LineTradingPilots

LineTradingPilots Updated 

Dear community, for those who appreciate a bit of a wilder ride read on. Those who don't, feel free to move on. On a fundamental basis it is pretty much IMPOSSIBLE to predict what is going to happen with the UK and Brexit. Either way I believe the EUR will gain against the GBP - at least in the short term. Having a look at the technical side I guess a picture...

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Dear community, my SHORT idea is based on the Elliot Wave count, Fibonacci Retracement and classic chart analysis. Major facts that support my idea are: - The price formerly formed and broke out of a beautiful ending triagonal, indicating the end of the impulsive 1-2-3-4-5 up move and the start of the a-b-c correction. - The price dropped initially forming the...

LineTradingPilots

A very happy Saturday boys and Girls! I am currently going through my charts and came across this one here - EURJPY. To be perfectly honest, I am not 100% certain if my idea makes sense and therefore would appreciate input from the community. What do you think? Does it make sense the way I look at it. The idea behind it is quite obvious. We have seen the...

LineTradingPilots

Hello, hello boys and girls! Today I am daring a negative analysis on the EURUSD pair. I had a look around in the community and it very much looks like split camps, so I'd like to join the Bears this time round. The chart should be self-explanatory I hope. As a target I see AT LEAST the last low (A) but it may well be that we drop even lower than...

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Good morning boys and girls! As I mentioned yesterday in my AUDCAD analysis I am getting more and more comfortable using the EW theory. Still, I am very novice and always appreciate constructive critique. The way I see it, the wave C has started. As we know, a wave C consists of 5 sub-waves. If I get it right, wave 3 of 5 has just started, aiming for lower than...

LineTradingPilots

Hello Boys and Girls! As mentioned earlier in my previous EURNZD analysis - I think I've got it wrong. Initially I thought we were still in a running C to form a B but after looking at it for a while I figured the B may well be finished already. There are a handful of reasons making me assume that: + We have reached the 50% retracement already. That is not a...

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Good morning boys and girls! I want to kick-start the week with a contradictory idea to the majority of the TV community. I believe that the pair faces another up-move, with a new high, before coming down once again. What gives me reason to believe this is a potential wave C I have outlined on my chart. It would make perfect sense because: + Wave A consisted...

LineTradingPilots

Hello, hello boys and girls! The second pair of the day I see to be correcting within a wave B is USDCAD. It very much looks like we are bouncing back towards the Moving Average, which could create some false security in the bull camp in return. I am still a novice using the EW Theory but I am gaining confidence - so much in fact that I am trading real money...

LineTradingPilots

Hey boys and gals! I am still practicing my Elliot Wave count, so please bear with me or point me into the right direction if I get it wrong. However, as far as I understand it the correction pattern A-B-C is complete and we transitioned into a new cycle of 1-2-3-4-5. I got to be honest and say that I traded the C of the last correction and banked the FIRST...

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Based on my simple approach to price action, which doesn't include much drawing at all, I opened a LONG position on USDCAD. Target the last high. As long as the previous HL (high low) stands the up-trend is intact. Despite a possible double top being formed I am sticking to my strategy. The chance risk ration is well balanced, so no reason not to give it a punt.

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My last CHFJPY trade didn't work out. In hindsight I misinterpreted the chart completely. It shows once again how vital it is to have a working money management in place. I personally don't worry too much about a bad trade. I give my initial idea (see related ideas) another try. I am posting the daily chart for the sake of simplicity, the trade is based on the 4H...

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A very simple approach to this trade: I was waiting for the bullish gap to close and look for a cheaper entry point. The price is currently within range of the major price retracement levels. I am awaiting price action confirmation but expecting a re-test of the last high. The 200-EMA may well serve as a pivotal slingshot. As long as the last low (higher low) is...

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I am having this pair on my watchlist since a while now and ever since it broke the last downtrend I was looking for a good opportunity to throw myself into the market. This trade is based on a very basic price action analysis. I prefer to keep it simple, as simple worked best for me so far. Between the current price and the 200 EMA level is a pretty good...