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If we get a push down on euro perhaps the better more patient trade will be a retest of the trend swing area, thought behind this is if we are moving down price action may get slutty around the 2300 level.
If we see price movement similar to how my arrows are drawn I will be trading heavy short around the retest of that trendline, i would really like to see a bearish reversal candle there.
For now holding 1/4 short.
The ej just made a decent push short, so we will see.
Trading: Dax, ES, FX, Gold and Oil but what Bund and Bobl also.
Posts: 105 since Jul 2012
Thanks Given: 108
Thanks Received: 126
Thanks for all of these great posts. This looks like a straight forwards system, with lots of potential to earn us traders a decent profit. I put the 8 range bars on MT4, doesn't always look as nice, but they're clearly there. A good example is the EUR/USD yesterday between 5:30pm and 6:20pm GMT. It looks as if the EUR/USD tries t push back up, but we'll see. Great to find some more currency traders, as thats what I do. Although reading about future trading it def sparks interest. But currently still using MT4, looking to upgrade to NT at some point soon. Either way keep posting, its been of great help.
I just made that name up right now, but doesn't it look like a dinasour?
Anyway, i guess the texts would call that a flag pattern. If we break down i will go heavy long at 97.50. If we break to the upside i will put a normal trade size on.
thanks beng, wouldn't have looked at the swissy without your contribution.
much appreciated, i hope you make some pips today.
Trading: Dax, ES, FX, Gold and Oil but what Bund and Bobl also.
Posts: 105 since Jul 2012
Thanks Given: 108
Thanks Received: 126
Also that level where the EURGBP is at is also been a great support level if you look at a higher time or just zoom out.
I be inclined to think this will continue down as well, but we'll just have to wait an see..time will tell.