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Following on with the 3 line break type chart as shown before
on this thread which gave us a nice number of pips.
Looking again now IMO its possible Eur.Chf is setting up for a fall.
The last long black candle is called a 'Turnaround Line'.
The layout of the chart should be fairly self explanitory, with
Butterflies seeming to be in agreement.
This may turn out to be a longer term trade for patient pippers.
GTA - arco
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Update.
(I have also mentioned this on the longer term thread).....
.......currently circa 350 pips from the original post 1/11.
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Eur.Chf may still be on track for a move to the region shown in the previous chart.
After the recent ABC retrace north, which has created the red BF, it looks like it may be time to scale in some low risk shorts again.
Potentially 5 waves down to the 1.600 region to complete 'C' and target 700+/- pips.
rgds - arco
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Action appears to have turned nicely in the green box (see previous chart) producing an Evening Star on the daily chart.
2 positions got filled overnight at 6670/6640 and will leave
them running over the weekend.
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current price 1.6385 so your first target has been reached arco.
I need 83 pips more before my TP is triggered at +1.63 , currently +317.
forex never ceases to amaze me.
For clarity, nothing I say is advice....
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1.6300 take was hit during last night for final portion of this short closed at +402.
For clarity, nothing I say is advice....
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Originally Posted by arco
12/12 Eur.Chf may still be on track for a move to the region shown in the previous chart.
After the recent ABC retrace north, which has created the red BF, it looks like it may be time to scale in some low risk shorts again.
Potentially 5 waves down to the 1.600 region to complete 'C' and target 700+/- pips.
rgds - arco
Action has entered the target area...................
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have gone long from 1.5990 at 1900 hrs
it hit arco's target area did a bounce of 400 pips then retraced 300 (looking at daily's) . and looking at 15mins from todays low of 1.5960 at 0830 went up 40 and retraced 30, so thats a couple of 78% ish retracment moves without a new low
playing the small one with 33 pip stop at 1.5957. if this fails will try playing the bigger pattern at 1.5916 with 100 pip stop on that.
+30 at the mo.
For clarity, nothing I say is advice....
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traded a bit of the ups and down to help but in the end have now been beaten on this one....
Eur$ was the better one by far huh Paul - well done , dont worry I had some of those too, closed half of that +100 , also had a small short USD/CHF to hedge as this Eur/Chf started to struggle, closed that +50 as Euf/Chf stop was hit.
wins and losses.... overall things are growing tho, and perhaps I'll get better at reducing the latter
For clarity, nothing I say is advice....
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looks likely bottom in
bullish piercing pattern with some fib action and a harmonic pattern
divergence on rsi
looking to get a long entry in next week
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