I'm having another go with shorting the Eur @ 1.5717 stop 1.5849 target 1.5510.
another totally perfect gartley here displayed on the hourly.
Sorry Peat but I struggled to understand this trade. I thought EUR/USD was good for at least 1.580 and on fundamentals with the US holding interest rates and the EU bullish about raising them, it could go higher....
The logic is in the pattern Bilo. Also there is Divergence on the RSI Hourly. I tend not to believe the fundamentals much and just go with the shapes.
But yeh the trade could go wrong. Perhaps I should've waited for some confirmation that this was a turning point - not really any of that yet to be sure.
It seems to have taken a big tumble last night. This is why I don't trade the news . In fact it was sounding like the US-German trade dispute right before the crash of 87/
Disclaimer: Do not take my posts seriously. They are only opinions.
It seems to have taken a big tumble last night. This is why I don't trade the news . In fact it was sounding like the US-German trade dispute right before the crash of 87/
I was short EURUSD after the spike earlier in the week. My guess was that the market would drop if there was a EUR rate hike and would drop more if there was not...
so my bearish gartley post 671 failed pretty well. with price cutting through X by nearly 100 pips taking out -145 stop. so I interpreted this as a bullish signal. The 300 pip correction did come tho and I started buying this time on the 4th but it was catching falling knives and resulted in 2 -30's. Showed more patience till the 9th by which time a small bullish gartley hinted at some change in direction and since then had 4 overnight +90s and a -18.
so my bearish gartley post 671 failed pretty well. with price cutting through X by nearly 100 pips taking out -145 stop. so I interpreted this as a bullish signal. The 300 pip correction did come tho and I started buying this time on the 4th but it was catching falling knives and resulted in 2 -30's. Showed more patience till the 9th by which time a small bullish gartley hinted at some change in direction and since then had 4 overnight +90s and a -18.
There has been heaps of articles suggesting that the USD is toast again following panic about freddie mac and fannie mae and the 2nd failed bank picked up by the fed. Everyone had been picking the Euro to reach a new high v USD. Stunning about turn tho - equally stunning affect on the POO but that had an even more nasty correction.
what a night had a few trade set ups firing all over the place
made a bag on short usd jpy , good short on eur chf and had a nibble on eur usd long through 160 but that got stopped
i will post a few charts
my feeling at the moment is 160 is now weakened and will not hold looking at 163 + on eur
usd jpy broke some serious channels so have been waiting for this one to go lower
i reckon its the equities driving things at the moment , i have big shorts on for a while on dow now but starting to get a little nervous and may cover
having to get up through night to assess action which i hate doing but its sooo volatile
really looked like a massive hammer was going to print but saved by another wave of selling
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Originally Posted by peat
. In fact it was sounding like the US-German trade dispute right before the crash of 87/
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