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- TraderMerc replied Oct 31, 2010
It is a busy week ahead, with FOMC, and other news so it could be very interesting week to trade. I see for now a nice double bottom pattern confirmed on the 15m chart with a possible move to the pivot at .8737. I have to say that I have not traded ...
- TraderMerc replied Oct 12, 2010
Price is still moving along in the channel, making a wedge. as per my attached chart, showing the 4 hourly studies. For now price action is correcting in a downside consolidation. It obviously is countertrend for now and I remain cautious with my ...
- TraderMerc replied Oct 11, 2010
I expected that, the proverbial writing was on the proverbial wall... the early morning short was the trade for the day. Those of us trading Europe predominantly have the advantage with this pair, me thinks.
- TraderMerc replied Oct 11, 2010
FX mentoring — Adrian, I sent you an email at the link you provided.
- TraderMerc replied Oct 11, 2010
Where do we go from here... — It looks to me from the daily studies and 4 h studies that we are presently in a consolidation phase. The 4 hourly is attempting a bullish wedge. We had the gap from 8th October filled this morning, which was a ...
- TraderMerc replied Oct 6, 2010
Rags2 yes, everyone starts at some point. It is interesting to read what others are doing and learn from it for one's own trading, including their mistakes. The latter are probably the best teachers in the long run. There are many ways of doing ...
- TraderMerc replied Oct 5, 2010
If you say you have not much time to look at charts, why bother trading? If you are new to trading, in order to become successful you will have to put in the work to learn. Unless you are willing to do so my advice is to stay out. FX is not easy to ...
- TraderMerc replied Sep 28, 2010
..and GDP shortly. The fundamentals are crap for EUR, cable and dollar. But which is worst??? Euro taking a pasting this morning and EUR/GBP sold off heavily and broken decisively my bottom triangle line. EURO has more potential downside and has ...
- TraderMerc replied Sep 26, 2010
Chart of the 4 h attached with triangle formation as I see it, also the "Maginot" line from the weekly chart. The slope of the 34 appears close to meeting with the bottom triangle line and looks like going to be a good buying opportinity when they ...
- TraderMerc replied Sep 26, 2010
A look on the weekly shows a nice double bottom. Potential upside target from here: Another 400 pips to complete the initial pattern. The 4 hourly shows a triangle in the making which suggests to me more short term downside,( maybe in the asian ...
- TraderMerc replied Sep 24, 2010
Looking at the swissie it appears that we are abiout to put in a little double bottom on the hourly. The dollar selling has been relentless and a decent bounce is on the cards. Looking to short below .8500 on Euro weakness to confirm, if we get to ...
- TraderMerc replied Sep 21, 2010
Cable now also turned negative in the last few minutes, and that changes the EUR/GBP. What a difference a few minutes make!!
- TraderMerc replied Sep 21, 2010
After the nice move up we need to see the nature of the pullback to establish direction.On the 4 hourly the uptrend is weaking with deeper pullbacks, however on the daily an advance to .8500 seems likely. Price action around the pivot point of .8381 ...
- TraderMerc replied Sep 15, 2010
At the time of writing we are right now only good for a scalp, if triggered IMO. direction unclear, we may have more pullback to come, Its putzing round its daily pivot at .8360 I aLso got stopped out on a long earlier, on the head fake. It looked ...
- TraderMerc replied Sep 14, 2010
Forexsaint, just closed a nice long at 74 . Hit my triangle trendline and seems to consolidate here, so sitting on the sidelines now. Looks bulllish now. Need to see where it closes tonight. Euro making nice advance too, close to 1300 which might ...
- TraderMerc replied Sep 14, 2010
Smikester, no probs. Some days one is hot and some days one is not, such is life... Merc.
- TraderMerc replied Sep 14, 2010
Forexsaint. very nice one! I just scalped long this morning and like you now WnW, as you put it. I smell a possible reversal here and lots of figures out in Euro/UK in the next hour.
- TraderMerc replied Sep 13, 2010
Smikester, if you are around, I just noticed the Euro actually had a break out on the 4 hour chart yesterday , the 20.oo hrs candle, GMT a nice firm close well above the 34 EMA. I did not notice it.
- TraderMerc replied Sep 13, 2010
chart attached — Smikester here is a chart attached of what I see. Merc
- TraderMerc replied Sep 13, 2010
[quote=smikester;4015157] I'm short biased but I'm flat at the moment. The head and shoulders didn't play out, but it was only on the M5. Both GBP and the Euro seem to be in consolidation at the moment, looking at the weekly. I'm expecting a break ...