There is no way we have reached the bottom today.. Looking back through the four hour chart I can only see a couple of engulfing candlesticks that failed. Little bear flag on the 5 minute. I would short here if I had the will to. image image

EUR/USD 5min - Trendlines and Pivots

Still holding for the pivot. Engulfing on the 4 hour is a very good sign. Ok, I've cracked my first beer for the evening, I have no desire to stay in the market past this time. Only 12 pips from my target, I am pretty confident it will make it past ...

EUR/USD 5min - Trendlines and Pivots

Now would be a good time to cash out (R1) for approx 40 pips, however with a potential engulfer on the 4h, and a Friday sell off (who knows who is going to default over the weekend), I'm going to hold for the pivot.

EUR/USD 5min - Trendlines and Pivots

Kush, do you have a trading plan, like on a Word document? I recognise the feeling of deviating from your system and trying to second guess the market, I've found it really helps to have a hard copy of your trading plan next to you at all times, and ...

THV 4.0 Journal

Not confident with shorts until the 1.375x area. image That said, I have a strong signal to short, so I am in at 20 with a 10 pip stop. With my luck the past few days, this will shoot up image Stop now at break even and targeting next pivot ...

EUR/USD 5min - Trendlines and Pivots

Now short on the Euro, break of a trend line and divergence. image -14.. got slipped.

EUR/USD 5min - Trendlines and Pivots

Got a bullish flag and bullish wedge on A.U and E.U respectively, will wait to see if I can get a good entry. In on the retrace with a 12 pip stop. image 9900 might prove a sticking point, hopefully the Euro can carry us up though. If it tests ...

EUR/USD 5min - Trendlines and Pivots

Currently short on A/U 9878.7, 12 pip stop, 9857 is first target. Rationale - break of a trend line, break of MS1, also a head and shoulders. Stopped out -12

EUR/USD 5min - Trendlines and Pivots

Short on Euro wedge break now. 12 pip stop. Also short again on the A/U after a more decisive break. Stop at break even on the Euro lot. Drop damn you! Now out break even on the Euro. Ideally want the stop to break even on the Aussie before 13:30, ...

EUR/USD 5min - Trendlines and Pivots

Looking at a potential short on A/U in the next few minutes. USD/JPY shooting up but no close below the trend line on the Aussie yet. Short A/U 0.9879, 12 pip stop, first target R2. There is a chance this is a fake out as the latest candle closed ...

EUR/USD 5min - Trendlines and Pivots

Looking strong on both pairs. image image

EUR/USD 5min - Trendlines and Pivots

Bull flags on both pairs not but not strong enough to trade under my criteria.

EUR/USD 5min - Trendlines and Pivots

Looking at a potential short on A/U, trend line and bearish divergence. image

EUR/USD 5min - Trendlines and Pivots

Buyers had one more push up but the trend line is still valid, short could have been taken from 1.3555.

EUR/USD 5min - Trendlines and Pivots

Now's a good time to short IMO. image image Not taking it personally as I don't like trading at this time.

EURUSD

I think this would be a great short, but my entry rules don't line up, too close to the daily pivot. I would put a massive take profit on this because of the 4 hour time frame and the usual 12 pip stop. image

EUR/USD 5min - Trendlines and Pivots

OK, I reckon 1.3555 could be the top today, however I'm not in the business of picking tops and bottoms. A break of the trend line would normally take me into a trade here but it's not a time of day I have success trading. So i'll sit on my hands ...

EUR/USD 5min - Trendlines and Pivots

Looking at 1.355x for a possible continuation down. image

EUR/USD 5min - Trendlines and Pivots

Maybe time for one more, I will wait and see if this breaks. image

EUR/USD 5min - Trendlines and Pivots

OK that drop down on the Euro was the signal to take if I was going to have another crack at the whip this morning, I'll call it a day now though and get on with other things. Two more days of the week to come back with a vengeance.

EUR/USD 5min - Trendlines and Pivots