Quick look over at the Euro, I would describe these as good set ups although on the weak side. Clear trend lines but a lack of divergence on the first set up, although we had three touches then a break, and a clear run up to the pivot. Is that a ...

EUR/USD 5min - Trendlines and Pivots

Here's how it looked. Unfortunately I fudged the entry and took a small loss so it's really 28 - 7 = +21 for the day. image I have some pips to make back so I will continue to monitor for very strong set ups. In profit for the week now which is ...

EUR/USD 5min - Trendlines and Pivots

Nothing much on the Euro at the moment. On the Aus there is a bearish channel with bullish divergence which is a strong signal if there is a break up. Took a -7, It wasn't really a clean enough break, and when it started reversing it was too ...

EUR/USD 5min - Trendlines and Pivots

Today I took a bit of a beating but it wasn't a knock out blow by any means. I am using this opportunity to update my trading plan, as there are a couple of mistakes I seem to be repeating, or I wasn't even aware of. Updates are going to be: 1) A ...

EUR/USD 5min - Trendlines and Pivots

OK, one last chance. There is a nice continuation pattern on A/U. Will look for a break down with S3 as a potential target. Edit - missed the boat, drop happened too fast.

EUR/USD 5min - Trendlines and Pivots

Was so close to shorting at 1.3582 on the break of a trend line, but I wasn't happy about it. Three losses in a row is time to call it a day. There is no point limiting my daily winnings and not limiting my daily losses. image Kind of gutted I ...

EUR/USD 5min - Trendlines and Pivots

I was looking at this but the entry was too close to S1, yesterdays low and MS2. Not a particularly strong channel either. image And a triangle developing on the Euro, will wait and see if this strengthens. image A short from 28 could be decent, ...

EUR/USD 5min - Trendlines and Pivots

Currently short on the break of a trend line EUR/USD from 1.3616 with a 12 point stop. Edit : Stopped out almost immediately, ouch! I want to go short again but I need a retrace to 20ish. OK. No trades at the moment as US PPI out in 15 minutes. My ...

EUR/USD 5min - Trendlines and Pivots

Doubled it each period? In other words, if he started with 1000, the outcome would be 1000 * (2^3) = 8000, or an 800% gain. That is either going to require 1) Exceptional talent and consistency 2) A very long time 3) Poor money management and luck ...

THV 4.0 Journal

Pretty interesting to observe anyway. image ... And look where price decides to reverse after the news spike. COINCIDENCE?? Divergence tells you all you need to know about the strength of the upwards movement... image Rising wedge in development ...

EUR/USD 5min - Trendlines and Pivots

I have heard of that book, I'll give it a read when I get some time, thanks! OK, a couple of trend lines breaking simultaneously on EUR & AUS, I decided not to take the AUS one because a couple of pivots were in the way. It is currently breaking ...

EUR/USD 5min - Trendlines and Pivots

Trading A/U alongside the Euro now Kush, I just discovered the spread is virtually identical on my broker - 1.6 pips average. It moves in a pretty similar way. I do like the idea of specialising on one pair, but I have a 24" monitor (I bought it for ...

EUR/USD 5min - Trendlines and Pivots

Nice well defined rules, good luck with your trading. If you don't mind me asking. That last EUR/GBP triangle. What was the decision making process for you to let the profits run for that long? Triangles on the 5 minute chart are pretty reliable ...

journey to become "THE Professional"

Got a triangle on AUD/USD, I will wait and see which way that breaks. EUR/USD has some bullish divergence, could go either way. image Long at 0.9835 with a 12 pip stop. Target is 0.9855. There's the movement - stop now at break even. Target hit, ...

EUR/USD 5min - Trendlines and Pivots

Rufus, I just read through your thread, I like your style. Like you I was trading only EUR/USD but I recently added AUD/USD to the mix. I like this pair and all the principles carry over quite nicely. Have you started trading this pair yet and if ...

Rufus

By the way, nice channel/triangle formation on your second chart. You could have traded the break out and retrace to the trend line, then rode it to the pivot maybe?

THV 4.0 Journal

Also interesting to note that the breakout worked fine, but with a 12 pip stop there was just no way to trade it. How sweet this would have been if it was a clean break. image

EUR/USD 5min - Trendlines and Pivots

Happy pipping today Kush, looks like the bulls are in charge of the Euro today. I had a long at 45ish but I was whipsawed out of it. Have you modified your rules now you're using the MTF indies?

THV 4.0 Journal

Up to £4 pp next week. Roughly 47 pips this week which is close enough to my target. I should have bagged more yesterday but my platform froze. image

EUR/USD 5min - Trendlines and Pivots

Triangle forming on the Aussie, looking for another short. 10:12 am - It's a break up so a long is on the cards 10:15 am - Long at 75 with a 12 pip stop. Stop now at break even, will target S2 (0.9915) GO BULLS! Closed early at 0.9911.

EUR/USD 5min - Trendlines and Pivots