Looks like a rejection of the upper channel to me. I might be wrong though.

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Hmm...

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I've already closed out my profit a few pips short of daily pivot, since that was the target.

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Gator, just need an opinion. Do you think yesterday's low will be tested today? Price action seems to be all bulls at the moment in the Sydney Session, but I doubt it will continue on for the rest of the day.

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Thanks for the insight.

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Can you explain that again please? It's 7.47am right now here my time, and I haven't slept all night. Been trading through last night's London, New York and now Sydney hours. Didn't get what you mean at all. My daily pivot point is at 1.26280. ...

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Thanks. Did just that. Price action not having enough momentum to touch and bounce off yesterday's low worries me. It just tells me that the low might get tested and broken later in the day, instead of during the Sydney/Tokyo hours. The ideal ...

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I'm caught in two minds here. I'm in profit on my long, on the recent down move, and then up-swing. History suggests that price will retrace to daily pivot point first before continuing its trend for the day. Should I take my profits now, or let it ...

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Good morning everyone. I'm pretty much neutral at the moment. Any ideas if there's any chance we will see 1.2650 today? Might be looking for longs if the Sydney/Tokyo sessions touches yesterday's bottom.

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I think substantial downward move can only be confirmed once price breaks clean of weekly pivot. Right now, it keeps bouncing off it every time it touches or comes close.

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I think we might have seen the bottom of today's range. I'm still staying out of it though.

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Then I think you are in the wrong field. Desperation and trading don't usually go well together.

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The way I see it, you're pretty much gambling right now.

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I think it's very dangerous to short now. London is about to open, and we still aren't sure if we had already seen the bottom of today's range.

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Some crazy action so far today. And London hasn't even opened yet.

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I'm still undecided as to whether the Euro session will push the price lower, or drive the price up. Usually, if it's a bear session during the Asian hours, it will be a bull session during the European/American hours. But it doesn't look like the ...

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I might be wrong, but it looks like the next "big" move will probably test R1 rather than the daily pivot. I've already closed out my shorts for profit, until it breaks out of the current range, and then probably scalp my way to R1 or daily pivot. ...

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I will be looking for shorts at the moment. History suggests that price will move back to pivot more often than not before the Euro session starts, before making its move to whichever direction. Also, even if it decides to go long, it should make a ...

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Took another short trade from the pullback to the daily pivot from the M1 timeframe. Looking to get out of this quickly though. As soon as trend changes in M15, I'm out.

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It's not about the number of pips really. Although that really depends on your money management profile. I define my entry and exit levels, and then calculate how much I'm willing to risk for that trade. If I'm not entirely confident, it will be 1%, ...

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