Have to call attention to the 4 H AUDUSD PB forming off of the new round number highs. Yes, I look at it occassionally Given how far it has come, the R/R for a retest of the highs may not be worth it. I will add lightly if sustained and ...

james16 Chart Thread

That is a rough estimate of the predicted movement off of the weekly double bottom. There is a 50 fibo in that area as well.

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I like these points. I must say however, that the basic 7970 projection on the weekly chart has me looking at any profitable short here as a quick hit and a gift.

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I agree with that. One always wants a good R/R, but I don't believe that one can achieve that with a "comfortable" stop at a non-technical level unless one is buying/selling retracements. Using the PB momentum technique below/above the bar works if ...

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LOL - okay - time will tell...well actually the PA will tell (I hope!). Honestly, I am not a fan of the orchestrated PB. Apparently I am not a fan of much! (Except the daily chart)

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Someone find me a Loonie PB so I can sell it.....please!

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Yes - well said - I like that approach technically, although my read of USDCHF remaining below daily support bears on my assessment of EURUSD as well. So far there is little follow through to a daily reversal. .

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Nice work on the EUR and USDCHF group above....the dailies are so strong that those 4-hour supportive charts are worth a look... indeed....you guys always want to sell me USDJPY! Wonderful!

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Would advise a gander at the USDCHF chart for comparison if thinking of shorting EURUSD longer term. I'm treating it as a nice quick hit from this morning for now.

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Indeed...power of the daily over the hourly there.

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Those who shorted EURUSD against the resistance this morning have a nice bonus...it is perhaps time to take some profit?......to reverse??...against this moderate support level we have pounded the last few hours....or shall we let that heavy daily ...

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If the EURUSD is really trending North, this could be a reasonable discount (for the high end shopper) - will be watching the PA

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Ahhh - to sell or not to sell - EURUSD at the resistance. Interesting that the 8 hour chart shows a relative PB failure.

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Not seeing a lot of talk on USDJPY the last day or two....scared off by the PPZ above 9950? EURJPY suffering similar indecision.....or is it consolidation??

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Yes...I agree...this started with a daily pin on a supportive weekly chart...successfully tested a daily fibo but now has an obstacle to overcome.

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No doubt - Honestly, the goal I think is to ride the weekly/daily wave in the same direction. Then it's easy...but, obviously spotting those against the perceived pressures to trade is a challenge for all of us. Stripping the charts, avoiding the ...

james16 Chart Thread

This is good to highlight - we were both very aggressive on the AUDUSD short last night. Both profitable, but in well before the daily pin trigger point. My reasoning was simply that there was not much room until the prior weekly support. All things ...

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Exactly! - good chart there. It's all about the entry and the money management. It's not a hope and a prayer.

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Ah haaaa!

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Don't underestimate yourself! Take a look back at the flow in EUR/JPY since that post. It reversed slightly above the ideal fibo target, but close enough to give a good entry if you were prepared. USDJPY actually hit the equivalent target. One can ...

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