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shellsnail replied Nov 12, 2012my view is -> price has penetrated 4HR downtrend line immediately after forming a fractal low -> clear signal that trend has changed, we are just seeing a pullback, these lows are time to get long. Short is a counter-trend here.
Trading EURUSD only
- shellsnail replied Nov 12, 2012
im being objective here, if price closed below that low I wld say I was wrong but it didn't so it's still a valid set-up.
Trading EURUSD only
- shellsnail replied Nov 12, 2012
because price failed to close below previous lows yet, so the impulse is still valid, this looks like it is a very deep pullback.
Trading EURUSD only
- shellsnail replied Nov 12, 2012
O.K. see 30min chart now nice pattern. planning to enter on 50% retrace.
Trading EURUSD only
- shellsnail replied Nov 12, 2012
I trade via TL breaks and retrace, so I can take very quick entries and 5 pip exits. I use EA to add T/P and SL.
Trading EURUSD only
- shellsnail replied Nov 12, 2012
yes but nothing stopping this from forming another fractal
seems like it to me. but anyway I have sell-stops below current low lol. if it breaks I'll gladly take my scalps.Trading EURUSD only
- shellsnail replied Nov 12, 2012
anyway my bias for EUR/USD is back to long, managed to BE too with aggressive shorts just now
let's see where this half and hour candle close at. wait for retrace to enter long...Trading EURUSD only
- shellsnail replied Nov 12, 2012
pound dollar seems to be rejecting and bouncing, I expect euro to bounce too.
Trading EURUSD only
- shellsnail replied Nov 12, 2012
is it an attempt to break even or to hold till previous target
Trading EURUSD only
- shellsnail replied Nov 12, 2012
i took 3 aggressive shorts took profit at 1.26917..
Trading EURUSD only
- shellsnail replied Nov 12, 2012
haha, imo, still too early to call it. need to see a break of previous lows to confirm.. fingerscrossed.
Trading EURUSD only
- shellsnail replied Nov 12, 2012
longs have low probability of working now, though still possible if this forms another higher low...
Trading EURUSD only
- shellsnail replied Nov 12, 2012
if this doesn't go above 65 now, longs are almost screwed.
Trading EURUSD only
- shellsnail replied Nov 12, 2012
why not, if we see a bounce here it's good. if this breaks 27065 region, we are pretty much safely in.
Trading EURUSD only