Euro$

The market has been sold very strongly at the PP which is 1.3660. On the m15 the euro has charted at popgun bar chart pattern which indices a fast move is coming. Its unfortunately not that hot in predicting the direction of the move:)))
I think that the euro should be shorted as near to 1.3660 as you can get with a stop at the R1 pivot which is at 1.3770
I dont think I will trade it myself. There is very solid support at 1.3600. If you trade it maybe ease out of a bit there .
Good Luck
David

Euro $

The flag like pattern is easy to see on the above h4 chart. The market fell and bounced of the support from this formation a few minutes ago.

The Daily Pivot is at 1.3660 and resistance from the 5e of the highs on the h4 chart is at 1.3683

The 62% retrace of the last range is also at 1.3660.

The high of the overnight range is at 1.3705 and thats probably where the market is headed.

Nothing done by me as yet.

We had some trouble at home last night. An armed robbery, so I am not in the best place this morning.

Be careful

David

The trading day

My trading day has helped to reinforce my normal belief that most breakouts are traps. I very rarely take them. I didnt last week and they all worked. Those of you that have been in markets for a while will know that the environment can be cruel.
No more breakouts. I take them at the level or dont bother.
The Euro$ should be shorted at these levels. Its late in the day and the markets will still be here in the morning. I will look for low risk high rewards trades in the morning. If they are there I will trade them . If not I will go and drink coffee and read the FT.
Have a fun evening
David

Losing trade analysis

The initial impression that I had at 800GMT was correct. This was, that I had missed the trade, at the correct level. However there was a bar chart pattern which has worked well for me in the past which I took.
The bar chart pattern failed and I got stopped exactly where I should have entered.
Not the best of mornings.
I will be back swing tomorrow.
David

Euro$

I have been stopped in this trade for a 125 point loss which equates to 1/2% of my account.
Back to square 1 on this experiment.

David

Euro $

I am short Euro$ from 1.3570 stop 1.3695 target 1.3400. I have risked 1/2% of my account on this trade. Boring I know.
Good luck

David

Euro$

Good Morning
The early bird got the worm today.
The exact sell was at 1.3690 a few hours ago. On the h4 we have a 2 bar outside reversal and a confirmed sell here.
The Market is trading at 1.3570. I am selling the euro$ here with a 125 point stop.

good luck
David