EUR/USD: Down Leg (May 3, 2009) 9:13PM

Since it's all based on long term trend analysis, entry should be based on long term signals. I'll wait for lower highs on the 3 hour chart.

 

Interesting. My downtrend line is being broken.

 

Overnight, the downtrend line ended up holding and the 3330 level I mentioned (past resistance) became support. Interesting.

 

Sorrry I could not post. After the short at 1.3375 area, I added at 1.3425 area at around 6:35PM (yesterday). I took profits on its retreat last night.

Now it is 7:24AM (May 05): I shorted it at 1.3390.

 

I took the profits after reading your note in the morning yesterday. You recommended 1.33, I took them at 1.3225 because I woke up and pair was there in morning.

Thanks

 

What is wrong with this pair?

My latest short made some 20 pips in the first ten minutes after entry, and while I was responding to a PM from a kind gentleman here on ET, it sharply turned around, and my profits are gone. I want to keep for longer this time.

I am waiting for it to be cornered to add more.

There is a gentleman here on ET who once wrote to me: "Topping is a process, not an event". He is so right.

 

To all of you who are learning trading, I suggest that you study what this person (Bigpipn) writes.

 

8:48AM: I am back shorting it in the 1.3430. I want to sell at 1.3434. A nice number. Another nice number I am looking at is 1.3443

 

8:58AM: I just got my entry at 1.3434. It took them sometime to give it to me