EURUSD SHORT positions below 1.4015 with 1.39 & 1.385 in sight. Alternative scenario: The upside penetration of 1.4025 will call for 1.4065 & 1.4125. Comment: the pair is on the downside and is breaking below its support, the RSI is bearish. GBPUSD SHORT positions below 1.644 with targets @ 1.63 & 1.624. Alternative scenario: The upside breakout of 1.645 will open the way to 1.65 & 1.655. Comment: the RSI badly directed, the pair should face a further weakness towards its next support.
EURUSD Short positions below 1.3945 with targets @ 1.385 & 1.38 in extension. Alternative scenario: Above 1.3945 look for further upside with 1.399 & 1.4025 as targets. Comments: the pair remains on the downside and is challenging its new support, the RSI is badly directed. GBPUSD Short positions below 1.64 with targets @ 1.63 & 1.624 in extension. Alternative scenario: Above 1.64 look for further upside with 1.645 & 1.65 as targets. Comment: the pair is still on the downside, the RSI is bearish.
I've had a chance to keep up with the market this morning, and I just had a few questions. Are your exits entirely based on your targets, or are you holding until you get exit signals based on your charts? Also out of curiosity, what were you looking for when you started this thread?
Hi Greg, Well, this tradings suggestions/ideas are based in intraday trend, but for example I can have different positions in the same pair, like two longs and one short... I like to trade with the intraday trend to cacth 100/200 pips, try to find the small area of volatility to make an 20/40 pips, and keep a trade based on the main trend! I am like to be very active and be always in the market! Well, to be honest and you can wait to see I am not here to sell anything and I dont have as well any intentions to later sell anything.... Just here for fun and help you and other guys to trade showing my ideas and explaining my own way to trade, with nice examples!
Thanks TayOO, and again I find your strategy very interesting. Let me explain what I meant about your exits, though. Did you exit this trade when the quote reached 1.385 or 1.38, or do you just keep track of future levels as a guide and take reversal signals from your charts/indicators?
In that trade I get out at 1.3841... Unfortunately I didn't catch well the moment because I did believe that was close the possible reversal that is happening right now, I think... So sometimes I can do better than my targets but other times I can not do so well... All depends in my convictions for the trading moment.
EURUSD LONG positions above 1.376 with 1.389 & 1.3945 in sight. Alternative scenario: The downside breakout of 1.375 will open the way to 1.3675 & 1.3625. Comment: the RSI is well directed, the pair is rebounding on its support and should reach its next resistance. GBPUSD LONG positions above 1.622 with 1.6375 & 1.6434 as next targets. Alternative scenario: The downside penetration of 1.621 will call for a slide towards 1.6115 & 1.607. Comment: the RSI is supported by a rising trend line, the pair is shaping a falling wedge and should post a rebound.
EURUSD Long positions above 1.3825 with targets @ 1.3945 & 1.4025 in extension. Alternative scenario: Below 1.3825 look for further downside with 1.375 & 1.3675 as targets. Comments: the RSI is still well directed, the pair is on the upside and is approaching its next resistance. GBPUSD Long positions above 1.635 with targets @ 1.6525 & 1.66 in extension. Alternative scenario: Below 1.635 look for further downside with 1.6275 & 1.621 as targets. Comment: the pair has validated its falling wedge pattern and should post a further up move.