₦airaland Forum

Similarities between EU and ECAD on the weekly TF

Looks like EU will push up much higher to at least 1.1192 first

In other news, partials taken on USDCHF

See why I chose not to close out..... Maybe the market has taught me something

Remember I spoke about GU's lack of momentum yesterday

Since EG still has room upside, GU could push lower.... Manage your trade accordingly

saxy4c:
Remember my theory over the weekend? Momentum has now been given to Pound. I feel really bad trading off of these really

It took awhile but I found it.
It was definitely worth the search

So, by this we expect a strong GBP..... I wouldn't mind at all, I'm looking for EG shorts and GU longs so it would favour me laslas

Thanks for sharing sir

voraz:
I'll be waiting for a pullback to enter a bigger position

I don't like the lack of Buy momentum here.

voraz:
I'll be waiting for a pullback to enter a bigger position

I decided against a limit order and I now have a buy stop set

voraz:
1:2 RRR

Modified: Exited.

Exit reason. Got out at few pips profit.

I'll be waiting for a pullback to enter a bigger position

voraz:
We could be seeing an expanded flat here
That would make EURGBP fly up a little extra

I'm not taking it though

I should've taken it
EURGBP has flown up as expected.
GU tanked to the anticipated zone and looks like we have the anticipated Expanding Flat.

In a 'testing-the-waters' buy on GU currently, SL wider than yesterday's.
Let's see.

voraz:
We could be seeing an expanded flat here
That would make EURGBP fly up a little extra

I'm not taking it though

I should've taken it

Looks like a nice opportunity

1:2 RRR

Modified: Exited.

VeeVeeMyLuv:
Nice one,
Atimes scalping will not allow a trader see the bigger picture

True
EU has now reached the 'ahead ahead' region as anticipated, it was a pity that SLs were hit in profit first here .... I'll consider more breathing room later.

Now it's to watch and see if sellers come in

vcente:
alright, I understand, but this means that you won't make appreciable profits unless there is extreme volatility. By the way how long do you keep open positions?

My goal wasn't to make appreciable profits. It was to 'test the waters' because most pairs won't move too much during the Asian Session

I just didn't want to miss out on catching the bottom that's why I said it was a high risk trade because there wasn't any confirmation as of yet, just a desire.

I keep positions open as long as the market allows me to be in it

vcente:
can you please explain to me why you're using the lowest lot size. Am a newbie so any insight you can drop will be appreciated

Lot sizing should depend on your account size and risk amount you're taking.

On the trade in question GBPUSD, I mentioned it was a high risk trade that I wouldn't want to enter till I see where volatility pushes in London Session..... That's why I entered a small position last night and it was taken out, this minimal risk was taken

We could be seeing an expanded flat here
That would make EURGBP fly up a little extra

I'm not taking it though

voraz:
Caught the small sell then the buy.
Wave Theory works fine
Anyone else enjoy this?

Sorry I couldn't update here though.... See my battery

voraz:
EG has bought as expected.
Watch for drops tomorrow if the TL isn't broken

Lines up perfectly with my GU buy expectation

Looking for drops now

voraz:
EU is another one of interest.
But the zone of interest is still 'ahead ahead' (blue box)
Considering the reaction points I'm watching are still far ahead, I'll employ the same style with USDCHF..... I'll just capture most of the move and leave it to run.
I have a close by Target and the 'ahead ahead' target..... Hopefully one of them hits before it reverses to SLs in profit.

I'll be waiting till London Session tomorrow for volatility here and on UCHF.

Anyone else watching this?

My stops were too tight here but the same effect happened on EU.

voraz:
Chose to take a very small, very tight trade on GU now.... If Asian ranges take it out, I'll reenter during London

This was too tight.
An extra 3 or 4 pips would've kept me in the game

voraz:
EU is another one of interest.
But the zone of interest is still 'ahead ahead' (blue box)
Considering the reaction points I'm watching are still far ahead, I'll employ the same style with USDCHF..... I'll just capture most of the move and leave it to run.
I have a close by Target and the 'ahead ahead' target..... Hopefully one of them hits before it reverses to SLs in profit.

I'll be waiting till London Session tomorrow for volatility here and on UCHF.

Anyone else watching this?

This is the reason why I didn't close out outrightly.
We had extra movement
London Open, we could see reversals now but at least extra pips were bagged

EG has bought as expected.
Watch for drops tomorrow if the TL isn't broken

Lines up perfectly with my GU buy expectation

Chose to take a very small, very tight trade on GU now.... If Asian ranges take it out, I'll reenter during London

walexy100:
I need to get used to gold movement because I will be trading it soon. Studying and practising continue. That's where money is!

Hands in the air for you sir.
See you there soon.

PipMarshall:
That's why I said EURUSD bulls need those charts. USDCHF beginning to look like a long.
If usdchf goes up.. Eurusd should go down.

True.
Maybe EU and UCHF will start moving together since EU and GU have been opposite

PIPnator10:
There could be some reversal on it.
You can see the price just kissed the 200MA, the one I asked you about last week.
We wait to see what happens tomorrow.

Yes that's one of the reasons why I'm being skeptical about EU's distance
GU respects that MA too.

EU is another one of interest.
But the zone of interest is still 'ahead ahead' (blue box)
Considering the reaction points I'm watching are still far ahead, I'll employ the same style with USDCHF..... I'll just capture most of the move and leave it to run.
I have a close by Target and the 'ahead ahead' target..... Hopefully one of them hits before it reverses to SLs in profit.

I'll be waiting till London Session tomorrow for volatility here and on UCHF.

Anyone else watching this?

PIPnator10:
Done so already too.
On the side for new opportunity but I no lie,
any pair with CHF na torture. Thre average pip per day na like 50pips.

No be lie sir but I'm doing a more laid-back style now with pairs like that.... Trying to swing them laslas and not get caught in false reversals. That's why I just use my SL in profit to capture majority of the move and not close out outrightly.

This is USDCHF.
Looks like we could be getting reversal....
Notice the divergence
(Check out the attached USDCAD chart for an actual example)

It's not moving down fast enough so I've locked in enough profits.
We could see an Inverse Head and Shoulder formation around this point so upside is more likely now..... Enjoy!

PIPnator10:
EURUSD..I think I have something like that against london open tomorrow.
I think, if EURUSD is rising, USDCHF should be falling.

I'll be closing out my USDCHF sells now.
I expect some upside now.

EU should drop too

voraz:
Catching the 5th wave now

Caught the small sell then the buy.
Wave Theory works fine
Anyone else enjoy this?

Sorry I couldn't update here though.... See my battery

Catching the 5th wave now

PIPnator10:
EURUSD..
Hopeful..

Thank you Ogami. I'm glad we're watching the same thing