Have you ventured to the dark side yet?

[Roberto]

Short term support possibly forming at 1.3396

Indeed. Also "congestion" of closes of 4 bars, by Ross definition, on 5-minute chart. (I have limit order to enter short on Cable at 1.9328, but we might not get there).

 

[wannagetstacked]

Eur/USD 5 min
Still in this trade with prices at 1.3397/98 still.
I am however seeing lower swing highs and higher swing lows

 

[wannagetstacked]

Thankfully a new lower swing low on eur/usd breaching the possible resistance that was signalling a possible early exit.
Prices swung down to 1.3393, Next swing low should see me exit the trade

Nathan

 

[Roberto]

Still in this trade with prices at 1.3397/98

Not looking bad now that the support at 1.3397/6 has been taken out a couple of times. Hope that goes very well for you. (If it does, my Cable entry might even trigger).

 

[wannagetstacked]

Roberto,
That short entry on cable looks promising but it wouldn't meet my entry criteria. It would mean basing the trade on one swing low point, I require a formation of S or R before i enter a trade,
Be careful as prices could swing down to fill your short entry and just swing straight back up stopping you out.

Nathan

 

[Roberto]

Noted, Nathan; thank you.

 

[wannagetstacked]

Just out of interest is anybody reading at the moment using fib retractments on eur usd. Important level at 1.3388 gave a reversal entry at around 10.25 am.
I personally don't use fib but Eur/Usd 5 minute looks like a textbook example of it working.
I do however feel slightly safer knowing that my exit point is 4 pips before this level.
Chart coming soon

Nathan

 

[wannagetstacked]

Chart showing example of how Fib retractments could have been used on the 5 min eur/usd chart I have been following, I never use fib levels purely for entry but they can be useful for timing exits

 

[wannagetstacked]

eur/usd ready to close

 

[wannagetstacked]

Exit filled at 1.3390

 

[wannagetstacked]

Watch for entry on a fib bounce or breakout very soon on eur/usd 5 min. May or may not happen but if you watch fibs the important price is at 1.3388.

Nathan

 

[Roberto]

Good trade, Nathan. Will be interesting to see if the fib level at 1.3388 holds again. Have cancelled my Cable limit entry now: moving much too slowly and nearly time for lunch here. (My charts have apparently changed from .png to .bmp for some mysterious reason and I can't post one).

 

[wannagetstacked]

Eur/Usd 5 min - Full trade summary and charts coming soon.
Risk/Reward 1:1
10 pips profit

 

[wannagetstacked]

Now following eur/usd to see if support does confirm at 1.3388
If this happens I will look to trade the 21 point range between 1.3388 and 1.3409, am prepared also to trade any breakouts that might contrastingly occur.

Nathan

 

[wannagetstacked]

eur/usd 5 mins, important level at 1.3409 should be approached soon and may present a similar trade to the one i previously outlined, or a possible breakout trade,

Nathan

 

[wannagetstacked]

Short side fib breakout underway on eur/usd 5 min.
In 2 mins it gave 10 pips profit on a 1:1 R/R
Broke fib level of 1.3388, entry at 1.3386, stop at 1.3396, exit at 1.3376.
Did anybody catch it?

 

[wannagetstacked]

ps. I didn't take the above trade as it didn't fit my filter requirements, Fib level traders would have made a nice profit

Nathan

 

[wannagetstacked]

eur/usd 5 min.
3 price bar strong support forming at 1.3376, may present a trade soon

 

[wannagetstacked]

Prices just bounced to 1.3392 from this support level at 1.3376

 

[wannagetstacked]

Important levels for the next trade are at S and R levels 1.3409 and 1.3376