natureboy
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For tomorrow, looking at EURUSD, and whichever AUD and GBP pairs appear most attractive.
I aim to have pattern alerts going. Missed a decent short setup in AUDUSD. the pattern was clear on the 1hr, the scalp could have been executed on 5m or lower. The trade in fact has yet to reach equality, which would be down at 1.0254.. the closer target would be 1.0310.
Here's the 5m:
I'm doing what i can here folks; it's probably clear that i'm not on point all the time. We work with what we've got - I will have pattern alerts on tomorrow and rest of week, hopefully find some decent scalps or day trades. Today was a good day, made money, yet still could improve - always improving folks
Peace and Profits
I aim to have pattern alerts going. Missed a decent short setup in AUDUSD. the pattern was clear on the 1hr, the scalp could have been executed on 5m or lower. The trade in fact has yet to reach equality, which would be down at 1.0254.. the closer target would be 1.0310.
Here's the 5m:
I'm doing what i can here folks; it's probably clear that i'm not on point all the time. We work with what we've got - I will have pattern alerts on tomorrow and rest of week, hopefully find some decent scalps or day trades. Today was a good day, made money, yet still could improve - always improving folks
Peace and Profits
natureboy
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AUDUSD has hit both 1.0300 and the 62% of the 9/28-9/30 down swing projected from the pattern D point. Supported.. may or may not continue on down to the 100% equality at 1.02537
I'll be scalping it if it gets below 1.0290 down to 1.0264.
GBPAUD was the trade. I didn't have pattern over there, so we work with what can define. On GPBAUD, in general - a new breakout, another bull trend maybe??
natureboy
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EURUSD currently has a bullish pattern on the 1hr. My day system has bearish conditions, the pattern has a possible support around 1.2860.
On the hourly, the last 2 M patterns have worked out, and the trend seems to have shifted from down to sideways. I'll be looking to buy EUR vs USD here in a little while, possibly near either the news around 500 or other timing at 640. Right now i'm short per my day system down to that support level at least, trailing out... Short trade's currently at a loss
On the hourly, the last 2 M patterns have worked out, and the trend seems to have shifted from down to sideways. I'll be looking to buy EUR vs USD here in a little while, possibly near either the news around 500 or other timing at 640. Right now i'm short per my day system down to that support level at least, trailing out... Short trade's currently at a loss
natureboy
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very short term, there has been definite bullishness in both AUDUSD and EURUSD. GBP is being sold into the 430 EST release, per the strength meter i use. USD and EUR also being sold, AUD being bought! Came really close to 1.0290, but stayed above on my feed.
If EURUSD can get above 1.2918, that last hourly M pattern will probably not ever reach that support level - all very bullish for EURUSD. I'm still waiting on my 15m strength meter to give me some confirmation of a day trade. The only trades the meter has now are long AUDUSD and short GBPAUD, both which appear to be countertrend to me, so i'm avoiding them. More discretion *hangs head in shame*
Main thing - GBPAUD appears to correcting in ABCD or three waves.
Note the ABCD that gave best price prior to the large run up last night, and the current pattern. All probability, some work some don't. Really beautiful when the patterns work, and the reward to risk skew can be substantial.
If EURUSD can get above 1.2918, that last hourly M pattern will probably not ever reach that support level - all very bullish for EURUSD. I'm still waiting on my 15m strength meter to give me some confirmation of a day trade. The only trades the meter has now are long AUDUSD and short GBPAUD, both which appear to be countertrend to me, so i'm avoiding them. More discretion *hangs head in shame*
Main thing - GBPAUD appears to correcting in ABCD or three waves.
Note the ABCD that gave best price prior to the large run up last night, and the current pattern. All probability, some work some don't. Really beautiful when the patterns work, and the reward to risk skew can be substantial.
natureboy
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I'm out of the GBPAUD long.. if it heads back up i'll get back in.. Looks like its reacting down, may be normal retracement.. I prefer more upside volatility.
GBP PMI is negative, does anyone employ fundamental reasoning around here? Or even better, have stats on reasoning conclusions vs price action witnessed real-time? Who's gonna have that.. If anyone feels like educating, please educate me regarding fundamentals here.. It seems to me that price rules, and markets will move irrespective of fundamentals..
GBP PMI is negative, does anyone employ fundamental reasoning around here? Or even better, have stats on reasoning conclusions vs price action witnessed real-time? Who's gonna have that.. If anyone feels like educating, please educate me regarding fundamentals here.. It seems to me that price rules, and markets will move irrespective of fundamentals..
natureboy
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Day system bullish EURUSD. Automating long entries EURUSD, trailing out.. will re-examine targets in a moment.
Times - Upcoming 630 area time target.. makes me feel this long could have problems near then.. 800, 1040, 1210 rest of the day.
Times - Upcoming 630 area time target.. makes me feel this long could have problems near then.. 800, 1040, 1210 rest of the day.
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barjon
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Whatever floats your boat, natureboy
I'm suspicious about patterns in general, but if they give you a reason to take a trade then fine. As ever, it's what you do afterwards that counts - entries don't move accounts, that's the job of exits.
natureboy
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Whatever floats your boat, natureboy
I'm suspicious about patterns in general, but if they give you a reason to take a trade then fine. As ever, it's what you do afterwards that counts - entries don't move accounts, that's the job of exits.
fair enough. I appreciate the feedback!
natureboy
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Well everybody and their uncle is buzzing about it today - but here it is:
EURUSD broke above that last swing high! Using old school swing logic, this would indicate a pattern of higher highs. The next thing to do in my view is look to enter on higher lows (higher than 1.2875 i would think, though not a wall of psychic energy, could be just higher than 1.2800) -- we use patterns to do that! So, i'll be tracking Bullish Entry Patterns on the 1hr and 15m - and aim to get those posted in real time.
Target is possibly 1.32 or higher.. could be shallow. Get in early and trail, and you get what's available. Get in early on a low and you get what's available at the best price.
EURUSD broke above that last swing high! Using old school swing logic, this would indicate a pattern of higher highs. The next thing to do in my view is look to enter on higher lows (higher than 1.2875 i would think, though not a wall of psychic energy, could be just higher than 1.2800) -- we use patterns to do that! So, i'll be tracking Bullish Entry Patterns on the 1hr and 15m - and aim to get those posted in real time.
Target is possibly 1.32 or higher.. could be shallow. Get in early and trail, and you get what's available. Get in early on a low and you get what's available at the best price.
natureboy
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Day 8 - Good Day Fine People
Here's the EURUSD retracement (as i'm currently thinking of this down move):
So far, the rate is picking up speed to the down side. I'd like to see support come in near the 50% level to bolster confidence in a near term coming up trend.. My day system is close to generating a short trade signal, which i will take if conditions are met.
Trading that way makes sense - i make money whether my analysis or prediction is right or wrong by following the market.
Ideally, EURUSD will stay above the 4hr pattern D point, which is at 1.2800. Below there and a longer term down move may be back under way..
Here's the EURUSD retracement (as i'm currently thinking of this down move):
So far, the rate is picking up speed to the down side. I'd like to see support come in near the 50% level to bolster confidence in a near term coming up trend.. My day system is close to generating a short trade signal, which i will take if conditions are met.
Trading that way makes sense - i make money whether my analysis or prediction is right or wrong by following the market.
Ideally, EURUSD will stay above the 4hr pattern D point, which is at 1.2800. Below there and a longer term down move may be back under way..
natureboy
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Check this out - there was a W10 of a larger pattern size into that same high yesterday
hmm.. Until the market shows me otherwise, i'm still biased long up to 1.31 - 1.32... Right now day system is flat, waiting for solid turn in EUR - which currency line appears supported at the moment using 15m data.
My buddy is telling me sell Euros.. We all have our own view on things. Short term he may be right.. Then again he's thinking EURUSD will get close to 1.27! We'll see, i'll day trade what happens, and remain aware of the possibility for larger buy possibility for a swing trade (that may never come..) - based on MY take on things.
hmm.. Until the market shows me otherwise, i'm still biased long up to 1.31 - 1.32... Right now day system is flat, waiting for solid turn in EUR - which currency line appears supported at the moment using 15m data.
My buddy is telling me sell Euros.. We all have our own view on things. Short term he may be right.. Then again he's thinking EURUSD will get close to 1.27! We'll see, i'll day trade what happens, and remain aware of the possibility for larger buy possibility for a swing trade (that may never come..) - based on MY take on things.
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