EURO got weight.

Published on Monday May 17th, 2010 at 03:38PM by Pipmonium

For those that know my method, I love candle info and I always trade with the trend. Well, eur 30min gave me a solid indication that it's rocking down, nice pin bar off the downward broken trendline. I believe the moment has come where the euro trend for this week has accumelated enough weight for kick off, down down down. Too bad that entry was against my rules, but still have 2small brown lines for visual confirmation of the targets of that signal.

Downward trendline on bigger 4hour chart.

Let's see if this hold, I do believe so.
  • 7 comments
  • Go to lukenn's profile

    On Monday May 17th, 2010 at 04:04PM by lukenn -

    I went in on a quick trade on the EUR/JPY. The peaks and drops on my 15 min chart looks quite similar to your upper chart. I took it as it broke the trend line and was in and out in 90 mins for 80+ pips. Waited for it the whole day, that one !
  • Go to Pipmonium's profile

    On Monday May 17th, 2010 at 05:31PM by Pipmonium -

    Nice trade. I'm hoping for a entry on the eur/usd to the downside, that first brown line was met, so now a entry with target at the second/1.22371 would go down just great.
  • Go to lukenn's profile

    On Monday May 17th, 2010 at 06:55PM by lukenn -

    Wow, looks like I bailed out just in time. I'm looking at the EUR/JPY charts, and it seems that it turned around and went back past my earlier entry point. Glad I had to go out and closed the trade.Just something to bare in mind tho', I was watching the news just now, and some Goldman Sachs (!) chief of something or rather was saying that the EUR dip is about to bottom out soon, and you should be looking out for the 1.200 and the 1.2100 handles on the EUR/USD. He was pretty confident that all the ECB meetings are starting to have a positive effect on the markets in general. Evidence of what hes saying is begining to show on the charts too. Most of the markets have already recovered from this mornings dip. Happy trading, and good luck !
  • Go to Pipmonium's profile

    On Monday May 17th, 2010 at 09:21PM by Pipmonium -

    Glad I didn't get a signal to go short on the euro.lol. 1.2400 is still holding strong though.Thanx for the tip.njoy
  • Go to buruguduy's profile

    On Tuesday May 18th, 2010 at 05:42AM by buruguduy -

    Do you guys use fibs? It looks like the EURUSD is starting to retrace on the 4H, probably all the way to last week's low... Though it also kinda looks like a bearish flag on the 4H. In any case, I'm still short on the euro.@LK Goldman Sachs did not lose a single day during the first quarter of 2010... He must be right! haha!
  • Go to lukenn's profile

    On Tuesday May 18th, 2010 at 06:28AM by lukenn -

    Pulled up the fibs on the 1H charts, and Ryan was right. The 1.2400 coincides with the 0.6 level of the fib. At any rate I won't be trading it until it either bounces or breaks the 1.2400.Big triangle from last week just broke on the AUD/JPY btw....@Ryan - Its another "scam". HAHAHAH probably just used
  • Go to buruguduy's profile

    On Tuesday May 18th, 2010 at 06:45AM by buruguduy -

    Let's see if that level will rip open... I hope it doesn't... I'm short GBPUSD. Lol.

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