I don't use head and shoulders any more. I only use shoulders, as most of the hair on my head has fallen out :o

EURUSD

A test of 1.2813 area probably

EURUSD

It doesn't like that little trend line on the 5m does it.

EURUSD

I really messed up earlier. I had a short open on the EUR/USD. I opened a TTO order on it, to take profit at 1.2825, but forgot to move my stop loss higher (which was at default something like 10 pips). Needless to say, it hit the stop loss. Anyway ...

Galation's Trading Log

Not a problem

EURUSD

A rising wedge in a downtrend usually has a breakout to the down.

EURUSD

I don't usually operate on the shorter time frames, but at a glance, it looks like there could be a breakout our of the wedge. However, it could range between the obvious levels seen on the graph. There is a lot of resistance at 1.2875.

EURUSD

I think a bounce off the 1.4454 area is quite possible. If not, it's likely to find support around the 1.4365 area. Then a test of 1.45 and the prevailing trendline.

Cable Update (GBPUSD)

What is short term

EURUSD

Fading breakouts is a very lucrative trading methodology: if one knows how best to implement it.

Cable Update (GBPUSD)

Bounce off prevailing trend line. I see another test of this prevailing trendline.

Cable Update (GBPUSD)

How come you didn't draw your fib from the highest point?

EURUSD

Wise.

EURUSD

I do too, but I also see some retracement period from the drops as well at some point.

EURUSD

They are, that is true. But some currency pairs are like sisters to each other. Like the GBP EUR used to be highly correlated. The EUR/USD and USD/CHF follow eachother closely.

EURUSD

EUR/USD and USD/CHF are correlated. Therefore, they go hand in hand. It is good to look at this currency pair as well.

EURUSD

Short limit order at 1.2850

EURUSD

Depending on the price action at the time; I may short at 1.4500. Lots of things pointing towards at least a temporary drop.

Cable Update (GBPUSD)

This forum section will be much more helpful for you - url

EURUSD

As you know, anything is possible in the markets.

EURUSD