took a short GU trade a few minutes ago opened at 1.3727 and closed at 1.3690 almost did not close the entire trade very glad I did now. it was based on a Beo signal and a dt. +37 pips
watching the EUR/USD nice dt on the 15 min chart no confirmation signal for a short so staying away we are hitting the 21 wave so may push back up and break res to go higher just sitting on my hands and watching for now same for GBP/USD the only difference is we already broke res on 15 min chart which may be telling. Market is hesitant bulls and bears are fighting for control i am waiting till a clear winner appears to take a trade.
Good trading
Good trading
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Rangebound conditions in the EUR/USD and GBP/USD we have seen a small range developing for for both pairs without any follow through , rumors of a deal to help Greece have put a hold on EUR bears . We may see this range continue until Thursdays Monetary Policy meetings in in The EU and England. For the time being I am going to ignore buy and sell signals until I can determine some kind of directions for the market. These are the times that determine whether traders are profitable or not it is very easy to get frustrated and take trades inside this range and run a high probabilty of eating up an account in the chop. So be patient and wait for a clear direction to form, there is always another trade tomorrow.
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This was a very long trade just closed the EUR/USD short at 1.3889 for 11 pips probably could have held longer and got to my intial target but after being on the wrong side of this trade all day it was just nice to get out with a profit.
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Short EUR/USD at 1.3900 stop at 1.3940
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We are getting our EUR /USD pullback but it is happening fast so we may not get a signal to enter short before we become too extended.
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EUR/USD on the 15 min chart is hitting the .618 of the last swing high and is at the top 2 std of the 100 LR line good possibilty for a pull back here, something to watch will it continue down after a pullback or will it start higher we will have to wait and see.
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