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Good idea. Still holding my EU short and that's it. May jump in that AU short...again...since the stars are finally starting to line up. That would be right in line with NU wrapping up as well.
Good point. 7628 may be the level and AU daily is already forming a wick as it approaches it. The weekly Spike and ledge is nearly complete as well so a nice retrace is coming finally near term.
Oh ok. Well that may be the trigger to finally send AU to the levels we've been waiting on
So true. Now with most of the news out of the way, maybe we can get back to normal and build on the success we had last week.
That's interesting and something I may need to pay more attention to. I'd like to trade only those time frames but then that takes away from what I actually like to do... trade. I like looking at charts so until it gets tiring and I have so much money in my account that hundreds of dollar movements doesn't matter to me, I'll trade the smaller time frames. I'll just use the larger frames for over all direction.
Haha. I knew it. That's interesting though and that's a pair I never considered trading. It probably has a 20 pip spread too. Lol. Remember that the projections were from weekly and monthly charts so there's a lot of room for 100+ pip retraces in between. Slick test though. I knew it was coming but I couldn't help but take the bait lol.
Hey pennies. I'm sure this is a test/trap of some sort. Lol but OK. I typed a long post but then decided to edit/chop it but without any sense of time, price etc, I'm left with trying to eyeball it and describe my point. In my opinion the very first thing I noticed is that price action was in an uptrend then went into a sideways range which tells me a continuation of the trend is more likely. Price action is sitting on top of a prior small consolidation level for added support. Price has moved up beyond the white trendline which is now possible support. It looks to be working on the right shoulder of an IHS pattern as well. I never could count TDI waves but it looks like a wave 5 break out to the point and a wave 1 down retest of the trendline as you suggested. So if I was trading that pattern pennies, I would be more likely to go long to the top of the channel vs short and that's not even including the spike bars that need to be filled. IMO. But hey, if I was always correct then I wouldn't be -50 pips on my EU short this weekend. Lol.
Of course I hope you are correct especially since I'm short EU. You're a lot better at counting waves than I am so my fingers are crossed.
Hahaha not to kill your dreams pennies. Those are longer term projections. Near term yeah looks like 7728 is the target. Just saying that any move down won't be trend changers. Still good enough for me though, just not yet. Which may also drag my EU up with it so I might have to bail on my short. It's already created a monthly rejection (resistance finder) candle. So It's going to 1.1375 at least. I just hope to steal a few pips before it does.
And if my count is correct, it's completed the 5 waves down and the ABC and now it's working on a wave 4 counter trend move up. Since wave two was sideways, I expect the wave 4 to more dynamic. Honestly this thing could go all the way to around 8744 and not violate the FIB rules. Just saying....
Hey pennies. I hate to be the bearer of bad news but this is why I think shorting AU is a bad idea right now. I had to go out to the monthly and realized that it is also working on filling the spike. I don't think we will see any significant move down until price hits the .7728 area. That's another 187 pips away. It's over halfway there though. Right now it's stuck under the weekly 34 EMA or it would be there by now. Just MO.
Absolutely. So we all can profit.
Nice going Jav... if we get the process down, the pips and money will come. WTG
Hopefully EU will make the turn so I can add and save that letter lol.
That's funny
Closed NU long for 57 pips. Pattern nearing completion. It dragged my EU short with it though.
Back in short EU and Long NU. I think these patterns are gonna complete sooner rather than later just like the rest of them.
Took 51 pips on the EU short @ 1.1116
You have done well pennies and should be proud. Retired at 50...now that's a goal to reach for. Lol. Enjoy your movie. Good night
Haha that sounds like me. When I'm not trading, I'm looking at charts and videos then planning for Sunday evening. I wouldn't know what to do with myself if I was doing this full time and didn't work to get out of the house. Lol
Exactly. Next week we get to do it again.
I think that after the excitement today, the market will take a breather tomorrow.
Absolutely. Even after I got trapped on that NJ trade (which eventually turned in the direction I was trading after I closed) I still made that back and ended on a green day. So no complaints here either.
I hope you did well today. I probably don't have to even ask. Lol
So far not much above your entry. There's already been a retest and failure. Your target should be good to go.
The 15 min posted a shooting star at this level.
The thing is that NU has a lot of topside to fill so I don't know if it will take AU up with it or if AU will bring NU down with it. NU is nearly complete on it's first TP so it could drop from here and fill the rest later who knows at this point. For now I'm on the sidelines.
I just typed that lol
Good luck pennies. It could go to the one on the 4hr @ 7512 as well which is the same area as the 30min long wick bearish candle. Minimum risk either way so time will tell...
Ok I'll see if I can find something on it.
Went ahead and closed NU for 45 pips in case it's front loaded although I still think it'll reach the target.
May coincide with the NU target as well pennies that's why I'm getting out
Wish I could help with that one Jav but I'll need a little more info. Good night.
Gotcha. Now I know. Lol.
And yes we take knowledge from everyone and create a sound system. I learn from everybody.
What's "Mfi"?
Good deal. When I saw it I knew it wold help us.