Long story short. I see EURUSD reaches resistance area, and forms a nice short setup for me. So, I am going SHORT.
Here is the …. CHART!
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You’re right on this one. I was waiting for a butterfly pattern (same chart as above) that started with X on 24 Jun. I was waiting for price to go to 1.4200 before going short.
Well, I see resistance at 1.4100 area, so put in some chips here. Anyway, I am wrong enormous times. 😆 …
Ah, I see. Thanks for sharing that.
Well, what do you know, price did reach 1.4200 after all and I got my butterfly pattern. This was off my radar until I read the comment from Gulzaar this morning. So, thanks Gulzaar! 🙂
You are welcome:)
What is your plan off of this butterfly pattern? Today’s NFP announce should probably throw everything out of balance, unless you are lucky and on the right side of it:)
Yeah, I tightened my stops, but fortunately I was on the right side of it. If anything I probably exited too early. But I reached my profit target and exited. Didn’t want to be greedy 🙂
Good on ya, well done.
You’re right on this one. I was waiting for a butterfly pattern (same chart as above) that started with X on 24 Jun. I was waiting for price to go to 1.4200 before going short.
Well, I see resistance at 1.4100 area, so put in some chips here. Anyway, I am wrong enormous times. 😆 …
Ah, I see. Thanks for sharing that.
Well, what do you know, price did reach 1.4200 after all and I got my butterfly pattern. This was off my radar until I read the comment from Gulzaar this morning. So, thanks Gulzaar! 🙂
You are welcome:)
What is your plan off of this butterfly pattern? Today’s NFP announce should probably throw everything out of balance, unless you are lucky and on the right side of it:)
Yeah, I tightened my stops, but fortunately I was on the right side of it. If anything I probably exited too early. But I reached my profit target and exited. Didn’t want to be greedy 🙂
Good on ya, well done.
Now I see why I keep seeing “W”s. It’s from your charts, Gavin! 🙂 I woke up one day a few moons back and a HUGE “W” greeted me. Was all in my mind of course. After that day, I noticed that price is always attempting to go up with a “W” / “Cup” – shaped base. And it’s when the top of the handle fails to hit where the rim of the cup has reached that price starts to turn south. Yup, definitely from your charts. 🙂
Oops…too much secret revealed, Jules!shhhh….
Old fart Asian trader like me loves to keep the secret to myself… 😆
Dontcha love the ‘W’?
Now I see why I keep seeing “W”s. It’s from your charts, Gavin! 🙂 I woke up one day a few moons back and a HUGE “W” greeted me. Was all in my mind of course. After that day, I noticed that price is always attempting to go up with a “W” / “Cup” – shaped base. And it’s when the top of the handle fails to hit where the rim of the cup has reached that price starts to turn south. Yup, definitely from your charts. 🙂
Oops…too much secret revealed, Jules!shhhh….
Old fart Asian trader like me loves to keep the secret to myself… 😆
Dontcha love the ‘W’?
Do I love the “W”? I want to marry the “W”!!! 🙂 Stop calling yourself “old”. Wait til you’re in your 30s…or when you start losing some hair (why am I obsessed over your hair??)…
I heard snakeoil cures baldness by the way. LOL!
Do I love the “W”? I want to marry the “W”!!! 🙂 Stop calling yourself “old”. Wait til you’re in your 30s…or when you start losing some hair (why am I obsessed over your hair??)…
I heard snakeoil cures baldness by the way. LOL!
Hello Gav!
I came across your blog and found it very interesting! I am an aspiring Forex trader myself. Your trade looks interesting – the level you have marked as resistance is the top of a range. I think we may have broken it though. I look forward to more of your posts!
Good luck!
@Gulzaar, Yeah the pattern eventually failed. Anyway, profit/stop have been modified for protection long before it failed.
This shows a good trade entry alone is not enough. The way one manages his/her trade will produce different set of result.
Have a good day!
Hello Gav!
I came across your blog and found it very interesting! I am an aspiring Forex trader myself. Your trade looks interesting – the level you have marked as resistance is the top of a range. I think we may have broken it though. I look forward to more of your posts!
Good luck!
@Gulzaar, Yeah the pattern eventually failed. Anyway, profit/stop have been modified for protection long before it failed.
This shows a good trade entry alone is not enough. The way one manages his/her trade will produce different set of result.
Have a good day!
Same view, I had shorted EURUSD at 1.4131.
Same view, I had shorted EURUSD at 1.4131.