EU - where is it going next?

Quote from Steve:

I think I should close 1 lot at 1st target for 135 pips profit and move the stop for the remaining 2 lots to break even point
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I closed 1 lot on 7th of November at +135 and moved stop to break even for the remaining 2 lots (so if stopped only +135 pips). Since then (10 days) I was not stopped and the price never dropped to 2nd target. If the price goes to 2nd target, I'll close 1 lot for +268 and move stop to 1st target (so if stopped +538 pips). If the price cooperates and goes to 3rd target that would be +804 pips - based on 1 lot).

The only thing remaining now is to wait patiently for days to see what happens. Maybe it's not the most exciting way to trade, but so far as it brings profit I don't mind.

What do you think? Is it going to stay in this ranging mode for 10 more days or is it going to start moving up or down?
 

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Quote from Steve:

I closed 1 lot on 7th of November at +135 and moved stop to break even for the remaining 2 lots (so if stopped only +135 pips). Since then (10 days) I was not stopped and the price never dropped to 2nd target. If the price goes to 2nd target, I'll close 1 lot for +268 and move stop to 1st target (so if stopped +538 pips). If the price cooperates and goes to 3rd target that would be +804 pips - based on 1 lot).

The only thing remaining now is to wait patiently for days to see what happens. Maybe it's not the most exciting way to trade, but so far as it brings profit I don't mind.

What do you think? Is it going to stay in this ranging mode for 10 more days or is it going to start moving up or down?
More...
yeah, I like that plan. I've made lot of money on that Euro doing just what you are doing. Beats the heck out of me what it's going to do, I've been long all NOV so that tells you how much I know.

I think the fear of total collapse has subsided, but more and more many think it needs to go down to rescue. But then again, they say the same thing about usd.

but getting back to your plan, I did that all summer on eru/aud. Everyday sell one lot, until finally position and profit got very large, and just lighten up and book a little. Over and over again.

I've never had good luck scaling out of losses, and just simply don't do it anymore. otherwise, I like your plan, once those stops start getting hit it just starts a chain reaction, and you have a very good chance of getting filled on one of your profit targets.

obviously, I think it's going to strengthen, that's why I'm still long, but I have been long and wrong all month

I really have nothing to contribute, sometimes it helps to just talk.

thanks for listening
 
Quote from oldtime:

yeah, I like that plan. I've made lot of money on that Euro doing just what you are doing. Beats the heck out of me what it's going to do, I've been long all NOV so that tells you how much I know.

I think the fear of total collapse has subsided, but more and more many think it needs to go down to rescue. But then again, they say the same thing about usd.

but getting back to your plan, I did that all summer on eru/aud. Everyday sell one lot, until finally position and profit got very large, and just lighten up and book a little. Over and over again.

I've never had good luck scaling out of losses, and just simply don't do it anymore. otherwise, I like your plan, once those stops start getting hit it just starts a chain reaction, and you have a very good chance of getting filled on one of your profit targets.

obviously, I think it's going to strengthen, that's why I'm still long, but I have been long and wrong all month

I really have nothing to contribute, sometimes it helps to just talk.

thanks for listening
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Interesting points Oldtime.

Thanks for your contribution
 
Quote from Steve:

What do you think? Is it going to stay in this ranging mode for 10 more days or is it going to start moving up or down?
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I see a confluence of support at 27 (marked A) so for sure it's going up..:D

but since I'm long I'm probably biased..


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Quote from Instant Karma:

I see a confluence of support at 27 (marked A) so for sure it's going up..:D

but since I'm long I'm probably biased..
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Thanks for your opinion Instant Karma.

I'm usually biased when in a trade. This time I should expect it to fall (being in a short trade), but it's been stuck in a range for days - so not convinced about it:confused:

Whatever the case, I'll keep it open till either the stop or target 2 is hit:)
 
it bounced out of this gap fill (1), it's completing this bell curve(2) and may return to 2635 area(3) as it completes, if it doesn't bounce,buyers that were there last time will be fewer when it returns to that spot, there it could continue down to 2578-52 area(4)
 

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