FX Trading Ideas...

[athlonmank8]

Quote from TraderGreg:

Welcome to ET, TayOO.

Based on the first charts you posted, it seems like your strategy is very similar to mine. I'm impressed with the way you're managing your TLs also.

Do you mind giving us some background on you and your trading style?

Also is that 1.41950 line an S/R level, pivot, other?

Greg

damn.....similar strategy as me too (possibly better). Most importantly you've got a textbook risk-reward too (KEY). Welcome to the site.

 

[TayOO]

Quote from athlonmank8:

damn.....similar strategy as me too (possibly better). Most importantly you've got a textbook risk-reward too (KEY). Welcome to the site.

Hi athlonmank8,

That is very normal and acceptable...

I believe that is strange when traders come with very strange and complex strategies... For me and my experience tell me that normally that will not work in FX...

 

[TayOO]

EURUSD

Long positions above 1.3875 with targets @ 1.3975 & 1.401 in extension.

Alternative: Below 1.3875 look for further downside with 1.382 & 1.379 as targets.

GBPUSD

Long positions above 1.6075 with targets @ 1.622 & 1.635 in extension.

Alternative: Below 1.6075 look for further downside with 1.599 & 1.5925 as targets.

 

[TayOO]

EURUSD

Long positions above 1.3865 with targets @ 1.3925 & 1.3975 in extension.

Alternative: Below 1.3865 look for further downside with 1.382 & 1.379 as targets.

Comment: the pair is pulling back on its bullish channel lower boundary ahead of a rebound.

GBPUSD

Long positions above 1.6075 with targets @ 1.6175 & 1.622 in extension.

Alternative scenario: Below 1.6075 look for further downside with 1.599 & 1.5925 as targets.

Comment: the pair is pulling back on its new support ahead of a rebound.

 

[VitoriaSC]

Well done TayOO, I am really enjoying your work.

 

[TayOO]

Is not time to go up???

Hammer, tend line, level support a little bit oversold in the 15min chart...

Check the chart:

 

[TayOO]

Quote from VitoriaSC:

Well done TayOO, I am really enjoying your work.

Thanks VitoriaSC.

 

[VitoriaSC]

Quote from TayOO:

Is not time to go up???

Hammer, tend line, level support a little bit oversold in the 15min chart...

Check the chart:

Excellent call, thanks for sharing with us.

 

[inks2002]

how about the reverse head and shoulders showing up? Haven't had much luck with them recently but just a heads up....

 

[TayOO]

EURUSD

Long positions above 1.389 with targets @ 1.401 & 1.407 in extension.

Alternative: Below 1.389 look for further downside with 1.3855 & 1.382 as targets.

Comment: the pair has rebounded on its bullish channel lower boundary and is challenging its resistance, the RSI is well directed.

GBPUSD

Long positions above 1.6075 with targets @ 1.622 & 1.635 in extension.

Alternative scenario: Below 1.6075 look for further downside with 1.599 & 1.5925 as targets.

Comment: the pair stands within a bullish channel and is challenging its resistance, a pull back should not be ruled out before a new up move.