Trading EUR/USD Daily Hi & Lo

You got yourself 400 pips.

Maybe 500 ... before a meaningful rebound, just using simple price projection, not that it works that often .....
 
Quote from ave331:

You got yourself 400 pips.

Maybe 500 ... before a meaningful rebound, just using simple price projection, not that it works that often .....
More...

Oooopppsssss!!

A different projection done from another angle suggests the EURUSD's present down move is over and we may be looking for a reversal right ahead ... so much for projections as they can be done using different parameters or different tools ..... or I'm simply not up to scratch where projections are concerned, exactly the reason for my sticking to daytrading and scalping ....... :eek:
 
But I don't use projections, since targets are nothing more than probabilties based on personal analysis there is no way to know when exactly reversal will come. I just look at when volatility may be increasing and bet either way depending on whether daily hi/lo is breached. Simples!

Even yesterday's close is not that convincing. Price didn't close above hi or open. Weekly chart still in downtrend, so is daily chart. Will there be interest from 1.368 zone? Who knows.
 
Quote from JSSPMK:

Trailing stage of 1.4025 Short
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Position will be reversed @ 1.3748 & reset back to initial stake of £1 per pip with a reverse order @ 1.3583 (£2 per pip).

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2724399>
 

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Quote from JSSPMK:

-£120

Short 1.4025 £2 per pip
(Reverse order 1.4205 £4 per pip)
More...

Closed Short +277 pips (+£554)

Now Long 1.3748 £1 per pip
(Reverse order 1.3583 £2 per pip)
 
Current results:

-85 pips/-£127.5 @ £1.50 per pip

+355 pips/+£1,065 @ £3 per pip

-120 pips/-£120 @ £1 per pip

+277 pips/+£554 @ £2 per pip

Win/Loss: 50/50

Average R/R: 1/3.24

ROI: +6.86%
 
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