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Author Topic: TA Forex Trading  (Read 16184 times)

Pennies2007

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Re: TA Forex Trading
« Reply #960 on: March 08, 2017, 10:02:36 pm »
NU Weekly Chart Update

Chart is still the same but price didn't even hesitate at the FE 61.8 so the FE 100 is on tap next. I still have one short left to TP at 0.68 with an expected hit at 0.6751.

Something tells me though that overall, NU still has a much larger drop ahead of it longer term.
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Pennies2007

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Re: TA Forex Trading
« Reply #961 on: March 08, 2017, 10:21:37 pm »
EG 4 Hour Chart Update

We've completed the D wave cycle back to the top of the triangle pattern here. The move up didn't quite give us the 3 wave look I expected but it doesn't necessarily have to...that's part of what makes Elliott Wave patterns so hard to predict sometimes.

If the pattern is correct, GU may recover for a while now and then set up for a much larger sell off again later, although I have to honestly say I haven't seen anything on the GU chart that leads me to believe it's bottomed yet. So I'm not interested in shorting EG or going long on GU by any means at this point because that would go against the larger patterns evident in both of these pairs. EG is longer term up and GU is still longer term down so I really only want to follow those trends when trading because they offer the path of least resistance.

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Pennies2007

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Re: TA Forex Trading
« Reply #962 on: March 08, 2017, 10:25:26 pm »
EJ 4 Hour Chart Update

Still expecting a topside breakout here that will carry us up to above 125. My TP on the long is set for 125 even.

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ForexTrader

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Re: TA Forex Trading
« Reply #963 on: March 09, 2017, 05:16:27 am »
Quote from: Pennies2007 on March 08, 2017, 10:25:26 pm
EJ 4 Hour Chart Update

Still expecting a topside breakout here that will carry us up to above 125. My TP on the long is set for 125 even.

might go long EURJPY sometime today as well.
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kermit42

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Re: TA Forex Trading
« Reply #964 on: March 09, 2017, 07:32:56 am »
I closed my EURNZD longs this morning at 1.53 because they were nicely green and there was a monetary policy statement coming up. No sense taking a needless risk. My intention was to put the money in my pocket and walk away, but I couldn't resist jumping back in at 1.527 since there were no surprises in the statement. At least it's a smaller position so I'm not totally shameless.
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Pennies2007

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Re: TA Forex Trading
« Reply #965 on: March 09, 2017, 07:35:09 am »
Nothing wrong with that Kermit. I'm in that one for the long haul but flipping it is a great way to trade it also. The only real surpise left is the Roller Coaster Draghi press conference which is usually a delight for all ages...lol!

Sent from my LGL62VL using Tapatalk

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Pennies2007

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Re: TA Forex Trading
« Reply #966 on: March 09, 2017, 08:03:16 am »
Closed out the EJ long on the pop for now. With UJ in a precarious position, EJ could retrace deeper before moving up later.
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Pennies2007

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Re: TA Forex Trading
« Reply #967 on: March 09, 2017, 08:13:56 am »
Long EU at 1.0611. TP set for 1.14.
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Pennies2007

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Re: TA Forex Trading
« Reply #968 on: March 09, 2017, 08:36:16 am »
UCAD turned around right at the 88.6 fib retrace. Funny...I never would have thought they would use Draghi as the catalyst to complete the TDI wave 4 pattern...LOL!

Ya just never know. But all you have to do is just take that first 71.6 retrace and wait...sooner or later the market will invent something to use to reverse it off that Wave 4 pattern.
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Heavyweight

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Re: TA Forex Trading
« Reply #969 on: March 09, 2017, 09:45:04 am »
Joined you long EU pennies @ 1.0587
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Heavyweight

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Re: TA Forex Trading
« Reply #970 on: March 09, 2017, 09:47:26 am »
Also scaling into a short of UCAD @ 1.3508. I think I'm early though. It still can move up another 48 pips or so but won't be long now.
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Pennies2007

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Re: TA Forex Trading
« Reply #971 on: March 09, 2017, 10:13:14 am »
Yep Heavy, Ucad is DOA...the market just doesn't know it yet.

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Pennies2007

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Re: TA Forex Trading
« Reply #972 on: March 09, 2017, 10:32:40 am »
Its gonna be a nice trade Heavy. It'll be another week or so before it moves but it'll be worth the wait.

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kermit42

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Re: TA Forex Trading
« Reply #973 on: March 09, 2017, 10:42:48 am »
A week or so, huh? So you know what the catalyst is then.
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Pennies2007

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Re: TA Forex Trading
« Reply #974 on: March 09, 2017, 10:45:10 am »
Nope, no idea Kermit. I just know there will be a catalyst and it will probably be on a relatively short time frame...days, maybe a week, before the next leg up begins.

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TA Forex Trading by Heavyweight
September 30, 2018, 11:48:51 pm