Descending Triangles...?!?

[Speculator]

Descending Triangles near their end….! Which way they’ll burst ?!?

Concerns:
1. TA says if triangle’s broken after 2/3 –break is not reliable.
2. The above + Triangles are too obvious and as we know ...big guys like to catch more monkeys on the wrong side!

Wrapping it up: we may see false break out!!! But that also depends on what bank will be on each side of the triangles…!?!?

[Speculator]

Andrew's Pitchfork is positioned almost perfectly for a new uptrend...,but channel looks a little to steep and wide…!
Attached some projections. If this scenario happens …won’t see false breakout….! ....it may not be so easy…!!! We’ll see…!!!

[Speculator]

Almost 220+ pips in two sessions. Haven’t seen so many pips together in my hands for a long time… That’s the way I like it…. …though I lost a lot of pips in other pairs by being greedy…!!!!!!

As I mentioned in my previous post the channel seemed too steep and wide(but worked good for the entry) so I made minor changes last night but had no time to post it. You can see them in the new chart.
I also drew a new downtrend pitchfork (doesn’t fit perfect on the chart and may see some changes later). EUR slipped so fast that I’ve made more pips than expected on the move down but that also made me think about continuation of the down trend. Uptrend channel still intact but it seems like EUR$ will form another small 8-12 hour triangle just above its bottom in the next session and when this triangle is broken may unleash another fury in either direction, but I can’t see anything clear this time and I’ll wait for the European session.

Please dont follow my charts(especially the arrows in the future ) if you cant afford to lose the money!!!

[Speculator]

Sold successfuly the move.2250 to .2195
Sold .2222 for a retest of. 2100 stop at 2280
will post graph later

[Speculator]

the chart

[snprr]

good God that looks confusing.

[rezo_s]

Originally posted by Speculator
...big guys like to catch more monkeys on the wrong side!

Hi Speculator,

In IMHO, big buys dont care about monkeys at all no matter which side the monkeys are trading. Brokers (some of them or maybe all of them - who hunt their clients stops)...so, brokers may care about it, but not the big guys. Big guys have much more interesting and worthwile concerns than going after some others stops and mistakes...they dont even see monkeys on their way

once again, just sharing my thoughts

Regards,

Rezo

[ONTrader]

Originally posted by snprr
good God that looks confusing.

Amen, I'm recovering from a partial seizure as we speak.