Eur/usd- Elliot Waves & Humility.

[dkalense]

I am still waiting on the USD rally.
sell EURUSD @ 1.3010
SL @ 1.3082
TP @ 1.2859

We'll see. dkalense.

[chrism1085]

There ain't no rally. It's going back up

[weissdawg]

Originally Posted by chrism1085

There ain't no rally. It's going back up

I agree. However, 1.2980 needs to hold or EURUSD is going down a couple hundred pips, IMO.

[dkalense]

Thank you chrism1085, and weissdawg, for your responses.
We are now inside one hour of weekly FX close; and 1.2980 has held like granite rock.
I remain for the moment optimistic on my forecast. Next week brings plenty of Economic Indicators- so maybe that granite will burst.
I have moved my stop in much closer- 1.3032.
I wonder if that is a bad idea?
dkalense.

[popoola]

Dkalense

Caution is a two edged sword. I am flat into the weekend. However look at the loonie...

[weissdawg]

Hello dkalense,

My account tells me I'm not the world's greatest trader, and using EW has certainly shoved plenty of humility down my throat. But I have been trading better lately (without EW!!! ), and I think that (since you're EURUSD bearish) a good idea might be to bail out of your trade at the open. Then either sell at a price that's closer to your stop, or sell a break of 1.2980. Or, if Chrism1085 and I have changed your mind, you could reverse your position at the open, put a stop around 1.2975, and set a target around 3130-3150.

PS... More people would probably follow your thread if you threw up some charts every now and then. (If you even care. )

Good luck.

[dkalense]

Thanks weissdawg,
I still am looking for some charts I can post; my brokers charts are printable but I haven't figured how to save them in a format I can upload here.
Anyone have any suggestions on how I should post my charts?

Sydney is open; I am thinking over your suggestions weissdawg.

also, popoola- I was brutalized last week-
I may have to play things cautious this week-
but as you suggest- caution can hurt too.
dkalense.

[dkalense]

Originally Posted by dkalense

I am still waiting on the USD rally.
sell EURUSD @ 1.3010
SL @ 1.3082
TP @ 1.2859

We'll see. dkalense.

I had moved my stop up on this one to 1.3032; but fortunately I had bailed out early in the session @ 1.3018. Better would have been to have never moved the stop up and to have stayed with the trade. Anyway I am back in and still anticipating further USD gains.

sell EURUSD @ 1.2957
SL @ 1.3053
TP @ 1.2854
dkalense.