The GBPUSD Gartley failed but did complete a 1.618 butterfly. One of our followers picked up a cool 200+ pips on this move from off the 60 minute chart. Not my preferred time frame to trade form but hey...what ever works. Great job. Long term trend is still to the downside and short term is up. My preference for the week is long to 1.5200 and 1.5700.
EURUSD preference is long to 1.3730 and 1.4400. A break of 1.2800 should open up a move to around 1.2500. Long term trend is still down.
I'm liking the EURJPY too. Short to 122.00.
GBPJPY, my favorite, has been trading very nicely between the upper and lower trend lines...higher highs and higher lows. MACD bias is to the upside and the MA's are still pointed up on the daily. The smaller time frames are showing some real nice patterns and price has been respecting the pivot levels very nicely. Fading between these pivot levels has been working quite well and offering up quite a few pips.
Remember, I am using the longer time frames to find the trends and patterns then trading off the shorter time frames. If you're going to trade from the daily and the 240 time frames I would suggest a few more then 20 pips stop losses.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment