Tuesday, June 30, 2009

Eur/Usd 5 Mins Chart

Edit 1: Closed my short at 39 pips profit.

Edit: Finally managed to move my SL to break even. Now 40 pips in green.


Abel said...

Seems that this summer is going to be real boring with that eurodollar. Yesterday it was real work to achieve even 20 pips movements with it anymore.

Vijay Sharan said...

Agree with you. Recently i have lost some interest in trading too. Its not a lot fun like before.

Might be because loss in increasing.. ha ha.

Vijay Sharan said...

That is the reason why i some time went down until 1 mins and 5 mins chart to trade.

I too knw that 1,5 mins charts are not advisable to trade, it just to kill time ..

Vijay Sharan said...

For the above chart setup, I have shorted from 1.4128 with the SL of 1.4155..

I'm still in the trade. waiting and keep on waiting.

Vijay Sharan said...

Finally managed to move my SL to break even.

Abel said...

Agree, I hit a 5 minute microwave trading with it also a few weeks ago. It works Ok, if you see both scenarios at the same time (bullish and bearish). There´s certain placed where both of them pinpoints to the same direction.

I suppose big timeframe degree views does not change so quickly. The reasons I can find for such a flat behaviour from recent weeks are that different ew degreen pipointing to the different direction. Another reason might be that there´s a lot of shortside positions which limits it´s drops. Perhaps third reason is just summer, volume is away. Even today, it hardly managed to come down 120 pips from that channel roof.

I actually missed that shorting issue from today, because I wasn´t well sure anymore where exactly the roof will be; 1,4150 or 1,4180 or 1,4200 - this is a bit pair for me I don´t like to go "wrong side" even small pips.

It seems for me you had tracked it pretty well. The last big trade I did it was shorting that wedge from 1,4350. After that it´s been only very choppy 5 min trading tool for me.

1 Min charts works pretty well with eurodollar for me if I go for pattern trading. For example it tends to build a lot of diagonals.

You´re propably right side of the market with your short.