Agree Rick...perhaps taking out the usd elemental risk the...

First 2660 Last

Share
Profile

Follow
specgoldbug

13,113 Posts.

392

17/11/17

23:56

Post #: 28909892
Share

Originally posted by RickM ↑

Hi Spec

If only we could have that trade again, we could retire by years end. I find for me all the signals we need are on the H4 chart but come from the monthly chart.

You mentioned trend traders would have taken 79.70 and of course you would be right for some traders. However, I took the signal at 79.20 before I went hard with multiple sell orders. Don't laugh but I could have known the likely hood of the price action moving above this level and then selling off at this level back in April 2015. I had 2 1/4 years to plan for this move so I had no excuses ( I wasn't stupid ). Look at the monthly resistance at April 2015 and the gap down to the next level on May 2015 which was a massive 450 pip move. This action once confirmed is just money in the bank for traders.
Now we wait for the sell off on the EURUSD if the US currently gets its act together. There is almost a guaranteed easy 320 pip sell off from today's point. Our only danger is the US Currently has a shocker next week.
At present I have 32 Sell orders in a queue, 3 trades are now in my position.
My risk will be 10% of my entire Equity but the reward will be a early finish to the trading year. At present the risk is only 0.03% so no stress here either way at the moment.

The question is am I brave, stupid or in the Know.

Expand

Agree Rick...perhaps taking out the usd elemental risk the eur/aud potentially looks good for an epic mid term short...I suspect it'll want to target soon breakout positions and then consolidation positions and possible even flag break positions...potential here for a big move will keeps the eyes open for any changes
Upvote

Reply