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17 AUG 2012 | Free Daily Analysis | EURUSD : RIP’S AWAKE !

G’day Surfers – it took some shaking but Rip rose to the occasion.Yesterday’s Report For the second time this week, HMS EURO had cleared the decks and was preparing to semaphore the “Dive” order when suddenly, the periscope spied dual targets to the North. Our flotilla of strong resistance was cruising safe in the unfounded knowledge that Price Action had fallen out of sonar range. RIP Van EURO sprang to life however, leaped to his battle station and soon had 1.2334 in the cross hairs. “Fire 1″ – a VERY LONG pause ensued before the props kicked into gear and all targets were met! We knew you could do it RIP and thank you for the pips!Oh – translation………………………we placed a long entry using one of our favourite Surfing The Pips Secret Patterns, made our TP1 and after a virtual stalling of the market for a couple of hours, had a multitude of banking options handed to us as Price Action surged 92 pips from entry. Officially, we banked 25 pips following our strategy to bank at first resistance to the letter. At week’s end a creditable 71 pips goes into the kitty and when I note that the entire week has ranged 129 pips; I again head into the weekend a happy camper.

Technical Analysis

C’mon – it’s Friday!

The Day Ahead

In Australia on Friday afternoons it’s almost compulsory to visit the local, share a couple of beers & tall tales with the mates, buy some tickets in the Meat Raffle and let the hair down a little. Mmmmmmmmm………………, sold!

This week in our Live Trading & Education Webinars we focused on thinking outside the square when performing our daily analysis. Yesterday we witnessed the result of that lateral thinking. Not attempting to be Nostradamus but training our minds to change focus and not be so myopic. I leave you to ponder the words of an unlikely ally – have a great weekend.

“Perception is strong and sight weak. In strategy it is important to see distant things as if they were close and to take a distanced view of close things” Miyamoto Musashi, legendary Japanese swordsman

Geoff Pyne | Certified SurfingThePips.com Trader

 

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