EUR might see a snap at around 1.5650 if it can get up there, but not putting it on the books. Minor area of resistance but big retracement zone.
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DislikedEUR might see a snap at around 1.5650 if it can get up there, but not putting it on the books. Minor area of resistance but big retracement zone.Ignored
DislikedCould be a hard morning for the dollar as Friday's activity seems to continue today. All pairs showing strong movement anti$. Not going 90% on this one, but still in it with smaller size trying to get a quick scalp. In the zone right now we'll see if it sticks.Ignored
DislikedSnap meaning reversing and going down? But once it broke 1.5620, it looks bullish all the way to almost 1.57.Ignored
DislikedIf I were a counter trend man, I'd be Long USDCAD as soon as this current 5 minute candle closes and is still bullish. I think i might also look at the AUDUSDfor a short opportunty. BUT, I'll wait for the bounce off my area of dynamic support and resistance, in a few hours. I've already made my goal money for the day. I'll only take A+ setups for the rest of the day.
Regards,
CIgnored
DislikedEURCAD - Short upon 4H close below 1.5534. SL 1.5608 TP: 1.5440
Be very careful that you have a confirmation for this trade. If it does not CLOSE below 1.5534 on the 4H candle, forget it. It COULD break out LONG. if it does not close below the recommended level, I'll sit this one out.
If it does drop, I'll be looking for the price to break 1.5400. If it breaks that level, the next stop is WAY down. 1.5200 - 1.5180 looks like the next level of significant support. i had to go all the way to the 1W timeframe to find it. Good money if she breaks down below 1.5400!Ignored
DislikedI'm not taking this trade. The 4H candle did close below the 30-50 SMA area, but not decidedly so, so I'll be looking for more certrain trades. I believe the EURCAD may have hit the bottom of the 4H trend. We'll know more later in the week.Ignored
DislikedRight....watching it now its a little whacky.
I was +19 max on this so far, executed at .9930, the top of that area I was talking about earlier.Ignored
Dislikedyum...kiwi
kiwi is in one disasterous fall right now, and though I definately see what you're saying Ironman, I'm actually waiting for a good sell around .7730 to .7750. Just not seeing a lot of historical s/r at the current level, although it may work out. .7730 is stronger short term, but .7750 seems stronger longer term. I would say def. at .7750.
one more thing (not drawn here but you can do it yourself) around .7734 to 37 you have a .50 retracement of the last major wave. big stuff all around here, so we'll see how it goes.
So here we go:
Sell NZD/USD .7730 -.7750, ideally closer to .7750
again to rehash my strategy I might want to put on a part of the position at .7730 area, and the rest or more at .7750.....this is what I do atleast so I dont miss out if it doesnt want to crawl any higherIgnored
Dislikedthx for following up......yeah the general feeling out there seems bullish eur and bullish usdcad, just reading around Street consensus. but again, ya never know. high probablility, right?Ignored
DislikedBilly, in another 8-10 hours, this one should be hitting the ADSR again. I expect another good bounce. It's worth the wait to be in this one with the trend. There's a lot of downside to this one depending on what happens at NY open.Ignored
DislikedYep. The thing is, there's always something SOLID to trade. I threw way too much money away by over-trading. Now, I take A+ trade setups. I'll take an occasional B+ setup, if I've already made way over my weekly money-goal, but this is my business so I stay away from "entertaining" trades LOL. Simple rules keep me in the black, and limit my downside on losers.
Regards,
CIgnored
DislikedTrue, but I'm wondering if its going to hold at this point (if it does go higher). Its hit the trendline about 7 or 8 times now with a successful bounce in the direction of the trend. What's your experience with that?
Also, if you look at a daily chart, you can draw a pretty perfect diagonal trendline from 2-28 and 3-07 to around its "bottoming point" around now. Not to say it will hold as I generally dont rely on them but its there.Ignored
DislikedThat's why i wait for a confirmed bounce before placing my trade. Like I said, if it gets anywhere near the 100 SMA (the blue one on my charts), it's a strong signal for me to stay out of the pair. Even if the PA spends too many bars past the 50 SMA (Red one on my charts), I'm not comfy with the trade and will sit it out. Going long on this pair, or EURCAD, right now is a mistake IMO. But then, I am a trend trader. Others are very successful playing retracements. I lose sleep over them LOL.Ignored
DislikedThat's why i wait for a confirmed bounce before placing my trade. Like I said, if it gets anywhere near the 100 SMA (the blue one on my charts), it's a strong signal for me to stay out of the pair. Even if the PA spends too many bars past the 50 SMA (Red one on my charts), I'm not comfy with the trade and will sit it out. Going long on this pair, or EURCAD, right now is a mistake IMO. But then, I am a trend trader. Others are very successful playing retracements. I lose sleep over them LOL.Ignored
DislikedNoticed you started a thread.....
http://www.forexfactory.com/showthread.php?t=87091
keep me posted I like the inputIgnored
DislikedActually, my earlier post was a reference to it as well. I was wondering if anyone would catch it. Definitely a classic and one my my favs.
Keep up the good posts, I enjoy your thread!Ignored