{quote} Nice trade there!
Thank you very much .. May the green pips be with you
{quote} Looking at the 0880s area... see how price reacts there. What do you see?
Morning all,
I won't be trading today, going to be busy cheering on the Aussies at the cricket! That hourly channel break ended up being not particularly meaningful at all... I feel like if I was going to trade tonight it would be to wait for some better levels to take. I agree with the area around 1.0980 for shorts, long positions I'm not so sure... that 1.080 level is beginning to feel a bit overused to me.
Don't forget of course there's retail sales data tonight from the US.
Trade well!
I won't be trading today, going to be busy cheering on the Aussies at the cricket! That hourly channel break ended up being not particularly meaningful at all... I feel like if I was going to trade tonight it would be to wait for some better levels to take. I agree with the area around 1.0980 for shorts, long positions I'm not so sure... that 1.080 level is beginning to feel a bit overused to me.
Don't forget of course there's retail sales data tonight from the US.
Trade well!
Understanding yourself is synonymous with understanding the markets.
{quote} Finally this baby dropped hard to gift me about 50 pips Thank you very muchHope you guys got in too
Here's a couple of quick charts to update the situation for the new week. Essentially we're experiencing a re-test of the top of the old bearish channel. An upwards continuation will likely lead us to better prices for selling around 1.10 to 1.1050 (see daily chart). If the price retreats back into the channel I'll simply be looking for price action signals at key levels along the way down for potential long positions.
I've also set up a new 15-minute channel array. It's unlikely that I'll be trading during the Asian session today while volatility is low.
Mike
Understanding yourself is synonymous with understanding the markets.
seriously doubt eurusd is going higher ... to me everything is pointing down, I am short and have a target in mind of 1.0865
I like your target for a short, the 4-hour chart shows evidence in my mind at least of a good bit of demand sitting around that price (1.0865).
Mike
Understanding yourself is synonymous with understanding the markets.
Not much has really changed since yesterday, the price has remained in a range bound zone. The blue channel set up on the hourly chart has been broken to the downside; from a purely technical standpoint a short position seems strong to me, preferably from around 1.090. A good opportunity for this came about an hour ago (see 5-minute chart).
Mike
Mike
Understanding yourself is synonymous with understanding the markets.
apparently not really selling off, reversed my position at 1.0885 to long
I'm now on the lookout for long counter-trend entries. I'll take shorts on pullbacks to round levels.
Mike
Understanding yourself is synonymous with understanding the markets.