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EURUSD only

  • #10,101
  • Jan 23, 2018 10:01am Jan 23, 2018 10:01am
The EUR/USD daily Forex chart has been in a tight trading range for a week. The chart appears to be a bull flag. The odds favor a bull breakout.
With current momentum, there is a 70% chance of a bull breakout and a 30% chance of a bear breakout.
Since the chart is testing the bottom of a 10-year trading range on the monthly chart, it is at resistance. It is also near the top of a wedge rally on the monthly chart. Consequently, the bears are hoping for a reversal down that could last several months. In the absence of consecutive big bear bars on the daily chart, the odds continue to favor higher prices and bullish breakout.
  • #10,102
  • Jan 23, 2018 10:07am Jan 23, 2018 10:07am
Doesn't look very convincing to me, can't even easily get to 1.233.
  • #10,103
  • Jan 23, 2018 10:07am Jan 23, 2018 10:07am
I was thinking this could be a bounce.
Attached Image (click to enlarge)
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  • #10,104
  • Jan 23, 2018 10:11am Jan 23, 2018 10:11am
Took +4 gain (by being stopped out trailing) from one earlier sell trade and lost -20 pips twice afterwards.. then after 1.2267 took off a quick buy got me back +25 pips.. still 11 pips in minus.. I am waiting at sidelines for now..

Marking 1.2290... on M15... no selling while candles keep opening above this level..

Stay Green
Focus only on what truly matters!
  • #10,105
  • Jan 23, 2018 10:18am Jan 23, 2018 10:18am
Monthly is slowly getting to an area there should be more resistance showing up one would think.
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  • #10,106
  • Jan 23, 2018 10:21am Jan 23, 2018 10:21am
Quoting PhaseCapital
I was thinking this could be a bounce. {image}
$DXY hit target area.
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Click to Enlarge Name: Screenshot (129).png Size: 130 KB
  • #10,107
  • Jan 23, 2018 10:22am Jan 23, 2018 10:22am
Quoting jusstin911
Buy @1.2246, SL 30pips targt 100pips
Adding at 1.2271.. same target at 1.234
  • #10,108
  • Jan 23, 2018 10:24am Jan 23, 2018 10:24am
Quoting jusstin911
{quote} Adding at 1.2271.. same target at 1.234
If I add watching 2260 area ,,,would be where it hits the triangle line it broke above
  • #10,109
  • Jan 23, 2018 10:28am Jan 23, 2018 10:28am
Quoting digger1
{quote}If I add watching 2260 area ,,,would be where it hits the triangle line it broke above
true.. already added.. will add more if we get there.. I am glad we moving away from this sick range
  • #10,110
  • Jan 23, 2018 10:30am Jan 23, 2018 10:30am
target not met
  • #10,111
  • Jan 23, 2018 10:31am Jan 23, 2018 10:31am
big pullback from range top but pausing here, continuation down to bottom of range?
big money makes big moves and then hides during small money chasing.
  • #10,112
  • Jan 23, 2018 10:37am Jan 23, 2018 10:37am
long @ 1.2279
  • #10,113
  • Jan 23, 2018 10:41am Jan 23, 2018 10:41am
If daily high stays the same as current: 1.2306 then tomorrows outlook and sweetspot levels are as follows.. You can use them even today as S/R guidelines..

1.2267 will become key support...

1.2302 will become key resistance...

Stay Green
Attached Image (click to enlarge)
Click to Enlarge Name: EU-Daily-Outlook.png Size: 42 KB
Focus only on what truly matters!
  • #10,114
  • Jan 23, 2018 10:56am Jan 23, 2018 10:56am
Careful in here all,,,,,, it took a good shot but couldnt reach the previous highs ,,,,,,, on a good breakout the last 6 hour candle should have cleared everything , it didnt ,not saying this one wont ,but last one was kind of a weak effort,, have closed all my longs
  • #10,115
  • Jan 23, 2018 11:11am Jan 23, 2018 11:11am
we did nothing but with the nightmare of usa stop down plus eruro confidence. u will be looking at 1.227
  • #10,116
  • Jan 23, 2018 11:55am Jan 23, 2018 11:55am
Quoting digger1
Careful in here all,,,,,, it took a good shot but couldnt reach the previous highs ,,,,,,, on a good breakout the last 6 hour candle should have cleared everything , it didnt ,not saying this one wont ,but last one was kind of a weak effort,, have closed all my longs
Yep - I 'd say that's a good call in the 'here and now'
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.proH1F.png Size: 31 KB
  • #10,117
  • Jan 23, 2018 11:58am Jan 23, 2018 11:58am
I'd of faded it but I've already got a couple of short entries in just off 1.2270..(have added on another pair but best not mention which or I'll get me wrists slapped)
  • #10,118
  • Jan 23, 2018 12:01pm Jan 23, 2018 12:01pm
Quoting FXClarity
I'd of faded it but I've already got a couple of short entries in just off 1.2270..(have added on another pair but best not mention which or I'll get me wrists slapped)
as i know, i think you're short from around 1.19 level till now. We can even check back your posts from December.
So, you're adding shorts? Just curious where is even the stop loss.
  • #10,119
  • Jan 23, 2018 12:01pm Jan 23, 2018 12:01pm
closed @ be
  • #10,120
  • Jan 23, 2018 12:03pm Jan 23, 2018 12:03pm
Quoting FXClarity
I'd of faded it but I've already got a couple of short entries in just off 1.2270..(have added on another pair but best not mention which or I'll get me wrists slapped)
well hang in there ,,, a few chinks in the armor starting to show up
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