Help Others with GOD help
- #25,662
- Edited 4:03am Jun 16, 2018 3:29am | Edited 4:03am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
EUR/USD
Technical Analysis, 16.06.2018
(closed markets)
Resistance:
@1.173 is a resistance level, as well as @1.163 as a bit of a "weak" (insignificant) intraday resistance.
@1.184 still serves as top resistance and a major breakpoint (red horizontal line in weekly chart)
@1.194 starting the resistance range for the possible SHS formation on the weekly. (red box)
Support:
Current support is found @1.154 with the last low @1.1506.
Price did not pull a new low yet, so we can't speak of downtrend continuation.
@1.144 is a significant level of support, followed by @1.118 (61.8% Fib) to the downside, with @1.129 as top of the structure zone (green box).
The SHS possibility remains intact until the price breaks current support for a new low, which would wipe out the SHS setup.
We can see a double bottom on the weekly chart, marking the top of the old multiyear range. (green zone, current support)
Outlook:
bullish: We still have strong bearish momentum and we need to wait and see if it continues or if the Eurozone gets a little bit of relief from all the bad news.
If the Euro(zone) can get a little bit of much needed breathing time, we could see a bullish correction testing @1.173 resistance again, possibly breaking it for a retest of the @1.184 level. (1.163 is an intraday level and does not play a significant role in my analysis)
bearish: If the destabilisation of the Euro(zone) continues, especialy on the current German political dispute about migration politics among the leading party coalition, we could see the continuation of the bearish momentum to the downside, testing the strong @1.144 Support and possibly breaking it for a test of @1.129 and further down to @1.118.
Charts: W1 & H4
Happy trading and a have a nice weekend
Technical Analysis, 16.06.2018
(closed markets)
Resistance:
@1.173 is a resistance level, as well as @1.163 as a bit of a "weak" (insignificant) intraday resistance.
@1.184 still serves as top resistance and a major breakpoint (red horizontal line in weekly chart)
@1.194 starting the resistance range for the possible SHS formation on the weekly. (red box)
Support:
Current support is found @1.154 with the last low @1.1506.
Price did not pull a new low yet, so we can't speak of downtrend continuation.
@1.144 is a significant level of support, followed by @1.118 (61.8% Fib) to the downside, with @1.129 as top of the structure zone (green box).
The SHS possibility remains intact until the price breaks current support for a new low, which would wipe out the SHS setup.
We can see a double bottom on the weekly chart, marking the top of the old multiyear range. (green zone, current support)
Outlook:
bullish: We still have strong bearish momentum and we need to wait and see if it continues or if the Eurozone gets a little bit of relief from all the bad news.
If the Euro(zone) can get a little bit of much needed breathing time, we could see a bullish correction testing @1.173 resistance again, possibly breaking it for a retest of the @1.184 level. (1.163 is an intraday level and does not play a significant role in my analysis)
bearish: If the destabilisation of the Euro(zone) continues, especialy on the current German political dispute about migration politics among the leading party coalition, we could see the continuation of the bearish momentum to the downside, testing the strong @1.144 Support and possibly breaking it for a test of @1.129 and further down to @1.118.
Charts: W1 & H4
Happy trading and a have a nice weekend
you are not expected to understand this
- #25,663
- Edited 4:06am Jun 16, 2018 3:54am | Edited 4:06am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
you are not expected to understand this
- #25,664
- Jun 16, 2018 4:06am Jun 16, 2018 4:06am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
{quote} Not schooling but, that's a terrible trade. problem Look at the RR, you risk more than you can potentialy win, or you aim for a 1:1 which is not profitable in the long run because you need a 50:50 "winrate" to breakeven. (even more because Spread/Commission) IF you take the trade in this range, it's a breakout trade with a "dirty entry". You anticipate the break of Resistance (top of range) to snatch a few pips out of the initial move. In this case, your stop belongs in the middle of the range to make it a good trade with a reasonable RR....
Those who dont, should read some books.
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #25,665
- Edited 4:19am Jun 16, 2018 4:08am | Edited 4:19am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
{quote} Teek. You explain things well. However, I dont think the picture depicts exact target to stop ratio..., it just shows the direction...we all know how to take measurements of flags, pennants, triangle breaks etc. Those who dont, should read some books.
What you see is what you get, and I added a little bit of "opinion" in my follow up post.
A proper TA outlines the picture (setup) and the possible scenarios, which are always a "if-then".
These are the technical pricelevels of interest. Trade what you see, not what the analyst or anyone else wants to see.
If you expect a "enter your trade here, put your stop there..." well.. find someone else. There are enough people who provide a "signal service", I don't.
If you expect: a "this is going to happen because I say so...:", ask a prophet. I'm an technical analyst. Job done.
"we all know how to take measurements of flags, pennants, triangle breaks etc."
really?
you are not expected to understand this
- #25,666
- Jun 16, 2018 4:24am Jun 16, 2018 4:24am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
{quote} I can not provide the full technical analysis in a public forum for free my friend
2 - Your last comment makes no sense to me - I have not asked you to provide anything for free, nor I need it personally.
3 - Its not nice to quote half of ones thoughts or statements...just like a Yellow Pages.
Cheers!
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #25,667
- Jun 16, 2018 4:38am Jun 16, 2018 4:38am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
you are not expected to understand this
- #25,669
- Jun 16, 2018 7:11am Jun 16, 2018 7:11am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
{quote} Because exitis some members like me, who care about and want yours insights of the market
you are not expected to understand this
- #25,670
- Jun 16, 2018 7:34am Jun 16, 2018 7:34am
{quote} Not schooling but, that's a terrible trade.
This is where you trade should be. Entry at the green arrow where the liquidity is. Partial exit at the purple depending on what your value model is showing. If you dont understand how to value a currency then at least you should be at the very least looking at orderflow to see if its a stoprun through the liquidity at the top edge or if they are buying the liquidity for a continuation.
Boxing clever since 76.
- #25,671
- Edited 7:57am Jun 16, 2018 7:43am | Edited 7:57am
- Joined Sep 2017 | Status: Trader | 4,360 Posts
EUR/USD Technical Analysis, 16.06.2018 (closed markets) Resistance: @1.173 is a resistance level, as well as @1.163 as a bit of a "weak" (insignificant) intraday resistance. @1.184 still serves as top resistance and a major breakpoint (red horizontal line in weekly chart) @1.194 starting the resistance range for the possible SHS formation on the weekly. (red box) Support: Current support is found @1.154 with the last low @1.1506. Price did not pull a new low yet, so we can't speak of downtrend continuation. @1.144 is a significant level of support,...
. Thank you and keep at it. Best regards. Leon
Trade to trade another day
- #25,679
- Jun 16, 2018 9:59am Jun 16, 2018 9:59am
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #25,680
- Jun 16, 2018 11:37am Jun 16, 2018 11:37am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips