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EURUSD

covered my short on cable +116.....just luck.....could have gone either ways... looking to buy if........
trading is simple but is simple is not easy.
Quoting palpite
{quote} Sell again - 1.1342 SL - 1.14 .
trade closed in 1.1320

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Together we can be strongest
Right. How will the euro be affected?

Difficult to say. A vote of no confidence is on the cards, then a change of government. The negative part of it is the uncertainty that comes with it all. The markets don`t like uncertainty.
Quoting TudorIoan
My Intraday Outlook. (ahead London) EUR/USD bullish channel and testing 1.1340. Technically, buy here or buying Lows, people. Intraday resistance : - 1.1350 - 70 - 80 Intraday support : - 1.1314 (WFP_S38.2%) 1.1310; trend line; - 1.1270 (pivot Weekly_S1 + WFP_S61.8% area) Have a great trading day, you all! I'll buy above 1.1340, sell 1.1325 {image}
1.1340 seems to be a strong resistance and is going for 3rd retest of that level, looks a good place to short.
Quoting Fredrick7
{quote}Right. How will the euro be affected? Difficult to say. A vote of no confidence is on the cards, then a change of government. The negative part of it is the uncertainty that comes with it all. The markets don`t like uncertainty.
Sounds like a very reasonable assessment. Thank you for the help!
Keep hanging around here!
Member
On the table:
Highlights include US retail sales, US weekly jobs, NY Fed mfg, Philly Fed, ECB’s Coeure, Praet and de Guindos, Fed’s Quarles, Powell and Bostic.

The USD was relatively flat overnight as comments from Fed Chair Powell failed to provide any fresh insights, in which he noted that having a press conference after every meeting means all meetings are live and that the Fed is trying to avoid hiking too slowly or too fast.

Option expiries of note for today's 15:00 GMT:
EUR/USD: 1.1200 (1.9 BLN), 1.1225 (0.748 BLN), 1.1250-60 (1.59 BLN), 1.1300 (1.5 BLN) and 1.1400 (2.0 BLN).

Still holding a short at @ 1.1300 and looking for a target @ 1.1097 although I had to widen my stop reverse from 1.1335 to 1.1360 due to yesterday Option expiries 1.1350 (1.4 BLN).
Quoting Jonstaples
{quote} 1.1340 seems to be a strong resistance and is going for 3rd retest of that level, looks a good place to short.
Right... but who can mess with politicals ?! GL, Jon!
Member
EURUSD broke the support at 1.13 with a low of 1.1215. Let's see where it goes next.
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Sell again 1.1308

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Together we can be strongest
Quoting palpite
. Sell again 1.1308 .
Trade closed in 1.1290

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Together we can be strongest
Strong support around the 1.1285 level. That is where the 50 sma comes in on 1h. Ata`s LWMAs (49 and 54) are near there too.
Quoting Fredrick7
Strong support around the 1.1285 level. That is where the 50 sma comes in on 1h. Ata`s LWMAs (49 and 54) are near there too.
Wow...didn't know he invented the linear moving average period 49 and 54. Amazing.

Anyway, reversal time. Same setup as yesterday after the spike. As long as price is above the low of the day, price should go to at least 1328 according to this setup.
I am an intraday Pitchfork trader.
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trading is simple but is simple is not easy.
Yesterday-evening I tought we saw a triangle at the end of the day. Already warned here that it could be morphing into an (expanded) flat.... and yes it was the last one... Expanded Flat....

Well then we just saw the X and thus I expect we now need the final zigzag (abc) upwards... before the bears can come in again...

Well let's see how far it goes up.....1.1392....or so....?
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You can manage risk, but you can't manage the return
Quoting TudorIoan
My Intraday Outlook. (ahead London) EUR/USD bullish channel and testing 1.1340. Technically, buy here or buying Lows, people. Intraday resistance : - 1.1350 - 70 - 80 Intraday support : - 1.1314 (WFP_S38.2%) 1.1310; trend line; - 1.1270 (pivot Weekly_S1 + WFP_S61.8% area) Have a great trading day, you all! I'll buy above 1.1340, sell 1.1325 {image}
1340 long - SL -10
1340 long (again) - SL -10
1325 short +45 (closed at 1.1279)
Enough! Closed all and out!
Bada bing, bada boom, ...you can go to parity now!
Member
Quoting mbrown
{quote} Wow...didn't know he invented the linear moving average period 49 and 54. Amazing.
I didn`t say he had invented them. Of course he didn`t invent them. I simply meant that these are moving averages that he likes to use and places a lot of importance on. Most intraday traders go by the 50, 20, 100 or 200 smas.
Quoting Fredrick7
{quote} I didn`t say he had invented them. Of course he didn`t invent them. I simply meant that these are moving averages that he likes to use and places a lot of importance on. Most intraday traders go by the 50, 20, 100 or 200 smas.
Do you use Ata's system in your trading?
If yes, how is your trading after you have adopted it?
Member
Quoting TudorIoan
{quote} Do you use Ata's system in your trading? If yes, how is your trading after you have adopted it?
I use it in conjunction with my own pointers. Ata`s system does lead to more gains than losses but, like all systems, it works until it doesn`t and has to be employed with a grain of salt. I think Ata has basically said that himself.

Take the present situation on the 1h chart, for example. There was a close below the 50 sma but the 54 LWMA has acted as support. I won`t short again until there is a close on 1h below this ma.
Quoting Fredrick7
{quote} I use it in conjunction with my own pointers. Ata`s system does lead to more gains than losses but, like all systems, it works until it doesn`t and has to be employed with a grain of salt. I think Ata has basically said that himself. Take the present situation on the 1h chart, for example. There was a close below the 50 sma but the 54 LWMA has acted as support. I won`t short again until there is a close on 1h below this ma.
Hello Fredrick7,

How many traders use 54 LWMA in trading? It's just supported by yesterday's low. I would suggest short trading rather than long... Have a good day.
FOR THE HORDE
Quoting Fredrick7
{quote} I use it in conjunction with my own pointers. Ata`s system does lead to more gains than losses but, like all systems, it works until it doesn`t and has to be employed with a grain of salt. I think Ata has basically said that himself. Take the present situation on the 1h chart, for example. There was a close below the 50 sma but the 54 LWMA has acted as support. I won`t short again until there is a close on 1h below this ma.
Interesting.
But I suppose a close below the 50 sma and the 54 LWMA acting as support is just a small part of the sys.
As I am seeing it, I comes hard for me to trust systems who work until it doesn't...
I mean everybody has something like that ...but no so good promotion for it, like Ata
Member
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hdin78
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