EURUSD

Quoting Moty

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i belive in one more leg down {image}

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Quoting hans91

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{quote} sorry before if i may ask. no offence. but i think it's impossible for me to see 1.19 this year, it's about 700 pips from current market price. what consideration do you have while EUR zone now is going to decline day by day? besides regarding the issue from deutsch bank which is going to collapse. it will be make sense to me if EUR will go up to in the range of 1.14-1.15 this year as 1.15xxx maybe is the highest price we will see. Thank you.

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Quoting okosodo

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This silence, i do not understand

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Quoting Igrok

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the diamond on usdx is complete and broken... measured objective target is at 98.65... {image}

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Quoting Ridmantas

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{quote} Dear Mr. Igor, With the reference to your M15 and Weekly charts diamonds projection, there is also one potential diamond formation with continuation main diagonal. However, its unlikely will be filled and will be valid before taking out the top 97.65, from what I have experienced or if so, it will be signal that it will be broken to down side instead up side. Please advice, if this formation can be considered as its formation is not at the top of the previous trend. {image}

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Quoting Igrok

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{quote} this one is unlikely to be a diamond as it looks being built into a side trend... a real diamond has to be a "stand alone" pattern formed at the very top or very bottom of the previous strong trend... continuation diamonds are formed in the middle of such a trend... therefore the projection for the small diamond on the usdx is its measured objective target at about 98.65 level..

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Quoting Igrok

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it seems to me that since eur/usd was unable to bounce decisively from the descending resisting trendline we might witness a false breakout of the line to the upside tomorrow... still it's a sell on any uptick... {image}

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Quoting Ridmantas

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{quote} Appreciate your clarification. Taking an opportunity, last year I have this GU formation and have participated, but was it a legit diamond or just IW template? {image} {image}

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Quoting Alex III

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{quote} Thanks for the answer. I wish that you were bored more often it is good for my experience. Another question: the blue line in your picture is the level to which the price goes after the trend line is broken ....

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Quoting Igrok

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{quote} though I noticed, that small diamonds on shorter time frame more often than not do actually work as prescribed, nonetheless I myself trade only on the larger time frames starting from daily charts... smaller ones I just ignore usually...

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Quoting Ridmantas

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{quote} Noted. Do you use additional confirmations for an entry on daily/weekly charts like ID/IW templates, changes of the main moves in your favor, that specific place/ level is legit. My concern, is that do determine exact level of an entry and moreover Stop loss above/below main diagonal would be with unreasonable RR, if for ID we might consider 30pips, then on daily charts it might represent 300pips.

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Quoting Igrok

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{quote} that's easy... today is the second day of the week and the month... the market has already changed the main move... so shorting with stops above 1.1250 is a natural choice...

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