EURUSD

hi fontus, great trade...please can you explain to me how this strategy works, im a newbie, seeing this strategy a couple of times, but cant seem to understand how to pick entries and exits on it. kindly respond

Preliminary GDP in red?! ...big impact expected for pre?

EURUSD has a support level 1.1125 that is currently affects the price.
If the level is breached, there's a short signal. But RSI shows 34 level as a long position signal. Moreover, even in the case of growing, there is a probability of 1.1125 testing again.
The closest resistance level for long is 1.1165.
The overall view: there is a downward trend and fluctuation between 1.1250 and 1.1125 since April.

Adding more short positions.

Hi Techanalyst, happy to see indicators on your graph, good luck.
Will you plz mention which MAs you are using?
Good wishes

BAM! 1.1130 !

It might break 1.11 today and if it does, then I think there will be more intense selling towards 1.10

the crazies not finishing yet , anyway eu & gu reached strong support areas of 1114 & 2600 respectively and usdx still bull at any cost but near previous top . so best place action at least some . eu 1164 & gu 2700 both tl test to see. waiting longer time . take care
fontu

who knows this can be year low running eurusd , other levels there as 1.0840 though.

Both swing projection points reached, happy with that; 1140 to 1119. Lower time frame candles holding above 1119, dare we call this a come back...? Not so fast... Seems a bit late for Thursday/Friday bull run but lets see.

My View

After breaking fast and now taking sips of strong black tea to see chart, usdx minute limit broke down and will wait next one to have comfort as some negative trades in accumulation already. Take care

I am wishing a m15 candle to close 1.1132 then maybe soon 1.1120 who knows

Thanks for enquiry, actually this is not any strategy to follow, just analysis or how i used to see market. I apply basic elliot waves at every place in understanding price action at any time. So using simple of ew rules yo determine the limits, signal, confirmation etc levels. Signals usually mean breaks some levels like candle lows to test limits which is limit price try test to break or bounce above to continue trend. While limit breaks may breakout of the present trend running likely, again they are applicable from small to bigger trends. So trends in trends, waves in waves play at any leg in in the chart. While waves can go simple, patterns may not, they complicate things lots ways but still they are part of some higher tf waves, say 1 and 5th.
Try see the market without over convidence as many things go unpredicted, i say crazy or extreme but ok in a price action when see after it already developed. So may a waves, small, big or bigger may develop beyound the expectation untill already over/developed.by price action at any time i mean simple abcd legs of movements when all legs subject to changes, standard/classical. Strong, weak or very weak pa or set ups.
You ask about strategy, one has to make his own upon the basis of market analysis.signals , Limits , confirmations can be used for it as conditional, as breaks signal level may try test limit or broken limit then may confirm a trend change or breakout etc.
Hope understand. You refer actually usdx chart i use to work for other pair specially eurusd. See fresh usdx chart, breakout likely to test trendline but bull still intact so far, even after good breakout Take care

Its EMAs: 50 & 200. Not really relying on it, can use it for exit positions, or for adding more positions and putting a take profit where they are and taking a profit around there. But i do not rely on indicators.

I hope it will never go over 1.1132 again very slow

Big bunch of stop to hunt, same as they had done before

wicks or wacks, it will be tough to think longs for now

Still testing historical support 1.1110.
Good news from G20 summit, Trump-Xi, sell!
Bad news from G20 summit, Trump-Xi, buy!
Sometimes politics makes trading a very simple business ...but still no easy predictable

Why are you expecting a downward channel's resolution to be to the downside?