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MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

Quoting Shadowfx
Morning all,

Consolidation day today IMO...with a chance for EUR to gain some temp ground in a still bearish trend.
No major econ news, only German data (11am GMT) & Oil (3.35pm GMT)

Forecast:

Europe Session, will try to remain above Daily Pivot (1.5491), Resistance at 1.552, failed break once today but another attempt possible...if it breaks then 1.555 - 57 would be maximum break out target upside.

If we go under Daily Pivot (1.5491) bottom target at 1.545 (Support) with possible break out scenario to push lower...

Overall range between 1.545 - 1.555 could offer some good trading opportunities both ways

Bear in mind, like I said yesterday, Market awaiting rate decisions on Thursday, so downside pressure is likely to remain

As always...Just my 2 Cents...
As always nice post Friend,

What do you see for tommorrow with the rate decisions .....

what is the level it needs to break to put it in the bullish mode again if there is any good news about rate decision ??

Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
That was about as easy as they come.

I usually don't trade more than 1 lot/trade.

3 on that move.
Quoting rpasupathy
As always nice post Friend,

What do you see for tomorrow with the rate decisions .....

what is the level it needs to break to put it in the bullish mode again if there is any good news about rate decision ??

Cheers
I don't expect surprises in EUR rates but all depends on how hawkish ECB statement is...Trichet has pulled some tricks out of his pocket before...
Historical & Technical bottom is around 1.535 - 1533

BUT looking at overall economical picture and market sentiment I will watch it close and will not "step in blind" for a all natural expected bullish reversal...we might be in for a more lower surprise...however TO CLOSE TO CALL as where we stand now

Just my 2 Cents...
Quoting acumen
That was about as easy as they come.

I usually don't trade more than 1 lot/trade.

3 on that move.
Tokyo sell of move...IMO...watch out for possible reversal to break daily pivot again before we go down further...
Quoting Dukeman900
I thought I would share how I came up with the 15453 low.

Nothing special just ranges from daily and weekly charts.

I call this a set up where everything lines up, these are the best trades.

I measure the last range down A-B and then calculate this from the high of point C.

Daily Chart.

last range
A 15700
B 15515
C 15632 = 100% price target 15447

second to last range

A 15769
B 15521
C 15700 = 100% price target 15452

Third to last range

A 15945
B 15629
C 15769 = 100% price target 15453

Weekly Chart

A 15910
B 15612
C 16038 = 200% price target 15442

As you can see everything is pointing to the same price.
I then look at a 4hr chart and see if this level is a major resistance level which it was.

I also look at the weekly chart and noticed that this was the 4th week down, last time this market ran 4weeks down was dec 07.

Anyway just how I came up with this price.

Most of the major turning point work like this.
cheers
nice quote pls put us true
please i dont understand your method? can you make things easier for us by going straight to the point e.g simply ending it up with something like this would be a good point to either take a short or long position just the way shadowfx or jurasic ends their own qoute.thank you all
Quoting finian204rea
nice quote pls put us true
please i dont understand your method? can you make things easier for us by going straight to the point e.g simply ending it up with something like this would be a good point to either take a short or long position just the way shadowfx or jurasic ends their own qoute.thank you all
Finian..your a nice bloke..but walking the wrong path to learn trading FX in my opinion...if you only follow posted advice without training yourself to understand the basic technical's and research of the economical environment on currencies...you set yourself up for failure...

As always..Just my 2 Cents & A word of advice...
Quoting Shadowfx
Tokyo sell of move...IMO...watch out for possible reversal to break daily pivot again before we go down further...
Quoting acumen
US desks will kick this pair to 45 before 10:00am.
What time? GMT+?
pls shadow or jurasic or all other wonderful members of this our wonderful thread.i want a favour from you all.
i want to know if anybody know about the genuity of fxpower signal and how good is their trading decisions? because i realy want to pay for one to make my trading decisions diffrent,but first i want to know how good they are.
thank you all members of this thread.
Quoting Shadowfx
Finian..your a nice bloke..but walking the wrong path to learn trading FX in my opinion...if you only follow posted advice without training yourself to understand the basic technical's and research of the economical environment on currencies...you set yourself up for failure...

As always..Just my 2 Cents & A word of advice...
thanks man you are always wonderful
pls direct me on how to follow the technical and economical environment on currencies
looks like you are right about it trying to reach and then go past the close of the previous day shadowfx
Quoting Dukeman900
I thought I would share how I came up with the 15453 low.

Nothing special just ranges from daily and weekly charts.

I call this a set up where everything lines up, these are the best trades.

I measure the last range down A-B and then calculate this from the high of point C.

Daily Chart.

last range
A 15700
B 15515
C 15632 = 100% price target 15447

second to last range

A 15769
B 15521
C 15700 = 100% price target 15452

Third to last range

A 15945
B 15629
C 15769 = 100% price target 15453

Weekly Chart

A 15910
B 15612
C 16038 = 200% price target 15442

As you can see everything is pointing to the same price.
I then look at a 4hr chart and see if this level is a major resistance level which it was.

I also look at the weekly chart and noticed that this was the 4th week down, last time this market ran 4weeks down was dec 07.

Anyway just how I came up with this price.

Most of the major turning point work like this.
cheers
Care to post a chart or two for some visual explanation? The ranges you describe sound more like swings to me since we are still in a daily chart fib range since last April. But perhaps we just differ on what we consider a range.

To me a range is a chart's last big trending high to low move that encompasses all of the current swing moves and that it also hasn't been broken/violated yet. A range can be made up of many high to low swings within it. But I guess either way our targets get hit, so happy pipping...

P.S. A, B, C, = D (a.k.a take profit).
Attached Images (click to enlarge)
Click to Enlarge Name: eurusd h4 abc=d fib....gif Size: 19 KB Click to Enlarge Name: eurusd h4 fib cycle....gif Size: 19 KB Click to Enlarge Name: eurusd d1 fib cycle....gif Size: 28 KB
IBfx Sporadic Traded Account... All Time Return: 33.9%
Quoting finian204rea
fxpower signal
I've no idea about signals man. I don't even read stuff like dailyfx ussualy with their analisys. I can get second opinions here on the forum.
On the path to Enrichment.
Quoting finian204rea
nice quote pls put us true
please i dont understand your method? can you make things easier for us by going straight to the point e.g simply ending it up with something like this would be a good point to either take a short or long position just the way shadowfx or jurasic ends their own qoute.thank you all
Duke,

Could I ask you to email me, would love to have a private chat.

[email protected]
Quoting finian204rea
thanks man you are always wonderful
pls direct me on how to follow the technical and economical environment on currencies

I think babypips.com has a very good intro to forex and although i have read most everything i can find anywhere, i often go back to remind myself on some of the basics... divergence in particular always seems to confuse me.. !!

Anyway, I think it would be a good place to look as part of your learning.

John
Sorry you are correct.

Swing is correct.

http://i32.photobucket.com/albums/d4...lyoneshort.jpg

http://i32.photobucket.com/albums/d4...geoneshort.jpg
Quoting Dukeman900
Sorry you are correct.

Swing is correct.
No problem and thanks for posting your charts Dukeman900...
IBfx Sporadic Traded Account... All Time Return: 33.9%
Quoting Dukeman900
Sorry you are correct.

Swing is correct.

http://i32.photobucket.com/albums/d4...lyoneshort.jpg

http://i32.photobucket.com/albums/d4...geoneshort.jpg
Which way Duke?
German number just came out really red. I am wondering if euro can really stage a comeback. Been struggling all morning.
Expected the unexpected
Quoting Aad
Care to post a chart or two for some visual explanation? The ranges you describe sound more like swings to me since we are still in a daily chart fib range since last April. But perhaps we just differ on what we consider a range.

To me a range is a chart's last big trending high to low move that encompasses all of the current swing moves and that it also hasn't been broken/violated yet. A range can be made up of many high to low swings within it. But I guess either way our targets get hit, so happy pipping...

P.S. A, B, C, = D (a.k.a take profit).
hello everyone!!

Add, I'm using the same strategy combined with PP, support/resistance (the range thing you said I call it a "channel"), MACD, LaguerreRSI and Stochastic (this last three only in bigger timeframes such as 4H, 1D, 1W)

about A, B, C.. I saw it in a strategy named SureFire by a guy called Mark McRae.

A = Fib 100.0%
B = Fib 0.0%

if:
A<B; C = Lowest Low between 21.6% and 61.8% (we expect a bounce up)
A>B; C = Highest High between 21.6% and 61.8% (we expect a bounce down)

Objectives??
Obj_1: C + 0.618*(B-A)
Obj_2: B + C - A
Obj_3: C + 1.618*(B-A)

(more details here @ http://www.surefire-forex-trading.com/)

by the way... I agree with your analysis, gone short @ 1.5492. In my charts I have like 3 or 4 ABC's like you but I'm sharing the last one (considering 4H).

A = 1.5575
B = 1.5454
C = 1.5517 (candle closed above daily PP but failed to close above Fib 38.2)
OBJ_1 = 1.54422 , (which is my TP.. if it keeps going on, 1.5370 but that one is crazy IMO)
SL -> 1.5570 (just above Daily EMA(100))

best trading wishes!
... /$ -> LONG
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