EURUSD

Quoting malcolmb14

Disliked

Do not over think fundamentals in this game. If you do expect 500 plus pip draw downs on your account , for example when everything was falling apart when gj was 208 and everyone was thinking short , by the time it did actually drop it was at 217.....that is what writes off accounts.

News is made up just to mess with your trades ..... that is the only reason news is made !!! If the market moves due to some hedge fund buying the news hounds have to make up a story to explain it.

I know when news is coming out , and only react to it. Either I manage my stops or am not in a trade during the news.

ONE THING that has been ignored in this thread is that the break down of 1.5000 was massive on the daily charts and 95% of the time these massive support levels are tested . It has not been yet.....

Ignored

Quoting malcolmb14

Disliked

compared to up volume , the volume on the pull back on the 5 min is very low..... this could be a little bit of profit taking , but no major selling pressure coming in

Ignored

Quoting malcolmb14

Disliked

compared to up volume , the volume on the pull back on the 5 min is very low..... this could be a little bit of profit taking , but no major selling pressure coming in

Ignored

Quoting cobraforex

Disliked

Just sent it to you, I didn't have your email, sorry.
If you have any question email me.
Good luck

Ignored

Quoting LuckyLurker

Disliked

China bought $ and everyone in the mainstream just found out. Thats fun da ment for ya.. tech is the way. I agree with you.

Ignored

Quoting SunTrader

Disliked

Me and a zillion others noticed how EU has been following Crude and that has been going which way ? Yes you guessed it - up.

So forgot MA's and RSI and Expontential / Bi-Lateral / Quadrangle Regression Channels and watch CL.

Ignored

Quoting malcolmb14

Disliked

Do not over think fundamentals in this game. If you do expect 500 plus pip draw downs on your account , for example when everything was falling apart when gj was 208 and everyone was thinking short , by the time it did actually drop it was at 217.....that is what writes off accounts.

News is made up just to mess with your trades ..... that is the only reason news is made !!! If the market moves due to some hedge fund buying the news hounds have to make up a story to explain it.

I know when news is coming out , and only react to it. Either I manage my stops or am not in a trade during the news.

ONE THING that has been ignored in this thread is that the break down of 1.5000 was massive on the daily charts and 95% of the time these massive support levels are tested . It has not been yet.....

Ignored

Quoting malcolmb14

Disliked

Do not over think fundamentals in this game. If you do expect 500 plus pip draw downs on your account , for example when everything was falling apart when gj was 208 and everyone was thinking short , by the time it did actually drop it was at 217.....that is what writes off accounts.

News is made up just to mess with your trades ..... that is the only reason news is made !!! If the market moves due to some hedge fund buying the news hounds have to make up a story to explain it.

I know when news is coming out , and only react to it. Either I manage my stops or am not in a trade during the news.

ONE THING that has been ignored in this thread is that the break down of 1.5000 was massive on the daily charts and 95% of the time these massive support levels are tested . It has not been yet.....

Ignored

Quoting malcolmb14

Disliked

I know some in here are not into indicators , and most seem to be short

Here is 60 min screaming long , once the RSI came up thru 30 it was a long and one could ignore price and follow the trend of the RSI only. Even on the retracement we only poked under 50 for one 60 min candle and this was clearly a doji.

The rsi still has some distance to go ( maybe price will go into 1,4830) , currently we stopped dead on a 61.8% fib expansion on a 1-2-3 buy formation

On the 30 min chart the 50 sma is UP . This means the trend is UP on a 30 min and has been since midnight PST on the 27th . The move tonight is going with the trend and should be no surprise. This looks like it might be a long bear flag and this evening we tested the 61/8% retracement. However at this point I would not be looking for any longer term (more than a few hours ) sell trades until we break down the 50 sma on the 30 min charts.

I think that we may go higher yet tonight and test 1.4830 ( 78.6% fib extension)

If we break the 78.6 fib expansion level then this is no longer a valid bear flag and the longer term trend may be reversing to up side with 100 % , 138 and `161 % fib extensions as targets (1.4872 , 1.4950 and 1.5000)

Attachment

Attachment

Ignored

Quoting Jurrasic

Disliked

Woke up a bit over an hour ago to this nasty surprise of loosing 60 pips. Broke resistances on the way up on all expected areas and now the weekly pivot. Forex never lets you relax huh.. Now made most of that back by scalping high leverage off the pivot, don't try this at home.. lol

Mike, I seriously doubt that "a bunch of Japaneese banks could push the price wherever they want".. Seriously man, it's not like any of the banks or funds or whatever actually all go to sleep for the night and leave their money unattended. No, this is clearly a strong bullish move, no matter the time it's happening in. My current view is that we broke a downtrend channel on 1h worth 300 pips and are in an uptrend. This also fits more or less with first fib of the whole fall a bit above 1.51 now. First though we need to get above 1.49 which I believe will happen today. I'm long.

Ignored

Quoting Jurrasic

Disliked

Woke up a bit over an hour ago to this nasty surprise of loosing 60 pips. Broke resistances on the way up on all expected areas and now the weekly pivot. Forex never lets you relax huh.. Now made most of that back by scalping high leverage off the pivot, don't try this at home.. lol

Mike, I seriously doubt that "a bunch of Japaneese banks could push the price wherever they want".. Seriously man, it's not like any of the banks or funds or whatever actually all go to sleep for the night and leave their money unattended. No, this is clearly a strong bullish move, no matter the time it's happening in. My current view is that we broke a downtrend channel on 1h worth 300 pips and are in an uptrend. This also fits more or less with first fib of the whole fall a bit above 1.51 now. First though we need to get above 1.49 which I believe will happen today. I'm long.

Ignored

Quoting acumen

Disliked

Volume...

There is no volume.

Some of the lowest volumes every recorded have taken place this week.

The reason we are at .4780 is volume.

Thin volume means a few Asian banks can push price where they want it... and that's exactly what they did.

Ignored

Quoting FXObserver

Disliked

You shouldn't have loss much if you're awake and if you see what's happening on the chart. I know you're good at it
Im just waiting for my TP and will prolly go long again if the price break the 1.4815 as it may go all the way up to test another psych lvl of 1.49

Ignored