EUR/USD Longer Term Trading

I added a trendline and the price, sure enough, bounced right off of it. I took a small loss on the short, but jumped in long at the close of th green after the pin formed at the bounce at 136.72. I got my pips back and more. Targeting M4 Midpivot.

Jim

E/J, I dont have to trade anything but this pair right now. Forget E/U, Forget G/U its all right here.

With the low volume today, E/J looks to have formed a rising bearish wedge. Lets see how it pans out.

Hello friends,

here's my view.

What do you think about it ?

Yea, like I posted earlier, we may have found a good solid bottom. If you look at my trade for this afternoon, we had a 275 Pip move off of a bounce off of, surprise, the 89 SMA. I got 164 at M3 mid pivot when the pair showed a weakness and started a small retrace. I saw it move thru the 15 Min DTL so I opted for the safe entry on a green close above the DTL at 137.07. The pair then blew thru todays tops at 137.31 and 137.75. I am out waiting for a break of M3 right now.

Jim

Waiting for the break of M3, right? Now, the next PP is all the way to 140.20 so I need to find a closer target because it probably will not make it all the way there. So I pull up the 4 Hr and bingo, I found a good one. See chart below. I found a good 4 Hr top at 139.60 and we can't forget the Psyc. at 139.00. So I take those and put them on my 15 Min chart and now I am ready to trade this to 139.00 first and if it breaks that, 139.60 and after that M3. See Below.

I took the risky entry because I was above the UTL and I had some extra garbage pips to play with.

Added new trendline

So far this week, 498 Pips

i thought this thread was for euro/usd but surprisingly i am seeing a lot of E/J.

Here we go, just watch the pause at 139.00 incase you need to pull it. I believe we are good to 139.60, but you never know. We are at 138.85, which is the last high.

I know, but we feature E/U, but E/J has been producing easier and more pips. But, does it really matter?

Jim

We have arrived at the 4 Hr High we talked about. It would be real nice to see the price leave it in the dust.

Bingo 145 more Pips... No excuses guys, I showed you this one before it happened...LOL

Gonna wait for some material confirmation before getting back in.

We got a daily high at 141.10-15 and that is the problem here I believe. A green close above this and the skys the limit.

We just had a break and a test of the immediate DTL on the 15. May be a good trade to 141.02, however, it needs to break R1 first. 82 Pip move. If this breaks 141.10-15 the sky is the limit.

Jim

Great push

Another break

Here is where you stay away from the market trading E/J. If you try to trade it when t is too close to 89 SMA..... YOU WILL LOSE EVERYTHING.... The price acts different around this area and you get quick directional changes.

E/U has formed a Head and Shoulders on the 15. Breaking 89 SMA now.