EURUSD

how much time is left boss

Trading Tips:

Today, i will share some of my trading thoughts for all those who care to note or not.

A) MM - Most are misled/brainwashed by all bucket shop operators to think that MM is all about commiting/using a certain percentage of your capital outlay to trade. The crux of a proper MM is the RR factors which MUST be more than 2 and ideally 3-10 depending on your level of trading competency and method. BUT even a proper MM is inconsequential/ineffective especially so in Forex trading. The paramount importance is still a tested and definitive trading methodology which is able to point out where the topping/basing levels are located, the pullback/retracement level and trigger point, the intraday,m/t, l/t, trading market conditions and their precise key support/resistance points. A well defined and excellent chart will even show/indicate the time of a major move. (A major move is a spike up/down of 50-120 pips)

B) S/R - Depending on the prevailing and current market conditions and contrary to most belief, the S/R level is always DYNAMIC according to its new highs or lows being generated out of the prevailing market conditions parameters. It is more so in a trending market conditions like the present/current PA in E/U and Aud/Usd pairs.

C) MOM - The greatest misconception is that Momentum is gauged/measured on its thrust but actually it's more on its backthrust/pb/ or retracement. The thrust is just a thrust (fakey) if it does not hold.

The current trendy E/U PA is still in a bearish mode unless 12980 lvl is breached and then price will test the bull threshold lvl of 13120 and if breached and held means PA have turn bullish OR it's breached but did not hold means it's back to rangey/consolidated market conditions with temporary bottoms and tops being already so defined and will be readjusted daily until key S/R points are conclusively breached and held to generate a new trending market conditions again or continue to range. And so on.........

I will share some more refined tips on chartings and the other various currency pairs unique characteristics and PA if time and event permit.

GL and happy trading. Beware of scammers/scums/skunks like me......


GS

yes china is critical ladies, eu bears poke foot through monthly support zone last night 2927 2945 bulls didnt like, but fight back was pathetic barely reach up to singapore open, bears gived another smack back to bottom zone today, now ladies all poking above todays zones (not complete yet, need another 1 & 1/2 hours for final levels.) bull is trying to have another go last 2 1/2 hours, I wary them this time, until get my upper zone levels, am start partials add kiwi and aussie, but wary, need upper zone and indications from china,

Is going be good scrap tonight

Tentative , possibly in next 1h

1.2942 is key for direction now

eu is back tapping 1hr pierced falling chanell , is like its frozened there

moyhan have you keep au kiwi zones from yester day they are complete and now act as resistance until broken was two beatiful touches and rejects again.

they paid nice harvest twice yesterday, and if can hold this bull will pay again

3rd try for 1.2960 on the way if it wont brake it lets the game begin

18.4B actual
10.0B
5.4B

good data why falling ?

edit : ops good data no easing

indians back at trading desk selling eur and and buying more USD

no Longs yet..London should give way yet 2874 is wide open if there is no significant support

yup and gbp is going get bashed also

i gbp crosses are making a killing...still taking out stops

Look like i will wait for short setup today. 1.2970-72 is my key support.

yes but pa on ladies is at critical phase, eu is back inside a monthly support zone, so rr is still for bull, but 1 & 4hr she has falling tl resist, this 1hr high just tapped and rejected, so squeeze is on, may the best fighter win,

I did sell the tap of tl, but very tight her sl just above tl will decrease as pa move sideways, which is good, breach it her will get me and I deserve to be getted selling so close to support

what do you think about 1.2934?

This is never good news for aud, as the chinese companies are bringing less things from australia, also it indicates that chinese economy will grow slower.

Also something to take notice:

The indices in china has dropped a bit, the key index, shanghai composite, is 2404 now, compared to 2419 daily high.

sorry for my poor english.

but it was on Australia trade data ,
we have to follow pa not feeling

EURUSD is having news at 8:45 - 10:00 GMT+2 so I am not going to trade it at the moment...probably down or choppy