EURUSD

may be bullish from 1.2480

it is correct to go long here?

Only your strategy can tell. My chart says you could go long for a scalp now with a tight (-5) SL and a tp at 1.2498. If it breaks 1.25xx you could see 1.2515 then maybe 1.2530.

It doesn't fit my risk/reward though. Good luck. keep that sl close.

2519 and 1.2500 psychological broke right now .. just look at 2440 and 2373 ...
but each one follows his plan.

M30 Mornign Strat Pattern
M30 Inverted Hammer
after that doji

thanks

Are you kidding with major support at 1.2480?

[quote=snprr;270]I'm short from 1.2176 sl: 1.2265. I took the position Friday
morning around 8AM EST. I wanted to trail the stop, but
fell asleep because of whacky sleeping patterns last week.
Luckily price didnt suddenly reverse on me through my stop
again. I'm thinking about moving the s/l asap to 1.2170, about
breakeven. I'll cover on another bounce around 1.1205 area,
but I'd like to leave the trade open and hopefully make some
decent gains on a break below 1.2060 area. I wish I wouldve
gotten in earlier, but have been focusing on the GBPUSD and
USDCHF lately.

Is anybody in this trade?

What do you think about moving my stop to 1.2170? Too tight?
I placed it here because I'm thinking there is at least two levels
of resistance from where we are now on Fri close @ 1.2124:
1)1.2140 Fri high after bounce from 1.1203 (near Fri low) and ~50%
fibo from Friday high to 1.1203
2)just above 61.8% fibo (1.2159)of 1.2213->1.2077) and a prior intraday
support for Friday

If it breaks these, then I will wait until a break of 1.2213 to glong
or play smaller fibos to look for small pip gains until there is a clear
direction??

I want to be in a somewhat of a decent position just in case if it
breaks out of this daily consolidation. I might be able to re-enter
on a bounce of 1.1205 area and back down off of 1.2200 area. What do you
think of my reasoning?

How can I improve this type of fibo support/resistance analysis ... maybe with some indicators? I noticed the intraday and daily double tops and headandshoulders, btw, but didnt mention them. Both are trend reversal signals, so it is a high probality we will see more downside, but it's still kind of iffy as to when for me.

Thanks
snprr

Morning team...looks like business as usual in Europe.

Yes i think this is the major suport... what we do??? buy from support sell from Resistance....

is not it???

I entry scalp long at 1.2483, target to 20pips. SL at BE.

Hedge funds did pre-2007 .. they were dominant players and shaped the market.. not anymore.. its central banks and governments portfolio that affect the market these days..

Major support at 1.2480 and H1 doji... So weekly support 1 to weekly pivot at 1.2610

Long 1.2482 SL @70 TP 1.2610

Second target 1.27?

What do you think?

It wouldn't give up so easy if it was major - now look at 2440 - different story indeed - switch to H4 and see why. 2300 should be called major imo

Thought I was the only noticing that...

No it's not. If you want something close to "major support", try 2435/42. Simples...

Going to wait for US session before taking any more positions. Looks like firepower is lacking right now.

the key for this week will be the 2400 ... imo ...

Covered at 2473. +98.

Taladega nights...

right now it's looking like a pretty good drop for the Dow S&P and NASDAQ ...any opinion on how this will effect the euro today...

And how if I may ask?

BTW, if 2400 is key for the week(for you), what did/you doing/will do currently at the moment?

1. Short fiber till 2400?
2. Wait for 2400 to short?
3. Wait for 2400 to long?
4. Long it before 2400 now?
5. Sit around and wait for it to make an approximately 150pip move from 2550 to 2400 to find out the key? And what happens if you still end up with the wrong position? Wait for another level to be key?

Forgive my ignorance, but I'll really appreciate your answers.