Euro/Dollar

Good day to you,

Nice one!

Regards

Hi Tau,

yes was nice, traded EU down earlier been sitting on a long forever though - or so it feels

good trades to you

Good fight @ 60, beware of double top forming on M15

H4 close below 2240 will tell me the bulls have no legs

pretty much what I've been thinking for the last 4 hours

At the same time H1 formed nice temp bottom off 2244

morning all,

a little perspective summary.....

Monthly - in a correction on the 0.822x - 1.603x bull trend and probably will be for years, it has corrected about 51% so far in a ABCDE formation currently on wave E DOWN.

Weekly - the wave E in monthly consists of a nice clean 5wave down trend on the weekly chart 1.488x - 1.204x and has completed full target range - therefore probability sits on a correction of this move
initial correction targets - 1.314x - 1.384x

Daily - the 5th wave of the weekly trend above is made up of a nice clean 5 wave trend on the daily 1.348x to 1.204x which, has completed full target range. - therefore probability sits with a correction of this move
initial targets for correction 1.259x to 1.293x

Hourly - the lift up from 1.204x has also completed a nice clean 5 wave trend 1.204x to 1.238x on the hourly and completed the target zone. (see chart hourly 1)
Since 1.238x it has been correcting and has so far made around 49% retrace.
Normally corrrections make an ABC formation and in this case we have a target zone of 1.220x to 1.218x (see Hourly 2) but given the thin volumes and the already achieved 49% it is not impossible that we have already finished the corrective move.

What does this all tell us...
Monthly is down
Weekly and Daily are corrective upwards
Hourly is open to either direction at this time either to a more complete correction in the target zone or a new push up to work on the Daily & Weekly correction targets.

My trade plan.....

Long above the possible WaveB on Hourly 2 chart ie: 1.2289
Short below 1.2250

short on crude from 89.43 target zone 85.7x to 84.3x

but will cut it if I don't get the momentum required to get there

Good day to you,

Attempting some shorts on GU.

4hr. Looks like move lower is on.

Going out this morning - see later

Regards

Keep an eye on the news as this is a busy week, culminating in FOMC and ECB meeting Wed and Thur which may well set the direction mid term. Expectations are high and they better not fall short. Up to then expect sideways to bullish tone.

not so sure why expectations are so high though - other than a few useless words nothing has changed since 1.204x apart from HOPE and we all know where that gets us - so you are right and they need to follow up with a convincing plan and set of measurable actions

Agreed with 2046, unless you are scalper I think it is much safer to wait as PA can cause headache.
I am standing aside untill tommorow as I wish to grab a bigger move.
Have a good one

Morning Gays,

May u have Many Pips all's

you too

nice hat

short from 1623.20 target 1611.xx SL 1625.30

edit: forgot to add the spread SL = 1625.70

Nice looking setup if the lower TL gives way...

Thanks

Short @ 6809 target open, SL 6838 at present

Good day to you,

Closed the weakest short on GU for a few... leaving 1.5720 and 1.5707 shorts open. May add above 1.5740 at a test of yesterday's high - if need be.

GU currently testing the monthly open...

EU I may look to sell anything above 1.2320. The weekly open is showing resistance @ 1.22973. I still think we will go lower than 1.2220.

Will see...

Regards

Hi Tau

slow morning so far

currently short the Dax and placed a small short on EU at 2289 after the 1.23 rejection