Trading EURUSD only

Hello everyone,

Just an idea I was using today, hope others find it helpful,

Scott

FXDD is great. To be honest most brokers are good it is a matter of researching. FXDD Takes responsibility for their faults and actually refund you if your datafeed gets cut off or a server goes down and you cant manage a trade because of it. Although I only have had this happen once in my life. The problem mostly people bitch and wine about brokers being crooks is because they don't know how to trade.
Funny you often hear about people talking about stop hunts and they don't even know what that means or what a stop hunt really is. A lot of folks will blame their brokers for their losses and I actually did that when I first started. This is the biggest rookie mistake lol.

cycles

the whole thing looked like an ole island reversal...which is hardly cn anymore since we have 24/7 markets/charts.. Cypress and wknd did it though....rare occasion...

i went long in the island...still have some...with a sl in the low 30's ...but u know hw that goes one comment/action and swoosh...it someones pickup....

GL

need all i cn gt...

It was recommended to me to take a look at Martin Coles's website.
[I am very grateful that I did]
Over the weekend I studied his free videos.
He gives immediate access to 1-4,
then emails the follow on 5-11 in a day or so.
Martin Cole
He explains the market from the Market Makers Business Model.
It is gradually sinking in and giving me a new perspective.
Of course he has charting software to sell,
but don't let that prevent you from taking a look.
Here is an EU 2H I marked up to help me get my perspective in alignment.
Cheers,
U2

She sure does go up quicker than she goes down, I am wondering if this is just a wash out of all the short positions before she goes back to 1.3 and above. seems like all the volume

Ok all I will let you in on why I am bullish so much on EU. This is for those that understand the CoT report (Commitment of Traders). You all need to pay attention to the Larg Traders here (Institutions).

TY for sharing Uturn

will have a look

Hello all,
this is my updated view on the Euro.

The gap down in the morning due to news, coming from Cyprus, brought price right into that 1.2900 area where I anticipate long participation since a few weeks now. A few people think today's price action is going to change the Euro weekly patterns (those very same people could have their head handed over to them if they traded the news today), but the pattern will only change if price moves below the 1.2715 level. I am talking about swing trades here (those who read my post know that's my trading style).

Some people remain objective in the face of news and the emotions they bring about. I will keep trading my method that has served me nicely and I believe it will keep doing so. I am living for a planned trip abroad so I will leave my longer-term view on FF. I will return on April the 7th and will resume posting after that. I know some people don't like my style of analysis and trading (of course, could it be different? We are all different) and I am not going to argue with them. I write for those who want to have access to a slightly different read of the markets to entertain or help complement their own analysis.

Hereunder the chart and the analysis:

http://www.forexfactory.com/attachme...1&d=1363624976

The scenarios I see are the following:

Scenario 1. This is the original scenario which is still up and running, besides yesterday's Cyprus news. This is the highest probability scenario.I believe the market knew already what was happening in Cyprus since a few weeks and this was reflected in price. I am more prone to believe that price has already discounted this, rather than the opposite. If this news was truly affecting the Euro currency, we would have probably seen price continue lower in the morning instead of reversing. Also Euro price tested the 200-day SMA, watched by a lot of retail traders. We have seen the Euro rally in the face of the hardest times in Europe in the last 3-4 years. Nothing to be surprised of. Of course, anything can happen, but I will stick to the long weekly pattern my method is giving me, until that pattern is invalidated. Swing targets in the 1.4090-1.4100 area.

Scenario 2. Should price keep moving lower and through the 1.2715 level (lower probability), I would then anticipate price moving down into the next long level participated by Program Trading, which is 1.2650. Here two different scenarios could open up: 2a and 2b.

Scenario 2a. Price could find participation into the next level of participation on the downside at the 1.3180 area; at this stage 2 more scenario would open up (2a,1 and 2a,2, see below)

Scenario 2b. Price could just keep moving lower and below 1.2515 a retest of 1.2140 would be possible.

Scenario 2a,1. Once at 1.3180, price could just continue higher above 1.3320; or

Scenario 2a,2. Once at 1.3180, price could continue lower towards its first target at the 1.24 area.

Good luck to you all and see you soon.
Cheers
G.

Cheers Steve

I agree 100% although I don't look at SMA's or Technical Indicators except for price but I do see a big push up. I posted latest CoT and looks like EU is ready to continue the trend up. I really am trying to learn how to ad to my swing trades and I would love to turn them into longer than normal Swing trades for like a few weeks or so however this has been most challenging. I do have my meathod of finding enteries however lately it seems I can keep a trade for no longer than 3 to 5 days sometimes into the next week but that is about it. I am trying to find the most optimal time to add to my trades for price to continue on in my direction (I guess I need to really focus on my ATR just a little to do this).

http://www.forexfactory.com/showthre...93#post6524293 Check this out, I think it will help confirm what you are talking about in scenerio 1.

Sold 1/2 position @2964, SL 2980 for the rest of the lot. TP=floating

well done

guys had +21 & done for today
hope my chart posts gives you some clues about fprmations

see you tomorrow
trade well

Good trading, see you tomorrow.
I will spend some more hours here and see how far down we wiull go today.

I am also around
just not trading
reading emails

do you know where most of the traders loose this game.

they loose the game when they loose.
yes funny

when they loose a trade they get mad & loose totally with the reactions taken against that loss