Consider good time to short now?
Attached Image (click to enlarge)
- #85
- Edited 9:55am Apr 2, 2014 9:28am | Edited 9:55am
{quote} I will wait it reach the white area(about 1.1010 - 1.100). Just my opinion though. {image}
EUR/GBP Short {image} I would like to recommend this, a stop loss above 0.8330 is required. EUR/AUD short - Higher Risk {image} I would like to recommend this too. At least 50 pips play is required.
I also hope those who look at this thread yesterday make some decent 20 pips at EUR/GBP and 40 pips at EUR/AUD
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@Wether, the E/J chart was correct, I did went in at that spot, did you went in?
You can actually check JPY pairs resistance using Usd/Jpy Too !
For all the EUR cross pairs
Its a risk, but a break below 60 will see we test 45 very soon. (EUR/USD) or a retracement to the 90 zone is very possible. Just be careful.
1 thing you can't be sure is whether ECB will take actions tommorow. The reaction to me is
1) Rally to break 1.38 - If no rate cut
2) IT might test 1.3820 , then break lower when Draghi talk.
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Why the ECB might not cut rate or negative deposit despite the 0.5% inflation, very simple.
What euro zone need is investment, they need make euro stable, cutting rate will discourage investment in some ways, also knowing that the inflation is at 0.5%, but the core inflation are stable at 0.8%, which the transition(not so important) reading are lower so I doubt any action will be taken so fast.
So the initial reaction could be a knee jerk rally by euro, follow by a retracement.
You are warned, since 75% of trader like us(retail/speculator) are shorting EURO because of the low inflation, the chances are the shorter will get wash away first, before a real down trend begin.
Thats my 2 cents thoughts. If you can escape now without much loss, just do it. I wish for this moment since yesterday, I make 30 pips average per euro trade, I open like near 5 lots. which i quite happy I did escape now.
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The EURO/USD Chart
If you notice the price is ranging between the yellow box and orange box.
I only think EURO will drop if only they implement some nasty negative deposit rate which I doubt will put in place since CORE CPI is stable as of now.
I not trying to convince you to close your euro position, but sometime I believe its important to "secure" your capital rather than speculate with 50% chance.
Anyway I will re-open EURO position if its hit my heavy support/resistance zone.
Learn to Trade is Important. Keep your bias & ego aside.
- #87
- Edited 10:20am Apr 2, 2014 9:57am | Edited 10:20am
I did a small experiment, did a LONG with EUR/USD
SL I am using 30 pips below recent range low. Its better to use 35 pips thou.
My target is a 20-30 Pips profit
Its currently at recent support, which historically proven strong.
USD is relatively slightly strong now, as major usd pairs are falling in value. Just trade with care.
SL I am using 30 pips below recent range low. Its better to use 35 pips thou.
My target is a 20-30 Pips profit
Its currently at recent support, which historically proven strong.
USD is relatively slightly strong now, as major usd pairs are falling in value. Just trade with care.
Learn to Trade is Important. Keep your bias & ego aside.
{quote} Congrat Daniel, you sort of master the simple technique I trying to brought forward. The chart is very well shared. {quote} I also hope those who look at this thread yesterday make some decent 20 pips at EUR/GBP and 40 pips at EUR/AUD ------------------------------- @Wether, the E/J chart was correct, I did went in at that spot, did you went in? You can actually check JPY pairs resistance using Usd/Jpy Too ! For all the EUR cross pairs Players Traders, be careful, either book your profit or be prepare for another test of high by EURO as...
i'm thinking something about the point where we can exactly enter in a trade. For sure here there are trader better than me and can give me some answers. When we talk about heavy support and resistance we refer about a price zone where it's nice to buy /sell. The problem is where exactly it's better to insert the trade, i will try to be more clearly. Watch the photo. If i buy in a resistance zone maybe price can hit the order but still go up for others pips in the resistance zone, so we should the position hold until it go in profit, or in lose....
Notice how price bounce at certain price ,e.g 1.3750 for EU and 1.4870 for E/A at the past few hours.
I entry for E/A long and make a sweet 30-40 pips profit (Din't post chart here). My E/U is currently break even
Learn to Trade is Important. Keep your bias & ego aside.
