The true fact is market doesn't care, risk mgt is important.
Hello, traders!
In my humble opinion the bullish trend is over and we are expecting to see the bearish trend with target around 0.81.
My analysis is based on the weekly charts where the trend is bearish. Also you can see that on the daily TF the price is below EMA 21 and EMA 8 is going to cross it down. For me it's a signal to short this PA and hold until the end of the May. Also we know the phrase:"Sell in May and go away!" The history is repeating every year here on FX market. US market has fallen down significantly on Friday. So, I guess on Monday the EU markets will be on red territory as well.
I wish all of you safe trading and great pips!
All the best
In my humble opinion the bullish trend is over and we are expecting to see the bearish trend with target around 0.81.
My analysis is based on the weekly charts where the trend is bearish. Also you can see that on the daily TF the price is below EMA 21 and EMA 8 is going to cross it down. For me it's a signal to short this PA and hold until the end of the May. Also we know the phrase:"Sell in May and go away!" The history is repeating every year here on FX market. US market has fallen down significantly on Friday. So, I guess on Monday the EU markets will be on red territory as well.
I wish all of you safe trading and great pips!
All the best
- #76,805
- Edited 8:06am Apr 26, 2014 7:36am | Edited 8:06am
- Joined Apr 2014 | Status: Trader | 719 Posts
After a little bit more digging myself, I do wonder if we're about to see a "balancing rally" to close longs and get good short entries by the end of the month before the best of the bear run starts.
(I'd post a chart but it's pretty boring - Green candles, red candles and a stochastic....)
- support for higher price exists on the monthly stoch.
- support for the bearish action exists on the weekly.
- support near over sold (undervalued) condition exists on daily
- a run up to the 9450's area creates a double top on the daily chart
I run my own "target prediction" setup I've worked on for quite some time. This information is derived from Weds. (4/23) price action.
Coming out of this week there are two clear target areas still open: 9310 and 9450. (I have NO timing prediction on these AT ALL.)
It's not like we never have rallies that make us all wonder how in the world that could happen right now, right?
Thursday's analysis:
.9278 short open here...low volume able to handle some drawdown.
(I'd post a chart but it's pretty boring - Green candles, red candles and a stochastic....)
- support for higher price exists on the monthly stoch.
- support for the bearish action exists on the weekly.
- support near over sold (undervalued) condition exists on daily
- a run up to the 9450's area creates a double top on the daily chart
I run my own "target prediction" setup I've worked on for quite some time. This information is derived from Weds. (4/23) price action.
Coming out of this week there are two clear target areas still open: 9310 and 9450. (I have NO timing prediction on these AT ALL.)
It's not like we never have rallies that make us all wonder how in the world that could happen right now, right?
Thursday's analysis:
Level predictions (NOT Trade suggestions...just my interpretation of price action based on my own system from right now and through this week): Test of the 9310 area to clarify a short target of approx. 9225. upper 9270s/9280s beginning to develop as a possible intraday long target. This could develop into a confirmation of the 9310 area. Personal plan - no shorts until 9270/80 rage at minimum with 9220s targets. 9450s also coming into view as a longer term long target.
"Holy Grail" exists - accepting where is the first step.
- #76,806
- Edited Apr 28, 2014 4:50am Apr 27, 2014 10:14pm | Edited Apr 28, 2014 4:50am
- Joined Feb 2012 | Status: Trader | 5,619 Posts
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
- #76,807
- Apr 27, 2014 10:50pm Apr 27, 2014 10:50pm
I am still holding my longs.hi dude, holding long for long term is a better choice. the bottom could have hit at 0.86.
historical price movement indicates that MAY is the month of retracement. people say, run away in MAY, but good time to buy
- #76,809
- Apr 28, 2014 2:55am Apr 28, 2014 2:55am
- Joined Jun 2013 | Status: Poor Man | 1,085 Posts
The good thing with the future is that it is progressively approaching...
- #76,810
- Apr 28, 2014 3:34am Apr 28, 2014 3:34am
- Joined Aug 2013 | Status: Trader | 4,894 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #76,811
- Apr 28, 2014 5:09am Apr 28, 2014 5:09am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
On the Daily chart. As with the 4H chart, price has broken to the downside but at present we have a retracement.
Waiting to enter for wave 3.
The automatic support indicator has found the supports for me.
So if we use our brains, we wait for the line to be broken & enter at 0.9240. 1st target should be around 0.9080. Smack on the 61.8% Fib' retrace.
The CCI is telling us to hold short if already in the trade or go short when the above conditions are met.
If it breaks North, nothing lost as I won't be in the trade until 0.9240.
Waiting to enter for wave 3.
The automatic support indicator has found the supports for me.
So if we use our brains, we wait for the line to be broken & enter at 0.9240. 1st target should be around 0.9080. Smack on the 61.8% Fib' retrace. The CCI is telling us to hold short if already in the trade or go short when the above conditions are met.
If it breaks North, nothing lost as I won't be in the trade until 0.9240.
Money Makes Money
On the Daily chart. As with the 4H chart, price has broken to the downside but at present we have a retracement. Waiting to enter for wave 3. The automatic support indicator has found the supports for me.
Don't blame the tools. Blame the carpenter.
- #76,813
- Apr 28, 2014 5:21am Apr 28, 2014 5:21am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
{quote} With low market volatility, it is easy for big boys to manipulate price, i agree to take caution. Today is monday after all.
Money Makes Money
- #76,815
- Apr 28, 2014 6:02am Apr 28, 2014 6:02am
- Joined Jun 2013 | Status: Poor Man | 1,085 Posts
The good thing with the future is that it is progressively approaching...
- #76,816
- Apr 28, 2014 6:09am Apr 28, 2014 6:09am
- Joined Jun 2013 | Status: Poor Man | 1,085 Posts
The good thing with the future is that it is progressively approaching...
- #76,819
- Apr 28, 2014 8:51am Apr 28, 2014 8:51am
- Joined Jun 2013 | Status: Poor Man | 1,085 Posts
The good thing with the future is that it is progressively approaching...
- #76,820
- Apr 28, 2014 8:56am Apr 28, 2014 8:56am
- Joined Jun 2013 | Status: Poor Man | 1,085 Posts
The good thing with the future is that it is progressively approaching...