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EURUSD

  • #908,021
  • Jul 1, 2014 5:38am Jul 1, 2014 5:38am
Dollar on the defensive but logic says EURUSD should have a limit on its upside ahead of the ECB meeting.

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  • #908,022
  • Jul 1, 2014 5:39am Jul 1, 2014 5:39am
Quoting Vachus
{quote} Ah, okay ... Still, it is i don't know - the Dollar index broke two levels without looking back ... so, there is a fair chance of a pull back! (Don't bet the farm)
okay okay thanks for your reply. I closed all 3 trades at 3692. Dont like the pause at this area. will sit and wait for next opportunity.
  • #908,023
  • Jul 1, 2014 5:39am Jul 1, 2014 5:39am
Quoting MaxDoom
{quote} back to EU.. I bought this again @ 3681 looking for that top test currently it is test H4-PP {image}
Hi Max. I have a question if you don't mind answering. I have been playing with h4 pivots and i find it useful. I am wondering about the GMT time. How much does it matter and why?

Thanks
less is more
  • #908,024
  • Jul 1, 2014 5:40am Jul 1, 2014 5:40am
This could easily explode north...with next target in the 1.3720-30 area;ill stay out for now
  • #908,025
  • Jul 1, 2014 5:43am Jul 1, 2014 5:43am
Quoting littlesmall
{quote} okay okay thanks for your reply. I closed all 3 trades at 3692. Dont like the pause at this area. will sit and wait for next opportunity.
GFY
"It's the Margin, Stupid."
  • #908,026
  • Jul 1, 2014 5:52am Jul 1, 2014 5:52am
Quoting Chicago
{quote} Quite right. And that's why I used the "If". I still don't understand why most traders think of short when no evidence is present. I guess that's the reason most of us are losing money- the urge to predict rather wait for the price to show its direction. Sooner or later shorties will be right but I think some of them won't be around to profit from it. Throw away the complicated charts with bearish butterflies, rhinos, elephants or whatever. Sentiment is still bullish until solid signs- failure to break recent high- correction- another failed...
what!! shit i have a one eyed porcupine on 5min chart, it is very reliable signal for a 200pip trip south,
If you are new to Forex? Say Goodbye to your account!!
  • #908,027
  • Jul 1, 2014 5:57am Jul 1, 2014 5:57am
Quoting milam
short 3693 risking 10 pips
trailed SL 3698 risking 5 pips
Wherever you go, there you are.
  • #908,028
  • Jul 1, 2014 6:03am Jul 1, 2014 6:03am
Quoting littlesmall
{quote} okay okay thanks for your reply. I closed all 3 trades at 3692. Dont like the pause at this area. will sit and wait for next opportunity.
Good for you
"It's the Margin, Stupid."
  • #908,029
  • Jul 1, 2014 6:07am Jul 1, 2014 6:07am
Quoting KiwiTrada
{quote} what!! shit i have a one eyed porcupine on 5min chart, it is very reliable signal for a 200pip trip south,
oops I was looking at wrong end of porcupine, checked other end and is a 2 eyed porcupine, which is very good signal for 2 pip trip south, that pattern has played out, 2 pip in the bank, on to the next one
If you are new to Forex? Say Goodbye to your account!!
  • #908,030
  • Jul 1, 2014 6:11am Jul 1, 2014 6:11am
closed all my trades, 4 trades 173, 129,70 and +20, took two weeks, risking 10% per trade, made around 40%.
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Wherever you go, there you are.
  • #908,031
  • Jul 1, 2014 6:11am Jul 1, 2014 6:11am
Quoting pedro319
{quote} Today price touched .786 Retracement Daily chart (from last swing) and now let's see what type of candle we get on 4 hours and dailly.
Price has reacted to the .786 Ret Daily, there is positive divergence on Daily chart as well, so no reason to close long positions yet.
We watch the charts from every angle so you don't have to!!
  • #908,032
  • Jul 1, 2014 6:16am Jul 1, 2014 6:16am
Quoting milam
closed all my trades, 4 trades 173, 129,70 and +20, took two weeks, risking 10% per trade, made around 40%. {image}
Nicely done, you could keep them going bit longer as it should breach 1.37
  • #908,033
  • Jul 1, 2014 6:19am Jul 1, 2014 6:19am
Quoting milam
closed all my trades, 4 trades 173, 129,70 and +20, took two weeks, risking 10% per trade, made around 40%. {image}
I think you gonna regret it ... it looks like we are going higher!
Price stalled again, like yesterday
"It's the Margin, Stupid."
  • #908,034
  • Jul 1, 2014 6:19am Jul 1, 2014 6:19am
Quoting pedro319
{quote} EURUSD 1.27 Extension reached on 4 hours chart, I still think 1.618 + weekly R1 should follow. That is the only place where I consider any shorts, this is subject to PA around this level obviously!
EURUSD
Price has hit our targets and exceeded, now price has taken out the specified level and invalidated the possibility for Butterfly buy at 1.3474, this is 38.2 Ret on Daily chart therefore I am not shorting it yet without any reversal pattern or candlestick. I will wait a bit more and keep longs.
We watch the charts from every angle so you don't have to!!
  • #908,035
  • Jul 1, 2014 6:24am Jul 1, 2014 6:24am
Quoting pedro319
{quote} EURUSD Price has hit our targets and exceeded, now price has taken out the specified level and invalidated the possibility for Butterfly buy at 1.3474, this is 38.2 Ret on Daily chart therefore I am not shorting it yet without any reversal pattern or candlestick. I will wait a bit more and keep longs.
Hi...invalidated or validated?
  • #908,036
  • Jul 1, 2014 6:25am Jul 1, 2014 6:25am
Quoting pedro319
{quote} GOLD We have opportunity to trade based on current setup, this is only a rectangle on the 1 hour chart but with that and according to the theory; rectangle width should provide estimation for next move in case we have an upward or downward breakout. The targets are the ones still in last post, 1335 is completion of major ABCD 4 hours chart (1.618 Extension) and 1290 50% retracement of current move. You can trade using last kiss technique or any other one that suits your style. I will update on this as the breakout comes. My bias here is...
GOLD
Price has (almost) hit our upper target and now turns down for retracement, 61.8 ret was completed from last swing on weekly chart and this is very important area if we are to resume downtrend, at the same time price has gone back into the consolidation range which is a bearish sign. I am shorting from slightly higher and stops above 1335. My target is 1290 as said in previous research. Will start closing some at 1335 and all after 1400.
We watch the charts from every angle so you don't have to!!
  • #908,037
  • Jul 1, 2014 6:26am Jul 1, 2014 6:26am
Quoting Vachus
{quote} I think you gonna regret it ... it looks like we are going higher! Price stalled again, like yesterday
you must be joking, I never regret putting money in my pocket, I am not an idealist, I am a business man... money is money ......I like to be wrong and make money...every day..

in technical terms.....the sterling is overbought........
Wherever you go, there you are.
  • #908,038
  • Jul 1, 2014 6:30am Jul 1, 2014 6:30am
Quoting janpec1000
{quote} Nicely done, you could keep them going bit longer as it should breach 1.37
Thank you...yes it could.......but I see bulls with smaller balls....I might be wrong....I do not care.....if I right I might buy lower....where? I do not know, I let PA guide me...
Wherever you go, there you are.
  • #908,039
  • Jul 1, 2014 6:36am Jul 1, 2014 6:36am
Higher US yields today and still depressed US dollar.

We are back to our regular schedule:
Sell USD against everything.
It will be fun now to see what excuses they will come up with for renewed EURO strenght: Yields are higher on US, current account turning in some countries, and PMIs also turning, except for Spain good numbers.

I hope they get it right this time.
  • #908,040
  • Jul 1, 2014 6:37am Jul 1, 2014 6:37am
Quoting HareshBM
Seems that EURUSD is all set for a big move on either side, as is depicted by formation of a symmetrical triangle on 4-hourly chart. Would wait till the pair decisively breaks above 1.3630 or drops below 1.3590. Expecting it to move towards either towards 1.3680-90 or to 1.3520-1.3500 once it breaks the 1.3630-1.3590 range. {image}
Now that the pair has already made its move to 1.3690, would now look for long entry only once it breaks above 1.3700 aiming 1.3730.
1.3660 would be interesting to watch on the downside, if decisively breaks below would be inclined to initiate a short trade for a potential drop till 1.3620.
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