Disliked{quote} 1.0580 has been reached - +70 pips ACCU pivot point too {image}Ignored
Can we continue to pursuit the extension tp as mentioned at 1.052?
- #22,225
- Nov 26, 2015 7:05am Nov 26, 2015 7:05am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Does EUR/GBP still valid from the first POC...I'm still holding this trade {image}
It rejected for 70 pips initially
- #22,226
- Nov 26, 2015 7:06am Nov 26, 2015 7:06am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
The EURAUD pair is in a strong downtrend. We can see that the pair is literally swimming through equidistant channel. A precise zigzag pattern inside an equidistant channel is telling us that the pair is sold on rallies. However we can also see - Inverted Head and Shoulders pattern and the price is very close to POC. 1.4725-40 is the zone where we could look for rejections. POC (61.8, E89, bullish order block) is also aligned with historical sellers.
The current price is 1.4696 and we can also see 2 pinbar rejections which are telling us that the price may drop from the current level too.(INV Head and Shoulders neckline). Anyway it is a good time to be ready for any action which might happen now or in POC zone. The target for the move is 1.4625 and if the level is broken we should see 1.4590. Only if 1.4590 breaks the target is 1.4500 - a continuation trade.
The current price is 1.4696 and we can also see 2 pinbar rejections which are telling us that the price may drop from the current level too.(INV Head and Shoulders neckline). Anyway it is a good time to be ready for any action which might happen now or in POC zone. The target for the move is 1.4625 and if the level is broken we should see 1.4590. Only if 1.4590 breaks the target is 1.4500 - a continuation trade.
- #22,230
- Nov 27, 2015 10:06am Nov 27, 2015 10:06am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
EURAUD +60 pip rejection prior to bounce
- #22,232
- Nov 29, 2015 12:03pm Nov 29, 2015 12:03pm
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Hi guys, I have just published a new blog entry focusing on - how not to lose the money when trading.
You can read it HERE
You can read it HERE
- #22,235
- Nov 30, 2015 2:21am Nov 30, 2015 2:21am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Hey T@rantula! Got another question for you: did you ever take part in some of the Forex contests or do you think that it is total waste of time? Cuz I wanted to take a part in some of the contests and I am not sure if I should. Of course, I do not dream about winning main prize in the contest or finishing in top-3. But for me, knowing how good I am in comparison to other traders is important. How do you think, is it worth it? Furthermore, I would be grateful if you will tell me which one of these contests: http://forextradingbonus.com/forex-competitions-list/...
Yes i have taken a part only once. I was in the top 10 during first day but later I finished positive yet far from winners. Demo competitions are fun but not to be confused with REAL trading. So for me , it was hard to abandon strict MM rules. MM doesnt work in demo competition.
However it is a fun thing and if you win it you can earn a real credit to your account. As for the website. Yeah, it looks good, so traders can pick up whatever they want. I advise going with Admiral Markets ofc
Fully regulated FCA license and a real thing.
- #22,236
- Nov 30, 2015 3:05am Nov 30, 2015 3:05am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
There are two VERY imporant, key meetings this month. FED and ECB. ECB meeting is scheduled for this Thursday and we need to be very careful. There is a possibility for a rate cut by 10/20 bp although the expectations are that there will be no cut, but we need to be prepared for everything. The inflation is low, EU zone recovery is stagnant, EM (Emerging Markets) are slowing down and ECB could take action. Adding to that I also expect further QE.
Technically the EURUSD is contained within the equidistant channel and we might see some weaker price action until Thursday. That being said the pair is still in "Sell the Rallies" mode. The first POC (DPP,38.2,E89) is in 1.0610-20 zone while the 2nd POC is just a bit higher in 1.0640-50 zone ( double top, EQ channel high, 61.8). If the pair manages to stay below 1.0690 we could see a further drop towards 1.0520.
EURUSD is moving slowly which is normal considering an upcoming ECB meeting and I dont expect anything big before Thursday.
Technically the EURUSD is contained within the equidistant channel and we might see some weaker price action until Thursday. That being said the pair is still in "Sell the Rallies" mode. The first POC (DPP,38.2,E89) is in 1.0610-20 zone while the 2nd POC is just a bit higher in 1.0640-50 zone ( double top, EQ channel high, 61.8). If the pair manages to stay below 1.0690 we could see a further drop towards 1.0520.
EURUSD is moving slowly which is normal considering an upcoming ECB meeting and I dont expect anything big before Thursday.
- #22,238
- Dec 1, 2015 12:06am Dec 1, 2015 12:06am
- | Joined Jan 2015 | Status: Zaedno pravi sila. Cosmos e za nas. | 1,932 Posts
- #22,240
- Dec 1, 2015 12:31pm Dec 1, 2015 12:31pm
Hey T@rantula!
Thanks for a reply about demo competitions, probably I will go for Forexball in the beginning of 2016, but we will see
Anyway, how many Forex books did you you read before you started trading? And how is your overall impression about Forex education, is it required for the beginning or should I just go into trading and see how it goes?
I was thinking about reading this book: http://forex-library.com/steve-nison...arting-basics/, what is your opinion about it, or should I read something else?
Thanks
Thanks for a reply about demo competitions, probably I will go for Forexball in the beginning of 2016, but we will see
Anyway, how many Forex books did you you read before you started trading? And how is your overall impression about Forex education, is it required for the beginning or should I just go into trading and see how it goes?
I was thinking about reading this book: http://forex-library.com/steve-nison...arting-basics/, what is your opinion about it, or should I read something else?
Thanks