ECB spike on reversal
Elliott Wave for optimum entry, exit and risk management of trades
EUR/NZD for December 8, 2015
Wave summary:
Our call for a rally from a corrective low of 1.6053 (61.8% of the rally from 1.5784 to 1.6490) perfectly worked and we are already trading at near important short-term resistance of 1.6380. A breakout above 1.6380 will confirm a continuation higher to a high of 1.6490 and above here is likely to call for a movement towards 1.7191.
There is a risk that the correction from 1.6490 turns out to be more complex, but both the price and time is enough to push us directly above resistance at 1.6380 and more importantly above 1.6490 for a rally towards 1.7191.
Trading recommendation:
We are long EUR from 1.6065 with stop placed at 1.6045. If you are not long EUR already the buy near 1.6140 or upon a breakout above 1.6380. Use the same stop at 1.6045.
Wave summary:
Our call for a rally from a corrective low of 1.6053 (61.8% of the rally from 1.5784 to 1.6490) perfectly worked and we are already trading at near important short-term resistance of 1.6380. A breakout above 1.6380 will confirm a continuation higher to a high of 1.6490 and above here is likely to call for a movement towards 1.7191.
There is a risk that the correction from 1.6490 turns out to be more complex, but both the price and time is enough to push us directly above resistance at 1.6380 and more importantly above 1.6490 for a rally towards 1.7191.
Trading recommendation:
We are long EUR from 1.6065 with stop placed at 1.6045. If you are not long EUR already the buy near 1.6140 or upon a breakout above 1.6380. Use the same stop at 1.6045.
- #263
- Dec 8, 2015 4:30pm Dec 8, 2015 4:30pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
Looks like I can have some fun here with this descending triangle. currently short, but I would expect it to pop out to the long side of this when the break out does actually happen. Let's hope that it does not happen when I am asleep!
Good Trading Friends!
Good Trading Friends!
"Keep your eyes on the helpers" - Mr. Rogers
- #264
- Dec 8, 2015 5:40pm Dec 8, 2015 5:40pm
- Joined Jul 2011 | Status: Gold Again | 10,639 Posts
Looks like I can have some fun here with this descending triangle. currently short, but I would expect it to pop out to the long side of this when the break out does actually happen. Let's hope that it does not happen when I am asleep! Good Trading Friends!
It takes a lot for me to IGNORE you, but you can try.
- #265
- Dec 8, 2015 6:12pm Dec 8, 2015 6:12pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
{quote} That depends, what time is this news at your place?
Good Trading Friend!
"Keep your eyes on the helpers" - Mr. Rogers
- #266
- Dec 11, 2015 3:55am Dec 11, 2015 3:55am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Buying the dip at the beginning of a major bull trend
Elliott Wave for optimum entry, exit and risk management of trades
- #267
- Edited Dec 18, 2015 7:22am Dec 17, 2015 3:13pm | Edited Dec 18, 2015 7:22am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
RED ALERT on EURNZD - poised for swift rally at the beginning of multi-years advance.
Long term:
Long term:
Elliott Wave for optimum entry, exit and risk management of trades
- #269
- Dec 30, 2015 3:52am Dec 30, 2015 3:52am
- | Joined Nov 2014 | Status: Trader | 1,140 Posts
m1 target, going to give it some space
- #271
- Feb 9, 2016 9:17pm Feb 9, 2016 9:17pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
went in to short, euro is still in a mess, as long as risk off is over, euro will go down.
Elliott Wave for optimum entry, exit and risk management of trades
- #272
- Feb 9, 2016 9:26pm Feb 9, 2016 9:26pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Setting out on a downward trend after near maximum retracement of wave 2 or development of right shoulder.
SL @ invalidation of upper channel line for good R/R.
SL @ invalidation of upper channel line for good R/R.
Elliott Wave for optimum entry, exit and risk management of trades
- #274
- Feb 16, 2016 9:04pm Feb 16, 2016 9:04pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
A potential SHORT setup of the month for EURNZD :
Unless the upper channel line is invalidated @ 1.7190, expecting a resumption of downtrend in the area between 0.6182 & 0.8 retracement level, setting stage for an impulse 3 of long term decline.
Unless the upper channel line is invalidated @ 1.7190, expecting a resumption of downtrend in the area between 0.6182 & 0.8 retracement level, setting stage for an impulse 3 of long term decline.
Elliott Wave for optimum entry, exit and risk management of trades
- #275
- Jun 6, 2016 11:51pm Jun 6, 2016 11:51pm
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
Long term sell opportunity based on simple but efficient pattern 123 :
Aggresive entry with obligatory covering action would be here :
Long term sell opportunity based on simple but efficient pattern 123 : {image}
Money moves the market, not an indicator.
- #276
- Jun 7, 2016 3:39am Jun 7, 2016 3:39am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
Long term sell opportunity based on simple but efficient pattern 123 : {image} {quote} Aggresive entry with obligatory covering action would be here : {image}
Money moves the market, not an indicator.
- #277
- Jun 8, 2016 8:41am Jun 8, 2016 8:41am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{quote} Update : time to mitigate risk with 100% . Cover the position and wait to see if price will continue fall before adjusting SL : {image}
Time to take risk management decision.
Now waiting for the Long term sell to trigger, with locked profit and a chance for great reward :
Long term sell opportunity based on simple but efficient pattern 123 : {image} {quote} Aggresive entry with obligatory covering action would be here : {image}
Money moves the market, not an indicator.
- #278
- Jun 9, 2016 12:23am Jun 9, 2016 12:23am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{quote} Update : time to mitigate risk with 100% . Cover the position and wait to see if price will continue fall before adjusting SL : {image}
Huge gap last night, it is possible a deeper correction to take place.
Money moves the market, not an indicator.
- #279
- Jun 9, 2016 12:32am Jun 9, 2016 12:32am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{quote} Update : Huge gap last night, it is possible a deeper correction to take place. {image}
Money moves the market, not an indicator.
- #280
- Jun 13, 2016 2:21am Jun 13, 2016 2:21am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{quote} {image}
Update :
Money moves the market, not an indicator.