New voice message: Why are you calling me? If I need you, I'll call you!
- Post #1,101,161
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- Apr 1, 2017 4:11am Apr 1, 2017 4:11am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
- Post #1,101,162
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- Apr 1, 2017 4:14am Apr 1, 2017 4:14am
- Joined Jun 2016 | Status: Member | 273 Posts
Lord Forex
- Post #1,101,163
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- Apr 1, 2017 6:49am Apr 1, 2017 6:49am
- Joined Sep 2011 | Status: Member | 6,363 Posts
A good trader follows his rules, but great trader knows when to break them
- Post #1,101,164
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- Apr 1, 2017 7:45am Apr 1, 2017 7:45am
- Joined Oct 2007 | Status: Sniper | 14,769 Posts
- Post #1,101,165
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- Apr 1, 2017 8:58am Apr 1, 2017 8:58am
- | Joined Nov 2016 | Status: Member | 16 Posts
Just in 3 days{image}
- Post #1,101,166
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- Apr 1, 2017 9:57am Apr 1, 2017 9:57am
Just in 3 days
- Post #1,101,167
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- Edited 1:31pm Apr 1, 2017 10:40am | Edited 1:31pm
- Joined May 2015 | Status: Member | 1,148 Posts
Hi guys,
I would like to share my thoughts on EUR/USD for the coming week.
Daily
As we can see on the daily chart we are still in a rising wedge which means continuation down for the long term trend.
Ofcourse the wedge is not complete until price breaks the support line.
If price breaks this support I think it could continue to the 036x level for a touch on the long term wave2 downtrend-line.
But price broke FE 61.8 so the bears took profit and our momentum on short term downtrend is slowing down.
H4
Looking at the H4 we are about to hit the wave 3 intermediate uptrend-line and we are at fib 61.8.
If price breaks the probability of continuation is going up and a new intermediate down trend could be formed, but this is only comfirmed when price breaks the low on the intermediate uptrend @ 049x.
Ofcourse we have to keep in mind the wedge's support, this can also be a level for reversal.
Momentum was strong on the short term down trend last week and in my opinion it's not likely this will continue without a retracement.
If we apply Fib Time zones on our previous down trend a reversal could be coming up.
That's why I think the 0650 - 0630 level could be a good zone to go long.
If price breaks wave 3 (Red) on the intermediate uptrend we could be on our way to break the wedge support.
H1
Looking at the H1 we are in a down channel where the resistance line (red) is our first wave on our short term trend.
The wave 3 intermediate uptrend-line (red) could be a good place to look for longs @0638 for a touch on the TL with S/L's at 061 - 057.
I'll wait for comfirmation on slowing trend and apply a buy stop for when price breaks the short term down-TL.
The blue horizontal lines represent the levels to watch when going long. I will use these levels to move the S/L up.
Fib 61.8 has, in my opinion the highest potential for a reversal because of the crossing with wave 2.
This would be a good place to take profit or move S/L higher.
If price breaks the wave 2 intermediate uptrend-line (Blue); FE 61.8, wave 3 long termd downtrend-line (green) and wedge resistance (black) could be a good T/P zone @ 086x.
I would like to share my thoughts on EUR/USD for the coming week.
Daily
As we can see on the daily chart we are still in a rising wedge which means continuation down for the long term trend.
Ofcourse the wedge is not complete until price breaks the support line.
If price breaks this support I think it could continue to the 036x level for a touch on the long term wave2 downtrend-line.
But price broke FE 61.8 so the bears took profit and our momentum on short term downtrend is slowing down.
H4
Looking at the H4 we are about to hit the wave 3 intermediate uptrend-line and we are at fib 61.8.
If price breaks the probability of continuation is going up and a new intermediate down trend could be formed, but this is only comfirmed when price breaks the low on the intermediate uptrend @ 049x.
Ofcourse we have to keep in mind the wedge's support, this can also be a level for reversal.
Momentum was strong on the short term down trend last week and in my opinion it's not likely this will continue without a retracement.
If we apply Fib Time zones on our previous down trend a reversal could be coming up.
That's why I think the 0650 - 0630 level could be a good zone to go long.
If price breaks wave 3 (Red) on the intermediate uptrend we could be on our way to break the wedge support.
H1
Looking at the H1 we are in a down channel where the resistance line (red) is our first wave on our short term trend.
The wave 3 intermediate uptrend-line (red) could be a good place to look for longs @0638 for a touch on the TL with S/L's at 061 - 057.
I'll wait for comfirmation on slowing trend and apply a buy stop for when price breaks the short term down-TL.
The blue horizontal lines represent the levels to watch when going long. I will use these levels to move the S/L up.
Fib 61.8 has, in my opinion the highest potential for a reversal because of the crossing with wave 2.
This would be a good place to take profit or move S/L higher.
If price breaks the wave 2 intermediate uptrend-line (Blue); FE 61.8, wave 3 long termd downtrend-line (green) and wedge resistance (black) could be a good T/P zone @ 086x.
What's that smell? ---- I smell money!
- Post #1,101,168
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- Apr 1, 2017 10:42am Apr 1, 2017 10:42am
It went up and you close some orders, but then you open even more at "high levels", that way is hard to manage an account...either way, I'm on this with you cause I trade in a similar way, but with much smaller lots. Good luck
- Post #1,101,169
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- Apr 1, 2017 10:48am Apr 1, 2017 10:48am
- | Membership Revoked | Joined Feb 2016 | 590 Posts
Just in 3 days
Risk comes from not knowing what you're doing.
- Post #1,101,170
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- Apr 1, 2017 2:36pm Apr 1, 2017 2:36pm
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 39,006 Posts
{quote} out of shorts. expected 6400, i'm not gonna cry about 15 more pips. have a good one peeps.
- Post #1,101,171
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- Apr 1, 2017 2:50pm Apr 1, 2017 2:50pm
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
For what it's worth, the last monthly candle is obviously 'Bullish' having said that, we should be looking for buy trades.. 1.060 might give us the 'wicked' bounce so I'll keep an eye on that as well ... Great Weekend Everyone'P.S don't drink and walk' WELCOME TO APRIL {image}
I would say "drink and don't walk" for a weekend like this.
New voice message: Why are you calling me? If I need you, I'll call you!
- Post #1,101,172
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- Edited 3:16pm Apr 1, 2017 2:56pm | Edited 3:16pm
- Joined Oct 2007 | Status: Sniper | 14,769 Posts
{quote} Well , no bounce from here or slightly below here , there will be a lot more than 15 pips available,,,, weekly chart it takes a while to play out ,,,,,,,,,, till it dont ,,,,,,,,this quarter starting is the last good quarter before the summer doldrums ,,,,,could be quite interesting, time will tell ,,,,,,,,,, ,enjoy the rest of your weekend . {image}
momentum exhaustion is what i meant.
of course it can move down a bit, but my designated target was close enough, plus the weekend.
also need some time off. i want a break. lol
kind of draining this week reading all crap and dick swing contest this entire week.
not to mention the professor know it all... you know what i mean...
/r
p.s. i don't trade for 15 pips. i'm pretty horrible at it.
- Post #1,101,173
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- Apr 1, 2017 3:03pm Apr 1, 2017 3:03pm
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 39,006 Posts
{quote} wasn't implying we will see the bounce here. momentum exhaustion is what i meant. of course it can move down a bit, but my designated target was close enough, plus the weekend. also need some time off. i want a break. lol kind of draining this week reading all crap and dick swing contest this entire week. you know what i mean... /r p.s. i don't trade for 15 pips. i'm pretty horrible at it.
- Post #1,101,175
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- Apr 1, 2017 3:35pm Apr 1, 2017 3:35pm
When I offered my guess on H1 with this post, I didn't look at the higher time frame H4. Here's my H4 guess. Please take my Gann fan analysis with a grain of salt because I've only been using the fan for a week.
- Post #1,101,176
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- Apr 1, 2017 3:39pm Apr 1, 2017 3:39pm
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
{quote} p.s. i don't trade for 15 pips. i'm pretty horrible at it.
New voice message: Why are you calling me? If I need you, I'll call you!
- Post #1,101,177
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- Apr 1, 2017 3:52pm Apr 1, 2017 3:52pm
- Joined Dec 2005 | Status: Member | 2,856 Posts
- Post #1,101,178
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- Apr 1, 2017 5:59pm Apr 1, 2017 5:59pm
- | Joined Jan 2017 | Status: Member | 43 Posts
{quote} Tekkon. Still will me? Next 2nd topic of optimizing EA. 3. Boundaries or Constraints or Risks. I.e. Your budget, Balance or Equity. Largest lost (in pips or amount) you can take for a trade. Largest pips or amount of Profit that satisfy your need. Largest Amount of time for a trade. Largest Profit/ Lost in a day, week or month. Number of trades in a day/ week/ month. Time/ Session you want to trade or avoid to trade. Price Volatility in pips or % of ADR/ ATR. etc. IMPORTANT : NO OVERNIGHT OR WEEKEND ROLL OVER 4. The Next steps consume most...
Did Mike Jordan always make so much bank or Snoop Doggy roll so much dank?
- Post #1,101,179
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- Edited Apr 2, 2017 4:14am Apr 1, 2017 6:05pm | Edited Apr 2, 2017 4:14am
- | Joined Jan 2017 | Status: Member | 43 Posts
Is anyone waiting to get filled on their buy orders around 1.0630 - 1.0627? I want to buy at 1.06315 but I know price is currently at the 0.618 fib retracement level and maybe lots of people who where short during the week taking profits over the weekend will mean price shoots up when the market open straight from it's current position. Does anyone have any thoughts or advice?
Did Mike Jordan always make so much bank or Snoop Doggy roll so much dank?
- Post #1,101,180
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- Apr 1, 2017 6:26pm Apr 1, 2017 6:26pm
- | Commercial Member | Joined Apr 2017 | 2 Posts
USDMXN
Hello everyone. I've been keeping tabs on the descent currently exhibited by USD/MXN. As you can see in the Weekly graph below, this pair has been falling since mid-January, and is currently extended from the 10-period Weekly Moving Average by 168% relative to it's Weekly ATR.
Specifically, I'm looking for reversal opportunities to the upside, with the 38.2% Fibonacci Retracement level as Profit Target on the Long reversal. On the Daily Chart, the pair seems very oversold and exhibited a Doji-Like candle on Thursday, followed by another uncertainty Candle on Friday, as you con observe on the graph below.
What are your thoughts on this pair? Please let me know.
Hello everyone. I've been keeping tabs on the descent currently exhibited by USD/MXN. As you can see in the Weekly graph below, this pair has been falling since mid-January, and is currently extended from the 10-period Weekly Moving Average by 168% relative to it's Weekly ATR.
Specifically, I'm looking for reversal opportunities to the upside, with the 38.2% Fibonacci Retracement level as Profit Target on the Long reversal. On the Daily Chart, the pair seems very oversold and exhibited a Doji-Like candle on Thursday, followed by another uncertainty Candle on Friday, as you con observe on the graph below.
What are your thoughts on this pair? Please let me know.