EURUSD

do you sleep? you're posting throughout the day...how is that possible.

even don crazy ass is inactive these times..

Baby pips school of pipsology done

Support and resistance: (thrown out since we found out where the waves are going to end by various other more accurate methods
Trend lines: have their place in the grand scheme Does it tell you to place them correctly (checking,,,no) Doesn't explain that trend lines must reach point to point without crossing another wick or candle. Doesn't explain their place in a channel (elementary school) Draws sideways trend lines cutting across tops and bottoms of and expanding triangle!
Channels: Blatant violation of the channel rules do not draw trend line and have candles shooting out above and below them, again with the sideways channel. good tool which can be used to determine good places to buy or sell They represent a possibility ok not an exact science, It's all very vague and haphazard
How to trade support and resistance: Again these may or may not be relevant they may not. Here they are recommending to buy once it's bounced off of the theoretical area. It's pure chance. Doesn't account for the sequence and we know how to pinpoint the wave ends with various other methods. Don't need S&R there's some good strategy here for trading these mythical areas.
Summary: Trading Support and Resistance some good advice about trading the maybe SR reversal levels don't need.
Grade 2 lessons on Japanese candles can only be of good value.
Grade 3 Fibonacci We're taught about guessing what the right fib level target will be. Balance of probabilities take the cookie here.
Lots of lessons about using the theoretical levels in combination with other theoretical indicators.
Moving averages. If it's moved enough to register in the moving averages, the move has started and you missed it. Jump in and take the left overs.
Various assortment of other theoretical indicators. Bolli bands (usefull) MACD (Usefull) Stochastics, RSI, ADX (great for suthmo 123 system), Ichymoku is nice, These things are nice for jumping in after the fact.
Middle School
Leading Vs Lagging Indicators (They're all lagging) If need and indicator to indicate something it's already begun and you missed it.
Important chart patterns (they don't have the suth pattern up there) Basic guide to trading some of the common patterns ok.
Grade 8 Pivot points, Again theoretical hit or miss guesswork I don't use them.
Summer Schoool Elliott Wave Theory sorry to say this is out of phase idealized concept considered art, that sometimes bears results. Think it's fair to say.
You should definitely learn the entire wave principle to get some grounding in the market cycle definitely read all u can here.
Harmonic Price patterns, very usefull breif guide to trading some of the common patterns found in the market.
High School
Trading Divergence when price and one of the indicators start moving out of step with each other you may get a clue when to exit/enter. The bottom is in you missed it.
know your trading environement, what is trending market, What is range bound market, retracement or reversal? How to identify reversal? Protect yourself from reversal. How to trade break outs, how to measure volatility
Types of breakouts, How to trade using trend lines and channels and triangles, Fakouts, Fade the break.
Fundamental analysis The conclusion is it's ancillary to the wave principle. Currency crosses, synthetics, Great section on exotic pair trading. Multiple time frame analysis. You know I've re defined this in seven layers.
Under graduate
Market sentiment is the cycle, COT REPORT Picking tops and bottoms based on currency legacy report (does this report know the wave principle?)
Trading the News! Sacrilege! They to claim that news is making markets move, I demand proof. Be careful trading news, wich news to trade just wow....
Carry trade, nice to hold trades earning interest overnight if you can get the right entry.
Graduation..

Managed accounts, scams, robots, Broker scams, Regulatory agencies, Foreign regulatory agencies, How to protect self from forex scams. Binary options (double face palm) Personal speeches a Quiz to find what out of all this suits you best.
Congratulation Speech, Focus on process not profits, They are teaching there's no holy grail...! Be patient, stay disciplined, Love the game, Schools over..

Lots of useful after the fact tools to catch the crumbs from the table. Nothing you can pin down as exact science. It's all reactionary, speculative, probabilities there's no hard science in any of it.

Just call me we'll do lunch I'm going to re define this as an exact science. I have an opening on Tuesday..... Lets rescue trading out of the dark ages.

"Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money." Exact quote from ed seykota...I am begginning to understand the Essence in this quote from a living example.

Shorting EU target 1.0730

News day

maybe up ?

Or maybe nowhere .
I'd sugest looking elsewhere today - Pound , Gold , NOK ( after Norges Bank in 3h from now ) , Silver ..........


http://www.norges-bank.no/en/calenda...rate-decision/

Guys, I have open short position from 1.0933 FX. SL = 60 pips a PT 120 pips :-) I belevie it will be target :-)

for Nok the spread is a mood killer. Nok/Sek didn't covered the spread with movement over the past 12 hours.

USD/NOK is OK with Oanda

My Intraday Outlook.
(ahead London)

No big move after FOMC, no big surprises.
Market range bound before Draghi (BTW, might be a non-event this one)
and for the US employment data tomorrow.

- resistance: obviously 1.0920 (Weekly+Monthly Pivot Mids); 1.0950 eventually;
- support: obviously 1.0887 (Weekly_Pivot) and 1.0860;

It feels like selling after little more (positive) retracement on the FOMC bearish momentum...
but no big trade ahead Draghi&NFP for me, just little scalping for fun.

Have a good trading day, you all!

DOW now at 20945 I TP in all positions here . FLAT. This doesn't mean I am calling a top here...

I would expect Draghi to talk the EUR down as it has been appreciating.

Not really. The guy is scheduled up to speak at the Jean Monnet Foundation, in Switzerland... hardly to go through monetary policy on this event
But I'll keep my radar open ...in case of a Q&A session
...because the finacial journalists might snatch a significant word wich might shake a little the market... we'll see about it

Short euro from 1.0890 target 1.0875.

GOLD . . . just TP at 1233.40 . . .FLAT .

this would be a good level to start buying and holding for Monday open after election in France..... nobody really thinks LePen can recup the difference, right?

I think with spanish unemployment and EU data we'll move upwards. Let's see