The eur/Usd and other euro pairs are starting to put in a tradeable bottom in my opinion.
Yes it seems so. There was also a bullish engulfing candlestick pattern at the same point as the MACD.
I agree I went over that in last night webinar, also go over other euro pairs you will see they are trying to put in a bottom, I really like the Eur/Jpy
I think it hit bottom 251 pips ago, New month, new direction
Lol, now now, I’m sure he called this “tradeable” bottom in his paid service. He’s just giving the rest of us newbs a bone to chew on.
I dont know if you looked further than that nice pattern but i’m not so sure it’s bottomed out yet
Draghi Echoing Merkel Has Trader Raise Bets Against Euro - Bloomberg
I don’t wanna be the spoilsport (but this is not like watching the olympics, this is throwing around real cash), don’t wanna bust anyone’s nuts or get into a row with people who have been doing this for years
skashh,
i feel very strongly analyzing charts works best for currencies that are not under a vast amount of sentimental pressure, right now the euro is probably the most unpredictable member of any pair. For all i know (and i don’t know a lot yet), if you wanna get your feet wet practicing sticks and fibs AUDUSD might be a safer ‘bet’, it has clearly visible trends on bigger timeframes and way less spikes when draghi starts to talk (i dont know what’s up with the man but he sure can move the crowd)
Say you put a trade on last week before the ECN, you’re a nice guy, you follow the rules, you put in your stop loss , you went short … well, you might have hit the stop before the speech as expectations drove it up, you went long ? well, we see where that would have gone.
Like i said, not to ruffle anyone’s feathers, but i do feel chart analysis works better on the more steady pairs
two cents (its all i have to spary atm anyway )