EURUSD initially rose but found enough selling pressure at 50% of Fibonacci retracement to reverse and close near the low of the day in a typical digestion day. The pair should consolidate from 1.08 to 1.05 levels until Tuesday of next week.
After recalculation please find that long bear candle on EU. that is now the trigger candle which will set off the chain of events today for EU. At this moment EU is now a scalp sell. Should the high of that long red candle (The last candle shown on the chart posted above) then the EU buy will be the best order to have. Until then, please note that I am selling EU looking for an attack to yesterdays low session.
Sir, hell I havenât been called that for years, I work for a living lol. But back to the subject, I suppose then it is a marketplace and as long as you can find a seller I suppose you can buy as much as you like and vice a verse. But then again if you had that much money you would be trading DMA (and its a different ball game there) but more importantly you wouldnât be trading at all. You be letting your bank and accountant do all the hard work for you as you stroll down the 17th at St Andrews.
Now this thread is interesting, better than the weather reports we were getting b4! Thanks to all for joining in.
Have you ever tried tick charts my friend. They eliminate noise down at these lower time frames
I agree. Greece is back today, but the Euro seems ignore the developments remain in consolidation and trading above 1.0700 levels.
Yep, bullish outlook maintains, I set my target at 1.100.
[QUOTE=âpeeterwoolf;690326â] Yep, bullish outlook maintains, I set my target at 1.100.[/QUOTE]
Woo 1.1 thatâs a lot of money
As a matter of fact I use tick, m, and 5m confirmation. Once all three tf have the same exact formation and engulf then I enter the position. You can see that I gave a sl for that sell, and once the engulf of that candle occurred the price then made itâs way all the way up to the pivot above. I also use martingale to offset what would be the loss of the first two orders.
As I suspected, the EUR/USD consolidation is not over yet. The pair started climbing again and is headed for the resistance at 1.0920. Depending on whether it breaks above that resistance I too think it might reach 1.1000 or climb even higher.
The EUR/USD rose to 1.0882 today sound we gonna see 1.1000 again.
still the price has to break the resistance level at 1.0850 for confirmation that the bullish correction is still valid.
Must of us try to predict what will happen, while going against the overall price action. How many times out of 10 can you get 5 pips before you lose 5 pips after 5 mins of holding a position? lower tf trumps higher tf as if an engulf on the lower tf would appear prior to an engulf on the higher tf. Once an engulf appears you are to assume the last trend has now been confirmed as over and you follow the new engulf until an engulf has occurred against lower tf trend. Would you agree ?
The broad trend is downward in the long run and the EUR / USD is showing minimum and lower maximum below both moving averages 50 and 200 days.
The RSI, while above 50, pointing down and appears ready to move below its equilibrium barrier, and increased as the MACD may fall below its signal line at any time.
I wish you all a great weekend
Letâs see how the market is going to open with the strong resistance ahead.
EURUSD rose on Fridayâs session and close near the high of the day in a typically digestion day, creating the 2nd inside day. The pair is consolidating waiting for the big move one way or another. Itâs coming.
The EURUSD may go back to its longer term downtrend after last weekâs correction if Greek really exits the Eurozone.
Eur/usd is heading back to 1.100 level as we speak, show the market believe Draghi is likely to be more upbeat on the economy in his speech today.
EUR / USD is trading above the falling trend line from short-term maximum of 26 February and above the rising trend line from the minimum of 13 March.
If EURUSD does not pierce the support of $ 1.04610 (annual minimum), the short term trend is positive and we can, prudently continue to bet on a recovery greater than what we saw on Wednesday last week after the words of Janet Yellen at the meeting of the Fed.