:)Hi there all Babypippers! Starting today you can get daily trading signals for the Eur/USD. I will focus basically on the intra-day (weekly and monthly forecast as and when it happens). Now here’s the signal for today.
[B][U]Signal for 10 Dec 2010 Friday
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Today’s forecast - Again with no major economic releases slated for the day except USD U. of Michigan Confidence (DEC P), we focus straight away on the technicals which looks really bearish and at least from the outlook of the weekly timeframe. It really is. And since it is a Friday volatility is going to play a role here. Having said that the pair still seems to be driven directionless with the week ending. Next week could hopefully give a clear picture. Nevertheless we have got a trade on our hands!
Trade - Since we are still on the lower trend and the pair looking bearish opportunities for a short are on the cards. We wait for the pair to go up to at least 1.3280 or thereabouts and short for about 90-100 pips. If we see the pair go past 1.3300 then we wait for a confirmation on the 4hr candle-sticks and enter a short from around 1.3320 for 100 pips. Set your stop-loss to around 1.3360 in this trade.
More aggressive traders can go for a long at around 1.3250 (currently there) for a small 40-50 pips which looks a possibility. You can set a stop-loss around 1.3200 which is again a safe place.
The week ahead looks too bearish on the pair and again caution is advised.
Never forget to take a confirmation from the candle-stick for entry or exit.
[B]Welcome all to a new week of trading. For all those just joined in here please be informed that I am basically going to concentrate on the Eur/USD pair intraday (weekly and monthly forecast as and when they happen).
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[B]Today’s forecast[/B] - The pair is unstable for at least now and we expect some volatility for the week. THIS WEEK IS APPARENTLY IN THE GRIP OF THE BEARS going by the technicals that is. Hence our prime focus should be to see if the pair is going to reach levels of 1.3300 in the next couple of days. But I must say there is also a good pull back for the pair when the week ends. We just wait and watch for that.
[B]Trade[/B] - With no major economic data release for the day we stick to pure basics of the technicals that indicates a good bearish signal for the pair. The pair has been traversing the lower channel for a while and an opportunity to short is when the pair climbs up around the London opening; we wait for the pair to get to 1.3280 to enter a short. From there a good 100-120 pips is on the cards. A second trade setup is to short around the 1.3240 mark which still is a better bet for aggressive traders out there. This can give you a 70-80 pips for the day. But remember to set stop-loss at a 40-50 pip farther in both the cases.
The week ahead looks too bearish on the pair and again caution is advised as a reversal around the end of the week is on the cards.
Never forget to take a confirmation from the candle-stick for entry or exit.
Seems the pull back for the pair has happened in a hurry - even a couple of days’ time was not needed here. It happened in a day. Unfortunately yesterday’s trade didn’t quite take off as there was no clear confirmation on the candle-stick (especially the 4hr) to short.
[B]Today’s forecast[/B] - European Financial Concerns Threaten Euro Zone Stability; Global Credit Markets; EURUSD and S&P 500 Threaten Bullish Trends but Reversal Risk Very High.
Well for the forecast I still remain bearish on the pair. We have some high impact economic data coming out - the UK (GBP CPI), the German ZEW economic sentiment, the US (Advance retail sales; Core retail sales; FOMC decision) please tread cautiously.
[B]Trade[/B] - The trade set up for the day is simple - enter a short around the 1.3450 mark with a confirmation on the 4hr candle-stick for around 100-120 pips. We do not see a second shorting opportunity for the day (what with the pair being so unstable). Set your stop-loss to 40-50 pips further as usual.
But we do have another set up to go for a long today though the pair is behaving bearish. Wait for the pair go to get to about 1.3350 and then enter a long from there for about 60-80 pips which is an aggressive set up. Set your stop-loss at 1.3300 in this case.
Yesterday’s pullback is a great example of what could happen in a typical December month’s trading - the game of volatility.
Never forget to take a confirmation from the candle-stick for entry or exit.
Signal for yesterday did quite take off as predicted and I just roped in 100 pips. The 4hr candle-stick did give me a clear entry signal with a shooting star and that was all that was required.
[B]Today’s forecast[/B] - Positive US data (Advance Retail Sales and FOMC Rate Decision) have kept the USD afloat, a strong indication of things to come for the week as far as the Eur/USD is concerned. In fact we have the US CPI (YoY-Nov) data for today (more info here) which could again bring in more volatility. Nevertheless we have the pair in the grip of the bears as predicted for the week and a good trade set up for the day!
[B]Trade[/B] - Following the lower channel still, we have a trade set up to go short; we wait for the pair to again climb to around 1.3410-1.3430 and enter a short for a 90-110 pips. Set the stop-loss to around 40 pips here.
Another trade set up for all you aggressive traders is to go long if we see a quick pull-back to the 1.3300 level. From there we enter a long for at least 60-70 pips with a confirmation taken from the 4hr candle-stick (always that is). You can set a stop-loss at a 50 pips in this case.
[B]The USD index is getting stronger and this could play a crucial role on the pair for weeks to come.[/B]
Never forget to take a confirmation from the candle-stick for entry or exit.
First up sorry I got late today. Yesterday’s signal gave me a cool 120 pips - could have gone for even more, but that’s how we always need to go about - avoiding greed because it spoils the show completely. The 4hr candle-stick again gave me a clear signal to enter a short even though the pair could not reach the 1.3400 mark. Going by the bearishness of the pair I entered a short at 1.3385 and exited at 1.32650 for 120 pips!
[B]Today’s forecast[/B] - With no major economic data release slated for the day we just follow the basics and stick to the technicals. It is going to be a quiet trading day hopefully without any bear/bull fight today. With the Euro zone news creating a not-so-good impact on the Euro and with the stronger USD index the pair is surely in grip of the bears.
[B]Trade[/B] - Given the bearishness of the pair the trade set up for the day is to wait for the pair to climb to the 1.3250-1.3280 mark from where we short for a good 100-120 pips. Set your stop-loss to 40 pips here.
The second trade set up for the day is to enter a long if the pair drops quickly to 1.3160 (major support). We exit at around 1.3230-1.3240 for a 70-80 pips. Set you stop-loss to a 50 pips here.
[B]The USD index is getting stronger and this could play a crucial role on the pair for weeks to come.
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Never forget to take a confirmation from the candle-stick for entry or exit.
[B]Those of you new here please be informed that the daily signals are for the Eur/USD pair only. Yesterday was a tricky day but I did rope in a 130 pips combined (a short that gave me 70 pips and a long that gave me 60 pips).
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[B]Today’s forecast[/B] - Again with no major economic data release slated for the day we just follow the basics and stick to the technicals. The USD has been falling across the board yesterday which triggered selling of the greenback, well that seems to be very short-lived as we should understand the pair is still searching for a clear direction.
[B]Trade[/B] - The trade set up is not an easy one for the day. Nevertheless we have a trade - we go short on the pair if we see a climb to 1.3330 (a key resistance) or 1.3350 for 70-80 pips only. Be sure to set the stop-loss to a good 50 pips here.
An opportunity to long on the pair is not so viable for the day.
[B]It’s end of the week and volatility comes to play - watch out! [/B]
Never forget to take confirmations on the candle-stick before entry or exit!
I hope you are going to continue with this valuable thread in future as well. I will direct my friends as well to this thread after gaining a little confidence. Thanks for your reply.
Hey luckyviva,
I’d like to trade your tips but still quite new to everything.
What time frame are you using? I’ll try and look up the charts. I’d appreciate any help.
Thanx
[B]Trade[/B] - And as far as today’s trade set up is concerned the bears are surely overwhelming. And a good set up for the day to short is when we see the pair move up to 1.3210 (initial key resistance) or 1.3250 (another key resistance level). From there we enter a short for a good 100-110 pips. Take a good confirmation from the 4hr candlestick before you enter. And set your stop-loss to around 50 pips here.
We do not have second trade opportunity for the day.
that’s not true… there’s two ways about it… buy up to 1.3215 than short it… so it’s a two way opportunity i think we are testing the 1.380 followed by 1.383… if that clears… we are through to 1.3215… good luck guys.
If you had been following my signals for the past few days it quite suggests trading opportunities either way i.e., long or short. And I stick to only a clear trend where in it gets easier for you, me and all here who trade FX to make a profit. As I reply to you at this very moment you can very clearly see the bears are so much in grip and a chance to go long never was there - maybe you had presumed my prediction of a short otherwise.
My predictions are purely based on the trend and technicals. As you can clearly see the trend is low and only a short entry was viable. In fact I’ve myself entered a short before the mark hitting the target of the predicted 1.3210 zone as I got a good confirmation on the 4hr candlestick to enter a suitable short, and you know I’ve pocketed 80 pips (in place of 100 or so) and exited the trade. I could have waited even more time for another 30 odd pips but the prediction was to exit the trade around the 1.3100 mark and I stick to it.
Not entering a losing trade is in itself a trade won! Too much greed and that could ruin your margin. Take care and trade safe!
This is another reminder to you folks that my prediction on this forum is going to be very brief because of serious time factor:(. Since my site is up and running a detailed overview of the signals are posted everyday for you well before the opening of the London market open. And thank you all for following the site and the signals.
Well yesterday I roped in 85 pips with a short entry well before the target could hit the 1.3210 mark since there was a clear signal from the 4hr candlestick. And all those followed suit, congratulations!
Here’s the signal for the day;
[B]Eur/USD - Sell @ around 1.3210 or 1.3240 for 100 pips.[/B]
I have been recently introduced to forex and just trying to understand on the live account without a practice a/c, lost some and slowly gaining with the tips.
118 Pips was my profit for yesterday. And all you guys new here should know why my signals are being posted late. My site is up and running and as you must be knowing I publish my daily signals in detail on it. I hardly find enough time to be with you guys here.
And thanks all of you that have been following me and my site, and for that rave reviews as well . I am honored and I am here to share what I know. And it’s for you!
Enough of tiring you, here’s my brief prediction for the day;
[B]Eur/USD sell @ around 1.3160 or 1.3200 for a 90-100 pips.
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@luckyviva, I did peg pips today with your predictions, so I am in a gaining way up at the moment trying to recover based on YOUR predictions. You should have comments/feedback section on your website too
Could someone please tell me step by step how I’d trade this tip?
I looked at the 5M charts earlier and didn’t have a clue what 4Hr candles were- I know what candles are but where does one find the 4Hr ones?
Please help.
i think we are testing the 1.380 followed by 1.383… if that clears… we are through to 1.3215… good luck guys.
