Daily Template 2. EUR USDHello!
These are simple swirl levels, with simple yet powerful trading opportunities. I will update during the day, where will be opened positions and TP's, if EUR USD interacts with these levels.
Yesterday we made nice short and TP was hit.
Trading rules are simple, if eurusd breaks one of these levels up and down or down and up by 5 pips ( without touching the next level ), we wait for it to travel away and look for entry. TP is the level that was broken down/up.
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Eurusd1hr
EUR/USD SHORT! Perfect Entry of the week #2!Hoped you liked the USDCAD! Here's another tight SL (3 pips this time!)
Started this one in the trading room chat live last Thursday, and had a perfect spot for a re-entry later on that day... Monitoring this closely with trailing SL's now as heavily in profit .. although it appears Gandalf did his job :)
To be clear this trade is very short term.
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EURUSD - ENTER LONG AGAIN?Another day - still in the same range
I think it should be pretty clear if you look at this EURUSD chart, support level tested 3 times on 1H TF.
I'm expecting a break-out will see if its going to test the support one more time. i'll put in a pending buy order around the support line. There is U.S. news for tomorrow but i'm hoping to get in at the London open.
Beware that if it breaks thru the support level, that it still can retrace - i don't see any sign to go short but be prepared for every scenario! This time i wont give away my S/L and T/P
GL & HF
Forex Tips & Market Analysis - EUR/AUD SELL! SELL! SELL!EUR/AUD ( 4HOURLY )
SUMMARY:
The secondary trend of EUR/AUD is bearish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.4926 and support at the level of 1.4842. If it breaks its suppport level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
INDICATORS:-
MACD is sustaining in itsnegative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair.
STRATEGY:
EUR/AUD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.
100% on Tradingview so far... Hope you enjoy this, as usual let me know how you get on!
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100 - 200 Pip Opportunity - EUR/USD Long - 05/02/2016100 - 200 Pip Opportunity - EUR/USD Long - 05/02/2016
The primary trend of EUR/USD is bullish on charts and price is trading above the trend line in its daily chart. In 4 hourly chart the price is sustaining above 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.12750 and support at the level of 1.12232. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.
EUR/USD
RECOMMENDATION BUY TARGET 1.12750
The Major trend of Euro it is showing strength for buying If it crosses the resistance level then one can initiate buying position in the pair . If it crosses the level of 1.12689 then it can test level for the target of 1.13000 with second target at 1.1430 with the stop loss 1.1175.
CHART FORMATION:-
Euro is trading in a range and trading near the trend line. Breaking the support line will lead to upside movement. Eur is trading above the 50 DMA with a negative bias.
INDICATORS:-
RSI is trading near to 65 levels with a positive bias, in upcoming session upside movement is expected.
MACD and Signal line is sustained above the zero level line.
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EUR/USD hits fresh daily highs after fomc minutes.Today the pair dropped to 1.0713, area located around yesterday's lows, forming a potential double bottom in the short term. Currently, with the pair above Asian session highs, the possible target of the distance between 1.0710/20 and 1.0770 is 60/70 pips.
EUR/USD needs to hold above 1.0760/70 in order to keep the bullish bias intact; if it falls below, it would invalidate the formation.
Stumbling the EURUSD legs by the hourOh yeah - I was dead wrong on the short term price action.
Bash me! :-) Well, one cannot be right too often :) . The upward price pressure was certainly more fierce than I anticipated. That did hurt my account too. "Yes, I feel you pain."
As a result, the diagional triangle is gone. The 1.140/1.144 level presents a horizontal barrier.
Nontheless, not much has changed on the EUR USD :
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- the overbought and/or almost overbought levels the RSI have not given any clue to a continued bull trend. It simply gyrates between overbought and oversold. This is typical for a period of RANGING price action.
- I'm still suspicious about this EURUSD thing
- Yes, it can break to the upside, but looking at larger swings (4 hour & daily) it "feels" a better ebb & flow if at least one down wave develops now (but this is not particularly scientific in nature :-)
- We've got pretty solid support levels present: currently testing an upward sloping trendline-in-the-making, then the 1.1180 level (red support area), then the 1.1070 level (green support area) .
- It's bad that despite all the "good" Greece news, the 1.14 level ONCE AGAIN turned out to be too hard to break That is a longer term negative for the EURUSD.
I'm still sitting on my short position, but will close it at the aforementioned levels - to see what happens from there - unless we get a great heavy spike down; of course I wouldn't mind that :)
EURUSD 3 PATTERNS SET UP IN PLAYTHIS IS AN INTERESTING SET UP, WE HAVE A TRIPLE HEAD, HEAD AND SHOLUDER PATTERN, A GARTLEY PATTERN, AND MOST INTERESTINGLY, MY SO-CALLED STAIRCASE PATTERN. FIND A SIMILAR ONE IN RELATED IDEAS. IT HAS A 61.8 RETRACE THEN A 23.6 PULLBACK, A FURTHER MOVE DOWN TO OPENING PRICE (100% FIB) AND THE A 38.2 RETRACE OR A RETRACE TO PREVIOUS LOW IN THIS CASE.
THE PAIR LOOK STRONGLY BEARISH BUT A MOVE LIKE THIS IS NOT IMPOSSIBLE SO LETS SEE HOW IT PLAYS OUT.
EURUSD LOOKING FOR 100 PIPS LONGI'VE COMBINED A NUMBER OF STRATEGIES TO GENERATE THIS IDEA BUT ALL ARE PRETTY SIMPLE. THERE IS A PATTERN FORMATION TAKING PLACE. I'VE PLACED THE D POINT AT A STRONG LOOKING SUPPORT THAT I'VE ELLIPSE TO THE LEFT, (YOU WILL HAVE TO SCROLL LEFT). FIB RATIO CONFLUENCE IS WHAT IS USED TO GENERATE THE PRICE MOVEMENT, ALL THE PULLBACKS ARE SOLELY ON THE 50% BECAUSE OF THE PREVIOUS SEQUENCE OF 50%'S.
ALSO THERE IS AN AREA AT THE TOP OF STRONG RESISTANCE, WHICH I'M EXPECTING TO HOLD IT'S GROUND JUST ONE MORE TIME. I'M EXPECTING A 38.2 PULLBACK WHEN TARGET IS ACHIEVED, AND THEN A STRONG MOVE UPWARDS TO BREAK THE STRONG RESISTANCE.
THE PRICE MOVEMENTS IV'E LABELED IN RED AND GREEN IS ONLY A GUIDE SO I CAN BETTER FOLLOW THE PRICE ACTION. SOMETIMES THE PRICE ACTION GOES EXACTLY THAT WAY, BUT OTHER TIMES IT GET THROWN OFF.
LETS SEE HOW IT PLAYS OUT, AND AS ALWAYS, I'D LOVE TO HEAR WHAT YOU THINK.
EURUSD IN PLAY FOR POTENTIAL SHORTINGTreating this as a No.4 wave Elliott, where the No. 4 wave is often saturated with flats and triangle, i'm awaiting confirmation of the next two candles to verify a move down to second channel line. If the market presents a catalyst in favor of my direction. i wouldn't be too presumptuous to set a limit order at 1.31515, rather i'd prefer to bring my stops past break even to a retracement level (cannot be selected now) , watch a lower time frame for reversal candles at target in the event of higher volatility, hold out for further gains downwards. we also have slight divergence showing on stochastic (but not confirmed). presents a good win/loss ratio, using the first stop loss = more gains than second since stop loss should determine the amount won.
EURUSDWell this is embarrassing really, in my post on the 4hr time, the abcd pattern showed me the PRZ, and i was observing the price action in that zone, a few days ago it was showing a sign of trend reversal but as you can see the market went lower showing that the market can do whatever it wants and we cant be correct all the time. So it is imperative to observe the PRZ before entering the market.
Further if you would look at the 1D posted here..the price is still trading along the x line, according to my rules this is a failed pattern, but a failed pattern in the Daily could also tell us that the general encompassing trend of this pair is weakening and it is starting to reverse. The pink line is my projection of the possible location if this pair should it change direction.
However, we are still trading in the prz of the Daily, and some might still be in the trade cause they put their stop well below the x line, well to me all is not lost, if you would observe the RSI it is starting to climb so in this regard i am still long on this pair.
So trade carefully learn your trade, own your trade and win most of it.
we got a nice doji,
This is my latest update of this pair, today at 7/25/14. 10:54 a.m.
After looking at my reference the failed 1.13 rally up last June 8, 2014 should denote what Scott Carney calls an "extreme bullish impulse wave" leading to a bigger rally upward. So making me more confident that this will still move higher.
EURUSDYesterdays Pattern was invalidated when the market moved lower to its current position not giving us a reason to enter the market in the PRZ, however it just proves how important it is to consider the pattern formation on the larger time frame when trading the lower ones, now we have a congruence of pattern to complement the completion of the Daily pattern making this pattern more valid and the PRZ blue box is just below the 886 level of the Daily. Again the most important part of this is observation of the PRZ, if the price gaps, or drops strongly within the PRZ this invalidates the trade.
Trade carefully and be a winner
EURUSDThis is a potential short opportunity in the EURUSD even though the general trend in the daily is long. Those trading in 1 hour should look in this trade for a few pips gain but careful not to be too greedy due to the Larger uptrend on the daily.. Those who wants to trade this should carefully observe the PRZ as described by scott carney. The price action in the PRZ would dictate the action weather this is a valid short or not.
Trade carefully and be a winner