Mario has spoken and the craziness ensued. We closed Friday's session on our break area and flirting with another break. We will be getting short if we get a trigger after the break. Remember...No Trigger, No Trade!
Reasons for - We are clearly up trending - We are putting in higher highs and lower highs - We are getting nice swing highs and structure - Previous 4 hour candle was a bullish hammer (Bullish candle) - We have nice long wicks to the downside which signals more buying power - We are above key level of 0.75000 Daily - We put in a huge Bullish engulfing last...
The Euro blew through our watch area without triggering but rebounded late during the Friday session. We wanted to be long by now but we are not. There is a lot monetary news events out of Europe this week so we will be cautious of our positions. For now, we want to look for a trigger long (which may happen over night so get the coffee brewing) down to our...
Today's move was the reason we didn't trust the short side after after the euro moved back into the range. LESSON - When fake breakouts/breakdowns occur we usually see a day that has a monster move. The crowd that participated in the break are now stuck. They are forced to jump out of their trade which accelerates the move. Today was that move. We will watch...
The EURUSD is another on our watch list. We will not jump the gun on this. We will wait for the break areas and look for a lower time frame trigger to get involved. The flag patterm suggests this currency is wanting to put more hurt on the Hedge Funds who positioned themselves short for the puke. Now the massive squeeze could be on. Keep on your watch list.
KEEPING THINGS SIMPLE ON THE EURUSD - BOREDOM BEFORE THE STORM ? (1 day, log scale) As said previously, the short-lived upward thrust for EUR into $1.17 has not been able to materialize. EURUSD is on the daily chart stil gyrating. Granted, 1.04/1.05 has again provided support, and so did the 1.105 provode resistance / did the 1.08 level provide support again....
Well.. doesnt need much explenation still we are all trying to work out the implications of FED/ECB relationship and their monetary policy but one thing seems like the USD is not giving up! making terrain across the majors today after the announcement could still TOO EARLY to call it and I am SOO! looking forward to hear from the CTF report next to see how...
Let's look at the really big picture again on the EUR/USD- the MONTHLY chart (log scale). Note: this is of course NOT suitable for trading. Beware. Usage: - protecting your savings (by going into USD) - determining the overall trend (which pressure prevails, when going down to lower time frames?) - as well as determining important support & resistance levels...
SL @1.1210 EP @1.1120 TP1@1.0800 TP2@1.0500 TP3@1.0000 Target1: RRR: 3.56 Risk: (90 Pips) Reward: (320 Pips) Target2: RRR: 6.89 Risk: (90 Pips) Reward: (620 Pips) Target3: RRR: 12.44 Risk: (90Pips) Reward: (1120 Pips)
It's a race to the bottom on the EURO. Draghi is pretty for his spin talk...we are on the side lines until Uncle Draghi is done speaking. He likes surprises and since we don't we will wait. If you are in a Euro trade lock in gains and place stops.
Breakout accrued followed by test to the neckline.
WEEKLY CHART - Keep your eye on the Euro. We are getting closer to a break. If the break has legs then it could run for a few weeks.
This is a great lesson for those who want to get on a good trade. Look at the monthly chart. Not since 2001-2002 have we seen a nice wedge pattern like the current. But more importantly look how far price moved when it broke. We expect the same with this current pattern. You don't have to catch the break...rather drop down to a smaller time frame (Daily or 4...
Daily chart per our Weekly chart post. See "Fake Confirmed" for analysis. Look for a trigger
We look at the Weekly chart of the Euro and last weeks trading suggests more downside. Understand that the selling that happened last week and the fact that we are back inside the wedge suggest more selling is coming. We will look for bounces to resistance and look for TRIGGERS. If they take another stab at a breakout watch the high of last week. If we reach...
Srsly, I am done withe the troll. He got me rekt several times during the past month (in case you wanna help me out, consider a little tip ;). But this is the absolute top... If not, I gonna build a EU temple to worship the him from now on.
It could be said that it is slightly strange that the Euro isn't weaker. As of writing, EURUSD is trading at 1.1040 after seeing lows of 1.0458 back in February 2015. From March last year until February this year, EURUSD was in a very steep downtrend with a range of ~3500 pips. Since then, the pair has remained relatively stagnant, after seeing a bounce off of the...
break re-test of bullish trend line (red) another confluence we have is failure to break above sloping bearish trend line (blue) on 3 multiple occasions; target 1 - 1.37672, target 2 - 1.28656