1.1100 is also SMA50
I see some traders are talking about BUY in dip.
I think this is a short term correction, a break before it backs to the downtrend.
I still keep bias for EURUSD .
THE CORRUPTION OF VOLKWAGEN SENDS MORE NEGATIVE SIGNAL TO EUROZONE.
This will affect greatly on manufacturing sector of Germany and entire EZ.
While Markit PMI yesterday were more negative than expect.
EURUSD should trade lower to 1.1000 AND 1.0800: That is fair price of EURUSD for the being time.
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Think the right way..
I been waiting on the same setup for the EURUSD but with my 9-26-52 setting. But now considering testing the 7-22-22 setting as a change.
Thank you for your ideas you provide
I set Ichimoku pattern ( 7,22,44,22).
The secret behind it simply:
- When Japanese invented Ichimoku pattern. A trading week begun from Monday to Sunday without any break.
Now the fact changes, a trading with just has 5 days from Monday to Friday.
So I have to fix the pattern.
I'm a swing trader, not intraday trader.
You don't need to follow a standard which others set up, you must develop your own skills and check; if you see it's appropriate, then use it.
Some traders complain me why I don't follow the standard. I say no, I trade FX, to make money for myself, not for themselves, so I don't need to follow anyone who force me to follow a rigid standard.