anilmangal
Short

EURUSD sell setup

FX:EURUSD   Euro Fx/U.S. Dollar
4218 35 183
The EURUSD             is in a corrective structure.
Wait for the breakout and a lower degree consolidation to confirm the sell.

Trade with care.
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Totally agree
+1 Reply
Why not 1.145 first.
+2 Reply
Cause many people waiting 1.1450
+1 Reply
I am waiting. Please take attention anil says if break this line then sell.
+1 Reply
anilmangal PRO PooyaSalehipour
Thanks for the help but i guess everyone has his own strategy on how to trade breakout .
+3 Reply
IvanLabrie PRO ForexSpecs
It might surprise the elliotticians.
+2 Reply
anilmangal PRO IvanLabrie
LOL @ Ivan
+2 Reply
IvanLabrie PRO anilmangal
;) Corrective structures do this...I believe we're in a large expanding triangle. Headed up.
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ForexSpecs PRO IvanLabrie
Of course can, i using Ellliot waves too, but over 6 factors technically and 4 fundamental showing me downtrend to 1.1050 in next 2 weeks
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IvanLabrie PRO ForexSpecs
What are the bullish dollar fundamentals here?
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anilmangal PRO IvanLabrie
I am never worried as to "why" since no one knows why! I remember we bought silver on the bounce of the trend line before NFP then after NFP it went up quite a lot, I saw one trader explaining the up move fundamentally and boy I was ROFL.
+9 Reply
IvanLabrie PRO anilmangal
I wouldn't laugh out loud at fundamental analysis.
I look at intermarket analysis and try to understand the multiple correlations and the flow of everything. Helps me discard potential technical scenarios as well.
It's in the charts, yes, more clear than fundamentals by themselves, but also important in larger developments.
My 2 cents.
+1 Reply
ForexSpecs PRO IvanLabrie

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ForexSpecs PRO IvanLabrie
Trading philosophy: Fundamental analysis draws, technical analysis defines it. Think about it
+1 Reply
anilmangal PRO IvanLabrie
YOU miss my point, i am not laughing at fundamentals analysis ,it just that traders explanation which made me laugh. First NO TRADER HERE has the resource it needs to do good fundamental analysis ! second it's used for longer term trading.
+7 Reply
anilmangal PRO anilmangal
It's just that's**
+2 Reply
anilmangal PRO anilmangal
ok ignore the typo.
+2 Reply
IvanLabrie PRO anilmangal
No trader here does?
Maybe, not sure, I can't pronounce such kind of statement, but, I do agree that it's more suited for longer term trading.
I find weekly/monthly setups are the ones most affected, but when technicals confirm it, huge moves can be tradeable if you had the fundamental outlook needed to wait for them and be ready.
+2 Reply
I don't trade using FA and would have to classify myself as a TA trader. I don't dismiss FA outright as I do like to follow economics developments around the world as I do have a bg in economics myself. But I don't agree with FA trader's that FA is much use in terms of the here and now trading that I would say the overwhelming majority of trader's do. Take the NFP for example. It is the single most widely used FA indicator that most people take heed of. Yet, I would challenge anyone to look at a monthly or even weekly chart and pick out those NFP bars without looking at the dates. You can't. It goes to show that even the NFP does not move the market. Not even in the long term. Not saying that's ALWAYS the case but mostly, it does not.

Most if not all FA proponents can only explain price movements after they have already happened. To me, it's all just justification. Can't use FA to pinpoint or even narrow down a level where you can take a trade. Only TA can do that. IMHO.
+6 Reply
IvanLabrie PRO EverythingForex
I can look at a chart and look at earnings, or NFP dates, and analyze the price action around the market moving events.
They bring volatility, and make large players look at charts, so they are most definitely relevant.
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IvanLabrie PRO IvanLabrie
Whatever the data says, in the short term, might not be relevant, or it might, it depends on the larger developments. Jobs, after the Fed has been clear about no rates possible until 2016, would be a secondary event (look at the dysmal reaction to slightly better jobs numbers last week, after the FOMC minutes came out)
Keeping a bigger picture view is a must for me, and my style of trading.
+1 Reply
I'm not disagreeing with you at all, Ivan about needing to keep an eye on the bigger picture. I TOTALLY agree with that! But in terms of the chart and chart data and not so much FA. Yes, I follow and read the news always and will see if the news correlates to what the chart is telling me is going to happen. Like you say, the expected rate increase coming (but when? No one knows for sure!) MAY shake things up. I'll look at my LONG TERM projections and see if it lines up with what is expected fundamentally. Most of the time, it does. But there are too many world events that is unexpected to be able to use FA soundly to make trades. That's all I am pointing out. Not that FA is irrelevant. I respect all analyst whether they use FA or TA. I don't outright dismiss FA theories. But just too much unknowns involved to use in the here and now.
+8 Reply
tupaitrader EverythingForex
great advise...thanks!!
+1 Reply
Please looking Dollar Index
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maybe if it doesn't break
+6 Reply
anilmangal PRO anilmangal
ok this was the answer to the 1.45
+4 Reply
I totally agree with this setup! If it doesn't break, an upmove to 1.145 is indeed possible... But I am definitely selling if this breaks...
+1 Reply
thanks
i agree
+1 Reply
simple as that.
thank you sir.
+1 Reply
My view is that this pair is about to enter a W-3 and as a consequence will fall.
However, on the larger Time Frame; the monthly; it is bullish until it hits 1.21717.
Once this level is fulfilled the pair will be bearish for some time.
+1 Reply
Sorry, what I meant to say was:- W- iii
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Down movement correction angle same angle slope.
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MakisMooz MakisMooz
snapshot
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Nice Anil! I am also selling. Isn't it a wedge at 4h?
snapshot
The green level around 1,14 is the September high.
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