EURUSD: How To Trade The EUR

FX_IDC:EURUSD   Euro / U.S. Dollar
1172 7 16
Ok, so everybody is wondering, "What about the euro?" Yes, I am dare I say EXTREMELY BULLISH on this pair and believe that it is starting a multi-week, multi-month uptrend in a wave (C). Just WHEN will it start or has it already started is the question. And how about now? How to get in on the uptrend now with the lowest risk possible/

In previous posts and wave counts (I won't suggest any here. Just go look up my previous posts), I suggested that the recent decline was a wave (iv) of (v) and the next move is a wave (v) up to finish off the wave 1 of a possible 5 wave wave (C) advance. Given that, what you are seeing here is my internal wave count for this wave (iv) decline and it is now showing me that the wave (iv) could be over and wave (v) could be starting. That means that we could've seen the bottom.

Of course, I could be wrong as well and price will keep dropping making my wave count completely wrong! Well, so how to play this? I haven't posted any trade idea on this pair because right now, there isn't any bullish price action for me to hang my hat on. But here's what I need to see in order to trade this pair:

Prices need to break out and above the channel it is trading in the wave (iv). Then it should hit the upper trend line of the former triangle pattern that it broke out of before. Prices should then retrace back down to retest the channel's upper trend line . At that point, I would buy because that would be bullish price action.

For now, I am just sitting on my hands and tying some rope around my trigger finger to keep it from hitting the BUY button too soon!

Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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just now i already open the position buy at 1.12140... hopefully this will usefully for me
+1 Reply
EverythingForex fairieyizwan
I don't know why you would do that? There is not any bullish price action to say to BUY. But GL to you!
+1 Reply
CaimaMan EverythingForex
refill ur chart xd
I pretty little not sure about your technical above, but I love your analysis and keep stay to watch. Forex is a full probability.

best regards
EverythingForex suprijadisoemoredjo
Thanks. Being "not sure" is a signal to stay out. I'm out right now as well as I stated above. Because right now..I'm not sure either! I need to see more evidence. Like they say, "when in doubt, stay out!"
+3 Reply
The euro's in no state to take on the dollar, the dollar is the only game left in town
Thanks for your opinion. Anything to back that up? I'd love to see your chart as to why you think the euro is gonna take a nosedive? Who knows? I very well could be wrong.
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