FullTimeTrader
Long

EURUSD-We knew it! Complex WxYxZ correction developing

FX:EURUSD   Euro Fx/U.S. Dollar
4111 19 58
Hello, according to my previous idea i expect this pair to reach parity but price will not fall directly to that price.
We expected a very complex wave 4 and this is right what price is doing now.
First, looking at W1 chart price is still unfolding wave 4 circled. Using the Fib Time Zones Tools we have the projected date for parity to be reached by June 2016 (a long way until then!)
snapshot

Lets go back to present, looking at D1 chart price is unfolding a complex WXYXZ correction, right now after a strong decline i expect a strong rally, possibly reaching last highs.
Prefered area for a longs is near 1.1000 because:

- 0.7860 fib retracement
- potential AB=CD pattern (pink line)
- strong area of S/R

Depending on your trading style, you can have buy limit orders there or wait to see how price reacts to that area.

We have a setup on H4 chart below:

Regards

*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).



FullTimeTrader
a year ago
Potential setup on H4 chart:
snapshot
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IvanLabrie TOP FullTimeTrader
a year ago
Great, was thinking of buying here, target is quite good, talking r/r.
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FullTimeTrader IvanLabrie
a year ago
Yes! i saw your chart but it was monthly, this aligns with the expected USD decline next 1-2 weeks according to other members ideas.
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IvanLabrie TOP FullTimeTrader
a year ago
It is monthly, but the entry is next week. Good luck to us all!
Reply
tupaitrader FullTimeTrader
a year ago
i agree with u mann....the price finding the completion of wave C...in my opinion...after that..we try to look to buy opportunity...
Reply
tupaitrader tupaitrader
a year ago
was thinking to go short in small time frame before the price is climb up...huhu....the price is heading to the ground...before it going up...thanks mann...for the ideas...
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AndyM PRO
a year ago
WXYZZZ! Exactly! I was thinking what this could be.. and here is the the answer! Every X is a violent failed attempt to make an impulse..
Thanks for sharing!
Reply
RCP
a year ago
Great setup FullTimeTrader! I look forward what the market does.
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AndyM PRO
a year ago
There we have the proof of the bullish case!
http://portal.ransquawk.com/headlines/speculators-have-reduced-their-usd-longs-to-the-lowest-level-seen-in-over-a-year-according-to-the-cftc-04-09-2015
Reply
AndyM PRO AndyM
a year ago
this is going to blow up. So as Gold and Silver, and Crude. The picture is now complete.
+1 Reply
IvanLabrie TOP AndyM
a year ago
Nice find.
Reply
FullTimeTrader
a year ago
These two channels seems to be containing price, we can still use them for next movements
snapshot
+1 Reply
Hi FTT.
i wanna now what is your idea about my chart?
Euro Movement
Reply
FullTimeTrader PooyaSalehipour
a year ago
Hello, interesting chart to consider. As i see its based on the trendline and ema200, RSI and S/R. That setup could work very well but under certain market conditions only, personally i prefer setups based con price action, EW, harmonics and then use the indicators as confirmation.
+1 Reply
PooyaSalehipour FullTimeTrader
a year ago
i analysis by waves and i don't use them almost. but, You are right. every strategy is the market need. thanks for reply ;-)
Reply
MaxTesla
a year ago
@FullTimeTrader Nice opportunity to long now ;)
Really great attempt to long EU
+1 Reply
FullTimeTrader MaxTesla
a year ago
Hello, nice chart, im closely looking price action for a corfirmation according to my trading system. regards.
Reply
KVE PRO
a year ago
Totally agree, some sort of breakout is bound to happen soon though: inside days, oscillators in the middle, PA caught in channels and trendlines...:
EUR/USD: Breakout imminent?!

No way to tell what kind of breakout, so I'm cautious with this pair, only short-term trades for me, probably some more up- and down movements with no clear direction coming I would guess...
Am preferring longs though, more signs point to the upside imo.
Cheers!
Reply
Good entry zone, let's see how it goes. Same view so far.
Reply
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