Kumowizard
Long

EURUSD - Hold counter trend long / adjusted 4H

FX:EURUSD   Euro/U.S. Dollar
181 1 3
Sorry, but in previous post the 4 hrs             chart slipped. Otherwise all is same.


Don't get confused with intraday volatility . Hold your swing long positions until it breaks back below 4 hrs             Kumo, or until we see some other serious Ichimoku signal that suggests to reconsider closing the counter trend trade.

Daily: bear have some more problem here. DMI switching to bullish . Chikou Span (price lagging line back 26 days) comp,etely lost open space and about to hit or maybe make a weak bullish cross above price candles. Today cankde is a continuation pattern if closes minimum above Kijun Sen (of course the higher the close will be the more likely the bullish price action will comtinue).
First tgt             level is still around 1,2970-1,3000. With this kind of volatility and in case a sudden bear capitukation we can reach that within 2-3 days. What's more, it really has some chance forma short term overshoot above 1,3050. Anyway, there I will close longs, as the Kumo is still far above Price and thick.

4 hrs: Previous candle retested the 1,2720 key support and Kijun Sen (closed above Kijun). Since then Price has been moving up. On this time frame the good strategy is buy on dips, until any reversal or bearish signals. Chikou Span here is in open space, it has room to move higher. Stay long!

P.s.: some advise: do not play or think based on this BS hike - no hike, tape - delay taper stupid FED officials' game. Don't read the idiot news headlines! Not even when you see a sudden intraday move! It is not interesting what causes temporary moves, those news just make you confused from one minute to the other. Everything will be finally destilled in the charts, and the mkt will move the way of the smallest resistance. Just stick to your trading plan and strategy, and trail your stops up but in accordance of increasing volatility . When ATR is so much higher, then you have to reduce your trade unit sizes and you should trail your stops slower.
1,2830 short term key resistance refused again, so I closed part of my counter trend long at 1,2800. The 4 Hrs bullish momentum may be loosing steam. ADX is down, Chikou hit Price candles, and short term equilibrium Price is up to 1,2740. Another selling round in this pair is possible to happen soon, so probably after closing all the CT longs I won't try to catch the next dip.
Still I prefer to short EUR on other crosses, and play some more USD bearish trades on GBPUSD and AUDUSD longs.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out