motleifaul
Long

Let's try again.

FX:EURUSD   Euro Fx/U.S. Dollar
66 10 0
Nothing has changed. The Euro             is fluctuating in a range and I suppose it to stay within for the holidays. So long.
I am closing the position taking the loss. I got stopped out. It is, of course difficult to trade the upside in a downward trend and that's why I am operating with tight stops to avoid heavier losses.
+1 Reply
jangseohee motleifaul
so far, my black uptrend line & lower channel couldn't support, we could see 1.18 first
and it is always difficult to trade in the middle of the thick channel :-)
knowing that you are in the wrong direction faster in smaller timeframe can save you alot
+1 Reply
i speculate that the fluctuation will get more violent as it gets near to next ECB announcement :-)
DXY vs FXE
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motleifaul jangseohee
Thank you for this great study, janseohee! I wouldn't have detected the mirror here. And I usually don't use such long term charts as I doubt that the work over such lang time periods. But nevertheless, I like them and I never exclude, that things work which I don't believe in.
I am fascinated of this kind of patterns as how structures magically develope over the times. You are welcome and I wish you good luck in the year ahead.
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jangseohee motleifaul
Merry Xmas to you Motleifaul
It doesn't mean that i am definitely right/correct, but i do believe that long term chart detects mid-term chart which detect the short-term chart, and it is a cycle which i go to and for to check the validity and thus my decision to trade
In addition, your 60min charts is showing what my monthly and weekly chart are doing, hence there is a very definite moment of why all these converge to a zone :-)

Base on the mirror above
I categorize on two big moves leaving out the minor move

1. Should Draghi decides to print more EUROs by ~15 Jan, EURUSD will break my monthly support (the circle zone) and then the DXY vs FXE chart will have the comparison pair "CROSSED" instead of reflection

2. If there is still no action from Draghi, EURUSD monthly will continue to move in triangle for consolidation and hence Mirror Reflection will most probably occur

Thats how i see it

I am not a registered and paid user, hence i cant post any timeframe < daily, all i can do is to explore smaller timeframe post like you do and check back my daily - monthly chart of which i will then share my post to share the big picture if you don mind :-)
Reply
motleifaul jangseohee
It's a quite reasonable approach and I wish you good luck with it(I suppose you have it already). It allowes you to identify the possible more sustainable moves out of the short term noise.
+1 Reply
jangseohee motleifaul
:-)
Reply
jangseohee motleifaul
likewise i wish you good luck as well with your trading :-)
Reply
motleifaul jangseohee
Once again: I just studied the weekly chart more carefully. It must have a meaning and probably you are right that we are in a very decisive situation. There is a structure that has developed over years which reflects a certain polit-economic world situation. Is this time ending now? Obviousely.
But this should have deeper reasons then and more than just impact on forex. Thanks for this view and see you.
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Because in a big picture..
price is currently on the MOST MOST MOST important S/R line (also known as mirror)

EURUSD, normal path vs ECB induced path
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