TimStuyts

EURUSD bigger picture

FX:EURUSD   Euro Fx/U.S. Dollar
685 22 18
9 months ago
I still follow my long term wave count although there are several opportunities to count the current consolidation on the daily time frame. I believe that this pair is in a triangle consolidation for a wave B which will be followed by a bearish break towards parity and even lower.

The 4 hour time frame shows the structure of lesser degree to create this triangle.
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For my day trade set-up call of last week see below:
EURUSD buy



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9 months ago
Trade active: Last weeks buy set-up took me in the trade and the opening gap of this week made me place stop loss at break even.
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I will monitor this bullish price action to determine whether it is a new impulse or part of the more complex corrective combination which is more likely at this stage. Updates will follow, so far risk/reward is at 2/1 with no risk.
9 months ago
Comment:
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9 months ago
Comment:
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stream
9 months ago
This month is not finished .. and also the picture is different .. Just check the monthly support , and daily as well
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TimStuyts stream
9 months ago
Whether or not this month is finished doesn't matter for the analysis. Don't understand what you mean with daily since this charts are monthly and 4hr.
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stream TimStuyts
9 months ago
ok i suggest you to check the support on daily chart , you not have any short .. maybe several pips . triangle is finished and to the end of this month eu will be above it
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TimStuyts stream
9 months ago
In my view nothing has finished yet. Short term set-up is clear and updates will follow. The monthly triangle is a scenario and there is a lot of room left. I'm not looking for support or resistance because I;m looking for the move that breaks that based on structure.
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stream TimStuyts
9 months ago
you are right .. this will be my trade from the start of the /x/e9xnFePa/#
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stream stream
9 months ago
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TimStuyts stream
9 months ago
It is not about trading from the start or not. Please read my previous posts so you see how to pinpoint an entry based targeting potential risk/rewards of more than 10/1 but minimum 1/3. (I go as low as 5 min for a potential move on daily, weekly and sometimes monthly move (potential because these moves might break support and resistance with context). Key is to keep an open mind and support/resistance follows structure, not the other way around. I see the levels you mention but only find them relevant if structure reverse out of that zone. This way I can rationalize stop loss. You post a scenario which is possible but for me the risk/reward is just not good enough. I will update once we see the first move so that might help you understand what I'm looking for. Thanks for your input and good trading to you!
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stream TimStuyts
9 months ago
i am really sorry i posted a wrong idea hare .. so ...let me tell you something .. eu is going up now to the end of the month .. is a corrective movement .. it not need to go to 1.10 at all . its about the structures yes . but you got it wrong .. I am sorry .. but you have review all that . 400 pips up is not a joke .. good luck to you ..
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TimStuyts stream
9 months ago
I'm not wrong because I explain scenario's and what to look for and apparently you don't understand the term 'long term scenario' and how to read structure long term and short term. I explained several times what to look for both bearish/bullish and the rest will follow. However a good trader always has several scenario's in place so he or she can adjust. That's what I'm teaching and if you want to learn try to understand instead of convincing others there is only one way because I'm not interested in such biases that really don't make sense and is like flipping a coin. So if that's what you want to do, you can do that on your own page for those who like biased analists (Always think on IF=THEN before you say something). I will help you but please ask a question so I can help you understand structure and how to interpreted wave counts. There are no 'wrong idea's', only some that have a higher probability than others. You have a bias, I have an open mind but never said you can't be right. Pips don't matter for a professional trader, only Risk/Reward and probability. 400 Pips is a marketing tool but means nothing to those who are experienced and I think this shows the difference between you and me. Thank you
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stream TimStuyts
9 months ago
be careful with the short ..thats all .. i dont need explenation ..
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TimStuyts stream
9 months ago
Very well no explanation but I suggest you look at the short term set-up as posted last Friday, bottom of the post. Which is a buy so not sure what you talk about in terms of short but I stop responding. Have a good day!
EURUSD buy
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stream
9 months ago
i am so sorry , i posted here the wrong chart , but then forgot to post the right one . Just take a look on support , now this is the confirmation,, ..

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TimStuyts stream
9 months ago
Still your comments about a 'short' are not making sense or any comment for that matter, we also have a different view when it comes to calling something confirmed. Support/resistance is not what I trade but only use in my advantage when in line with structure. Anyway let's stop this discussion since it is going nowhere. Use my analysis in your advantage or ignore it.
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stream TimStuyts
9 months ago
its on support which you never see there is nice pin bar on daily and on weekly which is price action signal .. but you continue to not see .. for sure i dont need your help .. .. end of conversation
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TimStuyts stream
9 months ago
I see it is just not relevant.
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catrionaforex PRO
9 months ago
Hi StuytsTim, thank you for your very detailed analysis of the charts. I am a new trader and they are helping me to better understand wave analysis. I picked up on one detail here during your conversation with 'stream' that there is a difference between support and resistance, and structure. My training has led me to believe they are one in the same thing? Your thoughts would be appreciated. :-)
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TimStuyts catrionaforex
9 months ago
Hello Catriona I'm glad to hear that the analyses are helping you. Support/resistance is based on where traders believe orders are placed so price should bounce from. There are several ways to determine these levels and I personally look at the zones where the major investment banks have their orders (weekly time frame). These are zones and not exact levels. However structure explains the whole dynamic of price action and if you are able to enter a trade based on structure out of a major support/resistance zone you have a high probability trade. But support and resistance is something you can only determine after the fact because price can bounce off support once or twice but there is no rational dynamic that tells you how many times it will and if it will work next time. Therefore I mentioned that I look at support but structure is leading at all time, I will therefore not buy on support but wait for structure to tell me whether or not to buy. By moving to a lower time frame you more or less can have the same entry as from support but then with context. Also structure breaks support/resistance sooner or later. I'm not saying that any other strategy than mine won't work but realize that 95% of the retail traders loose money. Trading is a serious business and you need to be dedicated and eager to study. I demand a lot of myself and my set-ups when it comes to trading and sometimes I have to let many set-ups go where other might trade it. However you will see that in the end this will pay off. So that's why among other reasons I keep repeating; keep an open mind, things change and we are there to spot that and adjust when necessary. That's why structure is such a great thing, it explains and warns us for changes where nothing else does until it already happened. Hope my view helps you understand it a bit more. Have a great day and good trading to you!
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catrionaforex PRO TimStuyts
9 months ago
Wonderful, thank you!
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TomPower
9 months ago
Tim, on that latest chart it's looks like it can play with that trend line dancing up and down it, but how do you know which way it's going to go.
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TimStuyts TomPower
9 months ago
You mean the latest update? I'm looking for a wave C higher and then we will see at least 3 wave correction fo the bearish impulse after Brexit. Once that is in place I'll look for a sell towards 1.08. If it moves lower from here I need a clear impulse of lesser degree and will adjust but will let it go at first. However I consider the current 'flag' a wave B consolidation and therefore have a bullish bias for wave C towards 1.250. Hope that answers your question. Let me know if I understood you wrong.
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TomPower TimStuyts
9 months ago
Ok I c that 1.1250 first. I was just looking at that trend line from the bigger chart that you have superimposed on the smaller Chart , doesn't look like it has any relevance in this chart.
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TimStuyts TomPower
9 months ago
No is hasn't any meaning on the 15 min chart, sorry for the confusion, will select daily tf for that trend line alone next time. By the way my trend lines are only for visualization purposes.
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