Idea is based on Elliot wave theory. The rationale behind this setup is shown on the chart. If you would like to know more about the way I am using the stochastics to confirm my wave count, please check my strategy idea. Good Luck
I don't know why some people are bearish on EURUSD, maybe it's the major downtrend that is keep them from buying EURUSD. I am with you Hamza. I can see the EURUSD going higher. This downside move that we got on EURUSD is more of a correction to me :)
Honestly, personally as a technical trader I don't even bother looking at others. Why? because the moment you do that, you are basically telling yourself that you need extra confirmation and thus will doubt your own analysis. I prefer investing energy (lots of it) in improving my own strategy. And very often only after losing a trade I retrospectively will try and look around for a better analysis by somebody else. Again I do this in order to further develop my own method. Psychology is by the far the worst enemy in trading :)
I think the confidence that you have built within your self and your system came from true hard work, Good job. Thank you for refreshing the psychology part, now I realize how easily it can be forgotten.
Sorry my intention was not to teach you but rather to relate to your situation considering that I myself used to be influenced by other forecasts and only to discover later on that I should have sticked to my original plan :)
I try not to let other peoples view affect my trading plan, but when I see the ideas of more recognized traders on this website, I kind of take a step back and re-analyze my idea before pulling the trigger. I don't know if that's a good thing or not. But as we know no one is perfect in this business, it's just the amount of experience with a good trading plan that matters :)