UPDATE #2: TRADE: EURUSD: SELL@1.12720 Trying to catch a wave 3

FX:EURUSD   Euro / U.S. Dollar
1697 13 30
Now that this trade is firmly moving in the direction I'm anticipating, I just wanted to update this trade to include my possible TP's. As prices reach the TP1, I will evaluate the price action and update the wave count to see if I will take any profits at that point or let the whole trade ride. When prices reach the TP1 and also the bottom TL, there could be some kind of reaction so I'll be looking for that. But I am expecting that prices will continue to decline in this pair for now. But keep in mind that for the LONG TERM, I am still VERY BULLISH and will be looking for a large wave (C) to commence once prices have reached the completion of this crab . But I'll deal with that whenever that happens......

Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I will know my posts are useful to you. Doing so will encourage me to post more! As always, all constructive comments are welcome. Agree or disagree.
Trade closed: stop reached: SL on this trade was reached so trade is closed for a -20 pip loss. My wave count has been proven wrong so now I will need to re-analyze and see what is going on and why my wave count was wrong.
Please look a daily chart u can see a flag..from 1.0817 to 1.4044 to 1.1111 we may will goup till 1.1750-1.1800
yes, there is a bull flag that is forming on the daily chart. It is a bull flag that I have pointed out more than 2 months ago. Forgot which post. BUT you have to remember....THAT IS A DAILY CHART! There are man more price movements that can happen within the lower TF's before that DAILY flag completes. Personally, I think the flag is not complete yet. Don't forget, I am VERY, VERY BULLISH on this pair and believe prices will eventually reach 1.26's! Or higher!

Speaking of flags, Do you see the bear flag forming and almost complete on the 4HR TF?

Here's my Weekly chart showing my BULLISH view that I started building 2 months ago. This one is update with current prices.
+1 Reply
kuzibekov EverythingForex
Before we reach there we have to test at least 1.0000 or below.... ECB will not let it run above 1.15 that's for sure....
Why does it "have to test at least 1.0000 or below"? I'm not disputing you but rather like to know your reasons. Posting a chart would be nice. That way you can be accountable for your words. Or do you not want to be accountable? Right or wrong, I post my ideas for all to see and to hold myself accountable. I don't know what the ECB will or will not do. Nor do I really take such rumors into account in my trading. Unless someone has a first person face-to-face inside knowledge coming straight from the ECB BEFORE they say anything, it's all nothing but rumors and speculation. Can't trade on that. Simple question for anyone who says it's a SURE thing....would you bet your life on it?
kuzibekov EverythingForex
No offense, I posted my chart a month ago shorting EURUSD from 1.11400 till 1.14000 so I have already built my short positions target 1.000, About the question why ECB should bring it down. First. ECB QE is still in the process they haven't started tapering yet. Basically they still keep printing. Will they print more? (that's a rumor) Rumor is a rumor not reality but reality is ECB's current QE is still in the process. Second USD side: Will FED start new QE? No, we are expecting RATE HIKE. what if FED doesn't do rate hike? will ECB able to achieve targeted inflation rate? No. Nash equilibrium, If FED doesn't move ECB will move. Technically I don't use waves or harmonic patterns they are not clear and you might count wrong or harmonic patterns may not work always. thus I have my own system with my platform which I can't share the chart here. I dont bet or gamble, I trade....
Below my post: SHORT EU
No offense taken nor (hopefully) given. I'm not and don't want to get into any debate of TA vs Fundies so we will just have to agree to disagree. My own chart about why I think the EUR will be going up and not down I posted 2 months ago. And so far, all is going as expected. Well, not ENTIRELY as I did expect that prices would've already started it's ascent. Only time will tell who is correct. But one thing I would say, although different points of view is welcome, NOTHING anyone can say will sway me away from analyzing and trading the way I do and have been for decades quite successfully. My trade posts here can attest to that. But thanks for your comments and your point of view. Appreciated but I don't agree. Good luck to you though!
kuzibekov EverythingForex
Thank you Sir. Let's see how it goes. Good luck to you too!
kuzibekov EverythingForex
So Far ECB doesn't want to see it above 1.15....
you have incorrect counting , maybe it is going 1,1350
another wiev :)))
Thanks for your view. Obviously, I don't agree with you but I would never tell you you are incorrect though. It's just another view which is appreciated.
+7 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
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 Contact Support Ideas Published Followers Following Private Messages Chat Sign Out