Gorbie
Long

EURUSD: long

FX:EURUSD   Euro Fx/U.S. Dollar
792 14 17
Long to 1.1980–1.2150 area
Comment:
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Entry at 1.1074 area
Take at 1.1860—1.2060 area
Comment: Waiting for the last leg down. Entry at 1.1062—1.1034 area.
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Trade active: Keep going to 1.18+

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Comment: Bounce from buying zone.

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Comment: What's next?

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Comment: It's seems like Zig-zag ABC (5-3-5 structure).

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Trade active: Reentry at $1.1219—1.1173 area.
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Comment: Can be one more swing down before a bounce.
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Comment: Entry at $1.1120, stop below $1.1098
Comment: Unfolding the Zig-zag ABC (5-3-5 structure). Looking for entry at $1.1145 area.
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Trade active:
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Comment: Looking for additional entry after pull-back.
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Comment: Good reaction here. Book your profit above $1.1650
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Trade closed: stop reached: Did breakeven. Setup cancelled.
Seems viable. I'm long already, agreed.
Reply
What about the Brexit? If the UK vote yes the Euro will drop. If they vote NO the Fed will raise in June and the Dollar will rise, so the Euro will drop again! What are youre thoughts on that?
Reply
IvanLabrie PRO mulleman.kurt
Are we there yet? Nope.
That's a very binary theory, regarding impact of Brexit vote and outcome.
I think it's more complex than that, and that it's priced in, as a volatility event, whatever the outcome is. (also, it seems unlikely that UK carries through with Brexit, but hard to say).
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IvanLabrie PRO IvanLabrie
Bottomline, I'd go by the chart, and monitor extremes of social sentiment to act...right here, I'd say 90% of traders fear long euro trades, so I'm more inclined to go long.
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It is indeed a month away. But if the Brexit will not influence it what will drive the Dollar up? Do I miss something?
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mulleman.kurt PRO mulleman.kurt
Sorry I mean down
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IvanLabrie PRO mulleman.kurt
We don't need to know exactly why, we can theorize about it, but the most important thing to trade is the reaction the market shows in the charts.
Then we trade accordingly. Noting key levels and looking for extremes of sentiment and agreement of the 'crowd'.
The dollar is in part oil, and against the euro and yen, it's policy divergence. So, broadly making a dollar index chart and speculating on it is a bit futile in my opinion. Different dollar elements might do dissimilar things quite often.
Gorbie's chart makes sense from a technical standpoint, and aligns this bottom with a sentiment extreme in the euro. It's viable to look for longs in this overextended move.
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I try to add some fundamental analysis to the technical analysis to understand the market and the way it is going. That's all, sorry for asking.
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IvanLabrie PRO mulleman.kurt
Gorbie is strictly a technician, he does post quality work too.
As a sidenote, if interested in discussions like these check out my publications or the chatroom linked in them.
Cheers.
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Gorbie mulleman.kurt
The fiscal acts, social mood and news are interesting for conversation between friends and mates. I don't know how it's using for trading.
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trtryytyrt5
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dostan e farsi zaban pm bedan.
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i have buy@1.14...please advise
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Gorbie rit29
Place your stop at 1.1160... and wait price action. Take at 1.1980—1.2160. Good luck and safe trading!
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