As the price has bounced of a daily channel, the possibility is, that the weekly support - 0.7250 area break is likely to happen. I suggest, Sell Limit, after a breakdown, as shown in scenario 1,
SL above 0.7350 (I suggest to trail, and use a "timing" stop also)
1st Target at 0.7000
The price has formed a "congestion at the key resistance area (short term).
In case if the price is bouncing of 184.00 area, Target is 181.500 Breakdown will open the way to 180.000 Area.
Stop Loss at the moment above 184.00
Yesterday's close once again confirmed EUR weakness. Offcourse some of the traders are experiencing discomfort with not being in it :) As far as I can see, the price is showing us a 1H weak reversal signal (do not use it) which is giving us a possibility to sell by a better price.
Sell Levels:
1.0825
1.0900
SL > 1.0900 (maximum, in case of 1.0825 Bouncing -...
The Price is at the very strong support area. The bounce of this area is highly possible mid-long term .
In case on a "Bounce" Scenario - the 1st target will be at Weekly 0.7750 resistance area.
The break towards down is also possible, but have to be confirmed with a price action,
Short term. In case if the PA will confirm a level brake, the continuation towards the 1D down-trend is highly possible. It will open the way down to 1st: 0.7600 2nd: 0.7550. In case of a bouncing off the 0.7650 Level, the price 1st target will be at 0.7750.
Short term Analysis does show us a Possible bounce areas for an Upward move continuation
For now (short term) if P>1.2610 1TGT = 1.2620, SL<1.25700
Where:
TGT - target
Sl - Stop Loss
P - Price
Dynamic intra day hedging:
Fundamentals and and a lack of
interest in the euro has has it fall
substantially, USDCAD is -95%
corralated to the EURUSD
and we have seen a strong canadian
dollar over the past few d
ays. effectively by creating
two positions one short on
the eurusd and one long in usd
cad with the same lot sizes
we can effectively minimize...
Merry Christmas folks!
Today I decided to show you a phenomenon I'm sure many of you already know of, but which I find is the best and most profitable way of approaching Forex trading, based on my past experience.
I normally traded intraday using 15m and 5m charts in the usdcad and usdjpy pairs, before transitioning to longer timeframe trading.
If your capital...
In view of price action on the daily time frame, EUR/USD has demonstrated a lower high with a rally back into the daily time-frame's falling trend line with the possibility of heading into ~1.2885 where the recent daily high sits. A violation of this high, though unlikely, could see a change in trend in EUR/USD. Until then, as indicated by price action behaviour,...
Always with regard to doing some backtesting evaluations aimed to spotting reversal, let’s consider only intraday, and only slow Guppy Multiple Moving Average - GMMA.
reversals seem to be often signaled by the concurrence of:
1)high distance (say 1 or 2 STD, it should be checked out) from vwap, while
2) price vs all slow GMMA, or at least most tehm, are on...
Continuing coverage of ACRX this week, we saw ACRX pullback with the market as a whole early this morning. ACRX broke right through support at the .236 retrace, but found support at yesterdays congested zone at the .382 retrace. Uptrend remains in place. $9 remains 1st target. Stop now at 7.70.
We are very right side of the market, pair broken down the bearish channel. In idea case, stop loss can be moved up bit, but we are not changing our initial plan and stick to 8300 stop loss level, and same for target.
Purely a technical setup that I am testing. NOT TRADING IT. Its too easy to make tech setups look pretty. But looks count for nothing in this game, especially when their depth is less than 50 points. I will watch and see.
Price is stalling and rejecting the 1.27 ext and .786 retracement at the gartley PRZ.
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