As I told my Syndicate members last night, although we’re at a minor level of structure, double bottomed at that level (LTF) and are currently putting in a 2618 on the Euro, I have no intentions of buying. It’s not a Greece thing, or the fact that I’m scared to pull the trigger after yesterday’s losing trade. It’s simply because I have no real place that I would...
Surprisingly the bulk of the movement on EURUSD yesterday seemed to come in the…Asia session (whaaat?) Anyway, we are now down in a zone where I thought we may see a potential reversal. Personally I got long on the smaller Gartley pattern this morning (from 1.1231) but keep in mind we also have a bigger bat pattern lurking down at 1.1182. I got the question...
The response of last week's test of following a single pair throughout the entire week was FANTASTIC! I really enjoyed doing it, and a lot of you really enjoyed seeing how my analysis (IF/THEN Thought Process) changes throughout the week. Per request, this week I'll be following the EURUSD. Now Monday's are typically my non-trading day. I will place them if...
Things have changed on the hourly chart. - now overbought level in RSI again turns the hourly chart into neutral mode - I would not say bullish mode (yet) - the last & very swift up move calls for a correction, especially since it is meeting resistance - the daily chart is more diffuse (see yesterday's daily) Since this 1 hour chart is now also going neutral,...
Based on Fib Extension and Structure Target around 127.2% extension from last move. IF we break that 127.2% extension THEN we move to 161% zone. "Look left, structure leaves clues..."
Hi All, This idea is based on YuzukiChan's idea (thank you vey much!). Agree with Elliot waves structure - we had 5 waves impulse, then we had abc correction, now we starter impulse and withing this we had smaller correction impulse. Targets are 1st - little below last top (this is also 127.1% of fibo extenstion from small correction move) (RR - ca 7.5 2nd...
I think EU had enough and 0.886 hit as Gartley refers.. lets see if its gonna roll Target 1.070 I roll the dice :)
To follow up on last week's EURUSD idea, the pair has finally reached higher level of structure that I liked during yesterday's Euro rally. We've now double topped at that level and have broken structure to the downside setting up for a potential 2618 opportunity for those traders looking for a conservative approach to get involved. We do have A LOT of news on...
I've explained this trade in detail during my latest Weekend Review video (link below), so i'll try to be brief. Like everyone else, I want to buy Dollars & Sell Euros based off of the fundamentals. With that being said it's important that we don't try and jump on the bandwagon because that's how a lot of rookie traders get burnt. Rather, we should stick to what...
Same story as DXY, inverted, obviously, we reached the 61.8% fib from A to B, expected a retracement with the target around the 31.8% fib from B to C (synced with the previous structure), around 1.1117, eventually forehead the pivot area at 1.1154 near the 50% fib. Have safe trades.
If the downward movement continues, a breakout of this support to the 61.8% fib is a possibility, or even go further from here. If a retraction arise, from this Support where we are, or from below (acting as a false breakout of this support), we will look for the last lower lows from structure, around 1.108 or 1.122, however, the 61.8% fib extension from the...
I'm expecting DXY to move up to 50% Fib Extension, that will sync the structure with past lower lows from March / April, and then to complete a retracement from all this uptrend, moving down, between 50% and 61.8% fib retracement. Similar movement (inverted), expected with Euro/Dollar pair. Have nice trades.
The Michigan Consumer Sentiment Index was at it's lowest since 2009 - this release pushed the EURUSD back up to 1.144 level (highest 1.1465) from the lowest 1.1323. There could be some pull backs and we could see the EUR go down to 1.12 levels but this upwards rally is to continue towards 1.15, 1.17 and even 1.20
Here we have a daily chart setup of the Euro against the US Dollar. The pair is trending in a downtrend so we will be looking for shorts. Confirmation of the downtrend is price currently trending below the 200MA. You can see rejection off of the downtrend-line. At that rejection point you can also see a bearish Evening Star pattern formation followed by a pullback...
It is possible, before we reach the target of bat pattern mentioned above on Daily chart, that we can see the price to go test Pivot Zone. For this to happen, the price must break the channel. Let's see how many times will need to test or if it breaks down the area, or a continuation of upward movement to Bat Pattern target Point D.
The pair now is finding support against the uptrend line that started it in March 13. The price didn't got break a resistance in level 1.10281 which is the 61.8% retracement after the fall since February 26. Also we can see a triangle ascending pattern that is being built. I choose a long position for the current level of market with take profit in 400 pips and...
Breakout or not in eurusd is still not clear but the way dax is moving (short euro and long dax) is coming to an end with dax now at upper trendline resistance of 11900. Too many shorts in the system already and any position being closed out or any news -ve for euro will lead to reversal in eurusd as well as in dax. Go long in EURUSD and short DAX
EURUSD has seen a significant drop after the rally that occurred during the Greek elections. This formed a bigger picture demand zone for the EURO. The intermediate supply zone highlighted has a lot of PA in the area, so it may only hold through one retracement back to the level. The next time price gets to the bigger picture demand zone, it will be the first...