Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

Originally Posted by AyoBro

Hey Mat
I hope you okay in your current position. Technically, UChf and Dollar index has hit there monthly descending trendline. After the w4 triangle(pit stop), the thrust(which is always terminal coming out of a triangle) failed to stay above the trendline(resistance). They both possibly hit resistance in a w(c) or w(e) within a monster triangle. UChf moves slower than EU but their correlation is ridiculous. Me being an EW person, shouldn't analyze EU w/out doing the same for UC, 'it's almost self-defeating' as the EW heavyweights would say. EU has finished five waves, either from 3678-1875, 3817-1875 or worst 5143-1875, so 23.6 or better retrace is a must, regardless of fundies. Personally I think Mr. Market moves as it wants. I'm not a fundy person, but I think it's all about risk appetite(investing) and risk aversion(fear). Anyway, in the past I witness, when the rate race is in motion some fundies just don't matter? The race stimulates risk appetite (increased bets on the next country to raise rates). Well the first three countries that raised rates this time around, was the commodity currencies, AUD,NZD,CAD. I think they even benefit the most from carry trade? Raising rates is a means of fighting inflation, I think? Normally, inflation is due to economic growth? Economic growth re-stilmulates risk appetite. Well, risk appetite stimulates carry trade? If someone can clarify what I'm trying to say, your help would be greatly appreciated.

A-Yo Bro

Hey Bro,
Hope you are doing well too ;-) I am looking to exit around 1.22 if it gets there. All technicals are pointing up. Even if some news came, it is bullish (at least for the rest of the week).

Enjoy !

Been looking back through the charts these 2 weeks and saw that every rally up starts at gmt 0800, what usually happens at gmt 0800? Im gonna start buying at gmt 0800 today as an experiment good luck to all the traders out there

Originally Posted by FLFOREX

Money, nice job on some solid trades today and nice calls, keep up the fantastic work, and welcome back!... mike

give me a holler

Originally Posted by AyoBro

Hey Mat
I hope you okay in your current position. Technically, UChf and Dollar index has hit there monthly descending trendline. After the w4 triangle(pit stop), the thrust(which is always terminal coming out of a triangle) failed to stay above the trendline(resistance). They both possibly hit resistance in a w(c) or w(e) within a monster triangle. UChf moves slower than EU but their correlation is ridiculous. Me being an EW person, shouldn't analyze EU w/out doing the same for UC, 'it's almost self-defeating' as the EW heavyweights would say. EU has finished five waves, either from 3678-1875, 3817-1875 or worst 5143-1875, so 23.6 or better retrace is a must, regardless of fundies. Personally I think Mr. Market moves as it wants. I'm not a fundy person, but I think it's all about risk appetite(investing) and risk aversion(fear). Anyway, in the past I witness, when the rate race is in motion some fundies just don't matter? The race stimulates risk appetite (increased bets on the next country to raise rates). Well the first three countries that raised rates this time around, was the commodity currencies, AUD,NZD,CAD. I think they even benefit the most from carry trade? Raising rates is a means of fighting inflation, I think? Normally, inflation is due to economic growth? Economic growth re-stilmulates risk appetite. Well, risk appetite stimulates carry trade? If someone can clarify what I'm trying to say, your help would be greatly appreciated.

A-Yo Bro

15 min . chart has nice bull flag going

Originally Posted by Kurt_Lang

Been looking back through the charts these 2 weeks and saw that every rally up starts at gmt 0800, what usually happens at gmt 0800? Im gonna start buying at gmt 0800 today as an experiment good luck to all the traders out there

Yup that's about the time of the low. Around 3 to 4 am ET. Waiting ...

Originally Posted by Kurt_Lang

Been looking back through the charts these 2 weeks and saw that every rally up starts at gmt 0800, what usually happens at gmt 0800? Im gonna start buying at gmt 0800 today as an experiment good luck to all the traders out there

I think thats the start of the london session?

Originally Posted by Mat23

Yup that's about the time of the low. Around 3 to 4 am ET. Waiting ...

Lol its during London market opening and the asian market closing, i just facepalmed myself, gonna put an entry closest to 4 am est

Originally Posted by smalleyes

I think thats the start of the london session?

Yes im ashamed to admit that i never memorized this most basic of basics, im crying inside for all the pips loss for this ignorance *sob* *sob*

Originally Posted by FLFOREX

Money, nice job on some solid trades today and nice calls, keep up the fantastic work, and welcome back!... mike

Hope all is well. What's up with the market it is at a creep?

Man, this pair is so slow and boring today. Wish I would not have put off mowing the yard. Tomorrow I'll have to raise the mower and fight the jungle.

I also remembered that the first three days of this week are Chineese holidays, so probably that may be the reason for so little action. I know some of you tech-chart traders types can scrape up pips in these shallow times, but a trader-puke like me just sits and wishes for movement. Think I'll monkey with the hot rod for awhile.

Current tend still looks like an expanding wedge northward on the 4hr chart. If I use my crude mechanicle engineering calculation, if the current up and down trend keeps the stride, the next 12 hours will go down to 1.223x, then bounce up to 1.245x after a couple more bars on the 4hr chart.

Mind you that I am basically a newbie, not an EW, Fib or Fundy. I trying to learn new things and my predictions have no weight or merit. Occasionally I like to post, but sit and learn from the real traders most of the time.

I only hope to be at least 10% as good as you guys.

Cheers.

We are range bound between 1 min 200 and 1.2321 resistance. This is a breakout senerio. hummmmm which way?

Earlier I meant to say 1 min chart. The pop corn is just getting warm. There is a downward channel of resistance the pair is about to run into. That should get things going. No it is the 5 min, sorry I just woke up!

Originally Posted by Mat23

Hey Bro,
Hope you are doing well too ;-) I am looking to exit around 1.22 if it gets there. All technicals are pointing up. Even if some news came, it is bullish (at least for the rest of the week).

Enjoy !

Yeah, Im short but don't feel comfortable about the daily chart. My 4hr early stochs has turned but price has only achieved 23.6 of 2347-2167 on a trickle down effect(slow drip), 32.8@2278 sits close to the previous top. Beware of a new top before a drop below 23.6. That can spell trouble.

Originally Posted by nopainnogain

15 min . chart has nice bull flag going

Yeah, that bull flag reminds me of a small w4, so I'd expect a drop to 32.8@2278 to complete the flag before a possible double top situation. But if it jumps before dropping to 32.8, it's very possible the rise would equate the length of the pole, I doubt it but price has a mind of its own right about now?

Be careful. I've taken 15pips here and 5 there from the short side. Moving to slow for me so I'm flat for now. Time for some sleep.

A-Yo Bro

Ayo What do you Think? We will see if I am right next hour......"puzzeld...making sucking teeth noises" just having fun lol

Originally Posted by MoneyInc.

Ayo What do you Think? We will see if I am right next hour......"puzzeld...making sucking teeth noises" just having fun lol

Sup Money, money, money, moneeeeeey

I'm assuming that the upmove is finished by looking at your purple w1? So w2 shouldn't exceed the top? Price below 2301-2297 would be a complement to the count. Question, ur black 1-4 structure, is that wolf waves? Otherwise, my indicators are playing tricks on me, so I'm flat. Btw it's past 12am,still no fireworks. Be careful with this monster, dailies are trending up and o/b indicator levels are barely giving up 40 pips.

A-Yo Bro