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

Could u guys please comment on this if possible, ofcourse, am quite new and got some questions:
how do i reveal the point when correction is goin to take place or in this case even if it hits the bottom line and doesn't breakthru it's not gonna stick to fibo levels
i am just very unsure with what i did here and would like to know what's wrong or right, just to figure it out

EUR/CHF 4H chart
Thanx, Senja

attention to doji bar and gap..

good luck..

Looking to short the euro pair at 1.2932

Originally Posted by MoneyInc.II

I see what your saying Styker but 1) if it falls below 1.2855 it goes into another triagle a downward triangle. 2) the yen completed a full EW from 85.89 on 8/29 to 85.21 on 9/3 it retraced over 68% of it downward EW move could indicate dollar strenght But right now it is sitting in a bearish Triagle. Hence putting pressure on the dollar to make a bearish. Either way the yen is going to make a 150 pip move but which direction????? The Euro is going to make a 100 pip move put which direction????


Ps i have entry point on both sides of the pair with tight stops both pointed up

Hi there Money... Just woke up and sick as hell.... My flu came back and i will be heading to the doc in a while...
It just hit me, the US is off today.. It would get real boring i guess with no volume..
As for trade, i have AUD shorted at 9175 and euro waiting at 2832....
Today the pairs may stay within tight ranges..
Gotta go to the doctor...........
GL...........

Originally Posted by Screwdriverr

Could u guys please comment on this if possible, ofcourse, am quite new and got some questions:
how do i reveal the point when correction is goin to take place or in this case even if it hits the bottom line and doesn't breakthru it's not gonna stick to fibo levels
i am just very unsure with what i did here and would like to know what's wrong or right, just to figure it out

EUR/CHF 4H chart
Thanx, Senja

Screwdriver, there are 2 things that popped out at me immediately,and would have given me a heads up that there was a turn to come. i have highlighted them for you with red trendlines on your chart."Bearish divergence"=when price is making higher high's, and rsi is makin lower highs, "Bullish Divergence"= price is makin lower lows and rsi is makin higher lows.information is readily available on this topic, just google it. Mike

Mick,

what is your take on the Eur/USD right now??

Cheers

Originally Posted by FLFOREX

Screwdriver, there are 2 things that popped out at me immediately,and would have given me a heads up that there was a turn to come. i have highlighted them for you with red trendlines on your chart."Bearish divergence"=when price is making higher high's, and rsi is makin lower highs, "Bullish Divergence"= price is makin lower lows and rsi is makin higher lows.information is readily available on this topic, just google it. Mike

Thank You Sir, i really appreciate it, these things must have slipped from my mind.

Originally Posted by Warren1

Mick,

what is your take on the Eur/USD right now??

Cheers

This is the "possibility" in looking at for the moment.this is just what i see as of right now,and is not written in stone.... mike

Also H-S-H pattern at 15M chart..

Originally Posted by Screwdriverr

Thank You Sir, i really appreciate it, these things must have slipped from my mind.

Your Welcome SD

Originally Posted by FLFOREX

Screwdriver, there are 2 things that popped out at me immediately,and would have given me a heads up that there was a turn to come. i have highlighted them for you with red trendlines on your chart."Bearish divergence"=when price is making higher high's, and rsi is makin lower highs, "Bullish Divergence"= price is makin lower lows and rsi is makin higher lows.information is readily available on this topic, just google it. Mike

Thanks a lot Mike for that from me too.

I'm out of all trades for now. Last week the market was too choppy for my taste. However, there may be some clear direction emerging this week.

The hourly charts aren't showing any clear signals. There is bearish divergence on the MACD and the Stoch shows no divergence but is reading oversold so there might be some short term price retracement. I'm monitoring this as an opportunity for a long entry.

The daily chart has shown a lot of congestion over the last 2 weeks but a bullish indication is now emerging. The 10, 20, and 50 SMA are all pointing higher and now confirm (though not strongly) a bullish trend.

I'll be watching the hourly trend for a channel break and short term retracement to enter long below 1.2825. I expect 1.2775 to act as support. If there is no retracement and I miss this long entry I'll watch for a break above 1.2930 and look at entering a long position at that time.

Comments are welcome!

The Southerner

Originally Posted by The Southerner

I'm out of all trades for now. Last week the market was too choppy for my taste. However, there may be some clear direction emerging this week.

The hourly charts aren't showing any clear signals. There is bearish divergence on the MACD and the Stoch shows no divergence but is reading oversold so there might be some short term price retracement. I'm monitoring this as an opportunity for a long entry.

The daily chart has shown a lot of congestion over the last 2 weeks but a bullish indication is now emerging. The 10, 20, and 50 SMA are all pointing higher and now confirm (though not strongly) a bullish trend.

I'll be watching the hourly trend for a channel break and short term retracement to enter long below 1.2825. I expect 1.2775 to act as support. If there is no retracement and I miss this long entry I'll watch for a break above 1.2930 and look at entering a long position at that time.

Comments are welcome!

The Southerner

Hey southerner, that is also another good posibility, and have posted an alt count for a bullish bias, time will tell which one it chooses, nice point on the ma's,refer to page 2 for my alternative scenario posted saturday... mike

http://forexforums.dailyfx.com/attac...sysept5th2.jpg

Originally Posted by avkuvalekar

Thanks a lot Mike for that from me too.

Your welcome Avkuvalekar

Thanks Mike,

I hope your right looking to scalp up to 129 then sit and wait.

Cheer Mate