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

I cashed my 3279 short (loner) at 3118 and now longs 3114 riding..
I'm long on eur 3114 .. 3108 break then 3207 followed by 3230 .. 3230 is ideal to sell now..
I'm long gu 6179
long gold 1636 and short DJ 13289...
banked most for quickies and leaving rest for a possible higher moves on them..

GL>.

30 mins and 4 hrs to go along..
9920-25 as indicated held out..
a break under 9890-95 signals a bigger fall coming on the USD.. A break higher to 9925 is well... USD to really shoot higher is what i see then...

GL..

Originally Posted by turmaz

this is what im talking "is way out of the way"

its just a sharing of my thoughts and experience, first the prices should come down to the consolidation zone then...


its tricky and take this just as a "crap" my experience says
we need to see 1.3110-12 once more 50/50
i m only letting out my emotions about the market with you ppl!
thank you

prices are inching towards the consolidation zone 1.3135-40 are they gonna take a support there or what?

The spiker move up is likely to be erased.
Currently bouncing off the lower BB20 and the 250EMA. Maybe to the BB20 midline then more down.

The weekly chart shows the price pretty much at the BB20 midline. The original expectation was for the price to tag the upper band and then reverse to head back down to tag the lower band.
But the CCI and SSD has already cross under their signal lines which is a sign of weakness. Tagging the lower band first is more likely at this point.

It never even got to the BB20 midline before dropping to another lower low. Watch out for downside acceleration.

Originally Posted by rcopadilla

The spiker move up is likely to be erased.
Currently bouncing off the lower BB20 and the 250EMA. Maybe to the BB20 midline then more down.

Originally Posted by rcopadilla

It never even got to the BB20 midline before dropping to another lower low. Watch out for downside acceleration.

my friend your charts are difficult to read too much lines and levels, is there any way you can simplify your charts so that i can see and learn from it
thanks!

The 15min SSD and MACD cross unders confirms the down cycle projected by the faster CCI and RSI indicators doing their cross unders. Any move up is likely to be faded.

Originally Posted by asylum

hello

Is there somewhere i can learn these waves are they elliot waves or something different, would be interested in maybe having a bash, thanks.

I don't know where you can read about "MyWave" but there is a educational material about Elliot Waves in DailyFX+ If you don't have live access you can apply for a demo version of DailyFX+ is you scroll down and look to the right of the DailyFX+

lets see if prices manages to come to the last consolidation area, but i have hitch in head for the 3110-12 number dont know why?

consolidation zone is between 3130-39

Originally Posted by jbiggart

sure, like me they are nice and simple. 1. only trade if there is a trend and only in that direction 2. enter on retrace at aprox 50% fib 3. stop above/below previous high/low 4. take the money at aprox 1.5 x risk 5. move stop to just above/below retrace when i'm confident the turn has been made. 6. leave until stopped or in the money. 7. don.t trade just before big news, too much panic & chaos.

aud / us had a couple of lower highs so i went short at 290 just below 50% fib initial stop at312 tp at 265. moved stop to 303 where i should have left it then moved to 295.

love your pip n run webinars, your strategy is too quick for me but i'm learning loads

This is good stuff Jbiggar! Thank you for sharing. I took the liberty to create a thread with your rules which are placed under Trading Strategies. I hope this is ok. Feel fee to add more to the thread if you wish. If you want me to remove the thread then let me know.

If anyone else wants to share your strategies then feel free to create a thread under the "Trading Strategies section". If this is not possible feel free to reach out to me or Greg. Here is the link to Jbiggar's rules of combat!

http://forexforums.dailyfx.com/tradi...ml#post1134460 (A trend following system)

Thank you
Alejandro

Originally Posted by turmaz

my friend your charts are difficult to read too much lines and levels, is there any way you can simplify your charts so that i can see and learn from it
thanks!

I know what you mean. When I look at some of Clivewaverider charts, my eyes go crosseyed.
Anyways, I removed some of the longerterm Bollinger bands.
All that is left is the core set of Bollinger Band 20 and Bollinger Band 60 and the 250EMA.
They are color coded per the legend. The BB20 upper and lower bands are blue, the midline is red.
The BB60 bands are purple with a blue midline.
Currently the price is approaching the BB20 midline again. The midline resistance will likely hold. Even if there is a spiker to the upper band, that spike will not last. The other timeframes are already ready to go down. This 5min is the only holdout and is going thru a weak upcycle. Once that finishes and the down cycle begins, all timeframes will then align to go to the downside.
I am used to the clutter on my charts because some of the info from that clutter is useful and because I focus mostly on what the Boll20 and Boll60 are doing on each timeframe.
Note that when the headfake bar occur, it was at the confluence of the lower bands of the BB20 and BB60.

Originally Posted by Alejandro Zambrano

This is good stuff Jbiggar! Thank you for sharing. I took the liberty to create a thread with your rules which are placed under Trading Strategies. I hope this is ok. Feel fee to add more to the thread if you wish. If you want me to remove the thread then let me know.

If anyone else wants to share your strategies then feel free to create a thread under the "Trading Strategies section". If this is not possible feel free to reach out to me or Greg. Here is the link to Jbiggar's rules of combat!

http://forexforums.dailyfx.com/tradi...ml#post1134460 (A trend following system)

Thank you
Alejandro

sounds good to me, only things i'd add is be aware of major support, resistance and fib lines on larger time scales. and maybe keep an eye on rsi divergence. but not so aware that you get a nervous twitch and never put a trade on. if you never loose a trade you are either not trading or you don't need to trade because you already know next weeks winning lottery numbers.
i'd love to take credit for the system but i believe people have been using it for decades sucessfully. probably can be improved but as its not broken i don't think i'm going to try and fix it and i certainly don't want to break it.

Originally Posted by jbiggart

sounds good to me, only things i'd add is be aware of major support, resistance and fib lines on larger time scales. and maybe keep an eye on rsi divergence. but not so aware that you get a nervous twitch and never put a trade on. if you never loose a trade you are either not trading or you don't need to trade because you already know next weeks winning lottery numbers.
i'd love to take credit for the system but i believe people have been using it for decades sucessfully. probably can be improved but as its not broken i don't think i'm going to try and fix it and i certainly don't want to break it.

oh, and if you find its not working you are probably in a range and have broken the first rule. a big thank you to eur/usd for teaching me that lesson the last few weeks

According to My "N" Wave the up trend should look the green line however if we resume a down trend it would look like the red line.