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

Originally Posted by jamilgaruty

i think it will be a nice call .... 2440 is a bullish support and buy orders clustered there but any break below that 2440 may open the door for next support at 2300 watch out, am long now, and lets see

yup - a break below and i'll go short on reload

EUR 30 mins did the trick all day long and just did a number at the supp as well...longs kicked in... still hedge against the 2630 shorts...
USD 4 hrs and if the break higher is coming can see losses on euro and others running deeper else we can expect a temp hold on to it and a retrace..

GL...

(Long term) trade consideration for an early entry EUR/USD Long

Chart pattern on the monthly chart: Three River Bottom

Trade length: 2 to 5 years

Target: 1.80

Invalidation 1.18

Originally Posted by jogold18

dont manage to head back up to 1.25 real soon (which does not look like it) i say 1.23 is next move with some minor supps 1.2410 and 1.2355..........

the bounce been good and what is nice, well a dream trade would be now this low to hold for a pull higher to 2580ish b4 possibly next sell off coming...
Will find out but first thing first 2484-86 to find good resis but heck i be scalping some longs out soon for others to sit around and will see how it goes in the EU session.. cashed out a short from 2630 as well at around this low..
looking for 5435-41 on GU to take some profit on it as well.. well I be sleeping and I hope the limits kicked in .. need a min 5441 touch on it for ASIA...
Still long on GOLD as well form 1582.X
GL..

The 1min chart shows the price action continuing to hug the lower BB300 (equivalent to the 15min lower BB20) until the dip to tag the lower BB600. The resulting bounce did not quite make it to the nominal 250EMA resistance. The lower BB1200 is continuing to drop as it proceeds to its meeting with the S1 level The price action is expected to join that party.

Originally Posted by bucket_shop

(Long term) trade consideration for an early entry EUR/USD Long

Chart pattern on the monthly chart: Three River Bottom

Trade length: 2 to 5 years

Target: 1.80

Invalidation 1.18

Trade length in years???
That holding period is not a trade. It is an investment which is a No Go for most of us. Do you actually hold a position for years?

Originally Posted by rcopadilla

Trade length in years???
That holding period is not a trade. It is an investment which is a No Go for most of us. Do you actually hold a position for years?

Yes indeed, this (long term) EUR/USD Long consideration doesn't reflect most trades. This monthly chart pattern took 4 years to develop. Its an early setup still needing more monthly candle closes. I posted it here for the primary purpose to watch a potential monthly pattern development. The fundamental contrarian case remains to be seen. This would be useful for multi-account holders or those looking for a potential position bias shift that could develop from a monthly pattern. Sometimes its practicable to look at the bigger picture as well to get a sense of how prices reach a certain level regardless of a traders timeframe.

Question.

I have been back testing a formula on the 2H chart for a little while now. I can tell you the lease amount of pips the EUR/USD and others will move 3 to 4 times a day. Now It might take 1 or 2 candles to get there but it will and some times you can even get more than it says. It is right about 95% of the time. The problem I am having is that I can't tell you if its going to go up or down, but it will get there. Now this is not me just guessing. Sometime it will hit the number of pips the the formula tells me and then turns the other way.

So, My question is if I can tell you how many pips it will move can anyone tell me which direction it is going to go?

Starting tonight or tomorrow I will putting this predictions on twitter @roverstreet74 if any one wants to test it with me. (disclaimer) Now I am not tell any one to or not to trade my predictions I just asking for some one to help me test it.

I've had this for a while. Not sure if it would pan out.

Originally Posted by rcopadilla

The price action has been flatlining for hours after finding support just below the Pivot area. The 15min upper band has dropped and has formed a trading channel with the lower band. The next catalyst for a bigger move down is probably when the price retags the upper band.

The price action is closing in on the dropping 15min upper BB20. The bands are narrowing. The other indicators have moved out of their respective oversold zones and are now approaching overbought zone. This is a nice developing countermove setup for the next strong real move down.

Expanding..... Heres what i see. Im long, stops below this candle. Its obeying the TL well here. Look at my arrows for possible price action. Im bias long until the TL that Lux Pointed out earlier has a clean break. I thought maybe this was an exhaustion gap, and it still could be, but notice that when GU filled finally the market turned. Just some things to think about.

Originally Posted by rcopadilla

The price action is closing in on the dropping 15min upper BB20. The bands are narrowing. The other indicators have moved out of their respective oversold zones and are now approaching overbought zone. This is a nice developing countermove setup for the next strong real move down.

15min upper BB20 has been tagged. The price action had a bigger than normal bar which typically marks reversals. Core indicators are overbought and are starting to reverse. Looks like the real thing.

Originally Posted by rcopadilla

15min upper BB20 has been tagged. The price action had a bigger than normal bar which typically marks reversals. Core indicators are overbought and are starting to reverse. Looks like the real thing.

1min chart
Lower High, Lower Low adds credibility to the pullback to the lower 15min BB20. And More.

Originally Posted by Randy0

Question.

I have been back testing a formula on the 2H chart for a little while now. I can tell you the lease amount of pips the EUR/USD and others will move 3 to 4 times a day. Now It might take 1 or 2 candles to get there but it will and some times you can even get more than it says. It is right about 95% of the time. The problem I am having is that I can't tell you if its going to go up or down, but it will get there. Now this is not me just guessing. Sometime it will hit the number of pips the the formula tells me and then turns the other way.

So, My question is if I can tell you how many pips it will move can anyone tell me which direction it is going to go?

Starting tonight or tomorrow I will putting this predictions on twitter @roverstreet74 if any one wants to test it with me. (disclaimer) Now I am not tell any one to or not to trade my predictions I just asking for some one to help me test it.

Always interested in a new idea.

Another reason Im bullish until TL breaks. Daily candle has me targeting 1.2640.