Price has been range trading for the last 24 hours but price now looks ready to leave this range and trade to 1.2575 as long as we trade above the 1.2440 low. A move to 1.2775 would also confirm our overall bias that we will trade to 1.2650 over the next few sessions – we are very well aware that Greece will have elections this weekend but it still remains two trading day until traders need to reduce their risk.
We have two lows to work with if we want to trade this short term bullish setup – either traders will place stop loss orders below 1.2470 or 1.2430/40. As the overall trend is not strong it makes more sense to use 1.2330 low to avoid getting stopped by random noise.
If you can any questions about this scenario or anything else trading related feel free to write to me here on the forum.
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EUR/USD 60 min chart
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Today's GBP/USD outlook is now uploaded - if you never visited the other threads then I can strongly recommend you this as you will be exposed to several other markets that might be better to trade than EUR/USD.
It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change – Charles Darwin
Today's GBP/USD outlook is now uploaded - if you never visited the other threads then I can strongly recommend you this as you will be exposed to several other markets that might be better to trade than EUR/USD.
It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change – Charles Darwin
Got me longs off the desired lvl and now turning to this 2 hrs chart which I preferred for 3 step play-out.
Initial tgt 2510-15 and if can attain a break higher have a chance for a 2548-51 play.. A clean break higher and mid 2580ish.. Above to it we have a bull drive..
2550 is critical lvl as it seems for today and can spot an early warning sign on failure.. Offcourse first thing first we need to break the high to get to it..
and offcourse some down movement on USD would be a comfort spot to sit on the longs for some decent gains...
GL...
half battle done.. GU hit 5592-95 I was watching. shed off the bulk and hedges on euro / gu and wating on aud to be short as well..
2478 to 2548-51 is done.. A clean break higher and 2577-83 is on the cards.. GU a break higher shows 5690ish...
Actual lvl on euro higher to the 2550-55 comes in at 2590 as per the 2 hrs chart..
GL...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Price moved as expected....
one looner long still holdin from 2509 the neckline breakout on double bottom.
as long as neckline holds i expect a move up to 2575 or R2
n 2600 is the exact target for this double bottom chart pattern,
Congrats to those who picked this trade n got some nice pips...
Did a layout on GOLD section yesterday.. esp the 4 hrs still valid.. a move higher to 1620 today surely puts gold on bullish stance.. and my channel tgt is around to 1665 as well.........
GL..
retail sales to disappoint @ 1:30! need to pay for my holidays
The pattern in Eurusd has continued, where Asia takes us lower initially only to reverse in London and take out the short term stop losses. The 1.2530 break overnight triggered stop losses through 1.2550, as peripheral yields in Europe have fallen from yesterday's extreme levels. Equities are slightly lower though, so I am not entirely sure I would consider this a risk on environment just yet. 1.2530 should be short term support followed by 1.2470 and then 1.2435, which is the 61.8% Fib of the 1.2288/1.2672 range. On the topside, watch 1.2570 and then 1.2650. I think we still remain range bound for the time being.
Syriza leader Tsipras published an editorial in the Financial Times. The piece
is titled “I will keep Greece in the euro zone and restore growth”, and in it the
politician provides a number of carefully worded pro-euro zone statements, while
at the same time restating his commitment to renegotiating the second bailout, in
the event of a Syriza victory on Sunday. Regardless of the comments, we believe
markets are still likely to view a Syriza victory as elevating exit risk and a
significant risk negative in next week's elections
do you ever apply fibs to time? Can you do an estimate with current EURUSD uptrend playing out vs resuming LT down?
On webinar you mentioned Gann and Lunar cycles and Howdy on the forums ... so here I am
be careful holding a bias in the FX market, it tends to cloud what you see and you try too hard to look for the bias you hold in the charts. Too many here hold a short bias in this pair. Better to have none and see the charts with an open mind.
Can you do an estimate with current EURUSD uptrend playing out vs resuming LT down?
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Originally Posted by Alejandro Zambrano 
