Please let my know what you think about this ? I think that we have once more above.
See the 4h chart attached, we have a long term down channel and a short term up channel.
I favor the short channel down to around 1.2450 in the near term as previously noted by me and than a move towards the 1.2789 area.
From there I will have to re-evaluate the moves.
Good luck and these are just my personal views not a suggestion to trade.
Please let my know what you think about this ? I think that we have once more above.
Not in Asian session anyway. It is remarkably sluggish: nobody wants to buy euros, or dollars US Canada Australia or NZ, or yen, or anything. Everything is sitting in a few-pip range for hours.
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Not in Asian session anyway. It is remarkably sluggish: nobody wants to buy euros, or dollars US Canada Australia or NZ, or yen, or anything. Everything is sitting in a few-pip range for hours.
Please watch the EURJPY is up around 60 pips in asian session today....
Not in Asian session anyway. It is remarkably sluggish: nobody wants to buy euros, or dollars US Canada Australia or NZ, or yen, or anything. Everything is sitting in a few-pip range for hours.
Perhaps today we see a bounce to 1.2594-1.2625 levels. I think at these levels is a good opportunity for short entry with the first goal to 1.2500-1.2490 level where is the support of the rising speed line (low 1-6-12/high 18-6-12). A breakout will lead EUR/USD to 1.2427. Great attention to the level of 1.2625, a breakout will lead EUR/USD to the first resistance of the descending speed line (high 30-4-12/low 1-6-12) at 1.2684-92 . A breakout will take us to the second speed line resistance at 1.2738-45.
The short term trend is a correction of the longer term trend o.k. and yesterdays move was a correction of the correction great ! now I just done a fib that shows a 50% correction of the correction of the correction has resistance at 1.2635 break above that and we may re test the highs or beyond. The best hope is support from the 20 day ma just above yesterdays low at 1.2530 below that and I turn in to a bear.
The short term trend is a correction of the longer term trend o.k. and yesterdays move was a correction of the correction great ! now I just done a fib that shows a 50% correction of the correction of the correction has resistance at 1.2635 break above that and we may re test the highs or beyond. The best hope is support from the 20 day ma just above yesterdays low at 1.2530 below that and I turn in to a bear.
i think bulls have run out off steam and anyone trying to long will get hurt. thats just my kind opinion. any pull back i would be shorting.
i think the bounce from the 200ma together with the break of the trend line lowe is confirmed and will keep pressure to the down side. unless we get kinda of a "V" formation back above the break will get a little worried. i miss the short that came about an hour ago, but will be shorting on 1, 5min time frames....
yesterday i was all mixed as to what the heck it will do since i really thought it would break above the pivot and head higher, and i kept thinking that even as it was going down, way down. i got burned since i did not keep to my system that told me to short since we below the pivot. any "gut" feeling you have that you trade based on it will get u burnt like i got burned.
ganna keep to it today and since we below the daily pivot, (and weekly) i say strong shorttttttttt.
and im doing just that.
conclusion i got is, keep to your system with tons of discipline
GL
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Originally Posted by danko316 
i say strong shorttttttttt.
