The Purely Technical EUR/USD Trading Thread

[Clivewaverider]

Here is what I am looking for.

Attachment 129857

I am looking at my 4hr stochmoms and they seem to be agreeing with you - in C wave of the wave 4 (of 5 of 3?). Perhaps R1-R2 a good zone to look for a trendline break and bolly bounce.

[Clivewaverider]

Short closed at breakeven following rejection of daily pivot but then seemingly held up by 2day Hull and failing to reach the Bollinger bands again - 2nd time. Will enter long on break of downtrend line to right of price action with stop behind the line and to break even on reaching trend line above. Target now top bolly band where weekly pivot (1.2611) and monthly S3 (1.2640) sit for now.

If the Hull turns gold (for up) we should have a retracement in play and I will be looking to play bounces back and forth to this 2 day Hull MA and the 2hr Bolly band, whilst counting those MyWaves again.

[Clivewaverider]

Eventually!

Managed to get an elegant entry here - have marked out entry and stop. Would have preferred lower into the bolly band but looks like down trend weakening and the 2day Hull held firm. Will try and follow a trend line up into top bolly band now and see where we get to. Looking for an 'elegant exit' up there too but will see how my trigger finger acts out.

[Luxuriant]

Clive I closed out at 1.2462. Can't go long. Will look to go short near 1.28, or after I see an ABC move. Unless I see something else happening. But expecting 3 wave move up. Peace Bro.

Edit: Don't tell me to post a chart LOL. I posted one a few days ago. LOL

[Clivewaverider]

Clive I closed out at 1.2462. Can't go long. Will look to go short near 1.28, or after I see an ABC move. Unless I see something else happening. But expecting 3 wave move up. Peace Bro.

Edit: Don't tell me to post a chart LOL. I posted one a few days ago. LOL

I got whipsawed today for nothing - especially miserable given I got the numbers right! Well done you sir and see you up at 1.2800 ish.

[captester]

the chart speaks upon its own behalf plus what I typed on it

[jamilgaruty]

THINGS ARE GETTING SERIOUS HERE WATCH THE 2480 LEVEL, LATER

JAMIL GARUTY...
JORDAN-AMMAN

[Rasputin]

The Bulls got to have some really big balls now. Might get some retracement, but with all this news pointing toward continuation of bearish trend, may not be worth the risk.

[Alejandro Zambrano]

Even if have not posted here until know I read your stuff - Good to see that its so lively here keep it up.

[Luxuriant]

Clive I have been trading other pairs with good luck for now. I have watched the Euro fall another 100 pips after closing short at 1.2462. I have formed a new Euro trading plan. I have thrown the Euro chart in the trash can. Because everything says correction, and oversold. But no correction. I call it my Robert Eckect plan!

With no solution to the Euro land problem. Euro spikes on rumors of a solution. Those are selling areas. With a confirmed solution, thats a buy. Looking for 1.20 Bro. Sell the rumors, buy the fact of one. Good luck.

[Clivewaverider]

Clive I have been trading other pairs with good luck for now. I have watched the Euro fall another 100 pips after closing short at 1.2462. I have formed a new Euro trading plan. I have thrown the Euro chart in the trash can. Because everything says correction, and oversold. But no correction. I call it my Robert Eckect plan!

With no solution to the Euro land problem. Euro spikes on rumors of a solution. Those are selling areas. With a confirmed solution, thats a buy. Looking for 1.20 Bro. Sell the rumors, buy the fact of one. Good luck.

I been playing with the charts too - one thing about moves like this, is it helps to stress test the approaches we use.

I attach a weekly chart. The yellow SMA is the monthly 200 - it is lingering around that 1.1911 mark, along with the next rung down on the all time high pivot/gann ladder. We are so close now, me thinks that leaving this unchecked before a reaction up, would be wasted energy and we are already pushing the monthly blue bollingers. The daily and weekly 200sma are already above the wave and providing no support now. My equity charts all look like a waterfall moment is possible (I posted these on the stocks forum at weekend) which would add to the weight of another push down.

[Robert Eckert]

Clive I have been trading other pairs with good luck for now. I have watched the Euro fall another 100 pips after closing short at 1.2462. I have formed a new Euro trading plan. I have thrown the Euro chart in the trash can. Because everything says correction, and oversold. But no correction. I call it my Robert Eckect plan!

With no solution to the Euro land problem. Euro spikes on rumors of a solution. Those are selling areas. With a confirmed solution, thats a buy. Looking for 1.20 Bro. Sell the rumors, buy the fact of one. Good luck.

Thanks for the shoutout
Do remember though that I am only bearish above ~1.225, consider the range ~1.111-1.225 to be long-term sustainable, and would actually turn bullish (shocker, I know) if it drops down below there. You make the third (after Paul Chin and then Franosh) to say that the charts are just not right for this pair lately. I have gotten somewhat better at deciding when to get in and when to get out, as regards other currencies, but EUR/USD I keep kicking myself for closing out shorts just before drops and getting back in when it is about to start one of its updrafts; the patterns are very hard to read and I'm glad to know it's not just me being stupid. For what it is worth, I am short as a midget's weenie in ice water right now (and 20 pips to the bad at the moment, but we'll see).

[Luxuriant]

Draghi has been speaking. He just stated the ECB Can NOT fund the governments. Short at 1.24003 No stop but will probably close above 1.2425 No guts. LOL

Edit: Draghi is completely negative with further comments.

[Sarah Muchuku]

I like your trading ideas but throwing Euro chat to trash will not do you any good continue selling till you are put-out by your stop-loss good trading dear.E marketing in Kenya

Clive I have been trading other pairs with good luck for now. I have watched the Euro fall another 100 pips after closing short at 1.2462. I have formed a new Euro trading plan. I have thrown the Euro chart in the trash can. Because everything says correction, and oversold. But no correction. I call it my Robert Eckect plan!

With no solution to the Euro land problem. Euro spikes on rumors of a solution. Those are selling areas. With a confirmed solution, thats a buy. Looking for 1.20 Bro. Sell the rumors, buy the fact of one. Good luck.

[Clivewaverider]

Trading screens: today's shorts entered.

I am really trying to find 'elegant entries' rather than my old 'fading' approach, which is forcing me to really think about timing as well as price.

Short term screen shows 5min 'wave' rolling over and providing a tightish entry with stop above high. I could have entered higher, based on the previous consolidation zones (R1), with stops above them, but we were not close enough for that. We were also rolling over on the daily pivot (H+L+C/3 version) and at the 2hr bollinger median (20SMA).

However, we were looking only for shorts as the 2day Hull is pink (for down) and price is still underneath it; we are trading within a 240min 'wave' (blue) that is down and the retrace in the 15min chart is quite clear to see. In addition the stoch moms topped out and we only take these signals in a retrace to trend - trend down, sell overbought stochs.

I cannot do anymore I think but sit back and try and spot a bottom, but visually this should be wheen the 5min wave rolls over to the upside.

Catch up later.