The Purely Technical EUR/USD Trading Thread

[Gregory McLeod]

It's that Time Again Folks. Since we don't have Real time SSI, let's do the
LIGHTNING ROUND

Only tell us if you are Long, Flat or Short the Euro or another currency pair

No chart is needed and if you have a spare moment, tell us your entry price, stop and Limit.

This is just a real fun and fast posting!

Enjoy!

[asylum]

An 8 hour hammer has just formed, my simple take is a retest of hammer and then up to around 1.27

[Clivewaverider]

Ending diagonal on 240 min looks like 1.2463 more likely than uphill first, especially as perimeter just got repulsed. Short term chart suggest perhaps a little more consolidation first in an ascending triangle.

We shall see see.

[Clivewaverider]

It's that Time Again Folks. Since we don't have Real time SSI, let's do the
LIGHTNING ROUND

Only tell us if you are Long, Flat or Short the Euro or another currency pair

No chart is needed and if you have a spare moment, tell us your entry price, stop and Limit.

This is just a real fun and fast posting!

Enjoy!

Short to 1.2463 then long for wild ride up.

[Luxuriant]

Short to 1.2463 then long for wild ride up.

Short to 1.2460 then correction for ride down to 1.18 area

[Clivewaverider]

Short to 1.2460 then correction for ride down to 1.18 area

What we would all like to know of course, is how big the correction in the middle!? Good to see you here Luxuriant.

[Clivewaverider]

Possible EW count for wave 4 complex corrective (expanding flat) before final lunge into wave 5 or it could just be a simple zigzag and now 1-2 in play.

We shall see.

[Clivewaverider]

As ever, may have been a premature with the triangle perimeters. Have adjusted the storyboard in case anybody is too keen on a new high above the pivot. The stoch moms seem to be dealing with this well, so just I'll keep selling oversold/top edge until we get the downside break. Incoming centre of 240min Bolls maybe the natural target here - thick blue line.

[Luxuriant]

Please understand I am not a EWist or a CMWist (Clive My Waves) expert. I don't claim to be any kind of expert. Trading your plan has risk, trading someone else's plan could be even riskier. I am sure someone will want to post, and correct me on my labels, and thats fine. Just keep in mind this not the EW forum. But I am posting in the MY Wave area. LOL That being said. Clive I would hope we can agree that after a move like this from 1.3280 area. That it was a thing that traders dream about a Big W3 of a larger BEAR trend! I feel 5 of 3 could be ending. It did correct today (Thursday) in 3 small waves. Wicks showing high volume, and that it wants to move higher. BUT USD strength suppressed it. (US markets end of the day sell off) I think it wants to correct Friday. But is wave 5 done, or almost done. I am not sure about the relationships between waves 1 and 5. Normally 5 would be less than 1? But I put some rough PIP measurements.To lazy to do FIB measurements. To post like this, is like work. RSI says CORRECTION. I can not go long on a strong bear trend. So I most close, or ride out the coming wave 4. This is why I think in the months ahead we will see below 1.19 The end point of the bigger wave 4 should clarify the next move. I admire you, and others trading against the trend. Even though at times I shake my head at it LOL. I don't have the Kahuna's to do that. When I trade against the trend, I am to dumb to recognize it.

The correction in the middle? Lets see what forms up. USD strength is most troubling. USD/CHF. Bullish, but a correction seems near.
IF you look at the USD/RUB chart I am getting ready to post in my trading journal, it is headed to very strong resistance in the 1.32 area, and I expect a pull back.

Anyway I hope this helps someone.

Peace

[Clivewaverider]

Yep, we are in same place - I got my kahoonas handed to me on this one, so have been tweaking approach to avoid swimming against the tide. There is no point being right eventually but disheartened in between and I should have listened to Paul and others on that. Having said that, we are in unusual territory and it does not come around very often.

I agree with synopsis. I thought that wave 4 and 5 might end up being a 'smudge of a thing' in the weekend summary and it is getting very difficult to unpick the waves because of the 'ledges' holding matters up. I think we just had some sort of triangle in a complex correction in 4 and now a smaller 5 perhaps because of the grinding lower throughout the correction - but hey, it could be another washout.

I am playing for 1.2463 as per previous posts and as it stands at the moment, the 240min and daily trends are still down. I am still expecting a strong reversal when it comes but that thinking has been fueling the shorts for a while now!

[jogold18]

some diverg forming with a falling wedge....... move up would be nice.

[Clivewaverider]

From other thread - getting confused on where to write! Greg - do we need this this thread?


Feels like end of the 2nd wave (c after an abc) in the 5th - this descending triangle has come a long way not to spike out of the bottom of it.

1.2618 was yesterday's high and in Alejandro speak, market maybe just trying to get close to it to dump again in the 3rd of the 5th.

Just sayin in case anyone is too long and it is my turn to be right.

[asylum]

8hour hammer

An 8 hour hammer has just formed, my simple take is a retest of hammer and then up to around 1.27

first part worked out perfectly, now just needs to hold

[Clivewaverider]

first part worked out perfectly, now just needs to hold

Well done sir - did you want to add some charts? Just helps to see what you are doing.

[root-minus]

wedge at supply