We are currently at the monthly pivot point, daily 20 SMA and August 2010 low. I don't think that much will happen today anymore. If EUR/USD is able to hold the current support these days (possible bull flag on daily) then we could have some follow through of Fridays strong candle. If market is falling below the support level then more downside is likely (possible bear flag on the hourly/4 hour chart, consolidation at support (respecting) before resuming the down trend). The hourly low of 1.2553 might be the first downside target whereby the 20 SMA on the 4-hour chart could provide some support/ No trade recommendation.
i opened another long for a swing trade at the bottom of this move down. currently got 2 open positions 1.2590 first 1.2575 second. got both stops by 1.2550.
i have short orders in place lower down.
we continue to find support above the 200MA with out crashing passed it, i like to see weekly R1 get hit (1.2690)
a break lower i think will get the shorts rolling down to 1.2470.
got support kicking in, if we break lower we could be in for a surprize and price could head back down towards 1.2380.
also what scares me is the way price is setting it self up on 5 min, looks like a typical sell like i got a few times in the day when i looked back. to bad i was away
missed on shorts on the way down. im sure some made some nice pips shorting
im away most of the day, so sorry if i copy someone who has already posted but triangle gearing up. with it, (i know this is wired, but it helps me see where momentum is, can you?) try and have an imaginary ball rolling down a slide. as long as the slide is pointing down, the ball will keep falling.
i have longs cuz im thinking we will bounce up from the 34MA low towards the high.
Since May 2000 there have been 25 times when - as on Friday - EUR/USD has rallied by 1.75% or more against the previous day's close. Of the 25, only 1 went on to close the next day more than 110 pips below where EUR/USD started the session. The equivalent level on Monday is 1.2570.
WOW, It took a century to shoot up, glad that re-entered and hold it overnight
Originally Posted by MAXJOY
Spot on... I also saw it and the lack of follow trough and closed flat, now I'm glad as it dropped down
Originally Posted by Fx(MIA)
Ready Get setttttttt Go!!!!
Originally Posted by TAfool
How about a touch bit more? Once reversed, 2811ish
That triangle looks like this up close:
LPI is still in bias long mode
Originally Posted by jogold18
i opened another long for a swing trade at the bottom of this move down. currently got 2 open positions 1.2590 first 1.2575 second. got both stops by 1.2550.
i have short orders in place lower down.
we continue to find support above the 200MA with out crashing passed it, i like to see weekly R1 get hit (1.2690)
a break lower i think will get the shorts rolling down to 1.2470.
got support kicking in, if we break lower we could be in for a surprize and price could head back down towards 1.2380.
also what scares me is the way price is setting it self up on 5 min, looks like a typical sell like i got a few times in the day when i looked back. to bad i was away
missed on shorts on the way down. im sure some made some nice pips shorting
i opened another long for a swing trade at the bottom of this move down. currently got 2 open positions 1.2590 first 1.2575 second. got both stops by 1.2550.
i have short orders in place lower down.
we continue to find support above the 200MA with out crashing passed it, i like to see weekly R1 get hit (1.2690)
a break lower i think will get the shorts rolling down to 1.2470.
got support kicking in, if we break lower we could be in for a surprize and price could head back down towards 1.2380.
also what scares me is the way price is setting it self up on 5 min, looks like a typical sell like i got a few times in the day when i looked back. to bad i was away
missed on shorts on the way down. im sure some made some nice pips shorting
GL. l
2582 holds out u r golden.. IF holds should be testing 2660-63....
Main supp still at 2574.... and 2540 under to it is confirmation of a breakout...
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...
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Reply With Quote
Originally Posted by MAXJOY 
