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Nov 18 2014 at 23:42
58 posts
With positive news from the euro zone, at least try to keep up, but still skinny. Somewhere has to start. Always remember the good (r: r) and what the market tells us, for us short-term traders. Happy trading.


Nov 19 2014 at 00:22
230 posts
At the moment, ranging from 1.2500 to 1.2540, let's see how long the consolidation would last.

Nov 19 2014 at 07:39
16 posts
On October 8th I posted a major entry signal coming from the daily chart:
Buy-stop: 1.2508
Exit-1: near 1.2570
Exit-2: near 1.2620
Exit-3: near 1.2740
Exit 1: mission accomplished

Good call.

I see the price action has come up to above 1.2500 with bullish momentum firing up. So ride the wave up. As long as the 4HR bar does not close below the 50 period MA, may see 1.2700 pretty soon.

There is nothing lost or wasted in this life
honeill (honeill)
Nov 19 2014 at 07:59
1141 posts
The EURUSD rose during the course of yesterday session, clearing the 1.25 level with an impulsive candle. This pair continues to consolidate around the 1.25level. We are looking for reversal candles in order to start selling again as the Euro continues to underperform.

"I trade to make money not to be right."
Nov 19 2014 at 09:12
136 posts
The 4-hr chart is in congestion with currently 17 bars.
Since bar 17 is the first one to trade out of congestion, the high of 1.2544 is a legitimate buy-stop entry

bars 5 to 10 = consolidation
bars 11 to 20 = congestion
bars 21 and more = trading range.

historically a bar between 21 and 29 has the best chance to break.

There are precise rules as to how to trade out of consolidation, congestion and trading range.

"a little bit of knowledge is a dangerous thing"
Nov 19 2014 at 11:07
3 posts
Hi Perpetuummobile
You seem to have a lot of experience/knowledge about this trading methodology.
If possible, could you please share any documentation/URL's to learn about this further?

Nov 19 2014 at 17:44
1117 posts
It looks like the EUR/USD correction might last a little longer. It appears it is headed for target 1.2670.

takechance (takechance)
Nov 19 2014 at 20:40
271 posts
Next upside target is 1.2606 and then 1.2635.

Very strong support around 1.2460

Nov 19 2014 at 21:12
372 posts
EUR / USD remains below the moving average of 50 periods and within the training symmetrical triangle.
There have been some attempts to break the short-term trend line, but not enough.
R3 - 1.26782
R2 - 1.26385
R1 - 1.25913
Daily Std. Pivot - 1.25516
S1 - 1.25044
S2 - 1.24647
S3 - 1.24175

Nov 19 2014 at 21:44
834 posts
FED is also worried about low inflation, according to the latest FOMC Minutes. The dollar suffered a setback immediate after the FOMC, decline against the EUR to 1.2599. It seems settle down at 1.2550 level, but it's not over yet, bullish potential remains.

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