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EUR/USD
Member Since Apr 14, 2014
230 posts
Member Since Oct 11, 2013
775 posts
Member Since Oct 27, 2014
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Member Since Oct 08, 2011
137 posts
Nov 21, 2014 at 07:58
Member Since Oct 08, 2011
137 posts
EUR/USD - daily chart.
This pair traded out of the first consolidation into the next one - just a few pips higher and currently is on the 6th bar.
The 6th bar is the most difficult/dangerous to trade in a 10-bar consolidation. Historically, it has the tendency to break out and then trade back into the consolidation. Therefore it is important to manage the SL accordingly.
According to the price-bar formation rules, the highs from yesterday (plus 1 pip) and Wednesday (exact price) are both legitimate buy-stop entries
Targets:
near 1.2610
near 1.2662
near 1.2683
and near 1.2742
This pair traded out of the first consolidation into the next one - just a few pips higher and currently is on the 6th bar.
The 6th bar is the most difficult/dangerous to trade in a 10-bar consolidation. Historically, it has the tendency to break out and then trade back into the consolidation. Therefore it is important to manage the SL accordingly.
According to the price-bar formation rules, the highs from yesterday (plus 1 pip) and Wednesday (exact price) are both legitimate buy-stop entries
Targets:
near 1.2610
near 1.2662
near 1.2683
and near 1.2742
"a little bit of knowledge is a dangerous thing"
Member Since Oct 08, 2011
137 posts
Nov 21, 2014 at 08:01
Member Since Oct 08, 2011
137 posts
hcheemayy posted:
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?
Thanks.
Hi, I've been trading price bar formations for nearly 30 years. It is not all that difficult to understand, but it is not easy to remember all the rules - therefore it takes a lot of practice.
Plus, if you are used to looking at candlestick charts, you will have to retrain your eyes and work with OHLC bar-charts.
As far as I understand the rules of this forum, one is not allowed to post URL's here, as it is considered advertising, otherwise I would post some links.
"a little bit of knowledge is a dangerous thing"
Member Since Nov 11, 2012
271 posts
Nov 21, 2014 at 08:07
Member Since Nov 11, 2012
271 posts
PERPETUUMMOBILE posted:hcheemayy posted:
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?
Thanks.
Hi, I've been trading price bar formations for nearly 30 years. It is not all that difficult to understand, but it is not easy to remember all the rules - therefore it takes a lot of practice.
Plus, if you are used to looking at candlestick charts, you will have to retrain your eyes and work with OHLC bar-charts.
As far as I understand the rules of this forum, one is not allowed to post URL's here, as it is considered advertising, otherwise I would post some links.
Would you mind posting your long term trading history using the method you described. If you are using MT4 then hope it is not difficult to post a verified trading account here. Cheers.
antariks1@
Member Since Apr 08, 2014
1141 posts
Nov 21, 2014 at 08:30
Member Since Apr 08, 2014
1141 posts
EURUSD consolidated during the course of yesterday session, testing the 1.25 level for support. Ultimately if we can break down below the 1.25 level, we would be all bear coming in the market. A break down below the 1.25 level should send this pair to the next support level at 1.2350.
"I trade to make money not to be right."
Member Since Nov 03, 2014
37 posts
Member Since Jun 08, 2014
454 posts
Member Since Jul 10, 2014
1117 posts
Nov 21, 2014 at 16:25
Member Since Jul 10, 2014
1117 posts
EUR/USD did fall after all, despite my suspicions that the correction might last longer. That said, in order to be certain that it's not forming a double bottom it will have to break below the support around 1.2380 and below the previous low at 1.2350. If does that it will likely head for target 1.2200.
Nov 22, 2014 at 00:18
Member Since Apr 09, 2014
834 posts
victoriajensen posted:
EUR/USD did fall after all, despite my suspicions that the correction might last longer. That said, in order to be certain that it's not forming a double bottom it will have to break below the support around 1.2380 and below the previous low at 1.2350. If does that it will likely head for target 1.2200.
Good analysis, I fully agree with you.
Member Since Apr 14, 2014
230 posts
Member Since Oct 11, 2014
7 posts
Nov 22, 2014 at 08:30
Member Since Oct 11, 2014
7 posts
Next Monday, maybe we will get a gap down, slowly to the 1.2220, then, up a little, after that sharp down to about ~1.1700.
Then, a sharp correction to 1.2700 in about 2~4 weeks, 2 ~6 months, EUR/USD=1.0000~1.0300... ...
Anyway, this pair will go down to 1.0000...
After that,who knows!
Then, a sharp correction to 1.2700 in about 2~4 weeks, 2 ~6 months, EUR/USD=1.0000~1.0300... ...
Anyway, this pair will go down to 1.0000...
After that,who knows!
Member Since Jun 08, 2014
454 posts
Member Since Nov 11, 2012
271 posts
Nov 24, 2014 at 01:27
Member Since Nov 11, 2012
271 posts
We may see a green UP bar for today.
I have taken a small long position at 1.2365 which I will quit either at the end of the day or will hold for tomorrow depending upon how the day progresses.
Have a nice trading week ahead.
I have taken a small long position at 1.2365 which I will quit either at the end of the day or will hold for tomorrow depending upon how the day progresses.
Have a nice trading week ahead.
antariks1@
Member Since Apr 08, 2014
1141 posts
Nov 24, 2014 at 09:10
Member Since Apr 08, 2014
1141 posts
EURUSD fell sharply during the course of Friday’s session, testing the 1.2350 level. If the pair can break down below 1.2350 will head down to the 1.2050 level, which is a longer-term support. Ultimately bounces are selling opportunities as the US dollar should continue to be by far the safest currency in the world at the moment.
"I trade to make money not to be right."
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