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Aug 07 2014 at 06:44
136 posts
I have mentioned a 'hanger bar' before in my postings on the weekly chart (1.3345) which was closed yesterday. It was a perfect exit for the 4-week trade (4 price-bars) coming from the ledge entry (sell) @ 1.3574.
Learn how to read chart patterns and start 'acting' instead of waiting for media news and just 'react' to their price manipulations, which are only designed to run the stops of intra-day chart traders.
Price actions during news announcements may look exciting on the 1-min and 5-min charts, but have no impact whatsoever on the long-term charts. They cannot be seen.
Statistics show that nearly 97% of all intra-day chart traders lose their money at the end of their time. They are the perfect pray for the market-makers and operators. Market-makers know our emotions better than we do - mainly our greed and our fears.

"a little bit of knowledge is a dangerous thing"
Hugo ONeill (honeill)
Aug 07 2014 at 08:37
1141 posts
Yesterday investors were quick to dump the euro, driving the currency to new lows at 1.33326, but then erased all of its losses to trade back up closing at 1.33832 and form a hammer pattern and a bullish divergence.

Today we have the release of ECB interest rate decision and monetary policy. The interest rate is expected to stay unchanged and ECB may loosen even more the monetary policy.

"I trade to make money not to be right."
felix (ifyforex)
Aug 07 2014 at 12:41
33 posts
Hugo O'Nell you are right ECB is one of the big indicator that move the market over 3 weeks euro have been weak i am sure draghi must do something today to change the weak of euro

Aug 07 2014 at 12:56
413 posts
And if Draghi did nothing then the EURUSD will test the 1.33 support ;)

Aug 07 2014 at 14:27
104 posts
EURUSD has been beat up for long long times .
It will go up soon or at least big correction soon .But the question is how much lower it can go or how much lower traders can handle it .
Now money management play important role for traders .
Good luck .

Aug 07 2014 at 17:54
372 posts
EURUSD Analysis leads to a medium and long-term bearish setups.
But the bullish momentum divergence (RSI) has continued to grow on the 4h charts with the latest drop.
This drop also failed to clear a new daily low under yesterday’s low of 1.3332.
 There is an increased risk of a bullish correction here though we will not be getting long quite yet as the dominant trend (bearish) is still valid.
Just a break above 1.3400 (mixed-trend), and above 1.3450 could turn the short-term trend to bullish.

Aug 07 2014 at 19:52
454 posts
are we going to see a second hammer on the price by the end of today's trading ?

Aug 07 2014 at 23:11
774 posts
Not much from the European Central Bank, but the Euro remains weak.

Aug 08 2014 at 07:39
413 posts
Hi guys,
I thank the eurusd is going down today following the daily pattern of the week.

Hugo ONeill (honeill)
Aug 08 2014 at 07:49
1141 posts
EURUSD initially fell during yesterday session, but found support at roughly the same place it did during the Wednesday session and it means that EURUSD is ready to bounce. The pair will more than likely head to the 1.3450 level, and possibly even as high as the 1.3500. Expect significant selling pressure up in that region though, so this is a short-term buying opportunity at best.

"I trade to make money not to be right."
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