EUR/USD
Miembro desde Apr 14, 2014
posts 230
Nov 21, 2014 at 00:07
Now it's ranging but don't be fooled, this pair can go any direction from here.
Miembro desde Oct 11, 2013
posts 775
Nov 21, 2014 at 02:05
The Euro vs the Dollar may end up the week unchanged, but it remains weak over all. Next week's fundamentals could be key for the EURUSD.
Miembro desde Oct 27, 2014
posts 53
Nov 21, 2014 at 07:54
Its alive :-)
Miembro desde Oct 08, 2011
posts 137
Nov 21, 2014 at 07:58
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"
Miembro desde Oct 08, 2011
posts 137
Nov 21, 2014 at 08:01
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"
Miembro desde Nov 11, 2012
posts 271
Nov 21, 2014 at 08:07
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@
Miembro desde Apr 08, 2014
posts 1141
Nov 21, 2014 at 08:30
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."
Miembro desde Nov 03, 2014
posts 37
Nov 21, 2014 at 11:26
Now it seems clear to reach 1.2350 😄
Yes! with the right skill....its possible to make 40% a day in Forex.
Miembro desde Jun 08, 2014
posts 454
Nov 21, 2014 at 12:58
I hit the stop I was targeting 1.2620 and ECB came today to turn the table. I should have closed the position. but this is the market it's not always win win
Miembro desde Jul 10, 2014
posts 1117
Nov 21, 2014 at 16:25
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
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.
Miembro desde Apr 14, 2014
posts 230
Nov 22, 2014 at 00:39
Yes, it seems getting closer to 1.22 the magic level everyone talks about.
Miembro desde Oct 11, 2014
posts 7
Nov 22, 2014 at 08:30
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!
Miembro desde Jun 08, 2014
posts 454
Nov 22, 2014 at 15:11
let's not jump to conclusions until we see the opening of next week. have a great weekend everyone.
Miembro desde Nov 11, 2012
posts 271
Nov 24, 2014 at 01:27
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@
Miembro desde Apr 08, 2014
posts 1141
Nov 24, 2014 at 09:10
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."
