EUR/USD

Now it's ranging but don't be fooled, this pair can go any direction from here.

peeterwoolf posted:
Now it's ranging but don't be fooled, this pair can go any direction from here.

That's why I'm staying sideline for now.

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.

Its alive :-)

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

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.

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.

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.

Now it seems clear to reach 1.2350 😄

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

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.

The ECB president said that 'It is unlikely a strong recovery in the coming months'
R3 - 1.26436
R2 - 1.26091
R1 - 1.25728
Daily Std. Pivot - 1.25383
S1 - 1.25020
S2 - 1.24675
S3 - 1.24312

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.

Yes, it seems getting closer to 1.22 the magic level everyone talks about.

marcopq posted:
Happy trading to all.

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!

Spackelspade posted:
Its alive :-)

Thanks a lot ,Mario.

let's not jump to conclusions until we see the opening of next week. have a great weekend everyone.

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.