EUR/USD is moving to the upside again after it failed to break below the support at 1.0710. The pair will likely reach the resistance at 1.0900, and if it breaks above that level then it will probably climb to 1.1000.
The euro registered a successful session against the dollar on Thursday. The single currency justified the positive expectations and continued its bullish movement, which began on Wednesday. If the bulls keep their intensity, resistance at 1.1003 will be overcome soon. The session started at a price of 1.0779, as bull prevailed. Peak of the day was reached at 1.0939 and session closed with only 10 pips below.
On yesterday session the EURUSD rallied with a wide range and closed in the green near the high of the day, in addition managed to close above previous day high, suggesting a strong bullish momentum.
The pair closed above the 10 and 50-day moving average that is acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1052 (resistance), previous swing high at 1.0992 (resistance), 10-day moving average at 1.0870 (support), the 1.0819 (support) and the 50-day moving average at 1.0807 (support).
Once again the reaction to the NFP was quite disappointing, at least for me. There was only a whipsaw. EUR/USD reached the support at 1.0800 and bounced off of it. I doubt it will break above 1.1000 before next week.
victoriajensen posted: Once again the reaction to the NFP was quite disappointing, at least for me. There was only a whipsaw. EUR/USD reached the support at 1.0800 and bounced off of it. I doubt it will break above 1.1000 before next week.
The only way to trade numbers is with a straddle and close out on the first bounce.
Last night was a great setup for trading expansion volume on the pair (daily). This is now happening and I am just folowing the atr of 2 as a stop loss (h chart). Anybody else trading this method thoday?
I do not forecast markets, nor do I predict trend directions. I read price-bar formations which give entry signals when they are present. There are major and minor entry signals which determine the risk to be taken on a trade (lot size) as well as how the SL is to be managed.
Monthly chart: Of the last 4 price bars, 3 consecutive bars were in the same (down) trend (open was higher than close price) The most recent finished bar (December) points in the opposite direction, therefore is a trend reversal (open low and close price is higher). the December bar is also an outside bar (lower low and higher high than the preceding (November) bar. The rule: if there are at least 3 bars in the same trend (in this case open high close low) followed by a reversal bar, the high of the reversal bar (in this scenario) is a MINOR entry signal. Place a buy-stop entry 1 pip above the high (ASK price) of the December bar. Place the SL at least 4 pips below the low of the same bar. Place the TP below the 1st reverse-hook, which on your chart is 1.1494 The current bar is Nr. 11 in consolidation which started with the March bar of last year. All following bars since March have either the open or the close (or both) INSIDE the high and low of the March bar. A consolidation can not contain more than 10 bars, meaning that Nr. 11 is the last bar that can be traded / according to the rules.
Weekly chart: The weekly chart shows a price consolidation with currently 6 bars. As I have written before, the 6th bar in consolidation is the most difficult to trade and should be avoided. There are 3 legitimate MAJOR entry signals visible. Buy-stop at the high from last week (1.0991 on our chart) plus 1 pip (ASK price) Buy-stop at the high from 3 weeks ago (1.1058 on our chart) plus 1 pip (ASK price)
The low of 5 weeks ago is also a legitimate MAJOR entry signal as it is a down-hook. (1.0515 minus 1 pip BID price)
Daily chart: The daily chart is in a trading range with the current bar being Nr. 24 The long bar that was formed on Dec. 3rd is the measuring bar (MB), because all following bars have either the open or close price (or both) inside the high and low of the MB. Trading out of a range is done by counting 3 sections, which usually start with a double/top or double bottom. In this case, there is only 1 double/top that is followed by 3 sections, which makes the low of Tuesday (1.0709 minus 1 pip BID price) a legitimate MAJOR entry signal. If prices do not break through this low, then there should be buy-stop entries formed in the next few days which I will post when they are completed. In the meantime, the entries from the weekly charts can be traded, which will be very similar to what could possibly be traded on the daily charts.
All price bar formation rules are valid in all timeframes. Take a close look at consolidations, congestions and trading ranges on intraday charts, like the 30 or 60 minute charts or even the 5 minute charts. You will find that the same formations occur on these time frames as well. Trade what you see on the charts and NOT what you (or others) think. If you strictly follow these rules you will realize that trading can be made quite easy. ,,,,,,
Exactly! it formed a digonal tiangle for wave 1, the wave 2 and now euro is just heading up.
고위험 경고: 외환 거래는 모든 투자자에게 적합하지 않을 수 있는 높은 수준의 위험을 수반합니다.
레버리지는 추가적인 위험 및 손실 노출을 만듭니다. 외환 거래를 결정하기 전에 투자 목표, 경험 수준 및 위험 허용 오차를 신중하게 고려하십시오.
초기 투자의 일부 또는 전부를 잃을 수 있습니다. 잃을 여유가 없는 돈을 투자하지 마십시오. 외환 거래와 관련된 위험에 대해 스스로 교육하고 궁금한 점이 있으면 독립 금융 또는 세무사에게 조언을 구하십시오.
모든 데이터 및 정보는 정보 제공 목적으로만 있는 그대로 제공되며 거래 목적이나 조언을 위한 것이 아닙니다.
과거의 성과는 미래의 결과를 나타내는 것이 아닙니다.