- Joined
- 18 June 2008
- Posts
- 1,071
- Reactions
- 2
EURUSD....Euro
- Thread starter MARKETWAVES
- Start date
- Joined
- 17 January 2007
- Posts
- 2,986
- Reactions
- 32
What's a contraian??
- Joined
- 18 June 2008
- Posts
- 1,071
- Reactions
- 2
Hi all,
Im new to this forum; good to see some Euro discussion. Do any of you trade just plain S/R levels - no other indicators?
For me, the 1.4100 level seems pretty strong. I am looking to buy from there. Let see
Yes pretty much all my trading is from S/R levels, I use volume as well (helps me figure out future S/R levels). Other things I use are the DOM and the time and sales window.
- Joined
- 12 May 2008
- Posts
- 499
- Reactions
- 7
new to Fx and not finding as many opportunities recently
are the Fx'ers out there finding the markets to have slowed somewhat? or are present conditions, standard Fx market behaviour?
perhaps Euro/US holiday season!
thanks
are the Fx'ers out there finding the markets to have slowed somewhat? or are present conditions, standard Fx market behaviour?
perhaps Euro/US holiday season!
thanks
- Joined
- 6 December 2007
- Posts
- 436
- Reactions
- 0
There has been a bit of range bound trading on many currencies but recently there have been some reasonable moves in many.
For example the EURUSD was down about 350 pips in 4 days.
GBPUSD down about 550 pips, USDCAD up 400+ etc etc
It might depend on what TF you are trading and what session you trade as to opportunities presented.
I trade more medium term TF and play around with a few smaller trades during the London and US sessions as Asian trading is very slow.
Kryzz
shaun
- Joined
- 12 May 2008
- Posts
- 491
- Reactions
- 92
- Joined
- 23 February 2009
- Posts
- 48
- Reactions
- 0
EUR/USD
H4 graph
The pair keeps trading along a sideways trend (“O-O+”) between two key levels – 1.4390 (a very strong resistance) and 1.4215 (turning level). This trend is transforming into a “triangle” figure, which is being formed now and has its top at level 1.4425, where the 4th wave of this figure is supposed to emerge. Basically, we may consider the figure as such that will turn the sideways trend either upwards or downwards, so we should take the levels into consideration anyway.
There are two variants of events to proceed:
1. If the pair breaks above level 1.4425, the “triangle” figure may be treated as an uptrend-continuing figure. This way, the market sets the target of growth to level 1.4580. However, there is a very strong resistance on the way up – level 1.4500 (the higher boundary of “C-C+” sideways trend weekly). So, we may try to open buy positions above 1.4425, then it is necessary to close them right before approaching 1.4500 and buy additionally only upon break above ~1.4545.
2. The “triangle” figure is becoming the figure bearing a downtrend in case the pair breaks below level 1.4215 (gets below “B” and “O” trend lines); in such case the pair will get to essential support 1.4085 (“P” trend lines).
Personal prejudice:
I wouldn’t trade for buying while the pair is located above level 1.4545, since there are a whole lot of important resistances, which won’t let the market to pass them easily – the market is going to twitch. It is more secure to sell after drop below level 1.4215 with the target set to 1.4085.
H4 graph
The pair keeps trading along a sideways trend (“O-O+”) between two key levels – 1.4390 (a very strong resistance) and 1.4215 (turning level). This trend is transforming into a “triangle” figure, which is being formed now and has its top at level 1.4425, where the 4th wave of this figure is supposed to emerge. Basically, we may consider the figure as such that will turn the sideways trend either upwards or downwards, so we should take the levels into consideration anyway.
There are two variants of events to proceed:
1. If the pair breaks above level 1.4425, the “triangle” figure may be treated as an uptrend-continuing figure. This way, the market sets the target of growth to level 1.4580. However, there is a very strong resistance on the way up – level 1.4500 (the higher boundary of “C-C+” sideways trend weekly). So, we may try to open buy positions above 1.4425, then it is necessary to close them right before approaching 1.4500 and buy additionally only upon break above ~1.4545.
2. The “triangle” figure is becoming the figure bearing a downtrend in case the pair breaks below level 1.4215 (gets below “B” and “O” trend lines); in such case the pair will get to essential support 1.4085 (“P” trend lines).
Personal prejudice:
I wouldn’t trade for buying while the pair is located above level 1.4545, since there are a whole lot of important resistances, which won’t let the market to pass them easily – the market is going to twitch. It is more secure to sell after drop below level 1.4215 with the target set to 1.4085.
Kryzz
shaun
- Joined
- 12 May 2008
- Posts
- 491
- Reactions
- 92
- Joined
- 23 February 2009
- Posts
- 48
- Reactions
- 0
H4 graph
The pair is still following the sideways trading pattern between key levels 1.4360 and 1.4175, and correction won’t be finished until one of those levels is passed.
Variants of events to proceed:
1. The pair retreats to support 1.4175 again, then drops below level 1.4135. In such case it will clear the road of lowering to level 1.3900 (the lower bound of “C-C+” sideways trend daily).
2. The pair rises above level 1.4360. In such case it will clear the road of growth to level 1.4500 (the higher bound of “C-C+” sideways trend daily).
The pair is still following the sideways trading pattern between key levels 1.4360 and 1.4175, and correction won’t be finished until one of those levels is passed.
Variants of events to proceed:
1. The pair retreats to support 1.4175 again, then drops below level 1.4135. In such case it will clear the road of lowering to level 1.3900 (the lower bound of “C-C+” sideways trend daily).
2. The pair rises above level 1.4360. In such case it will clear the road of growth to level 1.4500 (the higher bound of “C-C+” sideways trend daily).
Kryzz
shaun
- Joined
- 12 May 2008
- Posts
- 491
- Reactions
- 92
Kryzz
shaun
- Joined
- 12 May 2008
- Posts
- 491
- Reactions
- 92
- Joined
- 23 February 2009
- Posts
- 48
- Reactions
- 0
H4 graph
The pair is trading along the uptrend, which has a local growth target at level 1.4635 (“F” trend line). In case that level is passed, the next target level will be set to resistance 1.4719 (2008.12.18 high). It’s also worth reminding that after the pair rose above level 1.4550, it had broken the higher bound of an “up-trending triangle” figure, so the strategic target of the pair is now set to resistance level 1.4935.
If any correction happens, the pair is supposed to find the support at level 1.4515. Then the growth towards 1.4635 will be resumed. Otherwise, if the pair drops below level 1.4465, we can state the trend’s turn and the first local dropping target will be set to level 1.4355 (“E” trend line).
The pair is trading along the uptrend, which has a local growth target at level 1.4635 (“F” trend line). In case that level is passed, the next target level will be set to resistance 1.4719 (2008.12.18 high). It’s also worth reminding that after the pair rose above level 1.4550, it had broken the higher bound of an “up-trending triangle” figure, so the strategic target of the pair is now set to resistance level 1.4935.
If any correction happens, the pair is supposed to find the support at level 1.4515. Then the growth towards 1.4635 will be resumed. Otherwise, if the pair drops below level 1.4465, we can state the trend’s turn and the first local dropping target will be set to level 1.4355 (“E” trend line).
Euro/USD Monthly and the Spiral filter 5-day pattern
“Trend guide for the euro is 1.4262 and price should continue up into September's highs and with a max move towards the Quarterly highs @ 1.4870...
As long as price is above 1.4262 then the trend is UP, with a September Rally”....5th September Weekly Report.
This is a follow through from the MAY high breakout, a retest of the
Breakout in June:- verify the break…
And then continue higher towards the 3rd Quarter highs
“Trend guide for the euro is 1.4262 and price should continue up into September's highs and with a max move towards the Quarterly highs @ 1.4870...
As long as price is above 1.4262 then the trend is UP, with a September Rally”....5th September Weekly Report.
This is a follow through from the MAY high breakout, a retest of the
Breakout in June:- verify the break…
And then continue higher towards the 3rd Quarter highs
Attachments
Kryzz
shaun
- Joined
- 12 May 2008
- Posts
- 491
- Reactions
- 92
wow, didn't like 1.46 much at all, note to self: don't trade round numbers
