Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

I think anyplace is a decent place to get in short dependent on your risk tolerance. Throw away the charts. The euro is heading lower.

 

Sub 1.100. I don't know when, or for sure. There is no way to fix the mess in the short run

 

Sort of like 5th ave in NYC . . . One Way, Downtown.

Share this post


Link to post
Share on other sites

Europe has an Angel ! her name is Merkel. Spain has won the Euro Cup !

Everyone's elated.

I would buy above the TL on this 5 min chart... to the previous resistance at the Red horizontal line. Stp below recent low at the time.

eu2t.thumb.gif.305557a7c27f28a6d7470d96d087a99d.gif

Share this post


Link to post
Share on other sites

daily-eurusd14.JPG.2cb820537a74dcb3ec48b5dc9272afaf.JPG

 

On Friday the Euro moved up to the 61.80 % fib extension (A-B at C). Today, market bounced back from this resistance level. The monthly pivot and daily 20 SMA (purple line) currently act as support. The low of January at 1.2624 (orange line) and the low of August 2010 at 1.2588 (purple line) are key levels.

 

4h-eurusd16.JPG.023fca36bf9e093e81e21be8a90e1d08.JPG

 

On the 4-hour chart we see that the Euro respected the orange line and the 4-hour 10-SMA (red line). However, after the close of the bearish 4-hour candle at 12 a.m. (red circle-left) (Timing setup) the Euro fell below the orange line/ 10 SMA.

 

1h-EurUsd136.JPG.390e57038a2bc4d31b84af3c446bc618.JPG

 

On the 1 hour chart we see that the 12 a.m. hourly candle (A) respected the daily pivot at 1.2598. The 1 p.m. candle penetrated the pivot point and respected the weekly pivot at 1.2586 and the purple line (August 2010 low) but closed above the daily pivot on the hourly chart. However, the 3 p.m. hourly candle resumed the down trend and penetrated the already touched/ respected support levels (second test). The Euro found support at the monthly pivot point.

The price zone of the circled consolidation (blue) from Friday also provided some temporary support.

 

5min-eurusd40.thumb.JPG.bd321b60157cacd198b8cd7915715823.JPG

 

On the 5 min chart we had a kind of inverted Head and Shoulder in the Asian session with the green neckline and a prolonged left shoulder at the support level of the low of January (orange line). At 11 a.m. we had a typical 3-wave consolidation at the support level (orange line) before the Euro resumed its downtrend. The duration of the consolidation is the same like the duration of the prior 5-min down swing. Most of the circled candles on the 5 min chart show how price bounced at support/ resistance.

 

Technical Chart Analysis (EUR/USD) Euro to US Dollar - Forex market

Share this post


Link to post
Share on other sites
Europe has an Angel ! her name is Merkel. Spain has won the Euro Cup !

Everyone's elated.

I would buy above the TL on this 5 min chart... to the previous resistance at the Red horizontal line. Stp below recent low at the time.

 

I think that the blue trendline is not very important but good luck anyway.

 

We are currently at the monthly pivot point, daily 20 SMA and August 2010 low. I dont think that much will happen today anymore. If EUR/USD is able to hold the current support these days (possible bull flag on daily) then we could have some follow through of fridays strong candle. If market is falling below the support level then more downside is likely (possible bear flag on the hourly/4 hour chart, consolidation at support (respecting) before resuming the down trend).

Share this post


Link to post
Share on other sites

EUR/USD Market Recap 03.07.12

 

daily-eurusd15.JPG.cc10aecdbdfa4a877daab224b0fa106d.JPG

 

Today, the Euro had a relatively quite session. On the daily chart we see that the support level around the monthly pivot at 1.2568, the low of August 2010 at 1.2588 (purple line) and the 20 SMA (purple) held the market so far.

 

1h-EurUsd138.JPG.822d805cef3c33b6be7dd66877c57f20.JPG

 

The circled areas on the hourly chart show how price bounced from support/ resistance.

On the hourly chart we see that the Euro moved up to the daily pivot at 1.2611 at 7 a.m. GMT but market could not breach the resistance and moved lower from there. The Euro penetrated the monthly pivot and cleared some stops below it and yesterday's low but the Euro closed above this key resistance level on the hourly chart (green circle). After the clearing of the stops and the rejection of prices (close above the monthly pivot on the hourly and higher low on the 5 min chart) market moved to the other side of the consolidation (1.2568 - 1.2614) to test it. The Euro breached the pivot point and the recent high at 1.2614 (stop clearing) but the key level at 1.2624 (orange line- January low) provided strong resistance and the Euro bounced back.

The fake breakouts (stop clearing) seem to be typical in a quite session when everyone is waiting for major news and thus traders are lacking commitment/ low participation.

 

5min-eurusd42.thumb.JPG.1c66a6804bc6195b5043f82f9427b46e.JPG

 

On the 5 min chart (above) we see how price bounced from support/resistance (blue circles) and the formation of consolidations/bull/bear flags (red circles) as well as some Fibonacci extensions (100 % and 161 %).

The price zones of the consolidations (red circle) provided some temporary support/ resistance as the market moved back into these zones.

At 9 a.m. market formed an inverted Head & Shoulder at the purple line (August low 2010). During the pattern market did not confirm the break of the purple line (no close of the succeeding candles below the range of the 9:30 a.m. breakout candle on the 5 min chart). Market breached the brown neckline and moved up to the H&S price target (100 % of the larger swing in the H&S-(left shoulder to head)-moved to the break of the neckline). Between 1 and 3 p.m. the Euro breached the monthly pivot but the Euro formed a higher low and closed above the monthly pivot on the hourly chart (rejection of the breakout). From there, the Euro moved up to test the other side of the consolidation range and market found temporary resistance at the weekly pivot/ 161 % fib extension at 3 p.m. and the daily pivot at about 4 p.m.. The chance of a breach of the daily pivot increased due to the bull flag, the rising 10 SMA, the prior test at 7 a.m. (second test now) and particularly the fact that the prior 4-hour candle closing at 4 p.m. already touched (respected) the daily pivot so that this resistance level got weaker with the beginning of the new 4-hour candle (Timing setup).

 

Technical Chart Analysis (EUR/USD) Euro to US Dollar - Forex market

Share this post


Link to post
Share on other sites

EUR/USD Market Recap 09.07.12

 

5min-eurusd45.thumb.JPG.5dea5599862268ca4401be603a377a86.JPG

 

On Friday, the Euro closed at the low of June 1st (pink line) after market slightly penetrated this key level during the day. Today, market gapped slightly below Friday's low but initially reversed, closed the gap and consolidated around the pink line most of the day. On the 5 min chart we can see that the daily low of June 1st (pink line) acted as support/resistance. The breakout candle at 3 p.m. (penetrating the pink line) did not get confirmed and market reversed to the upside after hitting the price zone of the consolidation between 9 - 10 a.m. GMT. The main resistance to the upside was the daily pivot point. The Euro formed a bull flag/typical 3-wave-consolidation (red circle) before penetrating the daily pivot for the third time (level already weaken) whereby market breached this level (no confirmation) and triggered most of the stops above the daily pivot. The Euro is currently consolidation at the daily pivot.

 

The positioning of the stops above a high/low or strinking levels is easy to anticipate and market often tends to trigger these stops. Very often these levels get penetrated and stops/limit orders get triggered but market reversed (no confirmed breakout-only stop fishing).

 

Technical Chart Analysis (EUR/USD) Euro to US Dollar - Forex market

Share this post


Link to post
Share on other sites

well, I'm going to look to get long between 1.2510, and 1.2490 if we can pull back to that price range, and I see price action showing signs of the retracement being done, and a continued move up. In particular, any nice pinbars or range expansion bullish candles on a 15 minute, 30 min, or 1hr chart once price hits that range.

 

If other risk markets are generally holding up well during this coming london/US trading session, I may look to enter if price hits 1.2510... however, if price is moving down with conviction, particularly if we have hit 1.2620 or higher in price BEFORE we retest the 1.2510 level... I will wait for price to hit the bottom of my "zone of interest"...closer to the lows around 1.2490-1.2480.

 

However, I will have a long order at around 1.2460ish, with about a 30ish pip stop, and a 30 pip 1st target, 75 pip 2nd target, and i'll keep that order there until the week is finished.

 

Basically, 2 areas I like, the lower one I want a long order at no matter what... the higher one, i'll wait to see what other markets are doing, how price enters that zone, whether we break trendlines or not... etc. It will be situational, most importantly it will depend on how price reacts if it reaches 1.2510-1.2490 during the london or U.S. session, but before it has hit 1.2620.

Share this post


Link to post
Share on other sites

eur/usd sitting on support. i don't expect a surprise move today, but close below 1.2480 would take us to 1.2420. i think it would be better to leave this pair alone before Ben speaks :roll eyes:

eurusd30.thumb.jpg.22f20cc4443e83b33b11479de4a3b255.jpg

Share this post


Link to post
Share on other sites

Well, we just hit 1.2700 a few minuts ago... and I'm tempted, but gonna hold off only due to the very positive sentiment for risk at the moment... but I think a short here with about a 25 pip stop,, and a 30-50 pip target would probably do just fine. I think this is nearing the high for today anyway... guess we'll just have to wait and see.

 

I will say this however... if i'm watching this a while longer, and see some strong volume correlate to pinbars and bearish reversal candles.... I probably will take a quick short.

Share this post


Link to post
Share on other sites

Whoops! just remembered it is NFP day... that completely slipped my mind. Closed out the trade for a 6 pip loss. not going to hold such a position through this news announcement.

 

That being said... if we could get anywhere towards 1.2740 or higher, I will be looking for a short trade. I'll be placing an order for a short at 1.2748 about 5 minutes after the NFP release because want a short at that price regardless of what PA does, as long as it's not driven into that price within the first few minutes after the NFP release... and will probably take a 30ish pip stop, 30-60 pip target.

 

Next price up to short abouve that is right around 1.2800-1.2820... and i'd like to get long if we could get back towards yesterdays high.

Edited by ForexTraderX

Share this post


Link to post
Share on other sites

Euro failed to break above the 1.34 level this week and fall back to 1.3340. A test of 1.3312 support expected for the beggining of the week. It looks tough at the moment a move above 1.34.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Similar Content

    • By Jonh Smith
      I searched in google with keywords best forex robot 2019 and in the end I found fxflightproEA from their website fxflightpro.com . if anyone has ever bought, I was interested in their ea. I saw a very small drawdown, and monthly profit looks great.and I see myfxbook profit reaching 50% in 50 days. if there are buy please review here and I say thank you if anyone would like to share here.

      thanks
    • By StraussX
      Hi GUYS, Happy Wednesday!
      I'd like to share daily forex analysis from Followme, hope this information helps your trading.
      Today, Let's focus on AUD and NZD.
      AUDUSD is trading at 0.6761; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6765 and then resume moving downwards to reach 0.6635. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6825. In this case, the pair may continue growing towards 0.6905.
       
      NZDUSD is trading at 0.6447; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6455 and then resume moving downwards to reach 0.6315. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6525. In this case, the pair may continue growing towards 0.6645.
    • By Georgebro8
      So I've been 18 for about 4 months, since I turned 18 I started up an account, and basically thought I was doing amazing because of beginners luck, put in some of my savings and managed to do well, some days I would make £200, one day I even made £900, after time I lost my profits and made a loss as well. I've realised I need to spend the time analysing the market and making technical judgments. I'm trying to read more and spend a lot of my time looking at the charts. is there any advice people can give me. and is making 5% a week a realistic goal to set myself? before anyone assumes that im looking for a get rich quick scheme, im certainly not, I see every loss ive made as a lesson and ensure that I learn from each mistake I make. 
      any advice about indicators, strategies, how to analyse the market, or even analysing earning reports would help me.
    • By edakad
      Firebird is an indicator to identify the price spikes in the market. Firebird indicator first calculates a 10-period moving average, then shifts this moving average a certain percentage above and below the 10-period moving average. The shifted averages are drawn on chart as the red and green line. When price touches these lines, price spike is identified. Usually after a price spike, the trend reverses for some time. The indicator can be used to take advantage of this price behaviors. In daily chart usually the 10 period MA is shifted by 2 percent to form the price bands. On lower time frames like Hourly, Four Hour a smaller percentage price shift is used like 0.5% . The important consideration here is most of the price bars must be contained within the upper and lower bands.
      When price reaches above the upper red band, a sell position is opened. When price reaches the lower green band, buy position is opened. Trades can be managed with proper stop loss and take profit. In the picture, Firebird indicator is attached to daily chart of EUR/USD with 2% shift on MA. Note that almost all price bars are within the price bands. And when price extends beyond these bands, price trend reverses and comes back into the bands.

      FireBird.zip
  • Topics

  • Posts

    • Be careful who you blame.   I can tell you one thing for sure.   Effective traders don’t blame others when things start to go wrong.   You can hang onto your tendency to play the victim, or the martyr… but if you want to achieve in trading, you have to be prepared to take responsibility.   People assign reasons to outcomes, whether based on internal or external factors.   When traders face losses, it's common for them to blame bad luck, poor advice, or other external factors, rather than reflecting on their own personal attributes like arrogance, fear, or greed.   This is a challenging lesson to grasp in your trading journey, but one that holds immense value.   This is called attribution theory. Taking responsibility for your actions is the key to improving your trading skills. Pause and ask yourself - What role did I play in my financial decisions?   After all, you were the one who listened to that source, and decided to act on that trade based on the rumour. Attributing results solely to external circumstances is what is known as having an ‘external locus of control’.   It's a concept coined by psychologist Julian Rotter in 1954. A trader with an external locus of control might say, "I made a profit because the markets are currently favourable."   Instead, strive to develop an "internal locus of control" and take ownership of your actions.   Assume that all trading results are within your realm of responsibility and actively seek ways to improve your own behaviour.   This is the fastest route to enhancing your trading abilities. A trader with an internal locus of control might proudly state, "My equity curve is rising because I am a disciplined trader who faithfully follows my trading plan." Author: Louise Bedford Source: https://www.tradinggame.com.au/
    • SELF IMPROVEMENT.   The whole self-help industry began when Dale Carnegie published How to Win Friends and Influence People in 1936. Then came other classics like Think And Grow Rich by Napoleon Hill, Awaken the Giant Within by Tony Robbins toward the end of the century.   Today, teaching people how to improve themselves is a business. A pure ruthless business where some people sell utter bullshit.   There are broke Instagrammers and YouTubers with literally no solid background teaching men how to be attractive to women, how to begin a start-up, how to become successful — most of these guys speaking nothing more than hollow motivational words and cliche stuff. They waste your time. Some of these people who present themselves as hugely successful also give talks and write books.   There are so many books on financial advice, self-improvement, love, etc and some people actually try to read them. They are a waste of time, mostly.   When you start reading a dozen books on finance you realize that they all say the same stuff.   You are not going to live forever in the learning phase. Don't procrastinate by reading bull-shit or the same good knowledge in 10 books. What we ought to do is choose wisely.   Yes. A good book can change your life, given you do what it asks you to do.   All the books I have named up to now are worthy of reading. Tim Ferriss, Simon Sinek, Robert Greene — these guys are worthy of reading. These guys teach what others don't. Their books are unique and actually, come from relevant and successful people.   When Richard Branson writes a book about entrepreneurship, go read it. Every line in that book is said by one of the greatest entrepreneurs of our time.   When a Chinese millionaire( he claims to be) Youtuber who releases a video titled “Why reading books keeps you broke” and a year later another one “My recommendation of books for grand success” you should be wise to tell him to jump from Victoria Falls.   These self-improvement gurus sell you delusions.   They say they have those little tricks that only they know that if you use, everything in your life will be perfect. Those little tricks. We are just “making of a to-do-list before sleeping” away from becoming the next Bill Gates.   There are no little tricks.   There is no success-mantra.   Self-improvement is a trap for 99% of the people. You can't do that unless you are very, very strong.   If you are looking for easy ways, you will only keep wasting your time forgetting that your time on this planet is limited, as alive humans that is.   Also, I feel that people who claim to read like a book a day or promote it are idiots. You retain nothing. When you do read a good book, you read slow, sometimes a whole paragraph, again and again, dwelling on it, trying to internalize its knowledge. You try to understand. You think. It takes time.   It's better to read a good book 10 times than 1000 stupid ones.   So be choosy. Read from the guys who actually know something, not some wannabe ‘influencers’.   Edit: Think And Grow Rich was written as a result of a project assigned to Napoleon Hill by Andrew Carnegie(the 2nd richest man in recent history). He was asked to study the most successful people on the planet and document which characteristics made them great. He did extensive work in studying hundreds of the most successful people of that time. The result was that little book.   Nowadays some people just study Instagram algorithms and think of themselves as a Dale Carnegie or Anthony Robbins. By Nupur Nishant, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.