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Thread: EURUSD Charts

  1. #21
    If we stay within this upper channel now, I could see this heading north....

  2. #22

  3. #23
    Quote Originally Posted by ;
    currently long on the EURUSD.
    Lovely set up you've got there.
    Hope it ends up my friend.
    If it will then see you on top.

  4. #24
    Quote Originally Posted by ;
    lovely setup you've got there.
    Hope it works out my buddy.
    If it will then see you at the top.
    thanks. I am just hoping news spikes do not take out my stop.

  5. #25
    Quote Originally Posted by ;
    thanks. I'm just expecting news spikes do not take out my stop.
    It is definately worth a risk, imho.

  6. #26
    That is where we are on daily chart.

    I am going with the flow of this market which is down, looking at 1.4500 for tp and sl in 1.4850. However may close or change the situation based on market situation.

    ps. Red line labels aren't price levels but points at which these lines are drawn. I don't believe in perfection.

  7. #27
    Well, even though the dollar is not out of the woods yet I'm very happy to see at least some sort of recovery. I hope it sticks because, quite honestly, I am sick of this persistent up trend. Of course the trend was great to trade, and it's been profitable too so I am not whining, I'd just enjoy a change of scenery!!!

  8. #28
    The H1 chart (above) is holding only above the median line, and you can see in the M15 chart this tight range looks to be trying to break out up. Of course we will not know which way the breakout will go until it happens, so for today I am still not entering a position.

  9. #29
    You set up a chart having a nice uptrending channel and say you are going short? Confusedd lol. I picked up a long here 1.4713, 1.4825 will be nice.

    Quote Originally Posted by ;
    This is where we are on daily chart.

    I'm going with the flow of the market which is down, looking at 1.4500 for tp and sl at 1.4850. However may close or change the situation according to market situation.

    ps. Line labels are not price levels but points at. I do not believe in perfection.

  10. #30
    Quote Originally Posted by ;
    You set a chart with a nice uptrending channel and say you're going short? Confusedd lol. I picked up a long here 1.4713, 1.4825 would be fine.
    Hello Forextine,

    Sorry for this confusion. Yes, I am short in this uptrend and there are several reasons for this apparently crazy choice. My brief position is first of many medium term places to come later. It takes several unsuccessful attempts to build a medium term position.

    If instant trend is contrary to the main trend, I either 1) sit on sidelines -first preference, or 2) go against the main trend - counter trend trade.

    Counter fad transactions pay off if produced near trend exhaustion. We're only 300 pips from 1.5000, good enough for me to begin building counter trend positions.

    This is how I look at it:

    1. In about a year or so we exchanged euro in 1.2xxx, but not for too long
    2. We exchanged euro for most part of the year in 1.3xx or 1.4xx
    3. We exchanged euro only above 1.5xx for only few days.

    I am of the view that we're going to keep on trading euro at 1.4xxx in the medium term. Therefore expecting down more motions than moves from 1.4750 - 1.5xxx degree.

    Here is the link explaining also the brief term perspective of this brief.

    https://forexintuitive.com/forex-tra...shell-sam.html

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