Get started

Changeoftrend

USD TURNING Point - key facts to consider! Hi All, The market has been in a pivotal place since the US elections last November but how long will this decline last for... or is it all over? I wanted to highlight some key facts that I have spotted supporting that EURUSD is on the way up and Not going to fall below 1:1 mark as lot of people are expecting. KEY FACTS: 1: 9 year Flat correction looks complete! A = 3 waves, B = 3 waves C = 5 wave with a key ratio of A vs. C equalling 100% (A key fib termination point). There is possibility that wave C could extend to 1.618% which is the next possible extension in a flat correction but I don't see that there will be enough momentum to the downside supporting this massive move to 0.820. 2: Triangle wave 4 - In EW theory, a triangle indicates that the next move after is a terminal move and an expected change of direction will follow which we've seen but has the final move finished? 3: MASSIVE Divergency seen on the weekly chart indicating that the USD is WAYYYY Oversold with the MACD resisting to cross to the downside. This is also seen in the daily and 6 hourly charts as well. 4: There is a gap yet to close at 1.2000 mark that has been opened since Dec 2014 (As highlighted by the blue line and red circle) 5: Lastly, we saw the NFP last Friday which was significantly positive for the USD yet market rallied against the USD. I don't fully know the implications of this but what we've seen in the past is that previous positive NFP's continued to rally in USD's favour which didn't happen this time. Interesting times ahead guys but for now, I am remaining a Bull until proven otherwise. Happy Trading all and feel free to comment / ask questions. Cheers Don
Long
by donaldsaw
Turning Point Is Almost ReachedIt took a while for the EURUSD to rise into such "new hights"; almost a month. But that's all for January. After reaching the 1.0700 level the EURUSD will start a downtrend. So in the next months we will see a falling Euro. I placed a SLO into this red zone because I think that today (or at least tomorrow) during the LO this level will be hit. And what follows then is a change in trend. I wish you a lot of pips! (What are you thinking about? Any comments would be great!)
Short
by Trader3000
Trend change confirmed on EURUSD!My previous idea was looking out of a trend change and I think the 5 wave move to the upside has indicated that there is a BULL on the EUR. Current Count: 5 wave impulse wave has completed with key fibs met and an ABC correction which retraced to just shy of 0.618%. Forecast count: If this is indeed a wave 3, I suspect the extension to hit a) 1.618% or 2.618% as marked. Key levels to look out for. 1) EUR needs to break the 100% level (1.07397) to ensure that this is a wave 3 as the alternative count is that this is a ZZ of sorts 2) A secondary alternate count is that this current impulse is wave B with a potential C wave short to retest the 0.618% mark. I have discounted this to some degree due how parabolic the B wave is. Feel free to share your thoughts on my analysis as your views are welcome. Happy Trading! NOTE: Entry, SL and TP are not shown as I am not offering a signal service.
Long
by donaldsaw
EURUSD LONG - CHANGE IN TREND NEARLY CONFIRMEDBased on the previous post, my EURUSD predictions are happening as planned based on Elliot Wave theory and key Fibs being hit. As USD is losing steam and EUR is gaining momentum due to divergency in almost every timeframe. As a result of that I have already gone Long as per my previous post and up 100+ and planning to stay Long for a LONG time. To be 100% sure that this trend change is for good, I am hoping that EUR rallies and breaks the 1.1300 mark. It is a long way away but the overnight momentum in the asian market is showing good signs that EUR is strengthening. (Despite the USD correction) Feel free to comment and share your thoughts Happy Trading!
Long
by donaldsaw
EURJPY (H1): Selling OpportunityHi there, There is a clear 2618 selling opportunity setting up here on EURJPY on the H1 timeframe. If you are not familiar with this strategy, the 2618 trade is a countertrend strategy. Jason Stapleton introduced me to this specific strategy in his free training. Only take trades that are in your PREDETERMINED plan. If you don't have a plan, please get one before losing any more of your money! I trade the 2618 on the H4 and H1 timeframes on 8 currency pairs (AUDUSD, EURUSD, GBPUSD, NZDUSD, USDJPY, EURJPY, GBPAUD, and USDCAD). I take aggressive orders meaning that once the requirements of the trade are met, I place a pending buy or sell limit and let the trade play out. The only adjustments after that come if/when price reaches target 1, where I close half the position for profit and move the stop on the remaining position to breakeven, locking in a winning trade. Entry: 127.600 Stop: 128.330 Target 1: 126.77 Target 2: 126.390 Good trading, Luke
Short
by Beebags