6E1! trade ideas
Triple top range before ECB event The EURO has put in a temporary consolidation ahead of the ECB event later today.
Once you zoom out, you'll see that there is significant room for the EURO to move higher.
But a break below 1.19 could start a new bearish phase and the triple top shows temporary exhaustion of the bulls. There hasn't been a bearish phase in quite some time.
Guys time to pay attention on E6!Again commentary later if you guys don't mind. Now have to focus on watch for higher high, higher low.
EURO Futures Possible Trend ReversalThe technical factors for a reversal at this point are:
1. Volume spike a few days ago.
2. The recent high is at R2 yearly pivot
3. There is a divergence on the 3/10 oscillator and its slow line
So with this, all these timing factors are lining up...
1. Gold - reversal to short side
2. US Dollar Index - reversal to the upside
3. Yen futures - reversal to the downside
4. US Bonds - reversal to the downside
See previous charts. This is an interesting juncture in time and one to watch carefully.
Everything is moving along my analysisE6 is now retracing into the long structure. I am preparing to take a position once
a higher low higher high candle is formed. Good luck boys.
Building a case to long Euro
Trading is similar to investigative work. At this point and time, I do not know the high is formed or not
but it's ok since I trade pull backs and I want to illustrate how I use various perspective to gather
evidence to substantiate a trade.
So, if the current high is at 1.2082, what I'd do is to wait for Euro to pullback to the zone highlighted in
Blue. I am willing to take a trade because
A) Risk to reward is in my favor
B) This blue zone will hold if the evidence point conclusively to long
C) I do not have to guess where the breakout ends and is not stress
It works for me because I have time to build my trade plan, knowing the risk to reward is in my favor,
and of course your own statistics of win/loss ratio that it becomes "easy to manage". I may still get
it wrong after waiting but the result of this trade itself does not determine the long term outcome of
your equity curve. As long you adopt certain mindset that winning and losing is part of the game, you
are ahead of the game.
Building a case to long Euro
Trading is similar to investigative work. I gather evidence to substantiate a claim and this is how I do it.
Euro, having break new high's continue to gather pace in bullish momentum. The reason I don't trade
breakout is I could not quantify how much the move is going to be. The traditional way is to measure
harmonic moves and expect the current move to match previous move, but I find this method ineffective
as it was before. You could also try fib extension, Atr etc for your exits.
I am just more comfortable (a point I keep bringing up) sitting back and wait. Thus, I have time to gather
a bullish case for Euro (E6) and will consider taking a position once I see it retrace to 61.8% and above.
The bulls must be able to hold its previous bullish structure. If I get in, my stop is 5 - 10 pips below the
blue zone highlighted.
I don't place an arbitrary figure on how far your stop should be place but do note that the shorter time
frame you trade, the lesser allowance you have as the risk to reward will not be in your favor. Take
your time to experience this and slowly you get my point.
Euro is ready for the takeoffThe US Dollar is now under pressure again. The probability of interest rate hike in September is very small. Nothing prevents Euro from testing psychological 1.2 level. Open interest for Euro fx future contract expiring in September had increased more than 2% (93331 contracts) on Friday.
I consider placing a long trade from a pullback, or in case it doesn't happen, going in the direction of an upside breakout.
Simple Pullbacks will do on EUR
All i need to trade on EUR/USD will be a pullback to this bullish structure which ideally
gives a good risk to reward as well as, the uptrend will remain intact Most of the time
when there is a trend you rarely will see Patterns to trade and you can plan for breakout
as well.
euro/usd RANGEEuro has been in a range 1.06-1.15 for two years. We are again on the top of the range. Look for selling opportunities. Probability H.
Long EURRUB - mid term setupLooking forward for a reversal in Euro / Ruble pair in a short time around low 60s levels.
Watching for a MA(14), as even 1 bar breakout can result a change of movement.
To be continue with UPDs after mid-March expiration.
Our initial target is at 80 lvl.
EUR/USD arrived at targetEUR/USD arrived at target
Now small withdrawal to 1,146
and then resumed to 1,15
Eur/usd rises up today and tries to break the bearish channelEuro rises up today and tries to break the bearish multi-day channel
Long to pivot break with hourly candle
EUR / USD E6U17 - Sep '17
CROC X1 - Supports / Resistors - Multiday (TF - 1H)
R3 = 1.1461
R2 = 1.143
R1 = 1,142
PIVOT = 1,140
S1 = 1,138
S2 = 1,138
S3 = 1.135
CROC X3 - Last Signal (Long Term - TF 1D)
LONG from 1,0704
From 05/04/2017
Eur/usd rises up today and tries to break the bearish channel
Euro rises up today and tries to break the bearish multi-day channel
Long to pivot break with hourly candle
EUR / USD E6U17 - Sep '17
CROC X1 - Supports / Resistors - Multiday (TF - 1H)
R3 = 1.1461
R2 = 1.143
R1 = 1,142
PIVOT = 1,140
S1 = 1,138
S2 = 1,138
S3 = 1.135
CROC X3 - Last Signal (Long Term - TF 1D)
LONG from 1,0704
From 05/04/2017
