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Thread: EUR/USD

  1. #261
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    And have anyone read some of these books? Or any other? Need some material to start from...

    Day Trading & Swing Trading the Currency Market
    The 10 Essentials of Forex Trading
    7 Winning Strategies for Trading Forex


  2. #262
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    EUR/USD 07/11/2012 - 4h and 1h Chart

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    EUR/USD 4 HOURS

    SUGGESTIONS: Further to the comments made for the 60min chart, we observe on the 4 hours chart the up candle of the last hours of trading. In this chart the “resistances” in front of the parity are evident. First of all “resistances”, the d1 red trend line, upper part of the channel “d1-d2” is the first the parity will encounter.

    The trading strategy described in the 60min chart corresponds to the 4 hours chart too.

    EUR/USD 60MIN

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    SUGGESTIONS: The news announces Mr. Barak Obama as the next President of the United States and the EUR/USD parity, for the time being, reverses its falling course.

    The “pink” horizontal trend line, signaling since many days the “triple bottom” set up, proved to be, for the time being, a strong supporting level.

    Can you tell whether Mr. Obama’s re-election reversed the course of this parity, or, the “pink” horizontal line?

    Anyway, the parity is approaching the resistance of the 200SMA.

    The short positions must reduce to the bare minimum, if not closed, their short exposure and wait further developments before opening new short positions.

    The long positions, new anyway, remain opened. The up correction under way will encounter in short the 200SMA where will reveal some of its consistency and nature.

    Obviously, the opening in Europe and later the opening of the USA will give us further indications of the further evolution of the EUR/USD parity.

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  3. #263
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    EUR/USD 12/11/2012 - 4h and 60 min Chart Analysis

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    UR/USD 60MIN CHARTS

    SUGGESTIONS:
    The green colored “support” zone is reached by the parity and a “slight” reaction can be seen immediately after the “touching”.

    As I have repeatedly stated: “below the pink horizontal line we remain on short positions. The stop loss strategy must be adjusted now. For as long as the parity stays close to the pink horizontal line, the stop loss or the level for very drastic reduction of your short exposure, r emains a level little above the pink horizontal line. As the parity will eventually increase the distance of its position from the pink horizontal line, you must switch to a “rolling stop loss” strategy. Never forget that no one becomes “rich” from trading only one trade.

    I have also indicated the green zone as a support level.

    So, the Bears reduce their short exposure and the Bulls open timid long positions with stop loss the breaking of the “d4” trend line and the 1.26837 minus a little, level. Above, the pink horizontal line, my friends the Bulls, will “attack”.

    The Bears, will “attack” after the parity crosses from above the green support zone.


    EUR/USD 4 HOURS CHART

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    SUGGESTIONS: The forecast about the “1-2 Waves” set up I mentioned two days ago, gains credibility as the parity falls.

    At the closing of last evening trading session, the parity stopped its downwards path on the D1 red trend line, abandoning for some hours the d2 red trend line, a path followed by the parity for some time already.

    If the parity crosses from above the D1 trend line and continues downwards not paying attention to the “SUPPORT 1” zone (colored light blue color), the “1-2 Waves” set up will be fully confirmed and the parity would be engaged in a 3rd grade Elliott Wave,. The parity will accelerate its fall, creating somewhere along the path a downward gap or gaps, depending from the violence of the fall. Expected targets of such fall are the levels of 1.2189 (2.618 Fibo grade) and 1.15 (4.25 Fibo grade that does not appear on this part of the relevant chart).

    Vice-versa, if the parity pays attention on the “SUPPORT 1” level, the eventual strong fall may be postponed for latter. The 3rd grade Elliott Wave by stopping at the “SUPPORT 1” zone will satisfy the condition wanting the 3rd Wave to be longer than one of the 1st or 5th grades Waves, because this 3rd Wave (1.31-1.25) will be longer than the 1st Wave (1.31-1.28). Double the size in pips. In this case, the forecasted fall may be manifested adopting an extended 5th grade Wave after the exhaustion of the 4th grade Wave that may start from the “SUPPORT 1” zone and exhaust somewhere around th3 1.28usd level. The exhaustion of this “extended” 5th grade Elliott Wave may be at levels below the 1.15usd (4.25 Fibo grade of the Fibo scale marked with thick red arrow).

    As you can easily suppose, from each of the levels that could play the role of resistance on the possible falling evolution of this parity’s path, you can start timid long positions till the next resistance zone. They are trades on long positions of small duration in time. If you choose to do it, you must be careful while selecting the entry points in order to have the max of risk/reward ratio. You, also, must set tight stop loss strategy in order to min losses and do not over try it, please. In general, there are no reliable foreseeable support levels for the very near future.

    Besides, as you will observe from the weekly chart that I suggest you should visit, the parity its being distanced from the brown prong of the relative Andrew’s Pitchfork. There is not yet sufficient distance to consider it as “unequivocal” crossing from above, nevertheless, the sign are there, very evident.

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  4. #264
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    EUR/USD 13/11/2012 - 4h and 60 min Chart Analysis

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    EUR/USD 4 HOURS CHART

    SUGGESTIONS: The parity is supported right now by the D1 red trend line that originates from the 28th February 2012. There is a significantly light trading forcing the parity to “jump” more than under heavy trading volumes.

    My friends, this chart is full of technical lines and Fibo scales making its reading difficult. The density of technical tools in this chart signals that is better to run “short time” trades. Leaving positions, either long, or, short, opened for long time, will surely encounter a technical element that may “burn” most of the unrealized profits.



    Anyway, the main trend is downwards, so, short positions are suggestible. On the crossing of the D1 trend line from above, the parity is expected to encounter the “SUPPORT 1” zone. For here, either, a rebound of limited extensions is expected, or, a “delay” of the falling path.

    On this SUPPORT 1 zone you may try some long positions with stop loss level just below the supporting cyan zone.

    EUR/USD 60MIN CHART

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    SUGGESTIONS: The parity for the time being is little below the 1.2683usd level; it is not though finished with the green supporting zone. The “d4” trend line has been tested several times therefore I will remind you that it constitutes a “major” element of technical analysis in this chart and you can trust it.

    If the d4 breaks, “nobody is perfect”, the parity will continue moving within the channel d5-d6 aiming lower targets of this falling path.

    Therefore,

    The short positions must be ready to reactivate their relative exposure. You must, though, firstly be sure about the crossing from above of the green supporting zone. Targets further down: 1.2575 – 1.2441 – 1.2244 – 1.2206 – 1.1981. All targets correspond to the various Fibo grades of the Fibo scale marked with red arrow; and thus constitute potential intermediate or reversing targets of the parity’s path. Stop loss the crossing from below of the 50SMA.

    The “Bulls”. My beautiful optimistic friends, open some very timid long positions and be ready to close them as the parity eventually cross from above the d4 trade line and the green resistance zone. In case the green zone proves to be “too hard to die” and the parity rebounds, wait for the return of the parity, to reconfirm that green zone is “really alive”. If, in this second attempt, the green zone resists and the parity rebounds, my bullish friends increase you long exposures. The stop loss for you is set at the level of 1.2650usd.

    fxlisting.net

  5. #265
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    EUR/USD 14/11/2012 - 4h and 60 min Chart Analysis

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    EUR/USD 60MIN CHART

    SUGGESTIONS: Today, I have nothing to add. The SUPPORT green zone, for the time being, holds its position and function. The parity aims the 200SMA and continues moving between “d4-d3”.



    EUR/USD 4 HOURS CHART

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    SUGGESTIONS: The “D1” trend line “seems” to hold and the parity aims the 50SMA on this 4 hours chart.

    In case the “young” reversal follows the latest news from the front of the European Debt crisis, is early to “celebrate” the solution of the problem. Therefore, let us wait for the encounter between the parity and the 50SMA in this time frame chart and the encounter of the parity with the 200SMA at the 60min chart.

    The trading strategies of the previous days are still valid since the supporting levels on both time frame charts were estimated with good precision.

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  6. #266
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    EUR/USD 20/11/2012 - 4h and 1h Chart Analysis

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    EUR/USD 60MIN CHART

    SUGGESTIONS: The pink horizontal line develops into a major technical element.

    On the basis of the yesterday’s suggestions the short positions eventually opened below the pink line are by now closed because the relative stop loss was hit. Vice-versa, the long positions that were opened, just above the pink horizontal line, are already closed too, because their stop loss level was hit too.
    So, I assume that only long positions that were opened from lower levels may still be opened. My friends, you will wait for the “end” of the encounter between the parity and the pink horizontal line. There is a reliable forecast for the stability of the U1-U2 blue channel.

    You may try again small short positions when the parity gets out of the U1-U2 channel and moves below the pink horizontal line. Stop loss as previously, just above the same line.

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    EUR/USD 4 HOURS CHART

    SUGGESTIONS: The up move is heading towards the 200SMA provided the parity will get out of the u1-u2 blue channel. So,

    The long positions opened from previous lower levels stay opened ready to reduce their exposure or even close in case the parity does not exceed the u1-u2 channel.

    In my opinion, is safer to open short positions a little later, after the parity’s evolution after some hours.

    fxlisting.net

  7. #267
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    Majors

    EUR/USD: LONG AT 1.3005 FOR A 1.3116 OBJECTIVE, STOP AT 1.2960

    USD/JPY: LONG AT 82.11 FOR A 83.00 OBJECTIVE, STOP AT 81.85

    GBP/USD: BUY AT 1.6005 FOR A 1.6120 OBJECTIVE, STOP AT 1.5955

    USD/CHF: SELL AT .9300 FOR .9191; STOP AT .9342

    AUD/USD: POSSIBLY SELL

    USD/CAD: SHORT AT .9945 FOR .9795; STOP AT .9965


    Crosses

    EUR/JPY: LOOK TO BUY

    EUR/GBP: LONG AT .8040 FOR A .8165 OBJECTIVE, STOP AT .8040

    EUR/CHF: LONG AT 1.2037 FOR A 1.2116 OBJECTIVE, STOP AT 1.2017

    EUR/CAD: POSSIBLY BUY

    GBP/JPY: LONG AT 132.15 FOR 135.10, STOP AT 131.20

    NZD/USD: SHORT AT .8193 FOR A .8053 OBJECTIVE, STOP AT .8218

    I am The Money

  8. #268
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    EUR/USD 07/12/2012 - 1h Chart Analysis

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    EUR/USD – 1 HOUR CHART

    COMMENTS – SUGGESTIONS: Today is another day. Yesterday, Mr. Draghi mentioned a “non expansion” of the European Union and the EUR tumbled until this hour of today, Friday 7th of December. The parity came below the 200SMA and reacted at the “2” blue trend line that coincides with the 0.382 grade of the Fibo Retr scale indicated with the two (up-down) arrows.

    Today is another day. Today is a “Non Farm payroll” day in the economic calendar of the USA. In case you want to know more about the “NFP” please visit the following link: http://www.bloomberg.com/markets/economic-calendar/ requesting to learn more on the Employment Situation.

    So, in my opinion, the data of today will complement the data already announced yesterday about the decreasing of the new unemployment filings. A data better than expected by the analysts will signal a positive mark for the USA economy. Vice-versa will signal the opposite.

    Obviously, few moments before the public announcement of the data, traditionally, a frenetic volatility is observed on the main currency pairs.

    So, in my opinion, the data of today will “neutralize” the positive data announced yesterday. This way, the USD will continue its course leaving the scene that will modify the in between parities to its counter parting currencies.

    Technically, the medium-short time period trend is downwards. The parity is below the 200SMA. Consequently,

    - Short running positions take some profits by reducing the short exposure and wait for couple of hours after the developments of the announcement of the NFP (13.30 hrs GMT). Stop loss at 1.20 usd.

    - You may open new long positions above the 200SMA. Stop loss the amount of pips you can afford.

    - The Lottery. Open long or short positions for which the necessary margin is not connected to the rest of your equity. Set a take profit level and hope the parity moves your direction. By not connecting the margin to your equity, if you don’t win the lottery, you may lose only the margin required for the position opened. If your Broker considers as margin all your equity (as available capital supporting your position and thus do not close the position), by not winning the Lottery you may lose all your equity. ATTENTION-ATTENTION: Most brokers connect the initial margin to all your equity and therefore your margin is financed by your equity until the equity is gone. Then your position is closed. You are also told to be happy because there is no “negative” balance. Happy you, happy all of us.



    In addition, although some CFDs Brokers act as intermediary (agents) calling their activity as STP or other similar acronyms, definitely at the end of the road, most of the Brokers, without you knowing, eventually act as Market Makers, in other words, “DIVINE GODS”, being involved as direct counterpart to your position; “the Broker wins what you lose and vice-versa”. In similar opportunities, of frenetic volatility as on NFP, most Brokers apply the famous clause included in their “Terms and Conditions” section that you have “a priori” accepted and signed, about executing trades at “the next best available price”. In this way, your set trades may not be executed at the price you set but at the next available best (for whom?) price.

    With the “next best available price” clause, in NFP situations, you may profit “nothing” or “something” in case the direction of your position coincides with the trend of the parity during the announcement of the data and afterwards. If the direction of position-parity does not coincide, you may easily lose all your equity.

    Good luck people

    fxlisting.net

  9. #269
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    General of the Forex World.

  10. #270
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    Check this chart out -

    I am The Money

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