EURUSD 6E Euro | Currency Futures


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EURUSD 6E Euro

  #1532 (permalink)

Australia
 
Trading Experience: Advanced
Platform: NinjaTrader, Multicharts
Favorite Futures: Spot Forex, Gold, Silver
 
Posts: 176 since Oct 2010
Thanks: 114 given, 114 received


researcher247 View Post
@Big Mike asked me to show a chart now and then.

I am bying 6E on pullbacks for a multi-week and MULTI-MONTH rally {yep; not a typo}.

My trading bias is long and I anticipate impulsive moves to the upside; so, I target better reward to risk on my long entries

Why? My cycle work (extremely accurate on weekly and monthly 'cycles') showed a MONTHLY cycle low for JUNE (right on time) and then, my work showed a WEEKLY (May 28th) cycle low shortly thereafter. My cycle work is showing a June 14th low; so I am buying retraces every single time (even on 60 minute charts--see attachment).

This crazy-ass currency is a buy for at least 3 months (for me and my trading 'swing/campaign' plan).

I will continue to buy more after new highs (on pullbacks after each new high)--mainly on daily and 8 hour and 60 minute charts.

Still busy as I expect CL to go UP now for several dollars for a short-term upmove (2-4 market days for now) and GC to continue to shake out 'week' longs as it continues to advance up on DEEP retraces off the last bottom for targets of 1682 and 1721 basis August Futures.

'trade what you see'

peace

hedvig


How does your strategy account for unprecedented soverign risk in the Eurozone at present? Greek elections on the weekend, spanish yields etc

EDIT: I re-read your post again to see if I could make any sense of it but I am going to call shenanigans on this. First of all the situation in Europe is so volatile, so out of the ordinary, that I don't see how any multi-year cycle could possibly be a valid trade signal at this present time.

Second of all I am looking at the monthly chart for the Euro and I can't see anything like what you are saying. I see a downtrend for the past 5 years with clear Lower Highs and Lower Lows - see chart below. There is big support level coming up at 1.16xx. Surely you are not suggesting that folks keeping buying lows with a potential 1000pip drawdown?

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Last edited by Traderji; June 13th, 2012 at 07:14 AM.
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