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EURUSD M6E/6E Euro


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EURUSD M6E/6E Euro

  #211 (permalink)
 
kbit's Avatar
 kbit 
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Big Mike View Post
That is why I questioned you earlier. You can't expect things to go straight one direction, most of the time there is a cyclical pattern, retracement, zig zag, whatever you want to call it. It is during those times that most people lose money or make poor decisions.

Today for instance the euro moved 200 ticks from top to bottom just in the pre-London session. In my opinion, you can't expect it to move even more, because the average daily range is just 100-200 ticks for the last 30-60 days.

So instead, you should in fact be well prepared for a retracement when it moves 200 ticks top to bottom.

Mike

Just reading your comments and made me think of something I would share, perhaps you have noticed ...the euro likes to move about 120 ticks or 240 ticks in a day.
Take a look sometime and you'll see what I mean. today is a good example of this...does it always happen..no but ....

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  #212 (permalink)
 
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 kbit 
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looks like we are back on top of 3503...see if it holds this time...

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  #213 (permalink)
 
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I've taken a small short here at 3520 area, and am looking for 3420's and 3350's, so we'll see.

Mike

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  #214 (permalink)
 
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 lolu 
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My setup gave me a 30 ticks TP room/opportunity going upward to 3332 and off a congestion/flat zone a little while ago, but I did not take it, 'cos there is a Resistance @ 3538 at the moment, so I'll need to wait a little for an upward move (if it will happen at all), or wait for a long while for a down move .... I really want to sleep now; it's my night time.

Lolu

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  #215 (permalink)
 
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 Deucalion 
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Deucalion View Post
the downside impulsive waves are complete, the upward correctionals are pending. Where - dunno, seems a little bit muddy to me right now, but that wedge is telling, isn't it.

Thar she blows, 1.3600 seems very likely, the amplitude from the inverse head to the wedge line might propose abov 13700

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  #216 (permalink)
 
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 kbit 
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looks like it has decent chance of going up, just would have liked to see it shoot up to 3600 area and not pull back like this so soon...mixed messages to me. basically triggered that daily pin and is trying to either shake out a few or bury them...time will tell I guess

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  #217 (permalink)
 
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 Big Mike 
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Deucalion View Post
Thar she blows, 1.3600 seems very likely, the amplitude from the inverse head to the wedge line might propose abov 13700

I'm not convinced yet. First, most breakouts are fakeouts, and second we hit the daily R1 and it was met with a lot of resistance so far. But yes, the next few hours should make things more clear --- do we build on this breakout, or does it fail and we're left with a quadruple top (or more) resistance area around 3550's, which would be bearish.

I am still short. I added some at the R1.

Mike

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  #218 (permalink)
 
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 Big Mike 
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This is where we are right now:





Mike

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  #219 (permalink)
 
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Meh. Flat. Don't care for the upward trend my smaller chart is showing.

May try again later, but hopefully I'll be asleep.

Mike

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  #220 (permalink)
 terratec 
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(BPC) Breakout Pullback Continuation or top of Range?

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