This is for EURUSD only. I did check out Alex' 6E EU thread and the last post was 2 months ago so without disrespect to him Ill consider it anactive . If Im mistaken please speak up because I feel we could benefit from a thorough examination of this instrument by anyone wanting to add their insight .
I trade this because it ranges well and is highly liquid making for some interesting trading opportunities . Right now my everyday routine is just watching and enetring / exiting same day using mostly one price pattern that I find to be pervasive on any time frame and am open to any ideas and opinions .
Im no expert and consider myself mildly capable so please post at will even if its your 1st trade ever . Just keep it EURUSD and all else is fair game .
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Just spot EU . The longer timeframes ( like 60 min. + ) 1800 est - 1300 est . On the shorter timeframes depends on what news is coming up and price action around key areas . I spent lots of time spinning my wheels tring to microanalyze and find that price makes its move different times . It appears to me that when whoever the "forces that be" (like banks and such) decide to get into position its usually around a level of support or resistance and psych levels , not always but usually and those areas are a good place to start looking for a signal .
This dude trades the pattern I prefer . I found you can be subjective with the way you want it to form as long as you use it the same way each time and for each circumstance . That is - be consistent and dont twist things around to fit your opinions - let it come to me like a good doggie .
Let the bulls have fun . Ill check back later to see if they look weak around the trendline 3980ish but for now I wouldnt short that . First maybe see if support at around 3900 -3880ish happens and stay with the flow .
Eric i could not agree more ...Eur/usd will find some resistance over at 3947-90 region 3947ish is ur 61.8 retracemnt .. So for me .. at this moment till 4000 level holds .. Its time to build some Short positions .. this is purely swing trade .. !!
Swing trading Goes along beautifully with technicals.. !!! Now it will be intresting to see what markets want to do .. There is support at around 3700-3680 area from the move up .. so if markets want to reverse that will be something to watch . and if that not .. then we can have a 1:1 move down towards till 3605 Its a wait and watch game..
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