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Eur/USD
- Thread starter ForexPro
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Although there was a challenge to the 2837 level near the end of the day. It held. I am still short for now from 2925.
DRT
DRT
Quote from downrivertrader:
I agree. I think there may be a big pop out of the 28 level also. Key area for more reasons than just being an even number.
Here's what I see in general....
1.2837 area - If we build value around here and close back above at the end of the day. It may be time to close up shop.
1.2777 - This is the next key level down and a big one. I expect a pop out of here and then above applies. Building value here and moving thru this level in the wake of the Thursday announcement would be very bearish
1.2636 - next level down.
1.2435 - This is really the key. There will be massive buying here if it ever makes it. If we build value down here and move below. I will load the truck with some more has I see a move much lower.
If the ECB would just say NO hike. I will feel better. Bond market is sending me mixed signals also.
DRT
PS - I am watching the USDJPY closely. The move above 112.50 was very significant in my opinion. So far it has not been knocked down substantially. If we settle comfortable above this 112.50 level today, I see some big moves up here also. Jury is out on this but I am long for now.
Nice downmove on the EURUSD. Its at the 100EMA level on the H4 timeframe. As always remember that 50 (not on H4 though)/100/200 EMA levels can act as significant S&R levels. This is due to market participants (particularly trend followers) focusing on these levels to initiate positions.
I covered my shorts with nice profits (entry at 1.2900 with exit at 1.2822. stop was on the upside of the S&R level at 1.2932).
I am going to wait for break of the 100EMA and the trendline on the EURUSD H4 timeframe before initiating positions.
Nice job on the short as well DRT.
I covered my shorts with nice profits (entry at 1.2900 with exit at 1.2822. stop was on the upside of the S&R level at 1.2932).
I am going to wait for break of the 100EMA and the trendline on the EURUSD H4 timeframe before initiating positions.
Nice job on the short as well DRT.
Ivan,
Did you see the metrics summary from Jack Crooks today. This was what I was trying to say, but he did it in a much better way.
Not sure if it will hold up, but when you remove all the emotion this is what it boils down to.
DRT
Did you see the metrics summary from Jack Crooks today. This was what I was trying to say, but he did it in a much better way.
Not sure if it will hold up, but when you remove all the emotion this is what it boils down to.
DRT
Same to you. Nice trade.
Right now I am holding my short. 1.2750 is the key value area for the EURUSD. Up until this weekend, I had been planning on taking a long on a spike down in front of this area which may happen today. We would then push on up to very high levels. I changed my plan this weekend after further high level consderation. I am in my trade with a nice profit and if the bounce gains momentum I will cover. What I really want to see is this 2750 area give way and a settle below. My target is now much lower. It's a toss up in my opinion. If the bounce does occur then I will get long up above 2837 or above somewhere.
Even riskier is my long position on the USDJPY. I use this as a barometer for change. I see signs of this pair heading back up to 120 instead of the lower levels I think most are targeting. If this scenario begins to play out, I will feel much more comfortable with some modest dollar strength.
The markets always tend to surprise us don't they. We are all quick to forget when emotions take over.
Good trade on the short.
DRT
Right now I am holding my short. 1.2750 is the key value area for the EURUSD. Up until this weekend, I had been planning on taking a long on a spike down in front of this area which may happen today. We would then push on up to very high levels. I changed my plan this weekend after further high level consderation. I am in my trade with a nice profit and if the bounce gains momentum I will cover. What I really want to see is this 2750 area give way and a settle below. My target is now much lower. It's a toss up in my opinion. If the bounce does occur then I will get long up above 2837 or above somewhere.
Even riskier is my long position on the USDJPY. I use this as a barometer for change. I see signs of this pair heading back up to 120 instead of the lower levels I think most are targeting. If this scenario begins to play out, I will feel much more comfortable with some modest dollar strength.
The markets always tend to surprise us don't they. We are all quick to forget when emotions take over.
Good trade on the short.
DRT
Quote from mahras2:
Nice downmove on the EURUSD. Its at the 100EMA level on the H4 timeframe. As always remember that 50 (not on H4 though)/100/200 EMA levels can act as significant S&R levels. This is due to market participants (particularly trend followers) focusing on these levels to initiate positions.
I covered my shorts with nice profits (entry at 1.2900 with exit at 1.2822. stop was on the upside of the S&R level at 1.2932).
I am going to wait for break of the 100EMA and the trendline on the EURUSD H4 timeframe before initiating positions.
Nice job on the short as well DRT.
I hope its okay to do this. I thought is was very interesting and would help so if I am not supposed to do this, I apologize. This the free report that he sends not the subscription service.
DRT
DRT
Quote from Ivanovich:
If you mean Jack's 6/7 report - haven't gotten to work yet. He emails it there.
Attachments
Well the 2837 level held last night. We are working the 2777 area as of 11:00 today. This is about where I had planned on getting long and it sure looks like it wants to explode out of here. I am staying short with a move back above 2800 convincing me to close up. If we somehow get thru the 2750 value area, then a move down from value, my short will have more of chance to make some serious profit I think.
Still short from 2925.
DRT
Still short from 2925.
DRT
Quote from downrivertrader:
I agree. I think there may be a big pop out of the 28 level also. Key area for more reasons than just being an even number.
Here's what I see in general....
1.2837 area - If we build value around here and close back above at the end of the day. It may be time to close up shop.
1.2777 - This is the next key level down and a big one. I expect a pop out of here and then above applies. Building value here and moving thru this level in the wake of the Thursday announcement would be very bearish
1.2636 - next level down.
1.2435 - This is really the key. There will be massive buying here if it ever makes it. If we build value down here and move below. I will load the truck with some more has I see a move much lower.
If the ECB would just say NO hike. I will feel better. Bond market is sending me mixed signals also.
DRT
PS - I am watching the USDJPY closely. The move above 112.50 was very significant in my opinion. So far it has not been knocked down substantially. If we settle comfortable above this 112.50 level today, I see some big moves up here also. Jury is out on this but I am long for now.
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