he he he nice rply Triantus Shango ...
I am 10000000% bear now. My buy stops got hit for a reasonable piploss, & now im just mass selling.
Looking at this price action today, market acts like it's given up on the fight (euro that is), it can't even retrace the downfall properly (unless its doing that now abit?) it just seems to get sold off when it tries. I strongly believe this is the end of the retracement on the monthly/weekly timeframe, and looking forward to the coming weeks of selling.
Although some minor retracement could happen the market is now back in downtrend & broken most bullish patterns.. Plus there is upcoming trashings for the euro in the news releases in the coming days.. AND the price action is firmly bearish.Hello Sive and all traders!
Was not exactly what I had expected but close. I am long now and if low is in place then I expect 1,2700 - WR1 area. Best buy for me is at 1,2450 and if it comes I will add bigger position, stop at 1,2430 .
Have chaged time frame on 6H because it is less noise. I like what I see, sitting on WR1, 88,6 and so on. On lower time frames I almost lost counts - it was like a worm.
Good trades to all!
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Thanks, just keep an eye on the events here Forex Calendar @ Forex Factory and be careful with your longs.. we have the US pending home sales Wednesday too and going on consensus looking at the figures for current/predicted this could push the euro down quite a lot too! Market is looking choppy on lower time frames i'm monitoring it too in case i'm wrong.. But still seems to me it is struggling to push up & Price action is still really bearish.. Also Sive said market could retest the upward trend line & then kiss it goodbye which is what it did at the beginning of the week, if you check out 4hr timeframe you can see where it did this.Hi Louis,
I am monitoring the development on lower time frames. Regarding news have no clue what news can be released to hurt euro more, Spain is under control, almost, other will come later.
Good trades to you too!