Thread: EURUSD MultiTimeFrame

US news not great, long again, but not anticipating a runner before Draghi, a BE position at best to be set for the big news today.

Outside breakeven, no follow through, a srong bear signal bar instead - double top bear flag, some bulls probably trapped, reversed to Short. Strong bear entry pub, larger pub, near reduced, will endure for a lower low if follow within three pubs, targeting 1.245.

-- no instant follow throug, breakout pullback, bull inside pub, strongish, next two bars key for bears.
-- yet another bull doji, trying to depart at BE or scratch with reduction
-- out with two pip loss, but re-entered market down, outside expanding range
-- trending figures, 3 consecutive bear closes, tight bear channel emerging
-- took 0.1 off at 9 pip profit, cease to close BE, swing the rest, leaving until Draghi. Stopped out.

Going back to my long idea -- will wait for 1.432 place to be analyzed before buying.

Buying pressure emerges at the top of the anticipated support zone, looking to buy. On 1H, it seems somewhat like closing flag from the former consolidation before news, which might fail. Tight end of course. Seeking to get out breakeven if run, and reestablish as a tight fade buy on the road lower down to 1.43.

OUT only below breakeven, doesn't look good for the bulls.

Re-entered buy back on the outside up bar, thinking any up momentum out of this amount may nevertheless lead to panic brief covering and always-in extended again. But want a close above EMA within the upcoming few bars, somewhat risky.

Tick up-tick down pretty intensive, seems like something's about to moveup or down.

No, seems a dead cause, out -2 pips.

EU 5M
Looking to Short EURUSD. Currently seeing a bull effort 5 min to break over the bull channel median line. However, the bulls have had three successive buy climaxes and some selling pressure is more evident. Trailing a Sell Stop order below bull bars for down an outside movement, but will be seeking to scratch if no high bear momentum. Seeing this as a pullback on the big bear spike earlier in the day.

Gt;gt; Stop order never triggered, entered fade Sell at bar 24.
Gt;The current bull channel appears like some traders trying to position or leave places before the news. If new bulls are buying, their ceases beneath are still a target. On higher timeframes, 15M to 1H, the bull channel appears like a strong microchannel, which might breakout strongly in either direction, but I feel that a bear breakout is much more likely as bears appear to have established a broad bear channel and may want to try beneath the current and yesterday's lows, given that the current signals off the low of the day were not too persuasive.

Seeking to buy EURUSD today. On the daily chart I see a double bottom following two closes above the 20 EMA in recent weeks. In the lack of significant news until Wednesday, longer-term bears may be eager to take profits about 1.237 and bring fresh buyers, too. Technically, we have had a clean Low 3 selloff on the daily chart, a perfect scalp for bears on the daily chart, and fast and easy frequently means no follow through. The up movement that followed German news now shows many traders could be thinking at least a retest of the daily EMA from the bulls. I would expect a somewhat tight range , around 40 pip or so, with a potential breakout to the upside.

On 5M we have had a fairly strong bull station (grinding = accumulation?) Followed by a huge down-big up move, which means range play larger overlapping bars. Looking to buy retests of this 1.237 level or a bit lower with a tight prevent or perhaps to chase the bulls onto a strong breakout style setup.

Updategt;
Bars 13-14 broke over two bear micro trendlines, higher momentum, awaiting a signal bar to buy at or below the Low of Bar 1. The maximum measured move target for the current bear tight station is 1.2379. A break below will flip Always In to Short.gt;

from my very long, 30 pip, faded the Trading Range breakout on another sign short, targeting at the lows of pubs 5 and 12 for retest.

Gt;gt;Update: the brief does not seem good, will depart BE if struck
gt;gt; BE stop not hit bar 42, added to the brief as bar 43 shaped a micro double top, 2 pip stop loss.
Gt;gt; stopped out,
gt;gt;re-entered as likely a bull trap, stop very tight again. Bull entrance bar 45 was triggered on another sign sell Low 2 installment, however, the second sign bar 44 had a bull close. Means either a weak setup along with a rally will follow, or, hopefully, new bulls are trapped along with a larger selloff will follow. Expecting a spike.
Gt;gt;Eventually stopped outside BE.
Gt;gt; Did a few more fades then and got tight ceases struck, but then eventually caught a swing 30 pips. The afternoon was down USD 20. It was a mistake to reverse to brief after the first entry. Just proves my point that one idea is enough and what matters is sticking to it to the end, because the first plan is often best thought out, not so with new ideas which come to mind while trading...

On the daily chart, EURUSD has set up a double underside major trend reversal -- a perfect double bottom to the pip, and the bull sign bar was very strong, shaved top and underside. The prior underside signal bar was likewise strong. I'd anticipate a range afternoon today, and probably a bull trending range, which may break out to the upside. Searching for longs. We have experienced the first bull spike and I am looking to go long on pullbacks having an ABCD test -- in bull channel shape -- over the high of the day since the minimum goal, and hoping that the breakout could proceed much farther. Alternately, if the range becomes protracted or breaks out to the disadvantage, will still be looking to buy as a retracement on yesterday's powerful daily signal bar.

Gt;gt; UPDATE: scaled so long on pub 8
gt;Bar 11: substantially selling pressure, tight range, exited some and tightened to BE overall.
Gt;Bar 12: bull BO, spike, close near large, Bar 13: breakout pullback, buy the close, but prepared to scratch.
Gt;Bar 14, scratched two entries, no immediate trace through, mid-tight trading range still a magnet, appearing to buy lower.
Gt;UPDATE: a bear Lower High Major Trend Reversal setup, resembles a harmonic Gartley pattern. If it breaks out to the disadvantage, looking to buy about 1.242 if there is a strong sign there, then leaving it one way or the other at the meantime.
Lt;UPDATE, 2 pm: Bears broke two bull TL's, looking to fade a breakout test of their first trendline preceding Bar 25 high - LIMIT order -, tight prevent. Expecting possible Gartley perform in the runup to news.gt;gt; CANCELED the limit order, will hesitate to buy lower.

Bar 3: a very feeble Low 1 sign for bears.
Bar 4: Failed Low 1 (Entrance Failure) and instant bull spike, first goal reached.

Outside with profit, turned to short as a Two-Bar Reversal formed in a Double Top bear flag.

Exited the short with small reduction on pulback as Second Entrance Sell failed.