EURUSD in a TIGHT SPOT (15min Chart) !!!

Mornning All,

Looking for any setups and I’ve noticed that EUR in particlaur is in a rather tight spot. After a brilliant up movement yesterday on this Pair (that I know one of our students Izak took full advantage of) it has re traced somewhat over night. In doing so, the Pair has moved below the 50 ma and at present is sitting on strong support (intra day Pivot). As you can see from the chart attached below.

EUR trade setup - 15min Chart

My strategy has given me a signal to SELL.My RSI has broken the 50% line BUT it looks like it will turn. This will occur because the Pair has tested the strong support line. So could see a re-test of 50ma before we probably  see further movement to the downside. Those of you who are quick off the block could have put in order to go SHORT at the close of the previous candle (our signal candle) with your stop above the previous swing low (around 14095). 1st target would be around 14026 (200ma) which happens to be another intra day pivot line. 2nd target around 1400 line and 3rd 1396 area…

Those of you who would want to see a definite confirmation signal to indeed SELL would wait for the Pair to CLOSE BELOW the support area at 14064 before entering your trade.

I would do the latter and WAIT for a definite confirmation that this is a SELL. Too much congestion between 50ma and strong support at the moment. I would rather wait to be given a CLEARER signal that this is moving in the direction I think it will be going. Too many people get caught out in situation like this. My strategy has given me a signal BUT there is too many obstacles(mentioned above) at the moment to make it a genuine signal. This is where a CHECKLIST must/should be used. I’ve seen it countless times where one see signal and jumps in without checking to see if it’s a genuine one….. Let’s see what happens with this one!!!

Please ensure that you do your analysis prior to entering any trades. It’s vital that you do this analysis before hand.There is no need to rush your trades. Patience is key in trading !!! Learn to be patient and you will certainly become a better trader.

Have a brilliant day.

EURUSD – DAILY CHART SETUP

Morning All,

Please refer to the chart posted below for an update on EURUSD setup.

Notice how the Pair has formed a squeeze pattern on a DAily chart time frame. We are expecting a ‘breakout’ wither way. My signals are still pointing to a ‘bullish’ move – BUT we have to see the Breakout and close have to happen to the upside for this to be set in concrete. Either way – The next candlestick move would have to ‘close’ above or below the squeeze. Then we would work out our entry and stop loss, and trade accordingly.

Chart Setup on EURUSD 22nd June 2009 / Powered by Metastock

It would be best to have at a 4hr time-frame or hourly to look for any ‘indication’ that we are seeing a ‘bullish or bearish’ indicator to help us get a idea what the direction could be.

Euro to lose its head below the showlders daily chart.

Euro to lose its head below the shoulders daily chart.

Well good morning gang,

Here is a snap of the EUR/USD and things don’t look to bright for this pair.

As you can see there is a nice Head and Shoulders pattern that is all most complete.

One of the Serene indicators have given us a signal already.

I would wait for this to break the neck line and then look for my entry point.

Follow this as this is on a Daily chart and if it plays out this could be a really nice trade if you in it.

Once again do your own chart analyses, and remember to let the market tell you what its doing.

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4xchick , Edutrader , SereneEducation and TradingBabe

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Happy trading

EURUSD Set-up continued

Hi Everyone,

The EURUSD trade I posted is running out of steam / momentum – if you are in this trade – I’d close out at Break Even.

Cheers,

TB

Cable – bounced off R1 and down it went

Hi Everyone,

The other great trade was Cable, saw it bounce off the R1 level, and price made a lower high - waited for the price to take out the momentum low, went in at 1.696619 and placed my stop 35.8 pips away (above the momentum high and the R1 level).

Target was the Pivot Point at 1.6491 – 135 pips away.

Good luck trading.

TB

Aussie just went down, down, down…..

Hi Everyone,

For thise of you who follow me on twiiter – Icalled out some great trades today. I’ll be blogging two of them – because they are classics. I traded these in the morning as there was Non-farm payroll out in the US at 13.15 (GMT time), I wanted to make sure I was out of the trades before the data release.

I noticed that the AUDUSD kept testing the R1 level – but just didn’t seem to push through and on the third attempt it made an inverted hammer. Took my trade with an entry at 0.82434, placing my stop 21 pips away (just above the momentum high and the R1 level).

My target was the Pivot Point – that was 87.4 pips away.

Cheers,

TB

GBP move on the 1hr chart update

 

GBP move on the 1hr chart update

Hi traders,

Today I posted a blog about GBP on the 1hr chart.

I said that I was looking for a move to the upside.

I have just updated it as it took off and shot for the stars.

I believe that GBP might reach 1.70 as that is the next point of resistance.

Remember why I took this trade?

Have a look and see.

Leave some feedback for me to see if you got it.

For updates follow me on Twitter.

Also check out our website on Serene Education