Ouch,Ceiling is quite hard !!!

Morning Guys,

Beautiful start to our week here in Builth Wells. The sun is out and (touch wood) it will remain out for the rest of today and the week for that matter. The Welsh Show is taking place in our sleep town and boy has the population swelled over the past couple of days. This place turns into a mad house for the next 4 days… Population before the show, 1000 during the show 200 000 plus apparently (this is split over 4 days mind you). NUTS!!!

EURUSD Monday Intra Day Analysis

Anyway, back to the chart. Today I’m looking at EURUSD. On a Intra Day chart we have loads of Resistance above us (see charts attached below of 1hr & 15min).The Daily Trend is still Bullish, but on a smaller time frame – more undeceive.

EURUSD Monday Intra Day 15min Chart

The Pair needs to break above 14175 to be Long today.  With 1st target at 1423, 2nd target at 1429 to look at. Alternatively, if this fails to break above this ceiling area at 14175, then going short to 1st target atr 1412,2nd target 1407 & 3rd target at 1400.

Please ensure that you do your own analysis prior to entering into any trades.

Have a brilliant day and remember to trade Serenely

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.

Grab & Run Trade on EURUSD

Hi,

Just wanted to update you with a trade I’m in on EURUSD,

The Pair has broken above 200 ma on HOURLY CHART. Break above  this early this morning and has now found support (7am GMT). Long signal , Pair above 200 ma , look at next pivot line at 14020.

My Strategy  gave me an  entry signal the candle high on signal bar (13988). 1st target is 14020.  2nd target @ 14065, 3rd target @ 14105….

EURUSD trade 1hr Chart

Until next time, trade Serenely !!!

Serene Education

EURUSD – Squeeze Pattern on DAILY CHART

Morning Guys,

EURUSD squeeze pattern formation. This has been forming over the past week or so. Price has consolidated after a BULLISH since mid April of this year. The Pair has pulled back to the 50ma (light blue line on chart).RSI has moved back over the 50% line. The pair needs to be trading ABOVE 14200 to be a potential LONG signal OR trading BELOW 13825 to consider going SHORT.

EUR Squeeze Pattern - Dail Chart

Please ensure that you are doing your own analysis prior to trading at any time.  It is very important to have good trading skills BUT it is paramount that you have BETTER money management rules to compliment your trading style.

Here’s to a great trading day

Serene Education

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.

Possible Head & Shoulders Pattern Formation on EURUSD – Daily

Morning All,

Just wanted to bring your attention the possibility of a Head and Shoulders Formation forming on a Daily time frame on EURUSD pair. The Euro has battled to go higher than 1.45 against the dollar in recent weeks.Price on Eur is trading below the DAILY PIVOT @ 1.385. If Price cannot close higher than this today, it will confirm that the Head and Shoulders and we should see price move lower over the coming days.

If Price however closes above 1.3940 area should cancel out the formation and we should see Price re testing previous highs around 1.45

Head & Shoulder Formation on Daily Chart 16th June 2009 - Powered by Metastock Charting Software

Please ensure that you do your ‘homework’  prior to placing any trades today. There is a lot of news out and volatility will be a major factor to watch out for. It’s far better to ‘bide your time’ and let the market play it’s hand before making a decision. Too many people get caught up in the moment and that if when mistakes come into play. You do not want to trade on emotion. Trade what is shows you on the Chart…

All those of you out there who are thinking of learning more about how to trade Forex , or who would like to ‘brush up’ on the Forex skills, have a look at our ‘Live with Trader’ deals we have on our website. Click here for more details

Have a great day

Chris

Breakout on Hourly Chart – EURUSD

Hi Everyone,

Quick Update. Just seen EURUSD break out of a squeeze pattern on an hourly chart. All my indicators are still pointing to a BEARISH trend.

BREAKOUT PATTERN ON EURUSD - HOUR CHART

Next support  138.60 area.

Well Serene Traders hope you are all well, and have been busy trading.

Things have realy been looking up for most of us traders, but still find a few nice setups that are to the short side.

Here is EUR/USD and it looks to be setting it self up for a short sell.

I see a DOUBLE TOP and not too mention that its in a CHANNEL as well.

If you look at the snap, I took I have marked the CHANNEL out in YELLOW and then 2 TREND LINES out in PURPLE.

As you can see it has broken the TREND LINE and might be looking to test it and then push back down or even break to the UP side.

I would watch this one very closely and see what IT DOES.

Please don’t just TRADE this with out doing your own analysis of the CHART.

Happy Trading.