EURUSD weekly has recently hit a significant level at 1.08734 which caused the pop to 1.11813. After distributing and making a double top on 21st Oct – 5th Nov, we headed back down to test 1.09994. We are nowin the process of back-testing 1.10729. This week I will be looking for short scalps on lower […]
Tag archives: EURUSD
Trade #3: Prolonged EURUSD Scalp
Lots of discussion points on this one. Lets start by looking at the daily chart set up. The main focus here is the solid cyan line at 1.10560. This level has strong significance, not only being a previous swing-high, but also has importance on lower time frames. The red level is our primary invalidation point. […]
A Good Level Beats MACD Divergence All Day
This morning I’ve been looking for scalping opportunities on the lower time frame EURUSD chart. I’ve reinforced my opinion that the number one priority when looking for trades is identifying significant levels. The MACD is at best a lagging indication tool for momentum change, and at worse can actually hamper your trading decisions by creating […]
EURUSD Now Bouncing?
Yesterday saw a larger-than-expected pull back on EURUSD. From the 2-week chart we can see the significance of 1.10628 labelled above in purple. The high of the candle that made our recent low. Zooming into the 1-day time frame I have highlighted the congested area that I expect price to fall to if we break […]
Trade #2: Quick M6E Long Scalp
I’m still expecting a EURUSD to push higher either this week or next. I think 1.11230 needs to be tested on the monthly time frame. But it’s important to not form a bias around this. I’ve marked quite a few levels where long scalps are possible as we retrace the up-leg. The red level at […]
EURUSD Daily Looking Like More Upside
After hitting our significant higher time frame level and forming an ugly double bottom at 1.09058, we have rallied up to 1.11813 (purple level). Next week I expect price to eventually break this purple level, as it is our second attempt and there is still bullish momentum present. A pop to the 1.12155 area should […]
EURUSD High Time Frame Analysis
12-Month Let’s start this blog with some EURUSD analysis. The 12-month time frame shows we are currently retracing the leg from Jan-2000 to Jan-2008. From the highs of 2008 we dropped to 1.04151 support which originates from the high of the candle which made our Jan-2000 low. We have since rallied up to 1.23295. The […]