I doubt yesterdays low will be taken out today.

EURUSD

50 pip fluctuations around London open is pretty normal.

EURUSD

Should be quite a few stops hidden above 1.3530.

EURUSD

No problem. Cheers.

EURUSD

This is why I think 1.3250 is a good support level on EUR/USD. See the green line. Look how many times price has respected this area. Add the 61.8 fib and it looks strong.

EURUSD

I agree that 50% retrace level is often a good area for a bounce on EUR/USD. Would be looking to tighten stops there if short.

EURUSD

Weekly candles — 1.3250 looks like a reasonable target if we break south. Weekly chart analysis showing doji/pinbar therefore suggesting further downside potential if support gives way.

EURUSD

Looks like EUR/USD could range in the 1.3430 - 1.3500 area during the Asian session . We are sat on strong support after good push down today.

EURUSD

EUR/USD is very hard to call/trade long term at this time in my humble opinion. I am taking small bites when trading this pair.

EURUSD

Nice post SC. It went to 1.6081 before reversing. You nailed it. I managed to squeeze a few pips out of this too but it was always going to be a quick trade for me due to interest rates annoucement. I love the London Open trades on low time frames ...

james16 Chart Thread

Oh, and the interest rate announcement could ruin the best technical trade plans :-)

james16 Chart Thread

I like your trade idea. The only thing I would be carefull of is buying after a breakout of those lows could be some momentum down. cheers fxp

james16 Chart Thread

If you can make money off the trendline I commented on fair play to you. Apologies if my post did not make sense to you.

james16 Chart Thread

We all see the markets in our own way. I'm consistently profitable trading break outs of precise trendlines. I appreciate that others can make money in other ways. If it makes you money it's all good.

james16 Chart Thread

I am very confident that no institutional trader had that trend line on their chart. A PPZ works as a zone because it shows interest in price at a value level. A trendlne is a trend boundary. Two very different things.

james16 Chart Thread

Sorry Dan but your trendline makes no sense to me. You have ignored all of the bars I circled. Do you think others will draw like this and notice your trendline?

james16 Chart Thread

I have this on my list of potential setups too as it's a weekly Pin as well... Looks interesting.

james16 Chart Thread

Very nice.

james16 Chart Thread

Gold — Give me another inside bar this week, inside the previous inside bar, and I will seriously consider a short. Gold does look pretty bearish.

james16 Chart Thread

To be honest you shouldn't need to wait if you trade daily bars. You can check in the evening for 30 mins or so then get on with your life. There is a minimal interaction with the market. cheers FXP

james16 Chart Thread