If EurUsd can bust the Oct 2 daily close = 1.4542, there will be downside acceleration. Also most likely, Macd will have crossed the 0-line by then. Right now the entire current 6-day daily consolidation is sitting smack on the December 18 spike top. I would imagine trendfollowers like Ed Sekota and gang would enter short only below 1.3723, i.e. below the consolidation/congestion & 200-day m.a.
Yes. Here are my reasons ... I need an intro 1 mL position. So I'm in for the haul as long as Oct 26 top is intact. Higher? OK, I'll add 1 mL. >>> short in a 1H uptrend <<<< see EurUsd 60-min. clean chart showing my definition of 1H trend keeping in mind that a trendline also defines trend. Wouldn't mind you tearing apart my misunderstoods. Welcome it in fact. Feel free Viper. Much obliged.
TA is fantastic when markets are allowed to roam freely based on supply, demand, fundamentals, speculation, etc. But you're trying to short in a maddeningly corrupt and manipulated market that is being prevented from going in the direction you need it to go, and the folks against you have an infinite amount of money more than you. TA is completely and utterly useless here. Suicide, in my opinion.
E/U has been in a range since the 28th. At the moment, near the top of the range again. FOMC is at 2:15. Better for me to hide and watch.
One other thing, Viper ... Re: 1H chart EurUsd See the 1H Oct30 wave top bar? for a 1H trend reversal to be a solid signal, I require not just a higher close, rather after the higher close, there must be 3 additional bars completely out of the range of the high of that Oct 30 wave. Only then is there a confirmed signal. This 3-bar requirement would appear to sacrifice alot of pips, but I find it keeps me out of many false signals. critique welcome
Thanks boss. With all the talk about EurUsd being the highest vol instrument, 10 times or more the size of NYSE vol, 3T per day, what org has this tye of firepower to manipulate it?
No org can manipulate it directly. But indirectly, the shepherd can lead the world by: 1. Providing free liquidity to the system. 2. Devaluing the dollar with reckless abandon. 3. Buying up equity markets worldwide (the so called "risk" trade). Inadvertently, this results in the manipulation of EUR/USD.
LOL Hey what's this, averaging!!! :eek: Why didn't you scale out and let some run for a bit, it pays pretty good interest too!