Fx futures Journal

I do not see any 30 minute uptrend line on Euro FX--I do however see a 30 minute downtrend line.

Batman RSI attachment

 

Thanks. Here is the TL I am referring to.

I wasn't aware of the batman figure. Will look into it.

 

Looks decent so far. Not enough strength for me yet.

 

Are you still bullish on AUD?

1. EUR/AUD looks weak on weekly chart (H&S)

2. Currently you are still bullish on EUR (vs USD)

3. EUR/AUD seems to track EUR/USD (looking @ weekly chart) or they track each other, whatever

4. But H&S on weekly is one of the most reliable signals on another hand.

 

BY the way, Romik was dead on in the Yen trade when I disagreed with the bearish divergence. I gave back most, but not all of my long Yen futures profits.

 

Why wouldn´t you guys want to wait till we reach the previous lows at around 8516?

This recent down wave was very pronounced, therefore its not reasonable to expect for it to stop before this major support.

After that and a successful test, I also think we´ll have a major bottom in place.

I am talking about position trading only.

 

Longer term , I think Aussi is still bullish however a breach of Monday's low will create a shorting opportunity I believe. As far as Eur/AUD, I don't follow that one. Longer term I am also bullish on EUR/USD , however, again a breach of Monday's low would create a good shorting opportunity and perhaps a change in long term direction. As far as Head and Shoulders, I don't look at that as I feel that people can draw it and see it however they feel and it becomes very subjective. The same could be said for trendlines in my view. I prefer reaction lows/highs and mathematical indicators as I feel that they are much less subjective.

 

I have just been doing some intraday longs and have been wrong so far.

 

For me it could be too much time on my hands...=)

Agree with all your comments.

 

Thanks for reply, personally I don't feel the same re - H&S on tf like weekly.

I know you do not follow cash FX, but as these 2 seem to follow 'each other' on longer TFs and there is a possibility of a BRD on EUR/USD and a definite bearish H&S on EUR/AUD makes me think that EUR has topped. But I understand your way of evaluating this situation.