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Is it time now?uhm…..EURUSD

by Gav Leave a Comment

We had an exciting week for EURO. Now, it looks kinda bullish, and poised to break historical high again. OK, no sure thing, but chances are there. There are a lot of reports/commentary from G7 meeting. It depends on how do you read it. Again, I am not a financial analyst, so nothing much I can comment about. Chart wise, I am still in bullish position. I am looking for long opportunity at the moment.

Here is the…..CHART!

[photopress:eurusd13april2008.gif,full,1]

And here is the …..Trend Score! Obviously, we are still in strong uptrend.

[photopress:eurusd13april2008_trend.jpg,full,1]

About the tool

Filed Under: Trading Journal Tagged With: Forex Blogroll, FX, Trading Journal

Reader Interactions

Comments

  1. jay says

    at 7:39 pm

    Gav, chart-wise I’m inclined to agree. But that statement — the language in it — could cause a reaction in the other direction. They used language this time around that they haven’t used in awhile. Big players who are long now could take profit, which would open the way for drop of a couple figures lower over the next few days…or maybe a few figures. I dunno. I do think, however, that the market — the bigger specs — will try to test the G7’s commitment to it’s rhetoric later in the week. Tuesdays and Wednesdays are my reversal-watch days. I suppose all we can do is watch price, yeah? And then trade the plan.

    So…what could one do? Wait for the reversal and trade the hook? Fade the correction by scaling in? Bracket the market for a breakout play? Or drop down a few time frames and trade pullbacks on intraday momentum off of key levels (or the POC)? Or any combination of the aforementioned? Man, the possibilities….

    You had a good week last week and you should have a good one this week. Good luck buddy.

    Reply
    • Gav says

      at 8:47 pm

      Jay, I agree with what you’ve said. As usual, I can be totally wrong.. But, ‘Big playes who are log now could take profit’, is this our assumption/guessing or result of analysis? uhm…

      So, if I were to trade, I will go for small that usual size, be it a reversal or breakout , whatever. Anyway, I will watch first, that’s for sure. I am not jumping in immediately ๐Ÿ™‚

      Have a great trading week ahead.

      Reply
  2. jay says

    at 6:39 am

    Gav, chart-wise I’m inclined to agree. But that statement — the language in it — could cause a reaction in the other direction. They used language this time around that they haven’t used in awhile. Big players who are long now could take profit, which would open the way for drop of a couple figures lower over the next few days…or maybe a few figures. I dunno. I do think, however, that the market — the bigger specs — will try to test the G7’s commitment to it’s rhetoric later in the week. Tuesdays and Wednesdays are my reversal-watch days. I suppose all we can do is watch price, yeah? And then trade the plan.

    So…what could one do? Wait for the reversal and trade the hook? Fade the correction by scaling in? Bracket the market for a breakout play? Or drop down a few time frames and trade pullbacks on intraday momentum off of key levels (or the POC)? Or any combination of the aforementioned? Man, the possibilities….

    You had a good week last week and you should have a good one this week. Good luck buddy.

    Reply
    • Gav says

      at 7:47 am

      Jay, I agree with what you’ve said. As usual, I can be totally wrong.. But, ‘Big playes who are log now could take profit’, is this our assumption/guessing or result of analysis? uhm…

      So, if I were to trade, I will go for small that usual size, be it a reversal or breakout , whatever. Anyway, I will watch first, that’s for sure. I am not jumping in immediately ๐Ÿ™‚

      Have a great trading week ahead.

      Reply
  3. the IDF kicks ass! says

    at 3:14 am

    or u could just wait for that giant triangle to break one way or another!

    Reply
  4. the IDF kicks ass! says

    at 2:14 pm

    or u could just wait for that giant triangle to break one way or another!

    Reply
  5. Jay says

    at 1:11 pm

    That’s what I meant when I said “bracket the market for a breakout play”…but EURUSD is tough on breakout traders…that approach isn’t for the faint of heart!

    Reply
  6. Jay says

    at 12:11 am

    That’s what I meant when I said “bracket the market for a breakout play”…but EURUSD is tough on breakout traders…that approach isn’t for the faint of heart!

    Reply
  7. Lucas says

    at 1:19 am

    Never doubt the power of Big Ben to smash chart theory. I see it lower.

    Reply
  8. Lucas says

    at 12:19 pm

    Never doubt the power of Big Ben to smash chart theory. I see it lower.

    Reply
  9. jay says

    at 7:06 pm

    @Lucas: Amen.

    Reply
    • Gav says

      at 7:37 pm

      Jay: LOL ๐Ÿ˜†

      Reply
  10. jay says

    at 8:06 am

    @Lucas: Amen.

    Reply
    • Gav says

      at 8:37 am

      Jay: LOL ๐Ÿ˜†

      Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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