Euro Retracement Part 4

Above is a 60 minute chart and you can see we have hit 0.618 fib and also 288 bars are shown as a turning point on Tuesday. From both charts using fib price, time and if you check your MACD for divergence, the analysis shows for a change of direction.

I will not be posting on Monday as it is my B'day so hopefully you all see this over the weekend and decide your strategy from there. Remember to do your own analysis before placing any trades.

Have a good weekend.

Euro Retracement Part 3

Above is the Euro Daily Chart. According to my analysis, it seems we are due for a turning point around Monday which is the next trading day after the 21st.

Euro Retracement Part 2

I mentioned in my previous post that the market still looks slightly bullish and that we may well hit 50%.
Today we climbed to slightly below the 50% retracement zone and although I still think we might want to wait a bit, we have a divergence forming on MACD histogram and signal line. Unfortunately I once again am not able to keep an eye on the market but if you have a chance to glance at your screen every so often then look for a decent candlestick reversal for taking up shorts.
I won't be posting anything tomorrow so good luck and have a good weekend.

Euro Retracement Part 1

As most of you may remember, a typical retracement is 50% and 61.8%. We hit 38.2% yesterday and as the market still looks a little bullish so we may continue with consolidation or an uptrend for a little bit. However, position/swing trades should not be concerned by this correction but if the uptrend were to surpass all the fib retracements then the position would need to be reconsidered.
I would not advise to open any long positions based on what I have said as the uptrend is too limited.
Once again, the correction at or around pivot points or main fib numbers are good areas to open your orders.
Remember, the trend is still down.
No chart attached as nothing much has changes since last night.

Best of luck.

Euro 60 minute chart

I thought I would post this chart for everyone so you can see the fib values. As of 9.30pm today we have hit 0.382

Good luck tomorrow. I shall try to post some information before 9am if I get time.

Rally

Don't forget to sell the rallies. We are still in downtrend so for trading purposes rallies are just selling opportunities especially for swing and position traders.

Break below

We need to break below the recent wave 1 for a continuatiuon.

Euro bounce

We may get a Euro bounce soon as it has begun to look oversold.

Updates will be at a minimum this week as I will be very busy with other things.

Good luck.

Time

Good morning all.

For those swing trading Euro, I hope we have all had a successful start to the day. You may wish to scale out to gain some profit around the 12525 area.

I have added the chart above to show a fib time chart for a couple of you who asked and as you can see, the recent high of wave B was around the 1.618 fib time. The three main factors concerning trading are price, chart pattern & time. Everything on the Euro chart has all of those. I must stress though and I know I have said it many times before but for those of you who are new, no matter how fantastic a chart may look, nothing is guaranteed so trade wisely.

Good luck everyone and thank you to those who have donated to charity.