Forex Signals – EURUSD Sideways Consolidation
Important Poll! Please vote! Background: we are considering changing our trading schedule. Currently we do not trade Fridays due to lower volume that can create volatility. We also end up sending out an intraday update about 30-50% of the time on Mondays to give the charts a bit more time to develop. What we want to do is officially BEGIN trading Fridays (as we’ve noticed these days would actually be some of our most profitable days) and officially ALWAYS do an intraday update on Mondays. This would effectively give us another full day of trading while always giving the charts more time to develop their setups after the weekend. It sounds like a win-win to us but we want your feedback!
Today’s Poll: [polldaddy poll=6413347]
Recap: Our long was triggered at 1.2136 at 11:09 UTC. It went nowhere and our entry candle closed at 1.2108 for 30 pip loss.
We are still bearish on the pair but unfortunately it has been consolidating sideways since markets opened on leaving us without a clear rising support. There is another falling resistance and, despite the fact that Monday’s long didn’t pan out we will give this one another shot.
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Trading Idea: We are looking to get long on a resistance break with targets at 20/20/20/20 for 80 pips profit. We are overall bearish and will look to close and get short on a resistance break with the same targets.
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Mongoose
July 24, 2012 at 15:10Thanks Mark, I think that is a good idea!!
PipHut Team
July 24, 2012 at 15:24Thanks @mongoose, so far it looks like everyone agrees :)
sahara
July 24, 2012 at 15:16hi @all grrrrrrrrrrrr had a problem with my key 3G !!!!! grrrrrrrrrrrr!!
Tuan
July 24, 2012 at 16:44Look like EUR has no strength to go for upside…
Appie P
July 24, 2012 at 16:53have long E/U position @2052
Maris Sturitis
July 24, 2012 at 17:22I think EU will go down…
Appie P
July 24, 2012 at 17:37@stu you have a E/U short position?
Maris Sturitis
July 24, 2012 at 17:40Yes… @ appie
Chip
July 24, 2012 at 17:45I agree @stu, but we may see some short covering in this area so we may bounce a bit, so @appie should be able to close the long in profit.
Appie P
July 24, 2012 at 17:49Yes @Chip TP 2075 now
Chip
July 24, 2012 at 17:56I joined you @appie in the North train @1.2057 sl @1.2050 and tp 1.2075, we should get there … ;)
Chip
July 24, 2012 at 18:01sorry sl @ 1.2040 (speed typing)
Appie P
July 24, 2012 at 18:10Now let the North train start … :-)
Chip
July 24, 2012 at 19:56close to tp, good job @appie!
Johnny
July 24, 2012 at 17:43Grrrrr got a call and had to go outside, just back.
The push downs for now: 59-64-70
The push ups (yes, I got them as well, took a while but they finally showed up on my chart again :-)) for now: 46-43-39
Lets se if we can get this baby moving up?
Appie P
July 24, 2012 at 17:46@johnny going above 2066 will be great, thanks for the pushing levels.
Johnny
July 24, 2012 at 17:48still long @72 and stop @30 (came close :-)) but no real sustain breach of 2150 (yet).
Hammer on H1 and Daily still…. And ugly mean Bull Crab pattern still on H4 (which is probably scaring the bears to move in closer :-))
Appie P
July 24, 2012 at 18:02S1=1.20785
PV=1.21084
sahara
July 24, 2012 at 17:51sahara golding !! grrrrrrr with my internet problem i have not close 1584 !! (add in low hope will brke again !! 1580 high 1584 today another high or killed again ::
Johnny
July 24, 2012 at 17:55Gold Bull hammer on H1 but SS on H4 !
Johnny
July 24, 2012 at 17:57Smaller TFs Gold SS on M5 but PL on M15…
sahara
July 24, 2012 at 18:00it s a inverted hammer in 8 h !! isee it !! is it a ihammer or a ss !!! if @Mark is in area a help pls!!
sahara
July 24, 2012 at 18:04hourly gold http://imageshack.us/photo/my-images/836/hourly.gif/
Johnny
July 24, 2012 at 17:57And M30 also SS….Just to your info @Sahara…
Johnny
July 24, 2012 at 17:59@Appie in another 15/20 mins we may see some movement…According to my watch…Lets see?
Johnny
July 24, 2012 at 18:02@Chip – would advise to put you sl just below 46 since thats the first push up level (But not sure it will hold? Mine is below 30 :-)
Chip
July 24, 2012 at 19:57sl @ break even now @Johnny … thanks for the tip
Johnny
July 24, 2012 at 18:14@Appie One more minute according to my watch…Lets see if we can see some move here now?
Appie P
July 24, 2012 at 18:16yes let see :-)
Appie P
July 24, 2012 at 18:17You have right @johnny UP UP UP
Johnny
July 24, 2012 at 18:2918:28 PM UTC | Viewing 1-3 of 3 signals.
Candle Info Forecast Strength Trend 10 Candle
Profit / Loss
EURUSD
New Candle!
2012.07.24 18:15
Hammer
Timeframe: 15m
Close Price: 1.20550
Candle Open: 2012.07.24 18:00
Profit Factor high: 4.80
bullish
53 /100
-
-
EURUSD
New Candle!
2012.07.24 18:00
Bullish Engulfing
Timeframe: 30m
Close Price: 1.20560
Candle Open: 2012.07.24 17:30
Profit Factor high: 16.40
bullish
47 /100
-
-
EURUSD
New Candle!
2012.07.24 00:00
Hammer
Timeframe: daily
Close Price: 1.21230
Candle Open: 2012.07.23 00:00
Profit Factor high: 1.87
bullish
100 /100
-
-
Johnny
July 24, 2012 at 18:31This pair is giving me a little headache at the moment :-( Going to have a coffee first….
Tuan
July 24, 2012 at 18:39Wish you have a good coffee my friend, I have just take a long @1.2055 SL 1.2020 no TP, I will close if the bullish being cracked :)
Appie P
July 24, 2012 at 18:44love the summer fruit … eat my belly full :-) You break was good @johnny we go UP UP UP
Appie P
July 24, 2012 at 18:51@Tuan welcome in the North train. Chip, Johnny are also in this train :-)
Tuan
July 24, 2012 at 18:55Thank you Appie :) Glad to meet you, friend.
Chip
July 24, 2012 at 20:00so far so good … no risk trading for me from this level (1.2072) I moved my sl @1.2057, I know it’s a bit early but it’s almost my bed time so I risk nothing overnight.
sahara
July 24, 2012 at 19:33another 1579.70 gold !!!!!
sahara
July 24, 2012 at 19:55hi 1583 !!
Johnny
July 24, 2012 at 19:41We’ve beautiful weather at the moment overhere and next few days forecast is good as well….Kinda deserve it as so far summer was hopeless :-)
I’ve taken Becky and Betty (My 2 mountaingoats) from the stable just a while ago and dropped them off at present levels. Lets see if we’re finally able to pierce that stubborn 60 ?
Johnny
July 24, 2012 at 19:50Off to bed soon….GN All
Appie P
July 24, 2012 at 19:57close @2072
Appie P
July 24, 2012 at 20:00also off to bed soon … sleeping hours are very important to be in top condition.
Chip
July 24, 2012 at 20:01Good night, sleep tight!
Appie P
July 24, 2012 at 20:00Chip you close your long?
Chip
July 24, 2012 at 20:02not yet
Chip
July 24, 2012 at 20:05but now that you say you did, I closed it too @ 1.2070 and off to bed.
Appie P
July 24, 2012 at 20:08well done in our North train :-) Good night Chip
Johnny (from PocketPc)
July 24, 2012 at 20:12@Appie – I havent closed out yet :-) lets see around 2130-50 if I have to close out or not?
Will however adjust my aiming target 2410 back to 2320 for now (Strong resistance there if we get so far up by tomorrow?)
See it all tomorrow….Now Zzzzzzzzzzzzzzzzzzzz
Appie P
July 24, 2012 at 20:38In my opinion was better to close now. Apple down 4.5% after closing stock exchange in New York. Tomorrow testing 2000?
Johnny (from PocketPc)
July 24, 2012 at 20:24Btw…I would note down this one into your diaries!!!! “Times they’re a changin’….” :-)
http://www.google.nl/url?sa=t&rct=j&q=times%20they%20are%20a%20changin&source=web&cd=5&sqi=2&ved=0CGcQtwIwBA&url=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DcLPlATKEdtM&ei=dQQPUIStIoa6hAf8yoCIAQ&usg=AFQjCNE2sVdfFH5EtDOd3Hh4wGE6HcSeDg
http://www.federalreserve.gov/whatsnext.htm
What’s Next
Items we expect to post to our web site over the next two months, including speeches, congressional testimony, Federal Open Market Committee material, and statistical releases issued less frequently than weekly. Meetings of the Federal Reserve Board and all statistical releases are shown elsewhere.
July
July 31 FOMC Meeting
Two-day meeting, July 31-August 1
August
August 1 G.5 Statistical Release
Foreign Exchange Rates
Appie P
July 24, 2012 at 20:52@johnny Thxs for the Bob Dylan gift and meeting data.
sahara
July 24, 2012 at 20:26good night all see you tomorrow if no problem with my key 3g !!
Kobe
July 24, 2012 at 20:34hello guys, i’m still long eu from 1.2104 tp 1.2194. i added a small long on eurnok @7.3693 tp 7.4200, its a very volatile pair, just fallen more than a thousand pips so it is wise to trade only small lots on it. good luck tomorrow to everyone!
Tuan
July 24, 2012 at 20:43The 1.2050 still a good holding point, maybe on Asian section we will see some real bounce.
Appie P
July 24, 2012 at 20:54Good Night !! Tuan Kobe and all. Tomorrow a new Tradings Day. GL TC
Tuan
July 24, 2012 at 20:57G9 Appie :) GL to you, too
John R
July 24, 2012 at 21:07Wow…Apple blew the earnings today…to the downside.
Full-risk on or renewed QE3 anticipation?
“Risk trades catch a late bid on WSJ article
from ForexLive by Adam Button
Jon Hilsenrath writes that the Fed officials are “impatient with the economy’s sluggish growth and high unemployment, are moving closer to taking new steps to spur activity and hiring.”
The modest rebound in stocks at the end of the day spilled over into a quick spike in FX. The commodity bloc was especially lively.
Bids at 1.0200 in USD/CAD held but AUD/USD climbed through 1.0250.
I would expect this rebound to get some legs — Hilsenrath is seen as a mouthpiece for the Fed.”
John R
July 24, 2012 at 21:08I meant..full-risk OFF
Dean
July 24, 2012 at 23:51Lets see 1.1980 first.
Maris Sturitis
July 25, 2012 at 05:18I agree @Dean I think today will hit 2000… GL @all
Good morning @all… :)
Maria
July 25, 2012 at 05:41Good morning all,
Poland business finished, back on to the road to drive home in a bit.
I have been too busy to do much of anything with trading this week, hopefully back to business as usual as of tomorrow.
EURUSD new mid-term short set 1st entry 1.2075, 2nd 1.210, 3rd 1.2150 to start with. 1st partial objective 1.1990, but will be moving lower if broken.
@Doc I saw your comments on my strategy in some previous discussion. I get what you’re saying and have also been trading that plan previously, but for FX the way I run the sets now (earliest entries smaller) is working better for me. I think I just feel more comfortable with it in combination with my safety measures for partial profit taking, middle position replacement in ranging weeks, aggressive full set size under 10% of equity and defense up to additional 5%. R/R ratio runs normally around 1:2 across the set with a then maximal risk of 15% across the account.
In the end of the day I look for my strategy to fit my personality giving me the least stress and keeping the comfort zone for time management as well as money management.
Have a good day all
Johnny
July 25, 2012 at 06:32GM All.
@Dean – Mrs. Merkel will hug and kiss you Dean if we will be touching 1980 (and she prefers even much lower!)
It would be so much better for Germany and the Zone to have a weaker Euro.
Its not just because of the ‘bad news’ (Greece/Spain and all that).
I wouldnt worry much about the Germans, they have proved they can survive and rebuild….(2nd WW)…As in Bruce’s song, they are “Tougher then the Rest”
When East and West Germany were United again (Not that long ago) they had to pump in Blns cause the DDR had less to nothing. And they managed it (Without any help)
They will do it again this time, dont worry abt that :-)
Im asking myself, where were thos Fitch & Moody’s guys when the Eurzone expanded and all of a sudden we got a bigger Europe??? Its all Manipulation to me, no more no less :-)
I m still holding my Long @72 and in waiting of the German IFO News that comes out in abt 1,5 hours time.
Dont think we will move much until then?
GL All
Appie P
July 25, 2012 at 06:53GM All
Today Apple day. Impact on markets?
Johnny
July 25, 2012 at 07:01Thanks very much Mr Santa Claus :-)
Appie P
July 25, 2012 at 07:11Yield Spanish bonds are UP: http://www.bloomberg.com/quote/GSPG10YR:IND/chart
Appie P
July 25, 2012 at 07:20R1=21155
Johnny
July 25, 2012 at 10:02Nice coffee :-) My Long from @2072 just closed out @2142….reason is that I saw an ugly face at 46 (Push down)….Standby mode for a little moment and waiting to see if 46 will hold and push it down again or get breached? May even go Short here for a change ! :-) Lets see…
Johnny
July 25, 2012 at 10:05Btw. Im Shorting Aud/Usd as well at the moment…Let see
Johnny
July 25, 2012 at 10:0527-21-14 push ups.
Johnny
July 25, 2012 at 10:06And turned Short @34. sl just above 46 ugly face :-)
BeMoreWild
July 25, 2012 at 18:32if u say so jOooOOOooHnnnnnY ;)
BeMoreWild
July 25, 2012 at 18:33i’ll try to tame the Bear then…..