Recently the EURUSD has been trading at a level that I've has zero interest in. We've been stuck in a strange location, where we've been too high for me to want to buy, yet too low for me to want to sell.
With today's rally, which I can only guess was due to the Trump Jr. Email mess along with Merkel's comments on the EU. This pair may push up towards the $1.16 level which would be a price point that sparks more of my interest.
In the higher red box also lies 2 projected equal level moves coming from previous extensions. But aside from that at this point I have no other confirmation at that level.
As a swing trader my eyes will be glued to potential selling opportunities, but as a day trader, I will certainly be looking for a correction and a chance to hop on the next wave up.
Just what we needed. Even more excitement heading into tomorrow's big day!
Okay, time to finish today's Trading Blog video! Good luck out there traders!! And I'd love to hear your viewpoints on the EURUSD. The more ideas, the better!! Let's just keep it clean and informative
Newbie here, I just thought of a Rising wedge right?
Akil_Stokes
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@mxginez3, Hi, I wouldn't identify this as one, but I can certainly visualize what you've drawn out
shegzsucre
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Hey Akil, Good evening. I am new here and will like to know all I need to as far as EURUSD is concerned. I need pro advise on trading fundamentals in conjunction with my technical ideas. So fa I haven't been successful trading because of news and events always disrupting my trade set up. Any idea how I can deal with this issues?
Akil_Stokes
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@shegzsucre, Hi, I would say that if news events concern you I'd create a rule so that you don't have any exposure to the market during said events. I don't think every news event should be avoided, but there are certainly some (and they change over time) that consistently move the markets.
Tiaan
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Hey Akil. I have a question but it's not about this particular setup. I am busy backtesting my advanced patterns rules etc. And on this one particular setup I would've waited 259 bars on the 60m chart for the completion of my Bat's D point, but it would've made profit. In your opinion, Is it worth waiting that long for a completion or must I consider the pattern invalid after a period of time?
Kind Regards
Tiaan
Akil_Stokes
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@Tiaan, I don't take time into account, so as long as the setup is still valid, I'd count it
Tiaan
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@Akil_Stokes, Ok awesome, Thank you Akil! Love the work by the way. Keep it up!
Akil_Stokes
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@Tiaan, Thank you, I appreciate the continued support