Trade With Me Forex

EUR/USD Trend Update

2012-01-19T19:10:00.000-08:00

My downside target came within 24 pips of target. Currently I am going to start building long positions at the 1.285/80 levels. I will close my last short positions in this area. My first targeted area will be 1.2950 level. I expect price to break 1.300 level. If and when this happens I will target 1.305 and then 1.317 level. If we can get a daily close above 1.325 I would target 1.335, 1.340 and then 1.3450 level. If price reaches 1.3450 level I would then expect a pullback before another push to break this level and ultimately target 1.3600 level.

Weekly Round-up

2012-01-13T16:21:00.000-08:00

EUR/USD was range bound most of the week. Today it finally made a move lower in which I thought it might reach my target of 1.2600. It came to within 24 pips of triggering my target profit. I look for EUR/USD to spike down early next week possibly as low as 1.256/7 area. I would then expect a reversal patter in which I will take a long position and target the 1.3600 area with obvious resistance along the way.

EUR/USD weekly outlook for Jan 9th. – 13th.

2012-01-07T18:35:00.000-08:00

EUR/USD should continue its downward momentum toward the 1.2600 level. I believe it will go as low as 1.2570 level where I have five confluence areas. Three of the five levels are fib extensions drawn off daily charts (see charts). I also have monthly trend line support at this level and price role reversal support. My plan is to stay short to 1.2600 and begin to watch for change of trend price action. I will not take a long position until I get a trend reversal pattern I am comfortable with. I would like to see price wick the 1.2573 price level and reverse. I would then place a stop below the 1.2570 level. My upward targets will be 1.281, 1.293, 1.303, 1.316, 1.321, 1.340, and 1.360. I feel as if price will make a move fib and retrace to 1.340, 1.360 levels. If price reaches the 1.3400 level I expect some consolidation and a possible move higher to 1.3600. If price gets to 1.3600 I will defiantly look for a reversal patterns to go short and this will give me excellent risk reward with an ultimate short target of 1.1550 level.

Weekly Roundup

2012-01-06T14:41:00.000-08:00

Today EUR/USD continued its downtrend finding support and closing at the 1.270/71 level. Non-Farm numbers helped dollar strength which continued to play in our favor on the Euro short. Target is still set at 1.2600 level. Looking out on longer term charts I notice some role reversal at this level which I believe will lend its hand to some buying. Stronger support lies at the 1.2500 level, but I feel we will see a bounce at 1.2600. Time will tell with this scenario and could play into some buying in the Euro next week. Long term further weakness is relevant, but short term we could see a rally.

EUR/USD Weekly Trade Plan Update

2012-01-05T17:13:00.000-08:00

Our EUR/USD trade plan is developing nicely. Initially price reached our entry target of 1.3030 which triggered our sell limit order. Price tested resistance as I expected. I had my stop placed at 1.3085 as sellers overpowered buyers at these levels price fell nicely finding support at 1.2900, 1.2850 and currently battling at the 1.2800 level. I keep trailing my stop above previous swing highs currently at 1.2850 level. See chart below.

EUR/USD Trade Video

2012-01-02T12:00:00.001-08:00

Happy New Year

2011-12-31T08:31:00.000-08:00

EUR/USD Analysis for the end of 2011 and the start of 2012 based on 4 hour and weekly charts. Currently we are in a retracement pattern on the 4 hr time frame. I see nice resistance at the 1.3030 level which is where I have a sell limit set. Stop is at 1.3085 and target profit set at 1.2605. Risk reward is excellent if price reaches our limit order, basically 8 to 1 risk reward which is really nice. We are currently making higher highs on 15 min, 1 hr , and 4 hr charts. I have nice fib targets in the 1.3030 vicinty which is correlated with price resistance and also trendline resistance. This is enough for me to place a sell limit in this area. Once in the trade I will manage accordingly. I have provided a 4 hour chart along with a weekly chart clearly showing my plan. Again plan your trades and trade your plans! Happy New Year to all and I hope this trade provides you with a nice little start to your 2012 trading year.

EUR/USD for 9/8/2011 Asia session

2011-09-08T18:20:00.000-07:00

Another nice session got my entries as I wanted. Looking for 1.3965 for my first target area and then it would be nice to see price at 1.400 level for London open and I will look to sell this puppy on a 15 min trend change conformation at the 1.400/1.401 level. If price is not at this level at the open I might look to reload another position and target this psychological resistance level. Click on chart to enlarge.

EUR/USD for 9/8/2011

2011-09-07T19:14:00.000-07:00

Took some shorts for the Asia session on EUR/USD and GBP/USD. Nice scalp trades based off 15 min trend change conformation. Currently flat and waiting to see what price does next. I feel as if price might continue upwards, but I need some levels cleared before I'm convinced. Note my chart with notes.

Sept. 5th EUR/USD Asia Trade.

2011-09-05T16:36:00.000-07:00

Took a short position trade at 1.40738 and was able to lock in 10 pips with break even set. Took this position when price made a lower low confirming the intermediate downtrend. Price also made a lower low 1.40584 to establish another short entry for later. I would look for another entry at the 1.40830 level based on the 1.40584 low. This level would give me at least a break even trade and possibly making new lows. We will have to wait and see on this.

GBP/USD Levels for week of 8/26/2011

2011-08-27T18:48:00.000-07:00

It was another good week trading my levels.