Afternoon Trade, short EUR/USD 1.1413 dead stopped 1.1359, 3 pips from 1.1359 bottom, + 54 pips.
Big points remain 1.1142, 1.1220 and 1.1596 above. EUR/USD and EUR pairs remain as mentioned many times the pairs to trade because movements are and will be terrific. GBP/USD and GBP pairs remain stasis. I’m working on automation of GBP pairs, NZD, AUD and USD. AUD and NZD are quite simple, GBP moderate and USD a nightmare. USD is the least known, least understood currency pair on the planet. Much effort must be put into a USD pair calculation. That’s why nobody knows it due to the difficulty and knowledge needed to get it right. Unfortunately, we live in the days of laziness where most don’t do nor care about doing their homework and honing their skills. I read a guy rah rah about making 6,000 pips in 6 months. Here we easily triple 6,000 pips in 6 months. And we don’t lose 1 pip, no failed trades, no better luck next time.
EUR/USD. Bottom. 1.1310. Range break above 1.1487, Below 1.1249, 1.1197. Overbought sell point 1.1419, Failure point 1.1395. Strategy. Longs above 1.1369, Target 1.1419 then reverse to 1.1394 and 1.1373. Points on the way up, 1.1370, 1.1383, 1.1395, 1.1407,1.1419.
Shorts below 1.1367, Target 1.1339. Watch here for reversal to 1.1367 and higher. Points on the way down, 1.1358, 1.1352, 1.1347, 1.1341, 1.1340, 1.1325, 1.1310 Bottom. Point 1.1339 must cross to go higher.
Brian Twomey, Inside the Currency Market, btwomey.com