EUR/USD (EUR Futures CME) Sell Limit 1.17950, 1.18950EUR/USD (EUR Futures CME) - E6Z2017 (Contract December 2017)
Sell Limit 1 - 1.17950
Sell Limit 2 - 1.18950
Take Profit - 1.14950
Stop Loss - 1.21750
E61!
EUR/USD Futures (E6 EURO) Buy Limit 1.16500, 1.16050EUR/USD Futures (E6 EURO) - E6Z2017
Signal:
Buy Limit 1 - 1.16500
Buy Limit 2 - 1.16050
Take Profit - 1.18300
Stop Loss - 1.15500
EUR/USD (EUR Futures E6Z2017) | Sell Limit 1.19200, 1.20000EUR/USD Futures - E6Z2017
Signal:
Sell Limit 1 - 1.19200
Sell Limit 2 - 1.20000
Take Profit - 1.16200
Stop Loss - 1.21700
EURUSD /E61! / Elliott wave & rectangle & Area resistence1. Elliott Wave - motive wave
2.Area resistence
3. rectangle
FX:EURUSD CME:E61!
Euro Futures: Bearish BatSharkHere is a nice confluence of a bearish BatShark along with RSI and AO divergence. I have entered short with some targets marked on the chart but will watch price action in each target area to decide whether to take profits, move stops or even reverse position (in the case of the bullish 5-0 pattern).
As per my new strategy I will be moving stops to breakeven after I am up some pips, and look to re-enter higher when price action gives another good signal if I am stopped out.
If you have any comments or feedback on this idea or your own view on the Euro, please feel free to share!
THE WEEK AHEAD: FXE OR /E6, P, NVDA, AND MWith the French elections now in the rear-view mirror, the Euro is at 1.10-ish at Asian open, and I'm looking to watch and short /E6 or FXE after seeing how far the spot forex pair goes here. Typically, the currency doesn't move all that much in the Asian session, so I kind of want to see what the European market does with the news before committing to a short position, which is likely to be a straightforward short call vertical, although some tweaking to the strikes being used will be necessary now that it's at 1.10-ish. (See Post Below).
Aside from that, we've got some quality earnings plays coming up this week, a few with the metrics that meet or almost meet my "smell test" (>70% implied volatility rank, >50% implied volatility).
P (80/68) -- announces on Monday after market close, so look to put on a play before the NY market shutters. Due to the size of the underlying, only a short straddle or defined risk iron fly makes any sense here for a nondirectional play.
NVDA (72/50) -- announces on Tuesday after market close. Short strangle or iron condor are the suggested plays with potential tweaks aimed toward limiting downside risk (e.g., Reverse Jade Lizard) so you don't get AMD'd if that's the way this cookie crumbles.
M (85/45) -- announces on Thursday before market open. At $29/share, this one's a kind of "in-betweener" -- you can go short strangle/iron condor if it pays enough or agress with a short straddle/iron fly if you want the allure of more credit at the door and the option to take profit at a lower max profit percentage. Of course, it's brick and mortar retail, which as a sector has seen individual name mixed results over the past several earnings cycles (being generous here), so my tendency would be to keep setup POP% high as a trade off against bringing in more in credit to give you greater flexibility dealing with a broken setup post earnings than a short straddle or iron fly would.
I'll post more concrete setups should I decide to dip my toe into one or more of these ... .
E61! - Short Strangle 09.06.2017Since the EURO did not break out after the first election in Europe, and the Commercals being neither long nor short, I tend to sell a strangle expecting the EURO to move sideways.
EURUSD Almost Completed Bearish Bat, Overbought 1H, Supply Zone?Shorting at blue line with stops of the red line. TP1 is the green line (I will move stops to Breakeven when it has moved in my favor an eqivalent amount to my risk. I will then take half profit at the green like and attempt to hold the second half for deeper targets as long as no compelling bullish patterns form. Wish me luck.
Break of Resistance triggers buyPrice approaching important resistance level. Momentum still high and price makes higher highs.
A break can trigger buy, but only with a retest, we get a high probability entry.
Up, Up and Away...COVERED...we are covering our small position on the second day run. We didn't not get the pullback we wanted. We will wait for a pullback or consolidation to re-enter for another leg up. IF YOU MISSED THIS TRADE...DO NOT CHASE IT!
A better chance?The Euro blew through our watch area without triggering but rebounded late during the Friday session. We wanted to be long by now but we are not. There is a lot monetary news events out of Europe this week so we will be cautious of our positions. For now, we want to look for a trigger long (which may happen over night so get the coffee brewing) down to our watch area. If we are fortunate enough to get long and have a break out Monday then we can manage the trade into the news events. If not then we will flatten all positions before the events. NO TRIGGER, NO TRADE!
A Big Move Coming?This is a great lesson for those who want to get on a good trade. Look at the monthly chart. Not since 2001-2002 have we seen a nice wedge pattern like the current. But more importantly look how far price moved when it broke. We expect the same with this current pattern. You don't have to catch the break...rather drop down to a smaller time frame (Daily or 4 hour) and take trades IN THE DIRECTION of the break. DON'T fight the momentum. Keep a close eye on it.
Euro Getting RipeWe are still watching the Euro. It's back in the middle of the range in no mans land. We will continue to keep an eye on this. We have a weekly signal getting ready to fire and with all the junk happening in the Europe this currency will move and we will try to be on it. Keep on your watch list.
We call it "The Drahgi"We are watching the Euro closely. Draghi said he wasn't ready to inject stimulus and needed more time to evaluate. Really? This is good news for traders. The Euro should consolidate tighter for a chance to POP in the near future. We will continue to monitor the possibility. Keep it on your watch list.
The Euro knife has stuck in the groundNice consolidation since the Euro's knife has stuck int he ground. We would like to see a solid break of the channel before getting involved. Stick it on your watch list.
Down goes Euro, down goes Euro...LESSONS:
1. If you missed the break down then you can't chase the trade.
2. If you missed the trade DO NOT try to catch the falling knife. You most likely take a hit to your account.
3. Wait for for something to setup...patience is your accounts best friend.
What's up the with EURO? No setups at this moment. We are sitting on our hands waiting. Stay tuned.
DX US Dollar marching towards $99After clearing the HVN High Volume Node of $95 representing supply from 1997 - 1999, the $DXY $DX_F is on track to get to the next HVN of $99 and then the nice round number of $100 where I suspect it will pull back. I am bullish to $100 then bearish. Watch commodities.
Would've, could've...Yes, the E6 is still falling out of bed. And YES, it would have been nice to still be short but that's trading. We rang the cash register as per our plan and we accept that. UNDERSTAND something...you will NEVER catch the exact top or bottom. You just want your share. :)
There is nothing for us to do with the E6. Time to be patient.
The finish line is in sight. Mr. Draghi keeps helping us sneak closer to our 2nd target. He must be reading our posts ;)
Nonetheless, we have pulled stops down to where our first target was hit. We are so close to the 2nd target that we need to tighten things up. It would be foolish to get this close and let a huge swing take us out. This has been a great trade and has paid us nicely. Take a look at our past posts to see how we initiated and managed the trade.
E6 Euro fx EURUSDShowing accumulation as traders anticipate the ECB to provide support and buy sov bonds. If Euro breaks down more, it will be very ugly as the longs since mid Oct liquidate. Long to 1.262
DX US Dollar index $DXYUS Dollar showing signs of distribution as evidenced by accumulation in E6 Euro, J6 Yen and A6 Australian Dollar. #1 Short term excess supply signal has been flashing on/off today signalling a high probability of more selling. Note: no new cyclical support or resistance levels have calculated and printed at this time. This distribution will most likely take a week or two. $CL WTI Crude futures show accumulation also. These are my opinions based on current evidence.
$EURUSD $E6_F Euro currencyAccumulation. Near term swing low is within sight. $DX_F DXY US Dollar is encountering supply from $88 - 92 at the same time. $J6_F $USDJPY Japanese Yen is near support. All the major currencies are displaying a near term change in trend. More confirmation needed. Seeing early signs.
She broke clean!The break is clean so we are looking for a small pull back on a lower time frame to get short. We will be up early to watch European session. Stay tuned!
