2016-01-22_00-53-04eurusd1

Dear all,

Price has been moving below the cloud therefore any bullish trades / biases have been invalidated.

Now we should only be thinking to short from below the cloud.

The indicators seen on the chart Macd´s and a slow stochastic are also pointing down.

I am a trader that tries to take losses as quickly as possible and let the winners run therefore if price does not go your way then cut the trade.

If price manages to stay below the cloud then the target area would be the previous swing low at 1.06100.

The stop loss can be placed at the 1.09450 level.

BEST OF PIPS

3 thoughts on “EURUSD Analysis”

  1. Timmi "Timmbits" Simmi says:

    It seems like you are suggesting a stop in the vicinity of 300 pips? (I can’t tell from your chart as it is too small).
    Seems a bit over the top if you ask me.
    Well over 90% of traders are highly leveraged small accounts… so advice that relies upon such a massive stop isn’t going to help anyone.
    As for those who can afford a 300 pip stop, well, I suspect they pretty much have it made and aren’t reading the columns of advice for noobs.

    1. Timmi "Timmbits" Simmi says:

      To clarify, what I am saying, is that a trading strategy that relies upon a more reasonable stop level, is of more help. The only skill a person needs, to trade with 300 pips drawdown, is to know how to flip a coin and place an order.

    2. Nuno Lampreia – Forex.Today says:

      Hello Timmi,
      Thank you for your comment always appreciated.
      Do you have a preference for a specific time frame?
      Please do remeber that the same knowledge applies to all time frames.
      So if you see how I analyse the daily chart and how and when to pull the triger that you may use this knowledge for your benefit on your prefered time frame.
      Important to me Timmi is that you like to read the posts and that you ask questions for everyone to improve.
      Our readers goal should be to trade their own accounts with a personal trading approach with a little help from the whole team.
      It is hard but together we will manage….
      BEST OF PIPS

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