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  • Turtle Forex
    replied
    Gaps that need to be filled

    A few currencies gapped up against JPY Friday on the 15 min charts...usually these gaps will fill within a session.

    We have gaps on EURJPY, CHFJPY and GBPJPY....keep an eye on them for a short play to fill those gaps. JPY strength (far left chart, purple SM) going into Fridays close looks good to buy JPY.

    JAPGAP.jpg

    You heard it here first...;-)

    Leave a comment:


  • Turtle Forex
    replied
    With ya Phillip

    Hey Phillip!

    A quick look at the 4 hr and I can see your reason (and FX AMP's reason) for being long or considering being long EURUSD.

    EU has almost to the pip found a short term base at 100% retrace of the move up from mid-May. Given that the USD (red strength meter) is in oversold territory on the Strength Meter and really only has one place to go...and the EUR (blue strength meter) is moving up towards 50, this looks like a very good risk/reward set up.

    Entering EURUSD long where it sits now and setting your stop 20 pips below the psych level 1.28 (about a 50 pips stop) gives a very nice risk to reward:

    23.6% = 1.2954
    38.2% = 1.3043
    50% = 1.3115
    61.8% = 1.3187

    So you looking at a very realistic 100-275 pip+ payoff on a 50 or so pip risk at current levels.

    EUE.jpgEUU.jpg

    I'd love to see this play out this way...that will take some of this unnecessary heat off Nick...;-) Given that AMP is well within risk parameters, when you look at reward potential I don't see why everyone is so bent out of shape. Sure its a deviation of what has been "normal", but set-ups like this don't come along that often. I just hope AMP does not close out early to appease the crowd, only to see this go in his direction later.

    Anyhow...that's my take on it.

    Happy Trading!

    Joe

    Leave a comment:


  • phillip
    replied
    Anyone else thinking the EURUSD now looks so obviously short.. its time to turn around and seriously disappoint?

    Can't help think this has a great chance to play out with a hold of the channel. It spiked through this morning on some Portuguese 'No' News but pulling back in. Still waiting for price action to confirm!

    USDJPY living below 100 may help the case.

    eurusd-sbh4.png

    Leave a comment:


  • phillip
    replied
    Is it time to get long EURUSD?

    EURUSD is trying to chop its way through some serious support.

    Will it make it through or is it time to 'Buy for July'?

    Great Risk/Reward on the buy side IMO. Wait for some confirmation price action on the 15.

    eurusd-sbh4.png

    Leave a comment:


  • iannai69
    replied
    lol, just posted a chart in a different section !! will probably put it in here next time :-)

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  • Robot Trader
    replied
    EURAUD H4 Black Swan

    H4 trade setup Black Swan with divergence long term trade (at least a week)

    Please see chart
    Attached Files

    Leave a comment:


  • sunny
    replied
    Very nice idea RT .... count me in :-)

    Leave a comment:


  • Robot Trader
    started a topic Forex Setups

    Forex Setups

    Thought I would open a topic on Forex setups
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