Eurodollar Intraday Trades

MoneyTec Forums Trading Zone Eurodollar Intraday Trades

This topic contains 7 replies, has 2 voices, and was last updated by  FXGuru 1 year, 4 months ago.

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  • #744

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    Dear Traders.

    Trades posted on this thread will be based on a simple graphic system covering Andrew’s Pitch Fork intersections with short & Mid term fibs. Actual entry signals will be generated on an intraday basis through WMA crosses tuned in concert with Macd 3,10,1 convergences & divergences.<O></O>

    A Daily commentary will also be posted to show the targeted Entries for the day.

    A weekly account report will be posted as track record of the system’s trade success ratio.

    Traders are advised that the system is being tested. And should use the signals with discretion. (If at all).

    Constructive critiques & Opinions are welcome towards system improvement.

    Sincere Regards


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    Back in may all traders were buying dips @ 2800, And just below. The general consensus was that Eurodollar would see 1.36 Again. U were considered fortunate, to catch a dip below 1.28. And as such would try to hold on to it, as long as possible to see 1.30 levels.<O</O

    After 3 consecutive tests in March/April & May. The 1.28 platform gave way. The Eurodollar plunged. And the general consensus sharply changed.<O</O

    The Downward trend line that resulted, was never broken until the Flag mast from 1-2<O</O

    Candle B of this Flag mast (1-2), has been sitting on this trend line ever since 5/7/05</FONT>. It has effectively turned the trend line from a resistance to a support. <O</O

    Not only hasn’t a single candle managed to attack that line again. More important, No candle has even been able to close below (violate) 50% of this candle.<O</O

    This gives a very strong idea to the strength of the price support platform that has been created at (Line B/B). A Very Strong Support platform has been established @ 2028.<O</O

    Prices may test it, & even dip below it. But are never tolerated to stay below, let alone close there.<O</O

    The trend is yr friend until it bends. So the saying goes. Well this one certainly has. The trend has effectively changed, from downward to consolidatory.<O</O

    The turning point from consolidatory to Upward, will be established with the 1<SUP>st</SUP> candle that closes above point (2) of the 123 formation, shown at the bottom of the chart. It is no coincidence that this point (2) also requires a clear break of & close above the 38% Fib.<O</O

    The pitch fork drawn on the enclosed chart, marks out the potential for the coming reversal & Up trend, with regards to Buy / Sell opportunities.
    Long termers are advised to start buying in-mass, to create a foundation base on which to pyramidize future trending longs. In this case, the R/R ratio at this turning point could never be better.<O</O

    Intraday traders are advised to Buy & Sell bounces off the Upper & lower trend lines of the pitch fork. Specifically where such trend lines intersect with long & shot term Fibs.<O</O

    Mind U only long term fibs are shown on the chart. Short term fibs would need to be re-drawn pending future weekly up-moves.<O</O

    It is possible of course that the Eurodollar could still go down. But to do so, it appears, there must be a massive fundamental set back. That has not been calculated & comes a complete surprise to the market.<O</O

    Intrest rate differentials are no longer enough. The Market has already forecasted a ceiling of 4-à 4.25%. And discounted that. Another catalyst is needed. And until it does evolve, what the market is technically saying is that Eurodollar is due for a reversal. And It would be a shame, to stand unprepared, & waste its potential.


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    GMT: 2:28

    Buy 2215
    SL @ 2197
    TSL auto trailing @ 18 pip jumps
    35% TP @ 2260
    65% TP @ 2340

    GMT: 3:00
    SL brought down to 2185 (effectivelly below WMA/20 on 30-min, & 30pips from entry. To avoid shallow price dips)

    GMT: 7:18
    There is divergence showing on 30-min. Will watch closely & bail out @ b/e or slightly above. – Chart enclosed

    GMT: 7.23
    Leave Limit order to bail out at entry

    GMT: 7.41
    Limit hit & Bailed out @ 2215 at B/e.


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    8:00 GMT

    hammer on 30-min has negated the divergence. (Chart enclosed). Will Buy bounce of thw WMA/20. (Red line)

    Bounce off 1st Fib fan line on 4-hr chart, has signaled strenght to long again the TEE @ 2215. (Chart Enclosed)

    Have Bought 2222 & 2220.

    Leave Limit Buy Order @ 2215 again if / when seen

    SL @ 2185 with 18pip TSL trigger
    TP @ 2150 (35%) & 2340 (65%)


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    10:30 GMT

    Divergence begining to show on 4hr chart (enclosed)

    Buy order @ 2215 Removed


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    23:46 GMT.

    Sell 2189/90 (Current Spot). TP 2160 SL 2210

    A double top has formed on 4hr. Close of candle outside 1st Fib puts 2nd fib line under pressure with Macd negative divergence still in active play. (See 4-hr Chart)

    Technically we are selling a rejection bounce of WMA/5 @ WMA/20, while both WMA/5 & WMA/20 are negatively crossed & running bellow WMA/100. And Negative Momentum (Macd below 0) in running on the Mcad 3,10,1 (See 30-min chart).

    SL is above WMA/100

    00:57 GMT

    SL @ Entry. TP taken to 2140


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    The Shooting star close of yesterday, (see daily chart close Up), is a warning sign that the Up trend has temporarily run out of steam, and is due for a retracement.

    Retracement levels that come into play are:-<O</O

    2150 (Lower Pitch fork line on daily)<O</O

    2130 (WMA/100 on 2hr)<O</O

    2110 (WMA/100 on 4hr)

    A double top has formed on the 4-hr with extended Macd negative divergence. The extent of the retracement will further depend on whether this is followed by a complete negative WMA5X20 cross, or bounce off.

    Relationship between WMA5/20 & WMA/100 on the 30-min early on is determinal to the extent of the drop down. If the WMA5&20 are able to preserve a 20-30 pip range below the WMA100. Then we will be seeing a spinning Top or Doji by day’s end. (this is strongly contested as I write). <O</O

    If the WMA/100 is unable to confine them to such a range, then we could see a full brear candle down to WMA/62 on daily (2130) & WMA20 on daily (2110) = 50-61% retracement of 2 Bull candle up moves from 2070.

    Throughout the trade sessions today WMA crosses & reversals will be manipulated to monitor trade entries & exits with this regard.

    Close Up of Daily Chart, & 4hr chart are enclosed


    • 296

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