Thread: SolomonFX Trade Journal (The Eye Of Solomon)

Looking at this chart it certainly is not screaming BULLISH BIAS at all. We broke the triangle on momentum. Price has been not able to obtain traction over the 200 Straightforward. Currently price is stalling round the 78.6 Fibonacci retracement level and doesn't look poised to break this amount at the moment.

I'm going out on a limb here but my more term extrapolation for this pair could be a drop back to 1.3000 and open up lines to get a re-test of January lows at 1.2624.

I have a bearish outlook for the EUR/USD. Equities are in a position for a correction and we have powerful correlation between the EUR/USD and US Equities. I am not impressed with the fundamental data out of the US or the EURO. My ideas are risk aversion going with a US dollar rally. ”Usually the first day (of the quarter) will have inflows according to CNBC analysis. A correction is finished because the question is when will we see it. .

Allow me to know if I left anything out. I'm no fundamental guru by any means

I'll be taking a look at Intra-day (1 Hour charts) for trading opportunities following week on spurts of momentum. Bullish or Bearish provided that it is trending momentum I will trade into it. .

Holiday on Friday the market didn't have a lot of momentum. The beginning of the week should prove to be interesting with major players.

Trading opportunities should abound.

4 Hour

I have difficulty trying to figure what is next.
One situation would be at least 1.31999 50% fib, then towards 1.30

We will just have to wait and see how it packs out.

A few notes before London Open

Originally Posted by ;

A few notes London Open

Jeremy where are you?

EUR/USD Notes attached to the chart.

How's it going sir?

Back in vaion time to get back to the mill....

Risk appetite is in full swing and it looks like it may last for awhile. Equities and Futures markets have been on a rampage.

NFP outside Friday. Standing aside until the dust settles. If EUR/USD can preserve its foothold over 1.3500 my medium term target stands in 1.4000. I'll be waiting for a pullback for entrance.

As always I will be meticulously studying the technical and fundamental image for so much insight as I could gain. I hate getting blind sighted by technical and fundamental data I may have missed.


Regards

Jeremy

The calm before the major reports tomorrow.

EUR reports yesterday German Retail sales and CPI both below expectations and they were a blip on the monitor. EUR sold VERY briefly before continuing its ascent.

Tomorrow should be interesting too.

Regards

Jeremy

EUR/USD Notes.

Clarity Contrarian Reversal Signal Trade. Confirmed at 3:15AM based on price action crossing the Hyper Trend Line

Let's see if we can continue this bull run or if more correction is needed.

SP 500 closed with a bearish engulfing candle yesterday. Today it is up nearly 1 percent.

Bull's are back in charge for today.

EUR/USD Notes

Chopping market conditions, not my cup of tea.

Standing aside until the cash comes on line and 7:45 EUR Interest rate decision and meetings.

Triangle pattern. Possible continuation of this bearish correction.

Accession to be clear: I'd mention on the chart the MACD lacked any True Directional BIAS. It's correct it has a bearish overtone beneath the center line nevertheless price is in a choppy consolidation which is drying upward trending momentum for the time being.

Lacking momentum at market open on Sunday in addition to all day today.

Waiting for trending momentum to kick in before I would even think about a trade.

Perhaps retail sales statistics on Wednesday may spark a move.

The Triangle pattern I submitted February 7th came into fruition with a rather strong bearish breakout Friday.

Periods of trend-less momentum are followed by volatile breakouts usually.

Position apart until London Open.