Waiting for the breakout with a buy stop above 8283 and a stop below 3245 would be a wise way to play this triangle.... stops can be tight either way, ***Edit above 3282 but probably better to let the market confirm its direction with the break ...

Euro/Dollar

GBPUSD has exhibited the normal pullback, but EURUSD seems to be working itself into a triangle to break out higher on very short time frames... If the triangle fails, a sharp down move into the 38.2 should follow... but if it breaks to the upside, ...

Euro/Dollar

Scratch that... I'm long now against a tight stop of 3243... We may not get the pull back.... We are likely in the consolidation before breaking out higher...

Euro/Dollar

The crazy volatility during a Draghi press conference and subsequent breach of common fib relationships in an exagqerated move is the norm, not the exception... I was not surprised to see 3180 go owing to to risk event increased volatilty, but I was ...

Euro/Dollar

1.3250... absolutely crazy... and unsustainable

Euro/Dollar

We trade in crazy territory... largest range day since Bernanke QE3 announcement... We trade 3225 and this is spot for a pull back... Believe it or not, this is still only the top of wave 3 of 5 waves... all interior to a C wave... in other words... ...

Euro/Dollar

We got a little higher given the crazy volatility that always accompanies these shows.... How often to we see price come right back off after the risk event has pasted? Often

Euro/Dollar

We have hit the target of 3180 in this post... during Draghi's comments regarding retention of current interest rates... no chance to cut rates can be foreseen... looking for the market to turn near 3180.... Highly volatile during the press ...

Euro/Dollar

This is the next most likely pattern underway... a triangle in its early stages... In this pattern the likely maximum extent of (c) is 1.3123... or .618 of wave (a), before falling again to (d).... 1.3123 is just a fib target... a common fib ...

Euro/Dollar

Caution: This is about as bullish as I can get at this point in time. We could be unfolding the attached scenario... a stop below 3040 would risk 60 pips for potential 80 pip gain... not very good... Even Worse That is the best most bullish pattern ...

Euro/Dollar

Way too tricky a place to be considering longs in EURUSD... for swing traders.... right now... We are still correcting at this point... Possible we get a five wave move up in a C wave from 3040, but it would be tricky and too short term intraday ...

Euro/Dollar

Very bullish Spanish bond auction results have Spanish Ten year yields touching lowest levels since March 2012... Has printed sub 5%.... Bullish fro European risk....

Euro/Dollar

So carrying on with this discussion... Here is the idealized complete 1 cycle of Elliott Wave.... One of the most valuable things Elliott Wave can tell us, is where is wave C likely to end? If the larger trend is up....larger trend in the drawing is ...

Euro/Dollar

Charts are heavily encouraged in this thread... so I will comply Here is the H4.... despite the promising count yesterday, the down move fizzled as soon as it got to the key support underlying the market.... Indicator people will tell you a key ...

Euro/Dollar

Good Morning... We trade 1.3072 15 mins before European equity open... Still bearish, but PA appears to not be quite ready to get underway into a new down trend.... Rate decision today is unlikely to cause any movement, only a 2% chance of any rate ...

Euro/Dollar

ECB rate decision in the morning, and Euro back to unchanged on the day likely mean sideways grind and chop till after the risk event.

Euro/Dollar

Not going long, just flat.... rebound has too much momentum to risk profits on trade any farther... Better to wait for anotehr entry... we may end up sideways in more corrective action.

Euro/Dollar

I'm out of EURUSD shorts

Euro/Dollar

S&P500 Breaking out bullishly from Kumo on H1... This is supportive of EURUSD...

Euro/Dollar

GBPUSD ( highly correlated to EURUSD ) continues to lead... just broke through 6100... EURUSD frustratingly sticky at 3050 EDIT: 6000 I mean of course

Euro/Dollar