Eur/Usd: Daily Market Trends Update 5/17/2018

in #forex8 years ago

Eur/Usd On 5/17/2018 at 8am est.. Boulder Multi Time Frame System:

1H, Downtrend, Trend stop at 1H close 1.1832, Running Period: 65x1H
4H, Downtrend, Trend stop at 4H close 1.1994, Running Period: 12 x 4H
Daily, Downtrend, Trend stop at day close 1.2281, Running Period: 28 days

( Note: Those stops will change with hour close and price action)

Trading Strategy:

Currently 1H ,4H and Daily downtrend. If you trade 1H trend, preference is to short as long as downtrend stop 1.1832 held at 1H close. Looking at time stop and position triggers, this may be close to the end of 1H downtrend cycle.

One important thing that I notice, in 2 two days for weekly close, if Euro can't close above 1.1940, Euro will start weekly downtrend with downtrend stop 1.2530. Current weekly uptrend has been running since 4/23/2017 from 1.0807 , rallied all the way up to 1.2550s.. now finally come to end tomorrow on 5/18/2018 at close. If that happens, institutions will start to unwind their record longs with time.

Support: S1 1.1784, S2 1.1759, S3 1.1717
Resistance: R1: 1.1834, R2 1.1859 , R3 1.1905

EA had 11 open positions so far for this cycle, I have closed 5 positions, here are 7 more open that most triggered yesterday, I will close most or all today shortly.
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