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Spider: an auto-trader for spiderforex's VQ system 266 replies

Spider's Den

3294 achieved scaling out is recommended as 3306 is next strong resistance.
3318 reached as stops through 3306 have been collected.
This is called DIRECT RISE. I had my calculations at 3325 possibly extension leads to 3350.
Quoting T@rantula
This is called DIRECT RISE. I had my calculations at 3325 possibly extension leads to 3350.
Definitely no, Italian elections turned the price upside down completely.
NEWS impact. 90 pip breakout with hardly any retracement.

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Id pay attention only to 3145 break out for 3070 target. News spikes are sometimes tricky.

You can also read BO chart on my FX Blog.
euro is %&%*^%.. should not had broken 3080
Well you see 3070 hs been reached by the break of 3140. Need to see daily close and will make further analysis. 3010 may be on its way but bulls should protect it.
Dont be relaxed thou as tomorrow we have Bernanke testimony. Hmm...Maybe this all is retracement for the next leg up?? We will see..
Quoting T@rantula
Well you see 3070 hs been reached by the break of 3140. Need to see daily close and will make further analysis. 3010 may be on its way but bulls should protect it.
Dont be relaxed thou as tomorrow we have Bernanke testimony. Hmm...Maybe this all is retracement for the next leg up?? We will see..
With RESPECT to your point of view. When we had Risk Off as we had in afternoon then the big flow of MONEY is always to the safest HAVEN with the most Yield.

If the Dow were to go down another 250 points on Tuesday then EUR/USD will continue down. The MONEYFLOW always leads the charts. No person in the public arena knows how BIG BEN will answer questions on Tuesday and Wednesday.

The MARKETS want more stimulus or Money Printing as does those that invest in Gold.

Just watch what the Equity Markets and the US Bond markets do on Tuesday. We all need to see how Europe reacts to the Italian Election results.

That is how I see things. Support and Resistance are important to know however when the BIG Dollars start to FLOW they are not going to hold in most Risk Off scenario.

All points of view are valid however in the end the changing values reflect the current situation.

Trade well and use good Risk management and if not sure just step aside until things stabilize.
Levels for today


Murrey Math points to 2940 on the downside and 3184 on the upper side right now.

Total risk to the upper side is up to 3428, but 3306 should be a hard nut to crack.

On the lower side we have 2878 as very hard hurdle. Targets to the lower side are 3000, 2940 and 2878



Trading idea for today is:


first up to 3123 or DPP @ 3143; then down towards 2965 to 2940



Price has moved out of its previous downsloping channel to the lower side (accelerating downside move). So a retest of this channel might be in the cards now. Channel resistance around 3130 +/-10


Market profile best targets are 2965-2988; extended move 2905-2910.
On the upper side 3164-3188


Attachment 1142571
http://yelnick.typepad.com/yelnick/


Yves Calls a Top! Led by the British Pound
EURUSD has broken descending channel to the downside reaching 3018. We have a DOJI candle which indicates a strong demand. Preferred scenario is to enter long targeting 3180-3200 confluence area then it would b good to try a short if reversal candle is spotted. 3000 is strong psych level so PB is preferred.


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Quoting infinitus
Levels for today


Murrey Math points to 2940 on the downside and 3184 on the upper side right now.

Total risk to the upper side is up to 3428, but 3306 should be a hard nut to crack.

On the lower side we have 2878 as very hard hurdle. Targets to the lower side are 3000, 2940 and 2878



Trading idea for today is:


first up to 3123 or DPP @ 3143; then down towards 2965 to 2940



Price has moved out of its previous downsloping channel to the lower side (accelerating downside move). So a retest of this channel might be in the...
Excellent Markus. First UP yes we need pullback then lets drive it down later. Would like to see 3180 PB.
Quoting T@rantula
Excellent Markus. First UP yes we need pullback then lets drive it down later. Would like to see 3180 PB.


3180 does look promising, but from an Elliott wave point of view I would hate it, because it would produce again an overlapping impulse (and I would run out of colours for the different 1-2 moves LOL)

So I will watch closely 3123 for reaction.....
Channel low tested, confluence with 23.6 fib, BO of 3088 is needed to proceed further and shape valid W 1 2 3 reversal.

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W confirmed 3120 next resistance 3140 DPP.
Quoting T@rantula
W confirmed 3120 next resistance 3140 DPP.
3120 has been sold, watching possible jump between 3080-75
Head and shoulders on m5. Has the top been reached?
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Quoting T@rantula
Head and shoulders on m5. Has the top been reached?
Not yet . No momentum to break 3075 and W 1 2 3 on m5 shaping up again.


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W 1 2 3 - 3075 rejection led to 3109 confirmed at 3090 , tbh I expected a bit more ( 3120 retest). Next Breakout was confirmed when 3072 break lower. 3047 stands as support. Lets see what can happen, dont forget press conference in 1h and a half.

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Quoting T@rantula
W 1 2 3 - 3075 rejection led to 3109 confirmed at 3090 , tbh I expected a bit more ( 3120 retest). Next Breakout was confirmed when 3072 break lower. 3047 stands as support. Lets see what can happen, dont forget press conference in 1h and a half.

Attachment 1142835


for me it looks like (starting from the low today) that we build an ABC-flat (up), where we are now in wave B (down)

I do not await more than DPP today to the uper side and 3031 to the lower side


well, let us wait and see
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