Very nice move 
and maybe another one coming
and maybe another one coming
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- Post# 43,462
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- May 6, 2013 5:06pm
Very nice move
- Post# 43,463
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- May 6, 2013 7:37pm
{quote} A nice intraday movement but EurUsd still cannot get out of the trading range. I’m expecting volatility if the Australian central bank cuts rates.
That is in about 2 hours , will you trade EUR USD at that time? is it better to try AUDUSD maybe?Edit: or AUD/JPY...
- Post# 43,464
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- May 7, 2013 8:27am
{quote}
- Post# 43,468
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- May 9, 2013 5:54pm
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- goods Joined Feb 2010 | 1,673 Posts | Status: Helping Others
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Know when to hold em, Know when to fold em!
- Post# 43,469
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- May 16, 2013 2:41pm
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- fibstalker Joined Jan 2013 | 708 Posts | Status: ...I follow price, not news...
Scenario 1. I do not anticipate the 1.2980 level to hold because it is going to be a second test. Thus we could see price slice through that level and move right into the 1.2910 area where we could get a small bounce. If the shorts are real there would be a continuaton after price tests the 1.2980 area from below.
The Euro kept moving lower despite strong US indices as anticipated on April 30th and May 3rd video reviews. The participation lower initially witnessed at the 1.3240 continued in the last 2 weeks. Moreover, below 1.2840 price confirmed the first target of the daily move lower at the 1.2525 area. I now anticipate price continuing into that target area in the two coming weeks.
What I was not able to anticipate was this reactionary move higher to push early bears out of the markets, but I do only swing trading (that’s where the money is) and don’t try to catch every intraday move.
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The above picture shows the two current scenarios:
Scenario 1. A continuation lower from current levels if the correction higher has ended bringing price into the 1.2810 area first and then the 1.2740 area for the second target.
Scenario 2. If the correction higher has not ended just yet, we could see price climbing into the 1.3010-20 area only to revert (there would be resistance of the 20-day SMA there, as well) and continue lower.
As I said, final destination where we could see initial profit taking is at the 1.2525-30 area, first target of the move originated a the 1.3240 area. I will remove my swing short position there.
As usual I am interested in your thoughts, suggestions and ideas.
On my blog there is an up to date video featuring the daily chart.
Have a great weekend -fibstalker
"markets traded by programs/HFT offer a significant trading edge..."
- Post# 43,470
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- May 16, 2013 4:05pm
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
- Post# 43,471
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- May 16, 2013 4:58pm
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- fibstalker Joined Jan 2013 | 708 Posts | Status: ...I follow price, not news...
"markets traded by programs/HFT offer a significant trading edge..."
- Post# 43,472
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- May 20, 2013 8:44am
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- Daystepper Joined Feb 2011 | 69 Posts | Status: On The DayTrading Path
- Post# 43,474
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- May 21, 2013 10:43am
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- fibstalker Joined Jan 2013 | 708 Posts | Status: ...I follow price, not news...
The S&P500 started profit taking right at the 1,593 highs, second target of the larger move started in November last year. Scenario 1. The up-move in the stock index has not ended, but just paused. The next long setup and strong participation on the upside can be found starting at the 1,526 area. If price never moves below the 1,508 level we could witness a continuation higher in the summer into the 1,624 first target, and even higher into the 1,675 level.
In my last review I mentioned a resumed move higher in the 1526 area but that came at a higher level:four points above at the 1530 (see in the below video a potential explanation for that). Anyway we are seeing price very close to that 1675 area of second target. I believe the target came at 1671, although we could still see 1677 area.
Let me show you my current perspective. The setup long showing participation at 1530 in mid of April (see picture below) hit the first target in the 1623 area and then the 1671 second target. I don't anticipate higher prices straight away now and the S&P500 could see profit taking. Price could stretch as high as 1677 area before we see a move lower. The reason for the 1677 level is explained on the video in my blog.
Attached Image (click to enlarge)
These are the scenarios I could anticipate for the S&P500 going forward:
Scenario 1. Price corrects into the next support and long setup at the 1632 area (with a stop below 1622) and then continue higher into previous highs at 1670s or even continue into the first and second targets respectively at 1689 and 1719.
Scenario 2a. If participation on the long side does not show up at around the 1632 area and price dips below 1620, we could witness a swift move lower into the next area of support where Program Trading will pick up price. That is down at the 1454 area.
Scenario 2b. We could still see a bounce at the 1632 area and then current highs retested and then a swift move lower. The trigger, again, will be price piercing below the 1620 level.
You can find a better explanation of these scenarios in my last blog's post: http://elitefive.wordpress.com/2013/...lish-language/
Please let me have your ideas and suggestions.
Thank you
-fibstalker
"markets traded by programs/HFT offer a significant trading edge..."
- Post# 43,475
- Quote
- May 22, 2013 2:57pm
Hey guys remember EuroTrader JD, here is his website if you miss him (like I do 
), where he posts what he used to post here (his trades and views basically), I hope admins don't mind since it is not a forum or anything like that. http://www.solomonalchemy.com/
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
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