After 1.2975/78, Next Resistance - 2991/94, but if it will get there - overshoots to and beyond 1.3000 will happen naturally..
69
EurAnalysis Kindergarten 24 replies
DislikedAfter the wide ranged breakout candle at the end of Frankies Hour, we've had two small high volume green spinning tops / dojis, telling us that sellers have stepped in and this selling needs to be absorbed before any move higher.
As the earlier highs ~the 61.8% retrace held as support, I'm holding my longs for a run up towards today's R1 at 2975 and then the LFL ATR projection zone starting at 2990 - also Pte Jackson's sellers area towards the 3000 level....Ignored
DislikedDear Islander,
would you have also some guide how to use it?
Regards
asldusIgnored
DislikedGood morning folks...
Technically, we are still within the confines of the range I outlined yesterday. 1.3010 on the topside and 1.2840 on the bottom. Therefore, until I see a break and continuation from either level, we are directionless and ranging.
As always, be well and trade safe.Ignored
DislikedBro, Target BEARISH Trend until Price 1.2466. These Really so DEEPEST ?Ignored
DislikedGood morning folks...
New developments have surfaced since yesterday's post in the way of some tricky issues with the Greek debt buy-back program. It seems that the banks are unwilling and/or unable to participate voluntarily in any such program because such buyback is targeting 35 cents on the Euro whilst the book value of the bonds on the banks books sits at 46.5 cents on the Euro. As such, a voluntary participation in the program amounts to nothing less than another haircut very soon after a 53.5 cent haircut earlier this year. I will...Ignored
DislikedIf 2930 holds us up, we are going to test new highs but looks like a top on H1 here for both Fibre and EurJpy... EJ is right at that upper TL which is middle of my channel and Fibre is 20 pips from HUGE resistance on daily (TL coming off tops on D1).
All this points to lower but will need 106.20 and 1.2930 to get out the way first otherwise we are going to try and break it.
I'll be putting my trades in this morning as I'm not here today. Taking shorts with larger SL probably but still need to see. Will edit this post to show entries and TP's
BTW,...Ignored
Dislikedselling at these levels is insane 90 min before initial job claims. break out the craps tables if we're doing that
in other news, i hate news driven, bull marketsIgnored
DislikedI am adding long at 1.2980 for scalping target 1.3+ or if a runner.
Shorting? Will wait and see.Ignored
Dislikedas much as i hate getting long in the face of such US economic peril, it is likely the thing to do or stand aside. trying to pick a top here is a bad idea. low volume risk-on can make dangerous moves. sure it may break down, but it might not. forget technicals & fundementals when a press announcement from boehner reverses a -1% bear day into a +1% bull day.
no one can say what it will do right unless they truly have that crystal ball. markets have been utter shit the past 2 weeks and i have to admit its a little scary.Ignored
DislikedAgreed. It's low leverage and want to get paid for watching the square screensIgnored
Dislikedgl my friend. this entire market as a whole right now is entirely all about beta. i am only trading with the trend as it emerges, not in anticipation. some indie floor traders i know on the CME have already closed up shop for the year due to the exceptionally squirrelly markets and uncertainty that we currently face.Ignored
DislikedProbably their smartest trade this year. Indies have flown out the window this year. Not worth their salt until this fiscal cliff issue comes to a conclusion.Ignored