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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #42,501
  • Jul 12, 2012 4:56am Jul 12, 2012 4:56am
Quoting Cgb
I am so tempted to take profit when it reaches Daily S2 at 1.2165 and Daily S3 (at 1.2120) seems pretty far.

Decisions, decisions...
Take partial profit
Those who say it cannot be done should not interrupt those who are doing it
  • #42,502
  • Jul 12, 2012 5:02am Jul 12, 2012 5:02am
i m glad
  • #42,503
  • Jul 12, 2012 5:07am Jul 12, 2012 5:07am
I am wondering what you guys think about a pending short order in the 1.2210-1.2230 area for NY session
  • #42,504
  • Jul 12, 2012 5:07am Jul 12, 2012 5:07am
Quoting Cgb
I am so tempted to take profit when it reaches Daily S2 at 1.2165 and Daily S3 (at 1.2120) seems pretty far.

Decisions, decisions...
Good morning all...question
what does a falling wedge do when it hits support?
looking at weekly and i see this pattern...and currently a bounce is occuring from support.
but i still see no bottom yet from my chart
thx all
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdw12.gif Size: 39 KB
Wooooohooooo or Boooooohooooo
  • #42,505
  • Jul 12, 2012 5:14am Jul 12, 2012 5:14am
Quoting gnomoneey
Good morning all...question
what does a falling wedge do when it hits support?
looking at weekly and i see this pattern...and currently a bounce is occuring from support.
but i still see no bottom yet from my chart
thx all
A Falling Wedge is a reveral pattern occurring in a down trend. Traders will take an entry (long) when the price touches the bottom trend line which has at least three touch points to it. Watch for high volume to confirm breakout of the top trend line. There's a high probability of a throw back after the breakout to re-test the top trend line. Calculated target of the breakout (or after the throw back) is the width of the wedge's opening.

See link for more: http://stockcharts.com/school/doku.p...g_wedge_revers
I observe your reality but live my own.
  • #42,506
  • Jul 12, 2012 5:19am Jul 12, 2012 5:19am
Chart that I'm wathing closely... USDX. A close of the 15M below the thick green line and we've going back to the 83.700 levels.

This should all become clear in about 15 minutes with the job claims.
Attached Image (click to enlarge)
Click to Enlarge Name: USDX_Jul12_0816.gif Size: 88 KB
I observe your reality but live my own.
  • #42,507
  • Jul 12, 2012 5:20am Jul 12, 2012 5:20am
Quoting Cgb
A Falling Wedge is a reveral pattern occurring in a down trend. Traders will take an entry (long) when the price touches the bottom trend line which has at least three touch points to it. Watch for high volume to confirm breakout of the top trend line. There's a high probability of a throw back after the breakout to re-test the top trend line. Calculated target of the breakout (or after the throw back) is the width of the wedge's opening.

See link for more: http://stockcharts.com/school/doku.p...g_wedge_revers...
ok thanks....but i still don't see a stop on this fall....at least 1.20 for next support
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm1.gif Size: 38 KB
Wooooohooooo or Boooooohooooo
  • #42,508
  • Jul 12, 2012 5:27am Jul 12, 2012 5:27am
Quoting gnomoneey
ok thanks....but i still don't see a stop on this fall....at least 1.20 for next support
This is my weekly chart. Weekly support is at 1.19 with a possivle extention (on the wick) to 1.17xx
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Jul12_0824.gif Size: 148 KB
I observe your reality but live my own.
  • #42,509
  • Jul 12, 2012 5:29am Jul 12, 2012 5:29am
we need a theme song like monday night football (in the US)

Are you ready for some job numbers, a thursday morning disaster. Well its thursday morning and we are ready to fight so grab the bears because its gonna be a blood bath tonight.....
  • #42,510
  • Jul 12, 2012 5:30am Jul 12, 2012 5:30am
Quoting Kaizen FX
Thanx mate..i hope ur kindness will be rewarded with green pips everyday.gluck in trading.all the best!
That one is from PT, so thanks him
  • #42,511
  • Jul 12, 2012 5:37am Jul 12, 2012 5:37am
Quoting Cgb
This is my weekly chart. Weekly support is at 1.19 with a possivle extention (on the wick) to 1.17xx
looking at this chart what is the high probablity of trading short or long at this point...i myself is leaning towards staying short but with 4h closing above the falling wedge support i'm changing my mind....so the questions starts
thx G
Wooooohooooo or Boooooohooooo
  • #42,512
  • Jul 12, 2012 5:46am Jul 12, 2012 5:46am
Quoting gnomoneey
Good morning all...question
what does a falling wedge do when it hits support?
looking at weekly and i see this pattern...and currently a bounce is occuring from support.
but i still see no bottom yet from my chart
thx all
Sorry to disappoint you (Or happy to excite you).. which ever the case is. That is not a falling wedge. The bottom trend line has to start after the high and not before it.

What we have here is two falling channels (Aqua and Blue).
You can use the Aqua resistance and the Blue support as a falling wedge guide if you wish... in which case we still have a little way to go before we hit bottom.

E/U W1
Attached Image (click to enlarge)
Click to Enlarge Name: eu-w1.gif Size: 38 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #42,513
  • Jul 12, 2012 5:49am Jul 12, 2012 5:49am
CNBC is trying so hard to pump up this job report.

Headline- "US Futures pare losses after job numbers"

LOL we added like 15 points. Come on man'
  • #42,514
  • Jul 12, 2012 5:52am Jul 12, 2012 5:52am
Quoting PipSwing
CNBC is trying so hard to pump up this job report.

Headline- "US Futures pare losses after job numbers"

LOL we added like 15 points. Come on man'
and lost them is less time..
Those who say it cannot be done should not interrupt those who are doing it
  • #42,515
  • Jul 12, 2012 5:54am Jul 12, 2012 5:54am
Quoting PipTrapper
and lost them is less time..
I would like to shed another 200 today

Then when JPM announces they got caught behind the bushes with their pants down and lost way more than anyone thought we can shed another 150 tomorrow.
  • #42,516
  • Jul 12, 2012 5:55am Jul 12, 2012 5:55am
Quoting PipTrapper
and lost them is less time..
Touched Daily S2 and bounced back up.
I observe your reality but live my own.
  • #42,517
  • Jul 12, 2012 5:59am Jul 12, 2012 5:59am
Quoting Cgb
Touched Daily S2 and bounced back up.
But for how long?
  • #42,518
  • Jul 12, 2012 6:01am Jul 12, 2012 6:01am
Quoting Cgb
Touched Daily S2 and bounced back up.
We'll probably test daily S1 (1.2200 area) before next move down.
Those who say it cannot be done should not interrupt those who are doing it
  • #42,519
  • Jul 12, 2012 6:01am Jul 12, 2012 6:01am
Quoting andys0506
But for how long?
At least one tick which would have been enough to take profit had I left my TP level intact.
I observe your reality but live my own.
  • #42,520
  • Jul 12, 2012 6:02am Jul 12, 2012 6:02am
Quoting PipSwing
I would like to shed another 200 today

Then when JPM announces they got caught behind the bushes with their pants down and lost way more than anyone thought we can shed another 150 tomorrow.
A Prize will be awarded for the closest number to the loss.

My call is 10 Billion.

Prize - A Date with my Executive Assisant - Age 25 - Beautiful - Pictures to follow. Buffet Show over now...
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