EURUSD

Nope....it's south bound

Honestly couldn't say. I agree with acumen tho that some retracement is likely, and I'll probably be a little nervous if we don't get it... In fact, I know I will. The other thing is that retrace or not, i think some degree of consolidation is most likely.

Most of these major pairs are in some degree of exhaustion imo. Most of them have turned multi hundred or even multi thousand pip rounds in a few cases in a few days. At some point even the big dogs have to take a moment and digest the action... It will be harder and harder to make or sustain new highs or new lows until things catch a new wind. that's my opinion only of course.

If I'm wrong, rest assured I plan to trade the bejabbers out of it every pip either way...

The caution at this point imo, is that we begin to see moves where there really aren't any... hence my previous post a bit ago. If by the end of this week, we've all got cabin fever, and we're threatening to go get a job instead of stare at the screen for another week... then i expect the games are about to begin anew.

That said, obviously my bias is down, and I'm keeping my longer term shorts open as most of the profits are already locked in. The close markets add a quirk into this as well. Won't bother me a bit to stand aside alot this week. Got nothin to prove and everything to lose. As easy as makin 'em was last week, it'll be even easier to give 'em back this week. Mark my words.

So to answer your question, my best guess is somewhere a'rd where we are right now or a bit higher even, and that's not based on any chart, but the total range of PA.

PS That little toe dipper short from 3620 just cracked an even 160 pips a few minutes ago. If ANYBODY has paid ANY attention at all to Acumens posts on that number they should have been in that trade, even if just a little bit. It's not always rocket science...

yes,
looking for the 100th pips......

don't know to what you refer, there was a pm tho i think that was. i'm a little confused right now

80% of the gap had been fill got the feeling towards north (just my opinion only)

Seems to be supported at 15m Fibo 38.2% (1.3480). Let's wait for confirmation on reversal.

on this last downmove i think we got our connecting candlestick for this uptrend (the second bullish candlestick which was almost maribozu does not count because it had no spike on the low end. in any case..notice how each wall has been acting as support/ resistance...will be interesting how this candlestick closes.

one thing i didnt mention before....in lets say a downtrend where fibs encounter strong resistance once broken at 23.6% it means the pair will go lower...the easiest way to figure out is see how the candlestick closest to the 23.6% level closes..if its still confusing the second candlestick after that will say for certain

as for breaks up or down...simple...the last blue wall for the upside broken(candlestick close above it with the next candle doing the same)=new high
for break down...a break of the 23.6% level with it becoming resistance=new low


the problem with any indicator is waiting for confirmation..by the time confirmation is made the big move may already have happened. this is where intuition and interpretation comes into play...picking your side before your side starts winning

Here's a bit of what I was concerned about last week starting to rear it's ugly head... the pic below is from the homepage for http://www.odlmarkets.com/

Check this out from the GY thread...
Currently have fixed IBFX spreads of 4-6 on EU, and 8 on EJ, 7 on UJ, and 12-40 on GY still, with no real price movement and for no apparent reason other than above. The odl blurb is the only actual admission or announcement I've been able to find so far.

Here's my post from last Friday night. G'nite all.
http://www.forexfactory.com/showpost...ostcount=38896

Who knows what we'll be talkin about this time next month...

final tip for the night. when we reached the low earlier note that the 15min candlestick had quite a spike. in normal situations such volumes always get filled...it may take 15minutes or 5 hours...you never know but that almost always happens. that does not mean that it will go much lower from there...price action will be determined by the first bullish candlestick after that low is reached again...and whether the bear candlestick before it was a full volume or not. this is just for the past fear hours. the bigger picture is looking at the daily candlesticks on eur/usd. there are massive spikes to the upside that is volume that needs to be filled...my stance on 1.38 being reached is still holding strong

I am currently long since the last candle high goes...

I have ODL and my spreads on most EUR pairs, GU, and UJ is 2 pips all the time. GJ is 9 pips. AJ is 10 pips since last week so I use a different broker when I trade that pair. Still, I wonder if it's time to start moving some money around. I'm not endorsing ODL. Just stating some facts and my own personal opinion.

Can we consider the weekend gap closed yet?

Not by exact definition but the price touched the last high of friday so I think that's the best we are going to get from this gap.

Btw, interestingly if the price will go up from today, it will still mean a divergence on daily chart.

Not really.

tell me if this answers your question

yeah not sure, leaves me feeling somewhat unsatisfied.
According to my broker, the gap starts from 1.3406...

so right now the pair is at the neckie and trying to break above it...a clear break can send us way higher today. .....or not

just realised sydney and tokyo are closed right now

for those of you thinking entering long...1.3575/85 will be the area to watch...im pretty sure it will come...if that uptrend black line does not get broken...buy buy buy!

EDIT: it could go as low as 1.3545 as that is 61.8% retracement and currently tap the uptrend black line...still bias today is LONG



woulda made 250pips today already =/..too bad im punished for breaking mm friday...ah well

all i said in my previous post still holds true. here is why..we havent even broken the current uptrend on the 15min channel

23.6% acted as support for now