EURUSD

You're brave scalping with IBFX.

I don't know about Ibfx, i'm scalping with Alpari Uk i ususally make 10 sec - 1 minute scalps... dependind on the strength of the trend even more. No problems so far.

Bemac bows to the will of the populus...

Good evening all.

Kick a$$ and bank a Month's worth this week because it will be a Month or more till the Market returns to normality. {Not withstanding that The Markets have not been Normal for Months now.}

Touche. {What's my post count now???}

Agree yikes IBFX spreads are insane ... ie. Everyone hates spreads but FXCM has the spread in between 2-3.5 consistently even on weekend opening.

Good Luck dude.

-powered

the euro just shot up.

Let see now, looks like a break...

Next stop? I have 1.34580 has Monthly R2

Holy Smokes! I didnt see that coming

Stop losses triggered. A lot of sellers should have stop losses around 1.34-1.342

R1 out of the gate... looks fishy to me. I'd sell it before I bought it at this point..

Wait!! I did...

there must have been a lot of them

Just look at the chart and check 2 days ranging and gaining a lot of potential, either side... If it would break south should be around the same.

whats key now is the pullback to 1.3415. As that was the previous high it is crucial to see now whether it has become support or this was just a false spike up. If no pullback to that level happens...unless you are already long you are gambling...if you try to enter short without proving that movement above 1.3415 was just a spike..you are gambling. Careful pippin all or dont pip at all..flat is quite nice for me

At this point in time, I do not have enough info to speculate. But; Interested to observe how it plays. Should be well worth watching.

Nice Angle Knucks

all of my indicators show greatly oversold conditions. but i won't get in until monday morning.

I have to disagree... I have the whole 50 pip zone between 3400 and 3450 marked as strong horizontal s/r from summer 2007 and again early fall 2008 and it just hit the top of it...

I rarely look at Friday PA which is what got us here as anything other than what it is... "Friday PA" and that holds no to little water with me 9 times out of 10.

I will almost ALWAYS trade these kind of s/r tests becuz I can reduce my stops to less than usual with a better than usual risk reward ratio. There's alot more downside that I can gain as opposed to a smaller fixed loss should it continue to the upside. If correct, I might be holding these entries for a good portion of the week. If wrong, I might be done for the week as I'm losing interest anyway.

In any event, this is a perfect trading environment for me, except for the unknown factor of probable thin liquidity which always skews the follow up action. So I'll see...

3h and 1h patter suggest that we should see 1.35 or even 1.36 most likely tomorrow. Just wish it would pullback to 1.34 for a long

So what your saying is you think this is the high of the week and we are going to go only south from here...regardless of lets say fed rate cut speculation later on in the week or the many resistances we broke through already?...im curious as you know i hold a short bias myself since last week from that one post where you asked me "how high can it go before it crashes". What are your reasons other then meeting yearly resistance?

there is a tempting short right now.

One other note here on my shorts from this level...

One of my strongest MA's is the 50ema on mid to longer TF's, 30m and above.

It's also trading just above the weekly 200sma courtesy of last Friday's PA.

My monthly 50ema shows 3430 give or take a few. That in addition to my monthly TL at this level is all i need to see to enter... I figure if I can't trade what has proven to work for me in this market, then it's time to bag it until the market depth returns... I'm not going to spend the time trying to figure out the "unfigureables" of the Christmas season market. Pointless imo.

have a look at this. going south for sure.