EURUSD

I've enabled it. thank you.

I'm short from 2868 but just saw a Demark Trend Line break on the EU H1.

My only concern is that it is near my Daily Pivot Point (2842) and it is having trouble punching through there. If the TL break holds, the price projection is at 2768 which would be a nice 100 pip win for me.

http://screencast.com/t/DLWWreFN

I also have been using Demark TLs for about a year.
This 1H break you talk about isn't a break until the bar closes.
The last 1H bar closed above.
this bar is below, but not closed yet..... be patient.

But as you said, DP, 200ema on 5m, 21ema on the 30m.... so there is some stuff there to bust through first.

Also, MACD, CCI and ADX are all UP still.... weak, but UP.
Wait for the signal.... patience.

personally, think we'll get another tiny run up before a drop just before London open or at London open.

trade your charts.

scalped out about 200 pips today, so I'm gonna look stuff over and then head to bed here in PST land....

back had the need to breed.. done the deed so here i heed. this is my creed i was born to lead.

[BOJ GOV SHIRAKAWA] says today's measure to buy bank owned shares is aimed at providing a safety net and will help financial stability.

The o/n low of 1.2460 which supported the [AUD/NZD] provided the springboard for the pair's recovery to an intraday high around the 1.2620 on strong buying from a UK Clearer and European name from around the 1.2530 level. The catalyst for the move higher was the announcement of the A$42 bln stimulus package by Aust PM Kevin Rudd and the RBA 100 bps rate cut which is expected to improve Aust economic performance over coming months. Another factor for the strong buying was the narrowing of interest differentials between the A$ and NZ$ which is now at only 0.25% in favour of the Kiwi but this is expected to be reverse in the near future. A break of resistance at 1.2655 is neede for the pair to challenge the 1.2800 again. Bids at 1.2540 now seen providing immediate support while offers at 1.2670 seen capping the topside for now.



[AUST DATA PREVIEWS] December's official retail sales report features on Wed at 00.30GMT. Forecasts are on spending rising by a firmer 1.4% on a seasonally adjusted basis after a 0.4% gain prior and by a less distinct 0.3% on a trend basis versus a 0.1% rise prior. Risks are viewed clearly to the upside; with one off fiscal payments and RBA's cumulative 300bps of interest rate cuts since Sept, estimated to have provided a massive cash boost to Aussie households of around $9.4 bln in the December month alone. Building approvals are due at the same time, and expected to rise by 2.5% on the month in a partial technical rebound to Nov's 12.8 slump. Here, risks are also skewed to the upside, as substantially lower mortgage rates and the Govt's grant to first home buyers starts to have a positive impact on the reading.


ASIAN CLOSE] The RBA hacked interest rates by another 100 bps to 3.25% which was expected by a majority of market players and this together with the A$42 bln package saw the Aud/Usd caught a bid to an intraday high of 0.6421.

Good days to everyone here!

I took a small risk to short at 2845 (Just above the my daily pivot 2843), am looking at 2805 for a 40 pips trade.

May shift my TP to slightly above S1 at 276x too depending on the movement.

stronger yen... looks like..

[MORE FROM GOV SHIRAKAWA] who strongly warns that printing money could harm the credibility of the Yen and cause long term rates to rise. Shirakawa adds that he could also prevent BOJ from making swift adjustments to the financial system, and harm the country's fiscal health. The Governor's comments are in response to a few ruling party lawmakers recently floating the idea of the Govt printing its own notes.

The [AUD/USD] which had earlier reached an intraday high around the 0.6420 level retreated back below the 0.6400 level to current level of 0.6350 on selling from a UK Clearer and a M/E party. The pair was also weighed down by profit taking in the Aud/Jpy cross by Japanese investors and spec types. With the Eur and Gbp looking rather wobbly ahead of the European session, further selling in the pair towards the 0.6296 and 0.6248 support levels cannot be ruled out. Spec bids at 0.6305 will provide some support on the way down.

short term bullish above 2900 bearish below 2800

Glad to see another West Coast Trader (WCT) and one that uses Demark no less. I'm in Orange County, btw

Anyway, I went back and looked at the source, The New Science Of Technical Analysis, and I believe that the an open above or below the trend line is a Qualifier 2 and that the whole point of the qualified breakout is to allow an intraday (or intrabar) entry. See the last sentence of page 51. Also see pages 94 and 95 of DeMark Indicators by Jason Perl. I could be just misundersanding the text, but this is the way I interpret it.

Good job on the scalping. My weekly goal is only 150 pips so 200/day seems high for me.

Well...against my analysis, I feel to close this short (from 1.2902)...just posting here, because if i have sent this message above, I have an obligation to close it (maybe I am wrong and we will still retest 1.2750...but....already closed at 1.2826)

apple bottom jeans!... loose w/ tha fur!... the whole market is lookin' at hurrr!... she hit the floe! she want some moe! shorty get low, get low, get low, get low....

[EYEING THE DJI FOR RISK APPETITE DRIVER] Dow Futures currently trades flat in opening exchanges in Europe, this follows the -64 Dow and -48 Nikkei earlier. The sombre tone comes despite fresh stimulatory measures from around the globe. See page.


[EUROPEAN FX OPEN] FX pairs open little changed from last night's close, with a slightly calmer feel to trade as equities retrace Mon's losses. Welcome news came from the BoJ, who said it would start buying shares held by Japanese banks, whilst the Aud found support from news of a second government stimulus package worth Aud 42bln. See page . 06:56 GMT - The [AUD/USD] which had earlier reached an intraday high around the 0.6420 level retreated back below the 0.6400 level to current level of 0.6350 on selling from a UK Clearer and a M/E party. The pair was also weighed down by profit taking in the Aud/Jpy cross by Japanese investors and spec types. With the Eur and Gbp looking rather wobbly ahead of the European session, further selling in the pair towards the 0.6296 and 0.6248 support levels cannot be ruled out. Spec bids at 0.6305 will provide some support on the way down.

expectations and has raised its FY operating profit forecast on the impact of FX. [BP] reports Q4 replacement cost profit down 23.8% y/y to Usd2.6 bln with the FY figure up 39% to Usd25.6 bln. [IMPERIAL TOBACCO] comments that it sees FY in line with expectations with a positive effect from FX, while [SAS] reports a FY loss from continuing operations (before nonrecurring items) of SEK395 mln (Eur36.9 mln) from an SEK1.2 bln profit a year ago. The company also launched an SEK6 bln rights issue and announced job cuts of 3,000 with a focus on the Nordic home market.

hey,
I'm from West Hills.
Up by Calabasis area.
Work in the tv/movie industry....go figure.
Becoming a pro trader to be able to not have to work 75 hour work weeks my whole life..

Well, we just shot up in price... hence my warning about Demark.
You have to take in alot of considerations.
EMAs, S/R levels.... Demark is good, but you have to know how to interpret it.

I'm on Skype if you want to chat when I find time to trade.

kurt

good morning.

i see that eur on 1h chart has run out of trendline...
now i think it can go higher

how do you think?

Not for a short time yet I think.
Have to visit Old Aunt 1.2800 Before I Run...
Curr @ 1.2840

i hope so, so i can get into better short positions.

[EUROPEAN STOCK MARKETS] looking to open between +0.5% and +0.75% higher as a small rally in US tech stocks, +1.2%, and BOJ intervention to stabilise banking system aids some Asian bourses to post positive closes. Australia also cuts rates by 100bps to record low of 3.25% and announces second stimulus package of A$42bn. Mining giant Rio Tinto in talks with Chinalco about cash injection, Barclays fall over 10% yesterday on downgrade/debt concerns, German printing press maker Heidelberger Druck seen sharply higher on good Q3 results, Hypo Real Estate getting German Govt vote of confidence. Early results from BP see Europe's second largest oil co sees Q4loss, first in 7 years. Talk in FT that European equity issuance could reach Eur300bn in 2009 - highest level since tech boom of 2001.

[EUR/USD] shrugging aside the earlier disappointing German Dec retail sales report. The session's standout EU release came in at -0.2% m/m and -0.3% y/y, with the previous month revised softer too. To come is just EU PPI (-1.1% m/m f/c), although there could be fallout from earlier comments from ECB's Draghi. The board member said large and lasting fiscal packages are key to the economic recovery and there is 'not much room left to go' to lower interest rates. On balance, we would continue to look for fresh sell opportunities, but the still thin conditions suggests it is best to wait for the right levels. These looks to be from 1.2900, 1.2925/30 and up to the 1.2990/00 area and the 200-hour mov ave.

[CABLE] has been trading out a rough 1.4160 - 1.4300 range over the past 12 hours, although has opened in Europe largely unchanged from Mon's closing level. Talk of a Middle Eastern name bidding at 1.4150 has helped contain losses, whilst offers are starting to build ahead of 1.4300. The big drop off Fri/Mon's 1.4545 high has however shifted the overall focus to the downside, with bears now eyeing the 1.4022 initial target and 50% retrace level. Recent UK data releases point to another BoE rate cut this week - 50bp would see rates down to 1%, and should keep a sell-strength bias in tact. Elsewhere, slightly more upbeat news saw Vodafone Group beat third quarter forecasts for revenues, boosted by exchange rates.