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EURUSD

  • #68,501
  • Feb 24, 2009 11:47am Feb 24, 2009 11:47am
Quoting PracticalPip
Pretty quiet in here... I guess the room is filled with bears and they're all trying to figure out when the pain will end?
Just lurking mate. Just lurking.
Not all sins are created equal
  • #68,502
  • Feb 24, 2009 11:49am Feb 24, 2009 11:49am
Quoting PracticalPip
Pretty quiet in here... I guess the room is filled with bears and they're all trying to figure out when the pain will end?
Nope. I'm long since 1.2756. Targeting 50 pips but already lock 10 pips for my breakfast.

And... I bring all of my supporters to shout go EUR go. Wish me luck friends.

Attached Image (click to enlarge)
Click to Enlarge Name: ultraman.jpg Size: 69 KB
Manage your risk accordingly and you're half done your home work.
  • #68,503
  • Feb 24, 2009 11:49am Feb 24, 2009 11:49am
If you look at a one minute chart right now there is a classic stop hunt in progress for the 1.2805 stops waiting to be picked off.

It is classic because the volume is very light so it does not take a lot of capital to move the price relatively. Have to see of price can get there. My bet is that it will and then will fall back.
  • #68,504
  • Feb 24, 2009 11:51am Feb 24, 2009 11:51am
Quoting Spsantos
Nope.

http://www.investopedia.com/terms/c/cupandhandle.asp


ohh my mistake. very sorry. Cup of tea, or cup and handle, bullish formation and thanks for show me my error too. i don't know why i have in my mind this formation for bearish continuation.... very sorry...


so the chart must looks like this:
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 26 KB
  • #68,505
  • Feb 24, 2009 11:53am Feb 24, 2009 11:53am
S&P holding up surprisingly good. If it closes above 750 I call EUR over .28
  • #68,506
  • Feb 24, 2009 11:53am Feb 24, 2009 11:53am
Quoting cesarg
ohh my mistake. very sorry. Cup of tea, or cup and handle, bullish formation and thanks for show me my error too. i don't know why i have in my mind this formation for bearish continuation.... very sorry...


so the chart must looks like this:
Which also happens to be a bullish W reversal pattern
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #68,507
  • Feb 24, 2009 11:54am Feb 24, 2009 11:54am
Quoting thatwasme
If you look at a one minute chart right now there is a classic stop hunt in progress for the 1.2805 stops waiting to be picked off.

It is classic because the volume is very light so it does not take a lot of capital to move the price relatively. Have to see of price can get there. My bet is that it will and then will fall back.
Ello mate. What are you predictions on this pair from your analysis?

I hope you're well.
Probability Professor
  • #68,508
  • Feb 24, 2009 11:55am Feb 24, 2009 11:55am
Quoting Galation
Alright mate. What are you predictions on this pair from your analysis?

I hope you're well.
I have no idea. I live in the moment. LOL I trade congestion areas looking for these types of traps.
  • #68,509
  • Feb 24, 2009 11:58am Feb 24, 2009 11:58am
Quoting PracticalPip
Pretty quiet in here... I guess the room is filled with bears and they're all trying to figure out when the pain will end?
Iam a bull . but i think that the damn thing is going to 1.2475 before the bears begin to take profit and buy it again. EU rise is only due of DJ retrace.
  • #68,510
  • Feb 24, 2009 11:58am Feb 24, 2009 11:58am
Quoting cesarg
hi all, i am watching in the 1H a cup of tea (cup and handle) formation, which is bullish.

As others have said, this is a misinterpretation and a misread, but even if it were true, I wouldn't be so sure that it would break that historic support so easily...
  • #68,511
  • Feb 24, 2009 11:58am Feb 24, 2009 11:58am
Quoting thatwasme
I have no idea. I live in the moment. LOL I trade congestion areas looking for these types of traps.
Institutions: what a bunch of benders. Seriously.

Are you in any positions at the mo, or gazing in from the side lines?
Probability Professor
  • #68,512
  • Feb 24, 2009 11:59am Feb 24, 2009 11:59am
Looks like there is something big just past 1.2800

They are defending the level vigorously.
  • #68,513
  • Feb 24, 2009 12:01pm Feb 24, 2009 12:01pm
Quoting Galation
Institutions: what a bunch of benders. Seriously.

Are you in any positions at the mo, or gazing in from the side lines?
I have a sell limit at 1.2805, but it is looking like the defenders are stronger. I may wait a bit for the second assault before I pull my limit Short orders,
  • #68,514
  • Feb 24, 2009 12:04pm Feb 24, 2009 12:04pm
Quoting thatwasme
I have a sell limit at 1.2805, but it is looking like the defenders are stronger. I may wait a bit for the second assault before I pull my limit Short orders,
Strong resistance too @1.27705
  • #68,515
  • Feb 24, 2009 12:05pm Feb 24, 2009 12:05pm
Quoting waynkon
Strong resistance too @1.27705
You mean support now then right?
  • #68,516
  • Feb 24, 2009 12:07pm Feb 24, 2009 12:07pm
Quoting waynkon
Strong resistance too @1.27705
Resistance so near to support ? that just not enough volume. We will see 1.2500 soon. But as alyehoud said i dont think we will break that 1.23xx level.
  • #68,517
  • Feb 24, 2009 12:07pm Feb 24, 2009 12:07pm
Quoting PracticalPip
You mean support now then right?
Strong ONE
  • #68,518
  • Feb 24, 2009 12:08pm Feb 24, 2009 12:08pm
So what is the price saying? It is saying that it is going to take a lot of push to get past 1.2805. There is some big stuff there and it is being defended fully. All the demand and more is being absorbed at 1.2800 to prevent the run on 1.2805.

That tells me that is our major resistance.
  • #68,519
  • Feb 24, 2009 12:08pm Feb 24, 2009 12:08pm
Quoting Terminale
We will see 1.2500 soon.
lol... you must be trapped in a short position.
  • #68,520
  • Feb 24, 2009 12:12pm Feb 24, 2009 12:12pm
now the cup n handle (cup of tea for some of you) is up side down @ 2775 on 1m
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