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  • #188,801
  • Feb 3, 2010 12:14am Feb 3, 2010 12:14am
Price over the past couple of days has been rallying upwards into the most recent 4h Downswing. I will be watching price closely when it approaches the 1.4006 – 1.4028 area, as there are a few levels of resistance in that area from both the 4h TF as well as the Daily TF. Then there is also the inner levels of the most recent downswing (white fib). Once price impacts that level if it looks like sell orders are being triggered then I will look for possible short entries into the market. Market Sentiment on both the Daily TF as well as the 4h TF is bearish.
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  • #188,802
  • Feb 3, 2010 12:16am Feb 3, 2010 12:16am
Quoting sierra
i think it start to go down now?
I am expecting a range +/- 10-15 pips max either side of the LO @ .3977 for the next couple hours.

There's some kind of EC get-together to consider a Greek debt management plan with news supposedly out at 1000 GMT. If that comes out ok maybe the euro won't get sold...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #188,803
  • Feb 3, 2010 12:16am Feb 3, 2010 12:16am
Short @ 1.3985 old resistance and really high vol on the upthrust
TP 1.3900
COT: The precious data ignored
  • #188,804
  • Feb 3, 2010 12:18am Feb 3, 2010 12:18am
Quoting Mr Hatch
January, 12th.
Better to start with real money but small amount then demo if u can turn 1000$ to a 10,000$ , then u can do the same with 1mln > to 10mln$
  • #188,805
  • Feb 3, 2010 12:20am Feb 3, 2010 12:20am
Quoting The Fool
I am expecting a range +/- 10-15 pips max either side of the LO @ .3977 for the next couple hours.

There's some kind of EC get-together to consider a Greek debt management plan with news supposedly out at 1000 GMT. If that comes out ok maybe the euro won't get sold...
Yeah good point! The Greek news might upstage NFP!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #188,806
  • Feb 3, 2010 12:21am Feb 3, 2010 12:21am
Quoting rem15
I think 1.3982 is the spot here....excuse me if i dont know how to put it correct in eng...but its 38,2 fibo level measured on the last big wave down (on H4)

2 earlier retraces hit the same level - measured for their waves down - and formed a flag formation

I am still a noob so please verify if my thinking is correct :-)
still possible to reach 4025 area before going down again... refer daily tf.. hence the bull may have a chance before bear takes over.. if price closed above 4200, it's a warning that the trend reversal is actually brewing... and if price go over 4585 then I can say the the bottom @ 3850 is already established and trend is reversing to north... my 2 cents.
Be a sniper not a jumper
  • #188,807
  • Feb 3, 2010 12:25am Feb 3, 2010 12:25am
Quoting realjumper
Yeah good point! The Greek news might upstage NFP!!
i was hear in unofficial statement, they are ready accept theirs plan...but trade your chart
  • #188,808
  • Feb 3, 2010 12:27am Feb 3, 2010 12:27am
Can somebody confirm on the H1 the last candle is a shooting star?
  • #188,809
  • Feb 3, 2010 12:28am Feb 3, 2010 12:28am
Quoting The Fool
I am expecting a range +/- 10-15 pips max either side of the LO @ .3977 for the next couple hours.

There's some kind of EC get-together to consider a Greek debt management plan with news supposedly out at 1000 GMT. If that comes out ok maybe the euro won't get sold...
OK throw in gyros for life & its a deal.

http://news.bbc.co.uk/2/hi/europe/8494849.stm
"If The Fool persists in his Folly he will become wise." - William Blake
  • #188,810
  • Feb 3, 2010 12:28am Feb 3, 2010 12:28am
Quoting The Fool
I am expecting a range +/- 10-15 pips max either side of the LO @ .3977 for the next couple hours.

There's some kind of EC get-together to consider a Greek debt management plan with news supposedly out at 1000 GMT. If that comes out ok maybe the euro won't get sold...
my sell limit activated at 3983.. let's see what happened next.. if go north above 4200.. i'm out!
Be a sniper not a jumper
  • #188,811
  • Feb 3, 2010 12:29am Feb 3, 2010 12:29am
Quoting Nud
i was hear in unofficial statement, they are ready accept theirs plan...but trade your chart
Lol why everyone who have bilionaire bankers friends and know things like that before news sit in here why ?
  • #188,812
  • Feb 3, 2010 12:29am Feb 3, 2010 12:29am
Quoting Nud
i was hear in unofficial statement, they are ready accept theirs plan...but trade your chart
Agreed! No way of telling how the chart might interpret the resolution.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #188,813
  • Feb 3, 2010 12:29am Feb 3, 2010 12:29am
From what I am hearing, short entry orders are being filled and that is part of the up move. 1.40 is the cutoff point, but to expect some of the stops for those orders to be taken out by a bit of a push higher above 1.40.
Then back down right around ISM.
  • #188,814
  • Feb 3, 2010 12:33am Feb 3, 2010 12:33am
Quoting sierra
my sell limit activated at 3983.. let's see what happened next.. if go north above 4200.. i'm out!
Thats a bit harsh SL - over 200 pips....where is your TP?

I have sell limit at 1.4000 and SL at 1.4030 (above fibo 50% and R2 pivot point)
  • #188,815
  • Feb 3, 2010 12:40am Feb 3, 2010 12:40am
Quoting dxvas
Can somebody confirm on the H1 the last candle is a shooting star?
it looks like it...but i think we might see some action hitting 1.4000 levels

BTW i see a possible double top on M15....is it coorect to look for such formations on this TF?
  • #188,816
  • Feb 3, 2010 12:44am Feb 3, 2010 12:44am
sell 1.3991 sl1.4053
  • #188,817
  • Feb 3, 2010 12:44am Feb 3, 2010 12:44am
Quoting rem15
Thats a bit harsh SL - over 200 pips....where is your TP?

I have sell limit at 1.4000 and SL at 1.4030 (above fibo 50% and R2 pivot point)
all my shorts tp at 3760.. i've my own reason to risk 200 pips because what i said so in earlier post.. it's part of the game.. i don't want to have my post got whipsaw and just looking that the trend going back as per my direction after that... but anyway use your MM and analysis of why you put that SL at the first place..
Be a sniper not a jumper
  • #188,818
  • Feb 3, 2010 12:45am Feb 3, 2010 12:45am
Quoting dil
Better to start with real money but small amount then demo if u can turn 1000$ to a 10,000$ , then u can do the same with 1mln > to 10mln$
I think turning $1000 to $10000 has happened or is possible,and obviously $1mln to $10mln is statistically the same but i think in reality not that easy.
  • #188,819
  • Feb 3, 2010 12:45am Feb 3, 2010 12:45am
Quoting dxvas
Can somebody confirm on the H1 the last candle is a shooting star?
Nah, doesn't mean shit without confirmation
Doing what you like is Freedom. Liking what you do is Happiness.
  • #188,820
  • Feb 3, 2010 12:46am Feb 3, 2010 12:46am
Quoting realjumper
Agreed! No way of telling how the chart might interpret the resolution.....

Sure, but take away the eurozone sovereign debt worries and it's November again. I haven't heard "Dubai" lately. If they stop whispering "Greece" ok it might be "Portugal" or "Spain" or who knows what else. But the sovereign debt stuff has been a major weight on the euro for the last couple months & if that blows over other fundamental considerations will take center stage. And none of those favor the USD.

News & fundamentals make the lines on your charts, not the other way around....
"If The Fool persists in his Folly he will become wise." - William Blake
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