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  • #262,581
  • Jun 23, 2010 8:20pm Jun 23, 2010 8:20pm
Quoting RebelRed
I'm waiting to short as well. hahaha I wonder just how many are waiting for a certain point.
I am waiting too but the daily and weekly TF are still short term bullish especially yesterday's closing candle on the daily.

My current 4H emas imply that the move north is underway so I really hope 2400 can cap it.

I won't long so will be looking and waiting to re-enter. My limit order @ 2350 missed by 7pips, oh well.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart.gif Size: 24 KB
Click to Enlarge Name: chartd.gif Size: 25 KB
  • #262,582
  • Jun 23, 2010 8:20pm Jun 23, 2010 8:20pm
Quoting fxstman
Just got in to check the charts & noticed that EU really jumped today. What did it get so excited over?
Nothing, just your typical BS rally off bad EU news.
  • #262,583
  • Jun 23, 2010 8:21pm Jun 23, 2010 8:21pm
How to not get a date.
Not all sins are created equal
  • #262,584
  • Jun 23, 2010 8:22pm Jun 23, 2010 8:22pm
Quoting realjumper
I have to wait because I have tiny little marbals...made of glass
It's allowed. No, not allowed. It's actually encouraged.

Balls of Steel can be impressive but it tends to really get wacky when there's a nearby electromagnet.
Not all sins are created equal
  • #262,585
  • Jun 23, 2010 8:23pm Jun 23, 2010 8:23pm
U lucky bastard.. you didnt trade today?

Quoting fxstman
Just got in to check the charts & noticed that EU really jumped today. What did it get so excited over?
Follow the Trend, thats all
  • #262,586
  • Jun 23, 2010 8:23pm Jun 23, 2010 8:23pm
Quoting Awesome
Nothing, just your typical BS rally off bad EU news.
Boy, thats the truth. Thx Awesome!
  • #262,587
  • Jun 23, 2010 8:25pm Jun 23, 2010 8:25pm
Quoting realjumper
I'm tempted to short this too, but really I want to short it from R1, rather than mid-stream where we are now......
that would be my first choice as well , but actually i think we're in a 20-30 pip wide zone that will work just as well. working on a 6hr chart atm that shows this better

i'm building shorts a'rd every 10pips as we climb, orders get bigger as we move up and stops get tighter. i can close them all for some loss and make it up on the either the Long trip up to wherever this thing goes, or ride it down heavier from a higher level... my bias atm.

current entries at xx36, xx25, and xx16, heaviest at the 2335 SP, but i really want at least the 2345 QP
FUBAR...
  • #262,588
  • Jun 23, 2010 8:27pm Jun 23, 2010 8:27pm
http://cdn.forexfactory.com/images/attach/pdf.gif

2010-06-24_ASIA DAILY FOREX OUTLOOK - Majors.pdf (11.6 KB)



EUR/USD - to consolidate. Pair weighed by worries over euro-zone banking system, EUR sales on falling EUR/GBP cross. But EUR/USD downside limited by broad-based USD weakness. EUR sentiment also soothed by better-than-expected flash euro-zone June composite PMI (slipped to 56.0 in June from May's 56.4, but above 55.5 forecast) Data focus: 0900 GMT euro-zone April industrial new orders. EUR/USD daily chart mixed as MACD bullish, but stochastics in bearish mode. Resistance at 1.2343-1.2353 band (yesterday's high-Tuesday's high); breach would expose upside to 1.2490 (Monday's high), then 1.2672 (May 21 reaction high, just below 55-day moving average). Support at 1.2259 (hourly chart); breach would expose downside to 1.2207 (yesterday's low), then 1.2163 (June 15 low), 1.2043 (June 11 low) and 1.1954 (June 10 low).


We sell the rallies...
Attached File(s)
File Type: pdf 2010-06-24_ASIA DAILY FOREX OUTLOOK - Majors.pdf   12 KB | 375 downloads
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #262,589
  • Jun 23, 2010 8:30pm Jun 23, 2010 8:30pm
HERE, there was some rocket going on. Bears really hate Resistance..

http://www.forexfactory.com/showthre...64#post3824964



Quoting fxstman
Boy, thats the truth. Thx Awesome!
Follow the Trend, thats all
  • #262,590
  • Jun 23, 2010 8:33pm Jun 23, 2010 8:33pm
Quoting pauly
HERE there was some rocket going on. Bears really hate Resistance..

http://www.forexfactory.com/showthre...64#post3824964
Wait for the wheel. It's always a'turning....
  • #262,591
  • Jun 23, 2010 8:38pm Jun 23, 2010 8:38pm
Quoting pauly
U lucky bastard.. you didnt trade today?
NO, but it picked up a pending sell and kept going. Lucky, no. So I didn't trade today, but I did.
  • #262,592
  • Jun 23, 2010 8:43pm Jun 23, 2010 8:43pm
Quoting ak4x
that would be my first choice as well , but actually i think we're in a 20-30 pip wide zone that will work just as well. working on a 6hr chart atm that shows this better

i'm building shorts a'rd every 10pips as we climb, orders get bigger as we move up and stops get tighter. i can close them all for some loss and make it up on the either the Long trip up to wherever this thing goes, or ride it down heavier from a higher level... my bias atm.

current entries at xx36, xx25, and xx16, heaviest at the 2335 SP, but i really want at least the 2345...
Nice.

I'm not in a trade at the moment because, like I said, I will wait for R1 and see what's cookin when/if we get there. If it looks to continue to R2, then I'll trade that. If it looks to come to the pivot, then so be it, I'll trade that.

I would like to enter a long term trade at some stage, but there doesn't seem to be any valid reason to convince me that we won't re-vist the bottom again....and lower still, perhaps. Maybe we won't.....damned if I know!

In the meantime though, I'll just play between pivots, s&r etc etc and collect bits and pieces as I go.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #262,593
  • Jun 23, 2010 8:59pm Jun 23, 2010 8:59pm
Quoting SkyzerFX
high 1.25 by Monday (1.2588-1.2605) (USDx 84.50-84.75) , keep shorting..

2550 then sell to 1900
All that is left in FF is just plain garbage. "Cloggie"
  • #262,594
  • Jun 23, 2010 9:05pm Jun 23, 2010 9:05pm
Quoting Jay Walker
How to not get a date.
This is awesome...

This reminds me traders self talk when having a trade turning bad and no stops in place... the last 20 seconds feels like the margin call moment

Not sure I understood all that he wanted to convey about her mother's job
Getting it right is NOT as important as not getting it wrong.
  • #262,595
  • Jun 23, 2010 9:08pm Jun 23, 2010 9:08pm
Quoting ak4x
... working on a 6hr chart atm that shows this better..
Posted it HERE for easier reference as this plays out... or not.
FUBAR...
  • #262,596
  • Jun 23, 2010 9:15pm Jun 23, 2010 9:15pm
It seems a lot of people feel this needs to go back to .255 before a retest of the low. Just wondering if somebody could explain the logic behind this for me. Thanks
  • #262,597
  • Jun 23, 2010 9:24pm Jun 23, 2010 9:24pm
Quoting Awesome
It seems a lot of people feel this needs to go back to .255 before a retest of the low. Just wondering if somebody could explain the logic behind this for me. Thanks
http://cdn.forexfactory.com/images/icons/icon1.gif Here is my analysis of the current eu condition.
As you can see in the chart, everytime the retrace has crossed the middle bollinger band on the daily time frame, it continued until it reached the top band. We then had a few days of consolidation, and then a hard move south. From my pattern observation, once we get 3 consecutive closes above the niddle bollinger band on the daily, we do not touch the bottom band with out at least touching the top first. Looking at the chart you can see we are just about there. Adding to this the 2500-2550 level sits just above the top band. Using the past pa, you can clearly see the price hit the top band, spiked to the closest resistance level, then resumed the trend down. This pattern also coincides with the FOMC statement due out next week.

3 scenarios.
1.We hit the top band and drop before the fOMC statement.(Which I believe will fuel the trend resumption.)
2.We hit the top band and consolidate until the FOMC statement.
3. We hit the top band and consolidate until next Friday, and then we get one of those WTF moments with a huge sell off. Either way Ihave a sell pending at 2550. Have a good weekend everyone.
Attached Image (click to enlarge)
Click to Enlarge Name: June 18th observation.jpg Size: 157 KB
All that is left in FF is just plain garbage. "Cloggie"
  • #262,598
  • Jun 23, 2010 9:30pm Jun 23, 2010 9:30pm
Quoting tonyo524
http://cdn.forexfactory.com/images/icons/icon1.gif Here is my analysis of the current eu condition.
As you can see in the chart... .
One can wish there were more posts like this one....
FUBAR...
  • #262,599
  • Jun 23, 2010 9:31pm Jun 23, 2010 9:31pm
Quoting tonyo524
http://cdn.forexfactory.com/images/icons/icon1.gif Here is my analysis of the current eu condition.
As you can see in the chart, everytime the retrace has crossed the middle bollinger band on the daily time frame, it continued until it reached the top band. We then had a few days of consolidation, and then a hard move south. From my pattern observation, once we get 3 consecutive closes above the niddle bollinger band on the daily, we do not touch the bottom band with out at least touching the top first. Looking at the chart you...
Thanks man, I appreciate you taking the time to post this. Found this very helpful.
  • #262,600
  • Jun 23, 2010 9:39pm Jun 23, 2010 9:39pm
Quoting Awesome
It seems a lot of people feel this needs to go back to .255 before a retest of the low. Just wondering if somebody could explain the logic behind this for me. Thanks
It puzzle me too. I thought this is just a retrace and it will continue to drop again.
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