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  • #273,661
  • Jul 21, 2010 8:49am Jul 21, 2010 8:49am
What im thinking?

Attached Image (click to enlarge)
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What do you think?
  • #273,662
  • Jul 21, 2010 8:56am Jul 21, 2010 8:56am
1.279 area is a 100 ema on daily and seems to be a strong support... i wonder if it s better to close shorts now and wait for clear break
Andreyou
  • #273,663
  • Jul 21, 2010 9:18am Jul 21, 2010 9:18am
eurusd h1 flag barish enter 12800 tp 12715 ??????
  • #273,664
  • Jul 21, 2010 9:29am Jul 21, 2010 9:29am
Quoting wannaberich
but it is also the 23.6 retrace from the low of 7th of June to the high of the 20th of july. which makes it an even stronger level!
checking fib levels , yes there are possible bullback , but still targeting little more 61.8% fibs 1.2722 or nearer it so that if ew works ( complicated counting , abc best fit ) for more up should not overlap here but if abc correction is over with daily sell off then all up can be over & price down from this level, possible as wave 2 of big 3 from below 38.2% fibs when bear very strong in reality.
anyway still in favour of breakout & more down , if wants up again price will find ways any time .waitng ....
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #273,665
  • Jul 21, 2010 9:35am Jul 21, 2010 9:35am
got stopped out on those tight sls.

reentering short at 40 and 50. higher sl. if we are to reverse we should still see another trial with lower supply as this last try was with higher supply than the previous.

hapipipin

Quoting fontu
checking fib levels , yes there are possible bullback , but still targeting little more 61.8% fibs 1.2722 or nearer it so that if ew works ( complicated counting , abc best fit ) for more up should not overlap here but if abc correction is over with daily sell off then all up can be over & price down this level, possible as wave 2 of big 3 from below 38.2% fibs when bear very strong in reality.
anyway still in favour of breakout & more down , if wants up again price will find ways any time .waitng ....
fontu
dreams do come true.
  • #273,666
  • Jul 21, 2010 9:37am Jul 21, 2010 9:37am
http://cdn.forexfactory.com/images/attach/gif.gif

2010-07-21 _ zigzagtracktracer (15h53 CET) GBP-USD 030min _ 000.GIF (34.6 KB)

This is a chart view - how we have applied the Cable situation...


bis denne - a bientôt - tot siens
mercy


P.S.:

NY open - so things might change soon - Wall Street seems to have some "Angst in the pants" at first - but later it could bounce a bit ...

lets see
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-07-21 _ zigzagtracktracer (15h53 CET) GBP-USD 030min _ 000.GIF Size: 35 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #273,667
  • Jul 21, 2010 9:50am Jul 21, 2010 9:50am
Starting to look like 2780 may be a reach. Tested 2800 level twice and rejected twice. Looking like 2800 may be a bottom. Keep in mind, this is a counter trade. We may see some correction before going farther. On the other hand look at how the 89 SMA is holding as resistance on the 1 hr.

Jim
Attached Image (click to enlarge)
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  • #273,668
  • Jul 21, 2010 9:51am Jul 21, 2010 9:51am
Price must no be expected to move soon as GFT lowered EU down to 1 pip. Usually when that happen, theirs low liquidity in the market.
  • #273,669
  • Jul 21, 2010 10:01am Jul 21, 2010 10:01am
If it goes down to 2800 and hits support I will be looking to long this back to the DTL shown in chart. Perhaps 2850-2860 area.
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  • #273,670
  • Jul 21, 2010 10:03am Jul 21, 2010 10:03am
we are back inside the bear flag. i am long now so i can't say i am bear biased. it seems the bears tried to break 90 but couldn't so we are back in the flag accumulating. i am letting the long roll up to at least 40 if we bounce at 35 (small bull footprint) i will increase my sl which is very tight right now, to below 90. if we bounce 40 to 50 i will load shorts again.

final look before posting i see a whole lot of down wicks... could be bull accumulation. let's see how this unfolds. will load more long if next run down to 90 is made with very small volumes (indicating no supply).
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dreams do come true.
  • #273,671
  • Jul 21, 2010 10:08am Jul 21, 2010 10:08am
Just got back from my break and now seeing some nice setups for anyone who wants to trade. Here's how this is showing on my charts. The market is consolidating at a sliding parallel median line. Normally, this is not a good sign for a retrace back to ML. Therefore, more downside move to come with ML target at 1.2738 and intermediate support at 1.2774
  • #273,672
  • Jul 21, 2010 10:14am Jul 21, 2010 10:14am
I have my longs running, playing an bullish engulf bar on H1
  • #273,673
  • Jul 21, 2010 10:25am Jul 21, 2010 10:25am
this doesn't qualify as a bear flag!
dreams do come true.
  • #273,674
  • Jul 21, 2010 10:26am Jul 21, 2010 10:26am
bear for few pips to go 2780 perhaps , some buys but not holding .
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #273,675
  • Jul 21, 2010 10:28am Jul 21, 2010 10:28am
pending longs at 2780 level.
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  • #273,676
  • Jul 21, 2010 10:31am Jul 21, 2010 10:31am
Nice channel u have drawn. I am going to put a long order there too.
  • #273,677
  • Jul 21, 2010 10:33am Jul 21, 2010 10:33am
Once we get by support, that is important on this push, because volume should be dropping off as afternoon looms. If this happens we will see this Bearish flag continue to the DTL in the last post, and we pick the short back up this evening.

Jim


Quoting Atlast
Just got back from my break and now seeing some nice setups for anyone who wants to trade. Here's how this is showing on my charts. The market is consolidating at a sliding parallel median line. Normally, this is not a good sign for a retrace back to ML. Therefore, more downside move to come with ML target at 1.2738 and intermediate support at 1.2774
  • #273,678
  • Jul 21, 2010 10:48am Jul 21, 2010 10:48am
when the pros talk i listen.

scalping long till the top of the flag then loading shorts. probably still for a scalp down. after that only shorts at the top of the flag.

hapipipin
dreams do come true.
  • #273,679
  • Jul 21, 2010 10:50am Jul 21, 2010 10:50am
Quoting Nene
Once we get by support, that is important on this push, because volume should be dropping off as afternoon looms. If this happens we will see this Bearish flag continue to the DTL in the last post, and we pick the short back up this evening.

Jim
Just realised my error on the ML target, this is 1.2674, with the previous target a sliding parallel.
  • #273,680
  • Jul 21, 2010 10:52am Jul 21, 2010 10:52am
Quoting darimik
pending longs at 2780 level.
Attachment
nice! I also closed my shorts and put some other sell stop in case the trendlien is broken...
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