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  • #286,801
  • Aug 27, 2010 11:03am Aug 27, 2010 11:03am
i think we hit the top of the previous trendline now (in green), and we're at the 4H pivot resistance level. Maybe time for it to go down now...any thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.png Size: 109 KB
  • #286,802
  • Aug 27, 2010 11:06am Aug 27, 2010 11:06am
Quoting ClasH
We need to jump down below 1.2730 first, then hopefully we are well on our way
Why?? We just need a break 1,2780 zone and we get faster 1,2820, no doubt
"Por mais fundo que seja o buraco, pelo menos esse não tem terra em cima"
  • #286,803
  • Aug 27, 2010 11:11am Aug 27, 2010 11:11am
I have sold EU at 1.2775. SL @ 1.2805.
In forex, one currency is always up!
  • #286,804
  • Aug 27, 2010 11:13am Aug 27, 2010 11:13am
Quoting kidspips
I have sold EU at 1.2775. SL @ 1.2805.
Careful, if we break 1,2780 zone we gonna get 1,2820 (next major resistance)
"Por mais fundo que seja o buraco, pelo menos esse não tem terra em cima"
  • #286,805
  • Aug 27, 2010 11:22am Aug 27, 2010 11:22am
Quoting Atlast
I think we will see a big move today, up to 1.2775 at least, currently long.
of course the market took me out long before it reached that target.
  • #286,806
  • Aug 27, 2010 11:23am Aug 27, 2010 11:23am
fwiw....my stuff has us right at the 1st resis area 2773 +/-...

if....we continue higher from here...the next resis area is 2835 +/-...
  • #286,807
  • Aug 27, 2010 11:26am Aug 27, 2010 11:26am
Quoting TripeiroFX
Why?? We just need a break 1,2780 zone and we get faster 1,2820, no doubt
Draw trendlines on the 30M chart on the highs and the lows and you will understand what I mean with reaching below 1.2730 to bounce back.
  • #286,808
  • Aug 27, 2010 11:30am Aug 27, 2010 11:30am
One pending long activated at last at 2680 close at top & shorted again for 2749/33 perhaps or low if works.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #286,809
  • Aug 27, 2010 11:31am Aug 27, 2010 11:31am
Quoting ak4x
Good on the profit part...

No worries, it was the other two that were sounding pretty confused earlier, and then your comment about logic sort of made me wonder where the "logic" in the market part was coming from, especially on a news day.

I just quoted yours as it was the most recent one that got my attention. Like I said... no worries.

And if you can succesfully hedge...
I hope you went short from the 1.2780, for around 40 pips profit soon...and then long long long to 1.2820-25 ^^
  • #286,810
  • Aug 27, 2010 11:31am Aug 27, 2010 11:31am
told you that puppy is coming back !
  • #286,811
  • Aug 27, 2010 11:34am Aug 27, 2010 11:34am
Quoting DrLobo
told you that puppy is coming back !
Lobo hopefully if everything goes as planned you should make at least 10-15 pips profit
  • #286,812
  • Aug 27, 2010 11:38am Aug 27, 2010 11:38am
Market will probably close where it started, setting up a nice strong move for next week.
  • #286,813
  • Aug 27, 2010 11:39am Aug 27, 2010 11:39am
Was busy trying to crop my screenshots and also removing some lines from my chart.

Shorted at 1.27655, SL locked-in at 62 (BE +3.5) since this is a short-term counter-trend trade.

TP yet to input, although 1.2748, 1.2728, 1.2716 are potential targets. Will probably observe PA first (feeling slightly greedy )

Reason for trade:

1) 1.2762/4 has been some line to me (yesterday's high) on Daily timeframe.

2) Some upper long wicks seen on 15 mins timeframe.

Chances of being stopped out is high but since SL already locked-in profit, this is a free trade

Room for improvement:

1) Probably need to identify more realistic TP targets and manage Greed.

Would definitely if the more experienced traders in here could advise on the above.

Thanks in advance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart_EUR_USD_15 Mins_snapshot.jpg Size: 173 KB
Click to Enlarge Name: Chart_EUR_USD_Daily_snapshot.jpg Size: 161 KB
  • #286,814
  • Aug 27, 2010 11:44am Aug 27, 2010 11:44am
If there is no retraction at R1, then there is no point me having that on my chart.

Hey are there any good stats out there which shows in percentages the retractment from these Pivot support and resistance levels ?
For example I am looking for data that will say something like 80% of time when price hits R1 it retracts 60% . That would be pretty useful.

Is there anything like this ?
  • #286,815
  • Aug 27, 2010 11:45am Aug 27, 2010 11:45am
Quoting Xismal
Was busy trying to crop my screenshots and also removing some lines from my chart.

Shorted at 1.27655, SL locked-in at 62 (BE +3.5) since this is a short-term counter-trend trade.

TP yet to input, although 1.2748, 1.2728, 1.2716 are potential targets. Will probably observe PA first (feeling slightly greedy )

Reason for trade:

1) 1.2762/4 has been some line to me (yesterday's high) on Daily timeframe.

2) Some upper long wicks seen on 15 mins timeframe.

Chances of being stopped out is high but since SL already locked-in profit, this...
I would set take profit at 1.2730, wait the market out (it will probably go lower than 1.2725, but not worth risking it) And then starting going long.

I have a target of 1.2721 for going long (hopefully result in a 100 pip move early next week)
  • #286,816
  • Aug 27, 2010 11:47am Aug 27, 2010 11:47am
NP.

Yes I do agree, the door wide open to the 1.2280x - 1.283x range but I am more inclined to the lower side of that range. Let see if Trichet can move the markets

sisse


Quoting ClasH
My bad I was talking about next week, looking at TA we should see a swing towards 2825, but looking at fundamentals the EURUSD should drop....

Thats what I was talking about...sorry I did not get my point across properly
Pending conversations? PM for a chat...I am mainly in OTM now
  • #286,817
  • Aug 27, 2010 11:57am Aug 27, 2010 11:57am
Quoting ClasH
Draw trendlines on the 30M chart on the highs and the lows and you will understand what I mean with reaching below 1.2730 to bounce back.
Here is my Chart in M30, and as you can see we are in UPtrend in Intraday and the Current TLDW as broken. A close day above 1,2730/35 put us in a UPTREND in Medium/Long Term, This is my oppinion, obvious i could be wrong
Attached Image (click to enlarge)
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"Por mais fundo que seja o buraco, pelo menos esse não tem terra em cima"
  • #286,818
  • Aug 27, 2010 11:58am Aug 27, 2010 11:58am
error ? 25 pip hedge as seat belt. EU droping, div showed on EJ.
I'm already +450 today (more than wanted on oil +200).
I can afford even for loss
Come on Trichet...push it down
Attached Image (click to enlarge)
Click to Enlarge Name: EJ.PNG Size: 46 KB
  • #286,819
  • Aug 27, 2010 12:00pm Aug 27, 2010 12:00pm
Sweet...hit my pending short while I was doing the honey-do list. Just swiped half to play it safe and remainder at BE+. Believe it or not this is *still* on the bear path.....but it's getting close to not being so and I'm taking no chances.........2778 was on my chart before today, and it's a number I'll be watching......
  • #286,820
  • Aug 27, 2010 12:04pm Aug 27, 2010 12:04pm
Quoting ClasH
I would set take profit at 1.2730, wait the market out (it will probably go lower than 1.2725, but not worth risking it) And then starting going long.

I have a target of 1.2721 for going long (hopefully result in a 100 pip move early next week)

Thanks for the advice. I set a TP at 1.2712. Seems a bit ambitious but my reasons for doing so:

1) 4HR timeframe, the middle bollinger band has acted as support for the past few bars.

2) I have a daily pivot around that level 1.2710/12.

3) Potential weekend squaring-off of LONG positions.

Would definitely take your advice and observe PA around 1.2748/50 as well as 1.2730 as those were breakout levels.

Currently Trichet is speaking and liquidity in the market has spiked to 17%>average according to FF's feature (the whole day it has been <average).

Fun + excitement, oh well... luckily I locked-in my SL.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_USD_4 Hours_snapshot.jpg Size: 191 KB
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