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  • #337,401
  • Dec 2, 2010 4:10am Dec 2, 2010 4:10am
H4 longing to 1st level @3282, then breaking maybe to standard fib 50% @3378. Because of higher lvl downtrend expect sharp corrections till fib .50.

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  • #337,402
  • Dec 2, 2010 4:11am Dec 2, 2010 4:11am
Quoting newnew
I am Long from 1.3050 I will get new long on 1.3084 frist TP 1.3140 second 1.3200 I am waiting 1.3200
I am out on 1.3195 +154 pips
  • #337,403
  • Dec 2, 2010 4:12am Dec 2, 2010 4:12am
Quoting hindustani
well anybody still shorting eu is looking for trouble.

there may be a few pips for a scalper but the daily chart trend is now turning bullish.
I think you are "jumping the gun" in your analysis. Probably you don't trade the daily timeframe becasue "daily chart trend is now turning bullish" is a "little" bit premature after +1200 pips down and 1 single bull bar that not even reject a low or a swing low.

Of course, if your argument comes from the fundamental side its a different story ... but you will need to support that with real arguments.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #337,404
  • Dec 2, 2010 4:14am Dec 2, 2010 4:14am
Quoting Z3iz3i
Pretty well formed

Yea, 4hr starts to trend upside which i am playing as well keeping in mind that technically we are in downtrend looking at daily.
if it played out textbook-like, we'd be at 1.347x, exactly where we'd need to be to test this downtrend.

things come together nicely, i think, trichet might speed things up.
  • #337,405
  • Dec 2, 2010 4:15am Dec 2, 2010 4:15am
Quoting vlady1974
How did you calc that? Oh I see. My data feed has 3197 has the high of previous 1H. Gotcha. I've seen a strategy like that where if the previous candle was a big mama and the next candle opens at 75% or higher of its size, then the retest of the prev candle high is likely. Didn't think that was possible in FX as there are "no gaps" really.... just poor retail data feeds. :-)

Actually it was a breakout bar from a couple of days ago. I saw that as an important breakout, making the close of that bar important.
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Look Sharp/Trade Tight
  • #337,406
  • Dec 2, 2010 4:16am Dec 2, 2010 4:16am
Quoting Mr Hatch
if it played out textbook-like, we'd be at 1.427x, exactly where we'd need to be to test this downtrend.

things come together nicely, i think, trichet might speed things up.
thats quite a beast there hatch...
Look Sharp/Trade Tight
  • #337,407
  • Dec 2, 2010 4:18am Dec 2, 2010 4:18am
Quoting PayTheLimit
thats quite a beast there hatch...
lol, that was a typo. 347x sorry.
  • #337,408
  • Dec 2, 2010 4:20am Dec 2, 2010 4:20am
Quoting PayTheLimit
Actually it was a breakout bar from a couple of days ago. I saw that as an important breakout, making the close of that bar important.
Brilliant. Thanks for that. I'm only now starting to really use higher timeframes to set potential Support-Becomes-Resistence (vice versa) targets. I'll add this to my notes! :-)
A pip is only worth it if you know how much you risked to earn it
  • #337,409
  • Dec 2, 2010 4:21am Dec 2, 2010 4:21am
cam´on 1,32
  • #337,410
  • Dec 2, 2010 4:25am Dec 2, 2010 4:25am
Quoting cdsap
cam´on 1,32
Patience we are going to 1.3221
  • #337,411
  • Dec 2, 2010 4:26am Dec 2, 2010 4:26am
Not that bad or as expensive as expected Spain 3-year bonds sell should be already digested on the charts as the 10-year Spanish spread went already down to "normal" levels.

Last hour of trading and last try for a new mini break high intraday before the key ECB conference. Very tight stops until then and 0 chances of opening any positions.

Good luck to all holding trades.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #337,412
  • Dec 2, 2010 4:27am Dec 2, 2010 4:27am
Quoting Abu-Rami
Patience we are going to 1.3221
and what happens then?
  • #337,413
  • Dec 2, 2010 4:29am Dec 2, 2010 4:29am
Quoting Guitarfx
and what happens then?
keeping eye on 1.3236 if it break to enter the 2nd long position
  • #337,414
  • Dec 2, 2010 4:29am Dec 2, 2010 4:29am
Quoting vlady1974
Brilliant. Thanks for that. I'm only now starting to really use higher timeframes to set potential Support-Becomes-Resistence (vice versa) targets. I'll add this to my notes! :-)
Here is another example. Market breaks out of the range hard, then enters a new one. Once we close above the close of the breakdown the buyers come in. Its not 100% fullproof and I dont base my trades off of it exclusively, but it is something I keep an eye out for.
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Look Sharp/Trade Tight
  • #337,415
  • Dec 2, 2010 4:31am Dec 2, 2010 4:31am
Quoting Mr Hatch
if it played out textbook-like, we'd be at 1.347x, exactly where we'd need to be to test this downtrend.

things come together nicely, i think, trichet might speed things up.
Trichet is an idiot. The best he'll manage today is to delay the inevitable. The EU might get a short term euphoric boost (which we could profit from), but 'sticking plaster' remedies won't last.....imo
Doing what you like is Freedom. Liking what you do is Happiness.
  • #337,416
  • Dec 2, 2010 4:32am Dec 2, 2010 4:32am
As i post before, i'm going to shear the system i'm applying and how i trade.
you can check the following link in Youtube, that show this system step by step

My system

How i Trade

Please note that is an old files, also for Cable, but i have testing the system for the last three months.. and it's doing well with EURUSD.

Enjoy...
  • #337,417
  • Dec 2, 2010 4:33am Dec 2, 2010 4:33am
Quoting Abu-Rami
Patience we are going to 1.3221
  • #337,418
  • Dec 2, 2010 4:34am Dec 2, 2010 4:34am
Quoting realjumper
Trichet is an idiot. The best he'll manage today is to delay the inevitable. The EU might get a short term euphoric boost (which we could profit from), but 'sticking plaster' remedies won't last.....imo
that is exactly what i am expecting to happen

and if this is working out like i think it will, we can safely enjoy the downtrend.
  • #337,419
  • Dec 2, 2010 4:34am Dec 2, 2010 4:34am
Quoting Mr Hatch
lol, that was a typo. 347x sorry.
38% retrace, possible. If it gets there today it may not be a "retrace". That would look like a hell of a conformation candle. Friday ""maybe""

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  • #337,420
  • Dec 2, 2010 4:35am Dec 2, 2010 4:35am
okay, gonna try something.

since 13200 was just breached and I have a fib50 target of 13226 which is about +20pips-ish. May look to scalp a long into the resistance. One position only.

LONG @ 1.3206 target 1.3226
A pip is only worth it if you know how much you risked to earn it
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