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  • #341,041
  • Dec 7, 2010 9:50am Dec 7, 2010 9:50am
Quoting Mr Hatch
i don't know what caused this move, but i cannot be bound to the irish decision being published right now, can it?

It made sense I see what happened I should have waited to buy the dip. So no I did with a b/e sl

setting tp to 3390 and a limit short order just above it
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 29 KB
Know when to hold em, Know when to fold em!
  • #341,042
  • Dec 7, 2010 9:50am Dec 7, 2010 9:50am
Quoting goods
I expect it go up for a retest of 3400 before a for sure move down
http://greygooseforex.files.wordpres...ithwor27a4.png
  • #341,043
  • Dec 7, 2010 9:51am Dec 7, 2010 9:51am
The bulls will try but there's too much noise right now in the EU. Most larger players will be selling retraces. Who's getting restructured next? Can they hold off until next year? Nope. Germany's patience is wearing thin.
  • #341,044
  • Dec 7, 2010 9:51am Dec 7, 2010 9:51am
Quoting Mr Hatch
i don't know what caused this move, but i cannot be bound to the irish decision being published right now, can it?
I don't think so. It looks like pure TA moves (or noise) is just overshoot the range, bull trap....overshoot shoot range, bear trap.... rinse and repeat the last 16 intraday moves. Those who manage to take extremes are doing well, the rest ....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #341,045
  • Dec 7, 2010 9:51am Dec 7, 2010 9:51am
Quoting Mr Hatch
i don't know what caused this move, but i cannot be bound to the irish decision being published right now, can it?
I don't really know neither. It was a pretty fast move, as if someone was unloading positions...because there is no follow through of that big 5mn candle.
weak long squeeze ?
COT: The precious data ignored
  • #341,046
  • Dec 7, 2010 9:52am Dec 7, 2010 9:52am
Quoting mysterio
This served as good early warning that A/U & E/U were going to break down
Thank You
  • #341,047
  • Dec 7, 2010 9:52am Dec 7, 2010 9:52am
Quoting wormboy
2.

some here dont need charts as they dont know how to use them anyway
  • #341,048
  • Dec 7, 2010 9:54am Dec 7, 2010 9:54am
Quoting kuroro001
I don't really know neither. It was a pretty fast move, as if someone was unloading positions...because there is no follow through of that big 5mn candle.
weak long squeeze ?
divergence bro
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 59 KB
Thank You
  • #341,049
  • Dec 7, 2010 9:54am Dec 7, 2010 9:54am
Quoting sisse
All the levels today and yesterday are just almost hit but they are not reach. I see that 3300 too and also the 1,342x. I have the feeling that this time will be the same. If the intrday range is to continue is longs from 1.333x to 1.342x ... I am not taking this one 'cause is intraday and I closed that order book for today.

We'll see
sisse
time will tell.. 100 pip draw downs from 3400 are tough.. we got a few ma's like the one that stopped us atm.. but ill bet my left one 3300 is hit before a new high. hell ill bet my left and right one that 3300 is hit before a new low also. .
those who can, do. those who cant, talk about those who can
  • #341,050
  • Dec 7, 2010 9:54am Dec 7, 2010 9:54am
Goods im also tempted to go long at tl but still waiting for 15m close or two
  • #341,051
  • Dec 7, 2010 9:54am Dec 7, 2010 9:54am
Quoting goods
It made sense I see what happened I should have waited to buy the dip. So no I did with a b/e sl

setting tp to 3390 and a limit short order just above it
I think this last down move is just an hourly pullback. Seems to me that 3470 may be reached today. I could be wrong but it is what im seeing at the moment. I think dip buying is the way to go for now.
  • #341,052
  • Dec 7, 2010 9:55am Dec 7, 2010 9:55am
Quoting kuroro001
I don't really know neither. It was a pretty fast move, as if someone was unloading positions...because there is no follow through of that big 5mn candle.
weak long squeeze ?
It was the break of a TL that had been developing all day. It broke, retraced to within a couple of pips, than sank. The break of a descending triangle on USDX gave it extra oomph. Admittedly moves like that happen more often early in the London session rather than late in the afternoon. I've seen breaks happen at this time that just trickle along sideways until the Asian session.
  • #341,053
  • Dec 7, 2010 9:55am Dec 7, 2010 9:55am
forexlive referred to "decent" sell order clustered around 3400-10. this move is not really decent, is it?

@sisse: i was watching fib-levels and tls closely today... they got kind of approached, but not reached. 3414 is 61.8-fib, but we never got there.
you are right, be quick enough to get in at the extremes, otherwise it can get ugly.

took half profit from 3400, moved sl to be and let the rest roam at will.
  • #341,054
  • Dec 7, 2010 9:56am Dec 7, 2010 9:56am
Quoting wormboy
divergence bro

COT: The precious data ignored
  • #341,055
  • Dec 7, 2010 9:56am Dec 7, 2010 9:56am
Still on target 335796
  • #341,056
  • Dec 7, 2010 9:57am Dec 7, 2010 9:57am
Quoting PipChick
I think this last down move is just an hourly pullback. Seems to me that 3470 may be reached today. I could be wrong but it is what im seeing at the moment. I think dip buying is the way to go for now.
I agree that I believe it was just the pullback. its at 50% replacement on fib extension.

Lets see here. Bulls are still very much in force and I am not afraid to admit that even if I am overall bearish.
Know when to hold em, Know when to fold em!
  • #341,057
  • Dec 7, 2010 9:57am Dec 7, 2010 9:57am
Quoting wormboy
divergence bro


i thought you were talking about the m5 chart earlier... lmao.
  • #341,058
  • Dec 7, 2010 9:58am Dec 7, 2010 9:58am
Quoting PipChick
Once below the 61.8, it adds risk to the trade. At that point, it could reverse to shorts. (speaking of this m5 chart) but on the h1 chart,3341 is just a larger tf pullback.
Not sure what to make of this PA nr 3341, shot through, bounced at 3323 and touched 3346. How to decide bull or bear for rest of day ? Maybe go long if 3346 broken to upside, or go short if 3323 broken to downside ? ... i prefer the long now though.
  • #341,059
  • Dec 7, 2010 9:58am Dec 7, 2010 9:58am
Quoting mysterio
It was the break of a TL that had been developing all day. It broke, retraced to within a couple of pips, than sank. The break of a descending triangle on USDX gave it extra oomph. Admittedly moves like that happen more often early in the London session rather than late in the afternoon. I've seen breaks happen at this time that just trickle along sideways until the Asian session.
Thanks for the clear explanation
COT: The precious data ignored
  • #341,060
  • Dec 7, 2010 9:58am Dec 7, 2010 9:58am
I'm hoping she doesn't collapse here. Some bullish action back to .3400 might make for a nice sell opportunity. Let's hope the selling will abate into the fix. That way we can sell into Asia.
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