all that buying did was take us into 1.3640 ,,then we saw sellers .... it is strength though
I think they are bag holding .... maybe move price all way to 1.3480 even , lets see how next 24 hours plays out
but its just my guess
- #12,061
- Feb 10, 2011 11:43pm Feb 10, 2011 11:43pm
but its just my guess
- #12,062
- Feb 10, 2011 11:57pm Feb 10, 2011 11:57pm
- | Joined Jan 2009 | Status: Fading the specs | 1,374 Posts
- #12,065
- Feb 11, 2011 12:35am Feb 11, 2011 12:35am
- | Membership Revoked | Joined May 2008 | 3,395 Posts
The Market pays you to be disciplined
- #12,066
- Feb 11, 2011 12:46am Feb 11, 2011 12:46am
we saw ton buying eu 1.3600 area
Look where all the down move happened .. asia .. HOW nice ..lol..under NO volume .. mark down ?
I am expecting a move down into the 1.3540 area this asia. IF we see hits being bought in london it is a great long for 1.3750 area
Forget about POC watch this level, NOW..
- #12,068
- Feb 11, 2011 2:34am Feb 11, 2011 2:34am
- | Joined Oct 2010 | Status: Trader | 1,539 Posts
Hi Everyone back form Chinese New Year Holiday hows the market recently hope everyone did well
but hope everyone is doing well too
- #12,070
- Feb 11, 2011 3:01am Feb 11, 2011 3:01am
OK where are we with EU?
It seem from here EU's weakness on unexpected fail test of NS after yesterday rally have weaken it down to test on X. The expect test on W was early.
U is now a potential prelim supply point where EU may test for further weakness. Furthermore a downward channel could be drawn now to at least ascertain the next scenario for this pair. Next could be a test back up on U for a sell down to TP on level Z which confluence with the lower channel.
4hr chart;
Attachment
Daily Chart showing where Z is derived & the...
Yep, getting there...now on support Y. Next would be a break & test on this, we could see TP then. recovery back to X maybe? err...Mr. Mubarak are u gona to? ok ok maybe not.
- #12,072
- Feb 11, 2011 3:17am Feb 11, 2011 3:17am
Loonie looks like stuck in time & motion ( I though my feed is bad.). sitting nicely on K, in a still life..
Attachment
- #12,074
- Feb 11, 2011 3:35am Feb 11, 2011 3:35am
- | Membership Revoked | Joined Sep 2010 | 2,072 Posts
- #12,075
- Feb 11, 2011 3:39am Feb 11, 2011 3:39am
- | Membership Revoked | Joined Sep 2010 | 2,072 Posts
- #12,077
- Feb 11, 2011 3:53am Feb 11, 2011 3:53am
- Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts
I allowed my judgement to get clouded earlier during the late NY session with that doji wick candle and what looked like fairly clear buying volume, walked away and found myself in negative pips.
That type of a M15/M5 failure combined with the volume trick, is often a sign that we're in or getting into a downward directional trend where candle prints become irrelevant. A couple of NDs on M15 and I was lucky enough to get out with -15 later.
Asia has been clear sells, with channel play. As frankie and london opened, I am seeing a clear and notable lack of any buying as we head straight down. No signs of stopping volume, even at key/former support areas 1.357, 1.355 as well as to-the-pip rejection of the day's (Asia) open and a to-the-pip rejection of yesterday's low. I can't emphasize the lack of and disappearance of buyers I am seeing/feeling. Looks, acts like distribution.
1.35 is as good as here IMO. Will need to look for buyers then, but sentiment has turned extremely negative, and the NY Friday is lining up to be a Mubarak/Egypt risk-off day. (Funny the world these dictators live in - his speech is so telling and Tyrant 101 based)
With the USD strength and USDX looking to head up, I'm going to guess at a 200 pip ATR euro day, getting us to 1.343/1.34 - the daily print looks like it's ready to take us there. And, it's Friday. Sell all rallies IMO, incl. the expected bounce to 1.355 now resistance. Buyer beware.
That type of a M15/M5 failure combined with the volume trick, is often a sign that we're in or getting into a downward directional trend where candle prints become irrelevant. A couple of NDs on M15 and I was lucky enough to get out with -15 later.
Asia has been clear sells, with channel play. As frankie and london opened, I am seeing a clear and notable lack of any buying as we head straight down. No signs of stopping volume, even at key/former support areas 1.357, 1.355 as well as to-the-pip rejection of the day's (Asia) open and a to-the-pip rejection of yesterday's low. I can't emphasize the lack of and disappearance of buyers I am seeing/feeling. Looks, acts like distribution.
1.35 is as good as here IMO. Will need to look for buyers then, but sentiment has turned extremely negative, and the NY Friday is lining up to be a Mubarak/Egypt risk-off day. (Funny the world these dictators live in - his speech is so telling and Tyrant 101 based)
With the USD strength and USDX looking to head up, I'm going to guess at a 200 pip ATR euro day, getting us to 1.343/1.34 - the daily print looks like it's ready to take us there. And, it's Friday. Sell all rallies IMO, incl. the expected bounce to 1.355 now resistance. Buyer beware.
- #12,079
- Feb 11, 2011 4:11am Feb 11, 2011 4:11am
- Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts