Price is everything

I know that feeling, and love it!

Thanks to our excellent experts for keeping us alive to fight another week

yes



eddie

understand the way you trade, not me, before you take it to the market


many here who will help you develop a trading plan, style to suit you

Gebuz Fcuk...

Whutta weeek...

Some damn nice ranges, but if you were hitting the fast charts, you probably feel a lot like me...

Like I just gave Birth...

I'm Fcuking Exhausted, got the jitters like Alcholic DTs...

Think I am done for the week...good luck into close.

niiiize... now is time to relax..

btw, if you had twins please consider naming one of them after me..

Yeah Magix, I've been on the 30m chart for the most part this week. Rangy silliness. Easy trading though... buy bottoms, sell tops.

Maybe one last lookie before the day closes...

EJ5m

keep well all

You have a great weekend as well .

4hr looks like a flag back to the demand area.

A break below 82.56 should push it down to the next demand area .

Looking at daily its at the previous res turned support zone now.A bounce here we test the 84/85 area and break of that weekly res should be the next target around 88.xx

4hr has been capped between levels.

Price at weekly supply level and on top of daily channel..

Its forming a cluster here and should resolve soon.

If 1.4350 imp supp on 4hr is taken out then next will be the daily support and the LTL of the channel around 1.4250.That should be a good area to look for longs.

Break of the upper channel and the supply level should open doors to north.

Its still in a cluster and 1.4537 area is defending it strongly.

Break this support i will look at daily demand area at 1.44 for longs.

4hr demand zone holding so far.As long as 119.16 is holding longs need not worry.

Looking at the daily zone,if this support is taken out ,looks like no stopping till next res turned sup zone around 115/116. Will look at this area for longs if it gets there.

It's what i see happening, but then again i didnt see the massive drop coming, using pitchforks to guide me through the channels right now S/D isnt enough for this pair right now

I hope we are both right Orb that EJ is going to u turn because I am already into this.
Hourly demand was taken by 2 hourly bars and it reversed down again.

IMO it bounced of the 78.6% retracement which is also demand, so im looking for longs.

The problem with current PA and price structure is that each trade you enter is already at a significant risk level if youre a scalper like i am. You either risk waiting for the absolute low, in which case the trade sitll might run a tad bit lower like 7-8 pips before it resumes, or you enter it later and risk even further drawdown.

Im not saying demand and supply is perfect and you are going to see textbook examples all the time.

But seeing how demand is being penetrated deeply before a reversal, or even spiked through is just plain bullshit to me. Obviously you can still take a bunch of trades but its frustrating to determine direction.

EURUSD is a nice example, daily still looks like a bullflag, but it might drop 200 pips , it might crash up 300 , i cant really tell, and this is whats frustrating to me.

Personally i can only say i favour longs and ill keep favouring them by a mile until greece actually defaults.

EDIT:

As long as i dont see NOK changing a trend i dont feel like shorting anything against the dollar.

I took this 190 pip ride on NOK but i was right from the get go, even before i entered the trade i said were going to revisit the hourly... it broke.. so im looking at the weekly frame.

You know.. a lot of traders will have to make really tough calls, for some the calls will be easier than for others.

To me seeing certain trades right now are easy but im struggeling on EU GU and other stuff. The HARDEST thing you are forced to do at times is longing in a down trend and vice versa, my trading buddy who does CFD's said over the phone today when discussing strategy for next week:

"Listen alex I have confidence in your abilities but EURUSD and EJ are looking like they are in an awful downtrend right now, im looking at 42xx before a reversal up again"

And he may be right, im not in any position right now willing to short the euro, and thats not because Red said its a buy only market, yeah i can short it for scalping but im not taking the downswings, which is a mistake maybe... Ill remain with my Bullish stance, i just dont see that downmove happening. Will reasses charts later on, its time for cake, tea and vodka in the city. Will be back later or tommorow

Hey Orbs...

I spend a gawd awful amount of time on my weekends srudying the charts and what they have to say...From last weeekends thoughts, I mentioned that I was looking to buy loons and be bullish to the Yen, and as it turns out, even with the crazy fawking PA this week, I made out like a bandit under those ideas...

Looking at a couple of things here...

Start off with EURJPY... Still under the idea of to far to fast, I had a better look at the daily and came up with a couple of ideas for a back fill on range. The points I have listed under 1.'s and 2.'s are the reasoning behind my logic.

EURUSD... Well, This bitch is crazy...I posted a chart a couple weeks back in the EURUSD thread and though I have revised it somewhat, it still holds its same integrtiy...I looked @ the 1.42 range you mentioned to see where that would land on the longer charts, and what seems to make sense is that a 4 Hour rerace to support would put us into that zone...No secret to my trading, I am EMA all the way, for the simple reason that it makes my target zones and S/R ranges a lot more clear. Having a look @ the H1 chart first, it is easy to see that the rallies off H1 support are dwindling, so with a drop here, an expectation of support on the H4, is not unreasonable...

Chart 1. EJ retrace range.
Chart 2. EU hourly
Chart 3. EU @ 42....H4

if indeed we have a cap above and support below, this will provide a tradable range, buys only for me lower, this price structure has the makings of a shake out before a breakout or breakdown


before any untrend can change bearish - prices have to clear demand zones therefore buying is preferred @ demand rather than trying to sell

Yuro
I see that the pennant had been broken south. The down move is confirmed but I will be building my long positions at 4300-4340 region if the PA agrees.
This area will be one tough nut.
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