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  • #427,761
  • Apr 25, 2011 9:40am Apr 25, 2011 9:40am
Quoting Larseg
there we go 74.10 taken out, plopp...

out 38+, and its only 00:40 sydney time...
  • #427,762
  • Apr 25, 2011 9:44am Apr 25, 2011 9:44am
Quoting Venice
Yep... although Friday's daily is making is hard to judge this PA.

On one hand it looks like we need a small retrace, even if just to shake out some of the shorts and let longs load up even more. On the other, Volume wasn't here on Friday, although the current ceiling appears to be holding.

Will know more tonight. It would be nice if it could give us a direction here...

Even on the event of a retrace happening, I don't have much to the bottom side... 4500 is going to be a tough cookie... I had a target around S2. Not sure what that is right...
Deep inside I am still bull until 1.4300 if reached... However, with a steady PA increase like today the more positions are placed bull and with SP500 futures slightly in positive I just had to put on some shorts and wait for the "disappointment" when the US opening was realized...
  • #427,763
  • Apr 25, 2011 9:51am Apr 25, 2011 9:51am
Quoting Larseg
Deep inside I am still bull until 1.4300 if reached... However, with a steady PA increase like today the more positions are placed bull and with SP500 futures slightly in positive I just had to put on some shorts and wait for the "disappointment" when the US opening was realized...
That's funny, I have that same number that switches my bias.
  • #427,764
  • Apr 25, 2011 9:55am Apr 25, 2011 9:55am
here where the fundamentals are playing a role in the market
its been rangin since friday.

the true Finn and the danger of restructuring from Greece is halting the bullish eur/usd advance while the expected more of the same, weak dollar policy from the Fed is expected wednesday.

so the market is not sure where to go.
AVT INVENIAM VIAM AVT FACIAM
  • #427,765
  • Apr 25, 2011 10:06am Apr 25, 2011 10:06am
I got 4550 as asia open.
Can see us a least touching that.
A break and there is the low 4525, todays low.

The chart view certainly looks like a retrace is in order before a rise to 3750 area.
But we just had the 100% retrace back up to 14500.from 1.4160 I thought we would spend longer in that range .
Maybe we see 1.4750 sooner than i thought then 14500 as the bottom area.
making green pips large and red pips small this is my goal.
  • #427,766
  • Edited 10:15am Apr 25, 2011 10:10am | Edited 10:15am
I must say I really love range-bound trading on holidays - happy Easter to all of you, and take care, could see more heavy movement due to low liquidity .

The only thing those days can't tell you is how and if the trend will continue, so I would not expect to get anywhere today - the net gross is zero. maybe we can break some important levels, this might be a hint.

Below is a scan for reversal zones since '99 (strength rising from green over yellow to red). The manually set red line seems to be an important level for short term, the big red thingy is important support for longer term trend. Seems safe for use (at least today).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 25 KB
  • #427,767
  • Apr 25, 2011 10:26am Apr 25, 2011 10:26am
Still playing the fake and break scenario.

Watching the blue line for the break part
Attached Image (click to enlarge)
Click to Enlarge Name: 25042011h1gif.gif Size: 14 KB
  • #427,768
  • Apr 25, 2011 10:30am Apr 25, 2011 10:30am
Quoting MitchWorse
Still playing the fake and break scenario.

Watching the blue line for the break part
Nice descending triangle... didn't even see this. Should provide some fun if we breakout to the bottom side.
  • #427,769
  • Apr 25, 2011 10:37am Apr 25, 2011 10:37am
Quoting MitchWorse
Still playing the fake and break scenario.

Watching the blue line for the break part
This is the third time from my count that we did the 100% reversal over couple days as you show on your chart .
Then we continue the trend .

The hard part is were the continuation start from.

So far it stayed above 4530 .
So far this looks more like consolidation /continuation .
Only needs a piece of news or some dude to open his mouth and a retrace could initiate.
A break of 4480 and we could play in last weeks range again.

If not 4500 to 4750 areas are more likely.
making green pips large and red pips small this is my goal.
  • #427,770
  • Apr 25, 2011 10:38am Apr 25, 2011 10:38am
http://i54.tinypic.com/bgppjo.gif
  • #427,771
  • Apr 25, 2011 10:41am Apr 25, 2011 10:41am
Quoting paul1
This is the third time from my count that we did the 100% reversal over couple days as you show on your chart .
Then we continue the trend .

The hard part is were the continuation start from.

So far it stayed above 4530 .
So far this looks more like consolidation /continuation .
Only needs a piece of news or some dude to open his mouth and a retrace could initiate.
A break of 4480 and we could play in last weeks range again.

If not 4500 to 4750 areas are more likely.
Yup. I'm curious why there is so much protection of this level to the south side. Hit multiple times now without a budge. There should be some pretty yummy stops building below it... but of course we actually need to pierce lower to hit them.
  • #427,772
  • Apr 25, 2011 10:44am Apr 25, 2011 10:44am
Wow... Close shave today. Missed my SL by 1.8pips before reversing in my direction and hit my tp with 0.1pip to spare. Phew. Done for the day. Am happy with my 60 pips. Good luck to all.

Quoting Anskiere
Can't resist a short at 1.46 sl 1.463 tp 1.454. I have 1.4608 as a resistance. Let's see how this play out.
  • #427,773
  • Apr 25, 2011 10:45am Apr 25, 2011 10:45am
l 1.4550 stop 10 pips
  • #427,774
  • Apr 25, 2011 10:48am Apr 25, 2011 10:48am
Does seem odd - perhaps no conviction to push harder south on low volume days... I would be banking long profits before helicopter speaks, just in case...
  • #427,775
  • Apr 25, 2011 10:50am Apr 25, 2011 10:50am
hi all

nice range to play with
Attached Image (click to enlarge)
Click to Enlarge Name: 15m eur.gif Size: 36 KB
  • #427,776
  • Apr 25, 2011 10:55am Apr 25, 2011 10:55am
Quoting MitchWorse
Still playing the fake and break scenario.

Watching the blue line for the break part
Its more like an expanding triangle to me as the market cann't deside which way to go, so we should trade the boundries with a titbit SL.
Attached Image
  • #427,777
  • Apr 25, 2011 10:59am Apr 25, 2011 10:59am
Quoting Pipwanderer
l 1.4550 stop 10 pips
moving stop to breakeven swing will add small lots along the way..will be looking at price action.

btw m15
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 15.gif Size: 26 KB
  • #427,778
  • Apr 25, 2011 11:00am Apr 25, 2011 11:00am
Quoting MitchWorse
Still playing the fake and break scenario.

Watching the blue line for the break part
the patterns are life forms, yuo have to follow and pay close attention as they morph as Price Action goes. Descending triangle can very easy be a falling wedge.. 2 very opposite formations. If you draw your Lower Trend line you'll see that that pattern connecting 3 lows gives you a falling wedge, or bull flag.. Very Bullish scenario..
  • #427,779
  • Apr 25, 2011 11:00am Apr 25, 2011 11:00am
Quoting kill56
hi all

nice range to play with
Hi Kill , What kind of EA you have that on your chart? Is it good?
bomi
  • #427,780
  • Apr 25, 2011 11:03am Apr 25, 2011 11:03am
Quoting kill56
hi all

nice range to play with

today is perfect for it too
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