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The WoRmHoLe

  • #13,521
  • May 29, 2011 5:19pm May 29, 2011 5:19pm
Evening all ...

16430 good for a long scalp (support provided by April 8/11 highs)



careful of low volume bank holiday moves mind
  • #13,522
  • May 30, 2011 2:35am May 30, 2011 2:35am
morning fellas!!!
I don't want a job, i want money!
  • #13,523
  • May 30, 2011 2:47am May 30, 2011 2:47am
Quoting dario1002
morning fellas!!!
morning mate - what you make of EU? ... 14250 good support .... cup and handle forming on D1 ...
  • #13,524
  • May 30, 2011 3:07am May 30, 2011 3:07am
Quoting chazzle
morning mate - what you make of EU? ... 14250 good support .... cup and handle forming on D1 ...
cup and handle???? dude i don't see it.... can u post a chart??

Anyway... here is my general view either on GU and on EU.
What i see is that basically EU was moved by dollar weakness, especially in the last couple of days. If u look at eurx u will see that it doesn't say anything that might let u think about some strenght itself. A support that i have now on DX is 74.80 (currently at 74.93), and if it breaks... we might see another couple of figures on the upside. As for EU itself... i have 4300 as weekly resistence (we are just under it), and once passed that, on a bigger picture i don't really see any other turning point before 48 (45 is for sure another interesting spot, but if u look back the last 4 times that price broke 43 from the downside, it went to 48 (except the weekly spike in 2008 that went to 47, but it never really broke 43).

As for GU, the pair gained some strenght itself, and enjoyed dollar bears, and on the weekly we have a nice reversal formation for long. 67 and even higher is definitely possible now, especially because we bounced right on that LTL formed in the last year (may 2010-may2011). We might as well see 62, but my bias now is turned on the upside, at least till 67.

Of course as usual will wait for the proper setup pull the trigger... but here is what i see
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  • #13,525
  • May 30, 2011 3:19am May 30, 2011 3:19am
Quoting dario1002

Of course as usual will wait for the proper setup pull the trigger... but here is what i see
thanks for your view - prompted me to check out E/G , since you sound bullish GU/bearish EU. EG actually coming up to some tough resistance on H4 - just taken a short @ 8676 with emergency SL 8725

btw - can't post charts atm sorry - cup and handle i was seeing May 20/29 high - then retracing atm to form the handle ....
  • #13,526
  • May 30, 2011 3:26am May 30, 2011 3:26am
Quoting chazzle
thanks for your view - prompted me to check out E/G , since you sound bullish GU/bearish EU. EG actually coming up to some tough resistance on H4 - just taken a short @ 8676 with emergency SL 8725

btw - can't post charts atm sorry - cup and handle i was seeing May 20/29 high - then retracing atm to form the handle ....

my EG chart daily and weekly
Attached Image(s) (click to enlarge)
Click to Enlarge Name: egdailyy30-05.jpg Size: 136 KB
Click to Enlarge Name: egweekly30-05.jpg Size: 140 KB
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  • #13,527
  • May 30, 2011 3:32am May 30, 2011 3:32am
Quoting dario1002
my EG chart daily and weekly
what are those vertical lines on W1 chart? (bottom left)
  • #13,528
  • May 30, 2011 3:34am May 30, 2011 3:34am
Quoting chazzle
what are those vertical lines on W1 chart? (bottom left)
bhuahahah my shit broker

i have that in all pairs..... who knows why
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  • #13,529
  • May 30, 2011 3:42am May 30, 2011 3:42am
Quoting chazzle
what are those vertical lines on W1 chart? (bottom left)
and... if i am not mistaken.. that can't be considered a cup @ handle pattern.. as, in general, on the left of the screen, chart has to come from down to up, while here we had a higher high before. I could be wrong of course and passed 43 i see the pair goin up (IF we pass 43). How about 2 girls 1 cup formation??
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  • #13,530
  • May 30, 2011 3:45am May 30, 2011 3:45am
Quoting dario1002
How about 2 girls 1 cup formation?? :
trust you ... - ... closed my EG for 7 pips - cheers matey
  • #13,531
  • May 30, 2011 3:50am May 30, 2011 3:50am
Quoting chazzle
trust you ... - ... closed my EG for 7 pips - cheers matey
On my 4h chart... if we manage to close over 6490 we will have a nice rising 3 formation... Not sure today will be a trading day at all... bank holidays
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  • #13,532
  • May 30, 2011 4:01am May 30, 2011 4:01am
Quoting dario1002
Not sure today will be a trading day at all... bank holidays
exactly - hence the small scalp - can't really trust much on these volumes ...
  • #13,533
  • May 30, 2011 4:05am May 30, 2011 4:05am
Quoting chazzle
exactly - hence the small scalp - can't really trust much on these volumes ...
what holiday is that u have?
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  • #13,534
  • May 30, 2011 4:05am May 30, 2011 4:05am
Quoting chazzle
exactly - hence the small scalp - can't really trust much on these volumes ...

dailly chart still have bullish diverence..its interesting weekly very bullish and monthly bearish hangin man..she could sink or try blaze 1.67 and try finish on a new monthly high..

what she gonna do
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 102 KB
Click to Enlarge Name: cable1.jpg Size: 102 KB
  • #13,535
  • May 30, 2011 4:11am May 30, 2011 4:11am
Quoting nAVIN2007
dailly chart still have bullish diverence..its interesting weekly very bullish and monthly bearish hangin man..she could sink or try blaze 1.67 and try finish on a new monthly high..

what she gonna do
hmmm that long wick on a monthly chart for me is still a sign of bullish strenght...

by the way...dude... forex gods loved u this time
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  • #13,536
  • May 30, 2011 4:18am May 30, 2011 4:18am
Quoting dario1002
hmmm that long wick on a monthly chart for me is still a sign of bullish strenght...

by the way...dude... forex gods loved u this time
they always love me man!! (touching plenty of wood)

generally bro..when u have a long wick but the close remain with the previous candle body..it make another attempt down..monthly would signal a bearish signal..top needs to break!

not often u see 4 bullish daily candles in a row
  • #13,537
  • May 30, 2011 4:21am May 30, 2011 4:21am
Quoting dario1002
what holiday is that u have?
what do you mean? - Bank holiday UK yes , and me also - back to the London chaos on wednesday ...
  • #13,538
  • May 30, 2011 4:35am May 30, 2011 4:35am
Quoting dario1002
what holiday is that u have?
Dario
May 30th is the Spring Bank Holiday
cheers
  • #13,539
  • May 30, 2011 5:51am May 30, 2011 5:51am
Quoting A 5
Dario
May 30th is the Spring Bank Holiday
cheers
cheers

we don't have such holiday.. and i'm not big fan of holidays in general, so i didn't know it
I don't want a job, i want money!
  • #13,540
  • May 30, 2011 5:58am May 30, 2011 5:58am
Quoting nAVIN2007
they always love me man!! (touching plenty of wood)

generally bro..when u have a long wick but the close remain with the previous candle body..it make another attempt down..monthly would signal a bearish signal..top needs to break!

not often u see 4 bullish daily candles in a row
hmmm and in my personal experience... if the wick is much longer than the real body.... even on hanging man, it is just a sign of continuation... anyway we will see how it will be in couple of days

i decided that today i close my month with roughly 3% gain... not bad. Better is that... if we consider the month 16th april-16th may (16th just matters as i started trading in a more serious way the 16th of february) i made roughly 6% . And from 16th may till now i made 1%.. still way to go

time for my jogging guys... 50 pips range on both our beloved pairs... no sense to stay in front of charts for now
I don't want a job, i want money!
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