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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #3,081
  • Oct 17, 2011 8:58am Oct 17, 2011 8:58am
If you throw out the steeper support trendline on the 1H/4H charts and go to the less steep one, we are sitting on it. Could go higher off this for a bit before hopefully resuming decline.
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  • #3,082
  • Oct 17, 2011 9:03am Oct 17, 2011 9:03am
Quoting Tom_D_Trader
That was just a reminder saying: Do not trust anyone here. Just learn.

I am sometimes so funny I dont even understand my own jokes.

T.
No worries Tom. I know you haven't been in this thread long and that you have had exposure in that "other" thread where BS flies all over the place.

Here we are serious and there is very little BS if any. I like to keep it that way so when people post something, it is what they believe and it is backed up by authoritative sources.

It is all spelled out on Page 1. If you haven't read it yet, please do.

Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #3,083
  • Edited 9:06am Oct 17, 2011 9:05am | Edited 9:06am
Quoting ntrprz
If you throw out the steeper support trendline on the 1H/4H charts and go to the less steep one, we are sitting on it. Could go higher off this for a bit before hopefully resuming decline.
yes it has just bounced off 1.3750 support now on the 5M with an unconfirmed bullish pin bar. Let's see.
Those who say it cannot be done should not interrupt those who are doing it
  • #3,084
  • Oct 17, 2011 9:12am Oct 17, 2011 9:12am
The hourly has been climbing in a stair pattern since last Monday.
Each successive breakout has not come back to test prior resistance.
This morning we are currently testing the prior resistance level of 1.3800 and are trading below it.
This suggests that upward momentum is waning.
  • #3,085
  • Oct 17, 2011 9:14am Oct 17, 2011 9:14am
When Promises Meets Reality, the Euro Falls

A lot of cold water has been spilled on the high hopes for a quick and comprehensive solution for the European debt crisis. With less expectations from the upcoming summit and from a Chinese rescue, EUR/USD loses the critical resistance line it struggled to conquer.

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Those who say it cannot be done should not interrupt those who are doing it
  • #3,086
  • Oct 17, 2011 9:19am Oct 17, 2011 9:19am
I think its safe to say the bulls have given up their fight for now.. just my opinion, looking for potential stop crushing power on the charts now. Im short with ya PP looking also for the next major support at 3660 area. Oh my if it powers thru that my friend it will be a gold mine. Lets see what transpires, I have also set an alert at 3830 level to reload on this short if price wants to get lippy with me. Although i really dont see that happening today at this point. Good Luck to everyone
  • #3,087
  • Oct 17, 2011 9:20am Oct 17, 2011 9:20am
Quoting PipTrapper
No worries Tom. ..
Yea, yea, I ve read it. I dont really care about any peoples behaviour. I put most of people on thread "whose name shall not be spoken" to ignore list. Easy solution. And I do not trust any of you, and I assume you are doing the same. The only thing I am doing is analyzing and improving myself. I love to read charts even from a 15 year old demo kid as he may have spotted something I missed. I just learn, learn, learn and so on. And I encourage everyone here to tear my charts and analysis apart as argumentation against others is the best way to learn.

So you know what I am waiting for: I am waiting for a retracement to 1,39x area and then I sell. Not now. I may be missing the train but i just dont give a damn. Bounce to 1,39x area may come from 1,368x. And if 1.368x is broken at first attempt, I may sell there (after I adapt my predictions) Here is my weekends chart, cant post new now.

T.
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"I know one thing, that I know nothing." Sokrates
  • #3,088
  • Oct 17, 2011 9:23am Oct 17, 2011 9:23am
Quoting MotownPhill
I think its safe to say the bulls have given up their fight for now.. just my opinion, looking for potential stop crushing power on the charts now. Im short with ya PP looking also for the next major support at 3660 area. Oh my if it powers thru that my friend it will be a gold mine. Lets see what transpires, I have also set an alert at 3830 level to reload on this short if price wants to get lippy with me. Although i really dont see that happening today at this point. Good Luck to everyone
Here's my H1 chart Mo. It is also showing a bearish divergence. Now all my charts are.
Also note how price has broken the channel support and cleared the 50ema by several candles. I really don't see 1.38+ today but then those jawboners in Europe could very well say something to inject a bit more hopium.

.
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Those who say it cannot be done should not interrupt those who are doing it
  • #3,089
  • Oct 17, 2011 9:25am Oct 17, 2011 9:25am
wow Tom that really hurts my feelings, i mean if you cant trust a bunch of people you have never met in a chat room with 80 diffrent opinions on what they are looking at..who can ya trust????
  • #3,090
  • Oct 17, 2011 9:25am Oct 17, 2011 9:25am
Quoting PipTrapper
yes it has just bounced off 1.3750 support now on the 5M with an unconfirmed bullish pin bar. Let's see.
Yes, on the 5M though, two pins up top and heading back to retest 1.375 again I think.
  • #3,091
  • Oct 17, 2011 9:27am Oct 17, 2011 9:27am
Quoting PipTrapper
Yessirreee Check out the news items I posted
Thankyou, just started to catch wind of that, so much for hopium.

Looks like EJ is leading the bear rampage -200 pips today. $J is following back down to 76.7 Might start looking for a long there again soon myself for a pop back into the 77s

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I don't care which way the market is going as long as it's going my way
  • #3,092
  • Oct 17, 2011 9:31am Oct 17, 2011 9:31am
Quoting Tom_D_Trader
So you know what I am waiting for: I am waiting for a retracement to 1,39x area and then I sell. Not now. I may be missing the train but i just dont give a damn. Bounce to 1,39x area may come from 1,368x. And if 1.368x is broken at first attempt, I may sell there (after I adapt my predictions) Here is my weekends chart, cant post new now.

T.
It's certainly possible to see 1.39 Tom, but I just don't see that happening today unless we get good news from Europe.
The week is young though.
Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #3,093
  • Oct 17, 2011 9:34am Oct 17, 2011 9:34am
Quoting ntrprz
Yes, on the 5M though, two pins up top and heading back to retest 1.375 again I think.
Yeah now it's testing 1.3750 from resistance.. not support
Those who say it cannot be done should not interrupt those who are doing it
  • #3,094
  • Oct 17, 2011 9:34am Oct 17, 2011 9:34am
Quoting PipKiller
Thankyou, just started to catch wind of that, so much for hopium.

Looks like EJ is leading the bear rampage -200 pips today. $J is following back down to 76.7 Might start looking for a long there again soon myself for a pop back into the 77s

Attachment
Bulls are getting stopped out
Those who say it cannot be done should not interrupt those who are doing it
  • #3,095
  • Oct 17, 2011 9:39am Oct 17, 2011 9:39am
Today moves only makes me see another higher level of EU..maybe my looks have problem now..hopefully am wrong

I am hope Buma Long are Ok
If there was easy money lying around,no one would be forcing it into your
  • #3,096
  • Oct 17, 2011 9:39am Oct 17, 2011 9:39am
I have my trendline at 1.3734 and took profit right there for a trade from 1.3826.

Remember that you all talked about biases earlier on.
I have three that struggle with
1. Always think that the trend will change
2. When it changes PA wise I have a hard time trusting it
3. Always want to hit a homerun.

You can take today for example.

My long got stopped out at break even then i looked for longs and couldn't see the short setup at the top and then finally I took a short at the break of 1.3826.

Ok so whats wrong with that. Well really nothing still in green, but I could have had a lot more. Learn and develop....

Quoting PipTrapper
yes it has just bounced off 1.3750 support now on the 5M with an unconfirmed bullish pin bar. Let's see.
  • #3,097
  • Oct 17, 2011 9:39am Oct 17, 2011 9:39am
Quoting PipTrapper
It's certainly possible to see 1.39 Tom, but I just don't see that happening today unless we get good news from Europe.
The week is young though.
Cheers
PT
There wont be any good news from Europe. Frau Merkel admitted three hours ago they will be unable to deliver their "final solution" at 23th. Thats when this minor bearish correction started.
I dont see 1,39 today either, I am just too scared of that 700 pip bullish trend with hardly any retracement, so I am waiting for that retracement to come.

T
"I know one thing, that I know nothing." Sokrates
  • #3,098
  • Oct 17, 2011 9:43am Oct 17, 2011 9:43am
Quoting PipTrapper
Here's my H1 chart Mo. It is also showing a bearish divergence. Now all my charts are.
Also note how price has broken the channel support and cleared the 50ema by several candles. I really don't see 1.38+ today but then those jawboners in Europe could very well say something to inject a bit more hopium.

.
Momentum strong down on the dow, was near top of range and a bit above. Could be a nice 200 point dow sell off which will pull EURUSD down with it.
  • #3,099
  • Oct 17, 2011 9:44am Oct 17, 2011 9:44am
I missed the train But there will be a pullback somwhere close to NY close probably... usually in late NY and asian things slow down or retrace, so when I come home maybe I will catch the downtrend . Don't have my charts with me, but probably my black line was completely broken, after many repeated test. I'd say, it got overtested . Now I know why I had a baaaad feeling about going long on EURUSD. Hesitating sometimes protects.

Waiting for the next stop to get in (probably will be able to in 2 hours) so tell the driver to wait for me
  • #3,100
  • Oct 17, 2011 9:48am Oct 17, 2011 9:48am
Quoting Tom_D_Trader
There wont be any good news from Europe. Frau Merkel admitted three hours ago they will be unable to deliver their "final solution" at 23th. Thats when this minor bearish correction started.
I dont see 1,39 today either, I am just too scared of that 700 pip bullish trend with hardly any retracement, so I am waiting for that retracement to come.

T
Well if you can't enter a trade with conviction and be nimble about it, you're making the right call to stay out. I'm not really confident about it either but I've got my finger on the button ready for a panic close. So whatever happens, well it just happens.
Those who say it cannot be done should not interrupt those who are doing it
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