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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #6,801
  • Nov 1, 2011 6:55am Nov 1, 2011 6:55am
This looks as if the SNB is acting. But whatever lift they give to the Euro is being absorbed by selling in Euro/USD
1.3700 is giving way much quicker then thought.

Thought the pair would range until the ISM at 10
  • #6,802
  • Nov 1, 2011 6:56am Nov 1, 2011 6:56am
Quoting johnnypocket
Was wondering myself if it qualifies as a double bottom. (First post entered- long time lurker, first time poster, go easy on me!!)
Absolutely is a double bottom. Perhaps the third in 2 two days. I actually tried to go long yesterday, but I just couldn't bring myself to do it.

Edit... was. yet one more break out.
Kill the ego, or it will kill the mission.
  • #6,803
  • Nov 1, 2011 6:59am Nov 1, 2011 6:59am
In your opinion, what's preferable? Holding a position over a long period or jumping in and out catching the waves? I think my habit of closing/opening multiple ones is not very good and I should change. Anyways, 1.3675 broken and we're down once again.

Quoting FXMindset
Hello Bro,

Yes am still hold my short from 1.4160 till now - 1 Position enough for me and I dont added more

I like to see it break 1.3650
  • #6,804
  • Nov 1, 2011 7:03am Nov 1, 2011 7:03am
Now I can kick myself for pulling all 3 positions yesterday instead of leaving 1 run. Oh well hind sight is 20/20 and the markets haven't been nice enough lately for me to leave anything on the table.

Very strong risk off day so far. Money is flowing hard into US$ and US bonds. European stocks tanking. Greece has head up rear, Italian bonds set new record high for bond sales. EFSF bonds a flop.

Euro still dropping in what looks like Swiss intervention.

A strong drop like this is hard to get a retrace on the larger time frames on the swing setup so I've dropped to the 2 minute to pick a level to enter with less risk. Battle royal around the 1.37 - 1.3660

I'm short frontrunning a couple small supply levels on my scalp setup hoping to turn it into an intraday or better and follow it.

Entry short 1.3706
SL 1.3726...... almost got hit
Target open

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I don't care which way the market is going as long as it's going my way
  • #6,805
  • Nov 1, 2011 7:05am Nov 1, 2011 7:05am
H4 closed within a zone.

Ressistence at 36664 got penetrated. No correction has to happen now. we may easily see 3582 in few hours.

Still no hopium coming.

Tom moves in.
"I know one thing, that I know nothing." Sokrates
  • #6,806
  • Nov 1, 2011 7:05am Nov 1, 2011 7:05am
Quoting jeff_b
In your opinion, what's preferable? Holding a position over a long period or jumping in and out catching the waves? I think my habit of closing/opening multiple ones is not very good and I should change. Anyways, 1.3675 broken and we're down once again.
1.3650 is the bottom second wave when started correction,breaking that level I am will keep hold my short and looking for the last bottom wave 1.31
If there was easy money lying around,no one would be forcing it into your
  • #6,807
  • Nov 1, 2011 7:08am Nov 1, 2011 7:08am
1.3646 would be sweet! If we hit that I'll have scalped 150pips from eur/usd alone in the last 4 hours!
  • #6,808
  • Edited 7:24am Nov 1, 2011 7:14am | Edited 7:24am
Ok guys, what do you think? The dreaded reversal bar?

EDIT: subsequent bars are not acting like a reversal bar.
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Kill the ego, or it will kill the mission.
  • #6,809
  • Nov 1, 2011 7:16am Nov 1, 2011 7:16am
Its just finding support at the 200sma on the 4h. Further downside in my opinion..
  • #6,810
  • Nov 1, 2011 7:17am Nov 1, 2011 7:17am
Just try small long on Eurchf @ 1.2203 Stop @ 1.2153 - Risk 0,5% TP : Open
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If there was easy money lying around,no one would be forcing it into your
  • #6,811
  • Nov 1, 2011 7:18am Nov 1, 2011 7:18am
Quoting AaronWard
Ok guys, what do you think? The dreaded reversal bar?
That is dreadful indeed. But looking at it now, i'd say it might reverse again.
  • #6,812
  • Nov 1, 2011 7:19am Nov 1, 2011 7:19am
Quoting AaronWard
Ok guys, what do you think? The dreaded reversal bar?
nope. It's just taking a break. Another shorting opportunity.

EDIT: If you are looking for a good price to short, I would wait for 1.3700 (if we even see it). But keep a tight stop.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,813
  • Nov 1, 2011 7:20am Nov 1, 2011 7:20am
My chart for reference, I don't see the rev. sign at all, can you point out? Have just take profit, will short again @ 1.37.
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  • #6,814
  • Nov 1, 2011 7:21am Nov 1, 2011 7:21am
Anybody trading sp500 look at that monster drop all in one minute about 30mins ago
  • #6,815
  • Nov 1, 2011 7:24am Nov 1, 2011 7:24am
Quoting RodMca
Anybody trading sp500 look at that monster drop all in one minute about 30mins ago
If it manages to drop below the 1200 level, it's gonna be a disaster.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,816
  • Nov 1, 2011 7:25am Nov 1, 2011 7:25am
Quoting AaronWard
Ok guys, what do you think? The dreaded reversal bar?
Looks more like a good scalp short to me. Buy low, sell high, don't fight a strong trend.

Trend, sentiment and right into a supply level on the 5 minute.

That's my opinion.
I don't care which way the market is going as long as it's going my way
  • #6,817
  • Nov 1, 2011 7:28am Nov 1, 2011 7:28am
Quoting PipTrapper
If it manages to drop below the 1200 level, it's gonna be a disaster.
Silver dumped too. Silver and copper both down more than 4% right now.

Bank stocks leading the way. BoA down 5% in preopen trading.
I don't care which way the market is going as long as it's going my way
  • #6,818
  • Nov 1, 2011 7:30am Nov 1, 2011 7:30am
Exactly it PK follow it all the way down on the 5 min! short at 1.3702 and aint leaving anytime soon.. Unless my breakeven gets hit ha!


PT 1200 could very well be hit over the coming days? Draghi is in a very compromising situation where if he leaves interest rates unchanged it signals they are slowly breaking up the euro and leaving the peripheries to fight the crisis themselves and if he reduces interest rates well that means sell euro so....... sell the euro! Meaning risk off and possibly see 1200 as a result.. Who knows!
  • #6,819
  • Nov 1, 2011 7:32am Nov 1, 2011 7:32am
Time to close the scalp with a mere 15 pips will look to re-enter after this technical correction(brief)
  • #6,820
  • Nov 1, 2011 7:33am Nov 1, 2011 7:33am
Cmon, lets short this nasty into oblivion.

Take a deep breath my lady. And dive.
"I know one thing, that I know nothing." Sokrates
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