DislikedI expect a pullback from here but I also feel the market is pretty well cooked for today so I don't expect too much now other than some ranging and possibly forming a temporary bottom to start a correction.
I see resistance levels at 1.3550/70, 1.3600/10, 1.3640/45, 1.3670/80 and 1.3700/10 areas give or take a few pips.
I would not expect price to break any higher than 1.3610 at this point though unless some good news comes out.
M15 chart attached
.Ignored
- #9,742
- Nov 15, 2011 9:41am Nov 15, 2011 9:41am
Absolutely.
I knew when i responded that i will be leaving many criteriums on the table. One of the most important one would be the time horizon. If short term you feel the fundies would be trending up then you would be right to do so. However, if again the EU debt crisis would suddenly take a heavy downturn with the implications of a credit crunch then equities are gonna feel it no matter what the econ data looks like.
take care.
.BTW, I am expecting correction. So I decided to try a tiny tiny gold long, as it sounds promising. Too bad that I got late for nice entries on oil for example. Now it is on a strong resistance and I am not longing it there. If it gets bunch of pips lower though...
ADD: tough demand level, it is, hmm? It was forseen, yet it is confirmed, that breaking lower, not easy, will be. hmm. (Why does not FF has Yoda face as an smiley, hmm? Or at least Noda's face would be great, too...)
Giving a pure order flow perpective.
I have multiple personalities... Bull today Bear tomorrow!
- #9,746
- Nov 15, 2011 9:50am Nov 15, 2011 9:50am
- Joined Apr 2007 | Status: Trader | 1,522 Posts
You're definitely correct. I'm implying my analysis on a correction. I'm a grizzly, polar, and black bear... No bull traps for me
- #9,747
- Nov 15, 2011 9:55am Nov 15, 2011 9:55am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
WTF ?
Those who say it cannot be done should not interrupt those who are doing it
- #9,748
- Nov 15, 2011 9:56am Nov 15, 2011 9:56am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
I have next level of TP at 3495. Hope you aint right.
Once bounce comes, I expect retest of range 3666 - 3689. But I will be shorting since 361x if bulls show any sign of weakness.
I missed it so close
. Hope for retest so I can take TP and then some nice bounce.T.
"I know one thing, that I know nothing." Sokrates
- #9,749
- Nov 15, 2011 9:59am Nov 15, 2011 9:59am
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
- #9,750
- Nov 15, 2011 10:01am Nov 15, 2011 10:01am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
Markets dont act rationally. I'm not a bear or bull. I'm an opportunist. Get ready for the Thanksgiving dollar stuffing and the Santa Claus rally.
Daily trendline support slightly pierced and bounce out of this area near daily demand area. US stocks rallying. Euro may be decoupling with US indices a bit but its still part of the risk on risk off trade for now.
240 minute demand area and swing low held and rejected price.
I have 1% risk on a swing trade long at 1.3537 with stop below swing low at 1.3478
Will pull half around 1.3600 set stop at BE and let the rest run. Remember there's still some unfinished business up aroung the 1.3950 PT... Market isn't rational
Daily trendline support slightly pierced and bounce out of this area near daily demand area. US stocks rallying. Euro may be decoupling with US indices a bit but its still part of the risk on risk off trade for now.
240 minute demand area and swing low held and rejected price.
I have 1% risk on a swing trade long at 1.3537 with stop below swing low at 1.3478
Will pull half around 1.3600 set stop at BE and let the rest run. Remember there's still some unfinished business up aroung the 1.3950 PT... Market isn't rational
I don't care which way the market is going as long as it's going my way
- #9,751
- Nov 15, 2011 10:06am Nov 15, 2011 10:06am
You're definitely correct. I'm implying my analysis on a correction. I'm a grizzly, polar, and black bear... No bull traps for me
. And meanwhile I let my inner commodity bull to get out for a while. Amazingly, my gold long almost immediately went in my direction, and I finally decided to try oil long on a dip. Oil still waits for it SL at BE, gold is already protected 
So, guys, don't short her badly yet, let everything breathe and get a bit higher so I get some profit on my commodity longs and then join the bear party Especially you Tom, please don't blow my SLs with shorting EUR too badly
ADD: okay, I am going to watch some film. Yesterday it was very refreshing for me and I feel like doing it again. I hope any 'market storm' won't demolish my trades right now. Unless we get some EU politicians saying sth they should not, my longs should make it. And since Bunga bunga Berlusconi and G-Pap the Ist are out now, probability of some dumb politician speech decreased.
ADD2: Just as I was wrinting ADD1, my positions suddenly shoot towards my TPs. Market likes me today. No TPs hit yet, but probably enough to set SLs at BE
- #9,752
- Nov 15, 2011 10:11am Nov 15, 2011 10:11am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
So this means I am sleeping bear. As I wait for the correction to short from there
So, guys, don't short her badly yet, let everything breathe and get a bit higher so I get some profit on my commodity longs and then join the bear party Especially you Tom, please don't blow my SLs with shorting...
I don't care which way the market is going as long as it's going my way
- #9,753
- Nov 15, 2011 10:13am Nov 15, 2011 10:13am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
My eyes are burning. I need a break from all these panels LOL
Okay, so the equity and commodity markets seem to be making a recovery after Europe close. I kind of expected this and actually I wanted it as I am looking for shorting opportunities.
So I have placed sell limits at 1.36012 and 1.36737
Why odd numbers like that? I don't want my limit orders at exactly the same price as everyone else coz it causes slippage and execution delays
If you're thinking that I just quoted slightly different prices than where I actually placed my limit orders, I have no comment
If the market does not manage to at least trigger my first limit order, I am not interested in taking any more shorts until I see a decent correction.
Safe trading all
.
Okay, so the equity and commodity markets seem to be making a recovery after Europe close. I kind of expected this and actually I wanted it as I am looking for shorting opportunities.
So I have placed sell limits at 1.36012 and 1.36737
Why odd numbers like that? I don't want my limit orders at exactly the same price as everyone else coz it causes slippage and execution delays
If you're thinking that I just quoted slightly different prices than where I actually placed my limit orders, I have no comment
If the market does not manage to at least trigger my first limit order, I am not interested in taking any more shorts until I see a decent correction.
Safe trading all
.
Those who say it cannot be done should not interrupt those who are doing it
- #9,754
- Edited 10:43am Nov 15, 2011 10:22am | Edited 10:43am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
...
Will pull half around 1.3600 set stop at BE and let the rest run. Remember there's still some unfinished business up aroung the 1.3950 PT... Market isn't rational
.
"I know one thing, that I know nothing." Sokrates
- #9,755
- Nov 15, 2011 10:22am Nov 15, 2011 10:22am
- Joined Apr 2007 | Status: Trader | 1,522 Posts
ADD2: Just as I was wrinting ADD1, my positions suddenly shoot towards my TPs. Market likes me today. No TPs hit yet, but probably enough to set SLs at BE
I don't think it's a legitimate break...could come down from there.
But then again...commodities including oil are simply going in its own direction nowadays perhaps preparing all of us for a hyperinflationary environment
- #9,756
- Nov 15, 2011 10:26am Nov 15, 2011 10:26am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
So, guys, don't short her badly yet, let everything breathe and get a bit higher so I get some profit on my commodity longs and then join the bear party Especially you Tom, please don't blow my SLs with shorting EUR too badly
"I know one thing, that I know nothing." Sokrates
- #9,757
- Nov 15, 2011 10:26am Nov 15, 2011 10:26am
Don't worry about Tom. He's going to be mad at me when I run his stops with my swing long.
All SLs at their BE... but the upward pressure kinda faded. However I prefer not to worry when watching the movie, so - if these longs die, then maybe there will be opportunity to put other longs in place. Or a nice short opportunity may show itself
- #9,758
- Nov 15, 2011 10:28am Nov 15, 2011 10:28am
Well I am shorting like moron but it keeps hitting my SL (-26 so far) and only one short from 357 survived, so I would call it a tie.
Well, now I guess I know whose fault it is that there was no correction yet!
- #9,759
- Nov 15, 2011 10:35am Nov 15, 2011 10:35am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
You mean 357 like... today?
Well, now I guess I know whose fault it is that there was no correction yet!
"I know one thing, that I know nothing." Sokrates
- #9,760
- Nov 15, 2011 10:36am Nov 15, 2011 10:36am
Oil just had a stop hunt above the upper resistance.
I don't think it's a legitimate break...could come down from there.
But then again...commodities including oil are simply going in its own direction nowadays perhaps preparing all of us for a hyperinflationary environment
ADD: As I was writing, oil goes for more stop hunting. Up up and away my darling
Oh, and with all respect, we better focus on EUR before PT spots us and gets mad