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  • #13,741
  • Dec 7, 2011 9:54am Dec 7, 2011 9:54am
Quoting Tyoon
Right now, I see bearish all above 15M.

It was due for a bullish move a few weeks ago technically due to divergence, falling wedge and overall LTL. Now it's just retracing up from the overall bear.

The next couple of days of fundies will tell us.
Look at a monthly chart of the last 12 years. Really quite bullish. However trading a chart of 12 years is a bit difficult.

Agree we are waiting for big news events over the next few days.
Kill the ego, or it will kill the mission.
  • #13,742
  • Dec 7, 2011 9:55am Dec 7, 2011 9:55am
Nice text, all i understood was magnets.
  • #13,743
  • Dec 7, 2011 9:58am Dec 7, 2011 9:58am
Quoting bumapatria
its unfinished but its a square of nine

reall cool when u use it with demand and supply and other stuff u got going

and yes it looks like a 'star' but it has specific 'magnet's to the angles. liek 1x1 angles the ones that are criss cross from bottom left to top and vice versa are the magnets of the market.

has reason to move there most of the time...
The only magnets I ever see in the market are my Stop loss orders
I don't care which way the market is going as long as it's going my way
  • #13,744
  • Dec 7, 2011 10:00am Dec 7, 2011 10:00am
Quoting nyfx718
wow breathing a sigh of relief, when this pair rallied up this early morning I closed out my trade for a 0.3 pip gain lmao :=)

back long again though, slightly in the green so far, hope to see this thing crack 1.3500 today. Thoughts?
1.35 is a bit ambitious. So unless you have exclusive access to information that suggests that, I wouldn't bet on it. Not even with other people's money.

As I mentioned earlier today, this pair is caught in a compressing pennant triangle. The Apex still has a while to go... probably into tomorrow just in time for the ECB press conference.

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Those who say it cannot be done should not interrupt those who are doing it
  • #13,745
  • Dec 7, 2011 10:02am Dec 7, 2011 10:02am
Quoting PipKiller
The only magnets I ever see in the market are my Stop loss orders
When you see that happening too often, then it's either time to move your SLs further away, or in the case of a trailing SL in a profit trade, closer.
Those who say it cannot be done should not interrupt those who are doing it
  • #13,746
  • Dec 7, 2011 10:03am Dec 7, 2011 10:03am
PT, maybe around 1.36 it reaches before the big fall? Based on 200 period sma on the 4 hr chart?

Quoting PipTrapper
Good morning all.
Euro still creeping up. Kind of reminds me of that song by James Taylor, "Something in the way she moves"
The compressing triangle is still in play and price has failed to violate either side of it. If it continues to play this game, me may see it reverse to the downside today to test the rising trend line. By my projections that would be around 1.3360 area. However, if price manages to break upwards through the falling trend line. then 1.35xx area (last week's highs will be the next target.
Other than that I really don't expect...
  • #13,747
  • Dec 7, 2011 10:08am Dec 7, 2011 10:08am
Quoting PipKiller
The only magnets I ever see in the market are my Stop loss orders
Something to think about

Seriously, you might want to check out this thread. It is by one of the few masters that are floating around FF. (its about price magnets).

http://www.forexfactory.com/showthread.php?t=275423
Kill the ego, or it will kill the mission.
  • #13,748
  • Dec 7, 2011 10:13am Dec 7, 2011 10:13am
Quoting nyfx718
PT, maybe around 1.36 it reaches before the big fall? Based on 200 period sma on the 4 hr chart?
That all depends on how the market reacts to Draghi tomorrow and the EU summit on Friday.

Here's a possible scenario but nothing to base any trades on.

Tomorrow, the market likes what Draghi has to say so price rallies up to 1.3550 (Probable) or 1.3610 (possible) or 1.37 (wishful) or 1.3825 (whatever).

Friday, the announcement from the EU summit disappoints and the whole thing comes crashing down again and keeps going into next week into the low 1.30xx area

If only my crystal ball was working.

I am convinced the Euro will see 1.2xxx in early 2012... probably as early as January. Timing is always the hardest part. From a position trader's perspective, it really doesn't matter when. What matters most is where one enters the market, and these levels is certainly not where I want to get in. I'm holding out for a higher price. If we don't get it and it heads down from here, then I will try and jump in on pullbacks with tight stops.

Regardless, now is not the time for me.
Those who say it cannot be done should not interrupt those who are doing it
  • #13,749
  • Dec 7, 2011 10:20am Dec 7, 2011 10:20am
Quoting nyfx718
wow breathing a sigh of relief, when this pair rallied up this early morning I closed out my trade for a 0.3 pip gain lmao :=)

back long again though, slightly in the green so far, hope to see this thing crack 1.3500 today. Thoughts?
Tested well the support ..now cruide oil inventory could push this pair in 1.342x...then wait if no further bomb drops from the EZ members....lets ride
  • #13,750
  • Dec 7, 2011 10:28am Dec 7, 2011 10:28am
Quoting PipTrapper
That all depends on how the market reacts to Draghi tomorrow and the EU summit on Friday.

Here's a possible scenario but nothing to base any trades on.

Tomorrow, the market likes what Draghi has to say so price rallies up to 1.3550 (Probable) or 1.3610 (possible) or 1.37 (wishful) or 1.3825 (whatever).

Friday, the announcement from the EU summit disappoints and the whole thing comes crashing down again and keeps going into next week into the low 1.30xx area

If only my crystal ball was working.

I am convinced the Euro will see 1.2xxx...
Thanks for your view.

Can anybody else share their view on the events of the next couple of days?
  • #13,751
  • Dec 7, 2011 10:36am Dec 7, 2011 10:36am
Quoting PipKiller
The only magnets I ever see in the market are my Stop loss orders
so put ur stop loss off

no more magnets!
Have I got something on my face, SOLDIER?
  • #13,752
  • Dec 7, 2011 10:38am Dec 7, 2011 10:38am
Quoting Tyoon
Thanks for your view.

Can anybody else share their view on the events of the next couple of days?
Tyoon, I haven't officially welcomed you to EurAnalysis. So, welcome
If you haven't already done so, please read page 1. There you will find all the rules and objectives of this thread as well as some useful resources for novices and seasoned traders alike.
Looking forward to your ongoing participation here.
Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #13,753
  • Dec 7, 2011 10:44am Dec 7, 2011 10:44am
Quoting PipTrapper
Tyoon, I haven't officially welcomed you to EurAnalysis. So, welcome
If you haven't already done so, please read page 1. There you will find all the rules and objectives of this thread as well as some useful resources for novices and seasoned traders alike.
Looking forward to your ongoing participation here.
Cheers
PT
I didn't realize this was your thread. I appreciate the welcome
  • #13,754
  • Dec 7, 2011 11:03am Dec 7, 2011 11:03am
Inserted Video


i dont think man changed that much ever since this

pedro showed it to me

Have I got something on my face, SOLDIER?
  • #13,755
  • Dec 7, 2011 11:09am Dec 7, 2011 11:09am
Guys I am sorry for not posting much today, but I am rolling on the floor laughing hard whole day at EURUSD thread. That is such an incredible parade of incompetence and stupidity that I have been laughing nonstop for last three hours. And I am currently laughing so hard that I actually started crying. Never seen a better commedy. It has absolutely nothing in common with trading, but why not have a good laugh while waiting for correction huh?

T
"I know one thing, that I know nothing." Sokrates
  • #13,756
  • Dec 7, 2011 11:11am Dec 7, 2011 11:11am
Btw, I have just arrived home. This is how it looks like on my H1 chart. Nothing going on, still meddling around same old levels around ,38x. 34442 - 34578 crate top of todays range.

T
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"I know one thing, that I know nothing." Sokrates
  • #13,757
  • Dec 7, 2011 11:20am Dec 7, 2011 11:20am
Quoting AaronWard
Something to think about

Seriously, you might want to check out this thread. It is by one of the few masters that are floating around FF. (its about price magnets).

http://www.forexfactory.com/showthread.php?t=275423
TY, He has some very good threads. I bookmarked that one to read

I was being a smart azz and messing with Buma about the magnets.
I don't care which way the market is going as long as it's going my way
  • #13,758
  • Dec 7, 2011 11:25am Dec 7, 2011 11:25am
Quoting PipKiller
TY, He has some very good threads. I bookmarked that one to read

I was being a smart azz and messing with Buma about the magnets.

wmd... guys a maniac that guys a legend with trendlines, s/r and pa....



u should also add trade price to the list. another maniac who trades PA almsot naked bar charts.. amazing.
Have I got something on my face, SOLDIER?
  • #13,759
  • Edited 12:01pm Dec 7, 2011 11:38am | Edited 12:01pm
Quoting bumapatria
wmd... guys a maniac that guys a legend with trendlines, s/r and pa....



u should also add trade price to the list. another maniac who trades PA almsot naked bar charts.. amazing.
Wow, I love wmd's charts.

Nothing new but the wait.
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  • #13,760
  • Dec 7, 2011 11:57am Dec 7, 2011 11:57am
Quoting bumapatria
wmd... guys a maniac that guys a legend with trendlines, s/r and pa....



u should also add trade price to the list. another maniac who trades PA almsot naked bar charts.. amazing.
indeed an excellent read to bookmark .. with that I also trying drawing my exit zone for this week.
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