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EurAnalysis Kindergarten 24 replies

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  • #15,801
  • Dec 21, 2011 5:36am Dec 21, 2011 5:36am
Hmm haven't that level marked down will take a look tonight. Have a 1H there though. Could be different because of which time frame you are looking at.

Quoting PipTrapper
1.3210 is also H4 historical resistance... even last week it offered very good resistance after being easily broken support.

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  • #15,802
  • Dec 21, 2011 5:38am Dec 21, 2011 5:38am
Quoting TheSwede
Anybody can/care to explain the 120+ PIP plunge?
sp500 hit top of range
1.32 area was loaded with sell limits (mine was just above the high dammit)

Basically it's all about profit taking... not driven by fundamentals. Strictly technical order flow.
Those who say it cannot be done should not interrupt those who are doing it
  • #15,803
  • Dec 21, 2011 5:41am Dec 21, 2011 5:41am
Quoting PipTrapper
Agreed, but I'm not looking for a long position.. Just looking for a higher short.
Merry Christmas all - Please come 1.322
http://25.media.tumblr.com/Nv2uYudHq...vfHwXV_400.gif
If there was easy money lying around,no one would be forcing it into your
  • #15,804
  • Dec 21, 2011 5:41am Dec 21, 2011 5:41am
Quoting Tyoon
Here is my overview so far.

The equity rally that drove a lot of this move today (IMO) could (and looks like) it is topping out.

My outlook on gold is similar too.

With equities and gold looking bearish for the days to come, risk will fall off and dollar will be demanded.

The supply zone above today's EURUSD bull looks very attractive but so did 1.288 last week.

Of course I am excluding the speculation of this week's events and news, so is a rather loose analysis but hopefully it will be of use to someone.

(SP500, not DOW on chart)

.....
Equities rallied a bit further than I expected... Woke up this morning and saw a fat pin bar on sp500 and eurusd in supply.

Cup n hadle worked out perfectly on GBPUSD..

Scalping this fall as I wasn't awake for earlier movements.

..
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  • #15,805
  • Dec 21, 2011 5:44am Dec 21, 2011 5:44am
Quoting TheSwede
Hmm haven't that level marked down will take a look tonight. Have a 1H there though. Could be different because of which time frame you are looking at.
Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #15,806
  • Dec 21, 2011 5:57am Dec 21, 2011 5:57am
Quoting FXMindset
Merry Christmas all - Please come 1.322
merry xmas to u too fxm,

LOL yeah it will i believe soon. the santa rally!

lol those aniamted stuff never fail to make me laugh
Have I got something on my face, SOLDIER?
  • #15,807
  • Dec 21, 2011 6:01am Dec 21, 2011 6:01am
Quoting FXMindset
Merry Christmas all - Please come 1.322
Haha what's with all this cute stuff? We might see 1.322.... a few strong correlated instruments are forming a falling wedge.
  • #15,808
  • Dec 21, 2011 6:02am Dec 21, 2011 6:02am
Have taken my 4H from FXCM (london) not my FxPro account (London +2)

Quoting PipTrapper
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  • #15,809
  • Dec 21, 2011 6:06am Dec 21, 2011 6:06am
Quoting TheSwede
Have taken my 4H from FXCM (london) not my FxPro account (London +2)
FXCM UK

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Those who say it cannot be done should not interrupt those who are doing it
  • #15,810
  • Dec 21, 2011 6:07am Dec 21, 2011 6:07am
can we please oh so plllease hit 3050 first for a long?

come on.
Have I got something on my face, SOLDIER?
  • #15,811
  • Dec 21, 2011 6:08am Dec 21, 2011 6:08am
Quoting Tyoon
Haha what's with all this cute stuff? We might see 1.322.... a few strong correlated instruments are forming a falling wedge.
We're bored

http://www.tazworld.com/anim/16.gif
Those who say it cannot be done should not interrupt those who are doing it
  • #15,812
  • Dec 21, 2011 6:09am Dec 21, 2011 6:09am
PipKiller, are you still open long?
  • #15,813
  • Dec 21, 2011 6:10am Dec 21, 2011 6:10am
That was an intense morning

short @ 3080, 3132, 3195.. scaled from smallest to largest.

futures are paring previous levels.
Any prices quoted are futures
  • #15,814
  • Dec 21, 2011 6:15am Dec 21, 2011 6:15am
dropped about 100 pips and you want to go long?

with this crazy market, up it goes and now down it goes lol

i am a spectator today, i am squared but observing see if i jump in, however it is clear to me that we might be well on our way down.

who knows? thin markets offer many opportunities for those that can profit.
AVT INVENIAM VIAM AVT FACIAM
  • #15,815
  • Dec 21, 2011 6:16am Dec 21, 2011 6:16am
I would advise everybody who follows chart patterns and set ups to pay close attention to the FTSE and the DOW during their market hours. Much of the up and down of the Euro or Gold looks pretty random, but in reality they are taking the majority of their direction from the stock market. Watch the set ups on the stock exchange and you will see what I mean.
Kill the ego, or it will kill the mission.
  • #15,816
  • Dec 21, 2011 6:18am Dec 21, 2011 6:18am
Quoting the redlion
dropped about 100 pips and you want to go long?

with this crazy market, up it goes and now down it goes lol

i am a spectator today, i am squared but observing see if i jump in, however it is clear to me that we might be well on our way down.

who knows? thin markets offer many opportunities for those that can profit.
IMO this is typical market behavior in the corrective portion of a trend movement. We have seem similar behavior at least a dozen times in the last few months.

This is typical flag behavior which is volatile, going nowhere fast. It is more common than not with the EU. I have circled a few areas on the daily where we have seen these insane (and inane) spikes over and over again.
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Kill the ego, or it will kill the mission.
  • #15,817
  • Dec 21, 2011 6:19am Dec 21, 2011 6:19am
Quoting AaronWard
I would advise everybody who follows chart patterns and set ups to pay close attention to the FTSE and the DOW during their market hours. Much of the up and down of the Euro or Gold looks pretty random, but in reality they are taking the majority of their direction from the stock market. Watch the set ups on the stock exchange and you will see what I mean.
how do you know its not the other way around? The money flows in cash are larger than those in the stock markets, typically, so wouldn't it stand to reason that stocks follow the money?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #15,818
  • Dec 21, 2011 6:21am Dec 21, 2011 6:21am
Quoting Tyoon
PipKiller, are you still open long?
Yes, I still hold several "risk on" positions in both accounts.

No worries here.

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I don't care which way the market is going as long as it's going my way
  • #15,819
  • Dec 21, 2011 6:21am Dec 21, 2011 6:21am
Quoting redteamgo
That was an intense morning

short @ 3080, 3132, 3195.. scaled from smallest to largest.

futures are paring previous levels.
i think shorts are the way to go at this point. this merely adds liquidity into the euro banks but the problem is that of solvency. the ecb has allowed the banks to borrow at bottomed out rates so that they can buy sovereigns. its like backdoor QE, which I'm surprised to see has proved bearish, possibly because of the coincidentally significant price levels. 2 weeks from now in january, we are going to be back on track for the mid 12000s and up 8 cents


.... unless there is more intervention.
Any prices quoted are futures
  • #15,820
  • Dec 21, 2011 6:21am Dec 21, 2011 6:21am
maybe today i just cant trade..........that is why i sit on my hands, i am supposed to be working lol which i am.

that is why i love my job, they pay me to be on call but no patient related issues so far. so i relax on my multi chart multi monitor station, looking at the market and crunching numbers, testing probabilities, but some how i do not feel like trading today
AVT INVENIAM VIAM AVT FACIAM
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