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  • #581,861
  • Jan 10, 2012 1:16am Jan 10, 2012 1:16am
good morning all.

I don't see any clear direction at the moment other than the main bear trend.

On the daily chart I have a upper TL at 1.2965 and initial target zone around 1.2537.

On the chart shown we are well within the boundaries of a simple ABC correction of the move down from 3rd Jan 1.3076 to 9th Jan 1.2665.

First target zone for that is 1.2822 which coincides with a 38.2% retrace but timewise it is a little over due so it may not get there.

Second target zone is 1.2912 which coincides with the 61.8% retracement value.

NOTE: both targets are possible without disturbing the daily bear trend

So my plan for this trade is as follows:

1. Short a close below the lower TL.
2. Short a turn around 1.2822 or 1.2912
3. Draw up a new plan if this one is broken - my fav part that everyone forgets to do
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  • #581,862
  • Jan 10, 2012 1:18am Jan 10, 2012 1:18am
Quoting 21vs7
its anyones money there on a table.

I am positioned towards continuance. Still havent clicked yet. you, already gambling?
not really i don't like pa (only my ea took few trade)
Mohan
  • #581,863
  • Edited 1:22am Jan 10, 2012 1:18am | Edited 1:22am
It tried 2780 so my plan to short @ 2713-2722 is pushed out to 2734 at this time.

Edit 28**.....
  • #581,864
  • Jan 10, 2012 1:21am Jan 10, 2012 1:21am
Quoting 21vs7
its anyones money there on a table.

I am positioned towards continuance. Still havent clicked yet. you, already gambling?

taken a small gap trade on the DAX
  • #581,865
  • Jan 10, 2012 1:21am Jan 10, 2012 1:21am
Quoting mohan76
not really i don't like pa (only my ea took few trade)
gonna add him as my friend if it is a seller?
  • #581,866
  • Jan 10, 2012 1:25am Jan 10, 2012 1:25am
Quoting 21vs7
gonna add him as my friend if it is a seller?
forgot to tell you it was loosing trade (still under testing and modify)
Mohan
  • #581,867
  • Jan 10, 2012 1:29am Jan 10, 2012 1:29am
Off to bed.

It will either hit my sl or tp of a small short trade.

If it hits tp will go 10 time more in the same direction. But if it hits sl, will take a u-turn after hitting my sl and will go 15 times more................ but I am concerned only with my sl or tp.
The Thief of Wall Street
  • #581,868
  • Jan 10, 2012 1:29am Jan 10, 2012 1:29am
from my feed....

MNI EURO-DOLLAR TECHS: Recovers Bollinger Band
RES 4: $1.3199/1.3213 High 21 Dec, Former low 25 Nov
RES 3: $1.3075 Highs 3, 4 Jan
RES 2: $1.2858/74 Lows 29 Dec, 21-DMA, 10 Jan
RES 1: $1.2800 5-day moving average
LATEST PRICE: $1.2705
SUP 1: $1.2627/44 Lows 31 Aug & Sep 10, 2010
SUP 2: $1.2603 76.4% of 2010/11 range
SUP 3: $1.2590 Low 24 August 2010
SUP 4: $1.2568 Minor support line 25 Nov
COMMENTARY: Euro-dollar recovered from a $1.2666 low and is now backwithin the $1.2735 Bollinger band, both of which form initial support.This addresses one overstretched indicator for the euro but leaves thepair in the downtrend seen since November, below the 5 & 21-DMAs of$1.2800 and $1.2965. While $1.2666 remains the low, the main near-termFibonacci retracements are $1.2823/1.2871/1.2919.
  • #581,869
  • Jan 10, 2012 1:30am Jan 10, 2012 1:30am
I think we have reached the top before another fall. If it does go higher I feel it will be constrained at 2810 (Daily R1 and 1 hr 100 EMA ) or 2827 ( Weekly Pivot).
Pin bar in last hourly bar and divergence on stock indicator.
Time will tell.
Gregben
  • #581,870
  • Jan 10, 2012 1:30am Jan 10, 2012 1:30am

Quoting Chicky
Off to bed.

It will either hit my sl or tp of a small short trade.

If it hits tp will go 10 time more in the same direction. But if it hits sl, will take a u-turn after hitting my sl and will go 15 times more................ but I am only concerned with my sl or tp.
  • #581,871
  • Jan 10, 2012 1:32am Jan 10, 2012 1:32am
Quoting Chicky
If you observe Daily, this is third attempt by bulls to take it to 1.3300 or beyond. First attempt was made at 1.3000 and second at 1.2900. At the same time London has not bought last week. Yesterday, they were bit active but Monday's are mostly unusual for London. NY Could not push it further down and it started coming up in the afternoon NY session on expectation of european buying. If they don't want to buy at this price again this week................then there will be our WTF.
something like that. yes..some levels for continuance.

could be, that today we dont move 50 pips all day. just commulate.
could be also, that im dead wrong. wouldt be the last time imo.
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  • #581,872
  • Jan 10, 2012 1:42am Jan 10, 2012 1:42am
hmmm. stil holding my longs from the reversed H&S setup on the 1hr. waiting for the target 2810 area.
  • #581,873
  • Jan 10, 2012 1:44am Jan 10, 2012 1:44am
Quoting mohan76
forgot to tell you it was loosing trade (still under testing and modify)
also working on one...but only for indication. It is a seller of all instruments on the market. It does not believe anyone and it sells the junk it is offered to it. I would say it is a realist.

  • #581,874
  • Jan 10, 2012 1:45am Jan 10, 2012 1:45am
Quoting MidasFX
hmmm. stil holding my longs from the reversed H&S setup on the 1hr. waiting for the target 2810 area.
I am long too, but it sure looks like it's running out of steam....thought it might make a pop but 93 seems to be the lid right now
  • #581,875
  • Jan 10, 2012 1:49am Jan 10, 2012 1:49am
Quoting E-Money
I am long too, but it sure looks like it's running out of steam....thought it might make a pop but 93 seems to be the lid right now
just glad i closed in some profit earlier. it may soften the blow if it hits my sl.
  • #581,876
  • Jan 10, 2012 1:50am Jan 10, 2012 1:50am
just adding it to rumor library

Rumours of sovereigns selling euro just below 1.28.
Mohan
  • #581,877
  • Jan 10, 2012 1:51am Jan 10, 2012 1:51am
68 to watch...but not buying this crap

Italy rising, Spain depressed.
DAX looking again to be on pills. Mofoos are treating him as a psycho!

We need her to move under 68 with Laaaandan...and later we have a runner again to solve 43. 89 is a cap atm
  • #581,878
  • Jan 10, 2012 1:55am Jan 10, 2012 1:55am
S @ 68
  • #581,879
  • Jan 10, 2012 1:57am Jan 10, 2012 1:57am
Long @ 2768 strictly a scalp
  • #581,880
  • Jan 10, 2012 1:58am Jan 10, 2012 1:58am
Quoting MaxDoom
S @ 68

going to bet Laaandan are we?

had 84 on a trigger there but did not comply.
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