EurAnalysis

I will just sit back now...if it's in the middle of this supply zone and 1.2735

Hi GP - is this what your looking for - the grey market profile type indy on the RHS of the screen - the look period back can be set, so with a low setting it would show more as a real time indy. This shot is set at 500 bars.....its attached....
Cheers
Islander

Buy from 1.2760 ... almost breaking the R....

..closed 40 pips...now will seat and watch carefully ..

lol..PT is sleeping ... may got amused when started reading the pending thread replies as "First thing in the morning"

Time - around half an hour after LO, Price - holding above the Daily Pivot and Pattern - a higher volumed harami so it was rude not to go long ....now to see IF price can break above the R1 resistance area......TWT

Good morning traders....we are currently at a mid point in my in-decision zone..I like to watch one full swing before I trade so I can get the feel for the market.

Price created another lower high but yet to break the R ... so May be we can play safely between the Upper and Lower Price Channel for now with ref Stoch-RSI...

PT is Bearish guy and hybernates in wintertime. (And Bullish time)

A


BTW. Magical 1.28 is officially broken!

http://www.actionforex.com/trading-s...0120102156503/

Any Thoughts ?

Despite falling to as low as 72.70 in H1 2011, dollar index found good support there and staged a rebound from there back to the opening level of 2011, suggesting the major downtrend is not ready to resume yet and wave IV correction is still unfolding as a complex correction. We are keeping our preferred count that a major (A)-(B)-(C) wave has commenced since 1980s with (A) wave ended at 78.19 in 1992, followed by a 3-legged wave (B) ended at 121.02 in 2001 and 5-waver wave (C) is unfolding with wave III ended at 70.70 in 2008, hence wave IV is taking place with A leg of IV ended at 89.62 in March 2009, then B leg at 74.23 (Nov 2009) and C leg has ended at 88.70 as 2010 high, the subsequent retreat from there to 72.70 is now labeled as wave X and second set of A-B-C is unfolding. Under this count, this second A leg should bring a stronger rebound to previous resistance at 81.44, then 82.65 (61.8% Fibonacci retracement of 88.66 to 72.70), break there would bring further gain to 83.55 but reckon 86.25 would limit upside and bring another retreat in 2nd wave B later.

On the downside, whilst pullback to 79.25 cannot be ruled out, support at 77.97 should limit downside and attract renewed buying interest, bring such a rise to aforesaid upside targets. Only a monthly close below 76.50 would suggest the rebound from 72.70 has possibly ended instead and risk test of previous support at 74.73 but only a drop below this level would confirm and bring another fall to 72.70, a sustained breach of this level would revive bearishness for resumption of downtrend in wave V of (C) for retest of 70.70 in late 2012, break there would extend major (C) leg to 70.00 and later towards 68.00 and possibly towards 66.00. Having said that, downside should be limited to 64.46 (50% projection of 121.02-70.70 measuring from 89.62), bring major correction later.

If resistance at 88.70 is penetrated, this would put our alternate count as our preferred count which treated the entire (C) leg has ended at 70.70 and test of key resistance at 89.62 (A leg top) would follow but only a monthly close above there would suggest the rise from 70.70 to 89.62 as the wave 1, followed by a-b-c wave 2 at 72.70 and wave 3 shall keep price firm for test of resistance at 92.63, break would encourage for headway to 94.00 and then 95.00.

Alrighty....new high reached but its not in my comfort zone so I will pass...I need some more up action

Good one. Actually strengthens my opnion about becoming months.

Do You See Resistance at 1.2813 ? My High is 1.28074.

Europe is up this morning and no news coming from the USA today. Risk is on as Oil is up and Equities is up. Dow Futures are up 100 and Gold is at $1627 US...

Positive tone so far and that asks the question where is FIRST serious Resistance on the Upside ? Thoughts ?

Since there is no significant news coming out that I know of? Does anyone have a proven ADR indicator that gives accurate results? I don't want the indicator I just want to know what peoples ADR's say

http://www.johnmauldin.com/images/up.../mwo010912.pdf

Snippet:

As my good friend Gary Shilling says, in leading off his piece on 2012 investment themes, which is this week’s OTB, “This year is just the first step in the long-run journey that will continue to be dominated by The Age of Deleveraging” – which also just happens to be the title of Gary’s
latest book. Whether you call it that or call it the End Game, as I have, it shapes up as a profoundly different and challenging era for all of us. Gary identifies 9 causes of slow global growth in the years ahead:

1. U.S. consumers will shift from a 25-year borrowing-and-spending binge to a saving spree. This will spread abroad as American consumers curtail the imports of the goods and services many foreign nations depend on for economic growth.

2. Financial deleveraging will reverse the trend that financed much global growth in recent years.

3. Increased government regulation and involvement in major economies will stifle innovation and reduce efficiency.

4. Low commodity prices will limit spending by commodity-producing lands.

5. Developed countries are moving toward fiscal restraint.

6. Rising protectionism will slow

—even eliminate—global growth.

7. The housing market will be weak due to excess inventories and loss of investment appeal.

8. Deflation will curtail spending as buyers anticipate lower prices.

9. State and local governments will contract.

Gary has always been prescient in looking ahead – witness his call nearly a year ahead of the Great Housing Debacle that commenced in ’07 – but you don’t just want to know what’s coming, you want to know what to do about it; and that’s exactly what Gary is going to run down for you, sector by sector and asset by asset, in the following pages.

ADX (Avg Directional Index 14,9)
ADXR (14,9) The ADXR takes the ADX value of a bar and averages it with the ADX value of a recent, trailing bar.

rekon , he wanted the average daily range btw


cant u just use ATR? or would u like the range from high to low?

...ok ... all bullish though

I think I was talking about average daily range....mines is at 118 pips but can't see how that will be achieved

Tough one.

Since Europe is in this crisis I'd say that every single resistance is serious. But the ones that will hold?

Let's assume this is now uptrend (which is surely not confirmed yet). I'd say closest is 1.30 - not so much technical or fundamental way, but psychologically.

Next ones:1.353 - Novembers turn point (Lets not forget that traders do look history...)

And then 1.41 absolutely holding resistance - no doubt. To get there I'll say lot of money must flow in Euro river... It also needs that Mr Sarkozy and Mrs Merkel stop bouncing their stupid ideas, US economy will face the ugly truth, Draghi presses money button and EU will become a Federation... '

Or something like that.

Before I went To Bed I put on a short at 1.27879 and I got taken out at 1.27706 for 17 PIPS at 2:54 AM.

This mornings pattern was an inverse one where it rose until 2:30 AM and then it reversed on my 15 Minute chart down to 1.27415 until 3:30 AM.

As Europe went Positive it hit a high of 1.2809 and hence I asked about Resistance at 1.2813 and above.

I now Follow the Dow Futures showing up at 96 now and note Strength in Gold at $1628 US Up substantially.

My thinking now is where and when to short EUR/USD as I watch to see if the pattern is try to pass 1.2815 and each time it fails I get more confidence to put a short near 1.2800

The KEY is where does Dow Futures go before the US open at 9:30 AM ?

Will US Retail trader's push it higher ?