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EURUSD

  • #583,481
  • Jan 12, 2012 11:11pm Jan 12, 2012 11:11pm
My lines for today.
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  • #583,482
  • Jan 12, 2012 11:11pm Jan 12, 2012 11:11pm
Quoting Nachiket
are u long at the moment then?

No short
  • #583,483
  • Jan 12, 2012 11:15pm Jan 12, 2012 11:15pm
"[...] Asian traders linked the afternoon push up to $1.2879
on reaction to a Les Echos story that a Greek debt accord may be reached
by end of next week, adding that a Greek debt restructuring agreement is
close. Stops were triggered on the move through the key $1.2858 level
(2011 low) which took rate to mentioned highs. Offers are seen placed
into $1.2880, with one trader reporting further interest every 5-10 pips
higher, another highlighting the $1.2900/10 area, adding that they see
the $1.2945 level as next interesting level. Support now seen back toward
$1.2850, more at $1.2825/20. Long weekend in the US could prompt more
short covering into the afternoon."
  • #583,484
  • Jan 12, 2012 11:20pm Jan 12, 2012 11:20pm
our first taget 0.50lvl done..then 61.8 please
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Bismillah
  • #583,485
  • Jan 12, 2012 11:29pm Jan 12, 2012 11:29pm
Closing shorts for now @66
  • #583,486
  • Jan 12, 2012 11:32pm Jan 12, 2012 11:32pm
Hourly close above 65 threatens the short-term short bias on my charts.
  • #583,487
  • Jan 12, 2012 11:33pm Jan 12, 2012 11:33pm
hi
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  • #583,488
  • Edited 11:48pm Jan 12, 2012 11:34pm | Edited 11:48pm
closed all shorts. looking better entry. waiting for hour close
looking for investors . pm me
  • #583,489
  • Jan 12, 2012 11:39pm Jan 12, 2012 11:39pm
No reason for shorts. Hourly, 4hr, and now daily are all bullish.
  • #583,490
  • Jan 12, 2012 11:42pm Jan 12, 2012 11:42pm
Quoting Brandon
No reason for shorts. Hourly, 4hr, and now daily are all bullish.

why would you say that... the daily chart is still in a down trend

it has not taken out the upper TL or made a new high so it is definately bearish
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  • #583,491
  • Jan 12, 2012 11:44pm Jan 12, 2012 11:44pm
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  • #583,492
  • Jan 12, 2012 11:49pm Jan 12, 2012 11:49pm
Quoting MaxDoom
why would you say that... the daily chart is still in a down trend

it has not taken out the upper TL or made a new high so it is definately bearish
Well we each have our different systems but daily MACD has now crossed to bullish and daily price is now above my MA and contesting my 2nd MA which is more of a resistance. A break of this MA will lead to the breakout of the daily downtrend channel we have been in.

Yes, in our daily TF we are still in downtrend channel but as of current market price we only have 20 more pips to go before downtrend channel is broken. Furthermore, 4hr TF is double bottom pattern which means we should expect up to 1.292x at least. A break of the downtrend channel will fully have turned daily chart to bullish and will provide further push to the upside.
  • #583,493
  • Jan 12, 2012 11:51pm Jan 12, 2012 11:51pm
Agree with MaxD.

Approaching top of the daily downward channel (Trend is still down) - I'll take a short for a 80 pip retrace here at 1.2880. will only look for longs once she has clearly broken above the channel!
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May the forex be with you |
  • #583,494
  • Jan 12, 2012 11:52pm Jan 12, 2012 11:52pm
Unclear. sleep time.
  • #583,495
  • Jan 12, 2012 11:55pm Jan 12, 2012 11:55pm
"EURUSD Gets squeezed back toward $1.2860 as traders react to reports that the offer at $1.2880 was showing E300mln in size on EBS. Asian sovereign said to have eased rate back below $1.2870, with a couple of macro funds seen fading the early rally."
  • #583,496
  • Jan 12, 2012 11:55pm Jan 12, 2012 11:55pm
Well I have a long from 1.2717 from last night so I will hold my long until Weekly PP is broken.

Weekly PP currently serves as support.

Right now at current market price we are at a pretty strong resistance. The downtrend channel being some resistance and also daily r1, the contesting of my MA and also 50% fib extension being hit.

Going short would make sense right now due to the R:R. We have 20 more pips before breakout of channel so a SL of 30-40 pips would be a good trade. However, since I do have a long from 1.2717 I will continue to hold and see if the DB will continue or fail. Like I said, a break of weekly PP and I will close my trade.
  • #583,497
  • Jan 12, 2012 11:57pm Jan 12, 2012 11:57pm
Quoting Brandon
Well we each have our different systems but daily MACD has now crossed to bullish and daily price is now above my MA and contesting my 2nd MA which is more of a resistance. A break of this MA will lead to the breakout of the daily downtrend channel we have been in.

Yes, in our daily TF we are still in downtrend channel but as of current market price we only have 20 more pips to go before downtrend channel is broken. Furthermore, 4hr TF is double bottom pattern which means we should expect up to 1.292x at least. A break of the downtrend channel...
well chap I can see where you are coming from but I would add...

Oscillators give lots of crosses up and down even in a trend and especially in a correction phase but that does not mean the trend is so

Even if the upper TL breaks it still does not make it a bullish trend. Definition of a trend is higher highs or lower lows, so whilst there maybe potential for the daily chart to be bullish it is not at moment.

Now the 4hr and below is different that is definately making a new high but it is still inside the bear channel so could go either way yet.


anyway just trying to help mate
  • #583,498
  • Jan 13, 2012 12:00am Jan 13, 2012 12:00am
Quoting Brandon
Well I have a long from 1.2717 from last night so I will hold my long until Weekly PP is broken. .

and that is a nice trade right there
  • #583,499
  • Jan 13, 2012 12:01am Jan 13, 2012 12:01am
That long term downward channel, as you can see, the UTL meets with today's R2 almost perfectly. Should E/U reach R2, I will short it to oblivion.
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  • #583,500
  • Jan 13, 2012 12:02am Jan 13, 2012 12:02am
Quoting snprr
I'm short from 1.2176 sl: 1.2265. I took the position Friday
morning around 8AM EST. I wanted to trail the stop, but
fell asleep because of whacky sleeping patterns last week.
Luckily price didnt suddenly reverse on me through my stop
again. I'm thinking about moving the s/l asap to 1.2170, about
breakeven. I'll cover on another bounce around 1.1205 area,
but I'd like to leave the trade open and hopefully make some
decent gains on a break below 1.2060 area. I wish I wouldve
gotten in earlier, but have been focusing on the GBPUSD and
USDCHF lately.

Is...
nice trade .....
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