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  • #587,721
  • Jan 24, 2012 4:00pm Jan 24, 2012 4:00pm
I see these rallys and declines between time zones just to reverse later.

It makes a good price action play.


In the old days they called it "Painting the Tape"
  • #587,722
  • Jan 24, 2012 4:01pm Jan 24, 2012 4:01pm
Quoting profedu2001
EUR all the way to 1.31 region, who is with me on this?
Suppose some surprising Fed news could push it there.
However, I'm short at 1.3032 because:
a) MACD Divergence
b) 400+ pip rally into a major Bear Market
c) expectation of Greek Debt agreement already baked into market
d) EU hasn't solved its problems
e) Decreasing likelihood of QE30
f) Major resistance around 1.3060
  • #587,723
  • Jan 24, 2012 4:13pm Jan 24, 2012 4:13pm
Quoting Hookem28
Suppose some surprising Fed news could push it there.
However, I'm short at 1.3032 because:
a) MACD Divergence
b) 400+ pip rally into a major Bear Market
c) expectation of Greek Debt agreement already baked into market
d) EU hasn't solved its problems
e) Decreasing likelihood of QE30
f) Major resistance around 1.3060
a) is the result of c,d,e,f, not an independent reason but a reflection of those.

400 pip has any significant statistical meaning for EU pair?
I am not sure about c).
  • #587,724
  • Jan 24, 2012 4:14pm Jan 24, 2012 4:14pm
Quoting mercy seat
Yes ... or probably you wait for some rates at around 1.2981 (DPP) and around 1.2956 - 1.2944 and buy again there in order to get some better BE ...

Stops then below 1.2897 zone ... for example ...

Or you can sell it and start to sell it from around 1.3030 area ...

1.3070 - 1.3085 or higher is considered as an extention ...

I did mention that before ...

It is only an Elliott method projection ...

But we all do know that Elliott approach is a method that has not a very super high standard in reliability ... not in FOREX ...

It...

Quoting thaer124
thanks for your answer and i think i will close it @ 1.3070 if it reaches.
Yes ... or probably you wait for some rates at around 1.2981 (DPP) and around 1.2956 - 1.2944 and buy again there in order to get some better BE ...

Stops then below 1.2897 zone ... for example ...

Or you can sell it and start to sell it from around 1.3030 area ...

1.3070 - 1.3085 or higher is considered as an extention ...

I did mention that before ...

It is only an Elliott method projection ...

But we all do know that Elliott approach is a method that has not a very super high standard in reliability ... not in FOREX ...

It is up to you ... I for example do not wait for extentions in such cases ...




;-|


This is what we have had for today ...


2012-01-24_00h00 - ZigZag + Pivot Survey _ AUDUSD _ Rollover _ W-04 va


2012-01-24_00h00 - ZigZag + Pivot Survey _ EURUSD _ Rollover _ W-04 va


2012-01-24_00h00 - ZigZag + Pivot Survey _ GBPUSD _ Rollover _ W-04 va





;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #587,725
  • Jan 24, 2012 4:19pm Jan 24, 2012 4:19pm
Quoting sidhujag
as expected last hour S&P bulls are not going to let it finish negative
lol, yep ppt at work again .
  • #587,726
  • Jan 24, 2012 4:21pm Jan 24, 2012 4:21pm
Quoting Hookem28
Suppose some surprising Fed news could push it there.
However, I'm short at 1.3032 because:
a) MACD Divergence
b) 400+ pip rally into a major Bear Market
c) expectation of Greek Debt agreement already baked into market
d) EU hasn't solved its problems
e) Decreasing likelihood of QE30
f) Major resistance around 1.3060
Good rationale, and also RSI div on H4 but at the same time I would not be surprised of a test towards 312x.

Someone said yesterday elsewhere, too high to buy, too low to sell (h4, d1)
  • #587,727
  • Jan 24, 2012 4:36pm Jan 24, 2012 4:36pm
Quoting todstars2
Over night will probably tell.


What goes up, must come down.
Vice versa. What went down must come up.
  • #587,728
  • Jan 24, 2012 4:44pm Jan 24, 2012 4:44pm
Quoting pkimnyc
Vice versa. What went down must come up.
BUT we conducive to such a scenario?
Let us be green
  • #587,729
  • Jan 24, 2012 4:44pm Jan 24, 2012 4:44pm
Quoting aripplet
a) is the result of c,d,e,f, not an independent reason but a reflection of those.

400 pip has any significant statistical meaning for EU pair?
I am not sure about c).
I mention the 400+ pip move to point out that it's had a nice move into a bear market. Many bears are on the sideline waiting for the next leg down. There hasn't been significant resistance since it broke 1.2880. The EURO tried to close above 1.3070 from Dec. 14-Jan. 4 dropping to 1.2630. There are most likely orders around that zone, which makes me believe that there will be AT LEAST a retrace before the Euro can break through.
The reason for my short at 1.3032 are the two 1-Hour bearish engulfing candles around that price. Would not be surprised though if it rallies another 20-30 pips though.
  • #587,730
  • Jan 24, 2012 4:48pm Jan 24, 2012 4:48pm
Quoting leafarct
BUT we conducive to such a scenario?
1hrs been trending up. While daily has been trending down, think about how much we've dropped. Funny thing about scenario.... How do you make money with that? Big question, imo.
  • #587,731
  • Jan 24, 2012 4:54pm Jan 24, 2012 4:54pm
Quoting pkimnyc
1hrs been trending up. While daily has been trending down, think about how much we've dropped. Funny thing about scenario.... How do you make money with that? Big question, imo.
you're right. scenario is a fundamentalist viewpoint
Let us be green
  • #587,732
  • Jan 24, 2012 4:54pm Jan 24, 2012 4:54pm
Quoting infinitus
If someone is interested in trading USDJPY

monthly count


limited downside (maybe 700 pips), huge upside (3000-5000 pips) long term
3000 wow !!
  • #587,733
  • Jan 24, 2012 4:55pm Jan 24, 2012 4:55pm
now seeing, as we receive "indication" in FF?
Let us be green
  • #587,734
  • Jan 24, 2012 5:03pm Jan 24, 2012 5:03pm
Quoting the redlion
which makes this situation unsustainable.

you see what the ECB is doing is clever QE, they take gov paper as collateral and in turn give needed liquidity to the banking sector this does two things

1- it creates fake demand for gov debt and soaks up the bonds.
2- it injects needed liquidity to the banks

however the situation in Greece is dire and key for PSI, as they tip toe around preventing the trigger of CDS, to prevent contagion they will dry up demand for private demand for gov paper. Now once the banks meet liquidity requirements...
The thing is the markets are now focused on the short terms wait until the focus go to the long terms if they do but anayway i see this eu go to 1.44 by spring but whe will see but i like to think the opposite of the 95% here, Not in a straight line do but aah deep sell off would be for me a great buying opportunity Overlay the fed balance sheet with the eur/usd yesterday i posted a vid in the eur anaylis thread look some post back, I think the selloff after the downgrade was great buying that why i started buyin on the 14th of jan and i think the europe is cheap at the moment but i am not investor so not intrested in buying it but if you have balls you buy european banks same scenario like in 2008 some people who did the same back then have made huge returns. So far imo whe not gonna collapse what everybody hopes for in 2012 but things can change but thats how i see it it will come when the most are unprepared maybe china the propierty bubble will have effect at some point on there gdp http://chovanec.wordpress.com/ here some reading if you like so whe will see how whe gonna do but right now most retail is getting bullish on stocks particulair us so some nice selloff (corection) would be nice also will make the retail trader bearish again and pray for there crash but it will be a buy opportunity imo.
  • #587,735
  • Jan 24, 2012 5:13pm Jan 24, 2012 5:13pm
Touche

Quoting pkimnyc
Vice versa. What went down must come up.
  • #587,736
  • Jan 24, 2012 5:20pm Jan 24, 2012 5:20pm
I tried to log in on my iPad. Turns out it was an Etch A Sketch and I don't even own an iPad.

Also, I'm out of vodka.
  • #587,737
  • Jan 24, 2012 5:25pm Jan 24, 2012 5:25pm
Quoting CorBlimeyGuv
I tried to log in on my iPad. Turns out it was an Etch A Sketch and I don't even own an iPad.

Also, I'm out of vodka.
  • #587,738
  • Jan 24, 2012 5:32pm Jan 24, 2012 5:32pm
Good day to all! I look to sell in the blue box,@ market gap spike has left seller there and good r/r..GL!
Attached Image (click to enlarge)
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  • #587,739
  • Jan 24, 2012 5:42pm Jan 24, 2012 5:42pm
Quoting CorBlimeyGuv
I tried to log in on my iPad. Turns out it was an Etch A Sketch and I don't even own an iPad.

Also, I'm out of vodka.

That's some funny shit!
"We demand rigidly defined areas of doubt and uncertainty." - Douglas Adams
  • #587,740
  • Jan 24, 2012 5:46pm Jan 24, 2012 5:46pm
Quoting Chillypiper
Good day to all! I look to sell in the blue box,@ market gap spike has left seller there and good r/r..GL!
Yup usual buy january could be near peaking, cable too, very glad is holiday time could be back to work shortly for me and my bears
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