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  • #587,801
  • Jan 24, 2012 7:43pm Jan 24, 2012 7:43pm
Quoting micho
funny how everybody here wants to sell, nobody here is buying... yet the price is going up...
any idea how prices goes up and down? how many billion/million trigger a pip move?
  • #587,802
  • Jan 24, 2012 7:45pm Jan 24, 2012 7:45pm
Quoting spillini
Could this be the top right here. It could be.
averaging losing trade is not a good trading strategy , hope you have good money management skill , otherwise take safe exit
Mohan
  • #587,803
  • Jan 24, 2012 7:45pm Jan 24, 2012 7:45pm
Quoting Leunammj
any idea how prices goes up and down? how many billion/million trigger a pip move?
Azumi spent 20 billion USD to move USD/JPY about 300 pips.......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #587,804
  • Jan 24, 2012 7:48pm Jan 24, 2012 7:48pm
Thats right hoping for good pips tonight on the open....
Things you should know.
  • #587,805
  • Jan 24, 2012 7:48pm Jan 24, 2012 7:48pm
sensed a big fall coming? i don't understand what's the overvalue of eur at this point of time. All indices are pushed so high up, as if its going for a big tumble.
  • #587,806
  • Jan 24, 2012 7:53pm Jan 24, 2012 7:53pm
Quoting Leunammj
sensed a big fall coming? i don't understand what's the overvalue of eur at this point of time. All indices are pushed so high up, as if its going for a big tumble.
Lack of demand can make its value plummet as profit taking, then panic sets in.
  • #587,807
  • Jan 24, 2012 7:55pm Jan 24, 2012 7:55pm
People Check these Charts, and let me know if am wrong...

1- 4 Hour Chart
2 - Daily Chart
3 - Weekly Chart

Euro has broken the downtrend, now it rallied and made a high, now it is carving out a higher low on daily charts, but it is important to take out previous daily high at 1.3070, to continue upward movement.

This trend should continue till 1.37XX , to form a daily correction rally A-B-C
so that it forms a Weekly - wave 2 around 1.37xx, then head down towards
1.1200 area..i know it is too far away, but it will help us understand 4H and daily waves and price points.

Everyone is welcome to comment and correct me..
Attached Image(s) (click to enlarge)
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PPP - Patience Pays PIPS
  • #587,808
  • Jan 24, 2012 7:57pm Jan 24, 2012 7:57pm
Quoting realjumper
Not everybody
yes more peoples are in sell
  • #587,809
  • Jan 24, 2012 7:58pm Jan 24, 2012 7:58pm
As opposed to a lot of people in this forum, Im not afraid to say that I have lost my share of trades, however, I win 70% of them. I have one more sell level at 3100, otherwise we go from here. Stop is at 3250 and scaling in is my game using the daily......and, please dont worry about me, I will be fine. I am an aggressive trader with plenty of spare cash to ride the waves.

Quoting mohan76
averaging losing trade is not a good trading strategy , hope you have good money management skill , otherwise take safe exit
Please do not vouch for me.
  • #587,810
  • Jan 24, 2012 7:58pm Jan 24, 2012 7:58pm
Quoting micho
funny how everybody here wants to sell, nobody here is buying... yet the price is going up...
No selling for me either, yet that is. Waiting to see if we hear something hawkish from the fed tomorrow. If not, I have a buy waiting to ride it up til we hit the next major resistance at 1.3193.
  • #587,811
  • Jan 24, 2012 8:09pm Jan 24, 2012 8:09pm
Quoting rustyram
People Check these Charts, and let me know if am wrong...

1- 4 Hour Chart
2 - Daily Chart
3 - Weekly Chart

Euro has broken the downtrend, now it rallied and made a high, now it is carving out a higher low on daily charts, but it is important to take out previous daily high at 1.3070, to continue upward movement.

This trend should continue till 1.37XX , to form a daily correction rally A-B-C
so that it forms a Weekly - wave 2 around 1.37xx, then head down towards
1.1200 area..i know it is too far away, but it will help us understand...
very good analysis.....having a written plan is most important in forex world
Trade responsiblypatience is the key/Swing trader
  • #587,812
  • Jan 24, 2012 8:09pm Jan 24, 2012 8:09pm
i went short at 1.03225 and prices have just been stagnant, im hoping a 50 pip stoploss would save me from any spikes before the market goes back down
  • #587,813
  • Jan 24, 2012 8:09pm Jan 24, 2012 8:09pm
Quoting Decsnmkr
No selling for me either, yet that is. Waiting to see if we hear something hawkish from the fed tomorrow. If not, I have a buy waiting to ride it up til we hit the next major resistance at 1.3193.
technically price is going nowhere at this time

it's about a 30 pip range from 1.3046 to 1.30147

the targets remain the same, 1.3050 and above shows bullish continuation breaking 1.2960 is back to impulse wave south.

so far the best bet is to play the perceived range sell only at 1.3040's buy at 1.3010's
AVT INVENIAM VIAM AVT FACIAM
  • #587,814
  • Jan 24, 2012 8:15pm Jan 24, 2012 8:15pm
Looking at the action so far this week, we initially made a higher high (HrH) (compared to the high of last week), and then price continued to form a higher low (HrL), and then another HrH (@ 1.3063, so far, the weekly high), albeit one that was very short lived. PA this morning brought us a lower low (LrL) at 1.2954, and price has been rising ever since.

What is most interesting to me at this point is whether the apex of this current run-up (to 1.3047) is, in fact, a lower high (LrH), or merely the first leg of a trip to a new high (beyond the 1.3063 mark left last night).

At this very moment, PA action seems to be suggesting, quite tentatively, a move lower. But it would not take much for buyers to keep the train rolling north at this juncture.

Any thoughts?
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Student of the Markets
  • #587,815
  • Jan 24, 2012 8:34pm Jan 24, 2012 8:34pm
Attached Image
May the forex be with you |
  • #587,816
  • Jan 24, 2012 8:44pm Jan 24, 2012 8:44pm
look at it this way, we need to contemplate all possibilities,

there are 3 potential outcomes here

a range back to 1.2970 back up to 1.3050

or you could have bullish continuation above 1.3050
bearish impulse wave at 1.2960

you could enter a position now, attempting to catch a continuation, or
or you could wait for london break out above 1.3050, 60, 80's

or wait to short this at 1.3030's either way do not marry any bias you take recognize when the terrain changes

right now if we are going up a stop at 1.3010 is an ok idea while riding the wave up shorting it now would require at stop at 1.3030 to form a double top and still bearish

so far the floor is arching upwards in a rounded manner suggesting an impulse up

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AVT INVENIAM VIAM AVT FACIAM
  • #587,817
  • Jan 24, 2012 8:53pm Jan 24, 2012 8:53pm
equities and yields are up suggesting a risk on environment with AUD suggesting a continuation

eur/jpy seems to be going down suggesting euro weakness, as well ass USD/CHF, USD/JPY,USD/CAD suggest dollar strength,


there are no clear correlation that can signal where we are going at this point.

but no market sell off after rejection of PSI deal, ECB still reluctant to take a loss on Greek bonds due to that being considered QE technically, right now is a technical loan.

Bernanke is expected to keep feds fund rate low and continue this through 2014 as the US economy picks up traction. I do not believe we will have QE 3 as re election is around the corner, and NFP was higher than expected as well as inflation being slightly above target so no DOVISH actions are expected at least not extremely.

start of an impulse wave down is not out of the question however, as yesterday showed diminishing bullish pressure despite coming back above open. so yes a double top or even head and shoulder pattern can be seen but it all would be moot above 1.3050....just my opinion.
AVT INVENIAM VIAM AVT FACIAM
  • #587,818
  • Jan 24, 2012 9:04pm Jan 24, 2012 9:04pm
so is this puppy about to drop it's guts for 30 odd pips, or what?
"We demand rigidly defined areas of doubt and uncertainty." - Douglas Adams
  • #587,819
  • Jan 24, 2012 9:07pm Jan 24, 2012 9:07pm
Quoting VanDemon
so is this puppy about to drop it's guts for 30 odd pips, or what?
possible but usual Asian range is not such, i wouldn't expect Asia to bring it down to 1.2990 as you suggest but in reality we all play a guessing game and no one ever knows for sure
AVT INVENIAM VIAM AVT FACIAM
  • #587,820
  • Jan 24, 2012 9:11pm Jan 24, 2012 9:11pm
Quoting the redlion
possible but usual Asian range is not such, i wouldn't expect Asia to bring it down to 1.2990 as you suggest but in reality we all play a guessing game and no one ever knows for sure
aint that the truth.

it's boring as fuck tho. might go watch some cricket.
"We demand rigidly defined areas of doubt and uncertainty." - Douglas Adams
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