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  • #10,101
  • Jan 25, 2012 12:31pm Jan 25, 2012 12:31pm
Well done Prashant.

I did my money this morning on the down move. been on the sidelines since, waiting for a good position to reload short...
seems like I should have considered longs pass 1.305


Quoting prashant7
1.3145 possible for today '''''''''''' strong buying and great candle closes ''''''''' really pleasure to be on the buying side ......
  • #10,102
  • Jan 25, 2012 12:34pm Jan 25, 2012 12:34pm
Quoting Kambooj
I was right about the trend earlier:
http://www.forexfactory.com/showthre...01#post5325701
But wrong about the entry position.
Anyhow I see it towards the lows of 3200 at the moment
Yes when I look at it now that means we have an uptrend confirmed, indeed a stronger correction in play.

Quoting T@rantula
So when daily ATR has been respected ( as of today ) we can see a retest of lower wedge boundaries then a breakout ( whereas it signals the continuation of the trend) or complete meltdown or a reversal.

Comment after the move:Breakout was confirmed by a thrust thru lower wedge line GMT

The first case is characteristic in a manipulative market conditions

Comment after the move:Shaking out mid term traders , clearly manipulative stop grabbing. They just knew when to play with outside key reversal..
and...
Just quoting myself for the sake of recognizing the move and reacting. It looks like the market was preparing itself as a "calm before the storm: and it really grabbed stops above 3050 preparing for the next target. I will do analysis of higher tfs to see where the targets lie besides 3120. It isnt the final target, this move will probably continue after we close above yesterday's high.
  • #10,103
  • Jan 25, 2012 12:40pm Jan 25, 2012 12:40pm
It extended more than i thought
well...Daily need to go under 1.30 to continue bearish trend
i want 2990 - That 100 pip down from here
Can FOMC Press Conference do that or kill bears?
Soon we will know
  • #10,104
  • Jan 25, 2012 12:41pm Jan 25, 2012 12:41pm
Quoting BrunargarFx
Well done Prashant.

I did my money this morning on the down move. been on the sidelines since, waiting for a good position to reload short...
seems like I should have considered longs pass 1.305
Thanks mate ''' wish you all good trades '' don 't go short today ''
finding A M S
  • #10,105
  • Jan 25, 2012 12:48pm Jan 25, 2012 12:48pm
Thanks
Much more clear now on your point of view.

Quoting T@rantula
Yes when I look at it now that means we have an uptrend confirmed, indeed a stronger correction in play.



Just quoting myself for the sake of recognizing the move and reacting. It looks like the market was preparing itself as a "calm before the storm: and it really grabbed stops above 3050 preparing for the next target. I will do analysis of higher tfs to see where the targets lie besides 3120. It isnt the final target, this move will probably continue after we close above yesterday's high.
  • #10,106
  • Jan 25, 2012 12:49pm Jan 25, 2012 12:49pm
You are welcome. and thanks for your good wishes.

Just waiting for BB Press conference... will he provide a further push up or bring the market down ?
No expectation - just remaining on the sidelines



Quoting prashant7
Thanks mate ''' wish you all good trades '' don 't go short today ''
  • #10,107
  • Jan 25, 2012 1:02pm Jan 25, 2012 1:02pm
Quoting egkid
It extended more than i thought
well...Daily need to go under 1.30 to continue bearish trend
i want 2990 - That 100 pip down from here
Can FOMC Press Conference do that or kill bears?
Soon we will know
If it closes below 3000, good sign for bears, even a close below yesterdays close...
  • #10,108
  • Jan 25, 2012 1:06pm Jan 25, 2012 1:06pm
Quoting T@rantula
If it closes below 3000, good sign for bears, even a close below yesterdays close...
That's my view u know I'm bearish according my chart trend
soon will know
  • #10,109
  • Jan 25, 2012 1:18pm Jan 25, 2012 1:18pm
We may see a bull continuation above 3050
  • #10,110
  • Jan 25, 2012 1:34pm Jan 25, 2012 1:34pm
3066-38.2 fib of the last swing..defo bullish above 3050
  • #10,111
  • Jan 26, 2012 2:11am Jan 26, 2012 2:11am
Here are today's levels and today Major support lies at 3055 which is lowest projected level for London session

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  • #10,112
  • Jan 26, 2012 2:26am Jan 26, 2012 2:26am
When we talk about TREND we assume a series of THRUSTS and PULLBACKS.

This is a typical trend trade. 3144 could be the target for this swing.

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Stops are always placed at BE after scaling out on important levels. Why is FOREX market different from gambling? Because when u gamble lets say you have 50:50 chance to win at its BEST.

In Forex, we stack ODDS and PROBABILITIES. Trendline, Fibs, Price calculations. Those are giving us an advantage over the classical 50:50 rule.

That is how we raise our chances to even 80-20. The biggest problem is EXIT, and that is where our mindset plays the most important role.( im assuming stop loss is always placed).
  • #10,113
  • Jan 26, 2012 2:46am Jan 26, 2012 2:46am
Scaling out pre news is always important. So today is auction of Italian bonds ( 10:15 gmt). We need to bear in mind that we probably wont have MUCH volatility before the auction's results.

So a possible range play till then and that when u scale out + exit on important levels. In above mentioned case 3120 ( natural s/r level) coincides with median point.

In this case 12 pips were secured in the case stop hits BE.

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Trend thrust must go above 3133 else we can have a deeper retracement. Bear in mind italian bond auction 10:15 gmt
  • #10,114
  • Jan 26, 2012 3:04am Jan 26, 2012 3:04am
Notice how eu is trapped in a range...testing bullish and bearish edge in the process. Range play suggest stops for longs are around 3090,so the break of 3090 may initiate a retest of 3055 also suggested by the level table..

Trend will resume after EU breaks 3133.
  • #10,115
  • Jan 26, 2012 3:20am Jan 26, 2012 3:20am
Hey T,
Im with you on the 3140-60ish target for longs - having a heck of a time getting set tho - u probly right on waiting for auction results

These spurts of vol mixed with absolute dead are taking some getting used to ..
  • #10,116
  • Jan 26, 2012 3:24am Jan 26, 2012 3:24am
Quoting pipmyride
Hey T,
Im with you on the 3140-60ish target for longs - having a heck of a time getting set tho - u probly right on waiting for auction results

These spurts of vol mixed with absolute dead are taking some getting used to ..
Heh, volatility is so low, as soon as those results are reviewed I think we will have a momentum surge.
  • #10,117
  • Jan 26, 2012 3:25am Jan 26, 2012 3:25am
Quoting T@rantula
Notice how eu is trapped in a range...testing bullish and bearish edge in the process. Range play suggest stops for longs are around 3090,so the break of 3090 may initiate a retest of 3055 also suggested by the level table..

Trend will resume after EU breaks 3133.
MM..just in at 3114..long.. and out at same same.. just looking at longer time frames.. feels short before long..but we know what feeling it does..index on 30 min trying to go hier..
  • #10,118
  • Jan 26, 2012 3:30am Jan 26, 2012 3:30am
15 and 5 irational confusion....could be a short coming up thou..patience
  • #10,119
  • Jan 26, 2012 3:34am Jan 26, 2012 3:34am
Quoting T@rantula
Heh, volatility is so low, as soon as those results are reviewed I think we will have a momentum surge.
Hi T Just back from a Movie ' in India its a holiday today ( republic day ) ' looking at PA its a range play out there ' hope nothing missed ''''' let me have a clear look at charts ..........


will see your levels and match it with mine ' N decide
finding A M S
  • #10,120
  • Jan 26, 2012 3:40am Jan 26, 2012 3:40am
Quoting T@rantula
Heh, volatility is so low, as soon as those results are reviewed I think we will have a momentum surge.
Nice W 1 2 3 bullish pattern

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