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  • #591,601
  • Feb 3, 2012 3:12pm Feb 3, 2012 3:12pm
Dow closed above the most recent high of 12757 to settle at the new high of 12862.

We are within striking distance of that May 2011 high upon climbing into new high ground today



Quoting todstars2
keeping an eye on the Dow.

Today's high is 12869.

We are challenging the high for May 2011 at 12876

Just broke up out of a daily ascending triangle a few days ago.

Of course we need to retest that support a time or two at 12734.

EUR tends to track the DOW in recent history.

Some price action worth considering in the equation I think.
  • #591,602
  • Feb 3, 2012 3:31pm Feb 3, 2012 3:31pm
flat and ready for a new week
When life gives you lemons, make lemonade
  • #591,603
  • Feb 3, 2012 3:54pm Feb 3, 2012 3:54pm
Have a great weekend everyone!
  • #591,604
  • Feb 3, 2012 3:59pm Feb 3, 2012 3:59pm
Quoting Trade2Day
Have a great weekend everyone!
great weekend for everyone too
  • #591,605
  • Feb 3, 2012 4:05pm Feb 3, 2012 4:05pm
Until Sunday....everyone have a great weekend
  • #591,606
  • Feb 3, 2012 4:41pm Feb 3, 2012 4:41pm
ABC reporting: Israel puts global facilities on high alert following warning of rising Iran strike threat.
  • #591,607
  • Feb 3, 2012 8:37pm Feb 3, 2012 8:37pm
Quoting kibescorp
leapardtrader says USD strength will be temporary, and that E/U will break 1.3200 by the end of the trading day.

Hmm ... who to listen to ... leapardtrader or everyone else screaming short?

Tough one.

Well, it looks like leopardtrader was partially right at least. USD strength was indeed temporary and was reversed by the end of the trading day.

I now officially believe that risk is on for at least a while longer.




Quoting PipMaxzz
May I know the reason for this statement?
Because I figured EUR/JPY would rise following the NFP release. And was right, apparently.
  • #591,608
  • Feb 3, 2012 9:03pm Feb 3, 2012 9:03pm
Just a quick message to those that still may remember me.

Been a very long time since I posted here, i hope everything is going as you best wished.

My absence has been, and it will last as long as the markets dictate so, due to the great uncertanty in this pair. I opted to leave this business and focus on other areas while this market volatility remains. This means i am still active in the markets, but not in this one.

I do however care for several users that have been both my godfathers and my executors in this forum, from both i've learnt a lot and I do appreciate what they've done for me.

That said, I whish you all an healthy and profitable 2012, but i need to enphatize the health part. God bless you all.
Traders are smartasses
  • #591,609
  • Feb 3, 2012 10:40pm Feb 3, 2012 10:40pm
Quoting Cruci
anyone know a good forex book, that explains trading the news or a good book overall?
I could suggest you a book which concentrates on PA. Having said that, i can assure you can apply in whichever market you trade. Even i haven't read completely. Have just started with it. It was suggested to me by a couple of FF buddies who i believe are best among the traders in FF. So you can have a look if you wish.

"Read PRICE CHARTS bar by bar" by AL BROOKS.

Best wishes buddy
  • #591,610
  • Feb 3, 2012 10:44pm Feb 3, 2012 10:44pm
Quoting Cruci
anyone know a good forex book, that explains trading the news or a good book overall?
Follow any of the link:

http://softarchive.net/blogs/kimth2/...der.67808.html

http://www.filestube.com/r/reading+p...rts+bar+by+bar

https://rs155tl6.rapidshare.com/#!do...8297FE6888|0|0
  • #591,611
  • Feb 3, 2012 10:46pm Feb 3, 2012 10:46pm
Quoting Spsantos
Just a quick message to those that still may remember me.

Been a very long time since I posted here, i hope everything is going as you best wished.

My absence has been, and it will last as long as the markets dictate so, due to the great uncertanty in this pair. I opted to leave this business and focus on other areas while this market volatility remains. This means i am still active in the markets, but not in this one.

I do however care for several users that have been both my godfathers and my executors in this forum, from both i've learnt...
You may not imagin how glad I am to see your this post. I do remember you and think of you almost every day.

"Spsantos" and "Stewartr" are two names on this forum that deserve much more respect then they got from all but especially from me because they are my teachers.
The Thief of Wall Street
  • #591,612
  • Feb 3, 2012 11:48pm Feb 3, 2012 11:48pm
Eu predict by next weeks. weekly and montly chart have strong reverse signal, and in daily chart very choppy market. in my mind set, next weeks in eur/usd i only will do long.

Attached Image (click to enlarge)
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  • #591,613
  • Feb 4, 2012 12:39am Feb 4, 2012 12:39am
In the weekly chart, this week candle is a spinning top which represents indecision. From the daily chart, the current support level is 78.62 and the current resistance level is 79.57. Both levels are derived from master candle pattern. Our concern is whether USDX will continue to be bearish or reverse to north. Honestly, as of now, I don’t see solid technical indication for this, even if USD has sound NFP and employment rate. I think we have to wait for next week.


http://lcchong.files.wordpress.com/2...ng?w=837&h=379


http://lcchong.files.wordpress.com/2...ng?w=837&h=380
  • #591,614
  • Feb 4, 2012 1:32am Feb 4, 2012 1:32am
Decisions decisions.....

All indies on the longer time frames are showing a deep oversold position....

Price will move .....

DOWN however...next week......

Feel bad for the folks who are basing a decision to go long......or who just went long.......
In Charts We Trust!
  • #591,615
  • Feb 4, 2012 1:32am Feb 4, 2012 1:32am
view on euro after nfp data...
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Bismillah
  • #591,616
  • Feb 4, 2012 2:41am Feb 4, 2012 2:41am
Quoting X.Oden
Decisions decisions.....

All indies on the longer time frames are showing a deep oversold position....

Price will move .....

DOWN however...next week......

Feel bad for the folks who are basing a decision to go long......or who just went long.......
seems you have been trading since 4/5 years, if the market is oversold it doesn't mean it has to break the previous low,instead it can take a deep breath & continue to find higher value.
  • #591,617
  • Feb 4, 2012 4:03am Feb 4, 2012 4:03am
Breakout of the range between 1.3000 and 1.3233 is need in order to gain a near term directional bias. Major event risk coming next week could see a break of the consolidation.
  • #591,618
  • Feb 4, 2012 5:01am Feb 4, 2012 5:01am
Maybe yes maybe no..

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  • #591,619
  • Feb 4, 2012 5:11am Feb 4, 2012 5:11am
Quoting fxprocessor
Breakout of the range between 1.3000 and 1.3233 is need in order to gain a near term directional bias. Major event risk coming next week could see a break of the consolidation.
They'll probably find a solution to Greek problems and then we're headed up to the 1.35/37 level, short term.
  • #591,620
  • Feb 4, 2012 6:35am Feb 4, 2012 6:35am
looking for a bullish breakout and continuance this week
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