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  • #10,681
  • Feb 6, 2012 6:27pm Feb 6, 2012 6:27pm
Quoting BrunargarFx
I did not make any money with my shorts this morning (because I wasn't behind comp and had my target at 1.30... even managed to lose 28 pips
((((
Trading NFP Mondays are really hard as the price tends to reverse suddenly without prior notice. I have learnt that on myself. I had problems trading NFP Mondays until i made a rule for myself. 08 gmt-10.30 gmt, if i dont make any money by then per intraday trend following strategy I will cease trading until 14.30 gmt. Only 2 positions per Monday allowed, no counter trending. That works for me just fine.

Dont worry mate, together we will make it up very soon .
  • #10,682
  • Feb 6, 2012 6:27pm Feb 6, 2012 6:27pm
Quoting Tyoon
I read somewhere EU has 20 pips moves (or multiples of) and loves the 00, 20, 60 and 80 numbers.
Exactly
  • #10,683
  • Feb 6, 2012 6:29pm Feb 6, 2012 6:29pm
Quoting Kambooj
My median line analysis is herlading a strong reversal to take place. The solid black line will be very difficult to break given the fact that it has held motion very strongly in the past, and it broke recently. its not a easy level to penetrate upwards, and there are more chances that we will be gravitating downwards towards the red line.
Yes current situation support 2980. We will see it tomorrow. We need to be careful as Greece fundies may reverse the price.
  • #10,684
  • Feb 6, 2012 11:45pm Feb 6, 2012 11:45pm
RBA shook the market a bit today, Aussie rally across the board...
Particularly GBP/AUD and EUR/AUD which both once again broke below record lows. Was lucky to catch the 100 pip drop in GBP/AUD while other counter position got stopped out with -30.

Cable has left it's steep upward channel and has consolidated but combined with fundamentals and widely expected expansion of QE program announcement on Thursday, it's set to retest former supply zone below 5760.
Last week's high might have been one to remember for a while.

As for GBP/AUD even tho it's extremely oversold, fresh new lows are still more probable before a reversal.
Attached Image(s) (click to enlarge)
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Don't get mad, get even!
  • #10,685
  • Feb 7, 2012 12:43am Feb 7, 2012 12:43am
Aussie 30 min ..watching this for possible short..
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  • #10,686
  • Feb 7, 2012 12:50am Feb 7, 2012 12:50am
Aussie short now....
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  • #10,687
  • Feb 7, 2012 1:13am Feb 7, 2012 1:13am
^ Why actually and what's your target and where would you give up?
Don't get mad, get even!
  • #10,688
  • Edited 1:40am Feb 7, 2012 1:29am | Edited 1:40am
Thanks T.
I still have 2 long positions opened at 1.306...
d'like to see a break of the upper levels but we need some fundies for that (Greece?)
If no agreement is made, there could be some plunge, but somehow I think the market is expecting a move up... very strong rejections of the 1.30x levels, we are in a consolidation phase, not distribution.

Right now, we r at the UTL of a pennant in an uptrend (1.317), let see if this breaks...


Quoting T@rantula
Trading NFP Mondays are really hard as the price tends to reverse suddenly without prior notice. I have learnt that on myself. I had problems trading NFP Mondays until i made a rule for myself. 08 gmt-10.30 gmt, if i dont make any money by then per intraday trend following strategy I will cease trading until 14.30 gmt. Only 2 positions per Monday allowed, no counter trending. That works for me just fine.

Dont worry mate, together we will make it up very soon .
  • #10,689
  • Feb 7, 2012 1:40am Feb 7, 2012 1:40am
Quoting danc
Aussie short now....
Out minus 17
  • #10,690
  • Feb 7, 2012 1:51am Feb 7, 2012 1:51am
EUR/USD H4 possible bullflag breakout...
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Don't get mad, get even!
  • #10,691
  • Feb 7, 2012 1:54am Feb 7, 2012 1:54am
Quoting stulic
EUR/USD H4 possible bullflag breakout...

MMM.. point taken..
  • #10,692
  • Feb 7, 2012 2:03am Feb 7, 2012 2:03am
If 1.317 was to break we could see 1.33 within the next couple of days.
As a rule of thumb, I use the left side of the pennant (1.3232-1.305 = 182pips) that I add to the breakout line: 1.317 + 182 = 1.3352
Of course we need to break 1.317 first



Quoting BrunargarFx
Thanks T.
I still have 2 long positions opened at 1.306...
d'like to see a break of the upper levels but we need some fundies for that (Greece?)
If no agreement is made, there could be some plunge, but somehow I think the market is expecting a move up... very strong rejections of the 1.30x levels, we are in a consolidation phase, not distribution.

Right now, we r at the UTL of a pennant in an uptrend (1.317), let see if this breaks...
  • #10,693
  • Feb 7, 2012 2:40am Feb 7, 2012 2:40am
Hey guys, today as I said need to be careful due to fundie driven price. As Stulic said there is currently a bullflag and we may have a new high soon.
  • #10,694
  • Feb 7, 2012 2:48am Feb 7, 2012 2:48am
Attached Image


London session projected levels. Bullish continuation only if 3151 becomes a support.3200 is possible then
  • #10,695
  • Feb 7, 2012 2:49am Feb 7, 2012 2:49am
Quoting BrunargarFx
As a rule of thumb, I use the left side of the pennant (1.3232-1.305 = 182pips) that I add to the breakout line: 1.317 + 182 = 1.3352
Exactly, thats how u calculate the target in that case.
  • #10,696
  • Feb 7, 2012 2:54am Feb 7, 2012 2:54am
Quoting stulic
EUR/USD H4 possible bullflag breakout...
Spot on Stulic, also using your chart...Rising 3 methods is bullish continuation pattern.

Attached Image
  • #10,697
  • Feb 7, 2012 3:11am Feb 7, 2012 3:11am
Reaction to 3151 made a retracement. As previously said, continuation only above 3151. Bull flag and rising 3 methods gave an early warning but 3151 is the level to watch.
  • #10,698
  • Feb 7, 2012 3:18am Feb 7, 2012 3:18am
Quoting T@rantula
Spot on Stulic, also using your chart...Rising 3 methods is bullish continuation pattern.

Attachment
Cheers! Lets see if it plays out, could take quite a while tho, on the other side a possible bear flag could be in development in gold, just risking a small position here in case of another sudden cascade down.
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  • #10,699
  • Feb 7, 2012 3:24am Feb 7, 2012 3:24am
Quoting stulic
Cheers! Lets see if it plays out, could take quite a while tho, on the other side a possible bear flag could be in development in gold, just risking a small position here in case of another sudden cascade down.
Good man, lets see how it plays out. Im still waiting for a confirmation of longs on EU but market defo is waiting for Greece talks outcome. Still bullish according to charts.
  • #10,700
  • Feb 7, 2012 3:41am Feb 7, 2012 3:41am
Thanks T.
For the others, this is what I am looking at (Cf. Attachment), in case I wasn't clear. Ideally you can take 1.3030 instead of 1.3050 for the calculation.

Right now we are within a small bullflag on M5. However, if I wasn't in this move since yesterday (1.306) I would only play the breakout (either way) because if you trade within the pennant you are in no man's land.

Hope that helps.

Quoting T@rantula
Exactly, thats how u calculate the target in that case.
Attached File(s)
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