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EURUSD

  • #596,241
  • Feb 16, 2012 5:21pm Feb 16, 2012 5:21pm
Now: 1.313
1.325-6
1.311
1.333-5
  • #596,242
  • Feb 16, 2012 5:23pm Feb 16, 2012 5:23pm
Quoting rustyram
Only yesterday, 1.3030 low was taken out and market made a new low.

So far today, yes we had a good rally, but that is not enough to be bullish.
The market still did not take out the previous low high on the 1h charts, which is at 1.3185, so this means it is still bearish.

If it makes a high higher than 1.3185, then i will turn bullish.

We have to wait and see....

BTW, My target 1.2980 is 1H 1.618 of the of the down move in 1H charts, and that alligns with daily retracement levels.

We will have to wait and see, if EUR takes out 1.3185...
ok... so you think that between tomorrow and monday this market will print two bearish daily candles after it made a sharp v-type reversal and closed above two significant d1 levels 3025 and 3080? and you want to get bullish at the top of the market at 3185 and bearish at the bottom at 2975? think about it...this is simply not going to work...
  • #596,243
  • Feb 16, 2012 5:25pm Feb 16, 2012 5:25pm
Quoting rustyram
Only yesterday, 1.3030 low was taken out and market made a new low.

So far today, yes we had a good rally, but that is not enough to be bullish.
The market still did not take out the previous low high on the 1h charts, which is at 1.3185, so this means it is still bearish.

If it makes a high higher than 1.3185, then i will turn bullish.

We have to wait and see....

BTW, My target 1.2980 is 1H 1.618 of the of the down move in 1H charts, and that alligns with daily retracement levels.

We will have to wait and see, if EUR takes out 1.3185 or 1.2975.....

Because...
Weekly "order balance" is at 1.3128. Pair came from bottom above 50% in one day.

Asia gets good news, debt swap deal. I am 100% that equities rally on good news through Asia session. Greece was main reason they shorted pair few sessions ago.

Only thing i wonder is how deep stop hunting goes if it goes downside.
They think they are smarter than I am.
  • #596,244
  • Feb 16, 2012 5:27pm Feb 16, 2012 5:27pm
Quoting betteridea
Entry 1.3150 area .... SL 1.3230 area .... Target 1.3055 area .... RR 1.2

1.297 may be the bottom of the current corrective down move or the pullback of the previous daily up trend swing from 1.26

Price may move higher fast because Feb 20 is likely day the minister's agree on bailout terms and release.

First support area of 1.3100 seem too little of a retracement but price may goes sideways between 1.3100 - 1.3150 or thereabouts. It is Friday and everyone waiting for Greece.

1.3110 is a good price to put stop @ BE. Don't hold over weekend....
Jawoll ...

Beautiful ...

See you tomorrow ...





;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #596,245
  • Edited 6:07pm Feb 16, 2012 5:28pm | Edited 6:07pm
I think cammomile is trying to tell you that price is feeling like it is ready to turn to the upside, the gut feeling of someone with thousands of hours of chart experience.

Price taking out 1.297 then blasting higher would be odd - especially after seeing last night's crazy long shake out - and trapping all the shorts with a nuke - this action usually happens at major turning points.

But the real test is price bouncing from 1.31-1.305 area and taking out today's high.




Quoting rustyram
Only yesterday, 1.3030 low was taken out and market made a new low.

So far today, yes we had a good rally, but that is not enough to be bullish.
The market still did not take out the previous low high on the 1h charts, which is at 1.3185, so this means it is still bearish.

If it makes a high higher than 1.3185, then i will turn bullish.

We have to wait and see....

BTW, My target 1.2980 is 1H 1.618 of the of the down move in 1H charts, and that alligns with daily retracement levels.

We will have to wait and see, if EUR takes out 1.3185...
  • #596,246
  • Feb 16, 2012 5:31pm Feb 16, 2012 5:31pm
Quoting onlyfortrade
Hi, I m using ajpivots indicator to find out support and resistance, but it works with h1 chart only, if you have any indicator which works with D1 chart as well, Please let me know or please mention the name. I am very new in this world and I am really hoping help from the experience traders like you.

Thanks
Unfortunately, i am not using pivots anymore. I used like 3 years ago and it was too much micromanaging and regular drawing for me.

Use daily, weekly and monthly closes and intraday session closes. Always use GMT time. Should be enough
They think they are smarter than I am.
  • #596,247
  • Feb 16, 2012 5:33pm Feb 16, 2012 5:33pm
Quoting Z3iz3i
Unfortunately, i am not using pivots anymore. I used like 3 years ago and it was too much micromanaging and regular drawing for me.

Use daily, weekly and monthly closes and intraday session closes. Always use GMT time. Should be enough
Thanks a lot bro
  • #596,248
  • Feb 16, 2012 5:37pm Feb 16, 2012 5:37pm
Quoting onlyfortrade
Hi, I m using ajpivots indicator to find out support and resistance, but it works with h1 chart only, if you have any indicator which works with D1 chart as well, Please let me know or please mention the name. I am very new in this world and I am really hoping help from the experience traders like you.

Thanks
Not sure your platform, but you probably want the common daily and weekly pivots, there's monthly as well. I'm using Thinkorswim and I can plot the daily and weekly pivots on as low as the 1m timeframe.

They do seem important to me, such as waiting to enter until price has touched a pivot. This will happen more often than not, but there are times price reverses just above or below a pivot, which seems like people getting the jump on others lol.

For instance, the last high was price touching the R1 daily of yesterday.

I am unsure what will happen here, but look, if price retests that pivot why not just keep going a bit higher to 3180, the weekly main pivot? And then if it does that the last hourly high is right there as well as the R1 at 3200?

So I'm keeping my short to at least 1.3088. If it gets taken out I think price is going to 3200.
  • #596,249
  • Feb 16, 2012 5:39pm Feb 16, 2012 5:39pm
Quoting Fx93
Not sure your platform, but you probably want the common daily and weekly pivots, there's monthly as well. I'm using Thinkorswim and I can plot the daily and weekly pivots on as low as the 1m timeframe.

They do seem important to me, such as waiting to enter until price has touched a pivot. This will happen more often than not, but there are times price reverses just above or below a pivot, which seems like people getting the jump on others lol.

For instance, the last high was price touching the R1 daily of yesterday.

I am unsure what will happen...

At preset it's just above 1.3120 so I think break 1.3120 would change the up trend.
  • #596,250
  • Feb 16, 2012 5:41pm Feb 16, 2012 5:41pm
Quoting betteridea
I think cammomile is trying to tell you that price is feeling like it is ready to turn to the upside, the gut feeling of someone with thousands of hours of chart experience.

Price taking out 1.297 then blasting higher would be odd - especially after seeing last night's crazy long shake out - and trapping all the shorts with a nuke - this action usually happens at major turning points.

But the real test is price bouncing from 1.31-1.315 area and taking out today's high.
thank you, betteridea.
  • #596,251
  • Feb 16, 2012 6:11pm Feb 16, 2012 6:11pm
It is shocking to read those articles for example from forexlive.com

Those are based on different "analyst" views and bank recommendations.
They are just ultimate crap. Only things that missing are exact timing and 100% trade-safe-quarantee.

I hope none do trade decions based on those.
They think they are smarter than I am.
  • #596,252
  • Feb 16, 2012 6:31pm Feb 16, 2012 6:31pm
Quoting pipsar
US500 overbought, must go down, so EU too
Theres no such thing as "must" in trading.
  • #596,253
  • Feb 16, 2012 6:31pm Feb 16, 2012 6:31pm
EURUSD 50% retrace level was a great entry today. Nice 4 hour bullish engulfing candle gave a price action entry after the initial bounce.
  • #596,254
  • Feb 16, 2012 6:35pm Feb 16, 2012 6:35pm
Quoting Z3iz3i
It is shocking to read those articles for example from forexlive.com

Those are based on different "analyst" views and bank recommendations.
They are just ultimate crap. Only things that missing are exact timing and 100% trade-safe-quarantee.

I hope none do trade decions based on those.
some of the info on forexlive is ok, but should be treated with caution. according to the recent survey i read in FT the majority of analysts make consistent wrong predictions on the direction of the market or lagging in their analysis. i tend to read the headlines and skip the rest of the article so i don't get influenced too much by someone's opinion.
  • #596,255
  • Feb 16, 2012 6:47pm Feb 16, 2012 6:47pm
Quoting cammomile
thank you, betteridea.
What are your current trades... cammomile and betteridea

Entry ,SL and TP
PPP - Patience Pays PIPS
  • #596,256
  • Feb 16, 2012 7:02pm Feb 16, 2012 7:02pm
Quoting Leeson
+62 pips. +114 this week. Finally I am learning to wait for the proper setups... Took me 10k account to learn this...
Can you share your strategy or post your chart? I'm price action and have not found a method that works yet be it 5 mins, 30 mins, 1 hr or Daily TF.
  • #596,257
  • Feb 16, 2012 7:02pm Feb 16, 2012 7:02pm
Quoting rustyram
What are your current trades... cammomile and betteridea

Entry ,SL and TP
i dont trade asian session, so flat at the moment. as for London open tomorrow, will buy a pull back based on h1 pa to get into the current long trend. looking at 3099, 3088 and 3060 for potential levels of entry, however, these levels are not a+ imo, hence waiting for pa confirmation. my tp will be at 3190 or 3215 depending on where the entry takes place, sl below 3025. if tp is not reached by the end of tomorrow - will cut this. not holding over the w/end.
  • #596,258
  • Edited 7:28pm Feb 16, 2012 7:05pm | Edited 7:28pm
again if you wanna long something look at jpy crosses, gluck.

Intervention as we speak.

Anyone catch it? Probably not!!!
  • #596,259
  • Feb 16, 2012 7:25pm Feb 16, 2012 7:25pm
Quoting Z3iz3i
No, that is typical, depending on liquidity and software mechanisms, there is always some delay from your broker side on execution (unless really quality and expensive broker).

You would not even need a chart, just know important session closes and price level. Then you know which way to trade.
Can you share or give example of what you mean by your last comment "You would not even need a chart, just know important session closes and price level. Then you know which way to trade"? Thks.
  • #596,260
  • Feb 16, 2012 7:31pm Feb 16, 2012 7:31pm
today may be a 400-500 pip jpy cross move and a 200-300 pip eu day to finally shake out weak shorts.
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