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  • #596,381
  • Feb 17, 2012 1:49am Feb 17, 2012 1:49am
This situation on the chart last 20 hours is similar to situation on 27. - 30. 10. 2011! Fast jump up, chop and next big slump to 1.26!
  • #596,382
  • Feb 17, 2012 1:51am Feb 17, 2012 1:51am
Okay, it went above 1,3130...to go back to 1,3115 (bottom of the support range) and bounced from it.

Now if it goes above 1,3170 it'll be a good opportunity to short it.
If it goes below 1,3090 it should be a good opportunity to buy depening on the PA there.
COT: The precious data ignored
  • #596,383
  • Feb 17, 2012 1:54am Feb 17, 2012 1:54am
i long if price go back 1.3060
  • #596,384
  • Feb 17, 2012 1:54am Feb 17, 2012 1:54am
Quoting Z3iz3i
The test was done below 1.3120 (6 pips and totally filled) and now it tests NY yesterday's close and London opens in 15min.
You are prominence, i belive that.
Think Different
  • #596,385
  • Feb 17, 2012 1:54am Feb 17, 2012 1:54am
Quoting Tobinguyen
i don't know that i always long on top and short in bottom, it is very risk, anyone can tell me why that ? please !
get a rest.... later next week coming back to trade...remember only one principles....trend is your friend and counter trend is your enemy!
and please use stops.....

have a nice weekend.....
  • #596,386
  • Feb 17, 2012 1:54am Feb 17, 2012 1:54am
Quoting Henryk
This situation on the chart last 20 hours is similar to situation on 27. - 30. 10. 2011! Fast jump up, chop and next big slump to 1.26!
You are an eternal optimist Henryk... Good luck.
  • #596,387
  • Feb 17, 2012 1:56am Feb 17, 2012 1:56am
as it stands greece is due to get it's 2nd tranche bailout agreed next week, ecb's greek bond swap program was announced yesterday, that's when and why e/u picked up strong bullish momentum, as it's essentially a solid step towards the deal getting done..

beware of any headlines concerning the greek situation today, as the volatility they may create is highly likely to trump any technicals...
  • #596,388
  • Feb 17, 2012 1:57am Feb 17, 2012 1:57am
Quoting disegnosys
1.2986 was the best price I could get at the time when I started trading. See my chart from link below. PA touched the 50% Fib and held, PA was strong and a good demand level. My USD chart was weak. Other crosses were showing strength. The buzz on the street, media, big shot analyst, and grandma all crying short but EURO doesn't tank. Then, I'm bullish looking for buys. The final reason why the trade was right was because the market didn't hit my stop. Don't make trading that hard. Find what works for you, use good R/R, MM, S/R levels, and...
Thanks. I'm new in this. Using MA 13, 26 and Stochastic (5,3,3). What is a good R/R, MM and the parameters?
  • #596,389
  • Feb 17, 2012 1:57am Feb 17, 2012 1:57am
Triple top forming on 15m is this significant.
Over thinking over analyzing separates the body from the mind.
  • #596,390
  • Feb 17, 2012 2:00am Feb 17, 2012 2:00am
Quoting 3stepsahead
Triple top forming on 15m is this significant.
doesn't price need to go back below 3114 to complete the pattern?

that said, a third rejection could be interpreted as being more significant than a second rejection, you need to read it in context, is it being rejected at a technical level, is there an increase in tick vol on the rejection spikes, time of day, etc., etc.
  • #596,391
  • Feb 17, 2012 2:01am Feb 17, 2012 2:01am
Quoting 3stepsahead
Triple top forming on 15m is this significant.
not confirmed triple top yet. might want to watch euro futures at the same time, the volume gives you some idea.
  • #596,392
  • Feb 17, 2012 2:01am Feb 17, 2012 2:01am
Quoting Crassius
You are an eternal optimist Henryk... Good luck.
No, but I donīt know why should I go to long on this place, when situation in Greece isnīt good. One thing is corrections to up, because is good new from Greece, but next is reality about this situation. For me this problem isnīt resolve.
  • #596,393
  • Feb 17, 2012 2:02am Feb 17, 2012 2:02am
Quoting FibbinArchie
doesn't price need to go back below 3114 to complete the pattern?
Thanks.
Over thinking over analyzing separates the body from the mind.
  • #596,394
  • Feb 17, 2012 2:03am Feb 17, 2012 2:03am
sideway again ? boring day
Think Different
  • #596,395
  • Feb 17, 2012 2:04am Feb 17, 2012 2:04am
Bullish divergence on M15, the target maybe around 1.318-1.320. Bearish div on H4 should be still holding on that point.
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  • #596,396
  • Feb 17, 2012 2:04am Feb 17, 2012 2:04am
Quoting Crassius
You are an eternal optimist Henryk... Good luck.
I agree
  • #596,397
  • Feb 17, 2012 2:05am Feb 17, 2012 2:05am
Quoting 3stepsahead
Thanks.
reread my post, i've added to it..
  • #596,398
  • Feb 17, 2012 2:08am Feb 17, 2012 2:08am
Play may be played between (= range day) 2 NY closes 1.3065 and 1.3136 but need some news to shake order balance first.

There are option expiries at 1.3100/10.

It may though spike up upside but close is more important. Close above 64 (Asian close few sessions ago) is significant sign for further up.
They think they are smarter than I am.
  • #596,399
  • Feb 17, 2012 2:09am Feb 17, 2012 2:09am
Quoting thevadd
And trade opposite to Frankfurt 5-10 minutes after London open. This is also high probability trade that I have observed.
Can you explain it further.
PPP - Patience Pays PIPS
  • #596,400
  • Feb 17, 2012 2:09am Feb 17, 2012 2:09am
Quoting rustyram
EUR Waves updated.

Still EUR daily trend is UP , process of making higher low.
In 4H timeframe EUR is still in retracement mode
That means we should see a 60 M - ABC waves

we are in the process of forming 60 M wave B, which generally retraces to former wave 4 of 15 min, which is at 1.3190, the upmove should stall at 1.3180 - 1.3205 area. It might meet the 60 min downtrend line at this area.
If it gives a bearish signs at this area, i will go short.

Then EUR should head right back to 1.2890, to complete the down move.

Then EUR should...

Nice chart and I agree, on daily when you look at fibo from 1.26's %61.8 is also 1.2890
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