M/R1 1.0821
M/R2 1.0844
Nearly Naked (Simple Trades)
- #10,743
- Edited 7:39am Feb 29, 2012 6:52am | Edited 7:39am
- Joined Jun 2009 | Status: Psalm 84: 10-12 | 842 Posts
1.3569 EU around this level is important as its the 3 weekly highs.
US dollar index getting close to first level of 3 weekly lows too.
GU most likely will take EU with it today. If this happens then a nice level is this weeks lows for longs at 1.3366 as PA did not make it down there yesterday for a retest.
Notice EU took out the white 35 sma on M30 yesterday and see how PA reacted around there after that. this sma is MarcVUM awesome sma on M30. It rocks
US dollar index getting close to first level of 3 weekly lows too.
GU most likely will take EU with it today. If this happens then a nice level is this weeks lows for longs at 1.3366 as PA did not make it down there yesterday for a retest.
Notice EU took out the white 35 sma on M30 yesterday and see how PA reacted around there after that. this sma is MarcVUM awesome sma on M30. It rocks
- #10,744
- Feb 29, 2012 9:01am Feb 29, 2012 9:01am
- Joined Jan 2010 | Status: My Coffee is Cold :( | 3,632 Posts
- #10,745
- Feb 29, 2012 9:18am Feb 29, 2012 9:18am
- Joined Jan 2010 | Status: My Coffee is Cold :( | 3,632 Posts
- #10,748
- Feb 29, 2012 10:13am Feb 29, 2012 10:13am
- Joined Feb 2010 | Status: ...everything will be fine... | 2,834 Posts
I am so happy to receive a vouch from you.
Your charts reveal a level of excellence of trading.
I always enjoy reading your posts.
By the way I think AU is on steroids this week heading for 1.09 and above.
I just bought in now. instead of EU.
The 3 monthly levels 2nd highs at 1.0944. target this week.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
- #10,749
- Feb 29, 2012 12:38pm Feb 29, 2012 12:38pm
- Joined Sep 2010 | Status: MR. NOBODY | 3,042 Posts
- #10,751
- Mar 1, 2012 6:00am Mar 1, 2012 6:00am
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
Good Morning Traders….
Over the years of trading, I discovered one truth:
When the market is highly overbought, good news has less or none impact then bad news.
This is exactly what had happened yesterday. Despite very positive news from US the price didn’t respond,
while few negative Bernanke’s words made all markets cracked down.
It was not much surprise to me, but what really surprised me was the strength of this movement.
I was expecting bit shallow and easy correction to 1.33200 within two following sessions, while it reached that level in first 4hours (lol)
MID-TERM
I am convinced bulls are waiting behind the corner and only looking for a good BUY opportunity to attack 1.35200 again.
Bulls want to complete beautiful uptrend 12345 pattern, clearly visible on daily and weekly charts.
There’s only one, fifth wave missing to complete the whole formation, so bulls definitely would love to attack again.
After completion, a solid trend reversal would be highly possible (with eyes even on 1.2600 before holidays).
SHORT TERM
However today’s bias is bearish (huge red 4H and daily candles) and PA now doesn’t yet seem to be attractive to buy.
Probably it is a matter of time to see soon 1.32800 or even below.
As for now (11.45 London) I am expecting some pullbacks (maybe to 1.3400-1.34500 region) and then further depreciation.
I will try to SHORT on pullbacks targeting 1.32800 where we can see some consolidation aftermath.
However many news coming in, ISM and Bernanke (the wizard of Oz) so they can turn the table anytime…
I give 75% chance to my scenario
----------------------
Remember…. No matter what, price does what it wants
Like me – vouch me
Over the years of trading, I discovered one truth:
When the market is highly overbought, good news has less or none impact then bad news.
This is exactly what had happened yesterday. Despite very positive news from US the price didn’t respond,
while few negative Bernanke’s words made all markets cracked down.
It was not much surprise to me, but what really surprised me was the strength of this movement.
I was expecting bit shallow and easy correction to 1.33200 within two following sessions, while it reached that level in first 4hours (lol)
MID-TERM
I am convinced bulls are waiting behind the corner and only looking for a good BUY opportunity to attack 1.35200 again.
Bulls want to complete beautiful uptrend 12345 pattern, clearly visible on daily and weekly charts.
There’s only one, fifth wave missing to complete the whole formation, so bulls definitely would love to attack again.
After completion, a solid trend reversal would be highly possible (with eyes even on 1.2600 before holidays).
SHORT TERM
However today’s bias is bearish (huge red 4H and daily candles) and PA now doesn’t yet seem to be attractive to buy.
Probably it is a matter of time to see soon 1.32800 or even below.
As for now (11.45 London) I am expecting some pullbacks (maybe to 1.3400-1.34500 region) and then further depreciation.
I will try to SHORT on pullbacks targeting 1.32800 where we can see some consolidation aftermath.
However many news coming in, ISM and Bernanke (the wizard of Oz) so they can turn the table anytime…
I give 75% chance to my scenario
----------------------
Remember…. No matter what, price does what it wants
Like me – vouch me
Read Charts - Not Papers
- #10,756
- Mar 2, 2012 9:13am Mar 2, 2012 9:13am
- Joined Jan 2010 | Status: My Coffee is Cold :( | 3,632 Posts
Seeing if EU can get into that target, would be nice 
- #10,759
- Mar 2, 2012 11:49am Mar 2, 2012 11:49am
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
Seeing if EU can get into that target, would be nice
I don't expect anything else till Monday... drop by drop to 1.31600
I can turn my comp off, and enjoy weekend ;-)
Read Charts - Not Papers
- #10,760
- Mar 2, 2012 1:13pm Mar 2, 2012 1:13pm
- Joined Jan 2010 | Status: My Coffee is Cold :( | 3,632 Posts
Keep on eye at that level.
