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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #25,821
  • Apr 2, 2012 7:47am Apr 2, 2012 7:47am
Quoting rekon67
Yep! Still afraid of PT's Hammer when I place a BUY Order on the pair
see, it was a comfortable jump from 1.3380 I wonder if it back again any time soon!
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  • #25,822
  • Apr 2, 2012 7:50am Apr 2, 2012 7:50am
Quoting rekon67
see, it was a comfortable jump from 1.3380 I wonder if it back again any time soon!
The bottom of the range is 3310/20 so as long as we keep ranging, we'll probably be back up around 3375/85 area in NY trading.
Those who say it cannot be done should not interrupt those who are doing it
  • #25,823
  • Apr 2, 2012 7:57am Apr 2, 2012 7:57am
Quoting PipTrapper
The bottom of the range is 3310/20 so as long as we keep ranging, we'll probably be back up around 3375/85 area in NY trading.
Historical witness says 1.325x ...
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  • #25,824
  • Apr 2, 2012 8:01am Apr 2, 2012 8:01am
Bull finish ?
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If there was easy money lying around,no one would be forcing it into your
  • #25,825
  • Apr 2, 2012 8:03am Apr 2, 2012 8:03am
Out for +35 today and as I write, it's continuing to drop. Next stop is at 1.3285 if 1.3300 fails. Now at 1.3290.
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I observe your reality but live my own.
  • #25,826
  • Apr 2, 2012 8:04am Apr 2, 2012 8:04am
Quoting FXMindset
Bull finish ?
Yes the bull channel is now toast. We now wait for confirmation. Break below 3250 and we're bearish again.

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Those who say it cannot be done should not interrupt those who are doing it
  • #25,827
  • Apr 2, 2012 8:05am Apr 2, 2012 8:05am
Quoting rekon67
Historical witness says 1.325x ...
Yes I agree and now that we have broken below 3310, I agree even more
Those who say it cannot be done should not interrupt those who are doing it
  • #25,828
  • Apr 2, 2012 8:09am Apr 2, 2012 8:09am
Quoting PipTrapper
Yes I agree and now that we have broken below 3310, I agree even more
All because of your Hammer Did ya came back with it from the walk?
  • #25,829
  • Apr 2, 2012 8:17am Apr 2, 2012 8:17am
Quoting PipTrapper
Yes the bull channel is now toast. We now wait for confirmation. Break below 3250 and we're bearish again.
I agree, this would place us below the 50% fib line, however I think the low today will be around 1.3274 which is the Daily S2 line.
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I observe your reality but live my own.
  • #25,830
  • Apr 2, 2012 8:18am Apr 2, 2012 8:18am
Quoting rekon67
All because of your Hammer Did ya came back with it from the walk?
No I am not using my hammer. I am using a magnet from underneath

New Strategy

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Those who say it cannot be done should not interrupt those who are doing it
  • #25,831
  • Apr 2, 2012 8:24am Apr 2, 2012 8:24am
We need something like PMI at 9 to break that 1.328. We need to finish the day below!!!!!!!!
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #25,832
  • Apr 2, 2012 8:29am Apr 2, 2012 8:29am
Quoting Luis Carlos
We need something like PMI at 9 to break that 1.328. We need to finish the day below!!!!!!!!
I think we will. Look at the lower TF PA. It's still very bearish.
Those who say it cannot be done should not interrupt those who are doing it
  • #25,833
  • Apr 2, 2012 8:41am Apr 2, 2012 8:41am
Quoting PipTrapper
I think we will. Look at the lower TF PA. It's still very bearish.
I see. We are going to finish below. Also I did EW, it is corrected some w4 right now.
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #25,834
  • Apr 2, 2012 8:57am Apr 2, 2012 8:57am
Quoting Luis Carlos
I see. We are going to finish below. Also I did EW, it is corrected some w4 right now.
US ISM Manufacturing PMI in 5 minutes. If the number is under expectation, it will add to negative sentiment and we will see 3250.

If it is stronger than expected or as expected, then we will be stuck back in the range.

My opinion anyway. Anything can happen
Those who say it cannot be done should not interrupt those who are doing it
  • #25,835
  • Apr 2, 2012 9:03am Apr 2, 2012 9:03am
Quoting PipTrapper
US ISM Manufacturing PMI in 5 minutes. If the number is under expectation, it will add to negative sentiment and we will see 3250.

If it is stronger than expected or as expected, then we will be stuck back in the range.

My opinion anyway. Anything can happen
PMI as expected but construction spending and manufacturing prices failed to deliver on expectations.

This could go either way now.

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Those who say it cannot be done should not interrupt those who are doing it
  • #25,836
  • Apr 2, 2012 9:06am Apr 2, 2012 9:06am
Quoting PipTrapper
PMI as expected but construction spending and manufacturing prices failed to deliver on expectations.

This could go either way now.

Attachment
We going to touch that 132.5 today, right now pullback will top the channel line and return.
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #25,837
  • Apr 2, 2012 9:13am Apr 2, 2012 9:13am
Quoting Cgb
Out for +35 today and as I write, it's continuing to drop. Next stop is at 1.3285 if 1.3300 fails. Now at 1.3290.
1.3285 holding and with both crude and gold posting new highs for today, I expect USDX to continue to fall and push Euro back above 1.3300 with a return to Daily S1 at 1.3310 as target.

Long from 1.3287 and SL below Daily S2
I observe your reality but live my own.
  • #25,838
  • Apr 2, 2012 9:27am Apr 2, 2012 9:27am
Ok, well I don't know if it will necessarily make it that high, but there is plenty of room for it to easily make it up to the 1.3400 level. ... Based on stochastic levels in the 1 hr time frame going oversold with price above the moving average, I put in a limit order around 9:30am EST to go long at 1.3290, which was around a pivot point. ... I've learned the hard way to start paying attention to pivot points. Even though at 9:30am EST it was already oversold, it was still over 30 pips higher than the pivot point so I didn't do a market order buy because based on past experience there was still the likely chance it would run down the additional 30 pips or so before turning back up to make a powerful run at the 1.34 level. ... By doing the trade the way I did, I figured the worse case that woulda happened was I miss a long trade if it didn't come down to my level but that is better than losing money by jumping in too early or short changing yourself on the profit. ... So we'll see how price action plays out today but I am expecting it to crack 1.34 mildly in under 24 hours.
  • #25,839
  • Apr 2, 2012 10:07am Apr 2, 2012 10:07am
Seems Its not a short day yet
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If there was easy money lying around,no one would be forcing it into your
  • #25,840
  • Apr 2, 2012 10:17am Apr 2, 2012 10:17am
Quoting Cgb
1.3285 holding and with both crude and gold posting new highs for today, I expect USDX to continue to fall and push Euro back above 1.3300 with a return to Daily S1 at 1.3310 as target.

Long from 1.3287 and SL below Daily S2
Out 1.3215 for another +25 for a total of +60 for today. My day is done and like PT said earlier, "It's nice and sunny, time to get a tan"

Cheers and happy trading guys.
I observe your reality but live my own.
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