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  • #14,261
  • Apr 30, 2012 1:33am Apr 30, 2012 1:33am
Quoting BrunargarFx
Hi guys/ladies, hope you are all keeping well and in the green.
I'll be back trading Monday afternoon.

B.
B.. hope all is very well and funds safely in your pocket..
  • #14,262
  • Apr 30, 2012 2:09am Apr 30, 2012 2:09am
Quoting BrunargarFx
Hi guys/ladies, hope you are all keeping well and in the green.
I'll be back trading Monday afternoon.

B.
Welcome back!!

Hello guys and good morning.

Monday trading is usually range trade. Many times we have witnessed profit taking on Friday to be reversed by Monday.

To keep it simple...As long as EU stays above 3235 we are targeting 3285 3330 3345.

Below 3235 if it breaks, stops should be put just above 3250 and targets are 3225 3213 3207. 3207 I have as London projected low while 3282 stands as London projected top.

Patience and wait for setups.
  • #14,263
  • Apr 30, 2012 3:01am Apr 30, 2012 3:01am
PAy attention guys.

There are 2 types of trading with the trend: Following it or countering it. The third problem to all traders is knowing when trend is reversing ( according to Higher TF analysis and lower TF charts).

Look at EU now...generally we are having an uptrend and we buy on pullbacks. First pullback was ok 3239 was good for buying as 3232 was a good stop for longs. But then what then...

I usually wait for new HH in order to buy it again on pullback. HH and HL are the trademark of UPTREND.

Having said that lets deal with the 3rd thing..When is possible reversal going to happen. My trading is not a sort of picking up the levels and shorting it blindly.
The thing is, Id sell this on successful retest if 3235 breaks to the downside. Usually safe reversals are played on BPC. By trading BPC you sacrifice some pips but your winning chance becomes higher.
  • #14,264
  • Apr 30, 2012 3:19am Apr 30, 2012 3:19am
Quoting T@rantula
PAy attention guys.

There are 2 types of trading with the trend: Following it or countering it. The third problem to all traders is knowing when trend is reversing ( according to Higher TF analysis and lower TF charts).

Look at EU now...generally we are having an uptrend and we buy on pullbacks. First pullback was ok 3239 was good for buying as 3232 was a good stop for longs. But then what then...

I usually wait for new HH in order to buy it again on pullback. HH and HL are the trademark of UPTREND.

Having said that lets deal with the...
very good article
looking for investors . pm me
  • #14,265
  • Apr 30, 2012 3:22am Apr 30, 2012 3:22am
Target levels of depreciation of the single European currency: 1.3226, 1.3180. If this level is broken, continues decline further towards 1.3150 and possibly to 1.3095.
looking for investors . pm me
  • #14,266
  • Apr 30, 2012 3:24am Apr 30, 2012 3:24am
Here we have an excellent example of first BPC failed pattern.

3235 was broken put the PULLBACK candle failed to stop at 3235. That is the signal not to take the trade.

Attached Image (click to enlarge)
Click to Enlarge Name: BPC failed.jpg Size: 66 KB
  • #14,267
  • Apr 30, 2012 3:36am Apr 30, 2012 3:36am
Lets see a potential BPC now.
  • #14,268
  • Apr 30, 2012 3:41am Apr 30, 2012 3:41am
Quoting T@rantula
Lets see a potential BPC now.
Still not confirmed, tricky..waiting..
  • #14,269
  • Apr 30, 2012 3:42am Apr 30, 2012 3:42am
Ugly candles on M15. Daily low at 3229 not broken. Stil no daily HH or LL.
  • #14,270
  • Apr 30, 2012 3:44am Apr 30, 2012 3:44am
Quoting Chika Kure
Ugly candles on M15. Daily low at 3229 not broken. Stil no daily HH or LL.
Exactly, the best is to wait for BPC as we need only 15 point stop and/or NEW HH where we could buy next pullback
  • #14,271
  • Apr 30, 2012 3:50am Apr 30, 2012 3:50am
Quoting T@rantula
Exactly, the best is to wait for BPC as we need only 15 point stop and/or NEW HH where we could buy next pullback
What is BPC?

I have 1.3222 as support and 1.3212 as 50% fib support.

1.3185 is the confirmation of move down as well.

It may go higher from here as well (1.3229 or 1.3222.)
Attached Image (click to enlarge)
Click to Enlarge Name: EURO MAY.jpg Size: 133 KB
Markets are not Random, they are designed!
  • #14,272
  • Apr 30, 2012 3:51am Apr 30, 2012 3:51am
Quoting Raza
What is BPC?
Break-Pullback-Continuation
  • #14,273
  • Apr 30, 2012 3:52am Apr 30, 2012 3:52am
Quoting Chika Kure
Break-Pullback-Continuation
Thanks
Markets are not Random, they are designed!
  • #14,274
  • Apr 30, 2012 3:54am Apr 30, 2012 3:54am
Quoting Raza
Thanks
Yes BPC is famous retest pattern. Some traders refer to it as retest-continuation, look at the chart above, green arrow would have confirmed BPC.

If new HH is made then again we have a trend and buy on pullback should be next.
  • #14,275
  • Apr 30, 2012 3:57am Apr 30, 2012 3:57am
Quoting T@rantula
Yes BPC is famous retest pattern. Some traders refer to it as retest-continuation, look at the chart above, green arrow would have confirmed BPC.

If new HH is made then again we have a trend and buy on pullback should be next.
OK.


The thing that messed up the whole view and my plan was price going back to 1.3260s TODAY....should not had.

Or E/U is waiting for G/U to finish doing what it is doing then go down..or when G/U retraces then E/U go Up sort of taking turns.

G/U seems like it is targetting 1.65 level ... My projection is higher than the 3 yr high...slightly above 1.70.

Then E/U should be here...Chart attached
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU HORIZONTAL TRAINGLE APRIL #4.jpg Size: 136 KB
Click to Enlarge Name: NOW.jpg Size: 157 KB
Markets are not Random, they are designed!
  • #14,276
  • Apr 30, 2012 4:29am Apr 30, 2012 4:29am
Quoting Raza
OK.


The thing that messed up the whole view and my plan was price going back to 1.3260s TODAY....should not had.
Yes I also reckon we should have some retracement to 3185 today at least. Thats what i have been waiting for. Retest then down or eventual HH then buy on next pullback (PB).

As for mid term view a lot will depend on further fundamental news from euro zone or expected/unexpected market behaviours. Have in mind that we have 3 more months of real trading before the summer holidays start
  • #14,277
  • Apr 30, 2012 4:39am Apr 30, 2012 4:39am
Quoting T@rantula
Yes I also reckon we should have some retracement to 3185 today at least. Thats what i have been waiting for. Retest then down or eventual HH then buy on next pullback (PB).

As for mid term view a lot will depend on further fundamental news from euro zone or expected/unexpected market behaviours. Have in mind that we have 3 more months of real trading before the summer holidays start
I need to make some $$ by summer, after that school starts.
Markets are not Random, they are designed!
  • #14,278
  • Apr 30, 2012 4:43am Apr 30, 2012 4:43am
Quoting Raza
I need to make some $$ by summer, after that school starts.
Yes lets make it good summer holiday
  • #14,279
  • Apr 30, 2012 4:46am Apr 30, 2012 4:46am
Im selling this

E:3232
SL:3248
TP:open
  • #14,280
  • Apr 30, 2012 4:54am Apr 30, 2012 4:54am
Quoting T@rantula
Im selling this

E:3232
SL:3248
TP:open
Reasons:

Attached Image (click to enlarge)
Click to Enlarge Name: e.jpg Size: 83 KB
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