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EurAnalysis Kindergarten 24 replies

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  • #29,381
  • May 7, 2012 1:46pm May 7, 2012 1:46pm
Knew I should have just held my longs for a lot longer than 20 pips. But definitely did not expect that big of a recovery

Bulls/bears decision point right here. I say the bears win, but you never know.

Look on this chart at how many fakeouts of yellow/undergolden rod we will see. But at these levels and after such a long bull move, it feels safe.
An opportunity lost is not a capital cost.
  • #29,382
  • May 7, 2012 1:48pm May 7, 2012 1:48pm
.

need to clean up my charts lol. still have old intraday trend lines up
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An opportunity lost is not a capital cost.
  • #29,383
  • May 7, 2012 1:49pm May 7, 2012 1:49pm
Quoting BFSGcapital
No way it gets that high (okay anything is possible, but we have already bounced 100 pips).... You mean below 1.3050?
Sorry mate....I Edit it...1.3050 between 1.3020-40 will be good for bears (JMO)
Bulls Run. Bears Bite. We Profit.
  • #29,384
  • May 7, 2012 1:51pm May 7, 2012 1:51pm
and here's a 15m. i need to start playing these rallies when the price retraces back to the yellow line (8 period EMA)
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An opportunity lost is not a capital cost.
  • #29,385
  • May 7, 2012 1:51pm May 7, 2012 1:51pm
Quoting BFSGcapital
Knew I should have just held my longs for a lot longer than 20 pips. But definitely did not expect that big of a recovery

Bulls/bears decision point right here. I say the bears win, but you never know.

Look on this chart at how many fakeouts of yellow/undergolden rod we will see. But at these levels and after such a long bull move, it feels safe.
So far all I see is a failed attempt to close the gap and some short covering / profit taking. If it was true sentiment buying, we would have busted 3080 already.
Those who say it cannot be done should not interrupt those who are doing it
  • #29,386
  • May 7, 2012 1:53pm May 7, 2012 1:53pm
Yeah I know , still, 100 pips is 100 pips. I got long at 2964 yesterday just didn't hold it long enough

but yeah there is no reason to go higher from here, i'm sure we will see a london beat down tomorrow
An opportunity lost is not a capital cost.
  • #29,387
  • May 7, 2012 1:53pm May 7, 2012 1:53pm
Quoting BFSGcapital
and here's a 15m. i need to start playing these rallies when the price retraces back to the yellow line (8 period EMA)
That 8ema is excellent. I have the 8 and 12 on my charts. They work like a charm for pullbacks on higher TFs also.
Those who say it cannot be done should not interrupt those who are doing it
  • #29,388
  • May 7, 2012 2:01pm May 7, 2012 2:01pm
Quoting PipTrapper
That 8ema is excellent. I have the 8 and 12 on my charts. They work like a charm for pullbacks on higher TFs also.
I should try the 12. Goldenrod line is 21 EMA, which is even stronger support/resistance, usually.

Looks like the bears are trying to take over here

Or just another fakeout before a breakout.
An opportunity lost is not a capital cost.
  • #29,389
  • May 7, 2012 2:03pm May 7, 2012 2:03pm
Quoting PipTrapper
So far all I see is a failed attempt to close the gap and some short covering / profit taking. If it was true sentiment buying, we would have busted 3080 already.
Thats exactly on what my opinion is based on...
Bulls Run. Bears Bite. We Profit.
  • #29,390
  • May 7, 2012 2:03pm May 7, 2012 2:03pm
Yes short again, its only 20 pips from Fridays close.
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An opportunity lost is not a capital cost.
  • #29,391
  • May 7, 2012 2:07pm May 7, 2012 2:07pm
good consumer credit numbers for US
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  • #29,392
  • May 7, 2012 2:15pm May 7, 2012 2:15pm
Maybe bouncing off 21 EMA for 15m. but there is a pretty nasty doji candle too.
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An opportunity lost is not a capital cost.
  • #29,393
  • May 7, 2012 2:16pm May 7, 2012 2:16pm
experiencing low liquidity, might have to wait till Tokyo before seeing anything significant?
  • #29,394
  • May 7, 2012 2:34pm May 7, 2012 2:34pm
Quoting neuron
experiencing low liquidity, might have to wait till Tokyo before seeing anything significant?
who knows, maybe asia will sell tonight

doubt it though, they always buy. they will probably take it to 1.308 so london can slam it...

just my guess, but its very possible they take it down too, its just they usually dont buy any USD pairs, from my experience Asia so low volume that they use it as a correction or consolidation if sentiment is really strong
An opportunity lost is not a capital cost.
  • #29,395
  • Edited 2:53pm May 7, 2012 2:43pm | Edited 2:53pm
Just sharing my two-Cents worth.

Note level zone 1.31 / 1.3080. S.trades with tp around 1.298 (Based on chinkou running with candles back periods. )

IMO Based on 1.29 zone as ref zone for bear and 1.31 as ref zone for Bull. If 1.29 brk, next lvl to watch 1.27 zone

Priced of Hlines. (Xover point of Chinkou/Tenkan/Kuji sen which makes things now significant.)
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  • #29,396
  • May 7, 2012 2:48pm May 7, 2012 2:48pm
lol 20 pip bounce off 21ema in 15m periods..its still holding strong

I guess this is a major resistance point for DXY, so it makes sense we had such a huge pullback off 1.295
An opportunity lost is not a capital cost.
  • #29,397
  • May 7, 2012 2:52pm May 7, 2012 2:52pm
I good point to get long is 1.302/1 then 1.3120 then 1.28. IMO
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #29,398
  • May 7, 2012 2:55pm May 7, 2012 2:55pm
Quoting Luis Carlos
I good point to get long is 1.302/1 then 1.3120 then 1.28. IMO
With that we complete ABC correction
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #29,399
  • Edited 3:13pm May 7, 2012 2:55pm | Edited 3:13pm
15m is so strong... short at 1.3060 tight stop

BETTING on top here, 6 pip stop

new strategy is just to go short a ton instead of using lower leverage but allowing myself to go underwater and not closing the position (much more than i would if I wasn't using tight stops) at good levels like this. if i am wrong, i lose maybe 5 pips, and wait to get short again at a better spot.

losing 5 pips beats missing the whole move

edit: lol whoops i have two fib retacements up... my charts getting messy because i dont want to take two seconds to stop trading and clean it up... lol,
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An opportunity lost is not a capital cost.
  • #29,400
  • May 7, 2012 2:58pm May 7, 2012 2:58pm
Quoting Luis Carlos
With that we complete ABC correction
Makes sense
An opportunity lost is not a capital cost.
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