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EurAnalysis Kindergarten 24 replies

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  • #30,101
  • May 10, 2012 10:41am May 10, 2012 10:41am
Quoting BFSGcapital
by large correction i only meant like 100 pips. So we hit 1.285 and bounce and test 1.295 again.

I'm just really frustrated for not taking profit near the lows because fear is setting in that its just going to rally until break even.. lol..


we hit that thicker green line and i am loading up huge. ill try a short with a tight stop at the thinner green line
.. be careful with the thick green .. as breaking it sometimes change the whole trend
  • #30,102
  • May 10, 2012 10:43am May 10, 2012 10:43am
I shorted last night as I posted and still feel are rallies should be shorted until we see ending action or confirmation of a reversal. Which at this point w ehav enot seen. There's also been a very tight trading range.
(He who knows everything knows nothing!)
  • #30,103
  • May 10, 2012 10:43am May 10, 2012 10:43am
The triangle is not confirmed, but you can use this to follow where is the big correction
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Stocktwit: LuisCarlos - twitter: @lcparodi
  • #30,104
  • May 10, 2012 10:43am May 10, 2012 10:43am
Quoting rekon67
no larger correction till 1.26 - 1.25. price is beautifully respecting the downward channel only 1.2900 level is a key here going another 300 pips down so a retest and rebound from 1.3000 - 30 level is important resuming down again.
The 88.6% fibo of the rise since the January lows is 1.2712
78.6% is 1.2807

Those are the targets I have my eye on before a major correction upwards.

If we break the low at 1.2622, then I expect to see 1.10/1.20 area before correction.
Those who say it cannot be done should not interrupt those who are doing it
  • #30,105
  • May 10, 2012 10:44am May 10, 2012 10:44am
my charts are a mess.... i really need to take 20 minutes and remove old trendlines and such, lol.

if i knew more about FX back then i would have shorted 1.338 when it was hit, because that was an even larger down trendline. from 1.348

lol i have too many fibs up too from minor moves...very confusing now
An opportunity lost is not a capital cost.
  • #30,106
  • May 10, 2012 10:44am May 10, 2012 10:44am
Quoting Luis Carlos
The triangle is not confirmed, but you can use this to follow where is the big correction
By the way this is USD/CHF
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #30,107
  • May 10, 2012 10:45am May 10, 2012 10:45am
Quoting stormstopper
I shorted last night as I posted and still feel are rallies should be shorted until we see ending action or confirmation of a reversal. Which at this point w ehav enot seen. There's also been a very tight trading range.
only a 55 pip movement ... indicates players are waiting for a catalyst. The more time market spend time in a bound range a fatal breakout is expected.
  • #30,108
  • May 10, 2012 10:46am May 10, 2012 10:46am
Quoting stormstopper
I shorted last night as I posted and still feel are rallies should be shorted until we see ending action or confirmation of a reversal. Which at this point w ehav enot seen. There's also been a very tight trading range.
Hey Storm. We have yet to see a chart posted by you and some rationale behind your sentiment.

The rules on Page 1 are for everybody... No exceptions
Those who say it cannot be done should not interrupt those who are doing it
  • #30,109
  • May 10, 2012 10:48am May 10, 2012 10:48am
looks like it wants to test the daily pivot again
An opportunity lost is not a capital cost.
  • #30,110
  • May 10, 2012 10:49am May 10, 2012 10:49am
Quoting BFSGcapital
my charts are a mess.... i really need to take 20 minutes and remove old trendlines and such, lol.

if i knew more about FX back then i would have shorted 1.338 when it was hit, because that was an even larger down trendline. from 1.348

lol i have too many fibs up too from minor moves...very confusing now
May I suggest using multiple charts? One for each time frame that you analyse. It's much easier that way.
Those who say it cannot be done should not interrupt those who are doing it
  • #30,111
  • May 10, 2012 10:50am May 10, 2012 10:50am
Quoting BFSGcapital
looks like it wants to test the daily pivot again
It's sideways from here. Greece is the word.
Those who say it cannot be done should not interrupt those who are doing it
  • #30,112
  • May 10, 2012 10:51am May 10, 2012 10:51am
Quoting PipTrapper
May I suggest using multiple charts? One for each time frame that you analyse. It's much easier that way.
yeah.. ill need to take the weekend to set that up got a lot to take care of with moving to a new brokerage

definitely a much better idea.

i need a few monitors so i can watch 5m and 15m and some higher time frames at the same time. I often miss a good short from 8EMA from 1 hour, or something like that, because my screen is only showing 5 or 15m chart, so i dont even notice we reach moving averages of higher time frames
An opportunity lost is not a capital cost.
  • #30,113
  • May 10, 2012 10:54am May 10, 2012 10:54am
Quoting PipTrapper
It's sideways from here. Greece is the word.
never thought of that. everyone is probably waiting until next week to be sure of it
An opportunity lost is not a capital cost.
  • #30,114
  • May 10, 2012 10:56am May 10, 2012 10:56am
Quoting PipTrapper
The 88.6% fibo of the rise since the January lows is 1.2712
78.6% is 1.2807

Those are the targets I have my eye on before a major correction upwards.

If we break the low at 1.2622, then I expect to see 1.10/1.20 area before correction.

I am not sure about any correction. I only try comparing Historical evidences.

In the last attempt of E/U touching 1.25 price returned from 1.26 level. Clearing 1.3000 E/U again confirmed a reattempt at 1.25 level [refer to 3rd may chart i posted].

I think 1.25 is more valid level than 1.26 so I am referring it but I agree point of test could be 1.2622.

  • #30,115
  • May 10, 2012 11:00am May 10, 2012 11:00am
well it almost always bounces off the exact level, at least a little bit.

If it hits 1.263 we will get at least 100 pip bounce, i am betting
An opportunity lost is not a capital cost.
  • #30,116
  • May 10, 2012 11:02am May 10, 2012 11:02am
US budget balance doesn't really mean anything to the markets does it..

i think its funny how many news announcements that are made that don't move markets at all.. but i still need my talking-forex.

its way too useful not to have it. people make mistakes all the time and forget when announcements and such are coming, etc.. these guys never forget anything.
An opportunity lost is not a capital cost.
  • #30,117
  • May 10, 2012 11:04am May 10, 2012 11:04am
Quoting BFSGcapital
well it almost always bounces off the exact level, at least a little bit.

If it hits 1.263 we will get at least 100 pip bounce, i am betting
ha ha 1.263 has time .. plenty of time
  • #30,118
  • May 10, 2012 11:05am May 10, 2012 11:05am
Quoting Luis Carlos
By the way this is USD/CHF
you are not playing good
  • #30,119
  • May 10, 2012 11:09am May 10, 2012 11:09am
Quoting rekon67
ha ha 1.263 has time .. plenty of time
Maybe not as much as you think! I'd say a month or so lol.
An opportunity lost is not a capital cost.
  • #30,120
  • May 10, 2012 11:22am May 10, 2012 11:22am
Quoting BFSGcapital
Maybe not as much as you think! I'd say a month or so lol.
more like by month end

OOPS I didn't mean 1.26 by month end. I meant either the 78.6 or 88.6 fibo
Those who say it cannot be done should not interrupt those who are doing it
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