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EurAnalysis Kindergarten 24 replies

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  • #31,301
  • May 18, 2012 6:03am May 18, 2012 6:03am
Do not mess with the longs trailing stop loss area! (8 EMA)

But watching negative slope purple line as well, which is a resistance area if its sloping down (where scalp shorts may have their stops placed)
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An opportunity lost is not a capital cost.
  • #31,302
  • May 18, 2012 6:03am May 18, 2012 6:03am
ForexLive European Wrap: Ugly start, but some stability starting to creep back ahead of the Camp David summit

Written by Pete Jackson
May 18, 2012 at 10:23 GMT

Fitch warns of mass Eurozone downgrades to sovereign debt ratings

IMF holds off visit to Greece until after June 17 elections

UK PM Cameron tells Merkel she is the only one who can save the euro

German April PPI +0.3% m/m, +2.4% y/y, worse than expected and lowest y/y print since June 2010

Italian March Industrial orders rise 3.5% after a 2.6% fall in February

BOE’s Posen: I might have been too optimistic on the UK economy

Germany’s Schaeuble: No austerity plan for Greece

4.8 magnitude earthquakes shakes Eastern Japan

Gold rises towards $1590 on safe haven demand

EU Commission denies earlier talk of contigency plans being drawn up by ECB/EU in the event of a Greek euro exit.

A very nervous start after Asian equity markets collapsed over 3% following ongoing Greek concerns and Moody’s downgrades of Spanish banks which started a run on banking shares. EUR/USD slumped in early trade and on the European open took out a 1.2650 barrier to lows of 1.2642 led by heavy sales from macros, Japanese and US names .

Real money and Middle Eastern demand then emerged, with the former apparently related to a large asset reallocation trade, and together with rumours of a Spanish ban on short stock selling lifted the EUR/USD and european stocks off the lows.

Asian sovereign selling related to diversification of overnight USD/Asia sales countered some of the demand but EUR/USD did manage a peek just above 1.2700 before running into larger offers. Option attraction to a large (2 bio) 1,.2700 strike today is currently keeping the focus.

USD/JPY was largely a non-event through a 79.19-47 range, the lows seen as EUR/JPY took out stops through 100.50 to 100.22 on the early sell-off in EUR/USD, before bouncing to 100.79. Large stops now rest on a break of 100.00 and offers sit above at 100.90/00.

GBP/USD pulled up from early lows of 1.5732 assisted by the EUR/USD and dovish remarks from Posen who admitted his inflation forecast was off and that the amount of QE required might rise. Cable rallied to 1.5821 before running into strong offers.

AUD/USD got an early savaging following a flushing of a 0.9850 barrier and tripped some heavy stops through 0.9820 and 0.9800, but sizeable bids just below soaked up the downdraft and led a steady climb back up to 0.9867.

European stocks were a bit mixed but strong recoveries were seen in the Spanish index following talk of a short selling ban on bank shares. IBEX/FTSE MIB are currently up fractionally, with the main loser on the morning being the FTSE 100 down around 0.9% . The STOXX 50 is flat on the day.
Those who say it cannot be done should not interrupt those who are doing it
  • #31,303
  • May 18, 2012 6:09am May 18, 2012 6:09am
Quoting PipTrapper
Nothing prevents profit taking other than greed.
Isnt last three Daily spikes shows that some of that has been already taken?
69
  • #31,304
  • May 18, 2012 6:11am May 18, 2012 6:11am
short for a possibly stupid scalp 27063

out for -1 that 5m bar looks too powerful
An opportunity lost is not a capital cost.
  • #31,305
  • May 18, 2012 6:25am May 18, 2012 6:25am
never underestimate the power of a candle with no wick . Will short the peak if we get there,
An opportunity lost is not a capital cost.
  • #31,306
  • May 18, 2012 6:32am May 18, 2012 6:32am
Quoting BFSGcapital
never underestimate the power of a candle with no wick . Will short the peak if we get there,
Careful. This is starting to smell like a turn-around to the upside.
Note long moves up and short pullbacks down. Also we are now above daily pivot and daily open.

Just sayin'

E/U M5
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Those who say it cannot be done should not interrupt those who are doing it
  • #31,307
  • May 18, 2012 6:37am May 18, 2012 6:37am
+8 on exhaustion scalp, but i agree with you PT, i got out at the 5m, 8EMA, which we just bounced off of. but i still think it needs to pull back here, 2735 is a good target
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An opportunity lost is not a capital cost.
  • #31,308
  • May 18, 2012 6:39am May 18, 2012 6:39am
Quoting BFSGcapital
+8 on exhaustion scalp, but i agree with you PT, i got out at the 5m, 8EMA, which we just bounced off of. but i still think it needs to pull back here, 3535 is a good target
Those who say it cannot be done should not interrupt those who are doing it
  • #31,309
  • May 18, 2012 6:42am May 18, 2012 6:42am
I really don't need to be sitting here.

If it goes down to make new lows today, I increase profits on my shorts.

If it goes up, I increase the chances of adding more shorts before the next move down.

Either way I win.

Nothing to watch here.

It's a beautiful day out there and I'm going to enjoy it.

I'll be back for NY

Later
Those who say it cannot be done should not interrupt those who are doing it
  • #31,310
  • May 18, 2012 6:42am May 18, 2012 6:42am
Quoting PipTrapper
lol i keep saying 3535, meant 2735
An opportunity lost is not a capital cost.
  • #31,311
  • May 18, 2012 6:44am May 18, 2012 6:44am
Quoting PipTrapper
I really don't need to be sitting here.

If it goes down to make new lows today, I increase profits on my shorts.

If it goes up, I increase the chances of adding more shorts before the next move down.

Either way I win.

Nothing to watch here.

It's a beautiful day out there and I'm going to enjoy it.

I'll be back for NY

Later
You need to teach me how to play the long game so I can live more of a life.

See you soon
An opportunity lost is not a capital cost.
  • #31,312
  • May 18, 2012 6:53am May 18, 2012 6:53am
As I can see the 11th candle on M30 is a perfect reversal candle which took the demand from the Mother Support, now all need to see how far we can go.

Had a wonderful time in my new company all pretty and teenage girls around.
  • #31,313
  • May 18, 2012 6:56am May 18, 2012 6:56am
Quoting rekon67
As I can see the 11th candle on M30 is a perfect reversal candle which took the demand from the Mother Support, now all need to see how far we can go.

Had a wonderful time in my new company all pretty and teenage girls around.
nice... surely you allow visitors, may I?
charting the euro...
  • #31,314
  • May 18, 2012 6:57am May 18, 2012 6:57am
Quoting rekon67
As I can see the 11th candle on M30 is a perfect reversal candle which took the demand from the Mother Support, now all need to see how far we can go.

Had a wonderful time in my new company all pretty and teenage girls around.
Bet you hate it when weekend comes
  • #31,315
  • May 18, 2012 7:00am May 18, 2012 7:00am
USD 4H - Evening star


Good luck
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If there was easy money lying around,no one would be forcing it into your
  • #31,316
  • May 18, 2012 7:01am May 18, 2012 7:01am
Quoting FXMindset
USD 4H - Evening star


Good luck
thank you

hope to see you around this thread more often your input is valued greatly
An opportunity lost is not a capital cost.
  • #31,317
  • May 18, 2012 7:03am May 18, 2012 7:03am
Quoting BFSGcapital
thank you

hope to see you around this thread more often your input is valued greatly
Welcome,

am still learning also,the 4H candles suggest going up more while this friday i have no doubt this one will keep going higher and form bullish pinbar on daily later,


Regards


Rekon
If there was easy money lying around,no one would be forcing it into your
  • #31,318
  • May 18, 2012 7:06am May 18, 2012 7:06am
Quoting shhhhh
nice... surely you allow visitors, may I?
Ha Ha most welcome, btw seems finally longs are going to get GREEN .. but not for long huh
  • #31,319
  • May 18, 2012 7:08am May 18, 2012 7:08am
Quoting FXMindset
Welcome,

am still learning also,the 4H candles suggest going up more while this friday i have no doubt this one will keep going higher and form bullish pinbar on daily later,


Regards


Rekon

hu ..hu no needs advertisement
  • #31,320
  • May 18, 2012 7:09am May 18, 2012 7:09am
Quoting rekon67
hu ..hu no needs advertisement
Revised


hu hu


Regards


Krunfx
If there was easy money lying around,no one would be forcing it into your
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