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EurAnalysis Kindergarten 24 replies

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  • #31,821
  • May 22, 2012 11:40pm May 22, 2012 11:40pm
I follow the algorithm religiously (on exhaustion especially) which is why I took profit. Price is now 15 pips above where I took profit (1.0077)

But yes, it is hard for a scalper to hold for a while. I haven't even been holding 24 hours.

I do want to get back in this move isn't over in EJ i wouldnt think
An opportunity lost is not a capital cost.
  • #31,822
  • May 22, 2012 11:43pm May 22, 2012 11:43pm
Quoting PeepPeep
BFSG Which bands r these?(in ur chart)?
custom indicator i wish i could explain it. pm me if you want the mq4 file
An opportunity lost is not a capital cost.
  • #31,823
  • May 22, 2012 11:53pm May 22, 2012 11:53pm
short EJ 100.94, if im expecting this thing to go lower (which i am), that was basically like scalping long for 17 pips.

correction probably not over but i wanted to make sure i got back in at a decent spot
An opportunity lost is not a capital cost.
  • #31,824
  • May 23, 2012 12:29am May 23, 2012 12:29am
The USD index are at January 13 high and the EUR at .2680. Lets see if it breaks or hold.
He who fears being conquered is sure of defeat - Napoleon Bonaparte
  • #31,825
  • May 23, 2012 1:07am May 23, 2012 1:07am
hello masters.. newbie here
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #31,826
  • May 23, 2012 1:11am May 23, 2012 1:11am
Good morning all,

Just as expected, the BOJ left monetary policy unchanged. That as well as the increased market fear of EZ uncertainty (especially after Papademos' comments and the OECD report) has put more pressure on the Euro and further supported the Yen. Hence a great 140+ pips move down in the EUR/JPY pair (WooHoo) from yesterday's high. We also saw the EUR/USD hitting double bottom at 1.2640/45

So, what's next? After such a pronounced overnight move, I would expect some form of attempt to bounce up a bit. So far it's a bit too early to tell, but once London opens, we will get our answer. We must also keep in mind that today is EU Summit Day where politicians will be spewing their drivel in a pathetic attempt to calm markets with their half-baked ideas which never seem to have any long lasting effect. Again patience is key. Let's see what they come up with. The main items on the agenda will surely be "More Integration" and maybe an allowance for growth rather than just austerity. Time will tell.

Technically, if we break the low of E/U today, then I project the next target as 1.2525 area which puts us square at the 261.8% fibo on my H4 chart. A corrective retrace should take us up to test the 100 hour moving average around 1.2724 area. On the E/J, the move should continue downward today to test the rising trend line at 100.34. Ultimately my target still remains at the 98.7/9 area as we look to complete this technical move which is well supported by the underlying fundamentals.

E/U H4
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E/J H4
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Those who say it cannot be done should not interrupt those who are doing it
  • #31,827
  • May 23, 2012 1:14am May 23, 2012 1:14am
Today’s orderboard

Written by Pete Jackson
May 23, 2012 at 06:06 GMT

EUR/USD: Offers 1.2680/00, Bids 1.2640/50 and stronger 1.2625/35 with sell stops below. and larger through 1.2600

GBP/USD: Bids 1.5730/40 and 1.5700/10, offers 1.5765/75 and 1.5800/10

EUR/GBP: Offers 0.8060/65, bids 0.8025/30, tech sup 0.7995/00

USD/JPY: Exporter offers from 79.90 through to 80.10. Bids 79.50/60, larger down at 79.00/10 with large sell stops below (79.00 barrier)

EUR/JPY: Bids 100.65/75 and 100.25/35. Sell stops through 100.20 and larger through 100.00. Offers 101.00/10 and 101.40/50

EUR/CHF: Bids 1.2005/10. Offers 1.2015/20

USD/CHF: Offers 0.9490/00 and tech res 0.9520/25, Tech sup 0.9430/40

NZD/USD: Bids 0.7490/95, sell stops just below, ahead of tech sup 0.7460/65. Offers 0.7550/55

AUD/USD: Bids 0.9740/50, 0.9700/10. Offers 0.9789/00 and 0.9840/50

AUD/JPY: Tech sup 77.50/55, Offers 78.05/15
Those who say it cannot be done should not interrupt those who are doing it
  • #31,828
  • May 23, 2012 1:15am May 23, 2012 1:15am
Quoting PipTrapper
Good morning all,

Just as expected, the BOJ left monetary policy unchanged. That as well as the increased market fear of EZ uncertainty (especially after Papademos' comments and the OECD report) has put more pressure on the Euro and further supported the Yen. Hence a great 140+ pips move down in the EUR/JPY pair (WooHoo) from yesterday's high. We also saw the EUR/USD hitting double bottom at 1.2640/45

So, what's next? After such a pronounced overnight move, I would expect some form of attempt to bounce up a bit. So far it's a bit too early to...
Agreed! Now post bloomy charts please!

btw next target on the EU if it breaks the 2633 I got is the 2460/2502 range... should put up a helluva fight since its the gatekeeper to the 1.2000
  • #31,829
  • May 23, 2012 1:17am May 23, 2012 1:17am
Today's option expiries at 14:00 GMT

1.2870
1.2850
1.2750
1.2730
1.2725
1.2650
Those who say it cannot be done should not interrupt those who are doing it
  • #31,830
  • May 23, 2012 1:23am May 23, 2012 1:23am
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Those who say it cannot be done should not interrupt those who are doing it
  • #31,831
  • May 23, 2012 1:25am May 23, 2012 1:25am
^^^^^ thx brother

man those italian spreads are creepin back up towards 6... talk about all hell breaking loose...
  • #31,832
  • May 23, 2012 1:32am May 23, 2012 1:32am
Quoting Wulfgar
^^^^^ thx brother

man those italian spreads are creepin back up towards 6... talk about all hell breaking loose...
Hell has already broken loose. Just give those gremlins enough time to realize the flood gates are wide open. Right now they are pre-occupied with little insignificant Greece. As soon as that episode ends in a huge mess (and it will) focus will very quickly turn to Italy (especially with Spain teetering on the brink)

All in good time my friend.... patience. The mountain will eventually come to Mohammad
Those who say it cannot be done should not interrupt those who are doing it
  • #31,833
  • May 23, 2012 1:36am May 23, 2012 1:36am
Quoting PipTrapper
Hell has already broken loose. Just give those gremlins enough time to realize the flood gates are wide open. Right now they are pre-occupied with little insignificant Greece. As soon as that episode ends in a huge mess (and it will) focus will very quickly turn to Italy (especially with Spain teetering on the brink)

All in good time my friend.... patience. The mountain will eventually come to Mohammad
I think the world is more or less gonna explode in 2013/2014

Im stocking up on weapons and survival gear...
  • #31,834
  • May 23, 2012 1:48am May 23, 2012 1:48am
Quoting Wulfgar
I think the world is more or less gonna explode in 2013/2014

Im stocking up on weapons and survival gear...
Those who say it cannot be done should not interrupt those who are doing it
  • #31,835
  • Edited 2:02am May 23, 2012 1:49am | Edited 2:02am
  •  AFXFin
  • | Joined Oct 2011 | Status: Price don't have a mind of it's own | 915 Posts
Quoting PipTrapper
Good morning all,

Just as expected, the BOJ left monetary policy unchanged. That as well as the increased market fear of EZ uncertainty (especially after Papademos' comments and the OECD report) has put more pressure on the Euro and further supported the Yen. Hence a great 140+ pips move down in the EUR/JPY pair (WooHoo) from yesterday's high. We also saw the EUR/USD hitting double bottom at 1.2640/45

So, what's next? After such a pronounced overnight move, I would expect some form of attempt to bounce up a bit. So far it's a bit too...
Couple of comments:
This is double bottom and could cause a longer run up than predicted, but not without catalyst. If none of financial parties step in to support euro, we will see a good dive.

What comes to EU Summit: I took a look at general agenda and there is no discussion about crisis.
http://www.toad.eesc.europa.eu/Agend...dLxAYnYqvwQ%3d

ADD: That applies to whole week. It looks like Eu has put their head into bush in this.
http://www.eubusiness.com/events/EUcalendar

ADD2: Only meeting which may give something is OECD ministry meeting, but I doubt that they will make any decisions on anything.
http://www.oecd.org/document/31/0,37..._1_1_1,00.html
  • #31,836
  • May 23, 2012 2:01am May 23, 2012 2:01am
Quoting AFXFin
Couple of comments:
This is double bottom and could cause a longer run up than predicted, but not without catalyst. If none of financial parties step in to support euro, we will see a good dive.

What comes to EU Summit: I took a look at general agenda and there is no discussion about crisis.
http://www.toad.eesc.europa.eu/Agend...dLxAYnYqvwQ%3d

ADD: That applies to whole week. It looks like Eu has put their head into bush in this.
http://www.eubusiness.com/events/EUcalendar...
Yes I agree the official agenda has nothing in it regarding the debt crisis. However, it usually doesn't. The agenda I refer to is the non-official agenda of the side meetings that take place whilst all the leaders are in the same city.
Those who say it cannot be done should not interrupt those who are doing it
  • #31,837
  • May 23, 2012 2:13am May 23, 2012 2:13am
  •  AFXFin
  • | Joined Oct 2011 | Status: Price don't have a mind of it's own | 915 Posts
Quoting PipTrapper
Yes I agree the official agenda has nothing in it regarding the debt crisis. However, it usually doesn't. The agenda I refer to is the non-official agenda of the side meetings that take place whilst all the leaders are in the same city.
There probably is some meetings, but none official, which makes any difference.

We probably don't get any news anyway before tomorrow. Also it is said that there will be no decisions made during this meeting. I believe this is just another bubble we've seen so many times before.

Mario D. is also about have speech tomorrow, but is just some university speech promoting ECB - no announcements included.
  • #31,838
  • May 23, 2012 2:18am May 23, 2012 2:18am
  •  AFXFin
  • | Joined Oct 2011 | Status: Price don't have a mind of it's own | 915 Posts
There is German auction this morning which probably sells well, since Euro is down and that interests investors outside Euro zone. That may take Euro up a little, though I doubt. Price looks quite comatose at a moment.
  • #31,839
  • May 23, 2012 2:19am May 23, 2012 2:19am
Quoting AFXFin
There probably is some meetings, but none official, which makes any difference.

We probably don't get any news anyway before tomorrow. Also it is said that there will be no decisions made during this meeting. I believe this is just another bubble we've seen so many times before.

Mario D. is also about have speech tomorrow, but is just some university speech promoting ECB - no announcements included.
Besides the German zero coupon auction today, are there any others you know of?
Those who say it cannot be done should not interrupt those who are doing it
  • #31,840
  • May 23, 2012 2:22am May 23, 2012 2:22am
Hello Wulfgar,

Quoting Wulfgar
I think the world is more or less gonna explode in 2013/2014

Im stocking up on weapons and survival gear...
Good to know there are still some ppl of the mighty US of A that have weapons when the world going to collapse.
ha ha.

Over the pond we stock up with beer and snaps
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