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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #32,601
  • May 27, 2012 1:24pm May 27, 2012 1:24pm
Quoting mka_78
This is how it looks like right now
EU now at 1.2581
  • #32,602
  • May 27, 2012 1:41pm May 27, 2012 1:41pm
hi guys, a nice new week ahead. lets hope for some big moves either way. just watch the charts and dont THINK becauce it will get you into trouble. a funny thing happened earlier,,, my little girl opened a drawer and found a bag of old greek drachmas and she said could she still use them lol. maybe thats a sign.. take care and happy trading
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #32,603
  • May 27, 2012 1:43pm May 27, 2012 1:43pm
Quoting billytt
hi guys, a nice new week ahead. lets hope for some big moves either way. just watch the charts and dont THINK becauce it will get you into trouble. a funny thing happened earlier,,, my little girl opened a drawer and found a bag of old greek drachmas and she said could she still use them lol. maybe thats a sign.. take care and happy trading
lol very funny
I guess I have some drachmas from 1988
  • #32,604
  • May 27, 2012 1:44pm May 27, 2012 1:44pm
Quoting quidproquo
thanks and good lookin out pip-trapper. I've just seen a couple of times in the last 3 or 4 weeks where the gap failed to fill. So I've heard a virtual "lock" trade is to take 50% of gap as target. Don't know if my information is reliable or not. Anway you expect full closure today?
Personally, I prefer the "filled gap bounce"... in this case that would be a long around 2517... but with the current market conditions, I wouldn't think of placing a limit order there and walking away... though if it sets up just right, and I get that opportunity, I just may take a quick long.

But ya, the filled gap bounce IMO provides a better, RR, generally tighter stops, and I believe a bit higher win rate, pip for pip.

I think PipTrapper is right on for today tho.... I'm long now, looking to get out around 2600-2625ish, and then looking to get short somewhere above 1.2600 to a minimum of 1.2570... but we'll see if that even develops.

Time will tell...

X
  • #32,605
  • May 27, 2012 2:01pm May 27, 2012 2:01pm
I'd stay away from any further assumptions. Break of channel, whether it is upwards or downwards, is the key, as far as I am concerned.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd2.jpg Size: 103 KB
  • #32,606
  • May 27, 2012 2:02pm May 27, 2012 2:02pm
if this was mid week i would be tempted to go long at 12580 for a few pips but its sunday night here in uk and its better to trade mon-thur
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #32,607
  • May 27, 2012 2:08pm May 27, 2012 2:08pm
short at 1.2573....based, in part, on gap
  • #32,608
  • May 27, 2012 2:11pm May 27, 2012 2:11pm
Quoting Paulenok
I'd stay away from any further assumptions. Break of channel, whether it is upwards or downwards, is the key, as far as I am concerned.
I am agree with 100%, but for Bulls I will like also a 1.262 break.
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #32,609
  • May 27, 2012 2:15pm May 27, 2012 2:15pm
your 12620 for the bulls, is this based on data from 25/05/12 approx 09-15, thnxs
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #32,610
  • May 27, 2012 2:18pm May 27, 2012 2:18pm
hello everyone.here is a action reaction chart analyisis...cl=centre line, al action line,rl reaction line.
this trade going to be short to medium term and positional type where i am spreading the position over 250 pips in crecsendo fashion from 1.2500 down.with max risk of 7 to 10 % risk, over 350 pips with risk to reward 1:1.5 and price target of 1.3000 to 1.3080.the idea for this trade is forex is a highly leverage market and now its totally one sided bearish and in this type of bear markets its easy for it to have a correction over 300 to 450 pips.the price target should reach by 6/6/12 and maximum 13/6/12.lets see how it work out.as such i had already initiated two small long positions last week one at 1.2529 and the other at 1.2512. my stops are in the areas of 1.2180 and 1.2150. one more thing in markets if one take least number of desision so much the better for performance.
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Allah has permitted trade and has forbidden interest [koran]
  • #32,611
  • May 27, 2012 2:37pm May 27, 2012 2:37pm
Lloyd's of London preparing for euro collapse

The chief executive of the multi-billion pound Lloyd's of London has publicly admitted that the world's leading insurance market is prepared for a collapse in the single currency and has reduced its exposure "as much as possible" to the crisis-ridden continent.


http://www.telegraph.co.uk/finance/f...-collapse.html
  • #32,612
  • May 27, 2012 2:37pm May 27, 2012 2:37pm
Quoting billytt
your 12620 for the bulls, is this based on data from 25/05/12 approx 09-15, thnxs
23/05/12 support and 24/05/12 resistance
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #32,613
  • May 27, 2012 2:38pm May 27, 2012 2:38pm
Switzerland draws up eurozone collapse action plan

http://l.yimg.com/bt/api/res/1.2/NR8...go/afp/afp.gifAFP – 6 hours ago

http://ca.news.yahoo.com/switzerland...153535951.html
  • #32,614
  • May 27, 2012 2:40pm May 27, 2012 2:40pm
Quoting drzakir123
hello everyone.here is a action reaction chart analyisis...cl=centre line, al action line,rl reaction line.
this trade going to be short to medium term and positional type where i am spreading the position over 250 pips in crecsendo fashion from 1.2500 down.with max risk of 7 to 10 % risk, over 350 pips with risk to reward 1:1.5 and price target of 1.3000 to 1.3080.the idea for this trade is forex is a highly leverage market and now its totally one sided bearish and in this type of bear markets its easy for it to have a correction over 300...
I like the way your thinking about this Drzakir... I think your target is a bit lofty.... but 2500 was the "last chance saloon" to take profits at... and if your filling your bank account about now with the profits you have.... there really isn't another level like this for a ways. Personally, I very rarely target anything over 100 pips (just not my style), but I think you likely spot on with your directional analysis, at least for today.

My only "concern" if you will is a "final stop run" around 2500 might be in the cards today... before a triple digit move up off the lows occurs..

At any rate, it should be a fun day regardless of the market direction.

X
  • #32,615
  • May 27, 2012 2:43pm May 27, 2012 2:43pm
thankyou buddy, my broker just crashed so i cannot look it up
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #32,616
  • May 27, 2012 2:45pm May 27, 2012 2:45pm
Quoting Paulenok
I'd stay away from any further assumptions. Break of channel, whether it is upwards or downwards, is the key, as far as I am concerned.
The way I see it Paul, is that we're challenging a trendline at this moment... a clear move to around 1.2585+ will confirm that... and only a significant price reversal would negate it. I see the range too... and your consideration has good merit... given the current situation I think price will challenge the top of the range before it challenges the bottom...

I could be totally wrong tho, it's the market, after all.

X
  • #32,617
  • May 27, 2012 2:47pm May 27, 2012 2:47pm
wayhay my 2nd broker just crashed
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #32,618
  • May 27, 2012 2:47pm May 27, 2012 2:47pm
Quoting forextraderx
The way I see it Paul, is that we're challenging a trendline at this moment... a clear move to around 1.2585+ will confirm that... and only a significant price reversal would negate it. I see the range too... and your consideration has good merit... given the current situation I think price will challenge the top of the range before it challenges the bottom...

I could be totally wrong tho, it's the market, after all.

X
challenge the top before closing this gap (on my screen anyway)?
  • #32,619
  • May 27, 2012 2:49pm May 27, 2012 2:49pm
Quoting quidproquo
challenge the top before closing this gap (on my screen anyway)?
Just one question guys, who told you that gaps must close?
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #32,620
  • May 27, 2012 2:50pm May 27, 2012 2:50pm
Quoting Luis Carlos
Just one question guys, who told you that gaps must close?
Nobody said they "must" close...just that the likelihood is great...particularly today
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