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  • #14,761
  • May 30, 2012 2:30am May 30, 2012 2:30am
Hey guys,

Todays intraday resistance is 2508. SHorting as close to 2508 is recommended. Target is 2450 and 2420 subsequently.

Important levels are:

MEDIAN 2467

BULLS: 2473 2480 2485 2492 (LPH)

BEARS: 2458 2454 2449 2442 (LPL)

Only the break of LPH and LPL will print new levels.
  • #14,762
  • May 30, 2012 2:40am May 30, 2012 2:40am
Morning T. I am holding AUD/USD short atm.
Reasons for entry (except from downtrend):
1. 0.98 round number changed from support to resistance
2. break, pullback, continuation from red TL

when (if) it breaks 0.9768 (daily low) - SL will go to BE, targeting 0.97
Attached Image (click to enlarge)
Click to Enlarge Name: aud short.gif Size: 25 KB
  • #14,763
  • May 30, 2012 2:43am May 30, 2012 2:43am
SL to BE... and these doji candles previously didnt hurt as well
+34 and +25 now
  • #14,764
  • May 30, 2012 2:43am May 30, 2012 2:43am
Fast sell off @ 2465, trend is repected to the core. Only minor retracements are possible as this is more to EUR weakness then USD strength.
  • #14,765
  • May 30, 2012 2:47am May 30, 2012 2:47am
Quoting AlexC
Hi T.
USDX tagged the 61.8% from monthly hi-low fib retracement.
Lets see how it reacts.
Quoting Chika Kure
SL to BE... and these doji candles previously didnt hurt as well
+34 and +25 now
Longing EU today is risky if its not scalp or swing scalp, the best is to concentrate on levels then put stop just around there and short. Selling rallies is the name of the game. 2380-50 is important zone.

Today as we can see 2442 is broken then rejected, door to 2420 is opened.
  • #14,766
  • May 30, 2012 3:28am May 30, 2012 3:28am
Trend trading and following so far. Rejection from 2460 level then 2442.

We are in trend range, scalping has been perfect today.
  • #14,767
  • May 30, 2012 3:37am May 30, 2012 3:37am
Quoting T@rantula
Rejection from 2460 level then 2442.
Yes, B-P-C of Yesterday low level. I was just wandering did you short it from there...
  • #14,768
  • May 30, 2012 3:39am May 30, 2012 3:39am
Looking @ m5 we could see a momentum shift. Price is consolidating and no LH has been made.

We could see a jump before next leg down.
  • #14,769
  • May 30, 2012 3:44am May 30, 2012 3:44am
Quoting Chika Kure
Yes, B-P-C of Yesterday low level. I was just wandering did you short it from there...
Those were the trades I took in shorting EU today, 2464>2449 2458>2442
as you can see on the chart. I have dragged the trades on the chart to display it.

Both were low risk, leveraged trades based on trend following

Attached Image (click to enlarge)
Click to Enlarge Name: eusc.jpg Size: 50 KB
  • #14,770
  • May 30, 2012 4:22am May 30, 2012 4:22am
TP1 @ 0.9750 hit. 1/3 banked for 50 pips. Aprox. holded for 2.5 hours.

TP2 - for 2/3 entered at 0.97913 is 0.9705. Could bank 1/3 along the way if needed.
Attached Image (click to enlarge)
Click to Enlarge Name: aud short tp1.gif Size: 25 KB
  • #14,771
  • May 30, 2012 4:23am May 30, 2012 4:23am
Italian 10 year bond yield advances to 6% as Italy auctions debt.30 May 11:20:18

addon - that is bad... more down for euro, and other usd pairs IMO
  • #14,772
  • May 30, 2012 4:34am May 30, 2012 4:34am
Quoting Chika Kure
TP1 @ 0.9750 hit. 1/3 banked for 50 pips. Aprox. holded for 2.5 hours.

TP2 - for 2/3 entered at 0.97913 is 0.9705. Could bank 1/3 along the way if needed.
well done m8!
  • #14,773
  • May 30, 2012 6:02am May 30, 2012 6:02am
what is this now ???????????????????????????????????

45 pips in one minute up... wtf
  • #14,774
  • May 30, 2012 6:04am May 30, 2012 6:04am
Quoting T@rantula
Today as we can see 2442 is broken then rejected, door to 2420 is opened.
U see 2425 reaction...2425>2470 in 5 mins, stops were collected.

Thats why I dont trade in these hours. If u follow my posts u know that 12 gmt is partially profit taking hour/consolidation time.
  • #14,775
  • May 30, 2012 6:08am May 30, 2012 6:08am
well that was total BS... and short lived also. For now.
  • #14,776
  • May 30, 2012 6:34am May 30, 2012 6:34am
Quoting Chika Kure
well that was total BS... and short lived also. For now.
http://www.forexlive.com/blog/2012/0...apitalisation/

Im paying attention to momentum shifts
  • #14,777
  • May 30, 2012 6:39am May 30, 2012 6:39am
E:2447
SL:2430
TP:2480
Tp2:2500

Counter swing trade-position trade, 1/2 normal lot size also due to non trading hours...
  • #14,778
  • May 30, 2012 6:42am May 30, 2012 6:42am
Quoting T@rantula
E:2447
SL:2430
TP:2480
Tp2:2500

Counter swing trade-position trade, 1/2 normal lot size also due to non trading hours...
2460 small scaling out, Final target 2480 due to scaling out, I dont like 2460 being rejected so many times.
  • #14,779
  • May 30, 2012 6:46am May 30, 2012 6:46am
Quoting T@rantula
2460 small scaling out, Final target 2480 due to scaling out, I dont like 2460 being rejected so many times.
EU@ 2465 im more relaxed now
  • #14,780
  • May 30, 2012 7:04am May 30, 2012 7:04am
Quoting T@rantula
2460 small scaling out, Final target 2480 due to scaling out, I dont like 2460 being rejected so many times.
Quoting T@rantula
EU@ 2465 im more relaxed now
Only 13 pips from this trade. Price has again been rejected this time from 66.

I do not neglect the possibility of another attempt up..
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