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  • #14,861
  • Jun 6, 2012 2:16am Jun 6, 2012 2:16am
To me only a move above 1,2535 will cancel the bearish move.
We are still in bearish territory until it's broken for good.

Probability trades are on the downside until then.

A strong H1 move below 1,2490 and we're in for some pips down.

But after such a big move down, my eyes on are the upside for the next few days.
COT: The precious data ignored
  • #14,862
  • Jun 6, 2012 2:48am Jun 6, 2012 2:48am
Quoting kuroro001
To me only a move above 1,2535 will cancel the bearish move.
We are still in bearish territory until it's broken for good.

Probability trades are on the downside until then.

A strong H1 move below 1,2490 and we're in for some pips down.

But after such a big move down, my eyes on are the upside for the next few days.
Hey Kuroro

Yes if we have 2545 ( very important level) and we break it we will go to 2600-20, but looking on higher TFs its still a part of retracement in downtrend.

Anyway if we reach 2620 i will make additional analysis what should we pay attention to next. Im not sure if bearish trend would be cancelled but surely retracement is needed this time on higher Tfs.

Close below 2490 could give us another DPP retest and as you said some pips down.
  • #14,863
  • Jun 6, 2012 3:04am Jun 6, 2012 3:04am
Hi all, if we are going up today it will be because of short covering. Draghi speech and inteterest rate (cut?) are very important.

Tomorrow could be similar with dollar bulls covering.
So all in all I'd like to see some momentum up but we are pretty much in a downtrend still

Quoting T@rantula
Hey Kuroro

Yes if we have 2545 ( very important level) and we break it we will go to 2600-20, but looking on higher TFs its still a part of retracement in downtrend.

Anyway if we reach 2620 i will make additional analysis what should we pay attention to next. Im not sure if bearish trend would be cancelled but surely retracement is needed this time on higher Tfs.

Close below 2490 could give us another DPP retest and as you said some pips down.
  • #14,864
  • Jun 6, 2012 3:55am Jun 6, 2012 3:55am
Based on what i see on UDx and EUx iam short 2498
  • #14,865
  • Jun 6, 2012 5:21am Jun 6, 2012 5:21am
Quoting danc
Based on what i see on UDx and EUx iam short 2498
out+17 i am sick of it it wont run.. here picture
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  • #14,866
  • Jun 6, 2012 5:24am Jun 6, 2012 5:24am
well done.
I am still on the buy the dips mode
Quoting danc
out+17 i am sick of it it wont run.. here picture
  • #14,867
  • Jun 6, 2012 5:28am Jun 6, 2012 5:28am
Quoting danc
Based on what i see on UDx and EUx iam short 2498
Put stop on BE or take the profits, soon we may get spikes.
Quoting danc
out+17 i am sick of it it wont run.. here picture
I have just read the post. Good!
  • #14,868
  • Jun 6, 2012 5:33am Jun 6, 2012 5:33am
Risky speech....Sentiment vs Technicality...
  • #14,869
  • Jun 6, 2012 5:44am Jun 6, 2012 5:44am
I am flat now.

Reason: Sentiment and speech is very dovish and technicals are hawkish.

There will be a battle, bears will try to negate the techs and push it down.
  • #14,870
  • Jun 6, 2012 7:16am Jun 6, 2012 7:16am
I don't like seeing hourly bullish engulfing candle ending in a major resistance area.
You guys have a major support near 1,2440 ? i don't see anything
COT: The precious data ignored
  • #14,871
  • Jun 6, 2012 12:10pm Jun 6, 2012 12:10pm
Well, it has become some kind of minor support since 8pm yesterday on H4. Previously, it was a minor Res on my chart.
I bought the dip but only after confirmation with my system, which lead me to enter at 1.2485 only. I'll let it run overnight.

AS I said, this is only covering shorts on Euro but I expect more covering longs on USDx tomorrow. if 1.264 breaks, we could revisit 1.283 area.
I'm looking at weekly and we potentially have a nice pattern in play there.

The difficulty will be to know how far up it will go before the dive...


Quoting kuroro001
I don't like seeing hourly bullish engulfing candle ending in a major resistance area.
You guys have a major support near 1,2440 ? i don't see anything
  • #14,872
  • Jun 6, 2012 3:24pm Jun 6, 2012 3:24pm
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Well I have done my part of the trading today, missed EU after conference move ( already was positive ) but im glad that analysis has been very correct.

Technicals have won vs sentiment again and 2580 has been touched as I previously stated many times.

I feel sorry for the traders who trade with bias and have faded the trend these last two days. Well read Spider's Den, thats my advice so u wont lose much and u will profit enough

Thank you for your support guys, couldnt do it w/o you, great trading and thoughts from your part just confirm my analysis.
  • #14,873
  • Jun 7, 2012 12:28am Jun 7, 2012 12:28am
Hello guys, market has reached 2585, I still see 2620 as the target but due to auctions we may see some spikes in both directions. Still buy the dips favored.
  • #14,874
  • Jun 7, 2012 1:31am Jun 7, 2012 1:31am
It seems market is waiting for auction results, no movement except the first breakout to the upside @ 40-70
  • #14,875
  • Jun 7, 2012 1:40am Jun 7, 2012 1:40am
40-70 range, stuck. Still buy the dips favored but pay attention to levels and PP.
  • #14,876
  • Jun 7, 2012 1:51am Jun 7, 2012 1:51am
Auctions results are pretty good but damn that 2560! Someone's toying with it.

EU should break the range.
  • #14,877
  • Jun 7, 2012 2:08am Jun 7, 2012 2:08am
Yes, I also see 2620 as target. I have a nice long squeeze/bullflag on H4
If 2620 is broken, we'll see 2680 today


But all this is only a short covering....

Quoting T@rantula
Hello guys, market has reached 2585, I still see 2620 as the target but due to auctions we may see some spikes in both directions. Still buy the dips favored.
  • #14,878
  • Jun 7, 2012 2:18am Jun 7, 2012 2:18am
Quoting BrunargarFx
Yes, I also see 2620 as target. I have a nice long squeeze/bullflag on H4
If 2620 is broken, we'll see 2680 today


But all this is only a short covering....
Yes, I would like to see 2620, but just notice how hard is to move 10 by 10. It makes me close some of my positions, still 1 left running
  • #14,879
  • Jun 7, 2012 2:26am Jun 7, 2012 2:26am
Long this at 5473..
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  • #14,880
  • Jun 7, 2012 2:30am Jun 7, 2012 2:30am
Long this at 2566
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