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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #35,681
  • Jun 11, 2012 9:28am Jun 11, 2012 9:28am
Quoting PipTrapper
Just to be clear, when I said 1.2460/80 area would be hard to crack, I didn't mean price would rebound. My comment was meant to infer that it would most likely stall. So yes, it's a good place to take partial profits, but I woul not be too eager to buy. If it does give a nice bounce, then use it as an opportunity to reload on a fresh short at next resistance... say around 1.2520 or max 1.2550
Yes right but IMO its a good support and then 1.2420-40 , if price manage to break 1.2420 then we might see a new lows for this year....So I will try a long there...
Bulls Run. Bears Bite. We Profit.
  • #35,682
  • Jun 11, 2012 9:36am Jun 11, 2012 9:36am
Quoting FXMindset
order would be cancelled "if" touch 1st
DTL tested/break friday 50%/4H wedge/Correction/Close
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 30 KB
If there was easy money lying around,no one would be forcing it into your
  • #35,683
  • Edited 10:53am Jun 11, 2012 10:38am | Edited 10:53am
[YOUTUBE]XYVYWgEMjzA[/youtube]
Allah has permitted trade and has forbidden interest [koran]
  • #35,684
  • Jun 11, 2012 10:46am Jun 11, 2012 10:46am
what will the euro do next?

i will expect a bounce from 1.2489 area.
i will expect the bounce to go up to at least 1.2547.

what it does after that is anybody's guess.

chart attached:
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-06-11_13-29_OANDA.jpg Size: 63 KB
" It may mean something. It may mean nothing at all "
  • #35,685
  • Jun 11, 2012 10:46am Jun 11, 2012 10:46am
EUR/USD Market Recap 11.06.12


http://4.bp.blogspot.com/-pS-d2pYVOb...ly-eurusd9.JPG Dailyhttp://1.bp.blogspot.com/-qDrFJTahHw...h-eurusd11.JPG 4 hour

Today, market gapped up to 1.2624, which is the resistance zone of the 61.80 % fib retracement and the low of January 2012 (orange line) (EUR/USD Market Recap 07.06.12). Market moved above this resistance (second test) but could not overcome the monthly pivot point at 1.2661. From there, market bounced back and in the following EUR/USD closed the gap from today. On the 4 hour chart we see that the 4-hour candle closing at 12 a.m. GMT respected (closed at) the weekly pivot. Initially after the 4 hour candle closed market breached the weekly pivot point and EUR/USD formed a typical 3-wave consolidation pattern (5 min chart) below the weekly pivot before market resumed its down trend to close today's gap.

http://1.bp.blogspot.com/-GIdLyMogc4...-EurUsd123.JPG 1 hour

On the 1-hour chart we see that EUR/USD also closed at (respected) the daily pivot with the 3 p.m. candle before market initially breached the daily pivot point in the beginning of the next hourly candle.

Market currently found some support at the daily 10 SM


http://forex-chartanalysis.blogspot.de/
  • #35,686
  • Jun 11, 2012 10:50am Jun 11, 2012 10:50am
Quoting PipTrapper
Covering their shorts? No
Going home licking their lips and looking forward to doing the same tomorrow? Yes



.
sorry, dude. i have to disagree to some extent: i expect some short covering-- a bounce from 1.2489 area up to at least 1.2547 minimum. after that i dont know. yes, i expect short covering as stated here:

http://www.forexfactory.com/showthre...35#post5748035

.
" It may mean something. It may mean nothing at all "
  • #35,687
  • Jun 11, 2012 10:54am Jun 11, 2012 10:54am
Quoting FXMindset
order would be cancelled "if" touch 1st
I put my long entry ai 1.2480. it have not triggered
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #35,688
  • Jun 11, 2012 10:58am Jun 11, 2012 10:58am
http://i1264.photobucket.com/albums/...7/pingpong.gif

closed a few shorts gonna wait and let the market decide which way to take this pair, will sell a rally, left a few on the table if it decides to run down more
  • #35,689
  • Jun 11, 2012 11:03am Jun 11, 2012 11:03am
Quoting FXMindset
DTL tested/break friday 50%/4H wedge/Correction/Close
Mr. Fushikawa. I am still long until break 1.2440
Attached Image (click to enlarge)
Click to Enlarge Name: 11.06.PNG Size: 45 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #35,690
  • Jun 11, 2012 11:06am Jun 11, 2012 11:06am
DXY currently testing upper limits of range
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  • #35,691
  • Jun 11, 2012 11:07am Jun 11, 2012 11:07am
Long? Sorry mate, don't see it happening. If it does, I will have better entry for more shorts. Take care, cheers

Attached Image (click to enlarge)
Click to Enlarge Name: hmmn.jpg Size: 91 KB


If s&p 500 closes below 1315, gonna add more shorts.
  • #35,692
  • Jun 11, 2012 11:14am Jun 11, 2012 11:14am
i am long now target 1.2750 and 1.2825
Allah has permitted trade and has forbidden interest [koran]
  • #35,693
  • Jun 11, 2012 11:20am Jun 11, 2012 11:20am
Quoting Luis Carlos
I put my long entry ai 1.2480. it have not triggered
mmm...Maybe I should reconsider this...maybe more low before up... I need to study a little more

We will break 1.267
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #35,694
  • Jun 11, 2012 11:21am Jun 11, 2012 11:21am
Quoting Paulenok
Long? Sorry mate, don't see it happening. If it does, I will have better entry for more shorts. Take care, cheers

Attachment

If s&p 500 closes below 1315, gonna add more shorts.
we will see who is right, wont we?

my levels are long at 1.2489.....i will expect the bounce to go as far as 1.2540ish.

best of luck to you.
" It may mean something. It may mean nothing at all "
  • #35,695
  • Jun 11, 2012 11:24am Jun 11, 2012 11:24am
Loud and clear.

Same plan.

I had a ball today m8.
I caught the wave down @ 264, closed @ 1.254 and reloaded S @ 1.2565 and still holding atm...
If we could go lower than 244 tomorrow I'll have done my month, the rest would be extra




Quoting PipTrapper
Just to be clear, when I said 1.2460/80 area would be hard to crack, I didn't mean price would rebound. My comment was meant to infer that it would most likely stall. So yes, it's a good place to take partial profits, but I woul not be too eager to buy. If it does give a nice bounce, then use it as an opportunity to reload on a fresh short at next resistance... say around 1.2520 or max 1.2550
  • #35,696
  • Jun 11, 2012 11:25am Jun 11, 2012 11:25am
Quoting Luis Carlos
mmm...Maybe I should reconsider this...maybe more low before up... I need to study a little more

We will break 1.267
Do whatever you want based on your own sound reasoning and stick to it. if it fails, it fails; if it works, it works.

dont second guess/hesitate.

once again, my long levels are at 1.2489...i expect price to reach 1.2540ish range.
" It may mean something. It may mean nothing at all "
  • #35,697
  • Jun 11, 2012 11:31am Jun 11, 2012 11:31am
Quoting Skynet
we will see who is right, wont we?

my levels are long at 1.2489.....i will expect the bounce to go as far as 1.2540ish.

best of luck to you.
i am with u skynet i am already in with a small position i am going to add more with time, say if price goes against i will be running with my tail between the legs
Allah has permitted trade and has forbidden interest [koran]
  • #35,698
  • Jun 11, 2012 11:31am Jun 11, 2012 11:31am
At least give yourself a chance not to be stopped out.
If I was long I would put my SL below 1.243.

Quoting Luis Carlos
Mr. Fushikawa. I am still long until break 1.2440
  • #35,699
  • Jun 11, 2012 11:42am Jun 11, 2012 11:42am
Quoting Skynet
sorry, dude. i have to disagree to some extent: i expect some short covering-- a bounce from 1.2489 area up to at least 1.2547 minimum. after that i dont know. yes, i expect short covering as stated here:

http://www.forexfactory.com/showthre...35#post5748035

.
I was wondering why your analysis is for a short covering on of all days, Monday? What is the driver or reason for the short covering? Is it just from a technical perspective? Other then that, I just don't see it happening. If it does, it'll just give us another opportunity to short. I just don't expect it to be much of one.
  • #35,700
  • Jun 11, 2012 11:44am Jun 11, 2012 11:44am
as much as I'm enjoying this ride, DXY looks pretty tired from filling the gap all morning
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