Spider's Den

Greek elections are on Sunday so i wont be trading much today.

I'm spending all my day adding new Elliott Wave count to the blog and just observing market.

Flat into the weekend anyway, will enjoy EURO2012 games instead worrying about my open orders.

Take care,
Seb

long 2627.. stop 2610.. mainly on usdx and EUx

move stop 2620

Closed 2646.. +19.. reason mth mid is 2651..i missed it.. its were it has hit current resistance

Good candle 5 min above 2651 i am long again..

Good morning all, Im a bit late today as I needed some sleep.

Yesterday when I returned from the weekend I saw EU jumped to highs. Thats was a move initiated by Greek elections.

Today I am seeing a totally different situation where EU fell down again closing "retail gap" and even more.

Need to do some analysis. It may be Monday usual move where we will have another push to the upside later.

Remember 2575 is VERY important again as it acts as a MAJOR support to the Bulls ( short/mid-term)

long again..2648..1hr.. EU

Picture USDx 1 hr at resistance

I have 2701 as median point and 2635 as LPL.

SO we may see another push up but 2661 is the first obstacle EU needs to pass.

Thats where we are 2630 interim support then 2620. Today day is bearish, and we are having swings up ( retracements) then swings down.

Its very hard to pinpoint the move ATM, would like to see clearer direction for EU. On shorter TFs, its also risky to trade because we have made full ATR for this day.

When i notice that ATR has been full or overshot or/and that a currency pair has made a lot of movement during London...i simply WAIT.

WAIT for LO/NY cross session then i resume trading. Remember: Sometimes NOT having a position is the same as HAVING a profitable position

out minus 28

2615 is support now, better to wait clearer direction. If EU manages to stay above 2615 ( full ATR stop) we go up. It might be the case now.

2575 as previously said is very strong area and bulls need to defend it heavily.

well said mate, i am buying this dips......... 2570

If it dips there im buying it too.

How about aussie ......... the shade area...........as in pic.. the big number with multi support around?
There another buy the dips.....

I am taking one on 50 % fib at 2593 too

I missed the aussie today but its better to trade it, still staying flat..waiting for reverse or continuation but im not eager to short into supports now.

I cant pick it at all.. if i was to have a guess.. i am thinking 2500...2470..like i said a guess..

It retraces soo slowly this is sell off, waiting for 2575 first. It would b strange if it breaks fast..

T....retrace so slowly..MMM must all ways keep that in mind..so clear isnt it? really.. when that is happening..