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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #38,861
  • Jun 21, 2012 8:55am Jun 21, 2012 8:55am
Out +70 just below Daily S1. Reason; a) below 1.2650 which was one of the option expiry numbers, b) 5M and 15M TDI now oversold, c) top of the hour and about to start new candle which I expect a re-trace to test the lower channel of the bull flag, d) hey, 70 points is good
I observe your reality but live my own.
  • #38,862
  • Jun 21, 2012 8:56am Jun 21, 2012 8:56am
Knew I should have scalped 1.2620 w/ stop at 2615, it was a psych level (previous yearly low before 1.228) + oversold on 1 min

How come once lots of volume comes in, it doesn't slow down for a while? Just all of a sudden all the banks know that "its on" and they start making lots of trades?

I love market moves this fast, when every 1 minute candle = 2-5 pips at in size at least
An opportunity lost is not a capital cost.
  • #38,863
  • Jun 21, 2012 8:57am Jun 21, 2012 8:57am
back online and closing down few things... just spoke to my biz partner as we have a company account also.. hee hee - and we're withdrawing funds as we speak and looking to another broker

SIGH! but life goes on and we all still smile so its all good


Quoting Tom_D_Trader
Wow, now thats sick. Change broker before he goes bankrupt .

edit: Btw I hope you are short, we are just tanking down.
LUCKILY = was short wheeeeeeeeeeeeeee
"Millionaires don't use astrology, billionaires do"
  • #38,864
  • Jun 21, 2012 8:58am Jun 21, 2012 8:58am
Headed towards 1.2580 at the weekly pivot
  • #38,865
  • Jun 21, 2012 9:02am Jun 21, 2012 9:02am
Philly fed fell off the cliff @ -16.6.
  • #38,866
  • Jun 21, 2012 9:02am Jun 21, 2012 9:02am
Good news for CAD bears
An opportunity lost is not a capital cost.
  • #38,867
  • Jun 21, 2012 9:03am Jun 21, 2012 9:03am
took the words right out of my mouth bro!!


Quoting ferndog
Headed towards 1.2580 at the weekly pivot
"Millionaires don't use astrology, billionaires do"
  • #38,868
  • Jun 21, 2012 9:04am Jun 21, 2012 9:04am
Barclays says ECB will cut rates 50 basis points in July. Guess we'll see.
  • #38,869
  • Jun 21, 2012 9:05am Jun 21, 2012 9:05am
Quoting BFSGcapital
Good news for CAD bears
yep

Attached Image (click to enlarge)
Click to Enlarge Name: uc-h1.gif Size: 51 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #38,870
  • Jun 21, 2012 9:07am Jun 21, 2012 9:07am
Quoting FXSwissTrader
Barclays says ECB will cut rates 50 basis points in July. Guess we'll see.
They will cut. Not sure about 50 basis points. Maybe 25 in July and another 25 in August or September. ECB likes to move slowly.
Those who say it cannot be done should not interrupt those who are doing it
  • #38,871
  • Jun 21, 2012 9:15am Jun 21, 2012 9:15am
Hi PT! I was looking to short EUR/USD..., patiently waiting for a better entry-point (now obviously way too long) - and now I have to watch it going down without me...http://www.forexfactory.com/images/icons/icon9.gif ...kicking my ass...
Itīs probably a stupid question...but do you think itīs still a good idea to go short here around 1,26 ...or better wait for a higher entry point... ? - Thanks!
  • #38,872
  • Jun 21, 2012 9:18am Jun 21, 2012 9:18am
1.26 is also correction bull channel. testing it right now expecting a bounce soon as we are over sold.

Maybe we just go to 1.258 before any sort of bounce.
An opportunity lost is not a capital cost.
  • #38,873
  • Jun 21, 2012 9:20am Jun 21, 2012 9:20am
Quoting BFSGcapital
1.26 is also correction bull channel. testing it right now expecting a bounce soon as we are over sold.

Maybe we just go to 1.258 before any sort of bounce.
1.25992 is 200SMA on hourly. If this breaks and holds on the hourly, watch out. Free fall time!
I observe your reality but live my own.
  • #38,874
  • Jun 21, 2012 9:21am Jun 21, 2012 9:21am
Quoting berky
Hi PT! I was looking to short EUR/USD..., patiently waiting for a better entry-point (now obviously way too long) - and now I have to watch it going down without me...http://www.forexfactory.com/images/icons/icon9.gif ...kicking my ass...
Itīs probably a stupid question...but do you think itīs still a good idea to go short here around 1,26 ...or better wait for a higher entry point... ? - Thanks!
1.2590 is rising channel support. We may get a bounce up from here.

If we break below 1.2590, we need to wait for an H1 candle close below for confirmation and then a pullback to retest that channel support as resistance. That would be a good place to short with an excellent risk:reward ratio.

Certainly not good to short from here.
Those who say it cannot be done should not interrupt those who are doing it
  • #38,875
  • Jun 21, 2012 9:22am Jun 21, 2012 9:22am
Quoting BFSGcapital
1.26 is also correction bull channel. testing it right now expecting a bounce soon as we are over sold.

Maybe we just go to 1.258 before any sort of bounce.

Bottom today should be around 1.2565/75 area if we break 1.26.
  • #38,876
  • Jun 21, 2012 9:24am Jun 21, 2012 9:24am
By the way, what was the catalyst for E/U tanking?? Apart from monthly pivot giving out.

Was it the NY opening??
An opportunity lost is not a capital cost.
  • #38,877
  • Jun 21, 2012 9:26am Jun 21, 2012 9:26am
Quoting BFSGcapital
By the way, what was the catalyst for E/U tanking?? Apart from monthly pivot giving out.

Was it the NY opening??
The compression trade.
Those who say it cannot be done should not interrupt those who are doing it
  • #38,878
  • Jun 21, 2012 9:26am Jun 21, 2012 9:26am
Soo PT, how patient are you with this bear? (E/U)
  • #38,879
  • Jun 21, 2012 9:28am Jun 21, 2012 9:28am
Quoting PipTrapper
The compression trade.

Do you think you could explain that a bit more, if its not too much trouble? Or give me a link that explains it well

Thanks PT
An opportunity lost is not a capital cost.
  • #38,880
  • Jun 21, 2012 9:28am Jun 21, 2012 9:28am
Quoting hunter101
Soo PT, how patient are you with this bear? (E/U)
As patient as I have to be. Patience always pays off and I have a history to prove it.
Those who say it cannot be done should not interrupt those who are doing it
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