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  • #660,901
  • Jun 21, 2012 8:56pm Jun 21, 2012 8:56pm
Quoting pkimnyc
looks to me like a typical consolidation. odds are probably higher on continuation.
Dear pkimnyc,

Yes, from 21 GMT they are gaining slowly in a tight range, and yesterday low is intact. It can give us some clue...

Best regards,
Pico.
  • #660,902
  • Jun 21, 2012 9:01pm Jun 21, 2012 9:01pm
Can any one guide me S/R Level currently
  • #660,903
  • Jun 21, 2012 9:05pm Jun 21, 2012 9:05pm
Quoting Meganathan
Can any one guide me S/R Level currently
Daily, Weekly, or Monthly?
Time turns trend. - W.D. Gann
  • #660,904
  • Jun 21, 2012 9:05pm Jun 21, 2012 9:05pm
Quoting Meganathan
Can any one guide me S/R Level currently
Dear Maganathan,

For support you can use the daily low as reference - 1.2541.
If during start of the European Session, it go bellow that and back above in less than 30 minutes, will indicate a stop hunt, so you can buy along with them...

Best regards,
Pico.
  • #660,905
  • Jun 21, 2012 9:11pm Jun 21, 2012 9:11pm
http://www.forexlive.com/blog/2012/06/22/interesting-turn-of-phrase-from-lagarde/

Quote
Interesting turn of phrase from Lagarde

By Adam Button || June 22, 2012 at 01:28 GMT
|| 7 comments || Add comment
The IMF’s Lagarde today criticized the plan to bail out Spanish banks because it places the liability at the foot of the government.

The euro zone needs to quickly set up a mechanism that allows it to directly recapitalize weak banks, “in order to break the negative feedback loop that we have between banks and sovereigns,” IMF Managing Director Christine Lagarde said after a meeting with the bloc’s finance ministers in Luxembourg.

From the G20 statement:

Euro Area members of the G20 will take all necessary policy measures to safeguard the integrity and stability of the area, improve the functioning of financial markets and break the feedback loop between sovereigns and banks.

The near-identical phrase and the upbeat tone at the G20 leads me to believe that plans are moving behind the scenes. I don’t sense the same type of fear from European leaders we saw in Oct 2011.
The thing is, Europe is completely incapable of keeping a secret so something should be leaking out soon. The bar is very low. If the EU summit can put together the framework of a plan, the upside in the euro and commodity currencies is enticing, especially after today’s (overdone) selloff.
  • #660,906
  • Jun 21, 2012 9:13pm Jun 21, 2012 9:13pm
Quoting pico_zeh
Dear Maganathan,

For support you can use the daily low as reference - 1.2541.
If during start of the European Session, it go bellow that and back above in less than 30 minutes, will indicate a stop hunt, so you can buy along with them...

Best regards,
Pico.
Thank you bro
  • #660,907
  • Jun 21, 2012 9:21pm Jun 21, 2012 9:21pm
Quoting ForExtraPips
Daily, Weekly, or Monthly?
I need all three bro S/R bro. Thanks for valuable comments

Regards,
Megan
  • #660,908
  • Jun 21, 2012 9:23pm Jun 21, 2012 9:23pm
Quoting pkimnyc
looks to me like a typical consolidation. odds are probably higher on continuation.
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  • #660,909
  • Jun 21, 2012 9:26pm Jun 21, 2012 9:26pm
We don't want to hold position for a long time before see the profit, right? So wait for the quick moves! As we know very well, quick moves are false moves, and you can increase the accuracy if you wait for them to shake the market before you enter. Also always remember to wait for it stop to cut the high or the low for at least 30 minutes to take a safer position...

Best regards,
Pico.
  • #660,910
  • Jun 21, 2012 9:30pm Jun 21, 2012 9:30pm
Quoting Meganathan
Can any one guide me S/R Level currently

if r looking for s1,s2 ..........
http://www.actionforex.com/markets/p...2010040848154/
Mohan
  • #660,911
  • Jun 21, 2012 9:38pm Jun 21, 2012 9:38pm
Quoting Meganathan
I need all three bro S/R bro. Thanks for valuable comments

Regards,
Megan
Some traders use indicators that do it for them. I just add them up myself. Take yesterday's daily, for example. The big red candle on the chart below. I just take the high and the low, add the two, then divide it by two. Then you'll have your pivot point. Then add the pivot point with the high, and divide it by two, and you have your next resistance point. Then add the pivot point with the low and you have your next support line. Then add that line to the next line above it, and divide it by two. And add that same line to the line below it, and divide it by two. Instead of having something or someone do it for you, I just think it's better to learn how it's done, so that way, if your indi or website, that does it for you, isn't working, you'll be able to do it yourself and understand how it's done. Then go to the weekly candle and monthly candle and do the same thing. Then you'll have your S/R and PP ready to go. GL
Attached Image (click to enlarge)
Click to Enlarge Name: d1pivot.jpg Size: 77 KB
Time turns trend. - W.D. Gann
  • #660,912
  • Jun 21, 2012 9:42pm Jun 21, 2012 9:42pm
Quoting kill56
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  • #660,913
  • Jun 21, 2012 9:53pm Jun 21, 2012 9:53pm
Good morning guys,
4:51 AM here in Spain, what can we expect for today?
I think we will see a pullback to the Pivot point and later a new fall of 100+ pips
  • #660,914
  • Jun 21, 2012 9:57pm Jun 21, 2012 9:57pm
Strange move yesterday.... the way how risk is flying out the window from the start of London... i wonder what triggered it....
i mean to me the move looked rather dramatic given the fact we know Europe is in trouble 2 months back....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #660,915
  • Jun 21, 2012 9:57pm Jun 21, 2012 9:57pm
halo seniors

where goes euro today?

  • #660,916
  • Jun 21, 2012 9:58pm Jun 21, 2012 9:58pm
Quoting Itrade24h
Good morning guys,
4:51 AM here in Spain, what can we expect for today?
I think we will see a pullback to the Pivot point and later a new fall of 100+ pips
Dear Itrade24h,

I'm expecting some gains for today.

Best regards,
Pico.
  • #660,917
  • Jun 21, 2012 10:04pm Jun 21, 2012 10:04pm
Back from work,
As many traders are holding longs,will they hold over the weekend.
What will happen to the price,this pair can retrace very quickly an it will.
Pretty sure all the little Ma n Pa Kettles will be doing small little spends.
There will be some players that will push this back up.
Interesting to see what happens Monday,some crappy news will drive this back up.
  • #660,918
  • Jun 21, 2012 10:06pm Jun 21, 2012 10:06pm


and watch the PA on the lower TFs there... That's about it...

Quoting ForExtraPips
Some traders use indicators that do it for them. I just add them up myself. Take yesterday's daily, for example. The big red candle on the chart below. I just take the high and the low, add the two, then divide it by two. Then you'll have your pivot point. Then add the pivot point with the high, and divide it by two, and you have your next resistance point. Then add the pivot point with the low and you have your next support line. Then add that line to the next line above it, and divide it by two. And add that same line to the line below it, and...
  • #660,919
  • Jun 21, 2012 10:09pm Jun 21, 2012 10:09pm
Quoting bguguen
Strange move yesterday.... the way how risk is flying out the window from the start of London... i wonder what triggered it....
i mean to me the move looked rather dramatic given the fact we know Europe is in trouble 2 months back....
Possible happened moves:

1º - EURO dipped, traders took short position - breakout (players took long);
2º - EURO gained, traders turned long - price action (players offloaded long and built short);
3º - EURO dropped, some traders tried to average long and others shorted (players took profit on short and accumulate long);

What next? You can try to predict....

Best regards,
Pico.
  • #660,920
  • Jun 21, 2012 10:10pm Jun 21, 2012 10:10pm
Quoting ForExtraPips
Some traders use indicators that do it for them. I just add them up myself. Take yesterday's daily, for example. The big red candle on the chart below. I just take the high and the low, add the two, then divide it by two. Then you'll have your pivot point. Then add the pivot point with the high, and divide it by two, and you have your next resistance point. Then add the pivot point with the low and you have your next support line. Then add that line to the next line above it, and divide it by two. And add that same line to the line below it, and...
Thank you for your valuable tech bor
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