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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #39,261
  • Jun 22, 2012 7:44am Jun 22, 2012 7:44am
So much for the wishes of Hollande. Rajoy and Monti. Merkel spoiled the party... again.

http://www.cartoonstock.com/newscart...s/jlvn356l.jpg

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Those who say it cannot be done should not interrupt those who are doing it
  • #39,262
  • Jun 22, 2012 7:45am Jun 22, 2012 7:45am
Quoting Polkm
Hi there,

i'm one of those silent readers of the thread trying to grasp knowledge and new insights.

Great thread you got here PT: wish you would open the range for other pairs

I have Sell limit orders on 1.2570/90/600. None activated....

That area 50%;38.2% Fibo might have some bumps on the downward slope.

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Well: got filled on the 1st one at 2570. My guess is that will be the only one.
  • #39,263
  • Jun 22, 2012 7:47am Jun 22, 2012 7:47am
Quoting PipTrapper
So much for the wishes of Hollande. Rajoy and Monti. Merkel spoiled the party... again.

http://www.cartoonstock.com/newscart...s/jlvn356l.jpg

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It's all coordinated for trading I swear. Can't make money without volatility and range, which requires giving addicts their hopium, then taking it away immediately. Note the 200 pips worth of swings in the last 2 hours. 50 up, 30 down, 30 up, 50 down. Not to mention the 10 pip swings.

I'm starting to get a crush on Merkel, she makes me lots of green pips
An opportunity lost is not a capital cost.
  • #39,264
  • Jun 22, 2012 7:48am Jun 22, 2012 7:48am
Quoting changbachang
i always not sure about pattern like that in cfd, i must see bloomberg/cnbc before trade cfd xD
It's didn't close the 15M chandle above $79 and is going down again. Didn't take trade.
I observe your reality but live my own.
  • #39,265
  • Jun 22, 2012 7:48am Jun 22, 2012 7:48am
think we'll break 1.253? seems to have historical support
  • #39,266
  • Jun 22, 2012 7:49am Jun 22, 2012 7:49am
Quoting Polkm
Well: got filled on the 1st one at 2570. My guess is that will be the only one.
Congrats on getting filled at least one position.
Yep... It seems the that they've run out of hopium for today.
Now we need to get through the 1.2500 support.
If we're to get our usual 130 to 180 pips for the daily range, 1.2500 will give way. Otherwise we're doomed to a small range into the close.
There's always Monday though.
Those who say it cannot be done should not interrupt those who are doing it
  • #39,267
  • Jun 22, 2012 7:49am Jun 22, 2012 7:49am
Quoting -er-
hi

why u taking short from there?(pin bar?lower low?)
price action

edit1: i still look into it , not sure its hs formation or not
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #39,268
  • Jun 22, 2012 7:49am Jun 22, 2012 7:49am
hope so bro - sold the crap out of it on that rally..

Quoting neuron
think we'll break 1.253? seems to have historical support
"Millionaires don't use astrology, billionaires do"
  • #39,269
  • Jun 22, 2012 7:52am Jun 22, 2012 7:52am
Quoting forex_growth
hope so bro - sold the crap out of it on that rally..
nice, i sold the rally as well, i dont trade gartley exclusively but like to use it as a confirmation, made a nice butterfly
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  • #39,270
  • Jun 22, 2012 7:53am Jun 22, 2012 7:53am
Lots of support down here. Hard to imagine a break of 1.25 today.

50 fib from the whole correction is at 1.2517
An opportunity lost is not a capital cost.
  • #39,271
  • Jun 22, 2012 7:53am Jun 22, 2012 7:53am
Quoting neuron
think we'll break 1.253? seems to have historical support
1.2530 is not the problem. 1.2518 will be the key. As far as I'm concerned, demand at 1.2530 has already been absorbed today.
Those who say it cannot be done should not interrupt those who are doing it
  • #39,272
  • Jun 22, 2012 7:58am Jun 22, 2012 7:58am
Quoting neuron
nice, i sold the rally as well, i dont trade gartley exclusively but like to use it as a confirmation, made a nice butterfly
Nice move. Congrats

Now I hope this sucker falls like a ton of bricks coz I've gone and loaded up on shorts like a kid in a candy store the last two weeks.

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Those who say it cannot be done should not interrupt those who are doing it
  • #39,273
  • Jun 22, 2012 8:00am Jun 22, 2012 8:00am
Quoting PipTrapper
Nice move. Congrats

Now I hope this sucker falls like a ton of bricks coz I've gone and loaded up on shorts like a kid in a candy store the last two weeks.

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nice!
  • #39,274
  • Jun 22, 2012 8:03am Jun 22, 2012 8:03am
Quoting BFSGcapital
Lots of support down here. Hard to imagine a break of 1.25 today.

50 fib from the whole correction is at 1.2517
Not really that hard to imagine.
Just pretend 1.2420 is a doughnut and repeat to yourself "Mmmmm Doughnuts" several times

Here's some inspiration:

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Those who say it cannot be done should not interrupt those who are doing it
  • #39,275
  • Jun 22, 2012 8:06am Jun 22, 2012 8:06am
gpus ,well it reach that yesterday zone lvl
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redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #39,276
  • Jun 22, 2012 8:07am Jun 22, 2012 8:07am
nice chart!!

cable is what Im short in today also - along with gold n silver again

Quoting changbachang
gpus ,well it reach that yesterday zone lvl
"Millionaires don't use astrology, billionaires do"
  • #39,277
  • Jun 22, 2012 8:11am Jun 22, 2012 8:11am
Quoting PipTrapper
Congrats on getting filled at least one position.
Yep... It seems the that they've run out of hopium for today.
Now we need to get through the 1.2500 support.
If we're to get our usual 130 to 180 pips for the daily range, 1.2500 will give way. Otherwise we're doomed to a small range into the close.
There's always Monday though.

Thx!

if this was not friday i would force another short (smaller), but late sundays after all-fixing-summits (!) tend to be turbulent. I'll wait.

I agrre w/ the higher probability of the broken channel (+ that double top you mentioned) sending € sharply down.
Next week will have reloading days on yet another mother-of-all-summits...


Great to see that confidence on all those sell trades on your chart.



Hope those find their targets!
  • #39,278
  • Jun 22, 2012 8:15am Jun 22, 2012 8:15am
Quoting PipTrapper
Not really that hard to imagine.
Just pretend 1.2420 is a doughnut and repeat to yourself "Mmmmm Doughnuts" several times

Here's some inspiration:

http://www.youtube.com/watch?v=8-4P1WPE-Qg
I always say things like its hard to imagine. Also, bias from not having a short in play.

Especially when I see price moving straight in on direction. This is the absolute worst. Not even 5 pip retraces.

However, the pair is trading as if it's the last chance to get shorts this high.

I've been trying to get short on a retrace but we only had one, and that was 1.2544 to 1.2554. That was my only chance and I missed it.

Hoping now we get a retrace now and I'll add a short, hopefully at 1.2540
An opportunity lost is not a capital cost.
  • #39,279
  • Jun 22, 2012 8:27am Jun 22, 2012 8:27am
Quoting PipTrapper
1.2608 is the 50% fibo.
Perhaps you should reconsider your stop, but then you're the one who knows your risk limits best. I'm just sayin'
Ya the risk tolerance is important... I did not scale into that short from 2558 so I had to let the SL be


Luckily it seems it will be a non-issue as the trade is playing out


A close sub 2502 on the week keeps me bearish

Working my real job so I'm on the road all day managing my trades by phone calls to my broker
  • #39,280
  • Jun 22, 2012 8:29am Jun 22, 2012 8:29am
Bear flag on hourly from yesterday on high volume and retrace to lower trend line. This is a nice example of confirmation followed by a throw back. Was hoping for higher myself to add to short, but alas it wasn't to be (for now). This is Friday and typically a slow day. Monday things may change.

The books say that a calculated target on a Flag formation is the length of the pole (highlighted in chart). This represents 166 pips. If retrace does occur (which it did), then calculated move down is from the retracement. In this case, down 166 pips from 1.2580 making the calculated move down to 1.2414.

Let's see if this plays out...
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I observe your reality but live my own.
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