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  • #662,621
  • Jun 28, 2012 12:54am Jun 28, 2012 12:54am
Down to 1.2490, then up to re-challenge 1.2525, then 1.2535, to 1.2550.

BReak sbove 1.2550 opens 1.2625
  • #662,622
  • Jun 28, 2012 12:55am Jun 28, 2012 12:55am
Quoting cadencetrade
Anyone know why the EUR/USD had such a run up today?
Did you not get the memo? We have been in that RANGE.

A failure to even test 40 meant we would have gone back in range to 20. No surprises there.

My long order which failed to execute during the down move yesterday at 42, now that was a surprise.
  • #662,623
  • Jun 28, 2012 12:56am Jun 28, 2012 12:56am
Quoting 5percent
Down to 1.2490, then up to re-challenge 1.2525, then 1.2535, to 1.2550.

BReak sbove 1.2550 opens 1.2625
and...what am I eating for breakfast tomorrow?
  • #662,624
  • Jun 28, 2012 12:56am Jun 28, 2012 12:56am
Quoting diggo
Short closed @ 2453 +40

Closed @ 2455 +39

This one is always a great trade.. only had to risk 9 pips. Closed @ 2456 +45

Long now @ 1.2451. I have larger orders down at strong support 2443/2436. Good r/r here.. We can use tight stops below 2430. We couldn't quite get there before the end of the London session though So as usual, NY will drift away. I would expect the descending trend line to cap it for tonight at ~1.2492...
Longs closed @ 2491 +40

The bulls came out to play today. They have broken out of the descending trend line that we've been in for the past week or so. They've broken key resistance @ 2492/2508 and now going on to test 2520. Short term bulls are indicating 2570 and above now. In hindsight I should have let the longs run longer. I'm disappointed we didn't quite get down to the strong support @ 2435/2443.. I had some large orders down there. Since we fell short I thought we might re-test. But the London close killed those chances last night.

Today, looking for an opportunity to scalp long. At the moment the r/r is not great, even though the chances of going higher are quite strong. I'll wait for it to drop a little more for an opportunity to scalp long. Good levels to long for a long are just above 2500, best will be 2492. At this point we will meet the bottom of the new ascending trendline. Should find some solid support here. Will we get that low? Who knows. I may even begin to add longs at 2508. But the SL must be below 2492, so we can't afford to go in too big here.
  • #662,625
  • Jun 28, 2012 12:58am Jun 28, 2012 12:58am
Supports

2506 and 2473

A short around 2570 for a few (~40pips) would be a good bet.
  • #662,626
  • Jun 28, 2012 1:00am Jun 28, 2012 1:00am
Quoting diggo
Good levels to long for a long are just above 2500, best will be 2492. At this point we will meet the bottom of the new ascending trendline. Should find some solid support here. Will we get that low? Who knows. I may even begin to add longs at 2508. But the SL must be below 2492, so we can't afford to go in too big here.
As I spoke, the first opportunity presents itself for the first baby scalp.

Long 2509 SL 2488

Looking to pyramid my position if we drop more. Void below 2490
  • #662,627
  • Jun 28, 2012 1:04am Jun 28, 2012 1:04am
Quoting diggo
Longs closed @ 2491 +40

The bulls came out to play today. They have broken out of the descending trend line that we've been in for the past week or so. They've broken key resistance @ 2492/2508 and now going on to test 2520. Short term bulls are indicating 2570 and above now. In hindsight I should have let the longs run longer. I'm disappointed we didn't quite get down to the strong support @ 2435/2443.. I had some large orders down there. Since we fell short I thought we might re-test. But the London close killed those...
Feels like a rinse and repeat today, buy in Asia which will fail to penetrate the range, sell and range 00-90 in Franky/Lodon, US sell off to 40ish.

Of course though, there is the EU summit where every single word can move the markets so dangerous day it is today.
  • #662,628
  • Jun 28, 2012 1:04am Jun 28, 2012 1:04am
This is first day on the week (and the last), where I speculate for EUR strengthening
Limit buy 1.2495 SL:1.2482 Tgt: 1.2520
"Study the past if you would define the future." Confucius
  • #662,629
  • Jun 28, 2012 1:19am Jun 28, 2012 1:19am
still correcting 1.328x to 1.228x

possible wave C in progress.

longs only unless 1.244x gives.

breach of 1.328x or 1.228x cancels the corrective view.
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  • #662,630
  • Jun 28, 2012 1:46am Jun 28, 2012 1:46am
Quoting MaxDoom
still correcting 1.328x to 1.228x

possible wave C in progress.

longs only unless 1.244x gives.

breach of 1.328x or 1.228x cancels the corrective view.
Good to see you here again Max

Again today, I agree with your analysis. I was a bit cheeky and stole some pips yesterday with the bears. It just didn't get as low as I'd like. Maybe 2445 will be enough. 2443 or 2435 would have been better for the bulls to start a strong short term uptrend. I would like to see them re-test today. So I can get some big orders in with tight stops and target 300+ pips.

Anyway, like I said earlier, bulls broke a few key areas today, including breaking out of the descending TL. Interested to see how strong support will be around 2490 give or take a few (Also support @ 2492).
  • #662,631
  • Jun 28, 2012 1:49am Jun 28, 2012 1:49am
Things don't look good for bull, see GBP 1 hour, if this close with heavy tip top line down. Means bull steam is out.

should expect eur/usd to test 1.2490 minimum, to see if the support holds.

1.2490 was also the break out during asia to 1.2525.
  • #662,632
  • Jun 28, 2012 1:56am Jun 28, 2012 1:56am
Quoting Paulenok
and...what am I eating for breakfast tomorrow?
Locusts and honey.
  • #662,633
  • Jun 28, 2012 2:04am Jun 28, 2012 2:04am
Quoting diggo
Good to see you here again Max

Anyway, like I said earlier, bulls broke a few key areas today, including breaking out of the descending TL. Interested to see how strong support will be around 2490 give or take a few (Also support @ 2492).
unfortunately this thread seems to be breaking down again to a small number of sensible people and large number of idiots - hey ho another 4 month break from FF looms......

this 1.25 area was tough resistence yesterday interesting to see how it holds as support now
  • #662,634
  • Jun 28, 2012 2:06am Jun 28, 2012 2:06am
Overnight strength is from US dollar month end positioning....

ECB rate cut becoming increasingly likely next week.... almost every day brings more talk from ECB members of rate easing... Goldman Sachs advised customers yesterday that they now see a .25% rate cut next week, weighing the Euro....

The summit will produce sweet nothings wispered in our ears by the Pols... but the market will ultimately by disappointed... Spanish yields are pushing toward the drop dead 7% level as I type this....

My directional bias is Bearish against Monday's opening high. Gettinga sustained move underway will take the market giving up on Summit hopes... which it surely will....

Merkel may have lost Sarkozy as an ally.... but you can rest assured she will be targeting the French Socialist at the Summit.....
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  • #662,635
  • Jun 28, 2012 2:15am Jun 28, 2012 2:15am
Quoting Crassius
Overnight strength is from US dollar month end positioning....

ECB rate cut becoming increasingly likely next week.... almost every day brings more talk from ECB members of rate easing... Goldman Sachs advised customers yesterday that they now see a .25% rate cut next week, weighing the Euro....

The summit will produce sweet nothings wispered in our ears by the Pols... but the market will ultimately by disappointed... Spanish yields are pushing toward the drop dead 7% level as I type this....

My directional bias is Bearish against Monday's opening...
Agree!
And If we see a bad Unemplyment data from Germany, the odds for cut rate will rise and investors will begin to price in.
"Study the past if you would define the future." Confucius
  • #662,636
  • Jun 28, 2012 2:17am Jun 28, 2012 2:17am
Quoting MaxDoom
unfortunately this thread seems to be breaking down again to a small number of sensible people and large number of idiots - hey ho another 4 month break from FF looms......

this 1.25 area was tough resistence yesterday interesting to see how it holds as support now
That's why I spend most of my time reading and learning from the useless thread

I like 1.2492. It was given plenty of respect yesterday. It also just happens to coincide with the floor of the ATL (~2489). I have my longs pending @ 2493/2491 with 9 & 7 pip stop losses
  • #662,637
  • Jun 28, 2012 2:20am Jun 28, 2012 2:20am
Quoting diggo
That's why I spend most of my time reading and learning from the useless thread

I like 1.2492. It was given plenty of respect yesterday. It also just happens to coincide with the floor of the ATL (~2489). I have my longs pending @ 2493/2491 with 9 & 7 pip stop losses

tight stops always good if the entry is right

do you have and AMG merc? I have the CLS AMG
  • #662,638
  • Jun 28, 2012 2:22am Jun 28, 2012 2:22am
Quoting MaxDoom
unfortunately this thread seems to be breaking down again to a small number of sensible people and large number of idiots - hey ho another 4 month break from FF looms......
"Never argue with an idiot. They will bring you down to their level and beat you with experience." -Mark Twain-
  • #662,639
  • Jun 28, 2012 2:26am Jun 28, 2012 2:26am
Quoting Magicgoan
"Never argue with an idiot. They will bring you down to their level and beat you with experience." -Mark Twain-

I recommend this book
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  • #662,640
  • Jun 28, 2012 2:29am Jun 28, 2012 2:29am
long from 95
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