Attachments: EURUSD

EURUSD

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#663,941
Jul 2, 2012 7:28am Jul 2, 2012 7:28am

KiwiTrada
Joined Aug 2009 | Status: Trader | 12,448 Posts

Quoting Fudomyo

Disliked

My longer term view is up, but timing is everything.

Open your Daily chart. 2600 is not important.

Keep in mind the WP and MP haven't been tested. MP is 50% of Friday's move up and 61.8% is the indecision doji on the daily chart from 6/24.

These are key short term downside targets. Take a look at the Daily Chart I posted earlier. It's clear as a bell.

edit: WP tested while I was typing.

Ignored

ok bro, sorry dont use pivots no more, but will check

and yes watching daily weekly and monthly levels, posted last friday and sunday with charts, plan was to defend this weeks / months open, doing that they doing fine,
EU chart I posted will try find but the last rally was a perfect retest of a breached Daily bear flag, so for now I happy to sold this girl

ps agreed 2600 not show on chart, but is minor physc level, I always wary physc levels

edit 2585 was my more interest in reaction, similar level swissy, her has just minor reject 1st tap for now

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#663,942
Jul 2, 2012 7:33am Jul 2, 2012 7:33am

hlina9
| Joined Nov 2011 | Status: Trader | 664 Posts

2820?

#663,943
Jul 2, 2012 7:34am Jul 2, 2012 7:34am

KillerWhale
Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts

Quoting hlina9

Disliked

2820?

Ignored

Not today, too far away

New voice message: Why are you calling me? If I need you, I'll call you!

#663,944
Jul 2, 2012 7:34am Jul 2, 2012 7:34am

tomspin
| Joined Dec 2011 | Status: Trader | 2,927 Posts

2590 could provide support
2563/65
2520
2490
2420

These are my levels, she is falling since sunday asia, sleepy monday today.

swing it!

#663,945
Jul 2, 2012 7:37am Jul 2, 2012 7:37am

KiwiTrada
Joined Aug 2009 | Status: Trader | 12,448 Posts

Quoting KiwiTrada

Disliked

ok bro, sorry dont use pivots no more, but will check and yes watching daily weekly and monthly levels, posted last friday and sunday with charts, plan was to defend this weeks / months open, doing that they doing fine,
EU chart I posted will try find but the last rally was a perfect retest of a breached Daily bear flag, so for now I happy to sold this girl
ps agreed 2600 not show on chart, but is minor physc level, I always wary physc levels

[i]edit 2585 was my more interest in reaction, similar level swissy, her has just minor reject...

Ignored

this was simple daily eu chart posted on weekend, so far her playing out good, my fills have no risk now with trailings activated, I am just watch her for a bit 2619 was level I wait her breach hahahaha now I need 2600 to find some power to keep her down here

Attached Image (click to enlarge)

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#663,946
Jul 2, 2012 7:44am Jul 2, 2012 7:44am

attila
| Membership Revoked | Joined Mar 2009 | 16,693 Posts

Quoting slow_trader

Disliked

i see alot of newbies here following news........do u guys know that news are lagging indicators? it is only after the situation happen then they post the news.......get it? u cannot make money from news......

Ignored

No, I don't get it.. Before you make definite statements like this, you should inform yourself first, and secondly you should understand the different dynamics pertaining to different situations, and only then talk.

If you heard of Steidlmayer (probably not).. Here's how he describes it..

Price moves away from value for three different reasons and the
dynamics in each case are different.

All events that affect value fall into three
basic categories:

• surprise events.

• unlikely events.

• likely events.

A market surprise generally causes current price to move sharply
away from current value and then to move back to it.

The reason: the event doesn't usually have a fundamental impact on
value right away. The event is obvious. So market participants react
immediately and then reassess as they consider the longer-term
implications.

An unlikely event generally causes current price and current
value to move together.

The reason: unlikely events such as rain in the middle of a drought
or a bullish instead of a bearish inflation report can have a fun-
damental impact on value. Whether they do or not depends on
whether the event is an isolated incident or the first in a series of
moves.

A likely event generally causes value to move ahead of price and then value pulls price up-or down- to a new level

The reason: these events are fully discounted by the market.

#663,947
Jul 2, 2012 7:49am Jul 2, 2012 7:49am

Nachiket
| Membership Revoked | Joined Jul 2011 | 3,291 Posts

if it is bad eur/usd rises if good then no reaction probably.

#663,948
Jul 2, 2012 7:49am Jul 2, 2012 7:49am

balanced2012
| Commercial User | Joined May 2012 | 415 Posts

Quoting attila

Disliked

No, I don't get it.. Before you make definite statements like this, you should inform yourself first, and secondly you should understand the different dynamics pertaining to different situations, and only then talk.

If you heard of Steidlmayer (probably not).. Here's how he describes it..

Price moves away from value for three different reasons and the
dynamics in each case are different.

All events that affect value into three
basic categories:

• surprise events.

• unlikely events.

• likely events.

A market surprise generally causes...

Ignored

Ã¢â‚¬Å“Don't cry because it's over, smile because it happened.Ã¢â‚¬Â

#663,949
Jul 2, 2012 7:49am Jul 2, 2012 7:49am

Crassius
| Joined Jan 2009 | Status: Don't Tread On Me | 2,059 Posts

Quoting attila

Disliked

No, I don't get it.. Before you make definite statements like this, you should inform yourself first, and secondly you should understand the different dynamics pertaining to different situations, and only then talk.

Ignored

Good Post...

http://images.zaazu.com/img/thumbsup...283-medium.gif

#663,950
Jul 2, 2012 7:52am Jul 2, 2012 7:52am

Nachiket
| Membership Revoked | Joined Jul 2011 | 3,291 Posts

too much fire in it today. It can reach 80.20 easily in 1 hr if it consolidates in this 79.65-79.75 area.

#663,951
Jul 2, 2012 8:09am Jul 2, 2012 8:09am

KiwiTrada
Joined Aug 2009 | Status: Trader | 12,448 Posts

Quoting Fudomyo

Disliked

I don't trade Daily pivots, but Monthly Weekly Pivots are EU psych levels as well.

btw. perfect bounce of the WP. good place to close shorts for now. NY open in 45m.

you can see on Friday's move up as well, WP/MP were critical resistance areas.

Good to keep an eye on

Ignored

yes I should correct myself, I do use pivots, but they need to fit in with my specific tradeplan at the time, and yes agreed, most of my levels often coinside with pp,s, todays trade plan we been preparing for the last 2 weeks, and we believe todays open/high has potential for holding awhile, hence the position building, if our simple flag fails, we will have to try all over again, at todays high and/or another retest of the ltl of the flag, so like I saying, we have build position relative to today open, and we just watching and waiting, 2585 is still in tact and need to breach her, but getting tired may leave to run over night, trailings activated, we have bank little pips already, and is no risk on the table, will reassess tomorrow

trade safe bro, wish many green pip (short only) otherwise i shooting my own foot

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