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  • #664,721
  • Jul 3, 2012 7:06pm Jul 3, 2012 7:06pm
Thanks Kiwi,
I stick to analyses though someone mentioned that more fundies are needed in this thread, I disagree but it's my opinion.
The only fundamental stuff that I get for technical analasys is that market want to take the money from the traders, it doesn't care and any moment and price in the chart is independent from the market perspective but traders create harmonic moves and that's y we see all the repetitions and patterns and fibs all over again.
The news mostly create uncertainty and that's why I try not to trade interday trades 15 minutes before and after to get the picture.
  • #664,722
  • Edited 7:37pm Jul 3, 2012 7:17pm | Edited 7:37pm
If you want to know more about the direction of EU, maybe it would help to look at the UCAD 1 hour and 4 hour chart.

I'll post the 4h for the channel we're in.
We're at the bottom of that channel.

The one hour is building up bullish divergence, and if UCAD goes up >>>>>>>>>

guess what ...... EU goes down.

Which would nicely fit in an ECB rate cut and a bad NFP
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ucad 4 hr 03-07-12.gif Size: 37 KB
Click to Enlarge Name: ucad 1 hr 03-07-12.gif Size: 33 KB
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  • #664,723
  • Jul 3, 2012 7:25pm Jul 3, 2012 7:25pm
Thx to all, GN. I am out.
  • #664,724
  • Jul 3, 2012 7:31pm Jul 3, 2012 7:31pm
LMFAO, the price is currently the SAME as it was when I left for vacation 10 days ago.
  • #664,725
  • Jul 3, 2012 7:32pm Jul 3, 2012 7:32pm
Quoting KillerWhale
I'll post the 4h for the channel we're in.
We're at the bottom of that channel.

The one hour is building up bullish divergence, and if UCAD goes up >>>>>>>>>

guess what ...... EU goes down.

Which would nicely fit in an ECB rate cut and a bed NFP
What do you mean? An ECB rate cut should support EUR.
  • #664,726
  • Jul 3, 2012 7:34pm Jul 3, 2012 7:34pm
Quoting Myo
What do you mean? An ECB rate cut should support EUR.
Are you a little bit out of your mind or just starting with forex??
You want to invest in countries where they LOWER the interest rate?
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  • #664,727
  • Jul 3, 2012 7:43pm Jul 3, 2012 7:43pm
Quoting KillerWhale
Are you a little bit out of your mind or just starting with forex??
You want to invest in countries where they LOWER the interest rate?
Neither, I hope.

Sources:
http://www.reuters.com/article/2012/...8620GH20120703
http://www.dailyfx.com/forex/fundame...medium=twitter
http://blogs.wsj.com/economics/2012/...ut-boost-euro/
  • #664,728
  • Jul 3, 2012 7:50pm Jul 3, 2012 7:50pm
Quoting KillerWhale
Are you a little bit out of your mind or just starting with forex??
You want to invest in countries where they LOWER the interest rate?

hey KW ,

good to see you back in full performance , to be honest i don't know how to trade ECB , it have 2 view

Traditional way interest rate cut should take down eu , but now it might be solution for current European borrowing cost issue as interest rate cut can reduce bond yield and LTRO interest rate which is good for euro.

ECB not worth for the risk
Mohan
  • #664,729
  • Edited 8:11pm Jul 3, 2012 7:59pm | Edited 8:11pm
Good day, this is my chart review on the Euro 4 hourly chart:

Price is stuck in a tight range, it clearly reacted to the 1.2625 on resistance and 1.2565 on the support level, EMAs show a technical downtrend, however I would like to see a close above or below the S/R before considering the market will continue to move on any given direction.

http://4.bp.blogspot.com/-a70tXbggFn...+01+eurusd.gif

A close above could be the beginning of a second leg formation although that could mean we would be counter trending on the daily.

A close below and next nearest support could get us to the 1.2440 spot, I would let market decide by now.
  • #664,730
  • Jul 3, 2012 8:12pm Jul 3, 2012 8:12pm
Quoting mohan76
hey KW ,

good to see you back in full performance , to be honest i don't know how to trade ECB , it have 2 view

Traditional way interest rate cut should take down eu , but now it might be solution for current European borrowing cost issue as interest rate cut can reduce bond yield and LTRO interest rate which is good for euro.

ECB not worth for the risk
If EU goes up it will only be VERY temporary.
None of their problems is solved.
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  • #664,731
  • Jul 3, 2012 8:15pm Jul 3, 2012 8:15pm
Is bearish for me..maybe next support 1.2550
  • #664,732
  • Jul 3, 2012 8:20pm Jul 3, 2012 8:20pm
Quoting mohan76
hey KW ,

good to see you back in full performance , to be honest i don't know how to trade ECB , it have 2 view

Traditional way interest rate cut should take down eu , but now it might be solution for current European borrowing cost issue as interest rate cut can reduce bond yield and LTRO interest rate which is good for euro.

ECB not worth for the risk
To make it simpler I try to follow as much as I can the 1 and 4 hour Gann HiLo, and most of the time that keeps me safe. (Combined with MACD / QQE / and Momentum and Resistance / Support)
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4 hr 03-07-12.gif Size: 42 KB
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  • #664,733
  • Jul 3, 2012 8:26pm Jul 3, 2012 8:26pm
I have nothing on my charts that would give me a bias.. Just put a line on h1 at the open of this candle and look to the left. It's all you need to know.
  • #664,734
  • Jul 3, 2012 8:30pm Jul 3, 2012 8:30pm
See what I mean?
  • #664,735
  • Jul 3, 2012 8:40pm Jul 3, 2012 8:40pm
Here's a little red white and blue coming at you
Attached Image (click to enlarge)
Click to Enlarge Name: 4thofalie.png Size: 56 KB
Founder of Sutherland Wave Principle
  • #664,736
  • Jul 3, 2012 8:57pm Jul 3, 2012 8:57pm
Quoting attila
See what I mean?
YES
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  • #664,737
  • Jul 3, 2012 8:58pm Jul 3, 2012 8:58pm
Quoting attila
See what I mean?
i didn't get anything,can you make a little or more easier for me ? thanks
Sometimes it's better to be wrong,to learn..
  • #664,738
  • Jul 3, 2012 9:00pm Jul 3, 2012 9:00pm
Quoting KiNgEdwarD
i didn't get anything,can you make a little or more easier for me ? thanks
Learn price action, s/r. Tons of stuff out there. I can't make it any easier than what I've already said... While most here are probably short I'm already out with pips in the bag.. And btw, it could go higher.

If you look at my post timestamp, you can trace it back on m1 and see where I called it.. It was real time, not after the fact...
  • #664,739
  • Jul 3, 2012 9:07pm Jul 3, 2012 9:07pm
Quoting attila
Learn price action, s/r. Tons of stuff out there. I can't make it any easier than what I've already said... While most here are probably short I'm already out with pips in the bag.. And btw, it could go higher.

If you look at my post timestamp, you can trace it back on m1 and see where I called it.. It was real time, not after the fact...
i'm long btw
Sometimes it's better to be wrong,to learn..
  • #664,740
  • Jul 3, 2012 9:09pm Jul 3, 2012 9:09pm
Quoting KiNgEdwarD
i'm long btw
Why?
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