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  • #668,001
  • Jul 12, 2012 1:46pm Jul 12, 2012 1:46pm
Hmm.... *twiddles thumbs*

EURUSD looks too risky at this level...

GBPUSD actually looks better at the moment.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_LONG_1_JULY_12TH.png Size: 46 KB


~fighter
  • #668,002
  • Jul 12, 2012 1:47pm Jul 12, 2012 1:47pm
Quoting 853efx
*bookmarked* - hope this isn't another blog that only lasts for some months (looks good on first sight - didnt read anything yet, but i like the fact that there is some text - green pips 2 u)
Thanks a lot. I plan to keep it going. Let me know what you think if you will have a read.
  • #668,003
  • Jul 12, 2012 2:17pm Jul 12, 2012 2:17pm
Quoting purzel
So far the 127 % daily butterfly target at 1.2164 held the Euro and the three succeeding daily lows on the 4-hour/1 hour chart could be interpreted as a falling wedge/ending diagonal (new low would cancel the pattern IMO). Let's see whether the first butterfly target can provide solid support or whether we will go further down, maybe to the 161 % butterfly target at 1.2005.


Next support zone would be the 61.80 % weekly fib extension/ weekly S1 at 1.2133.
Next resistance is Monday's gap opening at 1.2252 and the low of June 1st at 1.2288...
A Butterfly? It should have hit fib78.6 first for its first retracement which it didn't, only 61.8, so a Crab might be on its way.

http://i48.tinypic.com/5upmqt.png
  • #668,004
  • Jul 12, 2012 2:22pm Jul 12, 2012 2:22pm
Quoting purzel
So far the 127 % daily butterfly target at 1.2164 held the Euro and the three succeeding daily lows on the 4-hour/1 hour chart could be interpreted as a falling wedge/ending diagonal (new low would cancel the pattern IMO). Let's see whether the first butterfly target can provide solid support or whether we will go further down, maybe to the 161 % butterfly target at 1.2005.


Next support zone would be the 61.80 % weekly fib extension/ weekly S1 at 1.2133.
Next resistance is Monday's gap opening at 1.2252 and the low of June 1st at 1.2288...
Interesting, if we get through the flak at the 1.2150 handle easily enough then I will certainly be watching the butterfly formation. In your experience, are these reliable as an indicator?
  • #668,005
  • Jul 12, 2012 2:45pm Jul 12, 2012 2:45pm
Down we go?
Attached Image (click to enlarge)
Click to Enlarge Name: 5mlines.jpg Size: 117 KB
Time turns trend. - W.D. Gann
  • #668,006
  • Jul 12, 2012 2:47pm Jul 12, 2012 2:47pm
Just reloaded the first short lot at 1.2210

The first spike to that area a couple hours ago was my TP for the long scalp and now using this area to build shorts from. Let's see if it holds.

DISCLAIMER: If it goes higher, I'm still willing to add. I generally scale into my positions and this one entry represents about 15-25% of the full position I'd want to be holding for the next leg down.

Cheers!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd15min.gif Size: 52 KB
check out my blog: forexmademillionaire dot com
  • #668,007
  • Jul 12, 2012 3:01pm Jul 12, 2012 3:01pm
Euro became stable in EURGBP pair, for final confirmation we have to wait till tomorrow. If its holds here in EURGBP it will will pull back EURUSD too. If you are a day trader and you are in short, I think its time to hold. Trading EURUSD is risky now, surely its a level now from here either it will go down or up, anything can happen. But as it fallen enough analytically it has be go up.
  • #668,008
  • Jul 12, 2012 3:01pm Jul 12, 2012 3:01pm
Quoting Geppy
Just reloaded the first short lot at 1.2210

The first spike to that area a couple hours ago was my TP for the long scalp and now using this area to build shorts from. Let's see if it holds.

DISCLAIMER: If it goes higher, I'm still willing to add. I generally scale into my positions and this one entry represents about 15-25% of the full position I'd want to be holding for the next leg down.

Cheers!
Hi Geppy,

Are you just using the conjunction of the MACD cross and upper trend channel touch as your first entry signal?
  • #668,009
  • Jul 12, 2012 3:03pm Jul 12, 2012 3:03pm
Quoting iamkjb
Hi Geppy,

Are you just using the conjunction of the MACD cross and upper trend channel touch as your first entry signal?
I don't use MACD cross, just using treandlines, support, and resistance.
check out my blog: forexmademillionaire dot com
  • #668,010
  • Jul 12, 2012 3:09pm Jul 12, 2012 3:09pm
Hi Geppy
I am watching and following some of yours moves. Also I learn from You a lot. I think You are one of best traders here.
  • #668,011
  • Jul 12, 2012 3:11pm Jul 12, 2012 3:11pm
Quoting morob
Hi Geppy
I am watching and following some of yours moves. Also I learn from You a lot. I think You are one of best traders here.
Thanks, bud. Best of luck to you. I usually post in the Useless thread, but it's been so quiet over there that I've come here to get my kicks.
check out my blog: forexmademillionaire dot com
  • #668,012
  • Jul 12, 2012 3:16pm Jul 12, 2012 3:16pm
Gidday Traders

Shorts taken out again
Man thought the hairy bum hole bankers would be pulling the trigger on the spike button.
Man I would love that job waiting for all the plesants to load up there shorts,then boom.
That big spike 2 weeks ago,2 cents
My shitty plan as US/CHF has not been this for well over a year
went short 98700
short EUR/US 122000 with smaller long,just in case I get caught out again.

What our the rest of the punters,doing
  • #668,013
  • Jul 12, 2012 3:18pm Jul 12, 2012 3:18pm
Quoting Geppy
Thanks, bud. Best of luck to you. I usually post in the Useless thread, but it's been so quiet over there that I've come here to get my kicks.
Now that place very well

Big Respect to You
  • #668,014
  • Jul 12, 2012 4:36pm Jul 12, 2012 4:36pm
Quoting Geppy
Just reloaded the first short lot at 1.2210

The first spike to that area a couple hours ago was my TP for the long scalp and now using this area to build shorts from. Let's see if it holds.

DISCLAIMER: If it goes higher, I'm still willing to add. I generally scale into my positions and this one entry represents about 15-25% of the full position I'd want to be holding for the next leg down.

Cheers!
Good to see someone else posting live trades.
"Men who can both be right and sit tight are uncommon."
  • #668,015
  • Jul 12, 2012 5:07pm Jul 12, 2012 5:07pm
Still short or closed it already?

Quoting eliteincome
Gidday Traders
short EUR/US 122000 with smaller long,just in case I get caught out again.
  • #668,016
  • Jul 12, 2012 5:15pm Jul 12, 2012 5:15pm
China GDP stats coming out today. (Friday). I guess its a cue on what to expect from risk on risk off sentiments next week. And the beat goes on.
  • #668,017
  • Jul 12, 2012 5:48pm Jul 12, 2012 5:48pm
15 min, soon to break out
New voice message: Why are you calling me? If I need you, I'll call you!
  • #668,018
  • Jul 12, 2012 5:48pm Jul 12, 2012 5:48pm
Quoting KillerWhale
15 min, soon to break out
forgot the chart
New voice message: Why are you calling me? If I need you, I'll call you!
  • #668,019
  • Jul 12, 2012 5:49pm Jul 12, 2012 5:49pm
Quoting KillerWhale
forgot the chart
lol
Attached Image (click to enlarge)
Click to Enlarge Name: eu 15 min 07-12-12.gif Size: 34 KB
New voice message: Why are you calling me? If I need you, I'll call you!
  • #668,020
  • Jul 12, 2012 5:54pm Jul 12, 2012 5:54pm
we may be able to short right now with a stop at 2209+ 1 or 2 pip.. stop.. at 2206 as i type
those who can, do. those who cant, talk about those who can
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