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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #42,741
  • Jul 13, 2012 6:51am Jul 13, 2012 6:51am
Quoting Cgb
A scalp for less than 100 pips??? It must be Friday 13th! LOL!
Shoulda kept it for 50. Dam it! Of course it hits 10 minutes later.
  • #42,742
  • Jul 13, 2012 6:56am Jul 13, 2012 6:56am
Quoting halkins
Looks like GU is in a turning point hanging on 50Fibo.
What about scalping SOUTH 25pips ?
Whooow...
GU broke thru 50% Fibo and stopped exactly on 61.80%
Nearly up to 1 pip...
Some big orders must have flown the market, and there's something in the air to strenghten dollar pretty soon.
Read Charts - Not Papers
  • #42,743
  • Jul 13, 2012 6:58am Jul 13, 2012 6:58am
Quoting PipTrapper
It's never too early to start building with small leverage. It's too early to fire all your ammo. You may be right about oil but I still see oil at 82.50 soon. I was thinking it will happen today but now I am not so confident about that any more. Probably next week though. We shall see. I've seen oil tank hard many times before.
Bulls Run. Bears Bite. We Profit.
  • #42,744
  • Jul 13, 2012 7:03am Jul 13, 2012 7:03am
Quoting FXSwissTrader
Shoulda kept it for 50. Dam it! Of course it hits 10 minutes later.
Losing your edge bro! Better go back to sleep
I observe your reality but live my own.
  • #42,745
  • Jul 13, 2012 7:06am Jul 13, 2012 7:06am
Quoting Cgb
Losing your edge bro! Better go back to sleep
It was probably profit taking move. See how it dropped after hitting over 1.55? I have a feeling we're reversing in NY session. I'm backing the truck up and getting ready............
  • #42,746
  • Jul 13, 2012 7:09am Jul 13, 2012 7:09am
Quoting FXSwissTrader
It was probably profit taking move. See how it dropped after hitting over 1.55? I have a feeling we're reversing in NY session. I'm backing the truck up and getting ready............
Yeah, me too! But my pickup truck is not as big as yours
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I observe your reality but live my own.
  • #42,747
  • Jul 13, 2012 7:10am Jul 13, 2012 7:10am
Quoting Cgb
Yeah, me too! But my pickup truck is not as big as yours
  • #42,748
  • Jul 13, 2012 7:17am Jul 13, 2012 7:17am
Quoting PipTrapper
I don't monitor that pair. My focus is away from the Yen right now other than U/J and E/J

Anyway, I looked at it and you are correct. Very nice rising wedge on a downtrend correction (Bearish continuation pattern). That helps my U/CAD long.

Thanks for bringing it to my attention

C/J Daily
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Welcome master, glad it could help even if it's little
  • #42,749
  • Jul 13, 2012 7:18am Jul 13, 2012 7:18am
We're at the confluence of two trends on the USDX chart. A down trend from yesterday's high and an uptrend from many days ago which is acting as support/resistance on it. That same line is was yesterday's chart but was green, now red.

We need to post a close above these two lines and this followed by a confirmation candle on the 15M chart to have a trend reversal (from down to up).

This will allow the E/U to further drop and move below the bear flag we're chewing at.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDX_Jul13_0811.gif Size: 110 KB
Click to Enlarge Name: EURUSD_Jul13_0815.gif Size: 145 KB
I observe your reality but live my own.
  • #42,750
  • Jul 13, 2012 7:21am Jul 13, 2012 7:21am
Quoting Cgb
We're at the confluence of two trends on the USDX chart. A down trend from yesterday's high and an uptrend from many days ago which is acting as support/resistance on it. That same line is was yesterday's chart but was green, now red.

We need to post a close above these two lines and this followed by a confirmation candle on the 15M chart to have a trend reversal (from down to up).

This will allow the E/U to further drop and move below the bear flag we're chewing at.
If we get bad U.S fundies, could be risk off.
  • #42,751
  • Jul 13, 2012 7:26am Jul 13, 2012 7:26am
Quoting FXSwissTrader
If we get bad U.S fundies, could be risk off.
Futures right now are indicating a risk on day. With last night's GDP number from China coming in as expected, this could be a good day for the US$ and a good day for me as I'm short E/U
I observe your reality but live my own.
  • #42,752
  • Jul 13, 2012 7:27am Jul 13, 2012 7:27am
Ok so some questions for all you experienced folk.

What 'normally' does a Friday produce? I have often seen a reversal of the weekly move - profit taking? Is that quite a common occurrence?

I notice today the UK open and the US open have been bang on the same level at 1.2193. What does that signify, indecision or lack of participants?
  • #42,753
  • Jul 13, 2012 7:30am Jul 13, 2012 7:30am
Market talk: A Think Tank report coming out that is bearish on China.

Not good for equities and commodity currencies IMO.
  • #42,754
  • Jul 13, 2012 7:33am Jul 13, 2012 7:33am
Quoting FXSwissTrader
It was probably profit taking move. See how it dropped after hitting over 1.55? I have a feeling we're reversing in NY session. I'm backing the truck up and getting ready............
I'm ready

http://media.hamptonroads.com/media/...big500x400.jpg
Those who say it cannot be done should not interrupt those who are doing it
  • #42,755
  • Jul 13, 2012 7:34am Jul 13, 2012 7:34am
Quoting PipTrapper
I'm ready

http://media.hamptonroads.com/media/...big500x400.jpg
I guess in this case, size matters.
  • #42,756
  • Jul 13, 2012 7:40am Jul 13, 2012 7:40am
Quoting PipTrapper
I'm ready

http://media.hamptonroads.com/media/...big500x400.jpg
I fell so small playing with you big boys
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I observe your reality but live my own.
  • #42,757
  • Jul 13, 2012 7:40am Jul 13, 2012 7:40am
Quoting andys0506
Ok so some questions for all you experienced folk.

What 'normally' does a Friday produce? I have often seen a reversal of the weekly move - profit taking? Is that quite a common occurrence?

I notice today the UK open and the US open have been bang on the same level at 1.2193. What does that signify, indecision or lack of participants?
It's not a common occurrence per say. It happens after extreme moves, but this week's moves have not been extreme. If anything they have been pretty flat. However, last week's moves were a bit stretched so if we get a profit taking (Short covering), it will be based on last week's moves. Seeing as how the market did not want to cover shorts from last week and seeing as how the fundamentals have not improved, the chances of a short covering are slim, but still possible.

As for today's moves, the answer is both indecision and lack of participants.
Those who say it cannot be done should not interrupt those who are doing it
  • #42,758
  • Jul 13, 2012 7:42am Jul 13, 2012 7:42am
Quoting PipTrapper
It's not a common occurrence per say. It happens after extreme moves, but this week's moves have not been extreme. If anything they have been pretty flat. However, last week's moves were a bit stretched so if we get a profit taking (Short covering), it will be based on last week's moves. Seeing as how the market did not want to cover shorts from last week and seeing as how the fundamentals have not improved, the chances of a short covering are slim, but still possible.

As for today's moves, the answer is both indecision and lack of participants....
Thankyou, now this is why I love hanging out here rather than that EURUSD thread (if you can call it that)
  • #42,759
  • Jul 13, 2012 7:43am Jul 13, 2012 7:43am
Quoting FXSwissTrader
I guess in this case, size matters.
Size always matters

http://4.bp.blogspot.com/_C_dw0NF2IA...ze+matters.jpg
Those who say it cannot be done should not interrupt those who are doing it
  • #42,760
  • Jul 13, 2012 7:47am Jul 13, 2012 7:47am
Quoting PipTrapper
Size always matters

http://4.bp.blogspot.com/_C_dw0NF2IA...ze+matters.jpg
Hahaha...
Bulls Run. Bears Bite. We Profit.
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