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  • #321
  • Jul 15, 2012 5:10pm Jul 15, 2012 5:10pm
Quoting mikeylp
Good Night traders
Well the gap was a good one for me this time over the weekend, 2 targets reached just on top of my TPs for EU and EJ; it was my 2nd TG for EU and 1st for EJ.
The EU will probably close its gap before it climbs a bit more, it should reach previous daily low close at 2363 (2366 for fib38.2) and that's where my final for the rally.

http://i47.tinypic.com/domfdg.gif
Dreams, dreams, dreams,
those that believe that know the future
find themselves in the pit of hell.
Empty as water and soft as a facing wind mountain
  • #322
  • Jul 15, 2012 5:15pm Jul 15, 2012 5:15pm
Quoting luSan
Dreams, dreams, dreams,
those that believe that know the future
find themselves in the pit of hell.
No dreams just the chart, if I see any resistance earlier, I will close it, it is a risk free trade for me, 2 long targets already were (1st 30 pips and 2nd 60pips) taken just looking for a signal to short that's all. Until then, anything can happen, both ways which is for sure.
  • #323
  • Jul 15, 2012 5:17pm Jul 15, 2012 5:17pm
And BTW, the gap usually becomes a support level (or resistance respectively) and many traders use that to get into the trade.
  • #324
  • Jul 15, 2012 5:18pm Jul 15, 2012 5:18pm
posted a little update with levels here: #101516
  • #325
  • Jul 15, 2012 5:40pm Jul 15, 2012 5:40pm
Quoting mikeylp
No dreams just the chart, if I see any resistance earlier, I will close it, it is a risk free trade for me, 2 long targets already were (1st 30 pips and 2nd 60pips) taken just looking for a signal to short that's all. Until then, anything can happen, both ways which is for sure.
That is good. Happy hunting
Empty as water and soft as a facing wind mountain
  • #326
  • Jul 15, 2012 11:18pm Jul 15, 2012 11:18pm
Hello
New voice message: Why are you calling me? If I need you, I'll call you!
  • #327
  • Edited 2:00am Jul 16, 2012 1:37am | Edited 2:00am
good morning all.

Here is what I am looking at......

The daily is on or has completed wave 5 of a simple 5w trend pattern. You can see on the chart that it has touched into the target zone 1.218x to 1.200x, but only just and the stochastic is at a low point.

For interest purposes I have shown also on Daily 2 chart the simple ABC pattern that was wave 4 and a retrace of the wave 3. Notice how it completed in the target zone between those two lines ER162 and ER127.

Looking at the H4 chart it shows what is the potential wave 5 in the first daily chart broken down into the H4 version.
That wave 5 will normally consist of a 3 or 5 wave pattern. So treating it as a 5 wave pattern and assuming wave 3 complete we can see that it has only retraced about 20% of wave 3 so far = not enough.

So from a simple elliot and fib perspective the daily direction maybe UP and the H4 direction may also be UP.

So my trade plan for the day is to buy dips and becomes invalid if we take out the low of 1.216x

The downside risk is that daily wave 5 is not complete or H4 wave 3 is not complete hence invalid below 1.216x

EDIT: so a bounce off 1.22 will be ideal
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD-sbDaily.png Size: 32 KB
Click to Enlarge Name: EURUSD-sbDaily 2.png Size: 36 KB
Click to Enlarge Name: EURUSD-sbH4.png Size: 52 KB
  • #328
  • Jul 16, 2012 2:16am Jul 16, 2012 2:16am
Good morning

I agree with Max on euro - looks like it is now or never for euro as 2216/20 about to be tackled. I am standing aside, I couldn't find a clear signal to enter.
Selling sterling atm as she formed a nice top last night about 1,5593 (H4) and that was my entry point.
I would like to see a minimum drop to a 1,5463. If PA wish to wipe out all fridays gains 1,5392 will be my key level here for further weakness.
I will secure all shorts if price cross 1,5518 and close below it and I will let the market do the rest.
Good luck guys!

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upload pictures
swing it!
  • #329
  • Jul 16, 2012 4:15am Jul 16, 2012 4:15am
2165 should be tested now again, she droped 70 pips since yesterday, could bounce @ 2185 for 2220
swing it!
  • #330
  • Jul 16, 2012 4:21am Jul 16, 2012 4:21am
There were a bunch of stops that tripped at 1.2195. I didn't get an entry signal... it was oh so very close....but didn't qualify.

There is a big option expiry at 1.2200 which could provide some support. This is all dollar strength....

If I had gotten an entry signal it would have been a small position... Wall Street will most likely be the driver this week as many S&P500 names report earnings. Helicopter Ben of course on tap... but not today...

EIDT**** EUR/JPY weakness... new six week low.... is said to be tied to bond redemptions due end of the week.... this has contributed to EU weakness...
  • #331
  • Jul 16, 2012 4:43am Jul 16, 2012 4:43am
NOT TO SOUND LIKE AN ARSE...but i want the EURO to drop. why?

because i am short EUR through EUR/HKD. HKD fundamentals kick that of EUR.

trade posted here. and here and here.

previous chart.
http://www.forexfactory.com/attachme...8&d=1342212478
second update
http://www.forexfactory.com/attachme...7&d=1342426568
third update:
http://www.forexfactory.com/attachme...5&d=1342429519
current update.
http://www.forexfactory.com/attachme...9&d=1342430612
" It may mean something. It may mean nothing at all "
  • #332
  • Jul 16, 2012 4:45am Jul 16, 2012 4:45am
Good Morning Everybody...
We are still stuck in down trend, no question asked.
But my guts are saying we are beginning a nice correction move worth 100-150 pips.
I closed my SHORT and getting ready for LONG.
What ya think lads?

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 28 KB
Read Charts - Not Papers
  • #333
  • Jul 16, 2012 4:50am Jul 16, 2012 4:50am
Quoting halkins
Good Morning Everybody...
We are still stuck in down trend, no question asked.
But my guts are saying we are beginning a nice correction move worth 100-150 pips.
I closed my SHORT and getting ready for LONG.
What ya think lads?

Attachment
I would like to see nice 165 rejection and then boom - even I will jump on a train - we are 20 pipers from new lows, we should see nice battle here. I managed to place cheeky short from 2200 I would like to see what she will do @ 165 first.
swing it!
  • #334
  • Jul 16, 2012 4:52am Jul 16, 2012 4:52am
am still prefer long scenario in today,but if there is no signal then am might be short on tomorrow
If there was easy money lying around,no one would be forcing it into your
  • #335
  • Jul 16, 2012 4:53am Jul 16, 2012 4:53am
Quoting FXMindset
am still prefer long scenario in today,but if there is no signal then am might be short on tomorrow
yep might come about now - M15
swing it!
  • #336
  • Jul 16, 2012 4:54am Jul 16, 2012 4:54am
Quoting tomspin
yep might come about now - M15
If there was easy money lying around,no one would be forcing it into your
  • #337
  • Jul 16, 2012 4:54am Jul 16, 2012 4:54am
Quoting tomspin
I would like to see nice 165 rejection and then boom - even I will jump on a train - we are 20 pipers from new lows, we should see nice battle here. I managed to place cheeky short from 2200 I would like to see what she will do @ 165 first.
This is why I chose this level, if we got any lower then my bullish scenario will be rejected.
Then I'd rather opt for a week long boring consolidation scenario...
Read Charts - Not Papers
  • #338
  • Jul 16, 2012 4:55am Jul 16, 2012 4:55am
Quoting halkins
Good Morning Everybody...
We are still stuck in down trend, no question asked.
But my guts are saying we are beginning a nice correction move worth 100-150 pips.
I closed my SHORT and getting ready for LONG.
What ya think lads?

Attachment

YOUR guts?....IMPRESSIVE...you have bigger stones than i do. I try to avoid my gut as much as possible....unless of course, when i am dealing with women...but that is another story for another day...

good luck,

--skynet

potential bullish area below in chart:
( of course, since i am short EUR/HKD...i want my 2nd price target to get hit first before any bullishness).
anyways:
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-07-16_05-57_OANDA.jpg Size: 51 KB
" It may mean something. It may mean nothing at all "
  • #339
  • Jul 16, 2012 4:57am Jul 16, 2012 4:57am
Aussie is tipping over 50 to grab min
H1
swing it!
  • #340
  • Jul 16, 2012 4:59am Jul 16, 2012 4:59am
Quoting Skynet
YOUR guts?....IMPRESSIVE...you have bigger stones than i do. I try to avoid my gut as much as possible....unless of course, when i am dealing with women...but that is another story for another day...

good luck,

--skynet
Hi Sky,

What women my sky
If there was easy money lying around,no one would be forcing it into your
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