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Euro/Dollar

  • #741
  • Jul 23, 2012 11:50am Jul 23, 2012 11:50am
Meh,

Trade idea earlier good - execution F*ucked

Try again
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  • #742
  • Jul 23, 2012 12:46pm Jul 23, 2012 12:46pm
SP stoped out, I see bullish engulfing on H4's on euro, aussie, sterling, oil & SP now which comes from daily trendline, having said that other tf's says different storys so I am prepared to hold my ladies for longer if need it - especially sterling, waiting for NY close no more trading today as market is really quite.
I'll see you tommorow
swing it!
  • #743
  • Jul 23, 2012 1:34pm Jul 23, 2012 1:34pm
Gud night gays,

Viva Technical Analysis
If there was easy money lying around,no one would be forcing it into your
  • #744
  • Jul 23, 2012 4:15pm Jul 23, 2012 4:15pm
Quoting FxCba
good morning/afternoon all, new here, thank you Tom for let me be in.

I want to see gap closed. Long atm. pending sell @ 1.2165
Welcome,
Though it's been several Hours, I couldn't follow up today at all, though I would enter few hours ago when the candle couldn't break above the previous LL. Well I did now and the SL is definitely where you mentioned: 1.2165

TauTrader: Look closer to the Harmonics of the GOLD for the past weeks, it never misses: The BAT, The Gartley, Cyphers, Double TOPs (with patterns), it always retraces; !H and 4H TFs.
  • #745
  • Jul 23, 2012 4:29pm Jul 23, 2012 4:29pm
Quoting mikeylp
Welcome,
Though it's been several Hours, I couldn't follow up today at all, though I would enter few hours ago when the candle couldn't break above the previous LL. Well I did now and the SL is definitely where you mentioned: 1.2165

TauTrader: Look closer to the Harmonics of the GOLD for the past weeks, it never misses: The BAT, The Gartley, Cyphers, Double TOPs (with patterns), it always retraces; !H and 4H TFs.
Gold price is coiling on the daily chart right now. Something explosive will likely happen in the not so distant future.
  • #746
  • Jul 23, 2012 10:57pm Jul 23, 2012 10:57pm
Quoting mikeylp
Welcome,
Though it's been several Hours, I couldn't follow up today at all, though I would enter few hours ago when the candle couldn't break above the previous LL. Well I did now and the SL is definitely where you mentioned: 1.2165

TauTrader: Look closer to the Harmonics of the GOLD for the past weeks, it never misses: The BAT, The Gartley, Cyphers, Double TOPs (with patterns), it always retraces; !H and 4H TFs.
Good day to you,

Yip - Harmonics remain a wonderful tool to employ as part of a strategy.

All the best to you

Regards
  • #747
  • Jul 23, 2012 11:11pm Jul 23, 2012 11:11pm
Quoting TauTrader
Meh,

Trade idea earlier good - execution F*ucked

Try again
Closed these last night to recoup the earlier loss. Looking at today, we may be setting up for a bit higher. 1.2106 to defend.

Regards
  • #748
  • Jul 23, 2012 11:25pm Jul 23, 2012 11:25pm
Making bank on an A/U long right now

I have a small long on E/U that I'm going to TP at 1.2161. After that I'm thinking short that pony @ 1.2165/80

It looks like E/A is going to start eating shit again tonight!
  • #749
  • Jul 23, 2012 11:32pm Jul 23, 2012 11:32pm
Short @ 1.2130, will add more if it goes up
New voice message: Why are you calling me? If I need you, I'll call you!
  • #750
  • Jul 24, 2012 1:28am Jul 24, 2012 1:28am
morning,

currently short EU Cable and Crude
  • #751
  • Jul 24, 2012 1:29am Jul 24, 2012 1:29am
Quoting MaxDoom
morning,

currently short EU Cable and Crude
Cable made a nice little bear flag. Looks like it's falling apart already.
  • #752
  • Jul 24, 2012 1:39am Jul 24, 2012 1:39am
Quoting C5fx
Cable made a nice little bear flag. Looks like it's falling apart already.

maybe, but it is the least convincing of my setups and I have been starting to think about longs on Cable

edit: in fact I have closed it
  • #753
  • Jul 24, 2012 1:41am Jul 24, 2012 1:41am
Quoting MaxDoom
maybe, but it is the least convincing of my setups and I have been starting to think about longs on Cable
Yeah, if you look at the daily it looks very range bound. It's also sitting right above a whole number right now. Very possible it could trade back into it's daily range. Move down could be the old frankie fakeout. This is why I never take trades until London opens
  • #754
  • Jul 24, 2012 1:51am Jul 24, 2012 1:51am
Quoting C5fx
Yeah, if you look at the daily it looks very range bound. It's also sitting right above a whole number right now. Very possible it could trade back into it's daily range. Move down could be the old frankie fakeout. This is why I never take trades until London opens

I keep looking at the daily, and it is still very corrective in nature with some nice upside potential to 1.59 just need it to turn before it takes 1.539x
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  • #755
  • Jul 24, 2012 1:59am Jul 24, 2012 1:59am
Quoting MaxDoom
I keep looking at the daily, and it is still very corrective in nature with some nice upside potential to 1.59 just need it to turn before it takes 1.539x
Good call
  • #756
  • Jul 24, 2012 2:03am Jul 24, 2012 2:03am
flat
  • #757
  • Edited 2:58am Jul 24, 2012 2:47am | Edited 2:58am
This is some info for iNSIELD who was asking me if I saw a GBPJPY short to 119.00 put it on here then others can also make of it what they will

Firstly, everything does not keep going in one direction and I think that a lot of the markets, currencies, indicies etc. are all getting over-extended so I am starting to look for technical reasons to be flat or turn. IE: being conservative

Daily: there are two simple counts:
Chart 1: 1st the correction count of the move down 133.47 to 118.7x Mar-May'12 this has so far made almost 50% and most corrections end in between 50% and 78% - with this in mind a long would be targeting 127.1x to 128.7x but you would first need to wait for the daily to make a new low point (2 bars to confirm ideally) so if yesterdays low holds that could be after tomorrow. See chart 1

Chart 2: 2nd: the move down from 133.4x could be a 5 wave trend count and this is possibly supported by the fact that it has exceeded 78% of the previous move up to 133.4x.
The problem with this count is the limited room between points w1 and w4 and that the action since w4 looks corrective whereas a wave 5 would normally have a bit more power. Also the targets are showing two zones, 1st would give a short wave 5 a possible 120.2x to 119.4x the second is way out there at 116.8x.

4 Hourly:
Chart 3 - zooming in to the H4 I would look for the status of the correction of the lastest run up from 118.7x to 125.8x and we can see that it is consolidating around the 61% zone which is in the 50-78 zone for a normal correction to end.
The primary target zone here ends at 121.2x which is current position.

Hourly:
Chart 4 - looking at just the latest move it appears that we have a 5 wave trend with targets from 120.9x to 120.0x but biased towards a number greater than 120.7x


Putting it all together yes until we see a new daily low - shorts play but I think 119 is a stretch but if you get in with enough headroom 120.7x looks possible anything below a bonus.

Obviously, price can go anywhere this is just a probabilty projection
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  • #758
  • Jul 24, 2012 2:50am Jul 24, 2012 2:50am
Good morning
I am still holding my shorts, I was underwater at some point but more less at the same level since yesterday's NY lunchtime.
PMI droped few points again and anything below 50 means recession, when I am looking at euro/dollar chart I cannot see much of a direction - we've been ranging since yesterday 17:00 between 1,2100 & 1,2146
We need 1,2050 for bears & 1,2150 for temp up move otherwise ping pong match is valid. When I am looking at higher tf I can see 1,2030 could be achieved today, even 2000 attack.
swing it!
  • #759
  • Edited 3:42am Jul 24, 2012 3:20am | Edited 3:42am
A week ago I agreed that the soft bottom in the Euro was not enough to put in a bottom that would hold and give a foundation for a corrective bounce of any tradable size for me to consider longs. I was looking for a dramatic sharp drop into the areas I put on the post a week ago.

Quoting Crassius
Spot on with the soft turn.... I am looking to put in a real low on a fast money, dramatic move as long as 1.2300 remains intact.

Some targets I have for a fast money low to be put in would be

2150
2137

Those two are so close I need higher to have a good risk/reward ratio....

1.2068 is a possibility.
The low yesterday was 1.2067 and completes for me a full move down that now warrants serious consideration of longs in the right conditions as I see a corrective wave to come off the 1.2067 low back toward 1.2320 to 1.2400.

So my bias has changed to neutral.... fundamentally EURO is crippled if not doomed.... but the technical picture calls for taking promising trades in either direction, as upside now has enough room to move for a good Risk/Reward ratio. The Dax is close to its 200 Day SMA that also supports the view that an upside corrective bounce is not out of the question.
I remain long term bearish. I am only no longer limiting myself to shorts exclusively for now.

Looking for trades Long Or Short....
  • #760
  • Jul 24, 2012 3:32am Jul 24, 2012 3:32am
Morning Gays,

Range area to watch in current 4H box 1.2090 - 1.2131
Supply area with double top @ 1.2131
Bull Pinbar on Smaller timeframe @ 1.2090

GL
If there was easy money lying around,no one would be forcing it into your
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