Just as a quick note guys... If the EUR/AUD closes below 1.1780 today prepare for a quick drop to the 1.1600/1.1615 level
- #44,321
- Jul 25, 2012 11:01am Jul 25, 2012 11:01am
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
- #44,322
- Jul 25, 2012 11:11am Jul 25, 2012 11:11am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
so The Brave took the buy around the London Open whilst I was waylaid by two big Cats.....and later by a smaller one, but that's another story......the rally ran up into the hourly resistance zone and then only managed to pull back to the R1 / 38% area, so it will be interesting to see how the US session closes.....I'll view it via a glass or two of a good Rioja 
Trading Levels with WRBs
- #44,324
- Jul 25, 2012 11:16am Jul 25, 2012 11:16am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Isn't that misspelt? Shouldn't it be bear?
Right you are 
Those who say it cannot be done should not interrupt those who are doing it
- #44,325
- Jul 25, 2012 11:38am Jul 25, 2012 11:38am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #44,326
- Jul 25, 2012 11:46am Jul 25, 2012 11:46am
- | Membership Revoked | Joined Jul 2012 | 4,197 Posts
"It's the Margin, Stupid."
- #44,327
- Jul 25, 2012 11:51am Jul 25, 2012 11:51am
- | Membership Revoked | Joined Jul 2012 | 4,197 Posts
"It's the Margin, Stupid."
- #44,328
- Jul 25, 2012 11:55am Jul 25, 2012 11:55am
- | Joined Jun 2009 | Status: nothing new under the sun | 1,428 Posts
You really have to respect the Euro, it wouldn't go down without a fight ..
i dont even want to use it as a toilet paper becos paper on which it was printed of such poor quality that it will hurt my bum. Allah has permitted trade and has forbidden interest [koran]
- #44,329
- Jul 25, 2012 12:05pm Jul 25, 2012 12:05pm
- Joined Sep 2007 | Status: Trader | 6,871 Posts
check out my blog: forexmademillionaire dot com
- #44,331
- Jul 25, 2012 12:10pm Jul 25, 2012 12:10pm
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
- #44,332
- Jul 25, 2012 12:13pm Jul 25, 2012 12:13pm
- Joined Sep 2007 | Status: Trader | 6,871 Posts
Its just a significant number from some data mining that I use on the monthly/daily/weekly TF's
I dont trade off candlestick charts. Just use numbers. Looks like My PA and your Flag are setting up to look about the same. Ill build shorts also if we close 11 pips or more under the 1.1780
check out my blog: forexmademillionaire dot com
- #44,333
- Jul 25, 2012 12:18pm Jul 25, 2012 12:18pm
- | Joined Jun 2009 | Status: nothing new under the sun | 1,428 Posts
Thanks Doc for being so kind. U r a 'fighter' and a good trader. May God bless u with many ..... many green pips.
Allah has permitted trade and has forbidden interest [koran]
- #44,334
- Jul 25, 2012 12:22pm Jul 25, 2012 12:22pm
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
Sounds good. While I'll definitely welcome 1.1600 or thereabouts... I really see this going to 1.15 or so before a decent pullback again. We'll see
This shows up as an area to build a potentially 1000+ pip position trade to me. I am just being patient and waiting for my signals to start scaling in for the first leg... wherever it goes( probably down if you want to discuss and cite fundamental bias reasons)
- #44,335
- Jul 25, 2012 12:29pm Jul 25, 2012 12:29pm
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #44,336
- Jul 25, 2012 12:35pm Jul 25, 2012 12:35pm
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #44,337
- Jul 25, 2012 12:52pm Jul 25, 2012 12:52pm
- Joined Sep 2007 | Status: Trader | 6,871 Posts
This shows up as an area to build a potentially 1000+ pip position trade to me. I am just being patient and waiting for my signals to start scaling in for the first leg... wherever it goes( probably down if you want to discuss and cite fundamental bias reasons)
check out my blog: forexmademillionaire dot com
- #44,339
- Edited 1:30pm Jul 25, 2012 1:16pm | Edited 1:30pm
- Joined Jul 2012 | Status: CME seat owner | 6,134 Posts
Sounds good. While I'll definitely welcome 1.1600 or thereabouts... I really see this going to 1.15 or so before a decent pullback again. We'll see
But I do believe parity will be reached one day. Might take another QE3 where AUD rallies double what EUR rallies, or maybe not but AUD definitely won't be faded as much after they both rally.
Daily bullish engulfing on E/U. Let's see if she will close below 1.2060 (the low and beginning of last weeks retracement, more important than Friday's close, which had already broken that very slightly up trending retracement.)
Anyone who says technicals do not matter shouldn't be trading live money. My charts are living proof you are wrong! Every single day, multiple times daily, I see fibs and MAs hit TO THE PIP (almost like there is limit orders set on the exact pip)
Look exactly where the pullback stopped for today and the 2nd rally began.
IMO fib extension from June's retracement is the most important measure for any further down move. That and the weekly channel bottom that goes back to May 2011.
E/U 30m
Edit: Never noticed this earlier today, but we had a 4hr bullish divergence. But now we have multiple 30m bearish div. and a 1hr as well. Like I say earlier, no mans land!
We also broke above the falling trend line (line drawn from 2287 to 2160, shown green on this chart and an area of major resistance until we broke above it)
Be hopeful in a winning position, and fearful in a losing position.
- #44,340
- Jul 25, 2012 1:20pm Jul 25, 2012 1:20pm
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
I can never bring myself to long this pair... the swap is just too much for me. But I love it when I'm short
Now watch the Daily close right on 1780 and just screw my entire game plan...lol