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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #46,061
  • Aug 5, 2012 4:02pm Aug 5, 2012 4:02pm
Quoting gnomoneey
has anyone seen the daily candle formed on friday for all major pairs?
Last two days look pretty much the same on all pairs. Today/tomorrow is important as far as which way we'll head in the mediate, IMO. If we take out the highs of Thursday's spike, we will probably get continuation. I for one, am not long on any pair, especially the crap EURO. Any bad news can tank that pair faster then you can hit the close button. If you're an intra daytrader, just ride the trend and trade what you see.

Anybody want to add anything?
  • #46,062
  • Aug 5, 2012 4:02pm Aug 5, 2012 4:02pm
Quoting Cgb
Here I have to draw the line... How does this article have anything to do with what this thread is all about... Euro Analysis and common discussion around this topic?

I skim the othder articles you cut and paste here because they sometimes bring information that's useful to the fundamentals of forex trading and more specifically to how it will affect the currency pair I primarily trade (E/U).

But this article brings absolutely no value this this thread at all.

Between that and your 5% Club posts, your now pushing the enveloppe for...
Good to see u and welcome back , how's your vacation ?
  • #46,063
  • Aug 5, 2012 4:08pm Aug 5, 2012 4:08pm
Quoting FXSwissTrader
Last two days look pretty much the same on all pairs. Today/tomorrow is important as far as which way we'll head in the mediate, IMO. If we take out the highs of Thursday's spike, we will probably get continuation. I for one, am not long on any pair, especially the crap EURO. Any bad news can tank that pair faster then you can hit the close button. If you're an intra daytrader, just ride the trend and trade what you see.

Anybody want to add anything?
Can I have an O'Henry instead? I don't like Snickers
I observe your reality but live my own.
  • #46,064
  • Aug 5, 2012 4:10pm Aug 5, 2012 4:10pm
Quoting Cgb
Can I have an O'Henry instead? I don't like Snickers
I actually prefer Almond Joy's myself, and when I don't feel like a nut, Mounds!

Inserted Video
  • #46,065
  • Aug 5, 2012 4:21pm Aug 5, 2012 4:21pm
Quoting AlwaysLost
Good to see u and welcome back , how's your vacation ?
In one word... AWESOME!

Had fun riding my motorcycle all over Bruce County, did some scuba diving in Tobermory, hiking the Bruce Trail while trying to keep up with my 20 year old nephew (not an easy task for an old man) and had the privilage of having a day lesson of kiteboarding with Sam Medysky (3 times Canadian National Champion).

Must say, this was one of my better vacations even if it wasn't at some exotic destination.

Glad to be back and looking forward to some green pips to take another vacation just like it soon!
I observe your reality but live my own.
  • #46,066
  • Aug 5, 2012 4:22pm Aug 5, 2012 4:22pm
Quoting Cgb
Thought I would stay for another week initially but alas, it wasn't to be. One can only take so much of sun and fun!
Glad you decided to stay out of the sun so nothing was fried and back to oily business
  • #46,067
  • Aug 5, 2012 4:35pm Aug 5, 2012 4:35pm
Anybody else see the inverse head and shoulders on the 4H chart? A move above 1.2435 (61.8% FIB of Jun29 to Jul24 drop) could push it up for a full retrace.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Aug05_1729.gif Size: 137 KB
I observe your reality but live my own.
  • #46,068
  • Aug 5, 2012 4:41pm Aug 5, 2012 4:41pm
Okay kids. If you cannot learn to play in the same sand box, it may be time to find another one.

http://4.bp.blogspot.com/_u0l2i0XyGo...00/sandbox.jpg

Please everyone (newbies and oldies) read page 1 again and again until it sinks in.

Consider this your only "head up" coz next time I see a violation of the rules, I'm gonna go all hairy ass monkey on the iggy button.

http://rlv.zcache.com/kiss_my_hairy_...1en878_210.jpg

Thank you for reading
Those who say it cannot be done should not interrupt those who are doing it
  • #46,069
  • Aug 5, 2012 4:43pm Aug 5, 2012 4:43pm
Quoting Cgb
Anybody else see the inverse head and shoulders on the 4H chart? A move above 1.2435 (61.8% FIB of Jun29 to Jul24 drop) could push it up for a full retrace.
Nope


Quoting PipTrapper
...A note on the side of caution... The inverse head/Shoulders pattern on H4 is not yet invalidated. An E/U rally on some surprise hopiumized news could take price up towards the 1.2440 neckline and a breach of that could propel price up to the 1.27xx zone. Based on the underlying fundamentals and general market sentiment, it is highly unlikely, but don't dismiss the possibility...
Those who say it cannot be done should not interrupt those who are doing it
  • #46,070
  • Aug 5, 2012 4:44pm Aug 5, 2012 4:44pm
Quoting Cgb
Anybody else see the inverse head and shoulders on the 4H chart? A move above 1.2435 (61.8% FIB of Jun29 to Jul24 drop) could push it up for a full retrace.
Yep. I saw that but hopefully it's a fakeout.
  • #46,071
  • Aug 5, 2012 4:46pm Aug 5, 2012 4:46pm
Quoting Cgb
Anybody else see the inverse head and shoulders on the 4H chart? A move above 1.2435 (61.8% FIB of Jun29 to Jul24 drop) could push it up for a full retrace.
It's been a straight line from 1.2133. Looks like a continuation. What hopium can last this long? Will wait until London to take any positions.
  • #46,072
  • Aug 5, 2012 4:53pm Aug 5, 2012 4:53pm
Quoting PipTrapper
Nope
Guess I missed that post of your PT... Sorry for pointing it out
I observe your reality but live my own.
  • #46,073
  • Aug 5, 2012 4:58pm Aug 5, 2012 4:58pm
EU - indifferent market situation
Weekly & monthly could go further up, daily range more down.
Good aspects for Scalping till it's getting clearer.
...and abrupt price movements on the singles 4H way seems echo some economic-policy comments.
1.2390 seems for me a favored entry level for executing some shorts.
  • #46,074
  • Aug 5, 2012 5:00pm Aug 5, 2012 5:00pm
Quoting Cgb
Guess I missed that post of your PT... Sorry for pointing it out
Nooo. Don't apologize. I've pointed it out a few times and I'm not sure anybody noticed. I was only trying to be funny
Those who say it cannot be done should not interrupt those who are doing it
  • #46,075
  • Aug 5, 2012 5:00pm Aug 5, 2012 5:00pm
Quoting Forexcube
EU - indifferent market situation
Weekly & monthly could go further up, daily range more down.
Good aspects for Scalping till it's getting clearer.
  • #46,076
  • Aug 5, 2012 5:01pm Aug 5, 2012 5:01pm
Quoting Forexcube
EU - indifferent market situation
Weekly & monthly could go further up, daily range more down.
Good aspects for Scalping till it's getting clearer.
Exactly.
I have pegged the limits of this indecision range at 2170 and 2440
Those who say it cannot be done should not interrupt those who are doing it
  • #46,077
  • Aug 5, 2012 5:07pm Aug 5, 2012 5:07pm
Quoting PipTrapper
Nooo. Don't apologize. I've pointed it out a few times and I'm not sure anybody noticed. I was only trying to be funny
I'm sure people noticed, your words are always read carefully (at least by me they are).

Also of note, the 55EMA on the daily has proven to be strong resistance for the last 4 times price has tried to move above. It sits at 1.2413 right now.
I observe your reality but live my own.
  • #46,078
  • Aug 5, 2012 5:08pm Aug 5, 2012 5:08pm
Quoting Ken A
It's been a straight line from 1.2133. Looks like a continuation. What hopium can last this long? Will wait until London to take any positions.
Yes this low from Draghi Event is the lifetime 50 fib.

I have small short floating from 1.2382

I have limits at 1.2410s/20s with stops above 2440s and at 2480s/90s stops above 2750s, more sell limits at 2570s and 2680s and 2730s with stops above 2750s

I suspect a pull back to 1.2330s (overbought into 1.2405 huge resistance) before going higher (if)
Be hopeful in a winning position, and fearful in a losing position.
  • #46,079
  • Aug 5, 2012 5:23pm Aug 5, 2012 5:23pm
Quoting Rag2RichesFX
Yes this low from Draghi Event is the lifetime 50 fib.

I have small short floating from 1.2382

I have limits at 1.2410s/20s with stops above 2440s and at 2480s/90s stops above 2750s, more sell limits at 2570s and 2680s and 2730s with stops above 2750s

I suspect a pull back to 1.2330s (overbought into 1.2405 huge resistance) before going higher (if)
Well it looks like you've got it all covered then. Well if we don't break to the upside when Asia gets down to serious trading in less than 2 hours, then we'll have to see how London feels about it. If London loses interest in the bullish move, then I'd say it's probably over until the next dose of hopium is injected.

Since this up move goes against the underlying fundamentals and is fueled only by hopiumized speculation, any perceived weakness by the bulls and I suspect the bears will be all over it in no time. I know I will.
Those who say it cannot be done should not interrupt those who are doing it
  • #46,080
  • Edited 6:08pm Aug 5, 2012 5:25pm | Edited 6:08pm
Quoting Cgb
Anybody else see the inverse head and shoulders on the 4H chart? A move above 1.2435 (61.8% FIB of Jun29 to Jul24 drop) could push it up for a full retrace.
Still blur . I had completed one of my 'shadow' Inverse Head and Shoulders on D1 but try to find good reasons how Euro going to climb there with the current fundamentals scenario unless USD injected additional stimulus / implement QE 3 or ECB with aggressive interventions program.




ADD : I got Assumption B. Will post later.
Correction on the chart : Shoulder . Sorry for wrong typo.
Attached Image (click to enlarge)
Click to Enlarge Name: EU D1 20120805 H nS Assumption A.jpg Size: 134 KB
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