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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #49,621
  • Aug 23, 2012 8:18am Aug 23, 2012 8:18am
Here's a tune this afternoon for our beloved pair...

Inserted Video
Those that say do not know. Those that know do not say.
  • #49,622
  • Aug 23, 2012 8:20am Aug 23, 2012 8:20am
Okay here's an update from my current perspective.

Price has hit and bounced off the falling trend line and is now consolidating near the highs. No dips to speak of. My feeling now is that the trend line will be taken out and we at least get a touch of the 38.2 Fibo.

If it spikes up and gets rejected immediately, that may be the first sign of reversal. However, if it keep hammering away at it, that's a sign that some hedge fund or other deep pocketed entity wants a higher price and we probably get that overshoot I mentioned earlier.

Here's the chart

E/U Daily
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Those who say it cannot be done should not interrupt those who are doing it
  • #49,623
  • Edited 8:22am Aug 23, 2012 8:21am | Edited 8:22am
This was a nice read on trends and fibs. Short(article)

http://www.dailyfx.com/forex/educati...esistance.html
  • #49,624
  • Aug 23, 2012 8:22am Aug 23, 2012 8:22am
[quote=PipTrapper;5953110]Yep, I've had my eye on that as well as other indications of a top out. Also cgb brought it up earlier.

All I'm wondering now is if we'll get an overshoot. After major short coverings, they are almost a must before a reversal.[/QUOTE
You thinking 1.2590 as an overshoot? If this bar closes below the bottom line I'll take a short and sl just above the top line of the wedge.. Have a lot of lost ground to make up from yesterday
  • #49,625
  • Aug 23, 2012 8:23am Aug 23, 2012 8:23am
Quoting PipTrapper
Okay here's an update from my current perspective.

Price has hit and bounced off the falling trend line and is now consolidating near the highs. No dips to speak of. My feeling now is that the trend line will be taken out and we at least get a touch of the 38.2 Fibo.

If it spikes up and gets rejected immediately, that may be the first sign of reversal. However, if it keep hammering away at it, that's a sign that some hedge fund or other deep pocketed entity wants a higher price and we probably get that overshoot I mentioned earlier.

Here's...
  • #49,626
  • Aug 23, 2012 8:24am Aug 23, 2012 8:24am
Quoting PipTrapper
Okay here's an update from my current perspective.

Price has hit and bounced off the falling trend line and is now consolidating near the highs. No dips to speak of. My feeling now is that the trend line will be taken out and we at least get a touch of the 38.2 Fibo.

If it spikes up and gets rejected immediately, that may be the first sign of reversal. However, if it keep hammering away at it, that's a sign that some hedge fund or other deep pocketed entity wants a higher price and we probably get that overshoot I mentioned earlier.

Here's...
May possibly spike up but IMO equity markets don't look good to support this outlook. Both currencies are basically of equal strength so far today and will probably just range without any clear direction. If anything, it should fall in line with A/U, U/C and G/U. It is being stubborn. We'll see once equity market opens in NY.
  • #49,627
  • Aug 23, 2012 8:30am Aug 23, 2012 8:30am
Quoting FXSwissTrader
May possibly spike up but IMO equity markets don't look good to support this outlook. Both currencies are basically of equal strength so far today and will probably just range without any clear direction. If anything, it should fall in line with A/U, U/C and G/U. It is being stubborn. We'll see once equity market opens in NY.
Thanks for the feedback Swissy. I agree it doesn't look good, but it didn't look good all week either... and out of nowhere we get a friggin rally.
Those who say it cannot be done should not interrupt those who are doing it
  • #49,628
  • Aug 23, 2012 8:33am Aug 23, 2012 8:33am
Fancy investing in a Greek island? Report says Greece could cash in on isles to boost budget
Those who say it cannot be done should not interrupt those who are doing it
  • #49,629
  • Aug 23, 2012 8:38am Aug 23, 2012 8:38am
Quoting PipTrapper
Fancy investing in a Greek island? Report says Greece could cash in on isles to boost budget

If we hit 1.20 I can afford half of one wanna go halfs with me PT or will we get a loan and buy the whole of Greece?
  • #49,630
  • Aug 23, 2012 8:45am Aug 23, 2012 8:45am
Quoting PipTrapper
Okay here's an update from my current perspective.

Price has hit and bounced off the falling trend line and is now consolidating near the highs. No dips to speak of. My feeling now is that the trend line will be taken out and we at least get a touch of the 38.2 Fibo.

If it spikes up and gets rejected immediately, that may be the first sign of reversal. However, if it keep hammering away at it, that's a sign that some hedge fund or other deep pocketed entity wants a higher price and we probably get that overshoot I mentioned earlier.

Here's...
Please do not execute me for this post, but educate me you equity traders.

I see a possibility of a reversal or at least indecision going into Friday based on what I'm seeing in daily candles.
Will some of you better candlestick readers please enlighten me!

Thanks in advance
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  • #49,631
  • Aug 23, 2012 8:45am Aug 23, 2012 8:45am
Quoting PipTrapper
Thanks for the feedback Swissy. I agree it doesn't look good, but it didn't look good all week either... and out of nowhere we get a friggin rally.
Yeah but I'm speaking of it from an intraday perspective and not longterm. I mention earlier today as to three markets that I check and monitor throughout the day. After looking at those markets, I will then use different factors using my daily TA to pick a pair/or pairs and a direction. I have periodically shared those here.
  • #49,632
  • Aug 23, 2012 8:52am Aug 23, 2012 8:52am
Maybe New Home Sales will decide a movement somewhere.
  • #49,633
  • Aug 23, 2012 8:54am Aug 23, 2012 8:54am
Quoting mka_78
There is also a powerful button called INGORE
Thats my favourite after sell.
"I know one thing, that I know nothing." Sokrates
  • #49,634
  • Edited 9:28am Aug 23, 2012 9:14am | Edited 9:28am
you can tell the market feels oversold but doesn't really know how to react. To afraid to buy and trend is not to sell. Small range with a little upside probably. If it does not break todays high by around noon on a restest probably going to go down for at least a day or so with a small retest.
  • #49,635
  • Aug 23, 2012 9:17am Aug 23, 2012 9:17am
Quoting Gofer Pips
Please do not execute me for this post, but educate me you equity traders.

I see a possibility of a reversal or at least indecision going into Friday based on what I'm seeing in daily candles.
Will some of you better candlestick readers please enlighten me!

Thanks in advance
Are there none here or am I on "iggy" list?
  • #49,636
  • Aug 23, 2012 9:19am Aug 23, 2012 9:19am
Quoting PipTrapper
Greece PM Samaras: Speculation on Greek exit must end – Le Monde

[indent]Greece needs a ‘little breathing space’
Greece will accelerate privatizations
His country can be saved
Euro exit would be a disaster for country
Euro exit would damage Europe
Euro exit would mean 70% Greek living standard drop
Greek living standards already down 35%
Greece in process of changing its systems...
Pt for me i think its another 70% drop from the current standard meaning 70% of the remaining 65% whahahahaha
  • #49,637
  • Aug 23, 2012 9:20am Aug 23, 2012 9:20am
Quoting Gofer Pips
Are there none here or am I on "iggy" list?
indecision at resistance is what I see. didn't think I would qualify as better though
Kill the ego, or it will kill the mission.
  • #49,638
  • Aug 23, 2012 9:21am Aug 23, 2012 9:21am
Y. This is a breakzone. Currently Daily is finally below its open, Bounced of Daily UTL + Fibo combo, now can continue both ways. Itraday money flow aint my parket, so I wait. But it is nice watch anyway. I really wonder where this H4 closes.

T
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"I know one thing, that I know nothing." Sokrates
  • #49,639
  • Aug 23, 2012 9:21am Aug 23, 2012 9:21am
Quoting ProfitsOnly
Pt for me i think its another 70% drop from the current standard meaning 70% of the remaining 65% whahahahaha
I was actually thinking that maybe -5% sounds about right.
Kill the ego, or it will kill the mission.
  • #49,640
  • Aug 23, 2012 9:21am Aug 23, 2012 9:21am
Quoting AaronWard
indecision at resistance is what I see. didn't think I would qualify as better though
Thanks Bro'. Long time no see. Hope all well with you!
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