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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #56,401
  • Sep 26, 2012 9:01am Sep 26, 2012 9:01am
US New Home Sales +373K vs +381K expected vs +372K prior

Still continuing uptick from +295K lows in September 2011

But still nowhere close to the +1120K from January 2007
Those who say it cannot be done should not interrupt those who are doing it
  • #56,402
  • Sep 26, 2012 9:31am Sep 26, 2012 9:31am
test of 20 sma daily to come at 1.2835
200 sma daily just below at 1.2824
If these levels fail then the buy Euro orders are getting exhausted against this heavy selling pressure.
Do not know if we will see PT's high 1.27xx today but will stay onboard the southbound for now
  • #56,403
  • Sep 26, 2012 9:31am Sep 26, 2012 9:31am
Quoting PipTrapper
The most important is that it is in the same context as previous clearly visible swings.

However the technical characteristic of a valid swing high point is as follows:

The two candles immediately to the right and the two candles immediately to the left of the high candle must have progressively lower highs and at minimum, the outer candles in the group of 5 must have lows that are lower than the low of the middle candle. Furthermore, the 5 candles must only represent a portion (around 38.2% or less) of the entire swing and not represent...

thanks a lot
  • #56,404
  • Sep 26, 2012 9:34am Sep 26, 2012 9:34am
I hate the US session. Seriously BS market action half the time. To much noise in the US session.
  • #56,405
  • Sep 26, 2012 9:42am Sep 26, 2012 9:42am
my shorts are out. Hate watching this. 1/3 trade long off double bottom.
  • #56,406
  • Sep 26, 2012 9:53am Sep 26, 2012 9:53am
Ranging. What should we do
  • #56,407
  • Sep 26, 2012 10:01am Sep 26, 2012 10:01am
Quoting Ken A
Ranging. What should we do
imagine that... Got out at US open and hit sell. twice. SCREW IT! I am 20s chart scalping.
  • #56,408
  • Sep 26, 2012 10:02am Sep 26, 2012 10:02am
bought again at bottom. IF they want to do this I will take 5 pips profits. %#@$@#$ it.

Now down since it broke low but heck that is probably al the bulls wanted was to take a few north with them ona break. wooohooo
  • #56,409
  • Sep 26, 2012 10:05am Sep 26, 2012 10:05am
Am not sure this is a ranging market as of yet. Looks for now like a very slow motion train wreck in the Euro. For this much selling into what is usually a market owned by the dollar bears?
Just yesterday it took 4 hours of a very slow gind down and then it just dropped.

17 hourly down bars and 6 up bars since that break started (give you 6 up)
  • #56,410
  • Sep 26, 2012 10:08am Sep 26, 2012 10:08am
I call it "Slow Poisioning the Buyers". Buy orders are around 1.2650-1.2780 area.
  • #56,411
  • Sep 26, 2012 10:09am Sep 26, 2012 10:09am
Quoting foto
Am not sure this is a ranging market as of yet. Looks for now like a very slow motion train wreck in the Euro. For this much selling into what is usually a market owned by the dollar bears?
Just yesterday it took 4 hours of a very slow gind down and then it just dropped.
yeah but it needed some news to push it over the edge. $crew the US session.
  • #56,412
  • Sep 26, 2012 10:12am Sep 26, 2012 10:12am
rekon you do have a way with words
  • #56,413
  • Sep 26, 2012 10:14am Sep 26, 2012 10:14am
Quoting rekon67
I call it "Slow Poisioning the Buyers". Buy orders are around 1.2650-1.2780 area.

I call it the market doesn't like to make new lows or high and you have a half and half trading going on. Basically. Nobody really even after news has direction. IF the market only had sellers it would go down. Unless the BB want to simply walking out oversold conditions then selling which IMO is what happens most of the time in US session which is left over moves from London which is why it goes sideways quite a bit.
  • #56,414
  • Sep 26, 2012 10:17am Sep 26, 2012 10:17am
as a scalper I "should" love it. Find the 1-2 hour high and low and buy and sell off them after new lows during london session. Actually I do but it is usually not smooth at all.

Oh and what did I tell ya. hit a new low and rockets up. SMH Glad I was playing that.
  • #56,415
  • Sep 26, 2012 10:17am Sep 26, 2012 10:17am
TRMZXT

EURO/CAD has some pretty abrupt moves but it can be very unpredictable because that is where the interventions show up.

EURO/GBP trends very well and low volatility allows bigger position sizing with equal risk

Big effort right now to move the EURO/USD up. Defenders are starting to run out of ammunition so they sometimes try a bluff and gun the pair. This seems to be a real move so will hang on for a bit longer and see if selling absorbs the London daytraders exit.
  • #56,416
  • Sep 26, 2012 10:17am Sep 26, 2012 10:17am
Quoting PipTrapper
I'm not saying you're wrong. All I'm saying is that unless/until it breaks above the high, it's not anything other than a range
Sorry stepped out to look at university girls at mall. On my iPhone.
I thought there is some technical that i was wrong on.
Yes it is ranging from 1802 to 1522. And yes been doing so for awhile now.
It's hit and resisted 1802 three times now
It's hit and supported 1522 twice.
And I think the third one is coming.

PT what happened to cgb?

And by the way congrats on your thread.
Wooooohooooo or Boooooohooooo
  • #56,417
  • Sep 26, 2012 10:24am Sep 26, 2012 10:24am
Quoting foto
TRMZXT

EURO/CAD has some pretty abrupt moves but it can be very unpredictable because that is where the interventions show up.

EURO/GBP trends very well and low volatility allows bigger position sizing with equal risk

Big effort right now to move the EURO/USD up. Defenders are starting to run out of ammunition so they sometimes try a bluff and gun the pair. This seems to be a real move so will hang on for a bit longer and see if selling absorbs the London daytraders exit.

yeah this was a smooth release from the low and not crazy action which means it's worth something. Stop is a few pips below US Open. Target 75 with half and let it run after that with the final target of 1.2925 which won't happen but hey probably will close it sooner than that. I know I will be putting in sell orders should it get that high and range in should it go any higher.
  • #56,418
  • Sep 26, 2012 10:30am Sep 26, 2012 10:30am
I use to trade CHF 80% of the time until they pegged it. No point now.
  • #56,419
  • Sep 26, 2012 10:37am Sep 26, 2012 10:37am
Well don't ask me to wish you good luck as i am going the other way

I do agree with you the Euro is a pig
  • #56,420
  • Sep 26, 2012 10:42am Sep 26, 2012 10:42am
Quoting foto
Well don't ask me to wish you good luck as i am going the other way

I do agree with you the Euro is a pig
oh don't worry I will be going the other way soon enough. lol I am the ultimate scalper. sometimes I have have trades going both ways.
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