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Trading EURUSD only

  • #3,521
  • Oct 21, 2012 4:06pm Oct 21, 2012 4:06pm
8:30pm USD FOMC Member Pianalto Speaks
  • #3,522
  • Oct 21, 2012 4:06pm Oct 21, 2012 4:06pm
E/U cannot be compared to oil in no respect. Good day tarder can make huge profits with oil. Oil gives far more opportunities than e/u. One Japanese trader told that being afraid of volatility is being afraid of profits and oil is very volatile. Huge pip runs too.

Quoting stevewalker
I have only one Pair at All my marketwatch tabs ( Demo/Live) "EURUSD"

oil is your expertise.

I am too old to learn a new instrument.
one instrument is more then enough for me.
I am merried with EU & want to know it better.
when you spend time > 5 years with same thing, you can even predict what is next move before it does.
  • #3,523
  • Oct 21, 2012 4:07pm Oct 21, 2012 4:07pm
now lets analyze MKT.

what we have in our hand.
  • #3,524
  • Oct 21, 2012 4:11pm Oct 21, 2012 4:11pm
3020 Lower Channel
3033 Diagonal
3045 Upper Channel

chart has printed its 3rd wave down.
it has also 3rd wave up still valid.
( waves new code. experimental but will give some information. )

so price is making big waves with going nowhere.

price is actually sitting on Lower Cahhnel & 1st Fibo 3019 %38.2
  • #3,525
  • Oct 21, 2012 4:12pm Oct 21, 2012 4:12pm
the formation 1H bars telling me it is going to roll down.

but @ this hour of day & first week day I am not taking it.


Quoting stevewalker
3020 Lower Channel
3033 Diagonal
3045 Upper Channel

chart has printed its 3rd wave down.
it has also 3rd wave up still valid.
( waves new code. experimental but will give some information. )

so price is making big waves with going nowhere.

price is actually sitting on Lower Cahhnel & 1st Fibo 3019 %38.2
  • #3,526
  • Oct 21, 2012 4:14pm Oct 21, 2012 4:14pm
3022 Lower Channel
3074 Diagonal
3109 Upper Channel

price is actually sitting on Lower Cahannel & 1st Fibo 3019 %38.2

so for bottom there is confirmation @ 1H & 4H charts
  • #3,527
  • Oct 21, 2012 4:16pm Oct 21, 2012 4:16pm
Quoting stevewalker
the formation 1H bars telling me it is going to roll down.

but @ this hour of day & first week day I am not taking it.

I tend to agree with you. My poor trade, another BE.
  • #3,528
  • Oct 21, 2012 4:18pm Oct 21, 2012 4:18pm
2924 Lower Channel
3012 Diagonal
3125 Upper Channel

price is actually sitting on Diagonal

another confimation for bottom additional to 1H & 4H

so in general price has reached & created some supports for itself to sit on.

reached : Fibo
created : lower channels & diagonal

this does not mean that it will go up
  • #3,529
  • Oct 21, 2012 4:19pm Oct 21, 2012 4:19pm
I would hate if this ranging continues. The big picture is eur/usd down trend on weekly. The question is when it will resume. I doubt this trend is going to reverse until Europe resolve core issues. The biggest is Eur is not a stable currency which might dissapear. I think it is grossly overvalued.
  • #3,530
  • Oct 21, 2012 4:20pm Oct 21, 2012 4:20pm
first Fibo levels for D1 are
2999 2725 bottom
3099 3148 up

Quoting stevewalker
2924 Lower Channel
3012 Diagonal
3125 Upper Channel

price is actually sitting on Diagonal

another confimation for bottom additional to 1H & 4H

so in general price has reached & created some supports for itself to sit on.

reached : Fibo
created : lower channels & diagonal

this does not mean that it will go up
  • #3,531
  • Oct 21, 2012 4:21pm Oct 21, 2012 4:21pm
Quoting stevewalker
2924 Lower Channel
3012 Diagonal
3125 Upper Channel

price is actually sitting on Diagonal

another confimation for bottom additional to 1H & 4H

so in general price has reached & created some supports for itself to sit on.

reached : Fibo
created : lower channels & diagonal

this does not mean that it will go up

you should also notice that price moved away from MA's on daily chart pretty sharply. in such cases it is very unlikely that move up will continue. there is always a chance but not likely. when trend starts it is usually starts with smaller moves and then some violent BE not far from ma's but along with them whcih is not a case now.
  • #3,532
  • Oct 21, 2012 4:21pm Oct 21, 2012 4:21pm
the ignition of up move will be bounce over 3024. 15M & 30M

before that no long action.

but also this may be orderbook fill. means collecting sell orders to move down.

now I am watching 3024 & bounce over/below
  • #3,533
  • Oct 21, 2012 4:22pm Oct 21, 2012 4:22pm
Quoting stevewalker
first Fibo levels for D1 are
2999 2725 bottom
3099 3148 up

Steve, you probably want to say that your analysis might be wrong and price might go up too?
  • #3,534
  • Oct 21, 2012 4:24pm Oct 21, 2012 4:24pm
yes
that may means price overstretched.



Quoting shiko
you should also notice that price moved away from MA's on daily chart pretty sharply. in such cases it is very unlikely that move up will continue. there is always a chance but not likely. when trend starts it is usually starts with smaller moves and then some violent BE not far from ma's but along with them whcih is not a case now.
  • #3,535
  • Oct 21, 2012 4:26pm Oct 21, 2012 4:26pm
I did analyze actual situation.

for me to say exither way, I should see signs of it.

eg... now watching 3024

Quoting shiko
Steve, you probably want to say that your analysis might be wrong and price might go up too?
  • #3,536
  • Oct 21, 2012 4:27pm Oct 21, 2012 4:27pm
I can easly say that the actual formation of 1H chart is bear.
it wants to make another move down.

but if support strong & may reject.

so I will wait some more hours to see what the reactions are.
  • #3,537
  • Oct 21, 2012 4:36pm Oct 21, 2012 4:36pm
it might roll down last week.
bu did not.

may be big players waited for summit results.

but there is nothing came out from summit except bank supervising @ jan 2013

so there are actually to many conflicts.

on the other hand while summit did not give ( I far as I see ) what is expected but there is no gap open to south.

so for me it is all mixed up.
  • #3,538
  • Oct 21, 2012 4:39pm Oct 21, 2012 4:39pm
when looking 1H chart

for up;

the best setup will be bounce below 3033 then bounce over 3020 then up.

PS : 3033 & 3020 digonal. they are closing each other with every new bar.
  • #3,539
  • Oct 21, 2012 4:40pm Oct 21, 2012 4:40pm
but first 3024

Quoting stevewalker
when looking 1H chart

for up;

the best setup will be bounce below 3033 then bounce over 3020 then up.

PS : 3033 & 3020 digonal. they are closing each other with every new bar.
  • #3,540
  • Oct 21, 2012 4:43pm Oct 21, 2012 4:43pm
spread 6 x average

not liquid

price waving
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