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  • #2,341
  • Nov 20, 2012 8:37am Nov 20, 2012 8:37am
Also euro/aussie but that is a negative carry, we are about to attack res at 1,2357, close daily above would be nice for bulls.
Good 120 pips is on the table as 2477 would be next line for me and good short opportunity.
weekly wise 2820 if move from 2160 is a new trend in the making.
swing it!
  • #2,342
  • Nov 20, 2012 8:40am Nov 20, 2012 8:40am
Quoting Orly
I am calling the top in the EURUSD from the Fibo @~1.283 on the H4.
Downside target 1.252.

Wish me luck! I need it!
I think it is risky to take any positon atm, not until fundies move our pair tonight, If you are short from above - fine, if you are long from below - fine.
Taking position in a box for longer legs can be deadly,
swing it!
  • #2,343
  • Nov 20, 2012 8:41am Nov 20, 2012 8:41am
Quoting Orly
I am calling the top in the EURUSD from the Fibo @~1.283 on the H4.
Downside target 1.252.

Wish me luck! I need it!
I think it is risky to take any positon atm, not until fundies move our pair tonight, If you are short from above - fine, if you are long from below - fine.
Taking position in a box for longer legs can be deadly,
good luck if you're in.
swing it!
  • #2,344
  • Nov 20, 2012 8:47am Nov 20, 2012 8:47am
Quoting tomspin
I think it is risky to take any positon atm, not until fundies move our pair tonight, If you are short from above - fine, if you are long from below - fine.
Taking position in a box for longer legs can be deadly,
good luck if you're in.
Seems they've thrown everything at it already to not much avail. I am not in yet but will let my robot take it down quietly. After striking the Fibo level, the next H4 candle failed to make new highs, which also indicates buying exhaustion, especially with equities treading water here.
What does it mean, "fundies"?
  • #2,345
  • Nov 20, 2012 8:55am Nov 20, 2012 8:55am
Quoting Orly
Seems they've thrown everything at it already to not much avail. I am not in yet but will let my robot take it down quietly. After striking the Fibo level, the next H4 candle failed to make new highs, which also indicates buying exhaustion, especially with equities treading water here.
What does it mean, "fundies"?
fundies - fundamental data, I am flat on euro so waiting for a reason to go long or short
swing it!
  • #2,346
  • Nov 20, 2012 9:01am Nov 20, 2012 9:01am
Quoting tomspin
fundies - fundamental data, I am flat on euro so waiting for a reason to go long or short
There is nothing major coming out of Europe tonight that I can see, unless you're counting British public sector borrowing and US jobless claims.

http://www.zerohedge.com/news/2012-1...w-sinking-fast
http://www.zerohedge.com/news/2012-1...s-extend-gains

"European stocks extended their gains on the day - playing catch up to yesterday afternoon's US equity ebullience but this time corporate and financial credit are not playing along with the exuberance (though sovereigns are better)."
  • #2,347
  • Nov 20, 2012 9:10am Nov 20, 2012 9:10am
he will move it or europe will do, there is a reason for todays ranging market and his name is Ben

http://s12.postimage.org/l5mvy8fg9/image.jpg
swing it!
  • #2,348
  • Edited 9:49am Nov 20, 2012 9:29am | Edited 9:49am
Quoting tomspin
he will move it or europe will do, there is a reason for todays ranging market and his name is Ben

I think traders are unwilling to move price as we wait on the meaningless Greek deal/no deal/maybe a deal/there will be a deal just not yet bullshit.

Bears are reluctant to load up fearing a pop, and frankly the Bulls have already bought the rumor.... that's what brought us this high....

You have my chart posted earlier for upside levels... one more I am watching is the descending channel top of the whole move down that comes in near 1.2852 today.

If we get a pop through the 1.2830 resistance that in normal conditions would be reliable on Greek bullshit news spike , I am looking for 1.2841 (50% fib of wave III) next resistance... if1.2841 gives the channel top should catch, or Bears need to start worrying.

I'm looking for either disappointment out of Greek talks today, or a "It was all a buy the rumor sell the fact event."
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  • #2,349
  • Nov 20, 2012 9:34am Nov 20, 2012 9:34am
Quoting Crassius
I think traders are unwilling to move price as we wait on the meaningless Greek deal/no deal/maybe a deal/there will be a deal just not yet bullshit.

Bears are reluctant to load up fearing a pop, and frankly the Bulls have already bought the rumor.... that's what brought us this high....

You have my chart posted earlier for upside levels... one more I am watching is the descending channel top of the whole move down that comes in near 1.2852 today.

If we get a pop through the 1.2830 resistance that in normal conditions would be reliable...
yep strongly agree on 2852, got same level and think this could be perfect spot to initiate short sell if we will come back there
shorts technically are far better RR than bulls, if somebody didn't bought her near 2700 this is not a good place to add any longs imo.
Ben didn't write anything new so Greece will move it tonight.
Any hints on delay and we will drop hard,
swing it!
  • #2,350
  • Nov 20, 2012 9:41am Nov 20, 2012 9:41am
I would like to welcome the new voices here at Tom's place.

I would encourage posters to include a chart whenever possible, especially if making a prediction, or referring to levels. You will make your point better understood, and the thread more valuable to other participants.
  • #2,351
  • Nov 20, 2012 10:20am Nov 20, 2012 10:20am
Tentative time for Eurogroup press conference 20:00GMT... 1 hour 40 min from now
  • #2,352
  • Nov 20, 2012 10:41am Nov 20, 2012 10:41am
Quoting Crassius
Tentative time for Eurogroup press conference 20:00GMT... 1 hour 40 min from now
Won't have access to internet by then I would expect more delay, could be wrong,
Catch you guys later
swing it!
  • #2,353
  • Nov 20, 2012 11:27am Nov 20, 2012 11:27am
Eurozone announcement coming now....
  • #2,354
  • Nov 20, 2012 11:28am Nov 20, 2012 11:28am
Quoting Crassius
Eurozone announcement coming now....

Sounds like they are releasing just enough to demonstrate they are negotiating but have made no final agreement at this time...
  • #2,355
  • Edited 11:31am Nov 20, 2012 11:31am | Edited 11:31am
Quoting Crassius
Sounds like they are releasing just enough to demonstrate they are negotiating but have made no final agreement at this time...
Wondering if this is damage control before the presser.... "no decisions yet" stands out this close to the press conference
  • #2,356
  • Edited 11:35am Nov 20, 2012 11:33am | Edited 11:35am
Quoting Crassius
Wondering if this is damage control before the presser.... "no decisions yet" stands out this close to the press conference

Ministers have "paused their meeting" to allow Troika to work... unlikely 20:00 GMT tentative press conference will go off now on time...
  • #2,357
  • Nov 20, 2012 11:42am Nov 20, 2012 11:42am
Sources say ---

There are fundamental differences between IMF and EZ... the meeting has broken up and pruvate talks are taking place to see if the differences can be surpassed
  • #2,358
  • Nov 20, 2012 11:54am Nov 20, 2012 11:54am
According to official Eurogroup meeting has resumed after the pause to discuss options....
  • #2,359
  • Nov 20, 2012 6:13pm Nov 20, 2012 6:13pm
Good day to you,

Since both my trading systems are mostly mechanical, I will not be able to explain too much in terms of TA. But adding a chart anyway.

GU has now eventually started to show a bullish flip too. So I'm looking to go long on GU here @ 1.5927. Will add one more long on the next little dip - but SL set just below the weekly open @ 1.5881. I do believe we have reasonable support below price now - with the Monday close @ 1.5906 as well as last week's opening price @ 1.5901 and it would be encouraging if these hold for now.

All the best

Regards
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  • #2,360
  • Nov 20, 2012 7:40pm Nov 20, 2012 7:40pm
With no press conference now, it will b most interesting to see market reaction to individual finance minister comments as they dribble out....

Ultimately the Bulls have to read this as a disappointment....
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