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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #61,601
  • Nov 27, 2012 7:29am Nov 27, 2012 7:29am
SELL at 1.2985

I think we'll have a Head and Shoulders.
A good place for the Right Shoulder is at 1.2985 where we have : 79% fib, support, back side of the trend line, MACD divergence.
Also Double Top on GBP/USD 1H and posible Head and Shoulders on USD/CHF.

We'll see tomorrow!
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  • #61,602
  • Nov 27, 2012 7:52am Nov 27, 2012 7:52am
I think still u guys are not selling well. 1.2940 you should try first with all ur lots.
  • #61,603
  • Nov 27, 2012 7:55am Nov 27, 2012 7:55am
shorts beware, imo

we have what seems to be higher lows despite a brief sell off after the greek debt "solution." these markets simply love the inner trend lines lately. they have been extremely reliable adding additional [unwanted] layers of chop. markets are still quite thin. its been a struggle for me the past week, that is for sure.

i am considering longs at 2910ish and shorts at 3020
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Any prices quoted are futures
  • #61,604
  • Nov 27, 2012 8:08am Nov 27, 2012 8:08am
WooHoo!
  • #61,605
  • Nov 27, 2012 8:17am Nov 27, 2012 8:17am
USDCAD boosted up.
  • #61,606
  • Nov 27, 2012 8:23am Nov 27, 2012 8:23am
Quoting redteamgo
shorts beware, imo

we have what seems to be higher lows despite a brief sell off after the greek debt "solution." these markets simply love the inner trend lines lately. they have been extremely reliable adding additional [unwanted] layers of chop. markets are still quite thin. its been a struggle for me the past week, that is for sure.

i am considering longs at 2910ish and shorts at 3020
Watching 1.2912 either bounce or break.
  • #61,607
  • Nov 27, 2012 8:47am Nov 27, 2012 8:47am
One more sweet spot still awaits:
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  • #61,608
  • Nov 27, 2012 8:50am Nov 27, 2012 8:50am
Anyone trades GBP/JPY ? Interesting situation up there...
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  • #61,609
  • Nov 27, 2012 12:08pm Nov 27, 2012 12:08pm
Quoting Likerty
One more sweet spot still awaits:
I seriously doubt that the market is going to give you another bite of the apple THAT good, but you never know.

As for me, I'm just holding my existing shorts, and adding to them as price action warrants.

Of course, my perspective is that we just hit what may be the high point for many days/weeks/months, and your opinion may differ.
Student of the Markets
  • #61,610
  • Nov 27, 2012 12:18pm Nov 27, 2012 12:18pm
Quoting dchristi
I seriously doubt that the market is going to give you another bite of the apple THAT good, but you never know.

As for me, I'm just holding my existing shorts, and adding to them as price action warrants.

Of course, my perspective is that we just hit what may be the high point for many days/weeks/months, and your opinion may differ.
As bearish as I am, at this point considering the risk of the Fed getting all stupid again, I would not be too quick to discount the slim chance of one more push upwards from 1.2840 support to possibly as high as 1.3170 area to form a triple top... However, I wouldn't bet on it. It's just the devil's advocate in me speaking here.
Those who say it cannot be done should not interrupt those who are doing it
  • #61,611
  • Nov 27, 2012 12:24pm Nov 27, 2012 12:24pm
Quoting PipTrapper
As bearish as I am, at this point considering the risk of the Fed getting all stupid again, I would not be too quick to discount the slim chance of one more push upwards from 1.2840 support to possibly as high as 1.3170 area to form a triple top... However, I wouldn't bet on it. It's just the devil's advocate in me speaking here.
One never knows, of course. But I suspect we are moving into the "regret" phase of the cycle, where traders are going to wish that they had just held their shorts instead of trying to play the bounces. But, hell...what do I know?
Student of the Markets
  • #61,612
  • Nov 27, 2012 12:44pm Nov 27, 2012 12:44pm
Today daily candle shows more downside, weekly time frame tells after going down it will rise again and goes higher than 1.3020
today down move is just a retracement and we should wait for good and cheap entry level for buy?
or upside move is done and we should forget to long this pair?
should i buy the dips or ... ?
really no idea, any suggestions appreciated

Edit: I'm not talking about 10-15 pips.
  • #61,613
  • Nov 27, 2012 12:53pm Nov 27, 2012 12:53pm
Quoting HCGroup
Today daily candle shows more downside, weekly time frame tells after going down it will rise again and goes higher than 1.3020
today down move is just a retracement and we should wait for good and cheap entry level for buy?
or upside move is done and we should forget to long this pair?
should i buy the dips or ... ?
really no idea, any suggestions appreciated
That all depends on what time line you are trading in. Mid term and long term, the Euro is going down hard. In the short term, which ever way you go, if you're using high leverage, keep a very tight stop until the market gives you a clear signal.

On the bullish side, a buy at 1.2840 should be a safe bet because even if it is going down from there, 1.2840 should give you enough of a bounce up to lock in at break even.

On the bearish side, enter with a partial position on anything over 1.2940/60 with a daily close above 1.30 as a stop, or you can wait until price clears and closes below 1.2840 and then sell rallies from there. Ultimate target is the July low at 1.2040 but I would take partial profit at 1.2660 area and again at 1.2470 area

Just my 2 cents.
Those who say it cannot be done should not interrupt those who are doing it
  • #61,614
  • Nov 27, 2012 12:59pm Nov 27, 2012 12:59pm
By the way (and no offence intended, especially to 100PipsADay), anybody thinking that the Euro will see 1.35/6 area before 1.24xx has obviously swallowed more hopium gas than the market at large. Hey you may be proven right bit I just don't see how that is even remotely a high probability trade. Perhaps my bias is blinding me, Who know's.. but that's how I see it.
Those who say it cannot be done should not interrupt those who are doing it
  • #61,615
  • Nov 27, 2012 1:07pm Nov 27, 2012 1:07pm
Quoting PipTrapper
That all depends on what time line you are trading in. Mid term and long term, the Euro is going down hard. In the short term, which ever way you go, if you're using high leverage, keep a very tight stop until the market gives you a clear signal.

On the bullish side, a buy at 1.2840 should be a safe bet because even if it is going down from there, 1.2840 should give you enough of a bounce up to lock in at break even.

On the bearish side, enter with a partial position on anything over 1.2940/60 with a daily close above 1.30 as a stop, or...
Why 2840?
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  • #61,616
  • Edited 1:27pm Nov 27, 2012 1:16pm | Edited 1:27pm
Quoting PipTrapper
That all depends on what time line you are trading in. Mid term and long term, the Euro is going down hard. In the short term, which ever way you go, if you're using high leverage, keep a very tight stop until the market gives you a clear signal.

On the bullish side, a buy at 1.2840 should be a safe bet because even if it is going down from there, 1.2840 should give you enough of a bounce up to lock in at break even.

On the bearish side, enter with a partial position on anything over 1.2940/60 with a daily close above 1.30 as a stop, or you...
thank you dear pt.
so you're agree with me about that there is no clear signal about trend direction.
I wish today daily candle close at better price, above 1.2960 (61.8 fib level of last daily down move) or below 1.2924 (23.6 fib level of the last bullish move).
closing here is the worst scenario, coz closing here don't signal clear for tomorrow and i should stand a side and watching price action to buy at 1.2875-60 or sell it at 1.2960.

Thanks pt for sharing your trade ideas with me and others
  • #61,617
  • Nov 27, 2012 1:20pm Nov 27, 2012 1:20pm
Quoting Likerty
Why 2840?
50% retracement of current move on 4 hour chart,
  • #61,618
  • Nov 27, 2012 1:24pm Nov 27, 2012 1:24pm
i am watching at 1.2840, how you found this point?
i have 1.2802 , 1.2825 and 1.2875 (change of polarity & 38.2 fibo)
  • #61,619
  • Nov 27, 2012 2:41pm Nov 27, 2012 2:41pm
Quoting Likerty
Why 2840?
Quoting HCGroup
i am watching at 1.2840, how you found this point?
i have 1.2802 , 1.2825 and 1.2875 (change of polarity & 38.2 fibo)
Well it's not precisely 1.2840, but rather the zone between 1.283 and 1.285

1. Daily 55 ema is at 1.2845 and expected to be a bit lower if/when price reaches it
2. Daily 200 ema is at 1.283 and is expected to be within 1 or 2 pips of that if/when price reaches it.
3. 50% fibo retrace of move up from 1.26591 to 1.30076 is at 1.28334
4. 1.2823/47 is a recent historical support/resistance zone.

E/U Daily:
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Those who say it cannot be done should not interrupt those who are doing it
  • #61,620
  • Nov 27, 2012 2:43pm Nov 27, 2012 2:43pm
Quoting PipTrapper
Well it's not precisely 1.2840, but rather the zone between 1.283 and 1.285

1. Daily 55 ema is at 1.2845 and expected to be a bit lower if/when price reaches it
2. Daily 200 ema is at 1.283 and is expected to be within 1 or 2 pips of that if/when price reaches it.
3. 50% fibo retrace of move up from 1.26591 to 1.30076 is at 1.28334
4. 1.2823/47 is a recent historical support/resistance zone.

E/U Daily:
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i like 2855-75 myself PT

have a good evening
Be hopeful in a winning position, and fearful in a losing position.
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