I will take a short position 1.3460-1.3480 area 3-4 weeks later if it comes up there.
We can see a big rocket to the 1.3480 after Spainish Bailout...
GL
We can see a big rocket to the 1.3480 after Spainish Bailout...
GL
- #742,422
- Jan 7, 2013 2:22pm Jan 7, 2013 2:22pm
- Joined Dec 2012 | Status: Lions don't bleat! | 2,874 Posts
Wait, or you will be slaughtered!
- #742,423
- Jan 7, 2013 2:24pm Jan 7, 2013 2:24pm
- Joined Mar 2010 | Status: Trader | 42,434 Posts
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #742,426
- Jan 7, 2013 2:33pm Jan 7, 2013 2:33pm
- Joined Mar 2010 | Status: Trader | 42,434 Posts
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #742,427
- Jan 7, 2013 2:45pm Jan 7, 2013 2:45pm
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- #742,428
- Jan 7, 2013 2:48pm Jan 7, 2013 2:48pm
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2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #742,431
- Jan 7, 2013 2:56pm Jan 7, 2013 2:56pm
- | Membership Revoked | Joined Aug 2012 | 8,502 Posts
i have absouletely same strategy. Because i can clearly see Euro in the fifth wave targetting 1.3480 on H4 chart.
A rocket will fire it to the 1.3480 after Spainish Bailout.
GL
- #742,433
- Edited 3:15pm Jan 7, 2013 2:57pm | Edited 3:15pm
- Joined Jun 2012 | Status: ケンジ | 21,416 Posts
I agree with abnormal.
Also, (with all due respect to those who have posted on this - as I am a juniour member) what is the obsession with finding the shorts here??! It may move higher (to 1.3133) and then retrace somewhat slightly to say 1.3112 (as I posted earlier) and then remain in a range-bound manner for some while.
It all depends what your definition of a pullback/retracement is. -10pts is just a scalp - a vibration
Agree on technical. Daily close above 1.3111 (38.2 fib retracement) could be bullish but this pair is very sensitive to news and 1.3121 is another hurdle.
E/U Daily
- #742,434
- Jan 7, 2013 2:58pm Jan 7, 2013 2:58pm
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- #742,436
- Jan 7, 2013 3:05pm Jan 7, 2013 3:05pm
- | Commercial User | Joined Mar 2012 | 1,978 Posts
Why the rush dude...??? There might be better/much better entry levels tomorrow. We have unemployment numbers ahead of us early London session...
Not a huge rush, just dont want to miss any possible upside here, like my post said it is a small size even for my small account, no worries there. I am hoping for a pullback to add more tomorrow. I do not trade based on any type of news, spain bailout, ecb rates etc.. I look at my chart and go from there. Always like to make a trade on the start of a new weekly bar
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Nobody knows when/if a Spanish bailout will happen mate, better do not rely on such a major event
GL
Why ? Spain decided to calender its Bailout ! We have been waiting for Rajoy from November and he hasn't deliver yet ... what makes you think he up to for it ? I HOPE ITS NOT A FEELING
Euro needs a big event to breakout 1.3480.
Edit: Please don't believe what Rajoy talking about. Because he is a PM and only a politician. Politician says something today and does it oppositely tomorrow
GL
- #742,439
- Jan 7, 2013 3:16pm Jan 7, 2013 3:16pm
For me the next couple of days will tell the story of what this thing is going to be allowed to do.
1). EU reversed from 3290 after ranging for a couple of "end of year flows" days. The move down was news based.
2). The thing got smacked down to the 3000 where it's bouncing hard back up into the resistance congestion around 3120-3140.
3). Said congestion is exactly a 50% retrace from the burn down from last week.
4). The news (Fed minutes) have not really been priced into the pair. The reaction is, but the fundi's are not yet in play.
5). ECB blah blah on Thursday.
My take: Bull trap
The inverted H&S must not play out, but a new H&S is forming with the topping pattern (range) as head. We could now be starting to form the new right shoulder.
We've broke that long trendline in the 4H and have retraced till here, where the weekly pivot & R1 are also coming into play.
You almost have to expect some dovish chatter from the ECB on Thursday, and if Mario even hints at anything hawkish, will that be taken as EUR positive? I doubt it.
I'm going to be watching pa like a hawk for the next days.
1). EU reversed from 3290 after ranging for a couple of "end of year flows" days. The move down was news based.
2). The thing got smacked down to the 3000 where it's bouncing hard back up into the resistance congestion around 3120-3140.
3). Said congestion is exactly a 50% retrace from the burn down from last week.
4). The news (Fed minutes) have not really been priced into the pair. The reaction is, but the fundi's are not yet in play.
5). ECB blah blah on Thursday.
My take: Bull trap
The inverted H&S must not play out, but a new H&S is forming with the topping pattern (range) as head. We could now be starting to form the new right shoulder.
We've broke that long trendline in the 4H and have retraced till here, where the weekly pivot & R1 are also coming into play.
You almost have to expect some dovish chatter from the ECB on Thursday, and if Mario even hints at anything hawkish, will that be taken as EUR positive? I doubt it.
I'm going to be watching pa like a hawk for the next days.
- #742,440
- Jan 7, 2013 3:18pm Jan 7, 2013 3:18pm
- | Membership Revoked | Joined Aug 2012 | 8,502 Posts
Yes, you are right mate. But i think Spain very close to asking for bailout. I also know what will happen to the E/U after Spainish Baliout.
GL
There are so many hurdles, things are a little more complicated now. I wished it were as plain as it used to be. I know why you are paying 1.3480 this much attention tough. However, Spain is not the only hurdle, do not forget Italy - which I think can not be bailed out. Even if Spain decides to move forward, conditions will be discussed for months. Greece bailout - not even comparable to Spain's massive problems - has pissed off so many for a long time.My view is we will see a similar pattern like last year and top before May but again conditions changed significantly. Do not ignore the very major issues, since your trade style deals with higher time frames as I understand.