Euro/Dollar

I just closed half my EURUSD longs at 3290, accepting a 5 pip loss on half the position.... We may pull back to the 50% fib if this push higher fails again... Better to take some risk off in the NY opening volatility...

Pulling the stop on the remaining 1/2 sized position under the 50% fib 3221... Hopefully wont need to... but thorough rejection of 3320 on the best looking bounce out of the support zone is troubling...

cutting the position size will allow me to add a little room underneath the support zone as a cushion without over-trading the account.

Stop back to under the support zone bottom at 3235... if it gets hit I'll let it go.... better to look for another entry... this one has had three chances above 3300 now after bouncing from support...

I'm not a believer yet... Is that a dead cat I smell? Hope not...

Hi
Long time no see... I am totally off forex due to day job obligations and fun on the slopes. Thinking it will do more good then harm, anyway...
I simply no NOTHING at this point about fundamentals, I will let tech overtake for this time,
I still think this isn't over and we are not ready for sell of the euro - not at these levels, thinking about 1,3500/1,3800/1,4000 in near term.
We broke important bearish trendline after consolidation, we basically end sell off which started in may 2011 - same sell off which made most traders in ff bearish on euro in the long term.
At the same time weekly showing some divergences so watch for those candles round pivots and hit the button when the sentiment has changed.
A bit late but happy new year to all.
Catch you later
Tom
PS these are not real positions open ok...take it easy

http://s9.postimage.org/co09m9ji7/euro_weekly.gif
photo sharing

Well Well Well... Look who shows up

Hope you're stashing away a huge bankroll, in between runs...

Hey C
Yep this is my intention, building a solid mechanical system which is backed by substantial funds - this is the only way to go imo. I wish to be more active, but I simply cannot, good to see you are filling these pages with solid analysis.

forgot to add 3250 is a solid support and great buying opportunity, in terms of intraday and for another swing up,
Being biased is a bad habit, and could lead to ignorant choices, but going with the current trend makes much more sense to me then looking for a potential top.

I hope you guys seen this and read it, a very solid work, if not spend 30/40 minutes this is must read

http://www.zerohedge.com/news/2012-1...-urban-legends

I'm bullish till my stop gets hit at 3235... it does take patience though...

Stop moved to 3284

First leg underway.... I have hopes for 3450 to 3490.... with some setbacks on the way of course...

Big picture from a 4 hour chart... we are forming wave (v) aqua....

Stop raised to lock some profit 3312....

We would be nice to bust through these offers ahead of 3370 before EURJPY (trades 119.47) runs into a band of strong offers at 119.80/120.00... We have a nice tailwind going in EURUSD helping us higher from EURJPY...

Some indications a setback may be due... probably to the shaded box before resumption higher...

Divergence on RSI indicative of a wave 5.... of some small degree... not sure which, but it is just the end of one interior wave of a much larger move I am actually trading targeting 1.3450 to 3490....

Don't get scarred out...

As long as price stays within the Elliott Channel, all is well...

Elliott Channel....

Citi misses earnings...

Don't want to see anything that could turn the day into a risk off day on Wall Street

Just a minor pull back along the way higher.... expected and healthy for the overall trend higher...

Into the anticipated support zone... needs to hold... below 1.3221 becomes troubling... I'm out below 1.3115