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  • #16,401
  • Jan 23, 2013 4:58am Jan 23, 2013 4:58am
Quoting jaylovin
today may very well be the day we see this break out... i am favouring bull currently... so only looking for longs... lets see
If u ask me, yes I also favor bulls, it should be risk appetite according to fundies and yen behaviour.
  • #16,402
  • Jan 23, 2013 6:00am Jan 23, 2013 6:00am
SO far app. 3 dips to 3324 have been bought. All good for LONG scalps. In case 3324 gets broken u can do a breakout scalp trade to the downside.
  • #16,403
  • Jan 23, 2013 6:07am Jan 23, 2013 6:07am
Quoting T@rantula
SO far app. 3 dips to 3324 have been bought. All good for LONG scalps. In case 3324 gets broken u can do a breakout scalp trade to the downside.
Here it comes. Fast fingers and its a scalp breakout trade just to the pivot. 8 pips in 10 seconds...it feels good when u have days like these..

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  • #16,404
  • Jan 23, 2013 6:23am Jan 23, 2013 6:23am
That is the playing field so far:
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  • #16,405
  • Jan 23, 2013 6:28am Jan 23, 2013 6:28am
Quoting infinitus
That is the playing field so far:
Yes and I advise scalping on smaller TFs in case u havent positioned urself around 3280-50
  • #16,406
  • Jan 23, 2013 8:09am Jan 23, 2013 8:09am
EU H4 DESCENDING FLAT BOTTOM TRIANGLE

IF 3255 is broken 3195>3155>3125 are targets. Seems like we are slowly shifting to bearish outlook. This is the 3rd touch of an upper line, making the descending flat bottom triangle.

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  • #16,407
  • Jan 23, 2013 8:13am Jan 23, 2013 8:13am
Quoting T@rantula
Yes and I advise scalping on smaller TFs in case u havent positioned urself around 3280-50
And positioning definitely doesnt work if u go for full ATR target or projection, thats why my preferred trading strategies are scalping, and breakout trades. Many traders have been buying at 3280-50 range and that is what I also suggested, but did they cash in the profits?

If they went for some 30-50 pips its ok but real positioning for 3405+ just doesnt seem to work.
  • #16,408
  • Jan 23, 2013 8:49am Jan 23, 2013 8:49am
I have circled lower down target if 3255 gets taken out... BUT i don't believe this will happen.. .even though in the yellow box we punched a new low... The 4hr candle is still above its rising TL... This is a good ploy to turn people bearish... 1.3325 is Resistance for now... but as i'm writing this price is already jumping back towards it currently at 1.3306...

UP first still... IMO
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  • #16,409
  • Jan 23, 2013 10:02am Jan 23, 2013 10:02am
Quoting jaylovin
I have circled lower down target if 3255 gets taken out... BUT i don't believe this will happen.. .even though in the yellow box we punched a new low... The 4hr candle is still above its rising TL... This is a good ploy to turn people bearish... 1.3325 is Resistance for now... but as i'm writing this price is already jumping back towards it currently at 1.3306...

UP first still... IMO

on the other hand... lets see if 1.3312 holds... waiting for now...
  • #16,410
  • Jan 23, 2013 11:22am Jan 23, 2013 11:22am
Quoting jaylovin
on the other hand... lets see if 1.3312 holds... waiting for now...
There should be a breakout soon, I hope we wont be trapped in this damn range next week.
  • #16,411
  • Jan 24, 2013 12:22am Jan 24, 2013 12:22am
We have PMI data release in 10 mins. Lets see if it is enough to break the range.

It has been buy 3280-55 and sell 3340-70 all week long and the range has been playing out for 2 weeks. I expect the range to finish till Friday if not on Friday itself.
  • #16,412
  • Jan 24, 2013 12:26am Jan 24, 2013 12:26am
Quoting T@rantula
EU H4 DESCENDING FLAT BOTTOM TRIANGLE

IF 3255 is broken 3195>3155>3125 are targets. Seems like we are slowly shifting to bearish outlook. This is the 3rd touch of an upper line, making the descending flat bottom triangle.

Attachment
Compare this chart to chart above. We have the 4th touch.

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  • #16,413
  • Jan 24, 2013 1:21am Jan 24, 2013 1:21am
EU 4h...Look at the news reaction...5th touch.

1min retracement entries on news trade.

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  • #16,414
  • Edited 1:55am Jan 24, 2013 1:39am | Edited 1:55am
You see what has been happening..

Fundies are giving very strong support to EU, Yen needs to weaken by buying EUR, risk appetite is all over the board, Europe data is excellent but the price is still struggling to give a real push above that triangle I showed you.

Technically, the triangle has been respected and EURUSD might see another push lower because we dont have that breakout/retest.

LTROrepayments are soon to be announced so we should have some clearer signs of a possible jump.

http://www.efxnews.com/story/16941/w...-deutsche-bank

This is the article. Telling you again, watch out for that 3255 break if that happens. To the upside as we already know if 3404 breaks a possible 100 pip move is on table. That should be boosted by LTRO, if any.

3404-3435-3486-3505

To the downside 3255-3220-3195-3155

You can also read this on my Blog.
  • #16,415
  • Jan 24, 2013 4:37am Jan 24, 2013 4:37am
is crazy stupid PA... even hit and run is difficult in these conditions as SR levels aren't really being respected to get a good RR...

agree with break above - we could get a fake out up to 3385 then drop... but by judging from the recent rally up from 1.3036 - the bulls are favoured in this instance... a break below 3247 will dent the bullish look in the short term... overall trend up for now... even below 3430 will should give some short scalp - my indi's are currently overbought and has bearish divergence... i am therefore out and waiting for a sign
  • #16,416
  • Jan 24, 2013 4:42am Jan 24, 2013 4:42am
4 Hour EU Chart...

So our range is becoming even smaller, compressing down towards a point. Hopefully a break is coming very soon, I know my fingers are crossed and I am patiently waiting because once it gives we should see a decent move away from the range.

Been busy playing some 5 min and 15 min scalps between the S & R levels but a nice trending day would be perfect right about now.
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Today's zone = Tomorrow's opportunity!
  • #16,417
  • Jan 24, 2013 6:21am Jan 24, 2013 6:21am
Potential new longs could be found between 3325-35 range as a retracement but before H4 close. Close of H4 candle below 3340 IS NOT favoured for bulls.
  • #16,418
  • Jan 24, 2013 6:25am Jan 24, 2013 6:25am
Quoting T@rantula
Potential new longs could be found between 3325-35 range as a retracement but before H4 close. Close of H4 candle below 3340 IS NOT favoured for bulls.
When is your 4hr close? Mine happened at 2pm gmt
  • #16,419
  • Jan 24, 2013 6:29am Jan 24, 2013 6:29am
Attached Image (click to enlarge)
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  • #16,420
  • Jan 24, 2013 6:36am Jan 24, 2013 6:36am
London/NY session levels are:

3320-24 are stops for both longs and short trades > 3343 > 3358 > 3367 > 3381 > 3395 > 3404 to the upside

To the downside 3306 > 3297 > 3282 > 3268 > 3255

Notice the reaction around those levels
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