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  • #750,921
  • Jan 28, 2013 1:45am Jan 28, 2013 1:45am
Quoting math_GB
Good Morning mate...! Sorry to hear that tough... Let me guess Yen trades...???
Morning mate... wish it was as exotic as that. But it was the cripple.
Was getting ready and had a few things to do so couldn't watch it. Came in at 28 then at 38.
No worries... just a pain. Will probably short this 50.
A pip is only worth it if you know how much you risked to earn it
  • #750,922
  • Jan 28, 2013 1:47am Jan 28, 2013 1:47am
Quoting BlueGas
Yeah, burned myself too many times not takin some profit around 20-30 pips
No no it is always good to take profits. I am keeping my long cause we have not made a 4H close below 1.3452 yet
  • #750,923
  • Jan 28, 2013 1:48am Jan 28, 2013 1:48am
Quoting vlady1974
Morning mate... wish it was as exotic as that. But it was the cripple.
Was getting ready and had a few things to do so couldn't watch it. Came in at 28 then at 38.
No worries... just a pain. Will probably short this 50.
Carefull, bulls sure has power, and theyll do it quick if they want to, if i would short it would be from 54, or 62, imho
  • #750,924
  • Jan 28, 2013 1:49am Jan 28, 2013 1:49am
Quoting vlady1974
Morning mate... wish it was as exotic as that. But it was the cripple.
Was getting ready and had a few things to do so couldn't watch it. Came in at 28 then at 38.
No worries... just a pain. Will probably short this 50.
Be careful with that level mate at least use a tight SL, that is what Max Doom is expecting. You don't wanna bet against him, do ya...???
  • #750,925
  • Jan 28, 2013 1:50am Jan 28, 2013 1:50am
Quoting math_GB
No no it is always good to take profits. I am keeping my long cause we have not made a 4H close below 1.3452 yet
I hear ya im kinda expecting a new high today,or atleast 62, just playing it safe
  • #750,926
  • Jan 28, 2013 1:53am Jan 28, 2013 1:53am
Hello again,

H1 analysis:

EW Theory suggesting E wave up to 1.35, I expect, if this plays out a test of 35 with abc correction to downside, back to 1.337, 50% fib retracement level connecting low point and high of 1.348-35 [no significant difference].

H4 is very similar to H1 in my opinion.

Weekly analysis, assuming 1.35 holds is bearish. this supported by second pic, it explains itself. it is based off fib retracements.

Daily analysis also holds bearish based on harmonics trading style, Head and Shoulder Pattern.

Sorry I haven't been to active, got a new job at an ERP provider, doing finance course so quite busy.

In saying that, I will reply to questions.

***These assumptions hold where 1.35 resistance does not break.

If so, bullish patterns can be drawn from the break, obviously.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU EW Theory.PNG Size: 62 KB
Click to Enlarge Name: EU Head and Shoulders @1.348.PNG Size: 54 KB
Click to Enlarge Name: Weekly H&S EU.PNG Size: 57 KB
Click to Enlarge Name: EU Daily H&S.PNG Size: 56 KB
Even the worst trade can close with profit. Just give it time.
  • #750,927
  • Jan 28, 2013 1:54am Jan 28, 2013 1:54am
Quoting Fxnewdeal
PA is suggesting a correction up (5mn).
Long 28 as well....targeting 55 and 65 as a top i'd say
Took half at 54.
  • #750,928
  • Jan 28, 2013 1:55am Jan 28, 2013 1:55am
Quoting vlady1974
Morning mate... wish it was as exotic as that. But it was the cripple.
Was getting ready and had a few things to do so couldn't watch it. Came in at 28 then at 38.
No worries... just a pain. Will probably short this 50.
TBH I've been so busy with work that I'm a bit disconnected with the whole thing... but yes, I have 50 as a watch level.
Still on the sidelines and I'll wait for the 1H close to see if I'm in today.
A pip is only worth it if you know how much you risked to earn it
  • #750,929
  • Jan 28, 2013 1:57am Jan 28, 2013 1:57am
Quoting vlady1974
TBH I've been so busy with work that I'm a bit disconnected with the whole thing... but yes, I have 50 as a watch level.
Still on the sidelines and I'll wait for the 1H close to see if I'm in today.
Forgot to mention that I was biased long on those 2 losing trades from 37... but look at that.. .we're now at 57.
A pip is only worth it if you know how much you risked to earn it
  • #750,930
  • Jan 28, 2013 1:58am Jan 28, 2013 1:58am
Quoting Fxnewdeal
Took half at 54.
Nice, good patience, better then mine
  • #750,931
  • Jan 28, 2013 1:58am Jan 28, 2013 1:58am
Quoting John Gray
Hello again,

H1 analysis:

EW Theory suggesting E wave up to 1.35, I expect, if this plays out a test of 35 with abc correction to downside, back to 1.337, 50% fib retracement level connecting low point and high of 1.348-35 [no significant difference].

H4 is very similar to H1 in my opinion.

Weekly analysis, assuming 1.35 holds is bearish. this supported by second pic, it explains itself. it is based off fib retracements.

Daily analysis also holds bearish based on harmonics trading style, Head and Shoulder Pattern.

Sorry...

yes
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-sbH1.png Size: 32 KB
  • #750,932
  • Jan 28, 2013 2:00am Jan 28, 2013 2:00am
Quoting vlady1974
Forgot to mention that I was biased long on those 2 losing trades from 37... but look at that.. .we're now at 57.
I think you made same mistake like me, searching for positions after Frankfurt and not waiting for London,..happens
  • #750,933
  • Jan 28, 2013 2:00am Jan 28, 2013 2:00am
Quoting math_GB
I will decide with the next 4H close, if at/above 1.3452 I will run the current Long as long as I can.
I am a man of my word... I don't hear any applause from anyone tough...
  • #750,934
  • Jan 28, 2013 2:03am Jan 28, 2013 2:03am
Quoting BlueGas
Nice, good patience, better then mine
I'm too stubborn to take profit before my tp so either tp or BE

And profit is profit dude!
You entry was better than mine
  • #750,935
  • Jan 28, 2013 2:03am Jan 28, 2013 2:03am
3449 needs a test
  • #750,936
  • Jan 28, 2013 2:03am Jan 28, 2013 2:03am
Quoting math_GB
I am a man of my word... I don't hear any applause from anyone tough...
What are you targeting, on the downside i have 34 currently
  • #750,937
  • Jan 28, 2013 2:03am Jan 28, 2013 2:03am
Quoting math_GB
I am a man of my word... I don't hear any applause from anyone tough...
Well done.
I have no trade open.
Should have kept the long as it would have worked out.
I do t hear the shorters no more so you were right on giving them 2 hours to disappear.
Bravo

But I don't think it's done yet till it clears 57. I'm expecting to play 57 for a while prob till ny
  • #750,938
  • Jan 28, 2013 2:03am Jan 28, 2013 2:03am
Good Morning,
this is my view on the 4-hour chart for the Euro FX currency futures contract.

Attached Image (click to enlarge)
Click to Enlarge Name: 6E_4-hour_chart_20130128.png Size: 65 KB


What we saw so far in the Euro could be it for the retracement this week. Mondays print usually the high or low of the week. We will see, Mondays are also very dodgy days, because participation is not at full throttle so we could still see lower prices.

I believe we have targets above in the 1.3600 and 1.3670-1.3720 area before a deeper retracement (but what I believe is not very important, market is the king and price will tell...)

We have an important resistance level at the 1.3510 area. I anticipate a mild retracement there but price could just slice through it like it was not even there

If the move lower is not completed yet following are the levels of support I see if we get a deeper correction today or at the beginning of the week:
- first is 1.3405-1.3418 (matching previous highs);
- second is a full retracement from Wednesday lows at the 1.3380 area;
- third is the next daily extension long at the 1.3300 area.

Of course anything can happen and I will re-evaluate the Euro should price move below the 1.3250 level. I do not anticipate that happening though.

Have a great trading day and trade safe, after all is Monday.

Let me have your comments. Thanks

Cheers
"markets traded by programs/HFT offer a significant trading edge..."
  • #750,939
  • Jan 28, 2013 2:05am Jan 28, 2013 2:05am
Quoting BlueGas
What are you targeting, on the downside i have 34 currently
As mentioned as long as I can, any high above last friday's high would make me happy. I will however take some 1.3464, possibly re-enter in case of a retracement etc.
  • #750,940
  • Jan 28, 2013 2:06am Jan 28, 2013 2:06am
Quoting math_GB
I am a man of my word... I don't hear any applause from anyone tough...
next 4hr is 2 hours time for me

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