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  • #16,441
  • Jan 27, 2013 6:32pm Jan 27, 2013 6:32pm
Here is the analysis for upcoming days.

We are currently sitting close to a strong resistance at 3486-3500. For me its hard to enter long now. Looking at h4 timeframe its screaming for a retracement. So id rather go with retracement and short it close to resistance. Possible targets are 3407 or if its a deeper retracement 3350-3320. Remember that we are bullish so 3300 is major level.

Even if the price retraces to 3350-20 its still bullish and I would gladly place a long there. So I am gonna wait for a sign to enter short and then long it close to levels mentioned above if it goes by the plan. Remember : REACTION!

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You can also read this on my Forex Blog.
  • #16,442
  • Jan 27, 2013 11:08pm Jan 27, 2013 11:08pm
Quoting T@rantula
Here is the analysis for upcoming days.

Possible targets are 3407 or if its a deeper retracement ......... So I am gonna wait for a sign to enter short and then long it close to levels mentioned above if it goes by the plan. Remember : REACTION!
From my side.........
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  • #16,443
  • Jan 28, 2013 4:05am Jan 28, 2013 4:05am
The price is slowly grinding to the downside, next is 3431.
  • #16,444
  • Jan 28, 2013 4:13am Jan 28, 2013 4:13am
Mini levels below 3431 are 3418 3408 and 3402 which is weekly pivot point.
  • #16,445
  • Jan 28, 2013 4:31am Jan 28, 2013 4:31am
Its still a slow action and it shouldnt surprise us as today is Monday.
  • #16,446
  • Jan 28, 2013 4:34am Jan 28, 2013 4:34am
Quoting T@rantula
Its still a slow action and it shouldnt surprise us as today is Monday.

ya i expected as much... resistances still at 3494, 3546.. i got 3605 above that too... on a naked chart there is no REAL resistance until 1.38 then 1.41... in a couple of days EUROZONE have to pay back a lump sum debt... if no happen then OMG....

also on the USDx chart, its all looking bullish and we are near support. HERE IS CHART:
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  • #16,447
  • Jan 28, 2013 4:39am Jan 28, 2013 4:39am
Quoting jaylovin
ya i expected as much... resistances still at 3494, 3546.. i got 3605 above that too... on a naked chart there is no REAL resistance until 1.38 then 1.41... in a couple of days EUROZONE have to pay back a lump sum debt... if no happen then OMG....

also on the USDx chart, its all looking bullish and we are near support. will post a chart shortly
I agree and still, 4h retracement is really needed. Thats why I posted early in Asia, that I wont go long, that is time to short.
  • #16,448
  • Jan 28, 2013 6:00am Jan 28, 2013 6:00am
EU at 3467 presently, range play 3425-3480 possible. If it jumps over ill be shorting around 3487-00
  • #16,449
  • Jan 28, 2013 7:17am Jan 28, 2013 7:17am
Excellent move by market. 3470 was again excellent for short. Id like to see 3402 today. Scaled out at 3432.
  • #16,450
  • Jan 28, 2013 7:42am Jan 28, 2013 7:42am
Possible shooting star on h4 tf.

3478 is 7 pips away from 3485 which was the final target for my 3405 breakout trade analysis. If that holds we should see at least 3402. Deeper retracement can even pull EU to 3350, but for the bulls even though they would still be in advance, that could also open a way to bearish scenarios.
  • #16,451
  • Jan 29, 2013 12:09am Jan 29, 2013 12:09am
For me same scenario as yesterday. Been short all night long also had a pending overnight short which hit TP @ 3432. 3460 is interim resistance 3476 is intraday resistance. Targets are same 3402>3395 to the downside at first attempt 2nd deep targets should be 3350, but im not sure it will happen as we failed to achieve 3402 yesterday. Still it remains as a potential DEEP RETRACEMENT target. So my pick is to short into rallies as yesterday while below 3485.

Those who have running shorts should put stops at BE or scale out.

You can also read this on my Forex Blog.
  • #16,452
  • Jan 29, 2013 12:28am Jan 29, 2013 12:28am
This is flat top ascending triangle which is a bearish pattern. The price usually drops almost the same distance of the ascending side of the triangle.
This also can be viewed as a correction in bullish market and still coincides perfectly with our targets.

Failure to retrace properly would be a sign of impulse market and very possible upward continuation to 37xx levels ( I will calculate that once 3500 is broken and daily close gets above it.

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  • #16,453
  • Jan 29, 2013 1:16am Jan 29, 2013 1:16am
Quoting T@rantula
This is flat top ascending triangle which is a bearish pattern. The price usually drops almost the same distance of the ascending side of the triangle.
This also can be viewed as a correction in bullish market and still coincides perfectly with our targets.

Failure to retrace properly would be a sign of impulse market and very possible upward continuation to 37xx levels ( I will calculate that once 3500 is broken and daily close gets above it.

Attachment
well written tarantula, and its quite in line with my divergence analysis.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #16,454
  • Jan 29, 2013 1:22am Jan 29, 2013 1:22am
Quoting fxtyrant
well written tarantula, and its quite in line with my divergence analysis.
Thanx Brian,

Well I ve been shorting every single rally since yesterday lol. Glad u made it too!
  • #16,455
  • Jan 29, 2013 1:54am Jan 29, 2013 1:54am
Attached Image (click to enlarge)
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  • #16,456
  • Jan 29, 2013 1:58am Jan 29, 2013 1:58am
Levels for today


Gameplan:


buy against 3428; sell against 3489 to 3504, in extension 3550


if 3489 to 3505 is reached before 3428 is hit, forget to buy 3428
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  • #16,457
  • Jan 29, 2013 2:10am Jan 29, 2013 2:10am
Quoting infinitus
Levels for today


Gameplan:


buy against 3428; sell against 3489 to 3504, in extension 3550


if 3489 to 3505 is reached before 3428 is hit, forget to buy 3428

Also, so far 3460 has been excellent resistance level. Only above 3465 3476 will be reached so 3460 is interim resistance slowly turning into intraday resistance ( need NY session to confirm that)

3430 was indeed good for buy scalps but if 3424 fails we are gonna hit 3405>3395.
  • #16,458
  • Jan 29, 2013 2:36am Jan 29, 2013 2:36am
And 3460 yet again Rejected for 20 pips.
  • #16,459
  • Jan 29, 2013 3:01am Jan 29, 2013 3:01am
3418 hit. Lets go 3402.
  • #16,460
  • Jan 29, 2013 6:59am Jan 29, 2013 6:59am
3414 was the low 9 pips above Target price. 3485 broke I guess 3500 will break too. Strong barriers up there at 3490-95 still it might go up.

If 3414 is the retracement we have been looking for thats all for it and 3530 should be reached.
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