Sell limit @ 34623, 2o pip stop, 30+ TP1
- #751,261
- Jan 29, 2013 2:44am Jan 29, 2013 2:44am
- | Membership Revoked | Joined Aug 2012 | 8,502 Posts
- #751,262
- Jan 29, 2013 2:44am Jan 29, 2013 2:44am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
Good Morning traders,
I think the Euro is a 'safe' add at this levels with stops below 1.3408.
Chart will follow...
Yesterday we had price holding the 1.3430 area which corresponds to an extension long setup with failure below 1.3408. In the morning, after the London open (actually at the German desks open) that very area was supported and funds/program trading came in to buy.
At the moment I see the following two scenarios going forward:
Scenario 1. If price keeps above 1.3408 we could see a continuation higher into 1.3510 and possibly the 1.3600 area
Scenario 2. Should price move below the 1.3408 level we could see a slide into 1.3380s or even the 1.3300 area, next daily extension long. There price could resume its move higher (broken line in the above picture).
Notice that we have unfinished business at 1.3600. This is the second target of the bull flag we saw forming in the last 2 weeks on top of the 1.3260 support level. Also the 1.3510 area is 1st target of the smallest extension offering support at 1.3425-30 area (which traded in the morning) and lines up with sensible resistance. We could see mild profit taking there, or we could not.
Let me know your thoughts. Thanks.
Have a great trading day.
Cheers
"markets traded by programs/HFT offer a significant trading edge..."
- #751,264
- Jan 29, 2013 2:46am Jan 29, 2013 2:46am
- Joined Mar 2010 | Status: Trader | 42,434 Posts
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #751,265
- Jan 29, 2013 2:46am Jan 29, 2013 2:46am
- Joined Nov 2008 | Status: Trader | 2,177 Posts
It can be a good plan.
now watching if my bears arent just wet dream
- #751,267
- Jan 29, 2013 2:48am Jan 29, 2013 2:48am
- Joined Mar 2010 | Status: Trader | 42,434 Posts
took at 1.3436
0801GMT
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #751,269
- Jan 29, 2013 2:56am Jan 29, 2013 2:56am
- Joined Mar 2010 | Status: Trader | 42,434 Posts
cover with +21pp
Naahh ...
Will go further testing to the upside ...
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #751,273
- Jan 29, 2013 3:03am Jan 29, 2013 3:03am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
long for this 2 pairs
"markets traded by programs/HFT offer a significant trading edge..."
- #751,274
- Jan 29, 2013 3:05am Jan 29, 2013 3:05am
- Joined Mar 2010 | Status: Trader | 42,434 Posts
I entered 2 trades
Well done ...
Nobody dies from taking a little profit ...
###
But I expect some further pop corn in the machine ...
...Re-do arrays activated therefore ...
;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #751,276
- Jan 29, 2013 3:12am Jan 29, 2013 3:12am
Anyway ...
Well done ...
Nobody dies from taking a little profit ...
###
But I expect some further pop corn in the machine ...
;-|
I m still on the trade for the upside
watching price action around 1.3452( my pp for the day)
Maximizing your potentials!
- #751,280
- Jan 29, 2013 3:19am Jan 29, 2013 3:19am
- Joined Aug 2009 | Status: Trader | 12,448 Posts
geppy tapping support slow but steady very slow day 
need some hopium injection
need some hopium injection
If you are new to Forex? Say Goodbye to your account!!