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  • #32,501
  • Jan 29, 2013 2:47am Jan 29, 2013 2:47am
will tell you what will happen
we are going to have triple top
then it will rolldown 3400ish

then move up again
watch
  • #32,502
  • Jan 29, 2013 2:47am Jan 29, 2013 2:47am

Quoting FxLapozi
I didnt know you can edit to see the whole week. Nice. Thanks.
  • #32,503
  • Jan 29, 2013 2:49am Jan 29, 2013 2:49am
this is the main problem.
when its range it uses generally horizantal levels combined with diagonals.
but when which no sign
thats called MESS

Quoting mok1one
Channels on my charts are just a illustration, when rangeing.At least with like rangeing yesterday.
I noticed they don't respect non of those channels. Then i Drew new ones on another chart to see if they work better.You know what - they didn't.
Only channel that holded the price back was 30 min lower channel. this has worked today also. but all others-no.
  • #32,504
  • Jan 29, 2013 2:50am Jan 29, 2013 2:50am
Quoting fibstalker
Good Morning traders,
I think the Euro is a 'safe' add at this levels with stops below 1.3408.
Chart will follow...
Here is my chart for the day for the Euro FX currency futures contract:

http://www.forexfactory.com/attachme...1&d=1359448626

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..."
  • #32,505
  • Jan 29, 2013 2:51am Jan 29, 2013 2:51am
58 seems to be a problem for the price. As i see from the chart it was a problem also yesterday.
Breaking that we might see a top re-test.
  • #32,506
  • Jan 29, 2013 2:52am Jan 29, 2013 2:52am
Quoting mok1one
Totally agree
Just scalp For now as I think it will try to retest the previous high and I think 90% fail. Possible retracement to 3390.
  • #32,507
  • Jan 29, 2013 2:53am Jan 29, 2013 2:53am
3458 1H DER TL
this time horizantal. ( math result )
coming from yesterday

Quoting mok1one
58 seems to be a problem for the price. As i see from the chart it was a problem also yesterday.
Breaking that we might see a top re-test.
  • #32,508
  • Jan 29, 2013 2:55am Jan 29, 2013 2:55am
there is a strange problem here.
4H Big CZ created very small up move last week it even can not touch 3485

there is something wrong here
  • #32,509
  • Jan 29, 2013 2:57am Jan 29, 2013 2:57am
agreed with level
3404 I say

or we can basicly say 3400

Quoting fibstalker
Here is my chart for the day for the Euro FX currency futures contract:

http://www.forexfactory.com/attachme...1&d=1359448626

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...
  • #32,510
  • Jan 29, 2013 2:58am Jan 29, 2013 2:58am
this is a premature UP move
it may die
I mean the move from last week

Quoting stevewalker
there is a strange problem here.
4H Big CZ created very small up move last week it even can not touch 3485

there is something wrong here
  • #32,511
  • Jan 29, 2013 3:00am Jan 29, 2013 3:00am
Quoting stevewalker
agreed with level
3404 I say

or we can basicly say 3400
Yep Steve,agree
indeed that's previous highs area,
but often only just a pip can be enough to have program trading sell on the smaller timeframes.

Hope we will not need to think about it

"markets traded by programs/HFT offer a significant trading edge..."
  • #32,512
  • Jan 29, 2013 3:14am Jan 29, 2013 3:14am
30 min bull div tells me it is only half way and need to touch 75-80, but seems they disagree with that div.
  • #32,513
  • Jan 29, 2013 3:22am Jan 29, 2013 3:22am
Quoting mok1one
30 min bull div tells me it is only half way and need to touch 75-80, but seems they disagree with that div.
They had been disagreeing with the div since the start of the week...
  • #32,514
  • Jan 29, 2013 3:25am Jan 29, 2013 3:25am
will these channels work today?

30min chart
Attached Image (click to enlarge)
Click to Enlarge Name: 30.jpg Size: 182 KB
  • #32,515
  • Jan 29, 2013 3:26am Jan 29, 2013 3:26am
Quoting FxLapozi
They had been disagreeing with the div since the start of the week...
I agree. If i remember correctly i saw only 1 15min div playing out. others ignored and canceled.

But is this a sign of tech-free trading?
  • #32,516
  • Jan 29, 2013 3:35am Jan 29, 2013 3:35am
Quoting mok1one
I agree. If i remember correctly i saw only 1 15min div playing out. others ignored and canceled.

But is this a sign of tech-free trading?
Hahaha, wait until you see NY session mess it up further. Rough month it has been, only hoping that Feb will be a better month.
  • #32,517
  • Jan 29, 2013 3:40am Jan 29, 2013 3:40am
Quoting FxLapozi
Hahaha, wait until you see NY session mess it up further. Rough month it has been, only hoping that Feb will be a better month.
I'll take a small break here. Getting a bit emotional due to what i see again on the charts. Yesterday deja-vu.
See you all in an hour or so.
  • #32,518
  • Jan 29, 2013 3:56am Jan 29, 2013 3:56am
GM All,
May be a Regular Flat Correction on 4H Chart:
5 waves in C [1H chart].
Cuts out all the chop on the smaller tfs.
~3425 zone would need to hold.
Cheers,
U2
Attached Image (click to enlarge)
Click to Enlarge Name: Regular Flat.jpg Size: 163 KB
Wait, or you will be slaughtered!
  • #32,519
  • Jan 29, 2013 4:05am Jan 29, 2013 4:05am
Quoting Uturn2
GM All,
May be a Regular Flat Correction on 4H Chart:
5 waves in C [1H chart].
Cuts out all the chop on the smaller tfs.
~3425 zone would need to hold.
Cheers,
U2
Flat here = Long?
Attached Image (click to enlarge)
Click to Enlarge Name: 130129_30m[1] EURUSD.png Size: 12 KB
Wait, or you will be slaughtered!
  • #32,520
  • Jan 29, 2013 4:16am Jan 29, 2013 4:16am
Quoting Uturn2
Flat here = Long?
2 large tf div ignores and 3 small tf div ignores and canceles seen today already.
They are doing their best to keep it out of techs and do the opposite. So if you say long mayby it's time to short then.
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