Those who say it cannot be done should not interrupt those who are doing it
- #65,421
- Jan 29, 2013 10:54am Jan 29, 2013 10:54am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
- #65,422
- Jan 29, 2013 10:58am Jan 29, 2013 10:58am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
At last - my Sell Limit at 1.3495 has been hit ( ~ MR 2) and the last three closed 15 min candles were high volume, spinning tops - so I hope that indecision ( profit taking) will lead to a retrace to at least the MR 1 at 3465....TWT
and it did - to the 38% retrace of today's range and a few pips above that PVP level off the 5 day Market Profile PVPP level.....so pips safely banked and time for a SunDowner
Trading Levels with WRBs
- #65,423
- Jan 29, 2013 11:11am Jan 29, 2013 11:11am
and it did - to the 38% retrace of today's range and a few pips above that PVP level off the 5 day Market Profile PVPP level.....so pips safely banked and time for a SunDowner
Made a few pips today! can tighten up my entries a little but a profit is a profit; and not just it pips, but knowledge!! It's amazing how well the EUR/USD reacted to S/L between 3495-3473; on the M1 it followed trends lines, fib retrace, and performed a perfect little breakout! Happy hunting everyone!
Do what you are afraid to do -Emerson
- #65,425
- Jan 29, 2013 11:28am Jan 29, 2013 11:28am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
With my luck, 1.3487
Let's see what February brings - not long now
Trading Levels with WRBs
- #65,426
- Jan 29, 2013 11:31am Jan 29, 2013 11:31am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
Thanks for your analysis FibStalker
Nice one
The short setup in DX is suggesting that tomorrow will be fireworks at FOMC and I anticipate a continuation higher of the Euro to complete its pattern.
Let's wait and see.
Have a great eve
"markets traded by programs/HFT offer a significant trading edge..."
- #65,427
- Jan 29, 2013 11:50am Jan 29, 2013 11:50am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
This is my view on USD/CAD after recent USDX weakness and short setup confirmation:
When price failed the 1.0050 level, the "M-for-Murder" pattern was possible and already in the making. The 'M-for-Murder' pattern started a push lower into the 1.0030 area, the next level of daily support. The failure of longs started within the area of a weekly short setup.
I now see 2 possible scenarios going forward:
Scenario 1. The 1.0030 area is the next extension long on the daily chart. If it holds we should have some sort of retest of highs (see scenario 2 below). If the 1.0030 area breaks we have a continuation lower and a confirmation of a weekly short setup. Notice that this is not going to be straight down, we will have some sort of tradable setup short after this. Let's be patient.
Scenario 2. If the 1.0030 holds then it means bulls are participating to the next move higher into recent highs and even new highs. I do not anticipate this scenario due to the short setup in the Dollar Index (but anything can happen).
Hope that helps.
Have a great eve.
When price failed the 1.0050 level, the "M-for-Murder" pattern was possible and already in the making. The 'M-for-Murder' pattern started a push lower into the 1.0030 area, the next level of daily support. The failure of longs started within the area of a weekly short setup.
I now see 2 possible scenarios going forward:
Scenario 1. The 1.0030 area is the next extension long on the daily chart. If it holds we should have some sort of retest of highs (see scenario 2 below). If the 1.0030 area breaks we have a continuation lower and a confirmation of a weekly short setup. Notice that this is not going to be straight down, we will have some sort of tradable setup short after this. Let's be patient.
Scenario 2. If the 1.0030 holds then it means bulls are participating to the next move higher into recent highs and even new highs. I do not anticipate this scenario due to the short setup in the Dollar Index (but anything can happen).
Hope that helps.
Have a great eve.
"markets traded by programs/HFT offer a significant trading edge..."
- #65,428
- Jan 29, 2013 11:51am Jan 29, 2013 11:51am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
"markets traded by programs/HFT offer a significant trading edge..."
- #65,429
- Jan 29, 2013 11:59am Jan 29, 2013 11:59am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #65,430
- Jan 29, 2013 11:59am Jan 29, 2013 11:59am
Apologize, wrong thread.
Great posts!
- #65,431
- Jan 29, 2013 12:10pm Jan 29, 2013 12:10pm
- | Commercial User | Joined Jan 2013 | 1,169 Posts
Don't worry about it. I appreciate the post coz I just went long U/CAD. I'm looking for 1.0130 area. A nice 100 pips if I can get it.
Ah, I like it...keep up the good accidental posts. I think most of us are playing in other pairs and the EU more or less plays a role in most other pairs. So no apology needed mate.
Great posts!
"markets traded by programs/HFT offer a significant trading edge..."
- #65,432
- Jan 29, 2013 12:18pm Jan 29, 2013 12:18pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Okay then. Seen that the Boss says it's okay and other participants seems to be satisfied I will 'accidentally' post on other USD-related pairs from time to time. Accidentally this could be once a day.... if that is okay...
Those who say it cannot be done should not interrupt those who are doing it
- #65,433
- Jan 29, 2013 12:19pm Jan 29, 2013 12:19pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #65,434
- Jan 29, 2013 12:29pm Jan 29, 2013 12:29pm
- | Commercial User | Joined Nov 2012 | 3,178 Posts
Euro Zombie Killer 
Trade smaller than rational because the market is irrational...
- #65,435
- Jan 29, 2013 2:06pm Jan 29, 2013 2:06pm
- | Commercial User | Joined Nov 2012 | 3,178 Posts
Trade smaller than rational because the market is irrational...
- #65,436
- Jan 29, 2013 3:34pm Jan 29, 2013 3:34pm
- | Commercial User | Joined Jan 2013 | 1,169 Posts
Hello all,
this is my up-to-date view on the GBP/USD:
Bulls defending the 1.5665 level could mean a possibility for the move higher to resume. Participation was not strong but enough to defend the weekly support area. I see two scenario unfolding:
Scenario 1. If the 1.5830 level will oppose resistance the sequence of measured moves lower will continue and potentially bring price into the 1.5600 area (1st target) and then 1.5480 (2nd target).
Scenario 2. Should price move above the 1.5870 level, the weekly support will be confirmed and price could continue higher after a retracement.
The retracement could bring price down tot 1.5790-1.5800 (this level could be different and it will be defined later on as price develops) area before a continuation higher.
Hope this helps
Have a great eve.
Cheers
this is my up-to-date view on the GBP/USD:
Bulls defending the 1.5665 level could mean a possibility for the move higher to resume. Participation was not strong but enough to defend the weekly support area. I see two scenario unfolding:
Scenario 1. If the 1.5830 level will oppose resistance the sequence of measured moves lower will continue and potentially bring price into the 1.5600 area (1st target) and then 1.5480 (2nd target).
Scenario 2. Should price move above the 1.5870 level, the weekly support will be confirmed and price could continue higher after a retracement.
The retracement could bring price down tot 1.5790-1.5800 (this level could be different and it will be defined later on as price develops) area before a continuation higher.
Hope this helps
Have a great eve.
Cheers
"markets traded by programs/HFT offer a significant trading edge..."
- #65,438
- Jan 29, 2013 7:09pm Jan 29, 2013 7:09pm
- | Commercial User | Joined Nov 2012 | 3,178 Posts
Trade smaller than rational because the market is irrational...
