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  • #16,521
  • Edited 4:20am Feb 4, 2013 3:59am | Edited 4:20am
Quoting jaylovin
and btw don't be sorry... i am much happier and i haven't totally quit the markets... just gonna try to sponge money from a different angle that suits my lifestyle

as i say i will still post analysis and opinion when and where i can.. though will be less frequent..

if 1.3710 holds then we could revisit 1.3592.. down to 1.3475... next level above is 1.3771

3592 hit... next is 3475... maybe up then down first...


EDIT: 1.3513 may be show stopper in the short term.. perhaps today or tomorrow
  • #16,522
  • Feb 4, 2013 4:05am Feb 4, 2013 4:05am
Quoting jaylovin
3592 hit... next is 3475... maybe up then down first...
hi Jaylovin,



hope you had a nice weekend.



Murrey points to 3550, in extension to 3519


channel technique points to 3575


Pivot + S/R points to 3567, in extension 3520



interesting is, that R3 is @ 3454, that coincides with a broader channel which comes into play around 3448



Do you use the fibs mainly for your conclusions?
  • #16,523
  • Edited 4:18am Feb 4, 2013 4:07am | Edited 4:18am
3590 rejection went 20 pips to 3610 but then I am stopped on BE.

Now this candle has closed below WPP. I am eyeing my 2nd demand zone per chart analysis, although 75 is also demand zone. ( 3570-90) 1 st demand zone per chart analysis.


2nd swing down should be 3545-20 to demand. Every zone has its good scalping opportunities if we dont try to catch early continuation.

Jay and Markus,

3475 is retracement on daily TF and if we watch daily we can retrace to 3430 and that should be great support over there on daily TF. But lets not make assumptions early, lets trade it day by day. 75 rejected again, typical for the session.
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  • #16,524
  • Feb 4, 2013 4:11am Feb 4, 2013 4:11am
Quoting infinitus
Important is also the value area (grey shaded area around the POC). The value area represents the area, where 70% of all the trades took place.

Value area low (VaL) Friday was 3612, value area high (Vah) was 3673


Break of either side is bullish or bearish.


So look at 3612; break of 3612 will reveal 3568

Love it :-)



Now we are at the virgin POC, which is not only the POC from Thursday but also Wednesday

VaL on Thursday was 3550, 3512 on Wednesday
  • #16,525
  • Feb 4, 2013 4:46am Feb 4, 2013 4:46am
Was waiting to go Long above 3610, and it did not go beyond there yet.

My next Demand zone is around 3570, and further down Demand zone is around 3545-3551.

Price now hovering around 3590.

Seem like better to wait till 3545-3551 to see if can go Long around there, perhaps during US session today.
  • #16,526
  • Feb 4, 2013 5:07am Feb 4, 2013 5:07am
Quoting foxybunny
Was waiting to go Long above 3610, and it did not go beyond there yet.

My next Demand zone is around 3570, and further down Demand zone is around 3545-3551.

Price now hovering around 3590.

Seem like better to wait till 3545-3551 to see if can go Long around there, perhaps during US session today.
3590 and 3575 both were good for 15-20 pip scalps. For intraday longs I am monitoring 3545-20, and as always when we have a big retrace if u go for intraday stops at BE after initial 20 pips.

Scalps at demand zones have been played out almost blindly today, for s/r scalpers it has been haven.
  • #16,527
  • Feb 4, 2013 5:21am Feb 4, 2013 5:21am
Here the outbreak has been initiated with Bearish Belt Hold pattern with trendline break.

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  • #16,528
  • Feb 4, 2013 7:42am Feb 4, 2013 7:42am
3548 is major pivotal point 4/8 of MM. 3540-50 is demand zone. If broken it will retest 3520. Recovery above 3540 aims for 3588 again.
  • #16,529
  • Feb 4, 2013 9:05am Feb 4, 2013 9:05am
Looks like 3610-15 could be achieved later if 3530 holds.

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  • #16,530
  • Feb 4, 2013 1:23pm Feb 4, 2013 1:23pm
Bearish grinding led to 3505 today. Well, now Ill be probably looking to sell ( depends on daily close) and the possible target I have is 3465. But below that H&S is possible and bullish trend will lose its grip.

Still according to MM and profit its been a great day as scalping off s/r multiple times got app 30 pips total. ( 3590 and 3550).

So ill post a chart later explaining what could happen and what to look for. We need to pay attention to THURSDAY as we have REPO RATE decision and that will give us next trend on EURUSD.
  • #16,531
  • Feb 4, 2013 7:19pm Feb 4, 2013 7:19pm
EURUSD ANALYSIS 5 FEB 2013

3550 zone stands good for shorting opportunities on rallies. Its DPP ,23.6 fib of the last swing and important 50 level. This is an early analysis and looking from this perspective its good for shorts. Target is 3470 where weekly support is. 3490 is interim support.

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You can also read the text on my Forex Blog.
  • #16,532
  • Feb 4, 2013 7:24pm Feb 4, 2013 7:24pm
Quoting jaylovin
3592 hit... next is 3475... maybe up then down first...

Still on track. 3399 if momentum picks up.3365 will break bulls ego.. Having given up spot feels great I have to say and analysis is now so much more clear
  • #16,533
  • Edited 3:07am Feb 5, 2013 2:51am | Edited 3:07am
Here it comes... 3464...right to the target....without previous rally ! I dont like when that happens.

Now here we come to the next step. This move potentially can lead us to 3800. The only target I have below for upward continuation to 3800 is 3430. Now the question is, weekly or daily support demand. Because consolidation below WPP would lead to a potential H&S on H4 with 3350-3280 in sight.

According to my analysis Weekly support ( 3469) has been already taken out, but the price has been heavily bought after it took some stops out ( 3458). If that is THE RETRACEMENT 3550 should be touched later today on its way to 3800 later in the week ( but still THURSDAY will give some cues)

Here is the chart:

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  • #16,534
  • Feb 5, 2013 3:52am Feb 5, 2013 3:52am
Quoting T@rantula
Here it comes... 3464...right to the target....without previous rally ! I dont like when that happens.

Now here we come to the next step. This move potentially can lead us to 3800. The only target I have below for upward continuation to 3800 is 3430. Now the question is, weekly or daily support demand. Because consolidation below WPP would lead to a potential H&S on H4 with 3350-3280 in sight.

According to my analysis Weekly support ( 3469) has been already taken out, but the price has been heavily bought after it took some stops out ( 3458)....
Since London open today, E/U fast climb up with support around 3460-3465.

What do you mean when you said "Weekly support ( 3469) has been already taken out"?
As I would guess your meaning is to go Short if support was taken out, but you seem to be saying Long instead.

Only went 1- Long a bit late near 3500 as hoping price to retrace.
Waiting to see if price will come back to get into more Longs.

This price up unsure whether it is a real rally or bear-rally.
Your target of 3800 is a good profit if we can get into some early Longs.
  • #16,535
  • Feb 5, 2013 4:04am Feb 5, 2013 4:04am
Quoting foxybunny
Since London open today, E/U fast climb up with support around 3460-3465.

What do you mean when you said "Weekly support ( 3469) has been already taken out"?
As I would guess your meaning is to go Short if support was taken out, but you seem to be saying Long instead.

Only went 1- Long a bit late near 3500 as hoping price to retrace.
Waiting to see if price will come back to get into more Longs.

This price up unsure whether it is a real rally or bear-rally.
Your target of 3800 is a good profit if we can get into some early Longs....
Hi foxybunny.

Weekly support has been broken that is what i meant. That was my target for the possible sell into rally. We reached the target but without a good rally. I did say short it but my presumption was that we will have a rally first then short it ( sell into rallies). As we can see after the target has been reached it was heavily bought. The only thing for bulls is to keep that 3430 zone support. Weekly support is 3469 but main - key support is that 3430 zone.
  • #16,536
  • Feb 5, 2013 5:35am Feb 5, 2013 5:35am
Everything goes as planned. Buy into dips EU targets 3588 intraday.
  • #16,537
  • Feb 5, 2013 7:18am Feb 5, 2013 7:18am
Retracement could give us another swing high entry. 3525-15 watching it.
  • #16,538
  • Feb 5, 2013 7:47am Feb 5, 2013 7:47am
Still watching it, no blind entries. Price is gravitating towards 3500, profit taking before US momentum kicks in.
  • #16,539
  • Feb 5, 2013 7:52am Feb 5, 2013 7:52am
1h close above 3512 is preferred for bulls. ( 50.fib of last swing)
  • #16,540
  • Feb 5, 2013 8:11am Feb 5, 2013 8:11am
Price closed above 3512 on 1h , new entry at 3517 or lower should be scaled out ( news in 50 mins) and stops put on BE or if the risk is pretty low stops should be put around 3498.

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