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  • #754,361
  • Feb 5, 2013 9:47am Feb 5, 2013 9:47am
Quoting Vectamart
Agreed; however, we need it to decisively penetrate the main pivot line at 1.3559 first - and so far every time it attempts to do so it meets with stiff resistance. If a 5 minute candle breaches the pivot and the next candle takes it out, then I believe that 1.3585 will be a realistic target.

Underlying trend on daily chart is definitely still upwards.
Very good explanation... I couldn't write it better myself...
  • #754,362
  • Feb 5, 2013 9:51am Feb 5, 2013 9:51am
At this stage 30-60mn candle is not good for longs

5mn to go to change it. Break or bounce.
  • #754,363
  • Feb 5, 2013 10:01am Feb 5, 2013 10:01am
3545 is the line in the sand.. close above will test 1.37 again
  • #754,364
  • Feb 5, 2013 10:02am Feb 5, 2013 10:02am
Quoting Fxnewdeal
At this stage 30-60mn candle is not good for longs

5mn to go to change it. Break or bounce.
Right now, the PA seems to be completely indecisive. All we are seeing is low amplitude noise. I need to see the price penetrate the pivot before entering new longs (my earlier comment a few mins ago refers). However, the fact that the PA is north of the MA(10) reading on the H1 chart, coupled with a positive MACD number is encouraging. The RSI at below 50 needs to go up before my confidence is increased sufficiently to enter another long trade.
  • #754,365
  • Feb 5, 2013 10:02am Feb 5, 2013 10:02am
Best to wait for an exit from the tapered channel. I have absolutely no idea which way it will go. has been brutal since the bizarre reaction to NFP data.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_tapered_channel.jpg Size: 99 KB
  • #754,366
  • Feb 5, 2013 10:03am Feb 5, 2013 10:03am
Quoting ec_creep
i guess this is where we'll range. 3490-3560
after having a closer look, 3485-3565.
if ny close this h4 candle on my chart (ends in 2 hours) at 3565ish. it will just be hilarious...
  • #754,367
  • Feb 5, 2013 10:05am Feb 5, 2013 10:05am
Quoting Vectamart
Right now, the PA seems to be completely indecisive. All we are seeing is low amplitude noise. I need to see the price penetrate the pivot before entering new longs (my earlier comment a few mins ago refers). However, the fact that the PA is north of the MA(10) reading on the H1 chart, coupled with a positive MACD number is encouraging. The RSI at below 50 needs to go up before my confidence is increased sufficiently to enter another long trade.
5mn/H1 very indecisive.
below 25 could trigger more short. And like you said above the pivot for more longs.
25 is saving the bulls so far.
  • #754,368
  • Feb 5, 2013 10:09am Feb 5, 2013 10:09am
Market indecisive = 4exNinja heading off to the pub

Can't wait for Thursday, should provide for some decent moves
  • #754,369
  • Feb 5, 2013 10:10am Feb 5, 2013 10:10am
Uuupppss..
  • #754,370
  • Feb 5, 2013 10:11am Feb 5, 2013 10:11am
Quoting math_GB
Uuupppss..
Roar!
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  • #754,371
  • Feb 5, 2013 10:13am Feb 5, 2013 10:13am
Wow, any explanation for this sudden up move?
  • #754,372
  • Feb 5, 2013 10:13am Feb 5, 2013 10:13am
up up up! 1.3585 should come now or I am out!
Maximizing your potentials!
  • #754,373
  • Feb 5, 2013 10:15am Feb 5, 2013 10:15am
Looks like they locked 1.3525 now...higher prices shall come.

But if this h1 ends down, full reversal down!
  • #754,374
  • Feb 5, 2013 10:16am Feb 5, 2013 10:16am
Quoting ptsnu
Wow, any explanation for this sudden up move?
Profit taking and stop hunting, I imagine.
  • #754,375
  • Feb 5, 2013 10:16am Feb 5, 2013 10:16am
jeez.... that is one big UP candle!!!

Don't see any news what could have caused it?!?
  • #754,376
  • Feb 5, 2013 10:16am Feb 5, 2013 10:16am
hmm..

it's that 3571 again from the 31st
  • #754,377
  • Feb 5, 2013 10:17am Feb 5, 2013 10:17am
U/J, E/J and E/U are in sync. Let's see where E/U will go.
  • #754,378
  • Feb 5, 2013 10:17am Feb 5, 2013 10:17am
DOJ to announce major fraud idictment @ 11:15 NY time
  • #754,379
  • Feb 5, 2013 10:19am Feb 5, 2013 10:19am
We need to see 1.3572 now to consolidate the move before going long.
  • #754,380
  • Feb 5, 2013 10:19am Feb 5, 2013 10:19am
Quoting michaelboord
jeez.... that is one big UP candle!!!

Don't see any news what could have caused it?!?
it formed a penant a very huge one and blasted off
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