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  • #16,541
  • Feb 5, 2013 9:05am Feb 5, 2013 9:05am
LIVE on SPIDER's DEN.

3498 held and great 30 pips in 3 mins. Trend's our friend. Scaling out 3547.

Attached Image (click to enlarge)
Click to Enlarge Name: EU2.jpg Size: 125 KB
  • #16,542
  • Feb 5, 2013 10:20am Feb 5, 2013 10:20am
Just to inform, ex yu traders ( Serbo-Croatian language area), I will be holding a webinar about basic steps of Forex Technical analysis on 6th of February 2013 18:00 CET ( GMT+1) till 20:00. Webinar is absolutely free of charge and there is no any commerical interest at all.

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The link: is http://www.forextrade.rs/edukacija/webinari/ You can sign in under: Osnove Tehnicke Analize.

The webinar holds no commercial interest, is free and for starters it will be held only in Serbo-Croatian language. All native and non native speakers are welcome.
  • #16,543
  • Feb 5, 2013 10:23am Feb 5, 2013 10:23am
Trade update: Trade closed completely at 3578.
  • #16,544
  • Feb 5, 2013 10:35am Feb 5, 2013 10:35am
Quoting T@rantula
Trade update: Trade closed completely at 3578.
Really strong up move today.
Could not get a second bite below 3490.

Anyway just exit my Long around 359x for 100-pips.
  • #16,545
  • Feb 5, 2013 10:40am Feb 5, 2013 10:40am
Quoting foxybunny
Really strong up move today.
Could not get a second bite below 3490.

Anyway just exit my Long around 359x for 100-pips.
  • #16,546
  • Feb 6, 2013 12:21am Feb 6, 2013 12:21am
levels for today
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Attached Image
  • #16,547
  • Feb 6, 2013 6:18am Feb 6, 2013 6:18am
Quoting infinitus
levels for today
Thanks Markus.

Today we have a situation where EU is retracing after a jump from yesterday. As we can see on the chart 3510 is VERY important level. My strategy is to buy above, stops at 3509. If the price breaks the upper trendline of the triangle that will give momentum to bulls, if it breaks 3510 to the downside i will go with breakout strategy.

Look at 3510 and how important it is on H1 timeframe. ( I havent included h1 chart but just switch to it)



Attached Image (click to enlarge)
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Analysis also available on Forex Blog.
  • #16,548
  • Feb 6, 2013 7:18am Feb 6, 2013 7:18am
This is what I was talking about...how 3510 is important. Breakout trade was good for 10 quick pips but bulls are protecting 3500 heavily.
  • #16,549
  • Feb 6, 2013 7:26am Feb 6, 2013 7:26am
Quoting T@rantula
This is what I was talking about...how 3510 is important. Breakout trade was good for 10 quick pips but bulls are protecting 3500 heavily.
3494, 3480 and 3440 are the ones i am looking for here.. currently above 3530 then we got 3560, 3574, 3590 up to 3628...

3458 is very important - it'll lead the way to 3414 and 3365...
  • #16,550
  • Feb 6, 2013 7:36am Feb 6, 2013 7:36am
Quoting jaylovin
3494, 3480 and 3440 are the ones i am looking for here.. currently above 3530 then we got 3560, 3574, 3590 up to 3628...

3458 is very important - it'll lead the way to 3414 and 3365...
If 3460 breaks 3350 is near term target, but still lets see another 3510 breakout trade to the downside, 3492 is possible 2nd BO target.
  • #16,551
  • Feb 6, 2013 7:39am Feb 6, 2013 7:39am
Quoting T@rantula
If 3460 breaks 3350 is near term target, but still lets see another 3510 breakout trade to the downside, 3492 is possible 2nd BO target.

A quick Breakdown below 1.3500 to 1.3493, seems like want to go down, now prices pushing up again.

Is it a fakey down?

It is just hanging ... up or down ??

I already Short around 1.352x.
  • #16,552
  • Feb 6, 2013 7:40am Feb 6, 2013 7:40am
Quoting T@rantula
If 3460 breaks 3350 is near term target, but still lets see another 3510 breakout trade to the downside, 3492 is possible 2nd BO target.
It was 3494, 2nd BO. Closed it at 3498 missed TP by 2, still 11 pips on 2nd breakout, not bad.
  • #16,553
  • Feb 6, 2013 7:44am Feb 6, 2013 7:44am
Quoting foxybunny
A quick Breakdown below 1.3500 to 1.3493, seems like want to go down, now prices pushing up again.

Is it a fakey down?

It is just hanging ... up or down ??

I already Short around 1.352x.
This is battle between bulls and bears. You need to adapt your strategy. Many traders have longs around 3510, you see how it is protected. When trading the bearish side, 3520 is good entry but it depends on particular strategy u are using.

I shorted 2 times 3510. That puts you in a better position according to your short entry. But i managed to pull app. 20 pips out of those 2 trades. So, if you are swinging I presume that you want to grab more pips, but I like quick pips on breakouts.

General direction is still bullish according to H4.
  • #16,554
  • Feb 6, 2013 7:51am Feb 6, 2013 7:51am
Quoting T@rantula

General direction is still bullish according to H4.
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.jpg Size: 132 KB


If i had a long position Id place my stops just below 3485.
  • #16,555
  • Feb 6, 2013 7:51am Feb 6, 2013 7:51am
Quoting T@rantula
This is battle between bulls and bears. You need to adapt your strategy. Many traders have longs around 3510, you see how it is protected. When trading the bearish side, 3520 is good entry but it depends on particular strategy u are using.

I shorted 2 times 3510. That puts you in a better position according to your short entry. But i managed to pull app. 20 pips out of those 2 trades. So, if you are swinging I presume that you want to grab more pips, but I like quick pips on breakouts.

General direction is still bullish according to H4.

Yes the battle around 3500 to 3510 for now, with 3520 as a short-term resistance.

For Short target, I am looking for around 348x or 347x, for more Bulls to be around that area.

Realised I am not really good at scalping for 10-pips or 20-pips, I prefer to hold for a swing position with more pips, but of course my SL also more is the downside of these swing trades.
  • #16,556
  • Feb 6, 2013 7:51am Feb 6, 2013 7:51am
below 3494 - 3480 will be next... but this is war zone... and the winner could be anybody at this point...
  • #16,557
  • Feb 6, 2013 8:03am Feb 6, 2013 8:03am
Yes its a war, my presumption is that stops for long trades are placed around 3485. If u ask me If i had a long position id place the stop just below 3485.
  • #16,558
  • Feb 6, 2013 8:07am Feb 6, 2013 8:07am
Quoting T@rantula
Yes its a war, my presumption is that stops for long trades are placed around 3485. If u ask me If i had a long position id place the stop just below 3485.
3475 is better.. i expect 3478 to get hit but... 3494 hasn't broken so if the channel upside breaks then 3560.. in fact its happening now as i write

now this 3523 level is important for 3478 to hit in the near term.. must not break
  • #16,559
  • Feb 6, 2013 8:09am Feb 6, 2013 8:09am
Quoting foxybunny
Yes the battle around 3500 to 3510 for now, with 3520 as a short-term resistance.

For Short target, I am looking for around 348x or 347x, for more Bulls to be around that area.

Realised I am not really good at scalping for 10-pips or 20-pips, I prefer to hold for a swing position with more pips, but of course my SL also more is the downside of these swing trades.


Closed all Shorts near 3520 as don't like this Short, too much tug of war.

Wait for another entry, perhaps Long later.

New: Changing to Long now above 3520.
  • #16,560
  • Feb 6, 2013 8:43am Feb 6, 2013 8:43am
You see now...what 3510 was good longs... some play it both ways. 3510 breakout scalps and 3510 positioning with stops around 3485. Both ways are played out accordingly.
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