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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #65,681
  • Feb 6, 2013 10:16am Feb 6, 2013 10:16am
Quoting Pip_Warrior
If price breaks that red trend line, I see EUR/USD going up to 3560 (light blue)
Attachment
A good inverse H/S, but I would not chase it, less fuel and it could go sideways, possibility to come at support around 1.3520-10.
  • #65,682
  • Feb 6, 2013 10:19am Feb 6, 2013 10:19am
Quoting pkimnyc
thanks mate.
You are welcome. Usually Zero Hedge and others provide a real time link right before the grand show @830. If you want commentary DailyFX provides one of their analyst giving their thoughts in real time while Super Mario is on the air.
Trade smaller than rational because the market is irrational...
  • #65,683
  • Feb 6, 2013 10:25am Feb 6, 2013 10:25am
Quoting EuroTraderJD
You are welcome. Usually Zero Hedge and others provide a real time link right before the grand show @830. If you want commentary DailyFX provides one of their analyst giving their thoughts in real time while Super Mario is on the air.
awesome. that's a big help. thanks a bunch.
  • #65,684
  • Feb 6, 2013 10:29am Feb 6, 2013 10:29am
Quoting rekon67
A good inverse H/S, but I would not chase it, less fuel and it could go sideways, possibility to come at support around 1.3520-10.
Thanks Reckon! I don't see the support at 2510 but I agree, not going to chase this bronco
Do what you are afraid to do -Emerson
  • #65,685
  • Feb 6, 2013 10:29am Feb 6, 2013 10:29am
Quoting pkimnyc
awesome. that's a big help. thanks a bunch.
You are welcome. Anything I can do to help another trader.

I will send you a bill for a bunch of green pips...
Trade smaller than rational because the market is irrational...
  • #65,686
  • Feb 6, 2013 10:33am Feb 6, 2013 10:33am
If you use DailyFX the link is in the Live News feed.
Trade smaller than rational because the market is irrational...
  • #65,687
  • Feb 6, 2013 10:48am Feb 6, 2013 10:48am
Quoting Pip_Warrior
Thanks Reckon! I don't see the support at 2510 but I agree, not going to chase this bronco
With reference to your posted chart, the below blue lines are regression support and what are the numbers?
  • #65,688
  • Feb 6, 2013 12:16pm Feb 6, 2013 12:16pm
Quoting rekon67
With reference to your posted chart, the below blue lines are regression support and what are the numbers?
The blue numbers to the left are the bid and ask price of my Broker (Oanda) at the time, about 1.2pips; no importance except to show where price was when I posted
Do what you are afraid to do -Emerson
  • #65,689
  • Feb 6, 2013 3:41pm Feb 6, 2013 3:41pm
Got a little trendline holding...lets see if it keeps pushing her down.
Attached Image (click to enlarge)
Click to Enlarge Name: trendline holding.gif Size: 16 KB
  • #65,690
  • Feb 6, 2013 4:43pm Feb 6, 2013 4:43pm
Quoting EuroTraderJD
You are welcome. Anything I can do to help another trader.

I will send you a bill for a bunch of green pips...
"markets traded by programs/HFT offer a significant trading edge..."
  • #65,691
  • Feb 7, 2013 2:17am Feb 7, 2013 2:17am
Looks like we won't see much action until Rate Cut and./or Press Conference. So we wait...

Edit: Oops, maybe I spoke too soon... E/U just shot up 20 pips since I posted this a few minutes ago LOL
  • #65,692
  • Feb 7, 2013 2:23am Feb 7, 2013 2:23am
Good Morning,
the 'invisible bid' in the Euro has started. Above 1.3557 spot bulls back in control on the 4-hour chart as well.

Trade safe
"markets traded by programs/HFT offer a significant trading edge..."
  • #65,693
  • Feb 7, 2013 2:29am Feb 7, 2013 2:29am
I've got quite a few long positions with EUR/AUD all in the Green now.

Looks like 1.323 should be our next area of Resistance according to the Weekly charts. I'm anticipating (hoping) for some sort of pullback at that time which will provide another opportunity to scale in more positions.

Next area of resistance above 1.323 on a weekly chart is 1.366. Above that is my main target of 1.393

Areas of Resistance (Weekly)
1st Weekly Resistance - 1.323
2nd Weekly Resisstance - 1.366
3rd Weekly Resistance - 1.393


*Weekly Descending TL Broken & Confirmed
*Weekly Resistance @ 1.300 Broken & Confirmed
*Weekly Inverted Head & Shoulders Pattern - Target 1.40 (thanks PT for pointing this one out, patterns are not my strong suit)

7 Open Long Positions:
1.3096, 1.3097, 1.3079, 1.3007, 1.2952, 1.2980, 1.2994
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURAUD - Weekly (2-4).jpg Size: 169 KB
Click to Enlarge Name: EURAUD_-_Weekly_(2-6).jpg Size: 140 KB
Click to Enlarge Name: EURAUD_-_Weekly_Resistance_(2-5).jpg Size: 169 KB
  • #65,694
  • Feb 7, 2013 3:03am Feb 7, 2013 3:03am
Hello traders,
my up to date view on the Dollar Index (daily chart below is from yesterday's mid-week update):

The 79.90 area in the Dollar Index looks strong resistance at the moment and it's very possible it will be able to contain higher price. The sequence of measured moves higher failed on the 4-hour timeframe. The short setup at 79.90 has targets at 78.50 (1st) and then 77.70 (2nd) helping price into that larger weekly setup's target at 77.50s, which started with the resistance at the 81.60s, in November.

These are the two updated scenarios I see going forward (refer to the picture below):

http://www.forexfactory.com/attachme...1&d=1360226968

Scenario 1. Price could start a move lower into the first target at the 78.50 area. It could then continue into the next area of target at 77.70 and into 77.60, after a brief profit taking relief move higher (this is the higher probability scenario).

Scenario 2. After trading down into the 78.50 first area of target price could reverse and start trading higher. This scenario seems less probable at this stage.

Of course we still need further confirmation that the Dollar Index has actually topped in this move. This would coincide with renewed, anticipated strength in the Euro-Dollar cross. Currently the bears are in control of the 15min timeframe and the confirmation of the targets mentioned above and the resistance level would come with price below 79.30. This could take a day or two.

Let me know your thoughts? ty

Have a great day.
"markets traded by programs/HFT offer a significant trading edge..."
  • #65,695
  • Feb 7, 2013 3:16am Feb 7, 2013 3:16am
LOL, I'm a stalker!

The retrace to the 50% / yesterday's close / 1 day PVP level in a high volume hammer gave a nice buy signal and the speed of the rally + 58 in 36 mins rather surprised me. The high on lower volume was my signal to take partials at my T2 fib expansion and I've just bought that back ~MR 1, looking for the R1 / 2 day PVP confluence to take this morning's profits and later watch the pre ECB action....
Attached Image (click to enlarge)
Click to Enlarge Name: fen 7 € 5m 0910 gmt.gif Size: 26 KB
Trading Levels with WRBs
  • #65,696
  • Feb 7, 2013 3:42am Feb 7, 2013 3:42am
Very nice! GL

Quoting Islander
LOL, I'm a stalker!

The retrace to the 50% / yesterday's close / 1 day PVP level in a high volume hammer gave a nice buy signal and the speed of the rally + 58 in 36 mins rather surprised me. The high on lower volume was my signal to take partials at my T2 fib expansion and I've just bought that back ~MR 1, looking for the R1 / 2 day PVP confluence to take this morning's profits and later watch the pre ECB action....
"markets traded by programs/HFT offer a significant trading edge..."
  • #65,697
  • Feb 7, 2013 4:00am Feb 7, 2013 4:00am
Quoting fibstalker
Very nice! GL
Thanks. The bounce up off the MR 1 area stalled in the 3572 area - also the .786 retrace of yesterday's range, so I closed out and am now finished for this morning.
Trading Levels with WRBs
  • #65,698
  • Feb 7, 2013 4:26am Feb 7, 2013 4:26am
today with draghi eur jpy up or down ??

ahaha
  • #65,699
  • Feb 7, 2013 4:27am Feb 7, 2013 4:27am
Quoting wallstreet03
today with draghi eur jpy up or down ??

ahaha
Impossible to know before hand, unless of course you have a Crystal Ball!
  • #65,700
  • Feb 7, 2013 5:15am Feb 7, 2013 5:15am
Quoting 100PipsADay
Impossible to know before hand, unless of course you have a Crystal Ball!

Crystal balls have a way of leading you in the wrong direction

My crystal ball tells me no rate cut today and Draghi will continue to blow sunshine up our a$$ets

http://www.cartoonstock.com/newscart...s/tnen649l.jpg
Those who say it cannot be done should not interrupt those who are doing it
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