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- #65,802
- Feb 11, 2013 2:29am Feb 11, 2013 2:29am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
"markets traded by programs/HFT offer a significant trading edge..."
- #65,804
- Feb 12, 2013 3:01am Feb 12, 2013 3:01am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
"markets traded by programs/HFT offer a significant trading edge..."
- #65,805
- Feb 12, 2013 4:49am Feb 12, 2013 4:49am
- Joined May 2010 | Status: Simple chart is the best... | 2,015 Posts
Hello,
(...)
Scenario 2a. Price could move back to retest the 1.3360 area on Tuesday and Wednesday. After that price could pierce Friday's low and continue into the 1.3200 next support area.
Let me know your thoughts
Cheers
I totally support your analysis with one condition to Scenario 2a which I do not frankly agree...
I would rather look for big-BUYers in 1.33000-1.32700 zone which is perfect combination of three Fibo zone plus strong Support/resistance area.
So scenario 2a is more likely to look like that:
Read Charts - Not Papers
- #65,806
- Feb 12, 2013 5:03am Feb 12, 2013 5:03am
- Joined May 2010 | Status: Simple chart is the best... | 2,015 Posts
Read Charts - Not Papers
- #65,807
- Feb 12, 2013 5:39am Feb 12, 2013 5:39am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
Nice PA action on the Euro. 
Let me post a chart update for what we could/need to see in the Euro:
http://www.forexfactory.com/attachme...1&d=1360668613
The Scenario 2b indicated in the morning (check my prev post) is playing out. The 1.3451 threshold is now gone. We have two other important levels above current price that could now be violated on the upside (and there is now a good probability they will).
First is the 1.3510 level and then is the 1.3580 level.
The violation on the upside of the 1.3510 level would confirm the support area at 1.3360 also on the daily timeframe. In that case any retest of the 1.3360 should probably hold.
If the 1.3510 level is violated on the upside we could still get a retrace (that would be the entry/or an add for the big guys on this move higher), We could retrace into the 1.3450 (will be more precise on the actual area in the coming days).
The violation on the upside of the 1.3580 level would confirm the swing target in the 1.3870 area, which is where I will remove my swing longs.
PS: I am going to record a video every evening for the next day. Will also post a chart in the Euro-related threads. Check the "Euro/Dollar" thread for updates, that will be the first thread where I will post chart.
Please let me have your thoughts.
Have a great, great, green, green day
Let me post a chart update for what we could/need to see in the Euro:
http://www.forexfactory.com/attachme...1&d=1360668613
The Scenario 2b indicated in the morning (check my prev post) is playing out. The 1.3451 threshold is now gone. We have two other important levels above current price that could now be violated on the upside (and there is now a good probability they will).
First is the 1.3510 level and then is the 1.3580 level.
The violation on the upside of the 1.3510 level would confirm the support area at 1.3360 also on the daily timeframe. In that case any retest of the 1.3360 should probably hold.
If the 1.3510 level is violated on the upside we could still get a retrace (that would be the entry/or an add for the big guys on this move higher), We could retrace into the 1.3450 (will be more precise on the actual area in the coming days).
The violation on the upside of the 1.3580 level would confirm the swing target in the 1.3870 area, which is where I will remove my swing longs.
PS: I am going to record a video every evening for the next day. Will also post a chart in the Euro-related threads. Check the "Euro/Dollar" thread for updates, that will be the first thread where I will post chart.
Please let me have your thoughts.
Have a great, great, green, green day
"markets traded by programs/HFT offer a significant trading edge..."
- #65,808
- Feb 12, 2013 5:46am Feb 12, 2013 5:46am
- Joined May 2010 | Status: Simple chart is the best... | 2,015 Posts
Nice PA action on the Euro.
Let me post a chart update for what we could/need to see in the Euro:
(...)
Please let me have your thoughts.
Have a great, great, green, green day
Hehe... my friend
I think I am in oposition to you today
However who's right or wrong will tell us Mr.Draghi in few hours time
Read Charts - Not Papers
- #65,809
- Feb 12, 2013 5:56am Feb 12, 2013 5:56am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
Hello halkins,
it happens to be wrong every now and then, and this time it could be me. But I urge you to remove shorts should we get above 1.3510...
Good luck my friend.
Cheers
G.
it happens to be wrong every now and then, and this time it could be me. But I urge you to remove shorts should we get above 1.3510...
Good luck my friend.
Cheers
G.
Hehe... my friend
I think I am in oposition to you today
However who's right or wrong will tell us Mr.Draghi in few hours time
Attachment
"markets traded by programs/HFT offer a significant trading edge..."
- #65,811
- Feb 12, 2013 6:00am Feb 12, 2013 6:00am
- Joined May 2010 | Status: Simple chart is the best... | 2,015 Posts
Read Charts - Not Papers
- #65,812
- Feb 12, 2013 7:33am Feb 12, 2013 7:33am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
"markets traded by programs/HFT offer a significant trading edge..."
- #65,813
- Feb 12, 2013 7:34am Feb 12, 2013 7:34am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
DX found resistance here. It broke the trendline too.
Trendlines are just made to be broken and I don't trust them... (you may argue they have to be broken on a closing basis or 2%-3% of price, ect. ect.....) That's just my viewpoint. Unfortunately I cannot make money with trendlines.Of course if you can make more with trendlines, more power to you... and I am happy for you.
I would like to see price moving below 80.17 which would suggest to me that a retest of the 79.80 level of support would be very probable, pushing the Euro higher.
What do you think? I had some good comments on the blog on the Dollar.
http://www.forexfactory.com/attachme...1&d=1360674181
Trendlines are just made to be broken and I don't trust them... (you may argue they have to be broken on a closing basis or 2%-3% of price, ect. ect.....) That's just my viewpoint. Unfortunately I cannot make money with trendlines.Of course if you can make more with trendlines, more power to you... and I am happy for you.
I would like to see price moving below 80.17 which would suggest to me that a retest of the 79.80 level of support would be very probable, pushing the Euro higher.
What do you think? I had some good comments on the blog on the Dollar.
http://www.forexfactory.com/attachme...1&d=1360674181
"markets traded by programs/HFT offer a significant trading edge..."
- #65,814
- Feb 12, 2013 8:56am Feb 12, 2013 8:56am
- 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
- #65,815
- Feb 12, 2013 9:00am Feb 12, 2013 9:00am
- 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
- #65,817
- Feb 12, 2013 9:03am Feb 12, 2013 9:03am
- 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
- #65,818
- Feb 12, 2013 9:04am Feb 12, 2013 9:04am
- 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
- #65,819
- Feb 12, 2013 9:05am Feb 12, 2013 9:05am
- | Commercial User | Joined May 2012 | 3,285 Posts
Draghi comments:
- Spain Has Made Enormous Progress Since Nov 2011
- Spain is on the right track
- Bank aid program is showing positive results
- Came here to recognize the efforts of Spaniards
Nothing new or earth shattering here... so far.