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  • #769,261
  • Mar 8, 2013 2:21am Mar 8, 2013 2:21am
Reasons for my buy limit order:

We have levels on top of levels, but also a demand at 2885 which is not fresh, in fact it's been hit multiple times. Valid for targets, but I wouldn't buy there.

So the next available demand lies roughly at 2850, which might cap the move if we go down.

On the Daily there is also a visible 2906 demand, however it is my belief that this is a level further to the left, so doubtful it will hold. I'd trust my eyes on H2:
Attached Image (click to enlarge)
Click to Enlarge Name: Trades 14.jpg Size: 249 KB
  • #769,262
  • Mar 8, 2013 2:22am Mar 8, 2013 2:22am
U/J important resistance at 95.60'ties, until it gets tested - E/J could go high as well
69
  • #769,263
  • Mar 8, 2013 2:24am Mar 8, 2013 2:24am
Quoting doggette
Reasons for my buy limit order:

We have levels on top of levels, but also a demand at 2885 which is not fresh, in fact it's been hit multiple times. Valid for targets, but I wouldn't buy there.

So the next available demand lies roughly at 2850, which might cap the move if we go down.

On the Daily there is also a visible 2906 demand, however it is my belief that this is a level further to the left, so doubtful it will hold. I'd trust my eyes on H2:
demands and POC need to be validated with volume, everything else are just guesses.

I am using the futures contract to determine supply and demand zones.
  • #769,264
  • Mar 8, 2013 2:25am Mar 8, 2013 2:25am
^ which prob means eu as well...seems to be moving similarly with ej (just less "violent")
  • #769,265
  • Mar 8, 2013 2:26am Mar 8, 2013 2:26am
no shorts for me yet
looking for investors . pm me
  • #769,266
  • Mar 8, 2013 2:27am Mar 8, 2013 2:27am
short ej 12504 tp 12443
  • #769,267
  • Mar 8, 2013 2:28am Mar 8, 2013 2:28am
Quoting spartanforex
short ej 12504 tp 12443
no sl?
  • #769,268
  • Mar 8, 2013 2:29am Mar 8, 2013 2:29am
Quoting Ken A
U/J is above 95.00 since when we last saw this number? I wouldn't place limit anywhere for now.

Positive NFP can send it to the moon.
I can't long it here. Very tight SL in case I do short it mate.
  • #769,269
  • Mar 8, 2013 2:29am Mar 8, 2013 2:29am
Quoting spartanforex
short ej 12504 tp 12443
The next level is 125.3x areas. is that your SL?
  • #769,270
  • Mar 8, 2013 2:30am Mar 8, 2013 2:30am
Quoting Likerty
U/J important resistance at 95.60'ties, until it gets tested - E/J could go high as well
These levels were 6 years ago. Do you think it's still there?
  • #769,271
  • Mar 8, 2013 2:37am Mar 8, 2013 2:37am
What comes to NFP, possible play could be 1.3020/1.3120 or 60/60, roughly.

This 5-10 pips wanking on majors and major crosses will not end until NFP or breakout in cable from range 1.4976 - 1.5026

and

in eurusd from range 1.3081/76 - 1.3116/21.
They think they are smarter than I am.
  • #769,272
  • Mar 8, 2013 2:37am Mar 8, 2013 2:37am
Quoting Ken A
These levels were 6 years ago. Do you think it's still there?
I wouldn't bet a stake on it.
  • #769,273
  • Mar 8, 2013 2:37am Mar 8, 2013 2:37am
Quoting Vectamart
You favour your EJ shorts, n'est-ce pas?
There are definitely two cases to be argued here....

Short - regression trade looking at the correction scenario of the daily chart ABC pattern currently on a potential wave C down.
This is a good solid pattern conforms well to the rules and so far the correction has only made it to about 32% - they normally end in the 38-62% zone.
We are also at the weekly R1 level and of course the current high

Long - trend trade looking at the possible 5 wave trend movement currently on wave 5
This is a possible scenario but the chart does not conform that well.
But even if this scenario is correct there is room for the w4 to extend lower first in line with the short scenario targets.


So both options are open, but think about this for those that would say don't short this one could retort don't bother longing it here either because you are buying at the relative top of the move. So they should wait for a good pullback ie: the outcome of the short scenario.

So for me longs are not in play I would rather stand aside, and shorts have some probability. But we also have to accept that there maybe intervention going on. But does that mean you buy at the top?

both charts attached with targets lines
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY-sbDaily.png Size: 30 KB
Click to Enlarge Name: EURJPY-sbDaily B.png Size: 30 KB
  • #769,274
  • Mar 8, 2013 2:38am Mar 8, 2013 2:38am
Quoting Ken A
These levels were 6 years ago. Do you think it's still there?
No, no - I'm not talking about pre-historic PA levels - these are fresh ones - based on extensions of recent Daily and intraday developments..
69
  • #769,275
  • Mar 8, 2013 2:42am Mar 8, 2013 2:42am
Quoting MaxDoom

.................

So for me longs are not in play I would rather stand aside, and shorts have some probability. But we also have to accept that there maybe intervention going on. But does that mean you buy at the top?

both charts attached with targets lines
Don't you love this guy...? Perfectly explained as usual...
  • #769,276
  • Mar 8, 2013 2:47am Mar 8, 2013 2:47am
Quoting acidburn123
demands and POC need to be validated with volume, everything else are just guesses.

I am using the futures contract to determine supply and demand zones.
Actually if you know anything about supply and demand, the volume will be at it's lowest at the turns. However, using futures S/D is a good way to determine if a level might work in another asset.
  • #769,277
  • Mar 8, 2013 2:47am Mar 8, 2013 2:47am
Quoting Vectamart
Good morning ladies and gentlemen!

I may decide to wait on the sidelines today - at least until the whipsawing and volatility associated with this afternoon's NFP announcement has subsided.
Ditto. Best idea I've read here this morning.

I need a solid break above the 3117 with follow through to convince me of a reversal. Fundies got to be right today for any kind of uptrend to develop, not just that engulfing in the daily.
  • #769,278
  • Mar 8, 2013 2:49am Mar 8, 2013 2:49am
125.07 short target 122.51 if can
looking for investors . pm me
  • #769,279
  • Mar 8, 2013 2:49am Mar 8, 2013 2:49am
Quoting MaxDoom
There are definitely two cases to be argued here....

Short - regression trade looking at the correction scenario of the daily chart ABC pattern currently on a potential wave C down.
This is a good solid pattern conforms well to the rules and so far the correction has only made it to about 32% - they normally end in the 38-62% zone.
We are also at the weekly R1 level and of course the current high

Long - trend trade looking at the possible 5 wave trend movement currently on wave 5
This is a possible scenario but the chart does not conform...
Many thanks for sharing your analysis.
  • #769,280
  • Edited 3:05am Mar 8, 2013 2:50am | Edited 3:05am
Quoting MaxDoom
it stinks of intervention
I think the Boj was waiting until criticism of Yen weakening around the G20 meetings subsided, now they are at it again
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