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EurAnalysis Kindergarten 24 replies

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  • #66,901
  • Apr 8, 2013 4:54pm Apr 8, 2013 4:54pm
Quoting Noeliu
Sorry for asking such a noob question but... What Does THat mean? If banks get more Eur, doesnt it mean people think Eur will get a lot weaker? Then... why is it going up during sydney open? is it a fake move to catch many SL on the down move?
No brother no need to apologize I had to read it a few times too and I even had the headline.

The bottom line is sellers are drying up.

Sorry for the cryptic post.
Trade smaller than rational because the market is irrational...
  • #66,902
  • Apr 8, 2013 4:56pm Apr 8, 2013 4:56pm
Quoting Noeliu
Sorry for asking such a noob question but... What Does THat mean? If banks get more Eur, doesnt it mean people think Eur will get a lot weaker? Then... why is it going up during sydney open? is it a fake move to catch many SL on the down move?
When a currency pair moves very far in one direction, at some point it has to correct before advancing further.
The extent to which a pair moves in a specific direction on an impulse move before you get a correction is usually correlated to the extent of the required correction from a larger time frame. For example, if you look at the USD/JPY on the daily or lower charts, it seems like it is way way overextended to the upside and is way overdue for a correction to the downside. However, when you look at it on the monthly chart, it looks more like an overdue upward correction after a long extended fall.

Get the drift?

In short, no matter what the fundies indicate, the multi-Timeframe technicals have to be respected.

Rule #1: At some point, price always returns to its mean. The trick is in predicting/calculating when the return to mean will happen.
Those who say it cannot be done should not interrupt those who are doing it
  • #66,903
  • Apr 8, 2013 4:57pm Apr 8, 2013 4:57pm
Quoting PipTrapper
You forgot the video that goes with that statement http://www.youtube.com/watch?v=Qc2usu1QsDk

PT your sense of humor is great. Hen videos, pig videos..

Hey it reminds me of a song I used to sing in grade school.

Old PT had a farm ei ei o and on his farm he had some pips ei ei o...

(Had to change it some to stay current with the times)
Trade smaller than rational because the market is irrational...
  • #66,904
  • Apr 8, 2013 4:58pm Apr 8, 2013 4:58pm
  •  Noeliu
  • | Joined Apr 2013 | Status: Hit SL?? Clicked the wrong button | 51 Posts
Thanks for the explanations! Im learning a lot!
  • #66,905
  • Apr 8, 2013 5:01pm Apr 8, 2013 5:01pm
Quoting EuroTraderJD
PT your sense of humor is great. Hen videos, pig videos.. Hey it reminds me of a song I used to sing in grade school. Old PT had a farm ei ei o and on his farm he had some pips ei ei o... (Had to change it some to stay current with the times)
With a Whee Whee here
and a Whee Whee there
Whee Whee here, there, everywhere a Whee Whee

Inserted Video
Those who say it cannot be done should not interrupt those who are doing it
  • #66,906
  • Apr 8, 2013 5:08pm Apr 8, 2013 5:08pm
Quoting PipTrapper
when you look at it on the monthly chart, it looks more like an overdue upward correction after a long extended fall.
right PT. i guess the usdjpy would want to poke 100 first then
drop hot.
am short already!!!
Life is beautiful the way you dress it.
  • #66,907
  • Apr 8, 2013 5:09pm Apr 8, 2013 5:09pm
Quoting EuroTraderJD
PT your sense of humor is great. Hen videos, pig videos.. Hey it reminds me of a song I used to sing in grade school. Old PT had a farm ei ei o and on his farm he had some pips ei ei o... (Had to change it some to stay current with the times)
i'm from a different continent, but we actually had to sing that song aswell
How to Win at Sports Betting: DON'T DO IT!
  • #66,908
  • Apr 8, 2013 5:10pm Apr 8, 2013 5:10pm
Option expiries of note for tomorrow's 1000am NY cut 9th April (1500BST)
EUR/USD - 1.3035, 1.2950, 1.3050, 1.3060, 1.3000
USD/JPY - 99.00, 99.25, 100.00
GBP/USD - 1.5225
EUR/CHF - 122.10
EUR/AUD - 1.2530

source:http://fxknight.talking-forex.com/!#/live.html (RELIABLE)
Life is beautiful the way you dress it.
  • #66,909
  • Apr 8, 2013 5:12pm Apr 8, 2013 5:12pm
Todays Review

NY walked in with the pair near 1.3010 after dips to 1.2960/70 were bought in Asia & Europe. Early NY had bulls in charge & the pair retested Friday’s post-NFP high but it failed to gain further ground. Spanish PM Rajoy stated Europe should consider new powers for the ECB to stoke some risk-off sentiment. Adding additional weight to EUR was a report from the Portuguese Finance Ministry saying the Troika will visit Lisbon after the recent court ruling. EUR/USD dipped to test 1.2990/95 but held twice as EUR/JPY’s bull run hit a new trend high of 129.24 & showed little signs of retreating. The March 25 high at 1.3050 remains key s-t resistance & if broken bulls will target 1.3110-35 where the 38.2% Fib of 1.3711-1.2740 and March 8 high reside. Daily & weekly RSIs remain biased up with no divergence signs while the USD’s yield advantage slips further. Beyond 1.3135, major resistance lies at 1.3163 (Feb 28 high). Above that level could see bearish positions established in March squeezed massively.
Trade smaller than rational because the market is irrational...
  • #66,910
  • Apr 8, 2013 5:25pm Apr 8, 2013 5:25pm
Quoting fxcode
right PT. i guess the usdjpy would want to poke 100 first then drop hot. am short already!!!
I'm not that compelled to jump in on a U/J short just yet. I think we'll eventually see U/J in the 110 area. However, I do expect a counter trend correction very soon. At least that's my opinion anyway. So a "Drop Hot" is not in my picture. Of course it all depends what your definition of "drop hot" is.

From a purely technical perspective, there is unfinished business down at the 85.50 area. The only question now is "Do we see 110 first?"
Those who say it cannot be done should not interrupt those who are doing it
  • #66,911
  • Apr 8, 2013 5:31pm Apr 8, 2013 5:31pm
Quoting PipTrapper
I'm not that compelled to jump in on a U/J short just yet. I think we'll eventually see U/J in the 110 area. However, I do expect a counter trend correction very soon. At least that's my opinion anyway. So a "Drop Hot" is not in my picture. Of course it all depends what your definition of "drop hot" is. From a purely technical perspective, there is unfinished business down at the 85.50 area. The only question now is "Do we see 110 first?"
I am in that boat as well. No one will be buying moving into the Yen for 'safety' anymore...this thing is gonng look more like the Chf after it finds its max range.
  • #66,912
  • Apr 8, 2013 5:37pm Apr 8, 2013 5:37pm
Quoting PipTrapper
From a purely technical perspective, there is unfinished business down at the 85.50 area. The only question now is "Do we see 110 first?"
i pray we dont cos option is still bet on the fat number "00" which am counting
on.
Life is beautiful the way you dress it.
  • #66,913
  • Apr 8, 2013 5:50pm Apr 8, 2013 5:50pm
Quoting chodd22
I am in that boat as well. No one will be buying moving into the Yen for 'safety' anymore...this thing is gonng look more like the Chf after it finds its max range.
lets keeep our fingers crossed but not twisted.
Life is beautiful the way you dress it.
  • #66,914
  • Apr 8, 2013 6:48pm Apr 8, 2013 6:48pm
Quoting fxcode
lets keeep our fingers crossed but not twisted.
Hell most of us are twisted anyway...
Trade smaller than rational because the market is irrational...
  • #66,915
  • Apr 8, 2013 7:22pm Apr 8, 2013 7:22pm
Out of existing long @31 for +33

Next existing long @84

Ms Market is running the tables for me.

Glad I didnt use a SL when these pos went underwater because now I have all my equity and more.....

MM pyramid works time and time again if you believe in the random walk theory
Trade smaller than rational because the market is irrational...
  • #66,916
  • Apr 8, 2013 7:48pm Apr 8, 2013 7:48pm

  1. The EUR/USD remains bid after stops were triggered above 1.3050
  2. There is talk of more EUR/USD stops above 1.3075 that are in focus
  3. Sellers are camped ahead of resistance at 1.3110 (38.2 of 1.3711/1.2740) [email protected]

Trade smaller than rational because the market is irrational...
  • #66,917
  • Apr 8, 2013 7:48pm Apr 8, 2013 7:48pm
Quoting fxcode
Option expiries of note for tomorrow's 1000am NY cut 9th April (1500BST) EUR/USD - 1.3035, 1.2950, 1.3050, 1.3060, 1.3000 USD/JPY - 99.00, 99.25, 100.00 GBP/USD - 1.5225 EUR/CHF - 122.10 EUR/AUD - 1.2530 source:http://fxknight.talking-forex.com/!#/live.html (RELIABLE)
Thanks Bro
Trade smaller than rational because the market is irrational...
  • #66,918
  • Apr 8, 2013 9:51pm Apr 8, 2013 9:51pm
Since its pop this morning EUR/USD has been trapped in a very tight range.

 

  1. Banks have sell orders at 1.3070/80, with stops above there. Selling again around 1.3100/10
  2. Buy orders 1.3050

Trade smaller than rational because the market is irrational...
  • #66,919
  • Apr 8, 2013 10:22pm Apr 8, 2013 10:22pm
Quoting mangaradja
enough bartender (closed one@ 1.2997)
sorry late to post, busy managing 3 laptop 5 accs and my family came in..one another closed @ 1.2993 and make a long since tree crown should be occurred and now all closed, ciao
  • #66,920
  • Apr 8, 2013 10:52pm Apr 8, 2013 10:52pm
Quoting EuroTraderJD
Thanks Bro
UW!
Life is beautiful the way you dress it.
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