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  • #797,341
  • May 14, 2013 2:01am May 14, 2013 2:01am
Quoting kewell
It now keeps retest 1.2998 ~ 1.3000 and doesn't break to low. Will it break now or retest the high 1.3030 now ?? Please advise
If we knew what the future of this chart will be, we'd be all rich man.

Have a look at the chart. Either go long with a tight stop below the lows, or wait for a break down.

So far there is no bearish reversal setup.
If it dips down i'll buy more

For now i want to see what they will do above 1,3020
COT: The precious data ignored
  • #797,342
  • May 14, 2013 2:14am May 14, 2013 2:14am
Quoting kuroro001
{quote} If we knew what the future of this chart will be, we'd be all rich man. Have a look at the chart. Either go long with a tight stop below the lows, or wait for a break down. So far there is no bearish reversal setup. If it dips down i'll buy more For now i want to see what they will do above 1,3020
Alright, thanks citizen and kuroro and all
  • #797,343
  • May 14, 2013 2:16am May 14, 2013 2:16am
Going sideline...couple of sellers just appeared.

Waiting for the ZEW now.
COT: The precious data ignored
  • #797,344
  • May 14, 2013 2:21am May 14, 2013 2:21am
Quoting kuroro001
{quote} Trading news with EU is a tricky stuff, with the yen it's another story. It's my own opinion, it's not an advice to stop as i don't really mind what others are doing, but to me it implies everyone. Now if you can prove me trading intradays news work, without looking at a chart (too easy if you look at levels) i'll change my opinion. I only believe what i see
Oh, I see - I didn't realise you were talking about looking at the economic number itself and interpreting it so as to predict future price movement. In fact I don't know why anyone with more than a couple of months experience, in the retail arena, would attempt that.
  • #797,345
  • May 14, 2013 2:28am May 14, 2013 2:28am
Good morning, or whatever you have.

Some intraday news traders paying for bloomberg datafeed here? Ha. Ha.

Gl today,

T
"I know one thing, that I know nothing." Sokrates
  • #797,346
  • May 14, 2013 2:32am May 14, 2013 2:32am
Here we go.
  • #797,347
  • May 14, 2013 2:32am May 14, 2013 2:32am
Quoting mohan76
{quote} i couldn't hold on to my sort , my finger always going after buy button , next year i will take holiday may be visit u ps: as usual on bull side
Yes come for holiday, in May is good time to visit, defend open, switch off platform, come back June, and look for Bull train, twin sister is very similar to aussie
Problem is if Kiwi take a May Bashing, probably Aussie will too, so no benift in exchange rates
"But" if you selled either Aussie or Kiwi, go on holiday, if May Trade play out, holiday paid, retrurn is better than flat exchange rate, "free holiday"

Eu was little different, May Open -
Day 1 she printed a nice inverted hammer or pin
Day 2 bear smacked her down vertical 200pips, next 4 days bulls clawed there way back to May Open
5th day bear again smacked her down
6th Day smacking continued all up another 240 pips both vertical dives
7th Day spinning top or almost doji
Today Bull fighting for traction, 1 3000 is key, if bulls cant hold, they could be in for another smack down,

Right now is in a noisy battle zone, trade it own risk, very good chane of ping pong without a decent move from 1 3000 either up or down, I prefer down, and happy to wait patiently see how this level play out,
If you are new to Forex? Say Goodbye to your account!!
  • #797,348
  • May 14, 2013 2:33am May 14, 2013 2:33am
Quoting KiwiTrada
{quote} oops forgot train now I post will probably bounce, but damage has been done, PB,ed and micro managing, {image}
so classic
  • #797,349
  • May 14, 2013 2:33am May 14, 2013 2:33am
Quoting cdndollar
Nice analysis RsX.. in contrast to our Killer friend screaming his bearish views here.. Not sure about ... Usually mm are aligned in opposition to the conventional crowd...
Thanks. To clarify on that H&S + market makers talk - most juice (extended squeezes, relentless trend moves, etc) comes out of prior failed moves, i.e. failures of large, obvious patterns. I believe it's because the large patterns, as they complete and signal (break), induce enough one-sided liquidity (either supply or demand, depending on pattern) for institutions - they need it to fill positions to the opposite side. So i.e., the H&S signals short, most traders sell into it, what's left is only the institutions buying, driving the price up, until and through various stop clusters. The "juice" in fact comes from these stop clusters getting run and/or most of everybody covering sooner or later, higher or lower, as the market reverses and forcefully fails the pattern.

But, the pattern's obviousness eg it's full completion and break is the key - only that will draw enough large groups of traders acting in the same direction. So until it's complete and signalling, market's a lot more varied in biases - that's why I said it "needs" to complete the pattern. So I'll try to rephrase - market makers are eyeing the developing H&S pattern, because as it completes, most of everybody will take downside action, which provides enough liquidity for institutions to buy, and sets the stage ("fills the tank") for the extended upside move, by clustering stops and emotional max pain levels above the market - above the neckline, the right shoulder, the 50% line.. whatever.

So in a way, I believe insti's are currently driving the price towards the full pattern. Just my theory and may seem uber-conspirative - but market's are rigged that way - we've all seen it - since obviously that's the most efficient behaviour.. max pain for the masses.

I do agree with the chart, though, in terms that if we break ~3100, odds tilt in favor of the upside. Downside odds already start to diminish if price crosses ~3060, so I'll already be careful with shorts.
Patience, persistence and probabilities.
  • #797,350
  • May 14, 2013 2:33am May 14, 2013 2:33am
long from 1.2985
  • #797,351
  • May 14, 2013 2:34am May 14, 2013 2:34am
Quoting citizen1981
{quote} I will look for reverse from any up move from 1.3005 to 1.3026 to go short.
And it droped...and I missed it, too fast for me. I am waiting for second chance to jump in.
  • #797,352
  • May 14, 2013 2:35am May 14, 2013 2:35am
Gm all!

I'm trying a mini-long here to the top!
  • #797,353
  • May 14, 2013 2:36am May 14, 2013 2:36am
It may retest 1.29960 and dip again.
  • #797,354
  • May 14, 2013 2:36am May 14, 2013 2:36am
If bears best 1.2990 I see 1.296 and 1.2947 next
  • #797,355
  • May 14, 2013 2:37am May 14, 2013 2:37am
Quoting citizen1981
{quote} And it droped...and I missed it, too fast for me. I am waiting for second chance to jump in.
1,3010/15 sellers appears.

Chickened out and didn't take the trade as well.

I guess i won't trade before ZEW unless there is a good opportunity
COT: The precious data ignored
  • #797,356
  • May 14, 2013 2:37am May 14, 2013 2:37am
beware the Frankfurt fakey
  • #797,357
  • May 14, 2013 2:39am May 14, 2013 2:39am
Quoting RsX
For Mon-Tue, looking for intraday short setups, once market hits 3020-3030 zone - that's the lowest area of interest. Most preferred scenario for short signals is, if revisits above Friday's high, retracing into the 3055-3070 area - and meets supply there. 1st multiday target ...

Market's hitting some valid intraday resistance at that prementioned 3020-30 zone... I've got no proper patterns intraday though, would still like to see the "sweet spot" eg the 2nd zone higher getting tested.
Patience, persistence and probabilities.
  • #797,358
  • May 14, 2013 2:40am May 14, 2013 2:40am
Quoting DNTme
{quote} Took long 2974 for 3045

Got my 50 pips

Running short EJ ..+40 and counting
fokyou forexfactory
  • #797,359
  • May 14, 2013 2:41am May 14, 2013 2:41am
Hello

Everybody happy

man its bouncing around

Keep thinking if everybody is shorting this pair

like playing chess at the moment
  • #797,360
  • May 14, 2013 2:44am May 14, 2013 2:44am
Quoting vankola
Gm all! I'm trying a mini-long here to the top!
Out with small profit.... after all it's ZEW day...
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