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  • #17,261
  • May 29, 2013 7:46am May 29, 2013 7:46am
This is the potential short setup on EURUSD. We can see a lot rejection off 2975 level. Shooting star signals a lack of upward momentum on first attempt, so now the price is trying to close below 2950 and that is 38.2 fib of the MAJOR swing low and natural s/r level. If the rejection proves to be successful we might see a drop to 2920-00 level again. 2990-3000 is also a shorting are as there is a confluence of fibs and 2985 resistance level. Now W 1 2 3 would be successful ONLY if it jumps thru 3000 where I will look for 3030-3045 shorts.

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  • #17,262
  • May 29, 2013 8:04am May 29, 2013 8:04am
Quoting T@rantula
This is the potential short setup on EURUSD. We can see a lot rejection off 2975 level. Shooting star signals a lack of upward momentum on first attempt, so now the price is trying to close below 2950 and that is 38.2 fib of the MAJOR swing low and natural s/r level. If the rejection proves to be successful we might see a drop to 2920-00 level again. 2990-3000 is also a shorting are as there is a confluence of fibs and 2985 resistance level. Now W 1 2 3 would be successful ONLY if it jumps thru 3000 where I will look for 3030-3045 shorts....

Yes now thats a good number . 3045 shorts are too good and can prove for atleast 50points . if pa tests 2880 before breaking 2990 then there is nice chance of bear continuation - but again pa looking bullish for this week and todays move is almost over its just a trap for us session unless some serious buyers take this above 2985 what do you think T - anything left for today .
finding A M S
  • #17,263
  • May 29, 2013 8:06am May 29, 2013 8:06am
Look what I was telling you 2925 testing at the moment.
  • #17,264
  • May 29, 2013 8:10am May 29, 2013 8:10am
Quoting prashant7
{quote} Yes now thats a good number . 3045 shorts are too good and can prove for atleast 50points . if pa tests 2880 before breaking 2990 then there is nice chance of bear continuation - but again pa looking bullish for this week and todays move is almost over its just a trap for us session unless some serious buyers take this above 2985 what do you think T - anything left for today .
What actually happened is stop grabbing above 2950 thats for sure. All weak shorts ( shorts with a tight stop loss) have been cleared. Bull trap definitely as the price went 50 pips down after the initial jump. I hope no one went long at upper levels ( 2960-70). 2925 should stay if the bulls want to go up again.
  • #17,265
  • May 29, 2013 8:10am May 29, 2013 8:10am
Quoting T@rantula
Look what I was telling you 2925 testing at the moment.

Yes you were right as its almost a bull trap going on into us session . one can buy this for scalp at 2924 Good support and exit with 7 to 9 points . as a test of 2941 is due for more bear cont......
finding A M S
  • #17,266
  • May 29, 2013 8:22am May 29, 2013 8:22am
Quoting prashant7
{quote} Yes you were right as its almost a bull trap going on into us session . one can buy this for scalp at 2924 Good support and exit with 7 to 9 points . as a test of 2941 is due for more bear cont......
Yes 2925 is good for scalps. I am looking at 2915-10 zone for swing long entry with targets at 2950 and 2985 20 pip stop.
  • #17,267
  • May 29, 2013 8:38am May 29, 2013 8:38am
Quoting T@rantula
{quote} Yes 2925 is good for scalps. I am looking at 2915-10 zone for swing long entry with targets at 2950 and 2985 20 pip stop.


IT reached 2942 . and 2925 proved to be good scalping support . now hourly close could determine the next moves for pa . possibly 2960 test in this session and consolidation on h1 till the end of the day . as i saw usd /chf it wasn't good at all - bearish candle formation on daily shows some clue of eur usd rebound upto 3120 again ? but not sure yet .
finding A M S
  • #17,268
  • May 29, 2013 8:40am May 29, 2013 8:40am
Quoting prashant7
{quote} IT reached 2942 . and 2925 proved to be good scalping support . now hourly close could determine the next moves for pa . possibly 2960 test in this session and consolidation on h1 till the end of the day . as i saw usd /chf it wasn't good at all - bearish candle formation on daily shows some clue of eur usd rebound upto 3120 again ? but not sure yet .

Yes 2925 has been very good for scalps. Now in 1h we will get some profit taking as London will be getting to a close. If shorts decide to close positions we will be getting a momentum longs indeed.
  • #17,269
  • May 29, 2013 10:07am May 29, 2013 10:07am
Quoting T@rantula
{quote} Yes 2925 is good for scalps. I am looking at 2915-10 zone for swing long entry with targets at 2950 and 2985 20 pip stop.
So actually due to 2925 I missed my entry @ 2915-10 zone but yet again well done to all who did it.
  • #17,270
  • May 29, 2013 10:41am May 29, 2013 10:41am
Quoting T@rantula
{quote} So actually due to 2925 I missed my entry @ 2915-10 zone but yet again well done to all who did it.

the party has now died.. next two days will be volatile... still expecting 3030 area and a new low
  • #17,271
  • May 29, 2013 2:12pm May 29, 2013 2:12pm
Quoting jaylovin
{quote} the party has now died.. next two days will be volatile... still expecting 3030 area and a new low
We will see what Asia gives us. Ill be doing the analysis tomorrow.
  • #17,272
  • May 30, 2013 1:02am May 30, 2013 1:02am
Morning
Now pa 2973 and i want 100 pip today because I Have day off from work
  • #17,273
  • Edited 3:27am May 30, 2013 3:14am | Edited 3:27am
Morning all and EG,

Today I see Inclined Inverted Head and Shoulders on H1 and that should give us the target in the 3030-3040 zone. 2915 is important intraday support while 2940-45 makes interim support. trend has turned bullish intraday so buy into dips is the strategy for today. Also watch 3030-3040 for short setups. We dont want the price to break 3040 with strong momentum.

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  • #17,274
  • May 30, 2013 3:35am May 30, 2013 3:35am
Quoting T@rantula
Morning all and EG, Today I see Inclined Inverted Head and Shoulders on H1 and that should give us the target in the 3030-3040 zone. 2915 is important intraday support while 2940-45 makes interim support. trend has turned bullish intraday so buy into dips is the strategy for today. {image}

  • #17,275
  • May 30, 2013 3:46am May 30, 2013 3:46am
to be honest T i don't wanna see 3030 get hit before monday... this might change the 2663 or even 27xx target altogether and look bullish instead... would much prefer to hit 2882 first and play games till next week...
  • #17,276
  • May 30, 2013 4:43am May 30, 2013 4:43am
Quoting jaylovin
to be honest T i don't wanna see 3030 get hit before monday... this might change the 2663 or even 27xx target altogether and look bullish instead... would much prefer to hit 2882 first and play games till next week...

so 1.3 is gonna happen before next week... next thing to see is it 3030-40 will hold....
  • #17,277
  • May 30, 2013 4:54am May 30, 2013 4:54am
Quoting jaylovin
to be honest T i don't wanna see 3030 get hit before monday... this might change the 2663 or even 27xx target altogether and look bullish instead... would much prefer to hit 2882 first and play games till next week...
It should be reached today as Inverted HS is on H1 TF. Lets see..
  • #17,278
  • May 30, 2013 5:03am May 30, 2013 5:03am
Quoting T@rantula
This is the potential short setup on EURUSD. We can see a lot rejection off 2975 level. Shooting star signals a lack of upward momentum on first attempt, so now the price is trying to close below 2950 and that is 38.2 fib of the MAJOR swing low and natural s/r level. If the rejection proves to be successful we might see a drop to 2920-00 level again. 2990-3000 is also a shorting are as there is a confluence of fibs and 2985 resistance level. Now W 1 2 3 would be successful ONLY if it jumps thru 3000 where I will look for 3030-3045 shorts. {image}...
Dont forget this guys, also look at the chart I posteed yesterday 2990-3000 confluence, thats why is hard to break 3000 with momentum
  • #17,279
  • May 30, 2013 5:24am May 30, 2013 5:24am
Nice sell off of he 3000 confluence area. 2970 reached. It should hold for next swing high...
  • #17,280
  • May 30, 2013 5:33am May 30, 2013 5:33am
Quoting egkid
{quote}@3004


That number was good - 3005 . i usually tend to go with 3022 on bear and 3018 on bull . good going T 3000 sell for 970 - good scalp but that 2985 also stood for asia if you remember .
finding A M S
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