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  • #17,521
  • Jul 9, 2013 3:56am Jul 9, 2013 3:56am
Based on the 30m big price data chart we are nicely going down. Elliott wave count show that we already complete blue wave 1,2 and now we are in blue wave 3.

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In 30m chart with few price data we can see that we are in green wave 2. already complete wave a and now going down to complete wave b. support at 1.2845 to 1.2853. then we will again go up 5 wave to complete wave c and green wave 2.


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Trend Is Friend
  • #17,522
  • Jul 10, 2013 3:40am Jul 10, 2013 3:40am
After the move from yesterday we have a situation when market is waiting for FOMC for next advancement. Logically after the touch of 2835 market would need to dip at least to 2790 but we need to enter carefully due to FOMC and bond auction later in the evening, for first attempt for entry stops should be logically placed just above 2835. The next major intraday target should be 2740 before 2700 retest, but if we follow the path 2675 is also coming close.

If 2835 breaks to the upside then we have bigger retracement and 2860 should be watched for a possible additional entry.

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  • #17,523
  • Jul 10, 2013 2:02pm Jul 10, 2013 2:02pm
Quoting egkid
Where are the smile faces on ff it's disappear !! :-( Wake up guys where are u here it's something to spicy up the thread PA going UP UP nice retracement the question from where u will take sell Limit :-) I put my bet already
"the question from where u will take sell Limit" Sell limit didn't hit yet LOL
  • #17,524
  • Jul 10, 2013 2:19pm Jul 10, 2013 2:19pm
if it breaks 3080 area, then things will be interesting. draghi will need to cut again next month i reckon

Quoting pipper
might take a punt at 2950, then 1.3070 EK hoping to see 2950 before wednesday and possibly more after fed need to see how wednesday pans out nice daily engulfing today too and hoping for 3 bulish white soldiers on the 8hr http://fxwords.com/saving/bullish-th...ndlestick.html {quote} {image}
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Disclaimer: Check your 1m charts
  • #17,525
  • Jul 10, 2013 2:38pm Jul 10, 2013 2:38pm
Quoting pipper
if it breaks 3080 area, then things will be interesting. draghi will need to cut again next month i reckon {quote} {image}
Hope you don't mind , I add something to ur chart

catch u tomorrow
Attached Image
  • #17,526
  • Jul 10, 2013 2:44pm Jul 10, 2013 2:44pm
nice EK have a good evening mate

Quoting egkid
{quote} Hope you don't mind , I add something to ur chart catch u tomorrow {image}
Disclaimer: Check your 1m charts
  • #17,527
  • Jul 10, 2013 2:45pm Jul 10, 2013 2:45pm
Quoting egkid
{quote} "the question from where u will take sell Limit" Sell limit didn't hit yet LOL
I answered the question on previous chart
:-)
  • #17,528
  • Jul 10, 2013 3:55pm Jul 10, 2013 3:55pm
I have been watching the move. I wont fade nothing now, as I said FOMC can be very volatile. 400 pips today. I cant remember such a volatility except ECB interventions. This is gonna hit 3200.
  • #17,529
  • Jul 11, 2013 2:34am Jul 11, 2013 2:34am
Yesterday's price action was strictly driven by FOMC and Bernanke speech. That is why i dont trade during such a strong news events. Today we have a possibility to sell into rallies with a target of 2930. I am not sure if it will be achieved today or tomorrow but technically we could achieve it. Ill show a chart later.
  • #17,530
  • Jul 11, 2013 3:54am Jul 11, 2013 3:54am
Quoting T@rantula
Yesterday's price action was strictly driven by FOMC and Bernanke speech. That is why i dont trade during such a strong news events. Today we have a possibility to sell into rallies with a target of 2930. I am not sure if it will be achieved today or tomorrow but technically we could achieve it. Ill show a chart later.
Break of 3150 targets 3250. 3150 could be sold for 2930, ATR is big. 3030 is initial retracement and if technicals are respected 3150 should be reached first.

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  • #17,531
  • Jul 11, 2013 5:51am Jul 11, 2013 5:51am
Hmm it seems a sell off has started a bit earlier. 3075 was the level to short...3150 missed. I think the target is 2930.
  • #17,532
  • Jul 11, 2013 6:07am Jul 11, 2013 6:07am
Its very important to say why 2930 should be the target. Moves like yesterdays are not TECHNICAL. They are strictly NEWS driven as traders closed USD long positions that was also a stop grabbing. Closing of USD longs+ Stop grabbing led the price to 3206. 2930 is the level where EURUSD jumped so I think we should technically reach the level today, tomorrow or on Monday.
  • #17,533
  • Jul 11, 2013 6:23am Jul 11, 2013 6:23am
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  • #17,534
  • Jul 11, 2013 10:13am Jul 11, 2013 10:13am
Quoting T@rantula
I have been watching the move. I wont fade nothing now, as I said FOMC can be very volatile. 400 pips today. I cant remember such a volatility except ECB interventions. This is gonna hit 3200.
What a day !!Me also trading for about 5 years never seen such a daily move 430 on my daily !!
they want to kill small traders fuckers
i will collect about 1000 pip then I'm out of this business leave it for Fucking sharks

MM save me yesterday but of course lost some position for long term!
  • #17,535
  • Jul 11, 2013 10:37am Jul 11, 2013 10:37am
Quoting egkid
{quote} What a day !!Me also trading for about 5 years never seen such a daily move 430 on my daily !! they want to kill small traders fuckers i will collect about 1000 pip then I'm out of this business leave it for Fucking sharks MM save me yesterday but of course lost some position for long term!

Hi Egkid,

I was very lucky yesterday to not have a position open. Over the last months we only had kind of low ATR's, so such a sudden shoot up was in no way anticipated. And when one thinks about the timing: half of the move was made when all the big sharks where at home (after 21 GMT).

Such moves should us remind to be very carefully, everytime. T. is right to avoid trading on FED, etc. days. Will consider that definitively now, too. No need to expose one self to higher risk than necessary.


What will you trade alternatively to Forex?
  • #17,536
  • Jul 11, 2013 5:42pm Jul 11, 2013 5:42pm
Quoting egkid
{quote} What a day !!Me also trading for about 5 years never seen such a daily move 430 on my daily !! they want to kill small traders fuckers i will collect about 1000 pip then I'm out of this business leave it for Fucking sharks MM save me yesterday but of course lost some position for long term!

Hey EG, no need to go out of the business. You are a hell of a trader, very talented and smart. Just leave them sharks fight. DOnt trade during volatile hours. We will be smarter and stay out of trouble.
  • #17,537
  • Jul 11, 2013 5:44pm Jul 11, 2013 5:44pm
Quoting infinitus
{quote} Hi Egkid, I was very lucky yesterday to not have a position open. Over the last months we only had kind of low ATR's, so such a sudden shoot up was in no way anticipated. And when one thinks about the timing: half of the move was made when all the big sharks where at home (after 21 GMT). Such moves should us remind to be very carefully, everytime. T. is right to avoid trading on FED, etc. days. Will consider that definitively now, too. No need to expose one self to higher risk than necessary. What will you trade alternatively to Forex?
Today was also a relatively hard day. First the price didnt manage to go to 3150, it was rejected 4 times off the 3075 then failed to go below 3005, so im not sure whether its gonna hit 2930. SO far it looks like its gonna hit 3150 and maybe go for 3250 but tbh technically it should reach 2930..We will see. I am careful.
  • #17,538
  • Jul 12, 2013 4:29am Jul 12, 2013 4:29am
Hey guys, same situation as yesterday. I will look to sell into rallies. Well 3150 hasnt been reached yesterday, it went just above 3120 but i wasnt there to sell it . We will see. H4 is bearish , lets wait for USD data release. Levels to watch for 3065 3100, 3120, 3150.
  • #17,539
  • Jul 15, 2013 2:37am Jul 15, 2013 2:37am
As we can see today EURUSD is having a consolidation in a triangle and its close to its vortex. Two important levels to watch for are 2985 and 3075. Interim levels are 3010 and 3050. Above 3075 targets are 3110 and 3150, below 2985 are 2930 and 2890. H4 is bearish, H1 also turned bearish, I will look to sell into rallies.

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You can also read the analysis on my Forex Blog.
  • #17,540
  • Jul 15, 2013 6:54am Jul 15, 2013 6:54am
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