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EURUSD

  • #839,941
  • Oct 2, 2013 10:04am Oct 2, 2013 10:04am
H4 now closed, well inside 3580-3600... below prior high. Long upper wick. Also on H4, 3 consecutive slight ("weak") HH-s.

Bulls tighten up..

EDIT: updated visual, to go along with that.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2013-10-02_baseline_img2_3HHs_keyzone_ihammer_downtargets_clean_240min.png Size: 181 KB
Patience, persistence and probabilities.
  • #839,942
  • Oct 2, 2013 10:10am Oct 2, 2013 10:10am
Quoting salman14
{quote} Bull+bear= Pig (Bull+Bear) +pig = bull+(bear+pig) When you multiply …..( bull+bear)*pig = Bull *(bear*pig)
Attached Image
  • #839,943
  • Oct 2, 2013 10:12am Oct 2, 2013 10:12am
Quoting Ken A
{quote} {image}
  • #839,944
  • Oct 2, 2013 10:13am Oct 2, 2013 10:13am
On my chart i have these levels

Attached Image (click to enlarge)
Click to Enlarge Name: euro.png Size: 34 KB
  • #839,945
  • Oct 2, 2013 10:16am Oct 2, 2013 10:16am
Quoting Forexia
{quote} Yes I am long in EU. I guess I forgot to include it in my previous statement. I hope this helps you a bit.
Of course this too obvious explanation didn't occur to me. I looked for a deeper motivation
  • #839,946
  • Oct 2, 2013 10:31am Oct 2, 2013 10:31am
Just 2 more hours. Hang in there.
Make your losses in demo. Earn your profits live.
  • #839,947
  • Edited 10:50am Oct 2, 2013 10:37am | Edited 10:50am
Quoting flofri
{quote} Of course this too obvious explanation didn't occur to me. I looked for a deeper motivation
Regardless I do see EU going up, the 3:30 pm Bernake comment will hopefully give it a big push although it does become doubtful at times with Draghi confirming a long-term accommodative low interest rate monetary policy. Usually that would put downward pressure on a currency. But I guess this time the market focused more on EU's 2nd quarter growth as a positive sign and plus the US government being shut down helped.
Make your losses in demo. Earn your profits live.
  • #839,948
  • Oct 2, 2013 10:47am Oct 2, 2013 10:47am
I'm thinking a lot about shorting now....but what worry me is that 1,365x weekly open.

So better wait...

PA shows some interesting area at 1,356x and 1,3540...below that the low should be challenged.
COT: The precious data ignored
  • #839,949
  • Oct 2, 2013 10:51am Oct 2, 2013 10:51am
Quoting Forexia
{quote} Regardless I do see EU going up, the 3:30 pm Bernake comment will hopefully give it a big push although it does become doubtful at times with Draghi confirming a long-term accommodative low interest rate monetary policy being in place. Usually that would put downward pressure on a currency. But I guess this time the market focused more on EU's 2nd quarter growth as a positive sign and plus the US government being shut down helped.

what happens if he mentions congress's ability to do nothing. look at next weeks employment figures with the amount of gov employes not picked up by last weeks #s or adp. that will show up next week, unless they solve it this week ..its already going to be reflected in hours worked. for each gov employee affected there is a multiplier in non gov employees.
those who can, do. those who cant, talk about those who can
  • #839,950
  • Oct 2, 2013 10:55am Oct 2, 2013 10:55am
Quoting gatorinla
{quote} what happens if he mentions congress's ability to do nothing. look at next weeks employment figures with the amount of gov employes not picked up by last weeks #s or adp. that will show up next week, unless they solve it this week
Which keeps it interesting. Now detach from it all, take a deep breath and look again
  • #839,951
  • Oct 2, 2013 10:55am Oct 2, 2013 10:55am
Quoting kuroro001
I'm thinking a lot about shorting now....but what worry me is that 1,365x weekly open. So better wait... PA shows some interesting area at 1,356x and 1,3540...below that the low should be challenged.
because this trend line
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 22 KB
? ...so why not ?
  • #839,952
  • Oct 2, 2013 10:59am Oct 2, 2013 10:59am
Quoting flofri
{quote} Which keeps it interesting. Now detach from it all, take a deep breath and look again

no
those who can, do. those who cant, talk about those who can
  • #839,953
  • Oct 2, 2013 11:00am Oct 2, 2013 11:00am
Quoting gatorinla
{quote} what happens if he mentions congress's ability to do nothing. look at next weeks employment figures with the amount of gov employes not picked up by last weeks #s or adp. that will show up next week, unless they solve it this week
Well that would be the sort of the comments that I would be hoping for as I think it will really push the greenback down and prop up the fiber up and way up, judging from the +ve market reaction to the ECB's accommodative low interest rate policy announcement. The amount of federal employees out of work was to be into the hundreds of thousands.

My 2 cents. It awaits to be confirmed/denied by the market.
Make your losses in demo. Earn your profits live.
  • #839,954
  • Oct 2, 2013 11:02am Oct 2, 2013 11:02am
Quoting Miguel.N
{quote} because this trend line{image} ? ...so why not ?

break
those who can, do. those who cant, talk about those who can
  • #839,955
  • Oct 2, 2013 11:04am Oct 2, 2013 11:04am
Quoting Forexia
{quote} Well that would be the sort of the comments that I would be hoping for as I think it will really push the greenback down and prop up the fiber up and way up, judging from the +ve market reaction to the ECB's accommodative low interest rate policy announcement. The amount of federal employees out of work was to be into the hundreds of thousands. My 2 cents. It awaits to be confirmed/denied by the market.

and if he says nothing about it, it dont change.
those who can, do. those who cant, talk about those who can
  • #839,956
  • Oct 2, 2013 11:04am Oct 2, 2013 11:04am
Quoting Miguel.N
{quote} because this trend line{image} ? ...so why not ?
Thanks for the chart

I don't look at trendline so it's not because of it.

It's more about the fact everytime we hit new highs there is either a sell off or no follow through (like now)
I may short the spike up if it happens or wait for a good setup tomorrow
COT: The precious data ignored
  • #839,957
  • Oct 2, 2013 11:11am Oct 2, 2013 11:11am
Quoting fxmasterdxb
hello fellow traders, I have taken two positions few moments back, first one EUR/USD short @ 1.3599, SL @ 1.3630 and TP @ 1.3565 based on the trend line shown in the attached. Second position is USD/JPY long @ 97.27, SL @ 97.00 and TP @ 97.66 as the trend line (drawn in yellow) has been providing a decent resistance so far as show in the attached. Good Luck all! {image} {image}
Both positions closed manually, not liking the PA! UJ @ 97.50 & EU @ 1.3580
  • #839,958
  • Oct 2, 2013 11:16am Oct 2, 2013 11:16am
Quoting Forexia
{quote} Well that would be the sort of the comments that I would be hoping for as I think it will really push the greenback down and prop up the fiber up and way up, judging from the +ve market reaction to the ECB's accommodative low interest rate policy announcement. The amount of federal employees out of work was to be into the hundreds of thousands. My 2 cents. It awaits to be confirmed/denied by the market.
How much will the furloughing of a reported 815,932 federal government employees, or 18.5% out of its estimated total of 4.4 million employees,

next week they are eligible for unemployment.. some will get food stamps and few will be able it sustain current spending... so that and the usdx being back under 80.. is not looking too good atm// ...the threshold for the 2008 crash was crossing the 80.39 line.. so congress may have sparked another 2008

its 800k + a multiplier

after the shock, when the u.s. catches a cold, Europe catches phenomena.
this is a dangerous game they play,
those who can, do. those who cant, talk about those who can
  • #839,959
  • Oct 2, 2013 11:17am Oct 2, 2013 11:17am
Quoting kuroro001
{quote} Thanks for the chart I don't look at trendline so it's not because of it. It's more about the fact everytime we hit new highs there is either a sell off or no follow through (like now) I may short the spike up if it happens or wait for a good setup tomorrow
typical ny play... they break a level by a bit, and then they just sit on it for hours, enough to piss everybody off..
  • #839,960
  • Oct 2, 2013 11:18am Oct 2, 2013 11:18am
Quoting kuroro001
{quote} Thanks for the chart I don't look at trend-line so it's not because of it. It's more about the fact everytime we hit new highs there is either a sell off or no follow through (like now) I may short the spike up if it happens or wait for a good setup tomorrow
you are right, now euro may stay around here and maybe asia will push a bit up, so we'll see tomorrow !?
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