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  • #201
  • Nov 17, 2013 6:43am Nov 17, 2013 6:43am
My share on UJ i posted earlier

100.11 area im my view will be next to watch, the Support of 60.8% Fibbo Fan all way from the last jump of 97.67 area...

its a expanding dia and market is clustering around these prices as its approaching on insignificant PA for a clear drive, its either a up move cross towards 101 or a dive on this area. Imm pa lvls on below will be 99.4 and 98.6 area respectively in my view....

Just my views once again... tentatively prices are as such so far so good...

I maybe wrong too, hence just for reference...
Sincerely Yours Cheers!
  • #202
  • Edited 7:20am Nov 17, 2013 7:03am | Edited 7:20am
Quoting DingDongWay
My share on UJ i posted earlier 100.11 area im my view will be next to watch, the Support of 60.8% Fibbo Fan all way from the last jump of 97.67 area... its a expanding dia and market is clustering around these prices as its approaching on insignificant PA for a clear drive, its either a up move cross towards 101 or a dive on this area. Imm pa lvls on below will be 99.4 and 98.6 area respectively in my view.... Just my views once again... tentatively prices are as such so far so good... I maybe wrong too, hence just for reference...

Adding on to the above to support my bias of it tentatively, if you guys came cross 'Double-Three combination (Running variation)' and do a comparison of it to H1.

The areas which i listed out might be interesting in my view for intra-day trades buy/sell trades.. Shall update on this once market opens.

As for the top now will be x:3, and i deemd the wick at 100.10 as a:3. We're either in the path to b:3 or hitting a bottom of c:3. Either way, we might be landing in a range in my view ready for a breakout to the higher top...

i might be wrong about it too.. but till then i will see where i went wrong...
Sincerely Yours Cheers!
  • #203
  • Nov 17, 2013 8:45am Nov 17, 2013 8:45am
Impressive analysis, Ding. I find the current Yen scenario as straight up bull move, here's why.

Everyone and their mother was watching the triangle build up on the weekly and daily charts. We broke out of it with some force. When this situation occurs you have the crowd who agrees the move is bullish but is waiting for a retest of the breakout area to act as support. Over the years I have noticed that when a move like this occurs, if you do not retest the breakout area within the first 24 -48 hrs it is usually a straight up bull move.

Also when everyone wants to be long and is praying for dips, you don't get them. Don't get me wrong. I am long and want it to pullback as well but I just don't see it happening. The consolidation for the last 4 months was your time to accumulate longs imo.

But as with all things in trading no one knows for sure
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  • #204
  • Nov 17, 2013 8:49am Nov 17, 2013 8:49am
On the eur/usd front, we had ECB's Praet over the weekend say they have options even with the interest rate at zero. Hinting that another rate cut may very well happen. The Euro has been propped up over the last 6 months even with all the bearish eurozone data. When something is held up by nothing the drop can be blindingly fast. Just have patience
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  • #205
  • Nov 17, 2013 9:00am Nov 17, 2013 9:00am
I cannot agree more on this, Ian. Almost everyone is expecting a drop of UJ thinking : this went too far, it must take a breath. So far we had stealth move, consolidation and now breaking up from consolidation pattern. If this is not a bullish picture and UJ falls down to 96, I'd say that there are new rules in TA. About euro I already said enough and to resume: EU especially France are begging for weaker euro, more than US want weaker dollar.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #206
  • Nov 17, 2013 5:13pm Nov 17, 2013 5:13pm
UJ - er fährt sehr gut

just practicing, I've started learning German language two weeks ago.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #207
  • Nov 17, 2013 5:51pm Nov 17, 2013 5:51pm
Quoting bikov
UJ - er fährt sehr gut just practicing, I've started learning German language two weeks ago.

I don't know German but in English I believe it means, TP110 , right? bhahaha

Kudos on learning another language!
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  • #208
  • Nov 17, 2013 6:01pm Nov 17, 2013 6:01pm
Quoting BobGnarly
{quote} I don't know German but in English I believe it means, TP110 , right? bhahaha Kudos on learning another language!

yes, it means UJ drives good. of course there would be some pullback but it's part of the game, to make it more interesting.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #209
  • Nov 17, 2013 7:10pm Nov 17, 2013 7:10pm
I posted Eur/Cad last week and it looks like a very good weekly swing trade, Closing below the 200 H4 MA. Look for a target price in the high 1.38 area, If price manages to blow thru the major H4 support I will Move stop to that area and see if we get a runner. If not we still get a nice 200 pips
Attached Image (click to enlarge)
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  • #210
  • Nov 17, 2013 7:18pm Nov 17, 2013 7:18pm
I was more looking at gbp/cad which found resistance at 1.69 and now ready to dive as it looks ( it's still an up trend but exhausted). I think the same could be said for eur/cad where the picture is more bearish.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #211
  • Nov 17, 2013 7:24pm Nov 17, 2013 7:24pm
Quoting bikov
I was more looking at gbp/cad which found resistance at 1.69 and now ready to dive as it looks ( it's still an up trend but exhausted). I think the same could be said for eur/cad where the picture is more bearish.

I See eur much weaker than gbp, but if the cad strength is tough then gbp/cad might also be a good short.
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  • #212
  • Nov 18, 2013 5:56am Nov 18, 2013 5:56am
Audnzd is amazing at the 1.12 handle, squeaked a few pips below and like last time a strong rebound. The euro is being annoying as usual. A global disaster in Europe wouldn't bring it down. Had a little dip to buy some more UJ.

Well besides that no new positions to talk of. Trade safe guys!
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  • #213
  • Nov 18, 2013 6:03am Nov 18, 2013 6:03am
Quoting BobGnarly
Audnzd is amazing at the 1.12 handle, squeaked a few pips below and like last time a strong rebound. The euro is being annoying as usual. A global disaster in Europe wouldn't bring it down. Had a little dip to buy some more UJ. Well besides that no new positions to talk of. Trade safe guys!
Agreed Ian, anyway im shorting E/A and buying U/Cad. this two pairs seems interesting too.
Sincerely Yours Cheers!
  • #214
  • Nov 18, 2013 9:26am Nov 18, 2013 9:26am
somehow I feel that this was a final push up for eur/usd.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #215
  • Nov 18, 2013 10:03am Nov 18, 2013 10:03am
Quoting bikov
somehow I feel that this was a final push up for eur/usd.
Was just going to say that! Lol. I'm out of my office today but I've been buying uj on every dip we had to 90. Did that about 4x's today and then sold at 00 . I still hold my longs but it's fun to scalp a few. That's why I just got the galaxy note 3. Perfect for mobile trading
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  • #216
  • Nov 18, 2013 10:19am Nov 18, 2013 10:19am
I 3rd that. It's just a gut feeling, but nothing fundamentally or even technically is making sense in my head for us being where we are.
  • #217
  • Nov 18, 2013 10:35am Nov 18, 2013 10:35am
Why do you think eur/usd is marketed as the main trading currency pair with the lowest spread. For noobs to lose their shirt. My first year and a half of fundamental analysis just didn't make sense. Eur/usd is the worst pair anyone could trade. I have a short open and thats only about the 3rd trade all year on eur/usd. It's nothing but price fixing and stop hunts. Maybe I'm crazy lol but I try avoiding it at all costs.
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  • #218
  • Nov 18, 2013 10:43am Nov 18, 2013 10:43am
Interesting. From everything I read, the eurozone is falling apart. The ECB makes a surprise rate cut, the ending of QE is on the table and we're trending upwards ? I can be very hard to distinguish fundamentally what is happening in two countries, but this isn't rocket science. This monster should be headed down. What are the main pairs you trade Bob ?
  • #219
  • Nov 18, 2013 10:55am Nov 18, 2013 10:55am
Quoting BobGnarly
Why do you think eur/usd is marketed as the main trading currency pair with the lowest spread. For noobs to lose their shirt. My first year and a half of fundamental analysis just didn't make sense. Eur/usd is the worst pair anyone could trade..

I agree on that, although maybe there's something logical about this up trend of the single currency: EU surplus; huge amount of cash pouring into EU from em.markets.. But besides that, I'm still not confident that this is "a fair price" of euro. I know, a fair price is a matter of subjective observation but if I should vote for the most overvalued currency, it would be euro ( and maybe CHF ).
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #220
  • Nov 18, 2013 12:19pm Nov 18, 2013 12:19pm
Quoting britc17
Interesting. From everything I read, the eurozone is falling apart. The ECB makes a surprise rate cut, the ending of QE is on the table and we're trending upwards ? I can be very hard to distinguish fundamentally what is happening in two countries, but this isn't rocket science. This monster should be headed down. What are the main pairs you trade Bob ?



I like big swings and trends so most of my trading is on the yen crosses. But currently I see the Eur as a screaming Sell so therefore I have a trade on it.
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