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  • #18,021
  • Dec 10, 2013 6:55am Dec 10, 2013 6:55am
3783 has been breached, 3804 has been exposed now
  • #18,022
  • Dec 10, 2013 7:23am Dec 10, 2013 7:23am
This is where we got short setups ( yesterday's webinar ) around 3750-60. 12-20 pips could have been made prior to BE trade and failure of the wedge. We can see that 3739 perfectly held the drop until next leg up. Compare the level table with charts and u can see the accuracy.

The wedge has still more room to go up. ATR stop is above 3806 so lets see.
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  • #18,023
  • Dec 10, 2013 7:58am Dec 10, 2013 7:58am
L3 and H3 rejecting the price now ( 3788 cam and l3 my levels). 3665 now. 3660 is Asia res level, now we might get a jump from 3665-60.
  • #18,024
  • Dec 11, 2013 12:58am Dec 11, 2013 12:58am
The wedge that has been formed has not been broken and now we see a channel on H1 TF and possible setups. You could have already seen that 3739 is a strong levels . Break of that level targets 3730 then 3703 and we need to monitor it. On the other side 3785 is a strong resistance where the break of yesterdays high will target 3806 then 3825. Head and Shoulder pattern has been formed on H1 and only a break of 3739 will bring the price down.

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  • #18,025
  • Dec 11, 2013 2:52am Dec 11, 2013 2:52am
3750 is interim support now. 3740 is intraday support so longs are traded above. Resistance at 3772 holds the zobe with 3785, so the break of those levels could probably collect some stops and give additional momentum.
  • #18,026
  • Dec 11, 2013 3:26am Dec 11, 2013 3:26am
Quoting T@rantula
3750 is interim support now. 3740 is intraday support so longs are traded above. Resistance at 3772 holds the zobe with 3785, so the break of those levels could probably collect some stops and give additional momentum.

First target is 3820.. Still looking for 3975.. We can fall as everything is overbought but as I said at 3832.. 3832 is not the top for this major cycle
  • #18,027
  • Dec 11, 2013 3:31am Dec 11, 2013 3:31am
Quoting jaylovin
{quote} First target is 3820.. Still looking for 3975.. We can fall as everything is overbought but as I said at 3832.. 3832 is not the top for this major cycle
WOuld be good to reach it today and break of 3785 could give us that.
  • #18,028
  • Dec 11, 2013 5:35am Dec 11, 2013 5:35am
Quoting jaylovin
{quote} First target is 3820.. Still looking for 3975.. We can fall as everything is overbought but as I said at 3832.. 3832 is not the top for this major cycle
If 3820 becomes support i agree 3975 is the target then
  • #18,029
  • Dec 11, 2013 7:40am Dec 11, 2013 7:40am
3780 has been broken but ys high rejected the price. Look how accurate CAMMACD is.
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  • #18,030
  • Dec 11, 2013 7:51am Dec 11, 2013 7:51am
And I call this SECOND CHANCE pattern. The price got rejected off again ( bullish pattern ). It will probably try again to go for 3800.

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  • #18,031
  • Dec 11, 2013 7:56am Dec 11, 2013 7:56am
Quoting T@rantula
And I call this SECOND CHANCE pattern. The price got rejected off again ( bullish pattern ). It will probably try again to go for 3800. {image}

Here it comes 3800 touched! 10 minutes after it made 2nd chance patt.

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  • #18,032
  • Dec 11, 2013 8:03am Dec 11, 2013 8:03am
Today ,I will be holding a FREE special webinar about using PP with ranges and breakouts and trends, and I will also use these patterns for examples. You can sign up HERE.
  • #18,033
  • Dec 11, 2013 8:53am Dec 11, 2013 8:53am
Have a feeling this will crawl up to 1.4 without stop. I expected 360 or better 3550 to be tested first and not a straight rise from last week...
  • #18,034
  • Dec 11, 2013 8:56am Dec 11, 2013 8:56am
Quoting Vladimir1987
Have a feeling this will crawl up to 1.4 without stop. I expected 360 or better 3550 to be tested first and not a straight rise from last week...
That is why i suggested BREAKOUT trading today. Look at the analysis, one of the reasons is - no retracement.
  • #18,035
  • Dec 11, 2013 10:23am Dec 11, 2013 10:23am
N, Great webinar
  • #18,036
  • Dec 11, 2013 10:26am Dec 11, 2013 10:26am
Quoting AlexC
N, Great webinar
Thanks! Needed to prolong the webinar, but I hope it helped.
  • #18,037
  • Dec 12, 2013 2:37am Dec 12, 2013 2:37am
EURUSD reached 3810 as the analysis suggested. As you could see our intraday setups have been really working good so far, but the thing is you need to know when to take intraday setup, a breakout trade or countertrend trade. Yesterday was a nice breakout trade as expected.

Today EURUSD has retraced to 3770 region ( buying zone ) and according to intraweek trend it should be bought somewhere around 3770-65. Drop below 3760 activates M pattern which has been formed on H1 TF and targets 3745 and 3715 subsequently.

Break above 3806 ( just look at eurusd tables ) aims for 3830 region ( conflence ATR and historical level of s/r) and 3850 subsequently.

I dont exclude the jump off 3770 as EURUSD is standing on it at the time of writing.

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P.S. You can also read the analysis on my FX Blog.
  • #18,038
  • Dec 12, 2013 3:25am Dec 12, 2013 3:25am
Pay attention to FF calendar. News time in 2h. I expect some movement then.
  • #18,039
  • Dec 12, 2013 7:09am Dec 12, 2013 7:09am
As we could see, both good setups could have been traded with EURUSD today. Jumps off 3770 and break of 3760 which led the price to 3748. Volatility after US data is high and as my analysis showed 3745 has been a good support. Only a break of 3745 can lead to 3715.
  • #18,040
  • Dec 12, 2013 7:28am Dec 12, 2013 7:28am
The price still looks bullish. Every dip towards 3750 has been bought. As we see 3745 is a good support. Equidistant channel moved to 3ple bottom ( previous target for BO trade where we TPed) and we see a bull flag formed in the channel.

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