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  • #865,541
  • Dec 23, 2013 1:18pm Dec 23, 2013 1:18pm
Quoting Ken A
E/C found support at 1.4990 so as E/A. Definitely not fun shorting EUR/XXX. E/J is still climbing no way for E/U to retrace.
SNB,RBA,BOJ are all selling their currencies,the Fed did sell theirs too,but lately they have begun to close their shorts(QE tapering) and are taking profit. which is why a divergence is possible between E/U and the rest

to add: I don`t see the E/A buying so high in the near term

pls don`t be offended,itz only my thoughts
  • #865,542
  • Dec 23, 2013 1:22pm Dec 23, 2013 1:22pm
On my BB set up price is still neutral but slightly bullish however this little bull bounce is expected.Generally for every large move 25-40% bounce is expected since price rarely goes straight down or up.
I am bearish to 1.35
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.daily.png Size: 44 KB
In trading, you have to be defensive and aggressive at the same time
  • #865,543
  • Dec 23, 2013 1:26pm Dec 23, 2013 1:26pm
Quoting Ck87
{quote} Well this is H4 chart, I also look at D1 and W1 and Monthly charts, and what I see there is massively overbought momentum. Double top 1.38, Stopped at weekly TL drawn from highs. It doesn't look good. The only thing that concerns me is that the sentiment is pretty bearish and I don't like it when there's a lot of bears, which seems to be the case right now. That is literally the only thing that worries me. If I was a smarter trader I'd be on the sidelines and wait for price to show more confirmation, and then wait for a retrace to sell....
I think you are missing the point that Attila is trying to make

And it's a good one
Money Talks, Bullshit Walks
  • #865,544
  • Dec 23, 2013 1:30pm Dec 23, 2013 1:30pm
Quoting Keyser_Soze
{quote} I think you are missing the point that Attila is trying to make And it's a good one

I see his point and agree that it's a good one. There is no clear trend right now and that's specifically why it's a good point.

To understand how I trade this way I've provided a few examples in my journal in markets that are clearly trending, which is a must to trade this way.

Ignore my recent post about euro downtrend because it's a bias and I'm probably jumping the gun, even though I may be right it's irresponsible to say euro is in a downtrend right now.

http://www.forexfactory.com/showthre...21#post7170421
  • #865,545
  • Dec 23, 2013 1:34pm Dec 23, 2013 1:34pm
Quoting attila
{quote} rite. but my question was how do you play all those conflicting things? add multiple time frames and now you're really screwed.. I'm not making anything out of this, just wondering how is it possible to trade this way..

ya point is clear now. the trade is in the trader and as we know sometimes we can`t really explain our trades...for example;i do run technical analysis for a buy and a sell all on the same pair,just so that i can weigh which is heavier(between buy and sell) and thereafter put on my trade in the direction of the heaviest bias.

but again,as traders,what we so often leave out when we discuss our trades is the horizon of our trades(sometimes we may post a trade setup of a trade we are stalking and waiting for most of our parameters to converge so we can place the trade(which may take some time,ranging from minutes to weeks),but bcos we keep our discussion centered on the technicals involved and leave out the timing,someone on the other end can be very well confused,thinking we have placed the order already or about to do so in the next minute or less)
  • #865,546
  • Dec 23, 2013 1:35pm Dec 23, 2013 1:35pm
Quoting Ck87
{quote} I see his point and agree that it's a good one. There is no clear trend right now and that's specifically why it's a good point. To understand how I trade this way I've provided a few examples in my journal in markets that are clearly trending, which is a must to trade this way. Ignore my recent post about euro downtrend because it's a bias and I'm probably jumping the gun, even though I may be right it's irresponsible to say euro is in a downtrend right now. http://www.forexfactory.com/showthre...21#post7170421

Keep in mind that you are the only one understands your charts and how it works and makes sense to you.It does not matter what others think.
To me more experience you have less clutter you want on your charts and that's why I only have 2 indicators on my chart which is part of my system.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #865,547
  • Dec 23, 2013 1:37pm Dec 23, 2013 1:37pm
I don't know.. If I ask what is the most important level on the chart at the moment, there will probably be a number of levels.. To me it is 3752 because that's where all the buyers gave in after the taper announcement.. if we take that and pull a fib down to the low, for the mid way traders we are above 3689 which is 50% of the move.. Price is going up towards 3752 with proper HHs/HLs. We also have some consolidations in between, and so until some support is broken before 3752, that's the target I'm looking at..
  • #865,548
  • Dec 23, 2013 1:42pm Dec 23, 2013 1:42pm
Quoting attila
I don't know.. If I ask what is the most important level on the chart at the moment, there will probably be a number of levels.. To me it is 3752 because that's where all the buyers gave in after the taper announcement.. if we take that and pull a fib down to the low, for the mid way traders we are above 3689 which is 50% of the move.. Price is going up towards 3752 with proper HHs/HLs. We also have some consolidations in between, and so until some support is broken before 3752, that's the target I'm looking at..

I agree on 3750 when it dropped but 37 is Round number and we are at the moment under it!As long as it stays under to me its bearish.
I am also aware there is thin liquidity and big players are enjoying their holiday.I don't expect significant moves until new year.
This could be scalpers paradise until Jan 2014
In trading, you have to be defensive and aggressive at the same time
  • #865,549
  • Dec 23, 2013 1:44pm Dec 23, 2013 1:44pm
Quoting Davit
{quote} I agree on 3750 when it dropped but 37 is Round number and we are at the moment under it!As long as it stays under to me its bearish.

Agree with this and would be more specific and say 1.3710 or so because that's that's the low of the range we broke out of to the downside after forming a double top and have now tested it twice and failed to get above it.

Originally I was expecting 375 to get tested but from what I'm seeing that is clearly not a definite right now as PA is rejecting that 1.371 level and the momentum seems to be to the downside.
  • #865,550
  • Dec 23, 2013 1:49pm Dec 23, 2013 1:49pm
Quoting Davit
{quote} I agree on 3750 when it dropped but 37 is Round number and we are at the moment under it!As long as it stays under to me its bearish. I am also aware there is thin liquidity and big players are enjoying their holiday.I don't expect significant moves until new year. This could be scalpers paradise until Jan 2014
3689 reacted pretty nicely on the way down and on the way up...and it's become pretty important on the h1 chart..so I guess i'll pay attention to it..
  • #865,551
  • Dec 23, 2013 1:57pm Dec 23, 2013 1:57pm
Quoting attila
{quote} 3689 reacted pretty nicely on the way down and on the way up...and it's become pretty important on the h1 chart..so I guess i'll pay attention to it..

3689 is touching 20MA
Price often reacts to 20MA
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.h1.png Size: 34 KB
In trading, you have to be defensive and aggressive at the same time
  • #865,552
  • Dec 23, 2013 2:00pm Dec 23, 2013 2:00pm
I think they want to park this near 65-71 for the night...
Attached Image (click to enlarge)
Click to Enlarge Name: 15M 23-12-13.JPG Size: 223 KB
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #865,553
  • Dec 23, 2013 2:04pm Dec 23, 2013 2:04pm
L... 2 pips s/l
  • #865,554
  • Dec 23, 2013 2:05pm Dec 23, 2013 2:05pm
Quoting attila
L... 2 pips s/l
That was sneaky
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #865,555
  • Dec 23, 2013 2:07pm Dec 23, 2013 2:07pm
Quoting Avir
{quote} That was sneaky
it's at support.. what can I do?
  • #865,556
  • Dec 23, 2013 2:08pm Dec 23, 2013 2:08pm
Quoting Davit
On my BB set up price is still neutral but slightly bullish however this little bull bounce is expected.Generally for every large move 25-40% bounce is expected since price rarely goes straight down or up. I am bearish to 1.35 {image}
I cannot see a bearish pair here:

Attached Image (click to enlarge)
Click to Enlarge Name: EU.jpg Size: 331 KB


At daily chart it is clearly going up
  • #865,557
  • Dec 23, 2013 2:13pm Dec 23, 2013 2:13pm
Quoting attila
{quote} it's at support.. what can I do?
I would have done the same if i thought that is where they are going to bounce.. Of coz u r right 2pip
Just in case if i don't see you tomorrow.. Merry Christmas to you and your family man, i hope we will see many more here in FF together !!
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #865,558
  • Dec 23, 2013 2:17pm Dec 23, 2013 2:17pm
Quoting Avir
{quote} I would have done the same if i thought that is where they are going to bounce.. Of coz u r right 2pip Just in case if i don't see you tomorrow.. Merry Christmas to you and your family man, i hope we will see many more here in FF together !!
Thanks Avir.. you too... I keep on saying I have to cut this FF crap down, but here I am.. Maybe this will be my ultimate self control test.. Merry Christmas!
  • #865,559
  • Dec 23, 2013 2:18pm Dec 23, 2013 2:18pm
Quoting Maso
{quote} I cannot see a bearish pair here: {image} At daily chart it is clearly going up

I trade on larger TF weekly and monthly.On daily and weekly we had a double top and price failed to break it.Fundamentally Euro issues have not been solved and we could see fresh crises brewing specially with Greece which is due to pay off its bail out but is short on cash. Economically ECB wants lower Euro to stay competitive which was the reason of interest rate cut and there is fresh talk of cutting further.
On my BB system price acted bearish and confirmed my sentiment.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.daily.png Size: 45 KB
In trading, you have to be defensive and aggressive at the same time
  • #865,560
  • Dec 23, 2013 2:24pm Dec 23, 2013 2:24pm
If I were short all I see must and have to be bearish lol
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