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EURUSD

  • #941,761
  • Dec 7, 2014 7:54pm Dec 7, 2014 7:54pm
EU profit taking and stop run to at least 1.2380 or 1.2400 then resume trend to 1.2200
  • #941,762
  • Edited 8:15pm Dec 7, 2014 8:00pm | Edited 8:15pm
Quoting KiwiTrada
{quote} not a big fan of hedging, but watching Kiwi(exotic) and Aussie(Haven) as they are very closely linked to yen they will gives signs on time if not slightly early, both are being hunted by sellers, looking @ daily charts, they are both @ support, so any drop should be violent albeit same for pop, long would be anti trend with associated risk, shorting is selling support with associated risk, either way any movement will be closely corelated to yen, hedging by watching only, much much cheaper any attempt at buying would be medium term -...
+1
on the 4h chart, i see 100.9x ~ 101.3x is resistance turns into support. next target might be 101.94, depend on the PA @101.9x, more likely higher to 102.4x

edit: AJ 4h chart
edit2: China bad export import data gives direct impact to AUD, bad timing
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  • #941,763
  • Dec 7, 2014 8:05pm Dec 7, 2014 8:05pm
Quoting Sants
{quote} looks like im going to obey your first ground rules in forex: dont fight the trend; even for this month only or till eu qe announcement. Cut my short approx -30pips in average lot and switch to long @149.28 till perhaps middle of the month or tp 150 hit
honestly i dont like EURJPY as a currency pair to trade with, albeit a possibility that EURJPY may go to 152.. risk reward is awful at these levels....
and longing the EURO against the JPY is tough given the proximity of a possible QE in Europe...
but if you want ot go long against JPY, id recommend looking at GBPJPY
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #941,764
  • Dec 7, 2014 8:18pm Dec 7, 2014 8:18pm
Quoting fxtyrant
{quote} honestly i dont like EURJPY as a currency pair to trade with, albeit a possibility that EURJPY may go to 152.. risk reward is awful at these levels.... and longing the EURO against the JPY is tough given the proximity of a possible QE in Europe... but if you want ot go long against JPY, id recommend looking at GBPJPY
yea i hold it for this month only or till the next ecb press release to avoid qe announcement for a while. flow with jpy easing
yes i keep an eye on gj too, anw miss the 186.2x rally before it climbs till 189
  • #941,765
  • Dec 7, 2014 8:26pm Dec 7, 2014 8:26pm
We have to pay attention to the coming ecb or the next after?
Read the entire market, money is made on the main trend not the fluctuation
  • #941,766
  • Dec 7, 2014 8:48pm Dec 7, 2014 8:48pm
Got me 2 good one on GJ, 1 short, 1 Long, Now pending BUY at 189.135
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A good trader follows his rules, but great trader knows when to break them
  • #941,767
  • Dec 7, 2014 9:15pm Dec 7, 2014 9:15pm
Why I am taking a chance on longs with sl just below 1.2280?

Never rely on technicals for direction, however, they are good to bag or lose few pips on bounces. Once, said that, here is what I think based on weekly chart:

1. There has to be a retrace/correction after every major move. It is only that we don't know what price level this retrace will occur and for how many pips. Maybe a retrace is due after that euro fall.

2. Based on the down move marked with the first blue arrow on the left, 1.1780 seems to be a good place to take a chance for a quick bounce of few pips of 30, 40, 50, 100, 250, 500 or anything. 1.1780 level has been calculated as a fib extension. The two yellow arrows on right side of the chart show this calculation. The one on the top is the historical move, the second arrow below that is the fib extension. The green dotted line is the 50% fib.

3. However, the red circled area on the left show that price went above the move used for this calculation, indicating a bounce/retrace could occur before price goes to 1.1780. Therefore a "Trend Line Projection" (lower most green trend line) was drawn at the level where price last stopped. If the bounce occurs earlier than 1.1780, the current price level could be that point.

One taking chance of a bounce at this current level of 1.2290, may like to place their sls few pips below 1.2280 or 1/4th of their profit target whichever is higher in terms of number of pips.

Please remember that technicals do not smell better than a rusty finger, only more exotic in nature.
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The Thief of Wall Street
  • #941,768
  • Dec 7, 2014 9:19pm Dec 7, 2014 9:19pm
Quoting Chicky
Why I am taking a chance on longs with sl just below 1.2280? Never rely on technicals for direction, however, they are good to bag or lose few pips on bounces. Once, said that, here is what I think based on weekly chart: 1. There has to be a retrace/correction after every major move. It is only that we don't know what price level this retrace will occur and for how many pips. Maybe a retrace is due after that euro fall. 2. Based on the down move marked with the first blue arrow on the left, 1.1780 seems to be a good place to take a chance for a...
Finally a great analysis!


I too am looking for a potential bounce.... this week is quiet for the USD so the bounce on EURUSD is gona offer us shorting opportunities for as long as the trendline from 1.4 isnt broken above.....
i'm still holding a sell on pullback bias, anyways wish you all the best with your pullback trade, unfortunately im not as gutsy as you are in longing :/
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #941,769
  • Dec 7, 2014 9:42pm Dec 7, 2014 9:42pm
Quoting Chicky
Why I am taking a chance on longs with sl just below 1.2280? Never rely on technicals for direction, however, they are good to bag or lose few pips on bounces. Once, said that, here is what I think based on weekly chart: 1. There has to be a retrace/correction after every major move. It is only that we don't know what price level this retrace will occur and for how many pips. Maybe a retrace is due after that euro fall. 2. Based on the down move marked with the first blue arrow on the left, 1.1780 seems to be a good place to take a chance for a...
This is how price respected that lower most green trend line on 5M soon after week open. The green trend line was drawn last week on weekly chart.
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The Thief of Wall Street
  • #941,770
  • Dec 7, 2014 10:16pm Dec 7, 2014 10:16pm
need more confirmation to long.
  • #941,771
  • Dec 7, 2014 10:22pm Dec 7, 2014 10:22pm
Long #DX 1st target 89.74 2nd target 89.86 for a scalp.....
calculated levels for Resistance
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"W. D. Gann said that time is the most important factor among all things."
  • #941,772
  • Dec 7, 2014 10:28pm Dec 7, 2014 10:28pm
Well popped back on, still no movement but that's expected we'll see what the London boys can bring...off to bed orders still set hopefully I wake up to them triggered and us back at the same spot we are now . Or I wake up to us 50 pips lower. Either one ill take just hopefully some movement before I wake.
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  • #941,773
  • Dec 7, 2014 10:43pm Dec 7, 2014 10:43pm
Good Night. I am now retiring to my night tent.
The Thief of Wall Street
  • #941,774
  • Dec 7, 2014 11:18pm Dec 7, 2014 11:18pm
EURUSD is forming a Falling wedge-like technical pattern on Daily chart and a break of 1.2460 can easily fuel the pair towards 1.2750 in a quick up-move. Downside support of 1.2225 - 1.2230 continue to become strong rest for it.
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  • #941,775
  • Edited 12:39am Dec 8, 2014 12:05am | Edited 12:39am
OK you guys all posted bullish... so the fibo number 2315 will tell us... the 1st 2294 doesn't count, cuz its fishy move like i said earlier so the last sell logic is supposed to be still valid...the big greedy deal has only made it break lower...
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DONT ASK ME QUESTION, BUT U CAN BAN ME I DONT CARE!
  • #941,776
  • Dec 8, 2014 12:08am Dec 8, 2014 12:08am
seems like it might have some deep retracement at around 2377 area? any thoughts?
  • #941,777
  • Dec 8, 2014 12:59am Dec 8, 2014 12:59am
Quoting mk5
seems like it might have some deep retracement at around 2377 area? any thoughts?
yeah i have a thought: i hope you all enjoying that 2280 price cuz im not sure if we will see it again this month...whatever will be the direction...
DONT ASK ME QUESTION, BUT U CAN BAN ME I DONT CARE!
  • #941,778
  • Dec 8, 2014 1:50am Dec 8, 2014 1:50am
well this shit woke me up...
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  • #941,779
  • Dec 8, 2014 1:55am Dec 8, 2014 1:55am
Quoting thegmann
well this shit woke me up... {image}
No worries. Testing quarterly Fibo .68
  • #941,780
  • Dec 8, 2014 1:58am Dec 8, 2014 1:58am
Break of 1.2260 (Fib 6) may lead to a 1.2110 decline, bounce off this area on the other hand could be a bounce up to 1.2450 area
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