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  • #1,080,681
  • Nov 17, 2016 9:33pm Nov 17, 2016 9:33pm
Quoting pipshaman
GM guys, do we see 1.05 today!!!???
No today will be take profit day.
  • #1,080,682
  • Nov 17, 2016 9:56pm Nov 17, 2016 9:56pm
1.05261 seem a Good place to LONG.. Any Ideas?
  • #1,080,683
  • Nov 17, 2016 10:09pm Nov 17, 2016 10:09pm
Quoting jusstin911
1.05261 seem a Good place to LONG.. Any Ideas?
If You have riden the wave down - yes !
If You have missed , not a good one .
If You like gambling , 1.0570 is where the trendline is ......

edit :
..but why not fade the rally after Draghi ( if we see a rally ) , for testing the bottom ?
  • #1,080,684
  • Nov 17, 2016 10:18pm Nov 17, 2016 10:18pm
Over sold is officially dead in this pair.
It's not how much U make, but how much U keep
  • #1,080,685
  • Nov 17, 2016 10:18pm Nov 17, 2016 10:18pm
Inserted Video
  • #1,080,686
  • Nov 17, 2016 10:21pm Nov 17, 2016 10:21pm
Quoting jusstin911
1.05261 seem a Good place to LONG.. Any Ideas?
Why are you try to long even the current trend is obviously down?
It is risky to open a long position in the down trend because going up is just retracement.
It is better to think that range-bound comes after massive down trend.
Obvious up trend generally comes after enough range bound with consolidation..
  • #1,080,687
  • Nov 17, 2016 10:25pm Nov 17, 2016 10:25pm
Quoting kuankuna
{quote} Why are you try to long even the current trend is obviously down? It is risky to open a long position in the down trend because going up is just retracement.
Because he's asking if the weekly support will provide a good base for a long. Depending on the SL it could be a good R:R trade. After such a major fall in the last 10 days, if it touches that level today I am in long (but I don't think it will)
  • #1,080,688
  • Nov 17, 2016 10:27pm Nov 17, 2016 10:27pm
I am looking at more like 1.0525. And that would be a retracement trade, but look at the daily or weekly. If we do find support there it would be a huge trade. At least 100 pips if one held on. Though, I highly doubt we see that this week. Bet we make it to 1.0550 before action dries up today.
  • #1,080,689
  • Nov 17, 2016 10:27pm Nov 17, 2016 10:27pm
Quoting akiga
Over sold is officially dead in this pair.
If You are looking at shmocastics , RSI and other rubish , do Yourself a favor and stop .
Its overstreched though , monthly rangewise .......
  • #1,080,690
  • Nov 17, 2016 10:32pm Nov 17, 2016 10:32pm
Quoting oztrader79
{quote} Because he's asking if the weekly support will provide a good base for a long. Depending on the SL it could be a good R:R trade. After such a major fall in the last 10 days, if it touches that level today I am in long (but I don't think it will)
Understood.. nice idea..
In my view, the price may go down more because that dollar now controls this pair, and dollar index already made a breakout its yearly high..
Anyway.. very tricky days for this pair.
  • #1,080,691
  • Nov 17, 2016 10:43pm Nov 17, 2016 10:43pm
It's a long night for me, made some money on a sort rally for euro yestday. The question is I'd today we are going to hear Draghi and if there are any clues that could push this euro up. Because I need sleep, and 3:30 is a helluva time, I am trying to figure out if we have hit bottom. I am feeling that this goes beyond parity, but indicators say, near parity with US dollar is enough.
  • #1,080,692
  • Nov 17, 2016 10:50pm Nov 17, 2016 10:50pm
My point....
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  • #1,080,693
  • Nov 17, 2016 10:58pm Nov 17, 2016 10:58pm
My Intraday View

Yesterday, another fake euro recovery.
...how many more?
No one see it coming before the Trump "revelation" !
E/U back into my descending channel (chart)
Intraday resistance: 1.0680 - 1.0700 area ....support : parity? (!)

Really mind the 2 possible scenarios:

1. When they sell (the huge fonds, banks) they have to take their profits as well, everybody knows that, right?
So it seems reasonable to think that after a massive sell, a major correction is rising to the critical mass waiting the proper moment to burst out.
So if you count on that scenario, just wait that moment (mind the fakes) and jump in, make a lotta money;
Mind that can happen even on Fridays, when some traders are expectig the less!!!

2. There are some corrections (fake recoveries) where a possible explanation could be like the big players took their profits and sold more.
If you count on that scenario you will never see a major correction on E/U soon enough, just the RBs taking profits and absorbing the money of that guys who believed that the magic euro is coming back!
In that case you will relax and sell more to the 1.0500 ...even parity, as some banks forecasted for 2017!!!

Just don't waste your time (and forum space) with thoroughly technical analyze. It's irrelevant!
Just follow the chart, follow the crowd movement, eventually the news spikes, and some relevant S/R levels.
Words like oversold, overstretched are irrelevat ...as was seen recently.

Good trading you all!
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  • #1,080,694
  • Nov 17, 2016 11:01pm Nov 17, 2016 11:01pm
Quoting suthmo
If I get it wrong, the 2nd law of suthnomics states that: All things being one, everything is the same forwards and backwards through time, it's all relative. Therefore up is down and I was right

It's OK, just don't forget to take your meds.
  • #1,080,695
  • Nov 17, 2016 11:13pm Nov 17, 2016 11:13pm
Quoting Connors
{quote} It's OK, just don't forget to take your meds.
Holll Up!!!! Say what ?????????????? He on Meds??? Damnnn alot of people been following him for sick? No wonder he's post be so annoying
  • #1,080,696
  • Nov 17, 2016 11:16pm Nov 17, 2016 11:16pm
Quoting jusstin911
{quote} Holll Up!!!! Say what ?????????????? He on Meds??? Damnnn alot of people been following him for sick? No wonder he's post be so annoying
https://en.wikipedia.org/wiki/Delusional_disorder
  • #1,080,697
  • Nov 17, 2016 11:22pm Nov 17, 2016 11:22pm
Quoting jusstin911
1.05261 seem a Good place to LONG.. Any Ideas?
Quoting Connors
{quote} Stopped. Tough day/week. Have no meaningful support left until 1.0506, for any bull left, best chance is to print a higher low than 1.0506 and see a few green 4H candles for a possible reversal. Personally expect 1.0454 to be tested after 1.0667 is crushed. Good luck everyone.
I let suthmo to tell us all about this level next week explaining it in a sequence of wave 7 of 7 ^7 and why it will sky rocket from a little above.
  • #1,080,698
  • Nov 17, 2016 11:28pm Nov 17, 2016 11:28pm
Quoting Connors
{quote} {quote} I let suthmo to tell us all about this level next week explaining it in a sequence of wave 7 of 7 ^7 and why it will sky rocket from a little above.
yes but he sees through time and so it's all the same wherever it goes.... to quote (more or less) "Elliott saw the crescent but I have seen the whole moon." humble much.
  • #1,080,699
  • Nov 17, 2016 11:30pm Nov 17, 2016 11:30pm
Quoting TudorIoan
My Intraday View Yesterday, another fake euro recovery. ...how many more? No one see it coming before the Trump "revelation" ! E/U back into my descending channel (chart) Intraday resistance: 1.0680 - 1.0700 area ....support : parity? (!) Really mind the 2 possible scenarios: 1. When they sell (the huge fonds, banks) they have to take their profits as well, everybody knows that, right? So it seems reasonable to think that after a massive sell, a major correction is rising to the critical mass waiting the proper moment to burst out. So if you count...

I fully agree with your assessment, plus the Christmas bonus are paid based on closed positions so a bullish correction "fake recoveries" on EUR/USD is overdue and also a bearish correction in stocks is also overdue.
  • #1,080,700
  • Nov 17, 2016 11:37pm Nov 17, 2016 11:37pm
Quoting Jonstaples
{quote} I fully agree with your assessment, plus the Christmas bonus are paid based on closed positions so a bullish correction "fake recoveries" on EUR/USD is overdue and also a bearish correction in stocks is also overdue.
Yeap. The euro bulls aligning the ranks snuffling... waiting for the start
Perhaps Draghi will start another fake move today in Frankfurt ....or maybe the big move? ....we'll see
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