Well, it has taken some time, huh! I am out of my shorts here at 1.3170 and await some consolidation now. Been a good month but hard work as ever. Have a good weekend all.
i bought a small long here at 1.3170 with stops just under 3159, targeting 3228-30 and 3270-72ish
good luck to all of us, difficult to trade this pair nowadays
some quick Charts....
Daily: 3260-65 is the key resistance break higher n i ve weekly R1 or the upper t.l at the 3300 level to look for,a break higher to this level will confirm a move all the way to R2 or 3374.
as long as 3260-65 holds i remain bearish, with some bearish div formin on daily it shud give a fall,
4hr: same bearish div can be seen on 4 hr, a break lower to 3208 or the pivot will confirm the move down to 3190 or the lower t.l , once broken n i don mind it goin down all the way to S2 or 3145,
any move up to 3265-70 or R2 area is also a sell IMO,
Jus stickin to the Plan n P.A moved as expected,
i just love it when daily target achieved while sleepin got me a 100pipper on single trade n 160+ pips all together,
Congrats to those who picked the trades nicely n got some truck loads of free pips in the end...
A Song Dedicated to all my Fellow traders... LMFAO - I'm ---y And I Know It [Lyrics] - YouTube
Done for the Day....
EUR/USD's short term bullish trend which started this Monday from the 1.31 level is now over on the break of 1.32 which was yesterday's London session low. This happened after a downgrade of Spain's credit ranking overnight.
Price is now creating lower highs and lower lows indicating that we are in short term down trend and that we should expect further lower lows and lower highs. Price has also reached the S2 level which tells us that price is a bit oversold in the short term and that we can get a bounce to the 1.3215-1.3150 area yet as long as we trade under the 1.3260 high the probability is high that we will reach 1.3100-1.3120.
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EUR/USD 60 min chart
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Revising EURO tgt from 3145 to 3155 for ASIA now.. As indicated the USD bounced off around 9865 lvl and I expect a move back testing 9910 earlier supp now resis.. This should be enough for a 3155 play on euro..
Euro on 30 mins did held at 3178 supp hinted last time but still 3155....
USD showing a proper bear channel along with a
GL...
Game set match... hedge longs are in 3160 as well.. but i feel pressure to the downside as of now looking at the USD.. USD is set to consolidate as per the given price action within the channels..9910 initial resis holds and 9925-27 resis top of the bea channel..
9910 test still looms and hence we can see some more up coming on it.. Not ver sure but a likel scenario..
Looking for EG to exhaust out as well b4 GBP joins in for the part as well..
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Should'a stood in bed. Watched the Asian session to see if anything odd would happen, meant to go long on USD/JPY before the Bank of Japan did its thing, but they surprised me and dropped the report early while I was talking on the phone to an old friend. Looked at the board and saw USD/JPY had shot up 50 pips without me. I thought it would still go up some more so I went long anyway, and instead it did a 100% retrace of the spike within an hour. I hung with it but it just plateaued at the bottom, later to drop some more, and my stubbornness cost me most of what I'd won on EUR/USD earlier. Put euro shorts back in at end of Tokyo session.
Well at least there is some energy about the place!
Okay, 240min chart first. In order for this downtrend to develop, price first needed to break the orange weekly trend line and the gold 2 day Hull MA (it is gold for a reason!!!!!!!!). Accepted, we only have a stab down at the moment, but that price action this week was all to the underside of the orange weekly median line, which was weak, notwithstanding the bull's inetntions (pun intended). Also, look at that 8hr MACD and stoch combo - looks primed to me!
However, for the 2 day Hull to roll over and start creating a downside direction, is going to take some time. This may be by way of ranging to bide time but I'll be looking to sell the gold line when my 20mins are overbought. Of equal use is the gann angles or pyrapoint chart. Price action is giving that red resistance line to the right of price action a firm hammering all the way down, so the tension is visceral in the market - it is defo a bull, no it is defo a bear, etc etc. I would be really interested short again today at the daily pivot. Given the wacko price action, I expect to have to play expanded flats to confuse the hell out of everyone (lower lows, higher highs, bang, down she goes!!).
If price can avoid dropping under the 1.3161 support line for a bit, then a new square will open up and with it a 45degree blue support line. What I am hoping for is that we crawl or bounce up this new square for a bit, ranging around the gold hull until I can count 7 MyWaves or more in a retracement - this would be an EW wave 2 in a sustained move down (part of a MyWave 7 on my 240 min chart). Eventually, this gold 2 day Hull will turn pink for downward confirmation. Until that happens, I want to see lots of ranging under the Hull.
My 240min MA band is now properly bearish in the short term chart, but this may be stretched thin or turned up again by any retracement - for that gold 2 day hull to turn, will take time.
Last edited by Clivewaverider; 04-27-2012 at 04:29 AM.
Something to help reflect on the fabulous career that is forex trading. I am sure there are lots of 'journeys' amongst the forum members and there is an obvious tilt to the attached video. What fascinated me, was this guys eyes and those of the presenters.
No apologies will be given for this slight diversion to our busy day!
The Belgium Dexia bank could make trend bearish.
That bank is full of sh*t, pulling whole Belgium down.
The good parts are now in the new Belfius bank.
I expect bad news & rates in a couple of days...
Yes stocks can only go up. Bernanke has our back. He is a great man.
I thought Bunny was all in for GOLD.............. ALL for GOLD and GOLD for ALL kinda.............
stocks would have been nice if SNP did a 1348 for I be long on the sucker now...
SNP for you only.. Why I think 1410-11 would take the life out of it and that it would be a bull trap on a break higher to 1405-07 this time..
1387-89 is imp supp... since spotting a wedge on 2 hrs and the rest is done on the layout itself..
It would take much much more for the SNP to break above 1410-11 is what I see on the charts for now..
Have not done in depth on DJ, but I think 13240-45 tops out on it..
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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Originally Posted by Clivewaverider
Posting Permissions 
As planned.....
got me a 100pipper on single trade n 160+ pips all together, 
