My 2 day Hull has now gone pink and the thinner 240 min range channels are running into them. I am long until price touches that thicker Hull and then short from there. I have added more tickles to my earlier longs down from 1.3155.
Closed all but 1 long for profit at 1.3156 and hope for a pull back to the low to add again for ride up. The 10 min stoch mom is very overbought but a pull back would still support the MACD. If no pull back, will close final long nearer the daily pivot, hopefully. There is always a dangler in my work!!
A new low with positive divergence on the MACD would be a great result now for topping up with new longs. There is a sniff of a retracement only move here down from yesterday's high with possible new high's to come. I'll play the waves as they come, but there is enough damage on my 8hr stoch moms from this move to allow a new high to emerge or at least a deep retracement back up to test the high. We shall see!! It has been a while but at least longs are back in the armoury!
think more likely its the 23.6% fib of the move down @ 3160. i'm breakeven at 13162 short and will leave it w/ target of 12995
gr8, but i need to first close my longs at 3173-76 then 3192-3200 then i will short near 3220 if i get the chance to do that, if my game plan worked well then we both go together to grab your target 2995
gl to all of us!
A new low with positive divergence on the MACD would be a great result now for topping up with new longs. There is a sniff of a retracement only move here down from yesterday's high with possible new high's to come. I'll play the waves as they come, but there is enough damage on my 8hr stoch moms from this move to allow a new high to emerge or at least a deep retracement back up to test the high. We shall see!! It has been a while but at least longs are back in the armoury!
gr8, but i need to first close my longs at 3173-76 then 3192-3200 then i will short near 3220 if i get the chance to do that, if my game plan worked well then we both go together to grab your target 2995
gl to all of us!
yes, gl
i've also got the 38.2% @1.31837 as an entry, and the 50% at 13202. The latter corresponds rougly to a broken but untested support line on the 15m from today.
did actually close my short as the 15m
Last edited by MysticMegatron; 05-02-2012 at 11:42 AM.
Reason: changed mind about entry
Here you see the last wave has retraced to the 61.8 of the fibo. Very common. Also the obvious 4 hour rising wedge and the upper descending daily trendline. Here is my chart Attachment 124719
My chart has played out exactly according to plan. I banked some great pips this morning. Hope to be banking more tonight.
USD has done a partial move within the 4 hrs chart posted few days back.. Main are the blue dotted and the one on the top represents a breakout region and hence a move back to it testing is still possible but greater chances are of rejection to it and hence we could see other majors rallying against the USD or retracing healthily..
EURO on 30 mins has a scope of showing 3184-88 possibly upto 3210 for now..
just waiting in for the 30 mins current resis to break..
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...
Hello Traders,
57% of FXCM retail traders are short EUR/USD which would ordinarily indicate further gains in the pair. The rationale is that retail traders are usually wrong when they are either too bullish or too bearish.
Here is what SSI indicates:
SSI Details:
EURUSD - The ratio of long to short positions in the EURUSD stands at -1.31 as nearly 57% of traders are short. Yesterday, the ratio was at -2.03 as 67% of open positions were short. In detail, long positions are 24.7% higher than yesterday and 32.3% stronger since last week. Short positions are 19.9% lower than yesterday and 13.3% weaker since last week. Open interest is 5.2% weaker than yesterday and 1.5% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.
However, the technicals indicate further declines in the EUR/USD and DailyFX Plus includes this explanation that I agree with:
EURUSD– The SSI ratio narrowed to -1.31 from -2.03 amid a 5.2% drop in open interest. Indeed, retail bulls are fading the overnight decline to 1.3129 as the EURUSD maintains the range carried over from the previous week, but the pair may continue to give back the rebound from April as the bearish formation continues to take shape. As price action approaches the apex of the descending triangle, we are looking for a sharp selloff over the near-term, and the euro-dollar may threaten interim support around 1.3000 later this week should the European Central Bank show an increased willingness to ease monetary policy further.
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Kathy Lien at FX360 wrote that a strong NFP number on Friday will be bullish for the USD, and the US markets. Be careful out there if you plan on making an entry before the report.
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Originally Posted by Clivewaverider
approx 60 minute delay?
