Dx Daily:
Price is at the major resistance weekly R1 n also the upper t.l of the triangle right at 0.9977 a dip down to pivot then rise is wht i see,
with Stoch pointin Up a break higher n R2 or 10,011 n R3 10,130 is possible.
4hr: Same upper t.l can be seein on 4 hr as well right at 9977, a dip down to R2 or 9954 is possible before any up move,
some bearish div is formin on stoch, once confirmed a dip down to R1 n even pivot can be seen,
as long as 9977 holds stay Short,
today i took a hit on aussie -35 pips my pending re entry wasn't filled at 101 i just saw the prices above 190 my bad luck, by this i realizes that i am a trader with emotions fear greed and hope too, due to fear i wasn't able to take the trade at 110-115 my system was saying to go long and my fear said mr turmaz wait just a little more you will get 101 lol but no 101 its 191 turmaz you scary little trader
but a compensation from fibre, i am a bad trader!
Once I shorted NZD when I meant to go long, just hit the wrong button. I saw it go up but the profit/loss go minus, realized my mistake and flipped it to long, so of course it went back down then and I decided that maybe short was right after all-- so I managed to be wrong three times! It happens.
Maybe it gets there on a spiker on the hourly chart
Originally Posted by turmaz
beautifully behaving eur/usd now my number 3080 in sight i believe!
Odds are it does not get to 1.3080 during this cycle since the upper BB20 is just at 1.3069 and dropping.
Whether it gets there or not, a reversal is coming. The hour timeframe core indicators are already setup for a reversal. The only thing missing is a tag of the upper BB20. Sometimes that does not happen during the current cycle but in cycles later on.
The projection from the daily chart is more highs, so the gap will get filled eventually. But in the meantime, things are extended in overbought conditions on the faster timeframes so some down action is needed to reset the indicators. 1st downside target is the BB20 midline. 2nd is the BB20 lower band. If the price action gets to the lower band, that would also be a retest of the recent lows which is normal behavior when new lows are printed.
Once I shorted NZD when I meant to go long, just hit the wrong button. I saw it go up but the profit/loss go minus, realized my mistake and flipped it to long, so of course it went back down then and I decided that maybe short was right after all-- so I managed to be wrong three times! It happens.
i went long aussie and i meant it long and missed re entry, i remember a quote from my teacher/mentor he said and i quote
"Real trader buy high and sell higher and they sell low and buy lower, they never looks for tops and bottoms"
end quote!
Odds are it does not get to 1.3080 during this cycle since the upper BB20 is just at 1.3069 and dropping.
Whether it gets there or not, a reversal is coming. The hour timeframe core indicators are already setup for a reversal. The only thing missing is a tag of the upper BB20. Sometimes that does not happen during the current cycle but in cycles later on.
The projection from the daily chart is more highs, so the gap will get filled eventually. But in the meantime, things are extended in overbought conditions on the faster timeframes so some down action is needed to reset the indicators. 1st downside target is the BB20 midline. 2nd is the BB20 lower band. If the price action gets to the lower band, that would also be a retest of the recent lows which is normal behavior when new lows are printed.
DailyFX Calendar of Economic Events for Week of 5/6/2012
DailyFX Calendar of Economic Events for Week of 5/6/2012
Hello Traders! What a difference a few hours make as the US equity open sparked a dramatic turnaround in the European stocks and risk appetite currencies.
With a docket full of economic news this week, look for more trading opportunities as the market prices these events.
Trader, Gregory McLeod moderates the DailyFX Forum.
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Who has been in this situation before? I know I have!
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
Webinar: Watch me Trade Live Tuesday, Wednesday, and Thursday at 5:30 ET/9:30 GMT inPip & Run Trading Room.
Odds are it does not get to 1.3080 during this cycle since the upper BB20 is just at 1.3069 and dropping.
Whether it gets there or not, a reversal is coming. The hour timeframe core indicators are already setup for a reversal. The only thing missing is a tag of the upper BB20. Sometimes that does not happen during the current cycle but in cycles later on.
The projection from the daily chart is more highs, so the gap will get filled eventually. But in the meantime, things are extended in overbought conditions on the faster timeframes so some down action is needed to reset the indicators. 1st downside target is the BB20 midline. 2nd is the BB20 lower band. If the price action gets to the lower band, that would also be a retest of the recent lows which is normal behavior when new lows are printed.
The hourly upper BB20 band has gone up to 1.30794. Your odds have increased.
DailyFX Calendar of Economic Events for Week of 5/6/2012
Hello Traders! What a difference a few hours make as the US equity open sparked a dramatic turnaround in the European stocks and risk appetite currencies.
With a docket full of economic news this week, look for more trading opportunities as the market prices these events.
Political news will not be absent either. Sarkozy has quit as head of his UMP party, and the party announced it simply will not choose a new leader at this time, to avoid what could be a painful bloodbath while they are trying to campaign for the legislative elections next month. In Greece, the tallies have been revised: New Dems 108 not 110 as I posted before, one more each for Syriza (Radicals; 52 not 51) and Anel (Independents; 33 instead of 32). This means ND+PASOK is 149 not 151 so they couldn't go it alone even if they tried; Venizelos (PASOK leader) after meeting with Samaras (ND leader) calls on all parties in favor of staying in the euro to join in renegotiating the March deal, with no takers so far. Samaras officially has 3 days: Thursday (if nothing new comes up) he will be declared to have failed and Tzipris (SYRIZA head) gets his chance. I was unaware that there was also a third chance given, but if Tzipris also fails Venizelos indeed will also get three days, before the President (normally a figurehead) has to bang heads together and either get them to agree or appoint a temp prime minister for new elections (joy).
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As expected....
Originally Posted by chaudhry
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Happy Trading....
