The upswing to the pivot resistance did not tag the upper BB20 band which is continuing to drop. It does not have to be tagged before the reversal happens but doing so will certainly help move things along. Downside reversal target is S1 around 1.2315.
OK GUYS LETS CHEKC IT OUT THE LEVEL THAT ALEJANDRO WAS TALKING ABOUT2450 IS WHERE THE SELLER MAY COME THROUGH THE MARKET WHICH IS THE 78.6 FIB RETRACE FROM 2472HIGH TO 2358LOW,
UNTIL THEN, LSN TO SOME SOFT MUSIC
LATER....
100% GRANTEES,
SEE MY PICTURE YOU YOU KNOW THE REST WE ARE PLAYING BELOW 2480
LATER...
hope you've got a picture of a bull for when this beast eventually bounces and a picture of a lib dem (uk only) for when it does'nt know which way to go
Biggest risk of today is the US GDP and ADP report later today - I would stand off and short at better levels if ADP and GDP is better than expected -> causing a increase in risk appetite.
Long @ 1,2400 and 1,237 last night. Targeting at least a retest 1,25 figure.
Now move sl the first position to 1,2400 (break even), the second position sl is 1,2330.
Long @ 1,2400 and 1,237 last night. Targeting at least a retest 1,25 figure.
Now move sl the first position to 1,2400 (break even), the second position sl is 1,2330.
Safe and sound.
probably just the bravest bull still standing - and if you are right, somebody had to be eventually - i don't understand why bulls cant wait for confirmation of a reversal - you wont miss out on that many pips
Last edited by biggari; 05-31-2012 at 05:33 AM.
good analysis is easy
making money from your analysis is a whole new ball game
Long @ 1,2400 and 1,237 last night. Targeting at least a retest 1,25 figure.
Now move sl the first position to 1,2400 (break even), the second position sl is 1,2330.
Safe and sound.
Nope i am with you just waiting for a possible pull back
Could This Pattern and Positive US Job Numbers Keep the Euro Rebound Alive?
Could This Pattern and Positive US Job Numbers Keep the Euro Rebound Alive?
Good Morning traders! It looks like another exciting trading day getting underway as US ADP jobs number gives us a preview of the much anticipated Non Farm Payroll number. Forecasts call for an increase in jobs from the paltry 119k to a tepid 150k. Look for any number north of 150K to continue the current rebound in the Euro. However, lower than forecasted number could stop this rebound in its tracks.
Could this possible be a Rounded Bottom Chart pattern?
Happy Trading!
Greg McLeod
DailyFX Forum Moderator/Trader
Last edited by Gregory McLeod; 05-31-2012 at 06:49 AM.
Reason: re-attaching chart
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Originally Posted by biggari
Not that you looked at the webinars, but that we were looking at the same thing.
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