new shorter term resis being 1.2665, stay below it and we head lower in the short term and one step closer to the 1.2580 level. going for a small short once we roll
me too - order to short at 666 - a number that can be found on the scalp of the euro
probably buy around 590ish or maybe 540
edit: my AB=CD is now telling me 659 is a better entry
Last edited by biggari; 06-18-2012 at 08:28 AM.
good analysis is easy
making money from your analysis is a whole new ball game
Thanks Alejandro. What are the catalysts you believe will get the price back up to 1.2750?
Hello Midas,
Don't you read the news? We just avoided an imminent collapse of financial markets - as the Greek people voted for a pro Euro party. There is lot of short positions that need to be covered and we have several traders using this short term optimism to enter long positions. The trend has clearly been bullish for the last 2 weeks and this is just a small blip against the trend as we try to close the gap - I would buy.
I understand that the Greek election just buys time and many of the problems we have in Greece and the other PIIGS will most likely come back and haunt the markets – but this has not stopped the markets from rallying strongly before - moves have been over 600 pips certain times and this is a lot of pips to leave on the table.
PS: I am just joking – I know you read the news the key is to separate short term from long term price drivers
All the best Alejandro
Last edited by Alejandro Zambrano; 06-18-2012 at 05:34 AM.
Don't you read the news? We just avoided an imminent collapse of financial markets - as the Greek people voted for a pro Euro party. There is lot of short positions that need to be covered and we have several traders using this short term optimism to enter long positions. The trend has clearly been bullish for the last 2 weeks and this is just a small blip against the trend as we try to close the gap - I would buy.
I understand that the Greek election just buys time and many of the problems we have in Greece and the other PIIGS will most likely come back and haunt the makers – but this has not stopped the markets from rallying strongly before - moves have been over 600 pips certain times and this are a lot of pips to leave on the table.
PS: I am just joking – I know you read the news the key is to separate from short term and long term price drivers
All the best Alejandro
Yep - not going against you as you are a tech guru . Just find it retarded that short covering will continue when Portugese riots have broken out and Spanish yields now +7%.
But hey, as you said, let the market come to you.
Midas
p.s Samaras to meet Tsipras in about 2 hours to discuss unity. Meeting Papoulas (president of Greece) in order to get official mandate to run the country.
Last edited by EuroTraderApp; 06-18-2012 at 05:39 AM.
from 1.2290 till present (around 10 days), price has manged to stay above the daily pivot the majority of the time. so ill continue to think like that and presume price will respect the daily pivot and so long as we able to stay above the monthly pivot.......... if we close below then we might be experiencing a pop or a "fake out"..... also another sign that price has more bullish strengh in it then weakness is the fact that price has managed to stay above the weekly pivot for the last 2 weeks.
lets see if this week will be the same, support being 1.2580................
GL.......
got triggered for a short with a tight stop above current resis.... ganna take a few pips off the table around 1.2640/30 and go back in where all the flow is......... which is up.
also went for a hedge long and keep it for a day or two if it goes to plan and respects the pivot which could send it for a new high............. there's also the 200MA and weekly pivot that im looking out for. they could also act as support.
anyway need to head out so let it do its thing i guess.... stops check, limits check,
I have a similar problem, I can't go short on the gap up because of the breakout from last week and can't go long until I get a buy signal so I am bored stiff at the moment.
I have a similar problem, I can't go short on the gap up because of the breakout from last week and can't go long until I get a buy signal so I am bored stiff at the moment.
I know how u feel lol.. I built very, very strict system coz im not that kind of trader who would rely on long term number of trades.. I just hate losses! so I pick just very probable trades.. and even as I am trading H1 TF there are days when nothing happens I hope we bounce from support and head north.. if we do.. I´ll be in Theres no need to hurry ... Im just chillin out and checkin charts every hour... damn I gotta buy a tablet so I could enjoy summer in the woods and be working as well
Thank you, I believe there is no other way to profitable trading than trading with discipline, responsibility and composure.
Unfortunately in the past I paid with lot of money, blood and sweat for this information
I think every trueblood trader is impatient and impetuous at the very beginning and everyone needs to go through the way of loss to find a way how to win!
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Originally Posted by jogold18 
We just avoided an imminent collapse of financial markets - as the Greek people voted for a pro Euro party. There is lot of short positions that need to be covered and we have several traders using this short term optimism to enter long positions. The trend has clearly been bullish for the last 2 weeks and this is just a small blip against the trend as we try to close the gap - I would buy. 
the key is to separate short term from long term price drivers 
