Tomorrow there is a vote in the German constitutional court regarding the constitutionality of the bailouts . They may place heavy restrictions on terms and conditions. it could be a very volatile day for the euro
Well Bears, this market is pretty close to breaking down through the up trend line on the daily chart..!
I think within a couple days we'll see this market drop pretty significantly, the candle structure on the monthly chart is warning of a hard drop this month...
In comparison to the hard USD rally seen today in the USD/CHF pair, there has not really been as much movement yet in the EUR/USD... I think this pair has some catching up to do on the down side...
If my wave count in this chart is correct, we have likely started a large wave 3 down with the 161.8% fibonacci extension coming in at 1.2397 ----
I don't know if anybody is paying attention to this, but EURCHF is my favorite today. Since my last post, we've moved up about 30 pips. but the rules are the same. Buy at support for 7-10 pips, depending on your spread. I just place a buy order and within an hour I place another. This has been going on for couple of hours. 10x10=100
UPDATE:
3970 holds.
Resis 4094 followed by 4124-30...
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...
EUR/USD looks bullish however we need price to establish itself above 1.41 to be able to assume a further move higher. If price establish itself above 1.41 we assume a move to 1.42. If price fails to take out 1.41 then price will most likely resume it’s down trend and reach 1.3959.
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Im looking for a bounce off the 14000 area to buy
Have sold for 14122 down to 14065
Now i have a lump trade banked behind me i shall concentrate on my 10x 10 strategy fpor the 100 pips.
10 x 10 pip trades periodically placed throughout the day 1 trade at a time if possible....keeps my lovely wife happy
so far 90% accuracy on all trades trading this setup - for me it works may not work for all
also there are option expires today on this pair for ------EUR/USD- 1.4000, 1.4170
so could be in for a bounce at 1,4000
Last edited by cw1; 09-07-2011 at 05:40 AM.
Reason: couldnt stop talking :)
Yep; I definitely think this Euro looks heavy, especially against a dollar which is gathering a bit of momentum. Dollar seems to be getting stronger across the board; and I think a test of 1.38 area is what traders want; to see how it reacts at that area.
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Im looking for a bounce off the 14000 area to buy
Have sold for 14122 down to 14065
Now i have a lump trade banked behind me i shall concentrate on my 10x 10 strategy fpor the 100 pips.
10 x 10 pip trades periodically placed throughout the day 1 trade at a time if possible....keeps my lovely wife happy
so far 90% accuracy on all trades trading this setup - for me it works may not work for all
also there are option expires today on this pair for ------EUR/USD- 1.4000, 1.4170
so could be in for a bounce at 1,4000
Great drill CW1... shed shorts yesterday at the low and longs from 3983 and 3999 shedding last ones around 4131 and now short 4130 added 4099 .. short on GU from 1.6000 and AUD 10 pips from the high........ GU and AU was not moving earlier so cashed all but 1 each and then they decided to fall as well.
On euro break of 4060 and now 4033 test needed.. 4020 comes in as a trigger for a move to 3975.. ( hopefully)... 3055 VERY IMP and only under to it i be looking for a soft tgt around 3850-55.. else 3733-40 is the expected move on a clean break under...
So i hope this pans out as expecting and i have been taking my profits around the stall points only to add them back and selling into strength.............
GL..
EDIT:: on other side above 4125-30 this downside will be invalid...
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...
Im looking for a bounce off the 14000 area to buy
Have sold for 14122 down to 14065
Now i have a lump trade banked behind me i shall concentrate on my 10x 10 strategy fpor the 100 pips.
10 x 10 pip trades periodically placed throughout the day 1 trade at a time if possible....keeps my lovely wife happy
so far 90% accuracy on all trades trading this setup - for me it works may not work for all
also there are option expires today on this pair for ------EUR/USD- 1.4000, 1.4170
so could be in for a bounce at 1,4000
ITs a close call on the 30 mins but if it can then 3992-95 and yes 1.400 could be where drop ends .. it has be earlier then the 3973 and makes sense..
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...
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Originally Posted by cw1 
