Still looks like a wave 4 in the 5th of 3rd down. Ascending triangle building. Daily pivot maybe it for wave D/4 inside the triangle. Perhaps makes sense with US on hols today.
Can someone try to explain to me the big blue candle this morning. I know the market has to trade up and down, but what I'm interested in, is the size of the candle.
It appears to me as one big buy, if so why? and who?
How does this one big buy completely change the trading levels? ( ie. old support is now resistance at 1.2570?)
I took a short at the top of that candle, but now I'm thinking of exiting and shorting at a higher level, of course I may just hold out for my target of 1.25.
Any help for my simple general questions appreciated. Newbie here looking for answers. thanks ahead of time....
We have to take a look at fundamentals not only in technical analysis. Over the weekend, Greek pre-election polls showed that it is likely to be elected the party that supports the plan from troika. This is the first step to reduce the concerns about a possible exit of Greece from Euro and E.U. The elections in Greece are very important not only for Greeks but for European stability too. We can easily realize that markets are being driven by news and rumors.
I see possibility of a little up. Sure I'm short too under 2550 but not now
Yes I know.. but I mean my personal system is about to make a signal for short (i trade H1 Tp: 25-50)
We´ll see.. but I think the sentiment seems very bearish o.O
But as I said earlier.. DONT TRUST ANYONE BUT YOURSELF lol
I was so mad at myself I believed rumours from this thread I said I will never come back D
But I felt very lonely tho
Last edited by Allan Tuscany; 05-28-2012 at 08:47 AM.
I'm still in my short from 1.2570/ my target is 1.2510, maybe I pull trigger at pivot. My stop was set just below r1 when I took my position. As a new trader, hardest thing to learn is hold your position for what you believe. I think I have more lost trades to lack of confidence. Hopefully I will make good decision this time....
we have VERY thin markets today hence liquidity moves can be drastic.
ECB rate cuts may come sooner rather than later. Earlier this month, the thinking was the central bank would leave rates at 1 pct until 2014. But a lot has changed since then - the Greek and French elections and funding troubles in Spain's banking sector and Catalonia. Add to the brew what appears to be German acceptance of the need for inflation to help resolve the euro debt crisis and the result may be ECB rate cuts to 0.5 pct by the end of the year. ECB rate decision due June 6
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Originally Posted by NoGrn4grnhorn 
