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Thread: The Purely Technical EUR/USD Trading Thread

  1. #1126
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    Quote Originally Posted by CodyB View Post
    eu symmetry
    Attachment 168849
    last one
    Attachment 168851
    Don't Chase the market let the market come to you

  2. #1127
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    Quote Originally Posted by CodyB View Post
    EUR/USD
    $1.3200 Strong offers on approach ($1.28-1.32 DNT structures)
    $1.3172 High Sep17/Strong offers $1.3170/80
    $1.3160 Medium offers on approach/Stops
    $1.3150 Option barrier, $1.2650-1.3150 DNT expires today
    $1.3140 Strong offers (Oct17 high)
    $1.3127 Int.Day high Europe, $1.3125 Asia (NY Tues $1.3108)
    $1.3083 ***Current mkt rate
    $1.3081 Int.Day low Europe, Asia $1.3091
    $1.3080/70 Strong demand/Stops
    $1.3030/25 Strong demand
    $1.3015 Stops
    $1.3000 Medium demand on approach
    $1.2973 Monday Dec3 low
    $1.2960/50 Decent sized stops
    Hello, can you give the source of this ? sorry for my english but i'm french !

  3. #1128
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    Quote Originally Posted by Flexalex View Post
    Hello, can you give the source of this ? sorry for my english but i'm french !
    Those come from one of the services I subscribe to. an owner of an account I manage reads over all of them and posts the important information from them into my Skype in exchange for reduced fees. It saves me many hours of reading junk that does not matter.
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  4. #1129
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    Quote Originally Posted by CodyB View Post
    eu symmetry
    Attachment 168849
    its now or never, close will be important tonight
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  5. #1130
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    Quote Originally Posted by CodyB View Post
    $index following

    Attachment 168771
    same thing so we shall see..might have to rethink it all after the $index moves...2875 mentioned previously has held and would like to see a close above 2934
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  6. #1131
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    Quote Originally Posted by CodyB View Post
    last week the EU was soundly rejected at 1.3010 and made a pullback to 1.2875 before making a new high above 1.3010. 2875 was the top of the rally off 2763 AND stopped it on the way back up from 2661 (2979) so R becomes S stronger from the tests. (I missed it, had limit at 2865 )

    this implies higher prices to come. AND a second consecutive weekly close again above the 618 of the 3486/2042 at 2934 tells us of higher prices to come, next target 3315 the 88.2 AND is also the 618 of the 1.1638/1.6036 (3316). Nice confluence there.

    we also need a break and hold under 80.00 on $index. The index suggests a short rally before the next leg lower under 78.60 that will take the EU to new highs above 3172.

    I am still looking for a buy on dips in this pair that should not exceed the 2875 we saw last week.

    we also have a weekly TL coming at 3050-80. Might be a good place to short major R CT for a few pips, this is also the 70.7 that was mentioned by Fazi a few weeks back I started to watch..Thanks Fazi


    a sustained break of 2858 on a daily chart and I'll rethink my buy on dips outlook. In that case target would be 1.2677 major support first which is the 76.4 of the 1.1639/1.6039.

    From here drop down to the daily and break it down within the context of the weekly, then the 4hr, 1hr and to whatever TF you trade, break them down one by one and trade what your TF tells you...

    remember its not about being right or wrong but the risk you use when the mouse is clicked. Control risk (STOPS)..the rest will follow.

    This is a weekly chart
    Attachment 167522
    Quote Originally Posted by CodyB View Post
    A close above 1.3150 will confirm a strong upmove into the week of December 31. further objective for the uptrend is still the 1.3315 area. It will take a close below 1.2880/2858 to signal a significant top has been seen. Even if this happens, any significant weakness in the euro should not occur until early January, but it should then head erratically lower to February, falling to the 1.2450 area..
    the new year typically sees strong directional flow inversely to trend direction in the first 3-5 weeks of trading..
    be careful being short below 1.2925.
    Removal of 1.3010 resistance implies a continuation higher towards 1.3140/72 resistance but look for this to cap ST and for the range bound trading to continue, its a scalpers paradise
    we only made 3126 as massive DNT's at 3150 stopped the rally short of the 3150/80 and it looks like we can possibly see 1 or 2 more lows before resumption of the rally to new highs above 3172....only a break under 2660 is the up move done....under 2800 and 2763 is still strong support, it held the drop in April and was resistance again in may on a retest..look what it did on the last drop also.
    the 55 sma held this last drop on the EU and it sits conveniently at the 2880 right now.... shorts only on a sustained break of the 2875/2858..first target 2815/2800
    can we see a pop and drop to start the week before a new rally? Lets see.
    I am not in the market that often till next year so this is all from a weekly outlook...for me this latest drop is a correction before a new high to come
    Last edited by CodyB; 12-09-2012 at 10:29 AM.
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  7. #1132
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    Quote Originally Posted by Aymankkh View Post
    As trader : note these 3 factors: (1) end of year profit taking in USA as taxes are going up next year (2) US fiscal cliff (3) deflationary fears $EURUSD .
    I think you're right on all three here. Year end squaring being as you have it #1.

    Aymankkh

    You have to focus on the two things you can Control.Yourself and your risk
    Too many people look for profits first and do not treat this as a business. The key to trading success is emotional discipline. If intelligence were the key,there would be a lot more people making money trading
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  8. #1133
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    What do you see naked?

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  9. #1134
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    Taking a guess 2934

  10. #1135
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    Uptrend is High Probability Trade

    Added RSI to the view, strong support, clear candlestick patterns, target is obvious.



    A little too obvious perhaps?
    Good luck!

    Sorry if I cannot answer you immediately. I'm busy moving the market in the opposite direction...

  11. #1136
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    Quote Originally Posted by lukes8 View Post
    Taking a guess 2934
    weekly has a pretty inverted started and daily has a nice beginning of a C&H...time will tell...

    the "fiscal cliff" WILL get resolved IMO even with all the blustering and grandstanding
    Don't Chase the market let the market come to you

  12. #1137
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    Quote Originally Posted by Paul Chin View Post
    Added RSI to the view, strong support, clear candlestick patterns, target is obvious.



    A little too obvious perhaps?


    Good luck!
    I like it
    Don't Chase the market let the market come to you

  13. #1138
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    Quote Originally Posted by CodyB View Post
    the market will need to take out Friday's highs around $1.2972 to go anywhere, 2934 is the 618 of the 3486/2042, it will need a close above this to gain traction intraday

    offers sit at 2950/55, stops will be above there
    we took out fridays high at 2972 and a close above it opens the door for 3020/25 and above. weekly R1 is at 3075. I'm still looking for a new high above 3172 even if it is marginal....ideal target is 3315 still.. as long as 2875 holds
    Don't Chase the market let the market come to you

  14. #1139
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    Quote Originally Posted by Paul Chin View Post
    Added RSI to the view, strong support, clear candlestick patterns, target is obvious.



    A little too obvious perhaps?
    Good luck!
    I miss your charts! I hope you're doing well buddy. In regards to the EU, I would love to short from that level. I believe tomorrow's events could get us there for a nice short to follow.

  15. #1140
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    Quote Originally Posted by danandsueco View Post
    I miss your charts! I hope you're doing well buddy. In regards to the EU, I would love to short from that level. I believe tomorrow's events could get us there for a nice short to follow.
    I miss your chart too!

    In order for short to be profitable, 1.29765 must be taken out first. Till then, Long is still high probability trade.




    I hope the moderators can do something about my chart being cut off at the right side.... that's where the numbers are... the juicy parts

    Sorry if I cannot answer you immediately. I'm busy moving the market in the opposite direction...

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