EUR/USD (GENERAL)

Hmm I do see what you are talking about there Mikey. The abc short on the h1. If that plays out, it will take out the daily 4324 (78.6). Probably safer for me to exit this current trade at BE if it gets there. Thanks for the heads up

I was figuring a daily close below the daily 78.6 (4324) that I would consider playing abc shorts at that point off the smaller time frames.

Shorting here looks too easy, if you know what I mean. I think we need a mini rally to take out some of the trailing stops first.
I will definitely look to take the short @ 4480, may be just a scalp, but with Sterling looking sick today so far, Euro has to buck the trend to be bullish.

Who knows...? lol

Well I scaled out a bit at +18 and my BE stop has been hit. I will check back later but may wait to trade again until after we get a daily close.

Bullish HD on daily. The 78.6 on the daily "MAY" hold. Have to wait and see.Close below 78.6 tonight and we could see 4156. Close above tonight and the bull HD may just kick in.

Here's my 1hr chart I will be working from for the forseeable.....
D target of 4168 if C has been formed from the 50 fibo.....

Hard to say at this point but above 4375, we could see 4494.
H1:


If price doesnt get above 4375, this could be an H1 abc short with bear HD

EU H1:



EU H4:



EU Daily:

EU Daily 78.6 has held with Bullish Hidden divergence

Daily:



Daily targets: (I anticipate the D target being met as long as the daily doesnt form a HS)

closed all my shorts that was running from 1.4860's ----- pending long @ 1.4115-- (10 pips above) --- for limit of 1.4500 -- will re sell again @ 1.45's only if weekly tell me to do so-- if we test 1.4115 and move over 300 pips to the upside before weekly close, i might stick to bulls --but i think we should see 1.37 later -after the visit of 1.45's

Dang, I just checked out the charts for the 1st time today. Looks like a HS on the daily. Finals week for my daughter so I have the kidddies all week. Looks like the 4157 may be the next port of call. I will have to wait until sunday to trade tho. No trading with the kiddies in the house ..Major chaos!!

here is a video of a 1500 plus pip trade---E/J --- BUY @ 114.20's --- stop below TL-- watch the video!

http://screencast.com/t/O6zyFLUI

1hr D target of 4168 hit to the pip.
I would be tempted to close this EU short trade, but GY has much more room to go down imo. Am expecting 130.5 before the end of the week, maybe <130. Locked in pips on EU and will set some alarms for Asian session.
Take a look at the 4hr TF. AB=CD pattern to the downside with bearish HD in play. The D target for this play is 3730. (taking into consideration, there is a bullish RD currently in play).

Mikey wrote:1hr D target of 4168 hit to the pip.
I would be tempted to close this EU short trade, but GY has much more room to go down imo. Am expecting 130.5 before the end of the week, maybe <130. Locked in pips on EU and will set some alarms for Asian session.
Take a look at the 4hr TF. AB=CD pattern to the downside with bearish HD in play. The D target for this play is 3730. (taking into consideration, there is a bullish RD currently in play).

i disagree with you on GJ ---- retest of 131.00 and thats about it ---i cant see lower as 13.00 --annoying bottom atm- i am still hold pair from 9 weeks ago - 160 will come !

E/U--longs triggered @ 1.4115 ( 10 pips above) --- add more @ 1.4050 and 1.4000 --stops @ 1.3950 --- target 1.45 (partial profit taking) the rest run to 1.4750-final destination --before i will sell again--- long right now for the next couple of sessions--

Gl

gucci wrote:

Mikey wrote:1hr D target of 4168 hit to the pip.
I would be tempted to close this EU short trade, but GY has much more room to go down imo. Am expecting 130.5 before the end of the week, maybe <130. Locked in pips on EU and will set some alarms for Asian session.
Take a look at the 4hr TF. AB=CD pattern to the downside with bearish HD in play. The D target for this play is 3730. (taking into consideration, there is a bullish RD currently in play).

i disagree with you on GJ ---- retest of 131.00 and thats about it ---i cant see lower as 13.00 --annoying bottom atm- i am still hold pair from 9 weeks ago - 160 will come !

Maybe. I have a special way of predicting price for GY at the beginning of the week.
I go to INO quotes each weekend to see what prices GY has been traded at. Last weekend there was a sustained period, (ie more than a spike), where GY traded at 130.5. It even spiked to 130 before rebounding, so I do believe 130.5 is in play.....
In over 3 years of studying weekend Yen prices at INO, I have never seen this method fail, usually comes to fruition the following trading week.
Obviously, I wouldn't stake my life on it.

Mikey wrote:

gucci wrote:

Mikey wrote:1hr D target of 4168 hit to the pip.
I would be tempted to close this EU short trade, but GY has much more room to go down imo. Am expecting 130.5 before the end of the week, maybe <130. Locked in pips on EU and will set some alarms for Asian session.
Take a look at the 4hr TF. AB=CD pattern to the downside with bearish HD in play. The D target for this play is 3730. (taking into consideration, there is a bullish RD currently in play).

i disagree with you on GJ ---- retest of 131.00 and thats about it ---i cant see lower as 13.00 --annoying bottom atm- i am still hold pair from 9 weeks ago - 160 will come !

Maybe. I have a special way of predicting price for GY at the beginning of the week.
I go to INO quotes each weekend to see what prices GY has been traded at. Last weekend there was a sustained period, (ie more than a spike), where GY traded at 130.5. It even spiked to 130 before rebounding, so I do believe 130.5 is in play.....
In over 3 years of studying weekend Yen prices at INO, I have never seen this method fail, usually comes to fruition the following trading week.
Obviously, I wouldn't stake my life on it.

oh ok --- it is then still slight less a double bottom with a spike below ---but i tihnk i dont see below 130's like 129 or so - anyway there is a guy called WMD on FF -also from Uk- birmingham- he ONLY traded weekend rates-gaps-- in more depth --but extremely good ! - hoooked him up-if you are interrested !--

Mikey wrote:

gucci wrote:

Mikey wrote:1hr D target of 4168 hit to the pip.
I would be tempted to close this EU short trade, but GY has much more room to go down imo. Am expecting 130.5 before the end of the week, maybe <130. Locked in pips on EU and will set some alarms for Asian session.
Take a look at the 4hr TF. AB=CD pattern to the downside with bearish HD in play. The D target for this play is 3730. (taking into consideration, there is a bullish RD currently in play).

i disagree with you on GJ ---- retest of 131.00 and thats about it ---i cant see lower as 13.00 --annoying bottom atm- i am still hold pair from 9 weeks ago - 160 will come !

Maybe. I have a special way of predicting price for GY at the beginning of the week.
I go to INO quotes each weekend to see what prices GY has been traded at. Last weekend there was a sustained period, (ie more than a spike), where GY traded at 130.5. It even spiked to 130 before rebounding, so I do believe 130.5 is in play.....
In over 3 years of studying weekend Yen prices at INO, I have never seen this method fail, usually comes to fruition the following trading week.
Obviously, I wouldn't stake my life on it.

r you there ?

Sorry Pieter. My PC leaves me logged in here. Been away for a couple of hours.

Mikey wrote:Sorry Pieter. My PC leaves me logged in here. Been away for a couple of hours.

what is your view on E/U daily ? you reckon the H&S will play out @ 1.4500 as left and right shoulder ? --

Not sure tbh. Bit too far off until I can see the right shoulder forming.
BUT, this is what i'd be looking for if I was thinking we'll see 1.45. A break of the mini neckline indicated below. The right shoulder is not great tbh, but it's what we currently have to play with. If we break this neckline, (which is very possible once we've seen 130 on GY... ), 1.45 or thereabouts would be a great place to watch PA for more dowmside.

gucci wrote:closed all my shorts that was running from 1.4860's ----- pending long @ 1.4115-- (10 pips above) --- for limit of 1.4500 -- will re sell again @ 1.45's only if weekly tell me to do so-- if we test 1.4115 and move over 300 pips to the upside before weekly close, i might stick to bulls --but i think we should see 1.37 later -after the visit of 1.45's

mikey this --- >i did say yesterday -- if we move over 300 pips from 1.4115 --then 1.45's will fail eventually-- weeekly spike will confused many bear traders 2morrow-
when you have a H&S - you need def. 2 confirmations--- TL break and prev low taken out-- only prev low was taken out @ 1.4150's--but bulltrend still intact-i tihnk so

oh well-lets see-- this is going to be a tough fight @ 1.45's --- bulltrend will say retest of monthly bullflag,and beartraders will say daily H&S--

Mikey wrote:Not sure tbh. Bit too far off until I can see the right shoulder forming.
BUT, this is what i'd be looking for if I was thinking we'll see 1.45. A break of the mini neckline indicated below. The right shoulder is not great tbh, but it's what we currently have to play with. If we break this neckline, (which is very possible once we've seen 130 on GY... ), 1.45 or thereabouts would be a great place to watch PA for more dowmside.

mikey--- do me a favour--- pls buy eur/aud now with a 30 pip stop only --NO MORE !! lets see who can hold the trade for the longest -- lets see who win the challenge--it is eventually go to 1.55 --2000 pips--- but lets usse only a 30 pip stop--no more !! be sports

Not seen PipChick here lately. Hope all is ok her end...

Mikey wrote:Not seen PipChick here lately. Hope all is ok her end...

Yes. True. Hope all's well too.

2 quick charts....
EU Daily

And DX Daily