FOREX PRO Weekly January 09-13, 2012

[Aldo Colombo]

Hi guys,

Is anybody watching the eur/aud, it seems to be leading the way, when it comes to eur weakness.
The pair went down 800 pips since 20th Dec.

SIVE: Would it be possible, that the big money is shorting eur against the aussie instead of usd?
Is is a nice carry trade at the moment, while on usd cross you lose on interest.

cheers,

Of course, should have known this on 20th Dec lol... EURUSD still breathing, past euro zone fixing... some thoughts anybody?

 

[Louis123321]

I'm out of all trades, waiting till tomorrow. Short scalping should be do-able for the next hour orso though.. market could retrace on asian session.. i dont know to be honest, so unpredictable.

 

[Joshnix]

Not yet lol...... but put it this way.... lost 2/3 of my account today expecting market to go up. lol ... the least funny 'lol's i have ever written...... but Don' worry.. Be happy.. XD at least I still have my real job lol.

Louis,
Just my 2 cents coming from the same experience you are having now. You need to learn about risk. I got short at 9:10 AM as the 4-hr chart failed to break back above the MACDP (redline on sive's charts). It has touched the bottom and made a new low. My stop was 30 pips with a large take profit target. You need to have stops behind major supports, and identify good signals to trade. Trying to ride out a trade for 3 or 4 days is frustrating, I know first hand. I took a 2 month hiatus from pulling any triggers but watching the market. I missed some entries but I was able to identify the exact way I want to trade. If you think this is tough wait until consolidation period. Learn to take your emotions out before you pull the trigger again. Losses are the cost of doing business, keep them small.

 

[Aldo Colombo]

It becomes evident that 1,2666 will be taken unless news hit the wire, fakeout or breakout? target???

Obviously wrong? double bottom in 4hour?

 

[Triantus Shango]

Obviously wrong? double bottom in 4hour?

starting to look more & more like a double bottom. would wait for the 3rd candle to close though. but if confirmed, i'd say initial target up is gonna be 61.8% retrace level from last down move (point A) which also coincides with the daily pivot and the 23.6% level from the move [3079-2666] and slightly above that we have the 38.2% retrace from [2943-2666].

and MACD on H4 is showing a clear bullish divergence as well with signal line about to be crossed.

 

[Triantus Shango]

Latest news

[h=1]EUR/USD: Some Reasons To Be Cautiously Bullish In Short-Term[/h]By Sean Lee || January 12, 2012 at 02:24 GMT
|| 0 comments || Add comment

• Possible double-bottom at 1.2660
• EUR/GBP looks to be challenging recent downtrend
• EUR/AUD reaches what for some was a target level at 1.2325
• EUR/CHF getting close to major supports where SNB intervention will emerge
• Market is very short of EUR across the board
• German Bund auction performed well yesterday

Source: EUR/USD: Some reasons to be cautiously bullish in short-term | ForexLive

 

[RahmanSL]

Triantus my friend...Don't you sleep at all?? Seems like whenever I login to this site, you are always around!

My larger time frames still tells me it's bearinsh...shorter time frame says slightly bullish.
So, short term, I will scalp on the short (with short TP too at 1.27020) until some clear signs appears....maybe like a burning bush or something!
...But more like Sive posting here and confirming what I think of possible market direction.

Trade safely Triantus....and don't let those pips bite;yah!

 

[Triantus Shango]

sive, would it be correct to say that bullish reversal will be much more believable only if price clears the 2860/73 zone decisively?

 

[Triantus Shango]

hardly ;-) actually i am an AI running on IBM's Blue Gene (The Escapist : News : IBM Supercomputer Simulates 4.5% of Human Brain)

since i can simulate only 4.5% of the human brain, it explains my high rate of errors

all joking aside, if sive confirms and levels hold, am short @ 2760. if not, then around 2805/12.

by the way, you seem to be close to an asian time zone as well... where is 'The hot, wet, & humid land below'? sri lanka, malay peninsusla, indonesia, or northern australia?

 

[RahmanSL]

If you goggle "land below the wind" you will get the answer to the name of the mainland big island ....my exact place is also know as "Pearl of the Orient" which is another island (much2 smaller)....the mainland used to be head hunter's country...while mine is the handout of pirates

Back to business: Yup, I will be scalping like f*** if it goes back to 1.2800 levels....