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EURUSD 6E Euro
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EURUSD 6E Euro

  #791 (permalink)
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  #792 (permalink)
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For what it worth.. here is my unprofessional analysis and opinion...

I think the Euro is being held up by professionals, iran news, and the price of oil. take a look at the price action for the last week. The price keeps oscillating around 1.30... By all rights it should be lower.... I think it will hang around 1.30 for a while longer...+/- 150 ticks. Once signifigant news comes out and the price crosses 1.28 or 1.32 then we shall see how strong it actually is.

If the news continues to be bad from across the pond the Euro could test 1.18 by the end of the year.

SD

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  #793 (permalink)
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I see having a lot of upside resistance given the areas of support being broken down although it did bounce off of last January's swing low. There will probably be many attempts to support it down here and could see a test of the 1.3140 area which I could definitely see rejection from this area. Today's gap up was basically a return to the scene of the crime from 12/28's big sell off. It'll be interesting to see what happens from up here as the market was up on no news of significance. We now have a nice sized gap down at 1.2966.

Nothing has been resolved in the EU or the US for that matter and more negative news could definitely provide more downside pressure. As I've said before, I could definitely see a test of around the 1.24 area.

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EURUSD 6E Euro-2012-01-03-6e.jpg   EURUSD 6E Euro-6e-03-12-15-min-1_3_2012.jpg  
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  #794 (permalink)
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Silver Dragon View Post
For what it worth.. here is my unprofessional analysis and opinion...

I think the Euro is being held up by professionals, iran news, and the price of oil. take a look at the price action for the last week. The price keeps oscillating around 1.30... By all rights it should be lower.... I think it will hang around 1.30 for a while longer...+/- 150 ticks. Once signifigant news comes out and the price crosses 1.28 or 1.32 then we shall see how strong it actually is.

If the news continues to be bad from across the pond the Euro could test 1.18 by the end of the year.

SD

I forgot to mention this; I listen and read a ton of news. I keep hearing these levels floated around along with these news topics in relation to the euro. When you hear the same thing over and over again from a lot of different sources its either true or it becomes a self fullfilling prophecy. In either case its wise to pay attention to what the mob is saying..

SD

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  #795 (permalink)
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Where are you e/u guys...I only hear cickets here....
Just go long at 1.3012 (not 6E) go for a hundred (120 really)and reassess....
That's my guess....check your charts see if it makes any sense to you.


So much for that brilliant idea....no PA anyway...just sailed right through it.

I still have this run up to 3140 area in mind....maybe I'm just wrong on this one...I want to see something on a smaller time frame before jumping on.

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  #796 (permalink)
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kbit View Post
So much for that brilliant idea....no PA anyway...just sailed right through it.

I still have this run up to 3140 area in mind....maybe I'm just wrong on this one...I want to see something on a smaller time frame before jumping on.

Thanks. Refreshing to see someone owning up to their prediction being wrong, rather then the usual behavior of most of pounding of chests when that prediction happens to be right, and being silent as a cricket when it's dead wrong. We should have a rule, for every post predicting the market, there should be an associated posted acknowledging the result.


Last edited by monpere; January 4th, 2012 at 01:14 PM.
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monpere View Post
Thanks. Refreshing to see someone owning up to their prediction being wrong, rather then the usual behavior of most of pounding of chests when that prediction happens to be right, and being silent as a cricket when it's dead wrong. We should have a rule, for every post predicting the market, there should be an associated posted acknowledging the result.


I AGREE monpere

This is why its always fun to trade with a few other people on IM, you make ur call, then u get praised or pounded. Trust me no one wants to look bad so we make sure our calls are thoroughly thought out, even if we re wrong lol!!!!!!!!!!!Makes slow days go by faster too.

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  #798 (permalink)
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At the end of the day, no one can accurately predict where price will go on a consistent basis. It's best to look at the possibilities and react as they're developing.

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  #799 (permalink)
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I AGREE monpere

This is why its always fun to trade with a few other people on IM, you make ur call, then u get praised or pounded. Trust me no one wants to look bad so we make sure our calls are thoroughly thought out, even if we re wrong lol!!!!!!!!!!!Makes slow days go by faster too.

I can't imagine chatting on IM while trying to put a trade on. The last thing I need during a setup is another thing to take care of. I can't figure out how the trading coaches / teachers trade while running a chat room.

Maybe if I had software that posted my orders and fills, and some voice recognition software that wrote what I said into IM instead of needing me to type it, then I could do it. But if someone started questioning my rationale, I'm sure it would blow my strategy execution to pieces.

Apparently the great Al Brooks manages it though.

You can discover what your enemy fears most by observing the means he uses to frighten you.
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Adamus View Post
I can't imagine chatting on IM while trying to put a trade on. The last thing I need during a setup is another thing to take care of. I can't figure out how the trading coaches / teachers trade while running a chat room.

Maybe if I had software that posted my orders and fills, and some voice recognition software that wrote what I said into IM instead of needing me to type it, then I could do it. But if someone started questioning my rationale, I'm sure it would blow my strategy execution to pieces.

Apparently the great Al Brooks manages it though.

LOL, trust me after you lose alot or trade alot or maybe both, you ll settle in. Just reading your response takes me back to the beginning days, I was like a owl, my eyes never moved from my charts,lol those days (hence always have stop orders attached to orders) ... And until you have no emotion and are relaxed I recommend you stay in Sim or demo mode, trust me, you ll thank me for this advice one day!

Cheers Mate
Richard

A good friend of mine lives in Surrey

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