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EURUSD M6E/6E Euro


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EURUSD M6E/6E Euro

  #1761 (permalink)
 
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 peterg 
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  #1762 (permalink)
 
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 peterg 
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Typically a breach .786% and base over 1.26.... upside T1 100% and T2 127%
But sometimes it needs to washout weak longs lower before it can load shorts and longs to squeeze higher.

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  #1763 (permalink)
 
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 Cashish 
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The Beige Book report comes out today at 2pm, with the disastrous Consumer Confidence number yesterday I think the B Book report could be a market mover.

My question is this, Where +/- 10 pips will the price of the Euro be at 1:45 pm est. or 17:45 GMT (is that right?).

I always look for the heavy hitters to position themselves deep in the market at both extremes of the day's range prior to a major release, an example might be, to load the boat short at 1.2600 early in the day (given the opportunity) with the anticipation of a sell off at 2pm. Price might be at 1.2600 at 7:20 am and then 1.2520 at 1:45pm.

So, if anyone cares to play along type in the level(s) you expect to see on your chart at 1:45 pm est. Let's set a dead line for "your best guess" by 12:00 (noon) est. Nothing scientific here, just pure, meaningless fun.

My guess, 1.2540

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  #1764 (permalink)
Bharatiya
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My guess 2450

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  #1765 (permalink)
 
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 Cashish 
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I came out swinging for the fence (the pivot), a little early this morning. The bottom of yesterday's Value Area was like a brick wall, and that Pivot at 1.2537 played a little to hard to get for me. I didn't know if you Brits were setting me up or playing along, I thought I was beginning to smell a rat in the wood pile, so I took my bat and ball and went home.








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  #1766 (permalink)
Bharatiya
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Hi Cashish nice chart

I would like to know what formula you are using for your pivot calculation?
& what is this level 2572 come from?

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  #1767 (permalink)
 
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 Cashish 
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Surly View Post
This one took some patience. I was pissed at missing the longs from 2550 and could have been less patient. I waited for price to get back to my 5m 20p EMA and stabilize to buy. I think the market looks bullish and I think a test of 2600 today is not out of the question. How long will I wait? I'm not sure but I'd like to hold this trade for a solid attempt at 2600... I will be very curious to see what happens at 2577 but I think we'll move through that on volume - will be watching.


@Surly read'em and sweep


I traded those moves between the Support (1.2485), Pivot (1.2512) and Resistance (1.2532) early yesterday morning and thought I was done for the day but my wife told me school was closed and I had babysitting duty. So I didn't go to bed and went back to my trading station for a few hours and started watching the market again. When the up move continued I added a 2nd resistance level at 1.2552 (+ 20 ticks). Since this level was near '50, I look for rotation of 14/16 points above and below. Then I noticed this level (on the chart below) in the green circle. Price had already moved up from 1.2532 thru '50 and rotated 15 ticks above and below '50 so I used the 1.2532 area for my stop.




I had sell orders at 70, 72 and 2 @ 74. Price hit 70 twice and didn't fill me, I got some positive slippage up there and sold two at 72 but the high was only 73. The next time I saw 72 fail to trade, I threw in a market order when the bid/ask was above 70 . Of course it traded thru 74 after that. The reason I'm posting is that I didn't expect a run to 1.2600, I considered the move I was after the third attempt at 80, in hindsight maybe it was the second and the move to '80 was the third (that's why I don't like "the wave thing" I can't count). Of course we all have our own ways of viewing the market but I usually don't get my hopes up on a forth attempt, during the same trading session. That said, I could probably show you 19 4th attempts that carried 50 points. BTW, I usually don't trade the day session, I don't know it that well.


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  #1768 (permalink)
 
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 Cashish 
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Bharatiya View Post
Hi Cashish nice chart

I would like to know what formula you are using for your pivot calculation?
& what is this level 2572 come from?

Thank you

That green line at 2572 is a leftover from yesterday, look at the chart I just posted, you'll see where it comes from.

The calculations are Welles Wilder's, Trend Reaction Numbers


H + L + C
________ = X
3

2X -High = Buy Number (BN)
2X -Low = Sell Number (SN)

I have a thread here

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  #1769 (permalink)
Bharatiya
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Thanks

I too belong to old school trading ....use simple price bar chart to trade from .
Whenever you get time I would like to know your long term analysis (daily weekly charts).

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  #1770 (permalink)
 
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 Cashish 
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I'm getting Deja vu all over again



Nice BIG Pending Home Sales number, probably just a flash in the pan, but that's all I was looking for.

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