Recap: We did not take any EU positions yesterday, as promised, as the markets are very choppy while the Greek bailout situation is still being ironed out.
Trading Idea: In the resulting chaos we have seen an ascending wedge form on the 4h charts and we will look to trade it in either direction: short on a support break or long on a resistance break with targets at 20/20/25/25 for 90 pips profit.
The wedge itself is a bullish signal, technically, so we will be weary of a false breakout to the downside (long squeeze) before a return to the upside.
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February 22, 2012 at 16:43
Great thank you @Mark!!
February 22, 2012 at 16:50
What about the weekend gap?
February 22, 2012 at 17:22
So far still open… if we do see a break to the downside don’t be surprised if Friday’s close acts as support
February 22, 2012 at 21:09
The analysis is great. I have it on 1hr frame as triangle, but you have done a master’s touch
to it. THANK YOU
February 22, 2012 at 21:11
The daily candle closed as the same yesterday. The same opening and closing- Doji.
Is it of any technical significant?
February 23, 2012 at 07:10
Gud morning all.have a pip-filled day ahead…
February 23, 2012 at 07:41
gm @all
February 23, 2012 at 07:44
GM all GM Sahara
February 23, 2012 at 07:46
Gm@all, was a good idea to close my short trades yesterday and no more trading, in fact today they want to reach with bad news or good news 3320 today to see and have a direction, the first comment from yesterday still active and wish all GL.
omment left on:
February 22, 2012 at 10:10
@Luxmafx says:
Some data for today, we need again like yesterday a 4 hours closing under 3230 to see lower levels but it seems to me this will try to have another visit for 3295-3300 before next drop start, however 15 TF offer a bullish pattern which has value from 3233 to 3255 and next 3277, support for this pattern is @3197
Projection 1.3321
Trendline 1.3258
Support: 1.3190,1.3159,1.3127,1.3100 , 1.3044 1.3000,1.2933
Resistance: 1.3285, 1.3330, 1.3390,1.3440, 1.3500, 1.3550
February 23, 2012 at 07:47
the only change was pivot today 3243 and upper level of that channel 3295-300
February 23, 2012 at 07:47
GM to all
February 23, 2012 at 07:51
that bullish pattern in 15 TF is a Ascending Triangle which is still forming and not completed, it will be more powerful if we see a good closing over 3274
February 23, 2012 at 07:54
GM @Luxmafx
February 23, 2012 at 07:55
GM@aquaman, I have sent you that link you asked yesterday, you could find me??
February 23, 2012 at 07:58
yes i did @Luxmafx…thnx.have a pipfilled day…
February 23, 2012 at 07:59
you too my friend, hope you enjoy it and you will have also very green piping day,
noises o/n: official warned of “huge” Greek implementation risk in next few days.+Japan said considering extra $50bn contribution
February 23, 2012 at 08:06
My view in 15 Tf has changed since it was not a good closing over 3274 as break out high and now a triangle with downside 3254 to 3245 and from there 3232 to 3217
February 23, 2012 at 08:07
the only issue will be Good German IFO to push this higher but still under pressure
February 23, 2012 at 08:10
daily pattern bearish and price range 3159 to 3345
February 23, 2012 at 08:15
Will EURUSD fill the gap any time soon?
February 23, 2012 at 08:22
@Zac, what do you mean with gap filling?? that is very professional and technical view and we are not here in this level, but maybe all traders always guess gap closing here and there they stand correct lucky ball, but normally we never knows and that is in my view insider information (Central banks and big brothers).
February 23, 2012 at 08:17
hi again!
February 23, 2012 at 08:34
welcome @saharaview.Gud Morning
February 23, 2012 at 08:24
welcome back @saharaview, how was yesterday trade?? I have to leave for some reason today and will be back I think by US opening wish you GL
February 23, 2012 at 08:33
pls dont go @luxmafx…. :-).have a good day…see u soon….
February 23, 2012 at 08:50
HI @all
February 23, 2012 at 09:09
@SAHARA see this https://twitter.com/#!/GustavoGomezN/status/171405512196374528/photo/1/large
February 23, 2012 at 10:13
@Luxmafx do you have a page that describes some of your techniques?
February 23, 2012 at 23:27
@zac, was away whole day and back here and late reply, what do you mean with techniques?? such page I do not have but I think if you give me more specification and what you are looking for exactly then maybe I can help you further. GL