Recap: Our short was activated yesterday at 1.3209 @ 9:09 UTC (emails sent out to PRO members). That short hit the first target at 20 pips and got about 25 pips into the profit in total before reversing and hitting our tightened SL at minus 30 pips. We were keeping the SL a little loose to give the trade plenty of room to develop.
A bailout package was reached between Greek and Eurozone politicians, providing the Greeks with financing in exchange for harsh austerity measures that will do very little to help the struggling Greek economy in the long run (and in fact may actually harm any potential recovery). The market initially jumped on the news but the bulls have been unable to push the Euro to a new monthly high.
Trading Idea: We will remain flat on EU today as markets are very choppy at the moment and, more importantly, there is not a quality support or resistance line for us to trade off.
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February 22, 2012 at 08:41
good morning @all
February 22, 2012 at 08:53
Good call,seen my tweet???
February 22, 2012 at 08:54
GM @sahara hope your day will be full of pips
February 22, 2012 at 08:57
was hard this week (a littel red!!
February 22, 2012 at 08:54
still with aud (closed and waiting a nice entry long again !! we can see 06 area again
February 22, 2012 at 08:56
http://imageshack.us/photo/my-images/88/still.png/
February 22, 2012 at 09:00
@ sahara am waiting for a short entry between 1.0720-01.0740 it will be good from there
the foreign ministry resign
February 22, 2012 at 09:02
you will sell in my target (07770 area
February 22, 2012 at 09:01
all red for news out of euro dis morning……
February 22, 2012 at 09:06
Calling all the bears. Lets take it to the gap.
February 22, 2012 at 09:08
@Luxmafx very good call again….
February 22, 2012 at 09:17
@jbretoar88, hope you got also good pips on this trade, I got closed with 40 pips @3215
February 22, 2012 at 09:12
high probability of downward breakout
February 22, 2012 at 09:18
40 pips profit ,but it has to cross again 3207-13 to make short trades more profitable but RR very high
February 22, 2012 at 09:20
it has again its reversal low @3207 and crossing this rate then 3182 S1 in view and next Our daily break out Low 3174 but as long as it is over 3207 not very confident with short trades
February 22, 2012 at 09:31
@ sahara the image its not clear what is the buy area ???
February 22, 2012 at 09:35
O620/15 for me !!
February 22, 2012 at 09:37
thanks @ sahara
February 22, 2012 at 09:37
http://imageshack.us/photo/my-images/204/60561853.png/ if possible!!
February 22, 2012 at 09:38
pay attention many buyers by this rates (3225)
February 22, 2012 at 09:40
thanks for pips @lux (20 down eu!!
February 22, 2012 at 09:43
@sahara, nice to see you my friend, you got that 2 parts of the plane repaired finally??? wish you GL with your new AU destination,
February 22, 2012 at 09:44
i need a driver or a commandant four stars!!
February 22, 2012 at 09:45
why? are you going to star wars???
February 22, 2012 at 09:55
as you said !! you know my area !
February 22, 2012 at 09:48
my view if 0633 not hold in 60 tf then it will go lower to 0574
February 22, 2012 at 09:51
upside has to breach 0675 in 60 tf to be again in its channel up move to first 0727 and further 0841, but today with that bad news from Aust not sure if that will be the case
February 22, 2012 at 09:56
mYsl behind 0560 and i want to broke 0820 area !! (
February 22, 2012 at 10:02
seen not bad at the moment but I would put BE in place of SL , only if it drops again you got some good profit again
February 22, 2012 at 10:07
Hi @all:
We are delaying today’s swing analysis as the markets are very choppy and none of the pairs have quality setups or trends at the moment. We will post an intraday update for all pairs at 14:00 UTC for the U.S. / Asian sessions with the goal being that the pairs will have calmed down a bit during the London session.
With swing trading it is better to be flat in choppy markets as a good trend is fundamental to the system.
Thanks,
- the PipHut team
February 22, 2012 at 10:09
thank you @Mark !!
February 22, 2012 at 10:10
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 3255-60 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 22, 2012 at 10:16
will try a long 3210 area if possible to see 3265 again ?
February 22, 2012 at 10:18
that is a very sensible area, I am looking more for a reverse from 3195-3203 but if you can put your SL far enough why not
February 22, 2012 at 10:20
but just a reminder closing hourly under 3207 in the area 3182 bears are out and this time with full power
February 22, 2012 at 10:22
Thanks!!
February 22, 2012 at 10:27
thnx luxma
February 22, 2012 at 10:31
you are very welcome my friends, @sahara and @aquaman
February 22, 2012 at 10:13
good news all markets in red, this can have effect on the short trades and push the pair lower
February 22, 2012 at 10:31
and usdchf grrrrrr!!http://imageshack.us/photo/my-images/542/aweeeeeeeeeeek.png/
February 22, 2012 at 10:34
@saharaview, how many pairs you are trading??? if I do 2 pairs daily trade I say myself well done but to see you are trading too many pairs and analyze them at same time, really respect my friend
February 22, 2012 at 10:45
daily eu and for weeks (usdchf and aud now!!
February 22, 2012 at 10:41
will this bring us lower under 3230 ??? Dutch FinMin: Still has doubts about Greece’s implementation of new bailout programme measures
February 22, 2012 at 10:43
Source, Reuters
February 22, 2012 at 10:50
4 hours and daily still positive and weak uptrend but hourly loosing bullish momentum slowly, I am looking for 2 rates, upside 3260 again for a double top and short again, downside 3295 for a possible long
February 22, 2012 at 10:59
u mean down 1.3195
February 22, 2012 at 11:00
yes @luxa http://imageshack.us/photo/my-images/138/yesc.png/
February 22, 2012 at 11:07
thx @saharaview, nice explained
February 22, 2012 at 11:07
correction 3195 for going long
February 22, 2012 at 11:11
risky rade but ok we have to do some trades 3230 short to 3190 SL 3320
February 22, 2012 at 11:13
I will put BE by 10 pips following for any reverse back from 3210, but I am sure there are more bears waiting @3210 very badly for going to 3185 first and then lower
February 22, 2012 at 11:37
thank you, Fitch downgrades Greece to C from CCC
February 22, 2012 at 11:44
fitch > – Considers Greek proposal will constitute rating default – Post exchange, Greek ratings can move out of RD category
February 22, 2012 at 12:04
got closed again @3215
February 22, 2012 at 12:05
it seems there is no more interest for downgrading Greece like before
February 22, 2012 at 12:08
Hello all,
just got back, and saw my short form yesterday in the profit, so closed cause we are the buttom of the triangle…..took a long from here with a tight stop loss
February 22, 2012 at 12:14
An aggressive trade, just up to 1,3242 , if price drops out , under 3212, will look to go short
primary is a short but taking the aggressive long now
@luxma, your thoughts
February 22, 2012 at 12:19
hello @ran, nice to see you again, was busy with my facebook followers, your long seems ok if we will be back over 3230 again but we had a 4 hours closing under 3230 which make RR high for long trades at the moment but not to forget that 15 and 30 Tf offering a bullish pattern over 3230 to 3255 first and then 3277
February 22, 2012 at 12:22
wats ur facebook account….hope i’m not invading ur privacy
February 22, 2012 at 12:24
not at all, it is an open source page Luxma FX and twitter @Luxmafx
February 22, 2012 at 12:31
tried locating it on facebook but no luck,kindly send me a link to d page
February 22, 2012 at 12:33
http://www.facebook.com/profile.php?id=100003545613748
February 22, 2012 at 12:23
@luxma, thank you, good to see you back from your trip also
took a long @ 1,3223,now just 8pips from my TP before going short >
Agree with your analysis however, and mainly bearish
February 22, 2012 at 12:28
@ran, thank you, so your Tp is exactly the top of the cloud (Ichii) and both tenken and Kejuen-sen lying at the same price, very scary situation, it can have a jump in both side from that level
February 22, 2012 at 12:31
jump !! i like this word!
February 22, 2012 at 12:34
I see you are long too like ran, ????
February 22, 2012 at 12:36
up and down for few pips!!
February 22, 2012 at 12:36
jump and Drop :-)
February 22, 2012 at 12:31
ok guys another risky trade 3236 short
February 22, 2012 at 12:32
but not a good trade at the moment, it can give me another 15 pips but will not risk and activate SL with 5 pips
February 22, 2012 at 12:39
@ran, your area 3242, great
February 22, 2012 at 12:41
ran air!! (3265 ??
February 22, 2012 at 12:43
voilaa
@luxma – landing time
@sahara- took my profit for now – have to watch for second trade >
65,,,,,,,not so sure now !! lets go?
February 22, 2012 at 12:45
well, it seems that 15 and 30 tf bullish patterns won and we met their first target, second target as before 3277
February 22, 2012 at 12:48
I don’t think price is ready to go out of the triangle just yet
will be ready to ride though
February 22, 2012 at 12:51
@ran, where is this triangle you are talking about??? TF??? and you see a bearish or bullish one, thx
February 22, 2012 at 12:56
its the big triangle on all big frames visible> since yesterday>
For me its a bullish triangle – but I am not convinced we will fly out of it??technical says bullish, but I am bearish!!arrr
February 22, 2012 at 12:49
ok very important point again, 3250 , over will target again 3300 and under 3190 let’s see, tired from the whole Euro game
February 22, 2012 at 12:52
@luxma, this is why i havent been frequent lately, this yo-yo is really stressful to trade
February 22, 2012 at 12:59
@ran, it seems to me like they are waiting for something big, let’s say, some big sound from east part ??? Oil is like Desert storm time over 100 and that is not a good sign again, hard times coming back???
February 22, 2012 at 12:52
ah I know now @ran, 30 tf ??
February 22, 2012 at 12:54
but that is an emerging one and not a completed one, @ran, on 30 I see still a Flag upside target from 3232 to 3255 first and then 3279
February 22, 2012 at 13:06
with the zig zag and uncertainty, i dont find the need to look much further or else i lose the plan with the trade-
here we are back at the 42 level – back to 1,3212???
you have a chart luxma? am i seeing the same? bearish?
February 22, 2012 at 13:10
correct @ran, I am again short but this time scalping to 3230 and then lower under 3230 will scalp with 5,10,15,20
February 22, 2012 at 13:14
@luxma ok decision on the scalp now > could go long if we stay above 30
February 22, 2012 at 13:18
@ran, ok with it but wait for closing 15 TF to have more clear picture of next move, we have 120 pips both side to serve
February 22, 2012 at 13:11
P.S @ran, I do not se any triangle on biger TF , but Pennant on daily and Rising Wedge on 4 hours (Bearish) yes, my view
February 22, 2012 at 13:18
well we are prob talking about the same thing,
February 22, 2012 at 13:16
the real reason for me to be bearish was as said before that 4 hours closing under 3230 which turned MACD bearish on 4 hours and this will bring us lower if the pair able to close under 3230 in 15 TF if not the limit for that MACD back to bullish is 3320
February 22, 2012 at 13:22
got closed @3220 , 5 pip loose from last trade back plus some 25 pips more , i think today 60 pips all together on this pair enough be tired , wish you all GL
February 22, 2012 at 13:50
@luxma, have a nice day adn good job
I am short now – will prob leave this and leave also for tomorrow
February 22, 2012 at 16:09
thanks 3265