Forex Signals – Bulls in a Bear’s World
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Recap: No trade taken yesterday to report on as the support break that would have triggered our short never occurred. Instead support held and actually “trampolined” the price to challenge the 1.22 area.
This is great news for any “bounce” traders as the pair did kick out a proximity alert just 10 minutes after our signal yesterday at 1.2063 – a 100 pip bounce!
Today’s Important News Events:
| Date | Time (UTC) | Event | Forecast | Previous |
|---|---|---|---|---|
| Thu Jul 26 |
12:30 | USD Durable Goods Orders (JUN) | 0.3% | 1.3% |
| *To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar. | ||||
Trading Idea: We will look to get long on a resistance break (price is flirting with resistance right now) with targets at 20/20/20/20 for 80 pips.
We are bearish on the pair but, there is no support for us to trade off of at the moment.
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Appie P
July 26, 2012 at 07:31Good Morning All. Thank you for your Recap/ Idea Mark. Today Trading range 2084 (S1) – 2234 (R3) ??
Appie P
July 26, 2012 at 07:37Correction R3=2243 S1=2081
David Chitembo
July 26, 2012 at 08:29iam long at 1.2125 and iam targeting 40 pips
Appie P
July 26, 2012 at 08:34Ok Davidchitembo. Pivot Level = 2126
sahara
July 26, 2012 at 08:46gm @all
roggy
July 26, 2012 at 08:55Mark, tnx for the analysis and GM to all
Price is unable to mike a higher high and breaking yesterday’s high ATM ..
@appie: i have support @1.2113 then there is a monthly S2 at 50% retrace of yesterday’s rally @1.2106 and a weekly S1 near 61.8 retrace @1.2090
currently short from 2142 and SL to BE+1 ..
here’s the chart: http://clip2net.com/clip/m81565/1343292912-clip-48kb.png
Appie P
July 26, 2012 at 09:44Ok thxs roggy. Looking to go long before us session.
roggy
July 26, 2012 at 09:51I have my key resistance level @1.2165 .. but expecting a hit on 2113 before some rally .. let’s see ..
@all: I’ll give you an interesting weekly chart on UsdChf .. http://clip2net.com/clip/m81565/1343242671-clip-43kb.png .. if this happen we can see some Eur bulls ..
Appie P
July 26, 2012 at 10:01I agree roggy and set long @2115 :-)
Tuan
July 26, 2012 at 10:17My PO long@1.2126 has been triggered. EURUSD has been bounce up fast again… I thought Bulls can stand of Bears anymore :D.
Appie P
July 26, 2012 at 10:21close long @2150 TP2170 :-)
Appie P
July 26, 2012 at 10:23GM Tuan. Yes bounce up now ;-)
Tuan
July 26, 2012 at 10:32TP1 1.2200 has been taken… Wow too fast moving.
Johnny
July 26, 2012 at 10:34Outsider…. Hè hè hè…. Ha ha ha. My 1TP HIT @95 hè hè! Now up to 2240 and adobe hè hè, back to work…GL ALL AND THANKS MARK.
Appie P
July 26, 2012 at 10:43Bullish Crab effect Johnny :-)
Appie P
July 26, 2012 at 10:35Yes Tuan iron shield :-)
David Chitembo
July 26, 2012 at 10:35i am looking to take profit from long at about 1.2215
Appie P
July 26, 2012 at 10:42You toke your profit?
Appie P
July 26, 2012 at 10:36Bullish Crab effect !!
Kobe
July 26, 2012 at 10:38closed my long @2194 from 2104 a nice 90 pips in the pocket!
Appie P
July 26, 2012 at 10:43Well done Kobe :-)
Johnny
July 26, 2012 at 10:42100 pips in just an jours time…. Only at Piphut you get this haha … Boss is coming Quickly back to work now
Appie P
July 26, 2012 at 10:50Yes Johnny the BIG Money you earn on piput ;-)
Appie P
July 26, 2012 at 10:51piphut :-)
David Chitembo
July 26, 2012 at 10:44closed my long with about 90 pips profit
Appie P
July 26, 2012 at 10:47Congratulation Davidchitembo !! 90 pips profit in 2 Hours is a good one :-)
Tuan
July 26, 2012 at 10:49Today is shinning on my pocket haha :D Cheers Up Guys!
Appie P
July 26, 2012 at 10:53Hahaha Bulls are the winners these days Tuan :-)
Tuan
July 26, 2012 at 10:58Yes, now we just waiting for Bears come back to the Battle. We still in Bearish Trend.
sahara
July 26, 2012 at 10:55golden camels !!
Johnny
July 26, 2012 at 10:57Just step back home…..@Piphut – Thanks Mark for the great signal again…What we do without you!!!
fxtrader
July 26, 2012 at 10:57I missed out on EU but got mine on AU. Nice 80 pips and counting;-)
sahara
July 26, 2012 at 10:58nice weldone @fx just rejected in S !! in like you
sahara
July 26, 2012 at 11:00pips give it to market yesterday are back !!
Patrick
July 26, 2012 at 10:57was quite busy. missed the north train pips congrat guys
Johnny
July 26, 2012 at 11:002170 is now good support and if we breach 2240 then I will aim at 2280/85….But my final tp still aiming 2320 (as said before) :-) Lets see?
Johnny
July 26, 2012 at 11:02Few pips away from my 2TP (2240)….How long can the bulls go on ??? he he…
Johnny
July 26, 2012 at 11:052240 alreaady HIT ! he he…this is going to fast for an ole man like me :-(
Now 2280/85 and I think we may still see my final TP 2320 (As Ive mentioned days ago :-)
Lets see
Johnny
July 26, 2012 at 11:08I need a Doctor !!! :-)
Johnny
July 26, 2012 at 11:10Its very hot today…not only the weather :-)
Johnny
July 26, 2012 at 11:10All at the sidelines ????
Johnny
July 26, 2012 at 11:11And 3TP HIT !!!! ha ha ,,…..Now lets see ?
Johnny
July 26, 2012 at 11:1222880/85 was my 3rd tp…..
Maria
July 26, 2012 at 11:13EURUSD stopping myself manually out of the short set, flat and back to observation mode.
Maria
July 26, 2012 at 11:22Combined loss across positions around 300 pips.
Johnny
July 26, 2012 at 11:30@Maria – What can I say…Feel with you…..and know how it feels too (been there)
Just open a bottle tonight and have a good drink…I do that :-)
Together, (in here at piphut) we gonna make that 300 minus into 300 plus, be assured ! TC
Johnny
July 26, 2012 at 11:15Even gets more hot all of a sudden….Dont know why….? :-)
Appie P
July 26, 2012 at 11:15no johnny no sideline close long @2250 TP=2270
Johnny
July 26, 2012 at 11:16@Appie – Remember ??? 2320 !!!!! he he..If thats would fall, then 4210 is the end…
ut think 2320 would be a good level to go Short ? Lets see
I am aiming my final tp 2320 now…But….Risky !!!
Johnny
July 26, 2012 at 11:17error = 2410 insted of 4210 !!
Appie P
July 26, 2012 at 11:182320 will be fine to go short :-)
Appie P
July 26, 2012 at 11:23170 pips in about one hour is a large movement.
doc1
July 26, 2012 at 11:35Gm all
Alot of $$$ gets lost in trying to short or long these sudden moves……
Best to wait and see whether it’s a continuation or exhaustion….. my bet is exhaustion with more pushes into maybe a short term short squeeze…
If EU can hold 2265 then break above 2285 we’ll see more upside
One things for sure… the bulls are rallying so it’s gonna be a battle
Crises (then the solution) Response ( from investors)…Disappointment ( the EU problem is far from solved) then back to Crises
JMO
doc1
July 26, 2012 at 11:37I find it hard to believe that Draghi’s pep talk will push EU into a reversal
Johnny
July 26, 2012 at 11:41There s an End to everything @Doc……Whatever, you name it…..Lets see :-)
@All I just as well may close out as there s enough now for an icecream and a cold beer….its very hot here at the moment…..But my feeling is we may see 2320 before the drop will start?
Lets see….just giving it a few more minutes. @60 is now support…
Goodday to you All….
Jim
July 26, 2012 at 12:01lol… sure …. do you seriously think a pep talk from Draghi has even the slightest chance to push the euro into a reversal?
Hope that feeling doesn’t turn into a stomach ache for ya ..
GL
Appie P
July 26, 2012 at 11:43@doc1 markets are politic driven :-)
Appie P
July 26, 2012 at 11:45Never underestimate a bullish crab.
Jim
July 26, 2012 at 11:49Comment left on:
July 24, 2012 at 22:04
doc1 says:
Looking @ the monthly chart and it just smells like a correction is overdue…..
http://imageshack.us/photo/my-images/841/eumonth724.jpg/
Even though the trend is still clearly down on the historic chart it is clear that EU is finding support on the MA’s which are hinting at a bottom….
With the bets on that the FEDS will ease before September ( old news does not move markets rumours do) I am becoming more and more biased to a stronger correction before we head down to 118 or lower…..
I am watching for the big exhaustion move before closing all my open positions and begin to build a long position
FWIW
Appie P
July 26, 2012 at 11:51doc1 you are right that we will go down. Only what is the political decision? After Olympics?
Jim
July 26, 2012 at 11:55@appie….
Trying to figure out politics is like trying to bag smoke….
Real fundamentals are based on truth …undeniable truths…..
Our trading opportunities lie in not trying to catch these sporadic movements but in waiting for the truths to become evident again and only then jump on board
jmo
Jim
July 26, 2012 at 11:50Glad I followed my own advice :)
Grace
July 26, 2012 at 11:52wow! Johnny needs to call for a party. really miss out. just getting in for few pips.
Jim
July 26, 2012 at 12:05Long @ 2265 sl open
sahara
July 26, 2012 at 12:14HI @DOC
Jim
July 26, 2012 at 12:14hi sahara… hope your day’s going well… trading and otherwise :)
sahara
July 26, 2012 at 12:20only golding (was long with aud from S closed
sahara
July 26, 2012 at 12:20trying to bke 1620 !!
Jim
July 26, 2012 at 12:17Thursday, July 26, 2012 ⌚08:08 AM
Spanish 10-year yield drops below 7% for first time since June 19 after Draghi pledges action.
Chip
July 26, 2012 at 12:22Hi @all!
I was out playing tennis for 3 hours and I missed the big rally, and at this level (1.2260) I prefer to watch and learn.
Congrats to all of you who made nice profits today!
Appie P
July 26, 2012 at 12:33Thxs Chip. Glad to see you here.
Appie P
July 26, 2012 at 12:28about two minutes: US Unemployment Claims
Chip
July 26, 2012 at 12:32353K – better than expected
buzzbart
July 26, 2012 at 12:32Hello
Would somebody knows where it goes?
@ 2410 UP and DOWN?? (@ 2145)? …
Thank you
Google Traduction
Maria
July 26, 2012 at 12:34Nah don’t worry Johnny, still a green month, just annoyed that I didn’t follow my own advise on a bigger pullback at 1.2050 which is what I have the feeling is developing (might obviously be wrong again though).
Either way felt safer to pull out before the full set activates rather than going into rescue on a max set later on for this set.
Appie P
July 26, 2012 at 12:49short @2310 let see.
Johnny
July 26, 2012 at 12:51Good to see that @Maria….I know you’re tough enough :-)
Anyway, was away from my PC…..And I see my final TP is nearing…..2320!
The push down comes in at 2326….And I already saw an ugly bear pattern around the corner on my chart….SO, I think I may go Short from the same level???? Lets see?
Soon gotta go outside….
Wishing all a pleasant day ahead…
Chip
July 26, 2012 at 12:52You’re a brave man @appie, and I think you’re right … but I don’t have the balls to follow you on this one just yet. If this hour closes below 1.2300 I’m with you.
Appie P
July 26, 2012 at 13:09close @2292 (18 pips) Go long @2243 (R3)
sahara
July 26, 2012 at 12:56a few $ coming in gold (a new long 612!! if 614 broken wll broke 1620
Jim
July 26, 2012 at 12:58still long from 2265…..
Chip
July 26, 2012 at 13:02I had a long @1.2261 and I set the sl too tight @1.2254 and it just touched my sl before going up, so I’m on the sidelines for now (my mistake).
Jim
July 26, 2012 at 13:02way too much strength to even consider a short position today… with bets on that the FEDS will ease before Sept and good news out of the EU coupled with extremely oversold conditions the squeeze is just beginning imo
however… I don’t trade my feelings only what I see …so I will exit my long accordingly… for now @b/e
Chip
July 26, 2012 at 13:09My feeling is that this tiny red hourly candle may be a bear trap … just saying.
Johnny
July 26, 2012 at 13:10@Appie, I think you may have made the right move Appie :-) We touched 2315 so far…
The Crab upswing I mentioned days ago in here could well be mistaken by a few pips :-) I am still waiting 2320 anyway for now….lets see?
Jim
July 26, 2012 at 13:18[|B?D
based on what??
Appie P
July 26, 2012 at 13:13For your info: we made a 200+ UP movement last hours.
Chip
July 26, 2012 at 13:22Nice round number … and the EU is stronger for 2 reasons:
- ECB officials declarations (Novotny and Draghi)
- UK GDP drop – most of UK’s trade is with the EU so if the GDP is weaker the Euro is stronger.
Anyway, I don’t think this artificial strenght of the Euro will last for long, because the main issues haven’t been solved and I don’t think there is a solution to the sovereign debt problem (I hate the word crisis), so for those of you who trade mid to long term I think now would be a good time to short the EU.
@appie – I like your trading style :-)
Johnny
July 26, 2012 at 13:14Only a sustain breach of 2320 may bring 2410 insight @Appie (Remember? :-))
Appie P
July 26, 2012 at 13:19yes that was the reason that I closed @2292 :-)
Johnny
July 26, 2012 at 13:18Busy outside for some time…see ya later…
Jim
July 26, 2012 at 13:22This consolidation pattern hints at more upside
We had a big move up with very little retrace…..
more than likely we will drift up and down until the profit taking is over or news comes out…good or bad that will push up or down….
The market is just absorbing right now..
As of right now the market is rallying…… fight it or go with the flow
still long
fwiw
sahara
July 26, 2012 at 13:272H candle said yes @Doc but 4H behind not yet (with daily is more clear for a technical
Jim
July 26, 2012 at 13:28It’s a strange phenomenon with traders…. most people will gravitate to positions opposite what they see….
The reason for this is…
In a down market 90% of retail traders are contrarian and fight the trend all the way to the bottom… after sustaining losses they eventually turn their bias in the direction they have been fighting but…. it’s generally right at the bottom…..so…..
now they fight it all the way to the top and the cycle goes on and on….
Commercial and Institutional traders know this and capitalize on the fears…..
Trade what ya see not what ya think…..
fwiw :)
sahara
July 26, 2012 at 13:37Yes @doc !! we are trading without “guns” !! banks know all orders .. brokers working against us ..traders like us “travelling” “eyes closed”… but how to do in this big field !! since am here i usually said when am green and when am red but sometimes or always i trad to trad and that s why i loose what i win in a lot of trads ..take care all
Jim
July 26, 2012 at 13:30Basically if the horse is running in a known direction then bet on that direction… the odds are much better…. just keep sl’s tighter in the early stages
Jim
July 26, 2012 at 13:31If the rally is strong enough pullbacks will be minimal
Jim
July 26, 2012 at 13:33for example… we rallied to 2317… 200 pips with less than a 30 pip pullback…. not hard to figure where the odds are
Jim
July 26, 2012 at 13:35In other words…. going short now is like juggling knives… why would the market turn and run back down now? For what fundamental reason or even technical for that matter?
JMHO and FWIW
Jim
July 26, 2012 at 13:36This is the response phase to the crises… to short we need to see disappointment not good news
sahara
July 26, 2012 at 13:43yes @doc for me i beleive in all of this but i do “different way” perhaps the day i will do as i understand ;my way in trading will change !! the second problem is the psy ; now i accept when i loose and i know if i have to cut a position (red or green) or not but i need much time to be ” a usual way”
Jim
July 26, 2012 at 13:40As a final note to this rant…..
The pullbacks now are on short term profit taking and nervous nellies….
I was short minded all the way from 3250 and closed all my positions almost at the bottom based on
1. extremely oversold conditions
2. Fundamental changes..
I’ll re-short when the disappointment sets in as I am still holding that the euro will go to parity with the $
Watching for rumours building on another ECB rate cut and QE3 changes
Jim
July 26, 2012 at 13:41EOS and have a great day trading….
sahara
July 26, 2012 at 13:44surf ?? beach ??
John R
July 26, 2012 at 14:10Hello everyone. Yes I saw the bulls….but was waiting for USA’s (re)action.
Looks like great places to SHORT at these mighty heights. Layering shorts from 2350 to 2450. But I will be p[lacing longs on USDCHF instead as they are 30% cheaper and gives positive swap for me.
This healthy retracement now can give the BEAR BOMB to 1.1800 another reason.
My reasoning is that today’s EURophia is just about Draghi’s comments. Greece and Italy are still going drop the bomb day after day, year after year.
John R
July 26, 2012 at 14:26“EUR/USD plucks some low-hanging fruit
from ForexLive by Jamie Coleman
EUR/USD has triggered stops above 1.2325, reaching 1.2330 thus far. Another batch lie above the 1.2335 level.
More resistance is seen around 1.2365 where the 50% retracement of the 1.2693/1.2040 decline comes into play as well as chart resistance dating back to July 5.”
In view of this, I think I will start placing my swissy longs when EURUSD hits 2365.
sahara
July 26, 2012 at 14:121620 golden camel !!!!Comment left on:
July 26, 2012 at 12:20
saharaview says:
only golding (was long with aud from S closed
Flag
Reply
#
Comment left on:
July 26, 2012 at 12:20
saharaview says:
trying to bke 1620 !!
Appie P
July 26, 2012 at 14:14short @2325
Johnny
July 26, 2012 at 14:235TP HIT! 2320…Thank you very much!!! And Shorting from same level…..(@Appie Nice small Bearish Crab showed up just below 2330 . Dont know if strong enough but I stick to my plan :-))
GL
Appie P
July 26, 2012 at 14:29Really Well Done !!! Johnny. Ha Ha Ha Market is driven by Johnny :-)
Kobe
July 26, 2012 at 15:04BRAVO!!
Johnny
July 26, 2012 at 14:2703 – 96 and 87 the push ups….
I have to go out again, just came in for short while….See ya later…
Johnny
July 26, 2012 at 14:30@Appie – And if a recall myself (my memory let me down sometimes :-)) I did mention that I would go Short @2320 with final TP @ 2150 :-) Am I right ?
Now out….
Appie P
July 26, 2012 at 14:34@Johnny I understood.
Appie P
July 26, 2012 at 16:01EURUSD H1 Bearish Engulfing Pattern
Jim
July 26, 2012 at 16:34I get the feeling most of you are short term traders only…
Maria
July 26, 2012 at 16:37Yes, I’m getting the same feeling.
Appie P
July 26, 2012 at 16:45The ideas of Mark are usefull for daytraders :-)
John R
July 26, 2012 at 18:07haha. I once was, but I am now SAVED! haha
I’m waiting to join the big boys to short at higher levels. Intra-day is just noise.
yasser
July 26, 2012 at 16:52hi All
i hope all our family doing well, it seems that some have green day and some red day, however this as all know FX market.
i have closed all my long positions and start for long term short positions from 2330 till 24 area
below my broker report since morning but i didn’t get chance to login
EURUSD was able to recover marginally to 1.2171on ECB Nowotny comments. The emboldened bulls were able to fill in of the gap from Mondays open (taking out our short term cap at 1.2140) . In spite of yesterdays bullish correction, we still feel that the downside is vulnerable due to the gloomy news emulating from Europe and solid downtrend resistance at 1.2184 capping demand. Our target of 1.2000 remains undamaged.
Should bullish momentum continue to fade, the first levels of support can be found at 1.2046 (25th July low), 1.2000 (psychological support) then 1.18670 (7th June low), and 1.1772 (30th Dec 05’ low).
The break of 1.2184 ( downtrend channel), would trigger a move to1.2336 (10th & 19th July highs),. The not much supply till 1.2439 (multiple support and resistance in June), 1.2685 (June 19th high & June 20th low), 1.2754 (June 20thhigh), 1.2826 (22ndMay high), 1.2906 (support turned resistance), 1.3066 (8th May high), 1.3081 (gap high), 1.3122 (2nd May low), then 1.3179 (7th May pivot high).
Regards,
Appie P
July 26, 2012 at 17:09Yasser thxs for sharing.
yasser
July 26, 2012 at 17:18Hi Apple how are you doing you welcome at any time
Appie P
July 26, 2012 at 17:26Thxs Yasser. Doing well today. Profitable trades.
yasser
July 26, 2012 at 16:55@ Sahara & Johnny well done it was good day
@Maria good luck to you with new entry as i will be with you this time with shorting EU
yasser
July 26, 2012 at 16:57@ Doc thank you very much for you analyses, comments , it was helpful as usual
good luck to you dear
Appie P
July 26, 2012 at 17:17Bloomberg TV: short the euro on strength
Johnny
July 26, 2012 at 18:02Just back home, preparing some food…
@Doc – Is something wrong Doc? In between your lines today it looks to me you’re having a bitter taste about something (Might be wrong?)
As @Appie already said, ,ost in here are Day traders (Thats why Mark brings out a new signal every day).
But as for me…I had this trade plan already in my mind from the moment the Bullish Crab pattern showed up (Last Friday). So I dont think you can call that day-trading really (Perhaps Week-Trading :-))
I dont wanna grab all my postings back from the past few days, but below you can find a few of them.
I do remember that, when I called (from the lows we have made so far) we were heading back up, many were then still in their Shorts looking for 1,20 and below.
With this posting I certainly do not have any meaning whatsoever and least of all putting my collars up (On the contrary!) But I think I dont have to tell you that FX is just not a one way stream. And about the News…well to be frank, most of it I just take with a little bit of salt (As we say overhere), The Media are mostly calling evil over it all. Trust me….Europe will survive as long as Germany exist! I am however not to sure about the future of the US :-)
GL to you and again, no special meaning here….!
Comment left on:
July 19, 2012 at 18:26
johnny says:
@Piphut – Thanks for the intraday update Mark.
I certainly dont wanna ignore your bearish view and know better (That you’re mostly right :-)) But for the time being I keep my Long in (If you dont mind) and wait for the re-test of the earlier made highs and will see what happens there?
Recently we have made higher lows and it could be that there is a nice Bullish correction going on and further coming up.
Germany approved the Spanish bailouts and keeping my one eye on the Gold chart and the S&P 500 and have a feeling we soon will touch 2300 again. (May regret it all later on? :-))
Have a good night ahead.
Comment left on:
July 19, 2012 at 19:35
johnny says:
I will soon be going off to sleep.
I have a Push Down @ 2320 which I will set as 1TP for now on my running Long. This may be touched during asian hours? SL is @2210 (for now).
Then I will place a Buy order @2340 with 1TP2360, 2TP2390 and 3TP2410.
And we will see it all by tomorrow
GN All
Comment left on:
July 19, 2012 at 20:02
johnny says:
Ok guys, gonna leave you (Shall I also place a Sell order around 2320/30??? Just cant ignore our master can I??? Let me see…..????)
Have a good night and maybe seeing you tomorrow early for a little while….But dont think I have time to be trading whole day tomorrow. Very busy Grrrrrr :-(
TC & GL
Appie P
July 26, 2012 at 18:38Yes Johnny mostly trading on the contrary makes the pips (feeling much adrenaline). Indeed wrong/fake information in the media is the big enemy for investors. It puts investors on the wrong foot.
Johnny
July 26, 2012 at 18:42Hi there @Appie. Lets see if it willing to come down a but. As I mentioned here above Im short from 2320 and aiming 2150 as final tp.
But I would be careful around 2220 though! (If we will get there?) cause I am expecting a bounce up from there back to 2300/20 (And maybe higher?) from there! So I have just set my 1st TP at 2220 :-) Lets see.
Having dinner…see ya later…
Appie P
July 26, 2012 at 20:59@Johnny set TP @2230
Johnny
July 26, 2012 at 18:43Error = A but = A bit !
Maria
July 26, 2012 at 18:44Well either way in swing trading, whatever timeframe you trade, you will at some point be caught on the wrong side when the wind turns.
I personally find it’s just important in the end of the day to make more money than what you lost, so if the swing has provided couple thousand good points then taking couple hundred on a turn does not kill anyone.
I’m still unsure about if we have actually turned or if we will need one more lower test before, but a test of higher range downtrend 1.255-1.285 will be required at some point before further decline in my eyes. I’ll observe until I see some further confirmation/have more time for the market before re-entering either side.
Appie P
July 26, 2012 at 19:07Maria 1.255-1.285 coming weeks (summer flows)?
Appie P
July 26, 2012 at 18:52Bon appetit Johnny. Have my short @2325 TP=2253. Will see to change TP.
Appie P
July 26, 2012 at 21:21TP=2230
BeMoreWild
July 26, 2012 at 19:34Strongly agree with Maria…as Olympics have just started GBP will be a bit strong against dollar for coming weeks we can see miracles….as safe trading is wished n advised:)
JoooOooooHny good to c u:) now atleast u cant say that u dont get praise:) this is right time for mid term shorts till 2160…
Appie P
July 26, 2012 at 19:54History repeat as in 2008 Olympics?
Maria
July 26, 2012 at 20:24Guys, I don’t predict the price, I just trade whatever comes and as said I need confirmation that this turn is starting, we don’t have that yet. I also don’t predict in what timeframe things are moving, just take whatever comes.
Appie P
July 26, 2012 at 20:31Ok Maria you have no plan now.
Appie P
July 26, 2012 at 21:09Tomorrow BIG party (birthday) no full trading. Wish everyone Good Dreams. TC GN GL
Chip
July 26, 2012 at 21:11Happy birthday @appie, enjoy your party!
Appie P
July 26, 2012 at 21:16Thank you @Chip, will really enjoy.
Appie P
July 27, 2012 at 06:42GM All. I expect higher prices for Gold / Silver in August. Supporting E/U?
sahara
July 27, 2012 at 06:46gm @appie !!!http://www.youtube.com/watch?v=3Xpeami317s
Appie P
July 27, 2012 at 07:03Thank you @Sahara. Funny HaHaHa Enjoy it :-)
Chip
July 27, 2012 at 07:21Good morning @all!
A technical analysis I have watched today said it would be a good idea to place a buy limit @1.2340 with target @1.2400 area, the logic behind this being that if we reach 1.2340 it means 1.2320 resistance is broken and we should go further North.
It’s just an idea and honestly I took it with a grain of salt, because at 14:30 CET we’ll have the US GDP release and if we go below 1.5% estimate I think the market will build more hopes about QE3 but if we have a reading above 2% (unlikely but still possible) QE3 hopes will vanish and the big downtrend may resume …
I wish you all a great friday!
maher17
July 27, 2012 at 07:498:30am (NY Time) US Prelim GDP q/q
Forecast 1.5% Previous 1.9% (Final Q1 GDP)
DEVIATION: 0.2% (BUY USD/JPY 1.7% / buy NZD/ USD 1.3%)
The Trade Plan
We are looking for a deviation between 0.2% ~ 0.3% from the forecasted figure of 1.5%. Therefore if we get a 1.7% on the second quarter (Q2) 2012 GDP, it would be US Dollar positive. We will BUY USD. However, if we get a 1.3% release or worse, then we would be SELLING USD. We’ll be looking to trade this release based on my Retracement Trading Method; since this is a high impact release, strong market volatility is expected immediately after the release.
I’d recommend to use the Recommended Pair above as it is based on my strength meter by pairing up the best currencies in the event of a better/worse news… or you can just use the default pairs for this news: USDJPY or EURUSD
We’ll be trading this release using an after-news retracement method.
Chip
July 27, 2012 at 08:04Thanks for your insight @maher17!
maher17
July 27, 2012 at 07:52you welcome all