Forex Signals – EURUSD Joy Ride
Wednesday PRO Update – The *new* PRO Dashboard has now become the default PRO Dashboard, though you can still access the old one here. We also released theNew Candlestick Guide which now covers ALL candles that are used in CandlePRO earlier this week. Check it out if you haven’t already!
For the rest of the week we will be re-doing all the help articles, publishing the video tutorials and working on the new “false breakout” feature. Stay tuned and, as always, send us your feedback and suggestions at support@piphut.com!
Recap: Price bounced around yesterday taking our long for a bit of a joy ride. First price rose to 1.2329 putting our long almost 50 into the profit. Price then dropped and bounced along support for hours, setting off several proximity alerts that, if broken, would have caused us to close out and get short.
Instead we are still sitting on our long from 1.2271 which is about 35 pips in the profit at 1.2310 at the current time. Given the lack of follow through in the bullish direction we will close out at current price for a 35 pip profit.
Today’s Important News Events:
| Date | Time (UTC) | Event | Forecast | Previous |
|---|---|---|---|---|
| Wed Aug 1 |
14:00 | USD ISM Manufacturing (JUL) | 50.2 | 49.7 |
| 18:15 | USD Federal Open Market Committee Rate Decision (AUG 1) | 0.25% | 0.25% | |
| *To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar. | ||||
Trading Idea: We are still tracking the rising support from yesterday and will look to get short on a support break with targets at 20/20/20/20 for 80 pips profit.
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smile
August 1, 2012 at 06:04GM @all. Thanks for the new signal Mark. GL @all
Need Pips
August 1, 2012 at 06:31thank you Mark :)
Ranjeet Kaur
August 1, 2012 at 07:20does it mean to put a post?
Appie P
August 1, 2012 at 06:58GM All. GN Mark, thank you for your fresh idea. Sahara you get right today?
Sampson
August 1, 2012 at 07:02This is a sure bullish trend in the pot.
ttom
August 1, 2012 at 07:11Hey Mark, stopped by to say hello~~
sahara
August 1, 2012 at 08:05hi @ttom so glad to see you in area !! how are you !!! we missed you !!
PipHut Team
August 1, 2012 at 17:10hi @ttom, glad to see you are still alive and well. Stop in any time :)
Naresh
August 1, 2012 at 07:37hello sir, i am new to this forex and to this site as well…can u let me know how to enter the trade….how to decide whether i should go long or short….
sahara
August 1, 2012 at 08:04hi @all
Ranjeet Kaur
August 1, 2012 at 08:08can some one please tell me when to put a post?
doc1
August 1, 2012 at 11:59whenever you care to… jump right in and speak your mind :)
Johnny (from PocketPc)
August 1, 2012 at 08:31@Appie & @Jenny – We bounced off nicely overnight from 2280 (as per my comment here below from yesterday :-))
Now we need a break of 2340, if that level breaches I may still see my 2410 after all.
Staying around/above 2280/2300 would be nice. Diving below 2250 not :-) Lets see?
I am out off here again for now….Just wanted to let you know. GL
Appie P
August 1, 2012 at 08:51As always I appreciate your view @Johnny. Thanks for letting know.
Johnny (from PocketPc)
August 1, 2012 at 08:58Comment left on:
July 31, 2012 at 17:51
johnny says:
@Jenny @Appie – Something wrong with posting my comments, have placed 2 or 3 comments just before….Anyway, came in here today to reply to FXraider and see what happened…Not my intention…Will be off again…
I ve mentioned this in my comment just before….I dont think we have to expect anything from the FOMC meeting tomorrow…They will just go in hide and wait mode (till their next meeting) and be looking to ‘the day after’ when Superman Super Mario will open his mouth, by then it will be up up and away…..
Just trusting my Bullish pattern on the Weekly (Maybe only showing on my charts?) which may surprise all of us later in the week?
There is good support around 2280 from where I will expect another bounce up (in case this goes down a bit) its just below somewhere there where I have my sl.
Off for now….GL to you and may be we’ll meet again?
vidafeliz
August 1, 2012 at 08:34tp 1.2250
Harry
August 1, 2012 at 10:08Hi all
Nice bullish bar but no follow through – agree with Johnny about eventually reaching 2400/50
Harry
August 1, 2012 at 10:12cable was the one to trade this morning – fell off a cliff
AKINOLA TEMITOPE
August 1, 2012 at 10:31please mar4k i dont understand how to really use this signals..since they re not coming out to me directly.am a long time trader but it is not too clear to me.pls help me
PipHut Team
August 1, 2012 at 17:12Hi @kentoppyfx – the quickest way to get answers is to email us at support@piphut.com.
We do send out emails with exact entry price (at S/R breaks) and we give our TP for every trade. Here is a basic summary of how it works:
In the daily analysis we say which trades we are looking for. For example we might say “we are looking to get short on a support break”. We then email you when the support break happens so you can enter if you wish. The Daily Analysis is how WE use the S/R system – other alerts are sent because different traders use the other alerts for their different systems. SL always starts at 50 pips and the TP levels are given under the Daily Analysis tab (usually 90 pips).
Does that make sense? If we don’t say we are looking for a particular break in the Daily Analysis then we don’t take the trade – that simple.
Here is a more full writeup:
http://piphut.com/trade-with-piphut/
Thanks,
PipHut team
doc1
August 1, 2012 at 11:17This is a repost
Hope this helps with today’s FOMC meet
These are some of the FED and ECB options and the probable outcomes on each option
For the FEDS
1. Change Guidance 2014 to 2015….. mildly bullish….50% probability
2. Lower interest rate on Excess Reserve…. mildly bearish… 10% probability
3. Use the discount window for a lending operation.. strong bearish….10% probability\
4. Introduce QE3 …strong bearish… 5 % probability
5. Introduce new stimulus mix…. strong bearish… 20% probability
6. Expand Operation Twist..neutral…5% probability
For the ECB
1. Cut benchmark rate …mild bearish… 80% probability
2. Reactivate the SMP Program… mild bullish… 20% probability
3. Introduce LTRO3…strong bullish..20% probability
4 Back a banking license for ESM… mild bullish.. 75% probability ( this will probably not occur following Merkels’ latest statement saying the Banking License is not the Germany’s way)
5 ECB Quantative Easing Asset Purchases…strong bullish… 5% probability
6. Euro zone offers joint effort with ECB… strong bullish… 20%
7. Do nothing… strong bearish… 20%
As we can see there are many options with differing outcomes so it is best to adopt a wait and see attitude before taking a short term position
sahara
August 1, 2012 at 11:24WAIT and see means :1)surf 2°) a cup (by 10) of cold beer 3 ) meet a new friend (girl or a guy) 4) watch olympic game 5) a travel on desert !! (so hot better wait ) 6)……hope a nice holidays to all camels !!
doc1
August 1, 2012 at 11:53:) sounds good to me except I have no desert to stroll in
Patrick
August 1, 2012 at 11:45short aud usd tp 80 pips sl 40
doc1
August 1, 2012 at 11:52Wednesday, August 01, 2012 ⌚07:18 AM
German Chatter Dims Hopes for ECB Action http://t.co/qjCcKzx7 via @DailyFX
doc1
August 1, 2012 at 11:57Not to step on any toes but a word of caution about bullish engulfment
Bullish engulfing candlestick acts as a temporary reversal of the downward price trend. This is also one of the trading setups that I suggest you avoid. Why? Because the primary trend is downward. The bullish engulfing candlestick reverses that trend, but only for a short time. The primary downward trend takes over and price resumes falling.
Trade bullish engulfing candlesticks when the primary trend is upward. Look for a downward retrace in a rising price trend for the best chance of success.
Obviously, if you agree with this, then the best chance of success in a downtrend is a bearish engulfment on a retrace or correction
fwiw..
sahara
August 1, 2012 at 12:03Bullish Engulfing
Bullish Reversal
A bullish engulfing is a two-candle pattern. The pattern should occur after an uptrend, and the second candle of the pattern should “engulf” the first candle – opening at or below the close of the first candle and closing above.
This pattern signals potential bearish exhaustion and the start of a new uptrend.
Mongoose
August 1, 2012 at 12:24I have learned that a bullish engulfing has got more merit when it occurs at the bottom of a downtrend. (according to a well known teacher Steve Nissen) What doc said about the main trend has got a lot of merit.
sahara
August 1, 2012 at 12:33yes you mean nison !! he likes doji too !!
Mongoose
August 1, 2012 at 12:43Yes sorry i spelled it wrong Nison
doc1
August 1, 2012 at 12:04Exactly except when the primary trend is upward
sahara
August 1, 2012 at 12:20i prefer doji or a ss after a uptrend for reversal ! and hammer for a down trend .. to hope a reversal
doc1
August 1, 2012 at 12:05Wednesday, August 01, 2012 ⌚07:33 AM
German government says the cabinet in unanimous against an ESM banking license.
doc1
August 1, 2012 at 12:19ADP release better than expected 163k vs 121 expected
Short EU @ 2298 sl open
Johnny
August 1, 2012 at 12:29There are 3 push ups 87 – 74 and 57, of which the first one to me seems quite a stronghold and has proven itself already. Lets see how strong?
Johnny
August 1, 2012 at 12:34The above was addressed to @Appie
doc1
August 1, 2012 at 12:49lol … out…
Markets not ready to move….
jennifer
August 1, 2012 at 12:54Thanks for the updates.
AKINOLA TEMITOPE
August 1, 2012 at 12:54please send the real signal to me.i dont understand this signal s you re sending dailly.am already fused off
Johnny
August 1, 2012 at 12:54@Appie. Gotta go to the Airport. Will be back in abt 3 hours. GL
Appie P
August 1, 2012 at 13:58@Johnny Thxs. Take your time.
Johnny
August 1, 2012 at 12:57Tui Appie. There s à push down coming in at 2344. Im gone now
Appie P
August 1, 2012 at 13:55Many Thxs @Johnny !!
Will go short @2340
Harry
August 1, 2012 at 13:52I’m long and hope 12400/50 by tomorrow
sahara
August 1, 2012 at 16:30hi all
Johnny
August 1, 2012 at 16:59@Appie – Already back home from airport trip. 2290-87 and 80 are the push ups for the moment, and 2344 still the push down. We may probably be ranging between 2280-2330 until Mario opens his mouth? Anyway, 2280 is good support but if breached then there s 2250 that will hold any further slide and push it back up again. It would be nice to get a close above 2340/50 either today or tomorrow. If we will close above 2340/50 (remember the push down layus at 2344 :-)) then without any doubt we ll be seeing 2450.
Looking at my charts, and of course depending on the outcome of tomorrows news, longer term I am already seeing 1,27 coming insight. I am clearly seeing a bullish reversal. Lets see if the Bull pattern on the Weekly will not disappoint us? (My view only!)
GL
Appie P
August 1, 2012 at 17:55@Johnny – Thank you very much for your clear coherent view. Long E/U @2230 will be very great :-). Will go long E/U @2290 for scalping until @2330.
Johnny
August 1, 2012 at 17:05@Pipsqueek – Hi there Jenny, just only now saw your comment….Hope you’re doing fine. TC & GL to ya….
I m out of here again…
Ranjeet Kaur
August 1, 2012 at 17:06would this mean to put short?
PRO Alert
***************
Pair: EURUSD
Type: Support break
S/R Level: 1.2304
Alert Price: 1.2294
Alert Time: 2012-08-01 16:34:58
and to exit would be proximity alert?
i am very confused as how this works
PipHut Team
August 1, 2012 at 17:15Yes, we got short on a support break today. Have you read any of the help articles?
Here is a basic summary of how it works:
In the daily analysis we say which trades we are looking for. For example we might say “we are looking to get short on a support break”. We then email you when the support break happens so you can enter if you wish. The Daily Analysis is how WE use the S/R system – other alerts are sent because different traders use the other alerts for their different systems. SL always starts at 50 pips and the TP levels are given under the Daily Analysis tab (usually 90 pips).
Does that make sense? If we don’t say we are looking for a particular break in the Daily Analysis then we don’t take the trade – that simple.
Here is a more full writeup:
http://piphut.com/trade-with-piphut/
Also you will get a quicker response at support@piphut.com
Thanks,
PipHut team
sahara
August 1, 2012 at 17:36Grrrrrr !!! like me yesterday !! i have not read “correctly” the signal !! was waiting when the R or S will be broken ! and you had open a long in 2271 area !! this is camel with a lot of sun and a bad key 3G !!!
sahara
August 1, 2012 at 17:21all “fire” outside in 30 mn ??
Ranjeet Kaur
August 1, 2012 at 17:37Thanks for the info
If you don’t mind please tell what does Proximity Alert means,
sahara
August 1, 2012 at 17:42alert is usually 10 pips before our Resi or Support “price ” ex if R is 2315 we will receive an alert that we are near R when price is 2305 !! the same thing for a support if it s at 2217 for exemple the alert will be sent when price is 2227 !! hope it s clear with camel language
sahara
August 1, 2012 at 17:43we do not entry in this alert but when it s broken (always!!
Ranjeet Kaur
August 1, 2012 at 17:46okay, so just to be clear
support to go short and resistance to go long ?
sahara
August 1, 2012 at 17:48yes !! pls go here :How to Trade with CandlePRO
Next (Trend Trading) >
sahara
August 1, 2012 at 17:50better to “learn” this in piphut when y have time…..All “Learn Forex” articles
Forex Signals Glossary
How to Succeed in the Forex Market
Learn Forex #1 – Money Management the PipHut Way
Learn Forex #2 – Support and Resistance
Learn Forex #3 – Win more trades
Ranjeet Kaur
August 1, 2012 at 17:50the problem was when I got this signal today early morning my time:
Pair: GBPUSD
Type: Resistance break
S/R Level: 1.5671
Alert Price: 1.5681
Alert Time: 2012-08-01 08:19:06
I went long, but the price turned down and got a big loss
then saw proximity alert and I was thinking to close as per that email but it was already too late
sahara
August 1, 2012 at 17:53but few mn after !!2012-08-01 08:28:04 Resistance Proximity Alert 1.5671 1.5661
2012-08-01 08:19:06 Resistance break 1.5671 1.5681
Ranjeet Kaur
August 1, 2012 at 17:56yeah….
okay, please bear with me..
if i follow Learn Forex #2 – Support and Resistance
in the first picture above support line there is a up blue arrow, would that not mean to go long?
sahara
August 1, 2012 at 18:00usually yes ! have not follow gu today !! there was “a false brk out” and tne price go below blue line (below short !!
sahara
August 1, 2012 at 18:20hope with eu you are ok !!
sahara
August 1, 2012 at 18:16pipppppppppppppppppssing !!
sahara
August 1, 2012 at 18:19a few tp 2240
need pips
August 1, 2012 at 18:22Nice!!
Ranjeet Kaur
August 1, 2012 at 18:22yeah few of it, but when I went big with gu I got burned :)
sahara
August 1, 2012 at 18:31if you have followed with candels it was clear here 30 mn http://imageshack.us/photo/my-images/837/2323q.gif/
jennifer
August 1, 2012 at 18:26@johnny, What say you? I just missed all this action not sure why the sudden drop, I guess thats what happens when you leave the computer for a few minutes or more…lol
Maybe next time…
need pips
August 1, 2012 at 18:29I hope none of you got tagged by that move…
Johnny
August 1, 2012 at 18:31@Jenny, It has gone below 2220/30 and thats a confirmation (to me!) that we go up from here…Its short and medium term Bulls ahead….I just went Long @2240…. Most of this news was already priced in, the big surprise comes tomorrow (NFP on friday is peanuts by then) Lets see :-)
Johnny
August 1, 2012 at 18:33Error= It has not gone….
Appie P
August 1, 2012 at 18:40I agree Johnny. New long @2236.
Appie P
August 1, 2012 at 18:32Protection SL=2278 both positions @2230 and @2290 :-)
sahara
August 1, 2012 at 18:35it was a nice ss !!2271 (8h !!
Appie P
August 1, 2012 at 18:44Congratulations Sahara !! You are right :-)
jennifer
August 1, 2012 at 18:32Not I. Sell triggered at 2298 TP at 2240…Lets see if we bounce…
need pips
August 1, 2012 at 18:32i love when a plan comes together..
jennifer
August 1, 2012 at 18:34@Johnny, I figured as much. Just went long @ 2235. Lets see if those Bullies come out to play…
jennifer
August 1, 2012 at 18:3550 pip SL for now.
Appie P
August 1, 2012 at 18:36@2236 long
sahara
August 1, 2012 at 18:39so early for camels !!
Ranjeet Kaur
August 1, 2012 at 18:37so far candles are burning me probably till I learn them :)
sahara
August 1, 2012 at 18:38yes good idea friend !! learn and learn and learn !!! when you finish learning ………………………learn again
need pips
August 1, 2012 at 18:40Johnny I am glad you are still here.. I remember when you first showed up… Pipsqueek It is good to see you to.. I haven’t posted here in a while but I am glad to see Mark is still going strong.. Mark I don’t know if you remember me but I started with you back in 2010 and you have been a great teacher.. I don’t know if you ever got those Olive Garden Gift cards I sent you but I hope you did…
Ranjeet Kaur
August 1, 2012 at 18:40some times I just wonder what am i doing here and next moment I get more close to it
need pips
August 1, 2012 at 18:41There was another gentleman From South Africa I think that had posted pics of a house he was restoring.. If you are still here I hope you are doing well to..
Johnny
August 1, 2012 at 18:46Hendrik??? :-)
Good to see you back Need Pips….I turned from a full supporter into a silent watcher lately :-)
need pips
August 1, 2012 at 18:53Thats right, Mr Hendrik. He was a cool guy as well.. I hope he is doing good..
jennifer
August 1, 2012 at 18:42Hey there, @need pips. Nice to see you as well. I still haven’t gotten my Olive Garden Gift cards…just in case you were wondering…LOL!
need pips
August 1, 2012 at 18:48Lol.. I would love to take all of us out to the OG.. That would be fun.. Back when I was going through a hard time losing my job and all I started looking and found Mr Mark. He has basically taught me all I know about forex ( well losing a ton of money also taught me a lot ) but mostly Mark.. This is an awesome place to learn.. The addition of the candle signals was good as well..
need pips
August 1, 2012 at 18:43gbp trade working out very nicely as well
doc1
August 1, 2012 at 18:47Same old story… dovish FED rhetoric yet no real plan of action…. accommodation
if needed but never what the criteria to accommodate is specifically… this leaves markets to drift as there is still hopes for QE3
We’re now left with the ECB rate decision tomorrow….
doc1
August 1, 2012 at 18:48lol @silent supporter :)
Johnny
August 1, 2012 at 18:53Maybe better turning into a Full Watcher ?
sahara
August 1, 2012 at 18:48closed a 2232 from high!!
doc1
August 1, 2012 at 18:50I say from 2200/30 we’re off to 2450-2500 then we continue on the down trend again
need pips
August 1, 2012 at 18:51close 2230 target hit… wow that was a nice feeling…
doc1
August 1, 2012 at 18:52congrats :)
need pips
August 1, 2012 at 19:13thank you doc1..
Appie P
August 1, 2012 at 18:56Kiss @2221
sahara
August 1, 2012 at 18:57let s kiss below 22 !!
Johnny
August 1, 2012 at 19:08You already had enough to drink :-)
sahara
August 1, 2012 at 19:09with this sun i need !! the double !!
Johnny
August 1, 2012 at 19:12Driving aint easy with camels with their belly’s on the ground parking in the middle of the road
sahara
August 1, 2012 at 19:02arget hit !! (for signal today …………..Support break 1.2304 1.2294
Johnny
August 1, 2012 at 19:0980?
sahara
August 1, 2012 at 19:11yes !!
Johnny
August 1, 2012 at 19:12JW?
sahara
August 1, 2012 at 19:13only water !! grrrrrrrrrrrrrrrrrrrr because of ramadan !!
Johnny
August 1, 2012 at 19:18See, thats why you trade so good nowadays (because of ramadan), by drinking pure water….I ll bet those days it went against you you were sippin secretly from the bottle? Keep drinking just only clear cool water, its the best for health and trading.
sahara
August 1, 2012 at 19:21still now ! but schuuuut dont say it
sahara
August 1, 2012 at 19:15i had a order sell 9840 from days in usdchf ??? !!!
doc1
August 1, 2012 at 19:168 thoughts to ponder :)
Number 8
Life is sexually transmitted.
Number 7
Good health is merely the slowest possible rate at which one can die.
Number 6
Men have two emotions : Hungry and Horny. If you see a gleam in his eyes, make him a sandwich.
Number 5
Give a person a fish and you feed them for a day. Teach a person to use the Internet and they won’t bother you for weeks, months, maybe years
Number 4
Health nuts are going to feel stupid someday, lying in the hospitals, dying of nothing.
Number 3
All of us could take a lesson from the weather. It pays no attention to criticism.
Number 2
In the 60′s, people took acid to make the world weird. Now the world is weird and people take Prozac to make it normal.
And The Number 1 Thought
Life is like a jar of Jalapeno peppers–what you do today, might burn your a*s tomorrow.
- – - and as someone recently said to me:
“Don’t worry about old age–it doesn’t last that long.”
sahara
August 1, 2012 at 19:20i like number 3!!
jennifer
August 1, 2012 at 19:20Clearly by the market’s reaction, participants were looking for more from the Fed as equities and commodities sold off initially, however the real benefactor was the U.S. dollar as no QE means no money printing. Presently, the USD is higher by around 50 pips relative to the Euro, Sterling, Swiss Franc & Aussie, and approximately 30 pips stronger relative to the CAD, NZD & JPY. All else being equal (which is hard considering there is the BOE & ECB interest rate announcements tomorrow as well as Non-Farm Payrolls on Friday), this should lead to continued USD strength over the coming sessions.
Hmmmmmmmmmmmmm???? (Taken from Forex.com)
Johnny
August 1, 2012 at 19:26Yep Jenny, they may be right? But I keep having faith in my weekly bull pattern :-)
Still think we will see 2450 before we will see 2150…but FX moves mysteriously as you know :-)
jennifer
August 1, 2012 at 19:25Number 1 Is so true. I recently ate a ghost pepper (said to be the hottest pepper) and it burned me in the ass for sure…..LOL
doc1
August 1, 2012 at 19:26B?D
doc1
August 1, 2012 at 19:25So far it’s been a knee jerk reaction with no follow through….. 2200… 2230 and 2175 are support
The euro is clearly finding support as the disappointment at no new QE3 should have pushed us deeper towards 2175/2200
However Big Ben’s dovish rhetoric left investors feeling like there’s still hope ( more QE3 is coming that’s for sure but the big ? is if it’s before the elctions or after. Only the members of the boy’s club know)
Probably the Asian session will tell us more
jennifer
August 1, 2012 at 19:29I am on the bull for now, tightening up my SL. Just a waiting game from here…
Johnny
August 1, 2012 at 19:37I am soon off to Pete’s and hoping to play a bit of bull down there if? See it all come tomorrow.TC
Appie P
August 1, 2012 at 19:52Ok Johnny. There is no kisses under 2220.
Sleep well and tommorow kisses to new heights:-)
doc1
August 1, 2012 at 19:37GL… gonna be a struggle
jennifer
August 1, 2012 at 19:47Anyone in here on Facebook? Looks like Mark started a page but never finished:(
PipHut Team
August 1, 2012 at 19:50haha that about sums it up :). It’s on the todo list but never quite jumps to the top of the list
Johnny
August 1, 2012 at 19:59@Appie – Just pulled my shoes on to go off to Pete’s and have a drink….Then this Bullish Butterfly jumped up @2220 on the smaller TF….Lets see? ;-) I am off to have some cool ones now…
Appie P
August 1, 2012 at 20:08Here enjoy a good drink … also mineral water (mined in the mountains).
sahara
August 1, 2012 at 20:11grrrrrrrrrrrrrrrr !! but with this sun better to be with water!
Johnny
August 1, 2012 at 20:05@Appie – Not gone yet…found this one interesting :-) We had an Inverted H&S just now and touched the right shoulder just now here @2220 (If I am not mistaken?)
On 24 July you will find the Inverted Head @2041….Do you see it on the Hourly???
So…Lets see now this one has done its duty ? :-) Now cool ones, lots of them please :-)
Appie P
August 1, 2012 at 20:18Yes I see it on the hourly. Yes this one has done its duty. That is so beautiful … patterns in forex let themselves know :-)
Johnny
August 1, 2012 at 20:08The left shoulder is on 13th July with a low @2162….Looks a nice one to me….Blame myself for not having seen it earlier….Cant have all hence on deck all times……Bye!
Chip
August 1, 2012 at 20:10Long @1.2225 tight sl @1.2216 tp open for now …
small risk for a possible big reward, let’s see
Appie P
August 1, 2012 at 20:21Welcome @Chip Let the North Train starting :-)
Chip
August 2, 2012 at 05:27Thanks @appie, closed my long just now @1.2247 and will re-enter the market after I hear from Mr. Draghi.
Appie P
August 2, 2012 at 06:27Happy @Chip that your SL=16 was not kissed :-)
Chip
August 2, 2012 at 06:41I was lucky … 1 pip away – that was close :-)
Johnny
August 1, 2012 at 20:10Better gonna take some beers out of my own fridge in a moment? According to me the Inv H&S has done what it had to do and 2220 is the turning point now….Lets go all the way up now (longer term 1,27)!
Johnny
August 1, 2012 at 20:12@Piphut (And Pete can wait for this) What you say Mark (What I just mentioned here above)?
Appie P
August 1, 2012 at 20:20@Piphut @Mark are listen to you @Johnny
No comment :-)
PipHut Team
August 1, 2012 at 20:28About taking beers out of your fridge? I’m all for it :).
About EU.. we are still short-term bearish on the pair based only on the medium term downtrend and lack of bear follow through above 2330. 1.24 is our key mid-term pivot – if bulls can get above that level then we see 1.27 as the next challenge.
Johnny
August 1, 2012 at 20:33Thanks…Now off to Pete’s :-)
Johnny
August 1, 2012 at 20:16Btw. You may even get the picture on M30, shows it clearly too (on my chart that is)
Johnny
August 1, 2012 at 20:22Shows perfectly on H4 now, grab you crosshair (line thing) and you can easily find it back. To me its a perfect I-H&S :-)
Johnny
August 1, 2012 at 20:24Was just watching my charts on all TFs and noticed the pattern when I was about to leave for Pete’s , Grrrrrrr was so thirsty :-(
sahara
August 1, 2012 at 20:43tchin !!! it s a glass of water (written only glass of water ! but it looks like a beer !!
Johnny
August 1, 2012 at 20:27Just for those who would wonder what a I-H&S pattern is:
Definition of ‘Inverse Head And Shoulders’
A chart pattern used in technical analysis to predict the reversal of a current downtrend. This pattern is identified when the price action of a security meets the following characteristics:
1. The price falls to a trough and then rises.
2. The price falls below the former trough and then rises again.
3. Finally, the price falls again, but not as far as the second trough.
Once the final trough is made, the price heads upward toward the resistance found near the top of the previous troughs. Investors typically enter into a long position when the price rises above the resistance of the neckline. The first and third trough are considered shoulders, and the second peak forms the head.
sahara
August 1, 2012 at 20:41@queen !! my friend you can ask any question ! dont care for this !! all of us here we are helpfull piphutters and we are here to help each other !!
Johnny
August 1, 2012 at 20:52Saving some nickels & dimes, took a beer from my own fridge and decided not to go to Pete s any more but soon off to bed. (To late)
Still studying my puzzle…And according to me we have a nice reversal pattern with the I-H&S…And since we have that Bullish engulfing on the Weekly, that I mentioned earlier….I think Super Mario will do it again tomorrow? I feel we gonna see a strong bullish move up once the neckline is breached…
1,27 here I come (Just my view!)
Now finishing my beer and off to sleep…
sahara
August 1, 2012 at 21:03a gartley in 240mn eu @johnny !!!!(2170 can be D too !!
bemorewild
August 1, 2012 at 21:05LoLzzzzz@Super Mario :)
sahara
August 1, 2012 at 21:12here euro yen if any travel pips mbe by hundreds !!http://imageshack.us/photo/my-images/528/euroyen.gif/
sahara
August 1, 2012 at 21:13daily
sahara
August 1, 2012 at 21:19good night all
Dean
August 1, 2012 at 22:04Price coming back to 1.2060,my first target.
Maria
August 2, 2012 at 04:05Good morning,
3/6 positions activated in the EURUSD mid-term long set, lowest entry currently at 1.2230, sustained break (daily) of 1.2150 invalidates.
Have a great day
sahara
August 2, 2012 at 07:12gm @all
sahara
August 2, 2012 at 08:29NO one ??? !! trying a short in area with a sl 2280 area if we can bke 22 !!
sahara
August 2, 2012 at 08:4904:50 EUR Spanish 10-Year Obligacion Auction 6.430%
sahara
August 2, 2012 at 08:52a littel higher !!! 04:50 EUR Spanish 10-Year Obligacion Auction 6.647% 6.430%
04:50 EUR Spanish 4-Year Bonos Auction 5.971% 5.536%
Johnny
August 2, 2012 at 09:20Hi there @Sahara…I am sticking to what I have been mentioning in here last night (See above comments).
We clearly have a Bullish reversal pattern and once the neckline will be breached this will shoot up like a rocket.
Super Mario will bring out his Bazooka today….
2150 is the Key, as long as thats not breached sustainly downward its up up and away…1,24 – 1,27 and even have 1,34 included in my puzzle (of course longer term!)
GL
sahara
August 2, 2012 at 09:27hi @johnny hope will be in this north train with a nice entry !!
Johnny
August 2, 2012 at 09:44@Sahara Always nice to have good company on a travel :-)
120 pips upswing from the lows (2215/20) we made is what my Bull pattern gave me last night as 1TP (Went Long @2240) so you can calculate it yourself :-)
Once the Neckline is breach I will prepare for a rocket upmove with next TP2565 and after that TP2778 for now….Lets see if my Bull pattern fooled me?
Johnny
August 2, 2012 at 09:46Have to go outside for a while, see ya later @Sahara
isa khan
August 2, 2012 at 10:35HI johnny