Hi Everyone,
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I am a experienced day trader mainly using price action for trading. I will post my daily analysis, setups on daily basis. Welcome everyone on board. Anyone can post any thing here which can be really useful for both of us.
My First analysis for today. Alright I am more bullish this week. However this is my only view and worse news on EUR specially ECB rate and NFP may drop EUR quickly. I am expecting EUR to reach minimum 1.313X area. However I will wait for price reach to 1.3005 - 1.30025 to long on the retest.
Hey, I saw your reply in the 30pips thread. How was it that you determined 1.31xx level the max level it could determine? My levels indicate atleast 3 levels of retracement with 1.307 being the highest. I am not saying you are wrong. I am just curious as to why.
Hi Elephant,
Thanks for you reply. I am not saying that is the only one level to brake. Remember we visited 1.313X level twice in Sep & Oct. But failed to broke above. That is a major ressistance. Lets see how EU will behave at these levels. We have ECB/NFP combo on the way. Hopefully this will give us a clear direction. Atm we have bullish sign. Good luck with your trading. Feel free to post your thoughts here.
Hello everyone,
I am Longing UJ at this level. Maximum stop loss 15 pips. Targeting 30 pips. Lets see
Seems like EG will reach important level 0.816X level. If this level broke I will surely long with the retest. However in any case EG failed to break above 0.816X level, worth a short till 0.798X.
Long AUD/USD. SL - 15 pips and target minimum 30 pips.
AU filannly broke recent ressistance level at 1.047X. Hence EU also in uptrend that will push AU in the same direction. Lets see.
Seems like price about to take my SL. If that so I will short from that level till 80.43.
Feel free to post your views and thoughts about my analysis and trades. I will update my views everyday
yeaup, it broke through all three of my price llevels which was quiute discouraging. It gave an initial drop making me believe that it was going down. however, it shot up. Right now, on my chart, it is at the top of the pennant. You are intending to short correct?
Can you explain to me how the NFP will affect this pair?
I am sorry to hear that. But don’t worry market will be there tomorrow.This is the year end. So need to play safely. Still we are bullish on the pair.If you have shorts try to keep those with tight SL. We cannot still predict about the NFP/ECB combo. Hopefully ECB will not cut interest rate further this year. Negative NFP may give quick shot to 1.33XX - 1.343XX area which is 2012 Jan - Feb high levels. However positive NFP may drop EURO to next support level at 1.3005 area.
Price broke the important ressistance level 107.60 and may heading to next ressistence level at 111.18.We don’t have major ressistances before 111.18.I think it is good to hold longs and reload longs once price retested 107.60 area.
We are on a important level on UCHF. Pair forming triple bottom. Break below will drop price level to Jan - Mar 2012 low levels( 0.89 - 0.90 ) . To the upside we have next ressistance levels between 0.93 - 0.94
I am still waiting for my target 82.76 to reach. Stops at B.E + 40 pips.
Still No clear signal on the direction. Patiently waiting for clear signal
High influential fundamental news on the way.
GBP MPC Rate Statement / Official Bank Rate - GMT 12.00 PM
ECB Minimum Bid Rate - GMT 12.45 PM
ECB Press Conference - GMT 01.30 PM
USD Unemployment Claims - GMT 1.30
This may finish the Year end run. Play with tight Stop Loss
