Could have got a better entry but GU still open. You were right about that spike SanJ… I’ll run all my trades past you before I enter from now on! LOL!!! Didn’t think PA had the legs to push through the 55 DNC on the daily!
As much as i’d like to take credit for the prediction, it was actually good old yummy (lol) who predicted it yesterday…
And by the looks of charts so far, that down move could well be next week as everything seems to have fallen asleep… Im lingering on break even at the moment…
The large wicks all look like major distribution / re-distribution to me… Don’t think we’ve had anywhere near the sell off we should have…
I think i’ll end up closing out by the end of today if nothing happens and get in on the move next week, not sure if i trust myself with a weekend gap trade yet lol…
EDIT: Scratch that… Just got stopped out… Oh well, theres always next week eh… I really dont get where all this buying has come from… Everything to me said it was getting ready to drop… Looks like some weekend reflection homework on why this went wrong!
Your not alone… I didn’t get stopped out but ‘bit the bullet’ and closed out.
Took a short at 1.3221 and did a little “reverse philanthropy” but seemed to be going nowhere so closed it for +11. Just a gimme back mah money trade. Not going to hold over the weekend while Euro still seems to be doing its magical levitation trick.
IF anyone one of us had a single ounce of entrepreneurism we’d just bottle the Euro up and sell it as a legitimate alternative to Viagra. Because it just seems to keep going up regardless.
LOL
I think its a large rally up before a major sell off, they took out a lot of stops in the last few days, and i think it may be looking set up to be a longer term high. I think Yunny’s initial analysis will be good, i think Sunday going into Monday will see a final push up - GU to past the 1.6160, clear out any stops there, catch the herd in to think its going long, and then slaughter them slamming the price down…
Lol HoG you got that right. It can’t last forever though. Eventually there’ll be a buyer’s climax and good shorting will occur.
LOL !! Ooooh Vicar ! As much as I’d love to go all the way with that conversation PB, I think it’s time we put it to bed before the mods get the hump, and we end up shafted.
I use a EA to enter trade setups I see forming. I set it during Asia to try and catch as much of the following days move as I can. I live in the eastern US and London open is at 3 am, I have 3 kids and a full time job. So… realistically I miss the best times of the trading day. I made the EA and it works quite well for me. Today it missed the entry long by 2.3 pips 
cant get them all. I did catch 10 or so pips on a little retrace. Used my phone from work for that.
My predictions for next week will hinge on what kind of gap I see come Sunday night. I will not be surprised to see one more stab up to induce some more long trades and make some weak stops to eat before a fall. A gap down to catch the current long stops with a quick rise up past today’s high to get money buying tickets on the long train before a quick U turn is what I expect. Predictions are fun its like trading with no risk.
Hi Shr1k… ^^ Above was Yunny’s analysis on Thursday… After Friday’s aggressive PA to take out some more stops i agree with what your saying, although i think we will get it past the 1.6160 - the high from 31/10/2011… Think that’ll be the next spot a lot of stops will be laying under… I think if price goes that way during Monday’s LO stop raid, I’ll definitely be looking to get in short…
:57:
Just been reading back through the thread for this week and saw this, which I’d obviously missed at the time. Made me smile :).
You’d better be careful though Sanj, I can’t imagine yunny has any objections to being called [I]yummy[/I], but being called [I]OLD[/I] ??? LOL !!
You are to be congratulated on your memory anyway, I’d almost forgot about that …, what was it ST called it at the time…, a “Special Moment”. 
Have a good weekend anyway my friend, and everyone else.
I’ve had this chart on my computer now for nearly two weeks. To be honest I didn’t think it would come in to play so soon, if it does at all, but I thought I would put it up anyway.
White lines are obviously what I’m expecting over all this week, just the when and how is a mystery at this moment LOL.
You can see from this daily chart that I have taken the start of the supply zone to be around 1-33. But if I drop the time frame down to a 1 Hour chart, the start of the zone could just as easily be marked at around 1-3255, or 1-3275.
If my browser wasn’t being such a pain in the back side right now I would post a 1 Hour chart to show this, but for some reason the gremlins are in control right now and it won’t let me do it. If I get it sorted out I’ll post it.
In the mean time I’m looking to short anything 1-3275 up to around 1-33. I think if price got to 1-3280/85 i’d take it.
OK, I know this has absolutely sod all to do with trading, but it is Sunday afternoon and trading has not started yet so I’ll sneak this in. Just introducing Gus to the FX community. Here is the man in question:
Just getting some rest before his debut week at trading
Browser still being a wee bit temperamental right now but I think this should load now. This is the 1 Hour with my supply zone on it.
I think around the 1-3275/85 area will be the one to watch, anything in or around that I think I’m going short. Top of the zone comes in at 1-3390 ish, so obviously I can’t give it that much, 1-3315 would be as high as I’d be willing to let it go. Ultimately I’d be looking for 1-30, however long that may take. But that wold be a test of my own patience as much as anything else !!
Evening everyone!
Before i start, HoG, that is one cute dog! The kids must love him lol… I took a pic and showed my girlfriend, i think she too also fell in love LOL!
Much like you HoG, im also swayed bearish i think for probably most this week, or atleast the first few days so i will only be looking for shorts… This was my analysis for my preferred GU…
The price divergence here shown between EU and GU, shows how GU was able to make higher highs while the EU wasnt. This suggests were looking for some bearish action in both pairs this week i think…
The lines marked are my significant S/R levels based on the higher TF… Market flow looks set up to create a swing high at either fridays price, but i think we may likely get a higher push up in LO tomorrow. My SR level above our current price i have marked as 1.6153. But we have a high at 1.6165 on the 31/10/2011, which we may see a stop raid pushing above there… So ill be looking for an entry to get short anywhere after 1.6150-60ish area…
Good luck to everyone this week :57:
Hi sanj
I’ve had a look at the GU chart, and while I’m the first to admit I don’t know the pair that well, this is my 2 cents on it.
Daily seems to be making a series of higher lows and lower highs going back to 2009. Right now I think the level to watch is 1-6160/65, which as far as I can see seems to be the nearest resistance to current price. Action over Friday does seem to suggest to me that price is in the process of coming off of that level, question is though, how low does it go??
Personally. if it does fall this week, I don’t see it going below 1-59, which I know is quite a drop from where we are now, but I think over the next week or two it will break 1-6165, and as far as I can see from there it’s on up to 1-64.
I was going to write “Mind you, if it does drop below 1-59…” but then I would just sound like the analysts on a lot of FX sites if I did that. As far as I have found from most of these sites, their advice always tends to go something like this:
"It is my opinion that over the next few sessions (note they never tell you how long those “sessions” are ) price may well go up. But if it doesn’t go up, then I am of the firm belief it will go down. However in the short term, there is a good chance it will go sideways for a while before it either goes up or down from the high of 31 BC, and the low of 310 AD. "
So I’ve decided to commit to an opinion. If I’m wrong, then I have no problem in holding my hand up and saying so.
I think you’re right for your bearish outlook this week. I reckon it goes down, but no lower than 1-59, then it goes back above 1-6160 and heads up towards 1-64.
But then again, it might go down…LOL!!
EDIT: Here’s a case in point. Don’t get me wrong, I know these guys are much more knowledgeable than me, but how’s this for a headline from Dailyfx right now.
“US Dollar – Breakout or Breakdown Nearly Inevitable on FOMC, GDP”
Now to me that reads, “The US Dollar is possibly, maybe definitely going to go up or go down, it’s a certainty…maybe ish.”
EDIT 2: Yes Sanj, the kids DO love Gus, and I don’t get it. I asked them to tidy their rooms today and all I got was grumpy faces and tantrums. Gus, on the other hand, PEES on the youngest one, and everyone laughs !! I was sooooooooooooo tempted LOL!!
Looks to me right now Shr1k, as though you’ve pretty much nailed that prediction. Although my trading platform isn’t opened yet, it is showing a gap down in the 1-3175/85 region.
I wrote earlier today that I thought price would wander up to around 1-3275ish before the u turn and I think we will get there through London or NY tomorrow. That’s the area I’m looking to short.
Good luck to every one this week
LOL… Its amazing how they can say so much, but really, not tell you anything at all! lol!
Tbh HoG, so far, i’ve never tried to pick and choose where the longer term trends might lead us - as the space in between now and ‘the longer term’ so much can happen which will pick and change where price is headed… So when i do my top down analysis on the weekends, i look for which direction i think price will be going this week, and once ive got my bias and my S/R levels, ill just play it by the day…
Ive always been one of those, ‘take it as it comes’ sort of person, so in terms of longer term price levels, any comments i make would have no real ground behind them lol…
But yeah, as of now, im bearish this week - or at least the first part of the week, and will see what the charts have to say during the week…
Im also looking at a potential nice setup i think on the GJ… But lets see what the week has to bring us…
Good Luck :57:
Oh don’t get me wrong Sanj, my “long term” predictions have no grounding either, and in fact, quite often they are completely wrong. With that said, I still believe Bros were a much better band than the public gave them credit for. I think it was a disgrace that two obviously talented…sorry… went off on one there.
Like shr1k said earlier, it’s easy making predictions when nothing is riding on them. Would I put any money on GU doing what I said it would??? Think we all know the answer to that one eh?
Lol! So very true…
I actually look forward to going live this summer… Interested to see the impacts of trading real money will have on me…
Anyway, bed time for me if i want to get up in time for the charts before work tomorrow…
Catch you all at LO…
Goodnight!