Marked up some charts, anyone feel free to comment. Yunny this is marked up for supply/demand levels opposed to s/r which I know you are using. The shaded areas are zones i found on the daily that I tightened up for the 4hr chart, while the open boxes are taken off the 4 hr. The horizontal trendlines mark the asian ranges with gu lining right up with a demand zone possibly turned resistance. I imagine it will act as strong support for today.
38 fib retrace is around 1.6020. Short off Friday @ 6139. :33: Conservatively, PA should reach that but admittedly provisional support is at 6043 area?
Mr. Carter could you elaborate a little more on the fractal trading. I am only really able to enter a trade on the close of 4hr candles, and I am still confused how I could use the fraggle rocks to my benefit.
Im not quite at the skill level of placing touch trades, so if a fractal forms and say i put an order at a retracement level.
No problem being called OLD, you know that with age comes wisdom 
Those areas are almost the same as the ones I have in my charts… 
The first support level in the GU to me is 1.6087 and then 1.6063, I think today price won’t go lower than that
A very early good morning everyone… Just reaching 6am here…
Thought id drop an early morning post, before i drifted off to bed yesterday, the spread’s started to come back down and i took a cheeky short GJ that i was talking about… Was a little nervous as i never usually trade Sunday night, but the opportunity seemed to present itself so i snapped at it…
Woke up this morning finding myself sitting on 53 pips - 2%… Awesome start to the week… I’ve closed out, but will be looking for further shorts during the week as i think its set to fall quite a bit 
Btw… @ R Carter…
I noticed you seem to post quite often late at night, if i remember correctly you said you were UK based?
Late nights, or early mornings? Or is there some Asian range trading secret which your not sharing ?! LOL
Anybody else viewing this mornings down move on both EU and GU as a stop raid and not an actual down move?
Looks like they both just blew out Friday’s LO lows and now stalling… Hmmmm
Yes lol… both! No Asian secret.
I don’t know… all the ingredients for a down move seem to be in place. I’m in short from 1.3175 from a little before LO. Seems like the lower risk trade to be in to me.
Im looking bearish on both pairs too, but charts just not giving me any indication of a good entry yet… Been flat up until now… Think ill be sitting on the sidelines till i see something clearer unfolding to me…
I added to my short at 1.3156 after price stalled out at the 23% Fib retracement. Made it look like a bearish continuation was on the cards. EZ equities are getting a hiding and US futures were looking weak so early NY can give another leg down in these risk off days.
Closed out my LO trade at 1.3130 which is clear support and resistance over the past few days. Leaving the second one run - hoping to get another leg down towards 1.31. There’s option expiries there later for 3pm so if we’re close in the afternoon we might get a push down to there in an attempt to trigger them.
Yeah think that 23% fib retracement was maybe the last chance to get in on a short today unless things turn really ugly or you really feel like chasing it. 1.3070 will be a big level to watch then I suppose if we get another good leg down. Maybe a run down to there and then FOMC turning it all around on Wed with some QE3 waffle could be a runner.
I think were getting a little bounce at the moment… Could by the NY retracement i was looking for… If it comes back up enough ill look to get short, will wait for either 1.6095 on the cable, and 1.3150 on the fiber…
Was looking for something memorable, profound or educational to write for post 1000 gang. But I think a simple thank you to all you guys who regularly keep this little corner of Babypips alive will suffice. You lot are the reasons I keep coming back here, a couple of you,(you know who you are ) are the very reasons I didn’t give up all together when I had my arse kicked on a few occasions.
Cheers gang. HoG
Moving swiftly on, just got home from the hospital and had a look at charts for the first time today. I fear I have missed the move down for today on this pair so I won’t be trading today, unless another pair shows something around NY open that I can see.( not had a chance to look yet )
Up trendline seems to come in around 1-3113, obviously not saying price CAN’T go below that, but combine that with the pair now moving almost 2 thirds of my own daily pip range analysis ( still running approx 154 pips) and I think I will pass on EU today.
NY may well push lower, but I’m looking at the other pairs just now to see what’s going on.
Also just wondering if the drop off from last night around the 1-3186 to 1-3196 now creates a new supply zone in that level
Or is this just grabbing some stops before one final push up??? If only I knew for sure I’d just go ahead and order that Bentley now LOL !!
In fact, if you Fib the drop from last night to now, the 61.8% lies directly on the start of the supply zone marked in 1 hour chart.
So that’s my plan of attack for the pair, wait to see if price pops back up to around 1-3170 and I’ll start thinking about shorting from there. If NY pushes the pair lower, that same plan will actually stay in place
You would have had to been quick but it got near there. Did you chance it or leave it alone? I closed out at 1.3109 after it bounced away from 1.3100. Going to wait for a bigger bounce before looking at another short again if the conditions look right for it.
I’d like to say i did, but i received a skype call from my parents abroad to lecture me about not keeping in touch while im on my placement… By the time i got back to my charts, i’d missed the entry and it was on its way down so i left it and went to the gym to prevent any revenge trading! lol… My GU entry was completely off though, through my fib up on the session high and not the high from before LO…
Ah well, nothing gained nothing lost… I see EU has consolidated right on Friday’s low… Lets see what tomorrow has in store…
I still think this is the way we are going. End of NY, maybe into Asian, I’m looking to short around 1-3175/85. I suppose the fear is that there is still a push up left in the Euro, through this zone, but I’m leaving a sell roughly 1-3180
