week 3

[cowpip 10]

Thanks, Buk. That makes a whole lot of sense. It's sometimes hard to think that way when you see such a positive news print. The print itself sometimes obscures clear thinking. Yet another item learned tonight. It never ends, does it? This is significantly more complex than any chess game I ever played. Lol.

[Buk 10]

no problem Cary......well it pitched back to the pivot & looks like it'll now settle into the higher low range easing into the NY Open & ahead of the 8.30a.m Empire print........

 

they've closed out the shorts on the shunt of the main pivot, price is holding it's mid-line & appears to be absorbing the supply up at this mornings high zone......

 

long legged doji just printed on the 240m, with 30m doji printing above the pivot also.....no need to hold onto the shorts when those babies begin showing their hand....specially not on strong mid-frame behaviour!

[Buk 10]

No wonder Buk calls you the scalping Queen (the noun that popped into my head was significantly more omnipotent than "Queen," let me tell ya)!

 

ohhhh, there are often the odd alternative descriptive bursts far too sensitive for general consumption Cary LOL.......

 

don't go heaping too many platitudes onto her desk, I'll have to re-arrange the door frames to incorporate her swelling head measurements.......

 

good that you booked some profits on your position - you never quite know where they'll sling price when it begins threatening prev highs, especially ahead of tricky data.........

 

I've been caught many times holding decent profit trailing positions only to see sharp kickbacks snatch them off the table........it's always a grudging acceptance that we need to leave a little on 'open risk' to test the intent........trouble is, judging just how much & how far back to allow them to lay!

 

these damned instruments can spin & sprint on a dime.....

[torero 10]

Interesting areas here. 9621 was critical breakdown but this channel makes it a conflict. I'm going to sit tight and see how the prices leads to give me an idea which pattern it wants to follow.

 

[cowpip 10]

ohhhh, there are often the odd alternative descriptive bursts far too sensitive for general consumption Cary LOL.......

 

don't go heaping too many platitudes onto her desk, I'll have to re-arrange the door frames to incorporate her swelling head measurements.......

 

LOL! I come from a family of 6 myself (3 sisters), and like you - I'm the only brother, so I can sympathize what that'd be like. For me, their head size doesn't swell - mine just automatically shrinks! lol...

 

trouble is, judging just how much & how far back to allow them to lay!

 

these damned instruments can spin & sprint on a dime.....

 

Isn't that the truth! They can clean out stops in a real hurry if you're caught with your pants down.

[torero 10]

Looks like EURJPY in ascending triangle breaking out the to the other side. Watching for rally to short here.

 

[torero 10]

Short here from the bear flag breakdown. Next support is 6542, a bit tricky but we'll see. I'm measuring the bear flag target if it breaks next support here.

 

[pipMonster 10]

Very nice pattern call outs on the above charts, Torero!

 

I hope your trades do well for you. Thanks for your input on the forum. I'm picking up quite a bit from your style of trading.

[torero 10]

Glad you're finding it useful. I try to keep it simple despite not seem to be. Either they work or they don't.

 

I'm still waiting for the downturn to of the EURJPY to go short.

[torero 10]

Looks like this thing threw a curve ball. I didn't see a chance to short but I was asleep when the breakout to the upside occurred. Now sit and wait for pullback.

 

[torero 10]

Here's the monthly chart of USDJPY, looks like it's break the long-term downtrend.

 

 

 

On weekly, the picture gets clearer with an inverted HnS at play. I'm still watching the long term resistance 121.39 area. If it get past this level, and make its first pullback, I'll be looking for a long entry there.

 

[Anna-Maria 10]

It's pulled back 38.2% of the days shunt, currently snoozing at the 121.20 level torero.

 

Looks like it'll sniff the big weekly fugure @ 122.0 if the $ boys get their way.

 

Some pretty heavy supply lurking up yonder though, so that could well see one or two fist fights!

[torero 10]

I wasn't expecting the resistance on USDJPY to roll over and die seeing how important it is. Prices didn't hold above very long.

 

I'm still short EURGBP but heck it's slooooooowww. Almost 12 hours holding and it moved 5 pips.

[Anna-Maria 10]

$/Yen still contained within the 23-38% boundaries of y'days H-L so far torero huh? Today's Pivot also shouldering it into today's close.

 

The Franc is the only one which has offered (us) a clean trigger thus far today, popping off our favored 78.6 of y'days activity, but it's still well blanketed within the week long slop underneath 2500.

 

A sluggish end to the week by the looks.

[torero 10]

I'm not stopped out EURGBP so I'll hold it over the weekend. This is the farthest I've gone with futures or forex, holding over the weekend. Going where no torero has gone before LOL.

 

Have a good weekend all! With luck we'll have little less conversation (news) and little more action (volatility or trends) next week!