Comment by Peter jcp on January 6, 2013 at 9:07pm

Hi Majimaji - I notice you have 2 buys already on the EU with both in profit atm and you are expecting higher whilst above your 4 hr up trendline.

I can see from other traders as well - even those who are bears they do expect a pullback before a drop with many forecasting back over 3100 and somewhere around the 3150 - 75 area.

I am sure you would be quite happy to pull both your buys at that area if they failed to break resistance  - but just out of interest - would you hold one of your buys if it then dropped below your first entry and then go the sells - or are you expecting if we get up over 3130 + we have enough supports from 3075 to 3100 to keep us up and go on to over 3200?

It looks as though the EW traders expect lower under 3000 after a retrace up and if they are correct I still have the EU in an uptrend on the weekly down to slightly below 2900.

I personally, am neither bull or bear and will be both buying and selling as the waves change after the opens tonight and tomorrow's European Open.

Have a great week Majimaji and look forward to more of your thoughts 

Regards 

Peter

Comment by majimaji on January 7, 2013 at 10:16am

Hi Peter thanks for your great analysis, was holding two trades over the weekend at break even, got stopped out on one entry i had i broken even but holding long from 1.3016 with stop at 1.2980, i believe we are targeting 1.3150/60 where sellers are likely to re-appear before probably the next leg down. I have my tps 40pips apart

Comment by Peter jcp on January 7, 2013 at 10:28am

Hi Majamaji - I think the next clues are whether we do get above say 55 and 75 again - with supports holding over 3016.  No 55+ and under 16 would then indicate down below 3000. GL - regards Peter

Comment by majimaji on January 7, 2013 at 8:16pm

Holding my long but shifted stop t 1.3070 to lock in profit.. targeting 1.3150

Comment