EU - Thursday 20th December 2012 - Intraday Trading
Morning Traders - it's nearly Christmas and so in the spirit.
I have posted a Santa Head and Shoulders pattern on my chart from last night and will update during the next hour with levels to watch for.
Yesterday was interesting a new EU high at 3308/9 and then a fall under 3200 last night to 3188.
As normal I will be scalp buying and selling today - and will be watching interim S & R's for some of the next clues.
Over 3265 say a the H & S should be forgotten about - but whilst under 3235/40 it still may be on.
I will keep you updated on trades within every hour - if there are any - but please remember I am short term - but still good targets of even 15 -25 pip can still give me RR's of 3 to 5 - ie very profitable in a short time.
Have a good day - all are welcome to comment with views and charts etc - I might not agree with them - but I might be wrong at times- and so other views are welcome etc
Fifteen minutes to European Open and price at 3219.
R at 3226-30 - which price may try first - and S at 3200 - 3210 - which need to be broken for lower.
Have Fun ;-)))
Regards
Peter
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Comment by Peter jcp on December 20, 2012 at 6:58am -
First quick scalp before the open - failure at 3221 was scalp sell at 19 with targets at support area 3200 -10. Back over 3221 would be into scalp buys.
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Comment by Peter jcp on December 20, 2012 at 7:17am
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Europe Open now and we have the HL's on EU - ie 3205 and 3212. - 3215 was scalp buy to now test over 3221 and try R at 3225-30 area. Any fall again should stay above 3212 atm - so if that went you still have supports at 3205 to 10 - but under would be scalp sells from S in the 3100 area with then 3188 being one.
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Comment by Peter jcp on December 20, 2012 at 7:41am
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Key levels marked on this chart for intraday. Remember we are still in an up channel - but with a few supports already broken last night- its now whether those supports which are now resistance areas stop any rises
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Comment by Jim Mathis on December 20, 2012 at 7:47am -
Thank Peter and good morning
BOj rattled some cages overnight shook loose some stocking stuffers hehe
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Comment by Peter jcp on December 20, 2012 at 7:55am
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Well I am busy ;-) - this scalp sell on chart so far the best with 3212 now letting go and 5 mins to the London Open
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Comment by Peter jcp on December 20, 2012 at 8:01am
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Morning Jim - yes just looked at a few yen crosses - EJ in same set up as EU and needs 110.70 to let go if lower - London's now open so this next hr might show us more clues one they have had a little play ;-)
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Comment by Peter jcp on December 20, 2012 at 8:13am
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Still a HL at 3209 from 3205 and once back over 3212 then scalp buys again.Now trying R at the 3225-30 area
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Comment by Peter jcp on December 20, 2012 at 8:21am
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Comment by Jim Mathis on December 20, 2012 at 8:23am
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Yes peter If EJ can Stay below 111.17-22 ish maybe have a shot lower through 11072 that has also held
stop at 11123 has held so far
NJ seems a lil bit looser and broke 70 round number with shenanigans overnight Tokyo close lets see
Cheers
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Comment by kamdi eloji on December 20, 2012 at 8:55am -
morning peter i agree if it comes down to 3205 and 3212 it is scalp buy but what if it goes above 132345
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