Comment by Peter jcp on November 16, 2012 at 7:23am

Morning Rao-  agree with your two very important support areas for us to watch during the London session - 1.2745 ( the band 2740 -48) and the 1.2728 ( on my charts band 2726 -31).

My scalp buys would kick in at lows - but would only feel comfortable to stay with if they go back over 2764 and  2778 - then would expect over 2800 again.

Under 2726 area - could be a different ball game as it all depends then on the strength of major supports around 2690 -2700.

Have a great day 

Regards 

Peter

Comment by Rao Khassan on November 16, 2012 at 10:43am

UPDATE> As EURUSD continued sliding down during the European session and posted low of 1.2724, the most important level to watch now is hourly 100MA @1.2728. If we get this hour closed above it, buying euro remains intact. If we close 1H/4H lower, then we should consider another trading scenario.

Comment by Peter jcp on November 16, 2012 at 12:58pm

The 2728 support you mentioned Rao as held for now after a tease low of 24. Ideally need over 2750 and supports holding over 2735 now for a try up again to test resistances at 2765/ 70 and above. Was going to send you my tick after mentioned in chat - but did not end up as a clean rise from first bounce so this chart shows it better over last 2 hrs ;-)

Comment by Peter jcp on November 16, 2012 at 2:00pm

We did not make a test on 60-70 area and struggled just over 2750 to 2753 and a double top on lower frames. Now scalp selling again to see if supports hold for another try up or not ??

Comment by Rao Khassan on November 16, 2012 at 2:08pm

Hi Peter,

Thanks a lot for your comments!

I've also chose 52 level as a sticky point, as there meet two resistance lines starting from yesterday evening's decline. As we can see, EURUSD didn't manage to break it from the 1st attempt.

Now pair fell back to new support lines in 34-38 area. Here I start buying again :)

I'm sorry for the messy chart really!

Comment by Peter jcp on November 16, 2012 at 2:22pm

Not as messy as mine though ;-) and I can follow yours as well - those 2 up trendlines are where I was targeting on scalp sell with it being important that 30-34 holds. I had been looking to sell from over 65 initially and then scalp buy again over 45. US market now opening so hopefully this next hour we will see if we are going to try higher up again

Comment by Rao Khassan on November 16, 2012 at 2:24pm

So we started our way back up. I see immediate stops at 55-58 area.

Comment by Peter jcp on November 16, 2012 at 2:34pm

I am still watching to see if 30-34 will hold now - as if they let go - it may be another try at lows.

As I am typing at critical point - for me now over 45 scalp buys - under 30 might have to hold sell 

Good Luck 

Comment by Peter jcp on November 16, 2012 at 3:02pm

Still LH's and LL's Rao at moment ie - 53 - 51 - 46 -42 -39 highs and 38 - 34 -28 lows and now trying under 2724 

Comment by Peter jcp on November 16, 2012 at 3:03pm

Gone

Comment

• ‹ Previous
• 1
• 2
• Next ›
• Page