Comment by Peter jcp on October 14, 2012 at 9:26pm

Excellent analysis for start of the week. Also don't forget the game of a LH under 2992 to fade out weak bulls and similar a HL above 2919 - simply to fade out bears.

Have a great week 

Regards 

Peter

Comment by Pipomatic on October 14, 2012 at 9:41pm

Tnx Peter. Always appreciate your comments.

Here's an triangle "artistic" view on the 4h TF:

Comment by Peter jcp on October 15, 2012 at 6:40am

Hi Pipomatic - your 4 hr triangle view might mean  we are in the "triangle range" for a week or more - which I hope not for the "swingers". Prior to London Open the low as been 1.2890 and now we have what could be a HL at 2896 - depending on the present moves within this hour and how long my scalp buy lasts ;-))

Unfortunately will miss the Open but will be around later in the morning in the "gate" and will be watching to see if we stay above the 2890 and 96 - or go on to try and break up above 2927 and 40.

Failing that its back to tests lower with first main supports for me under 2890 at 2876-85 area and then 2840-45.

Comment by Pipomatic on October 15, 2012 at 7:39am

61.8% fib worked like a charm .. here's the updated trade plan / trade options

Comment by Peter jcp on October 15, 2012 at 8:06am

I have 2955 as present high and if we are going to try over 63 and 65 for another go higher - we now need to stay above the support areas - which for me are 2927 - 42.

Remember 2955 is a LH to 2962 pull back on Friday.The "coil" tighten further whilst a plan is hatched ;-))

Comment by Peter jcp on October 15, 2012 at 11:16am

We have managed to come out the tight range and break 69 to so far try 2979. Next resistances at 82 -85 and of course 92/3 before we would attempt 3000. Supports for me at 69 and 60 then 51 

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