Yes, The 3rd resistence will be 1.3084, but im sure it will drop after touch my 3rd resistence point =)

Good luck to you then

With FOMC announcement last night and everybody expected more easy money, most were already pricing in for EU to go up, which it did. THere are also quite a number of people shorting but guess where shorters would put their stops? Right above 1.3100. Of course 1.3100 is a round number and would be defended but shorts are definitely in danger of being taken out if EU goes above 1.31.

Volume is low now but those waking up to early morning Euro/London open with Nikkei up 1.7%, I'm putting my money on longs making a run for stops above 1.31.

This post has been edited by sleepwalker: Dec 13 2012, 12:49 PM

good experienced traders. It is true. There wont be any news for EUR nor USD till 9.30 pm so i guess it will proceed to go up. Might even break highest today.

so u banggla?

The run to 1.31 failed at London open by 1.1 pips (on some brokers it actually made it past 1.31 but no stops were triggered). Very well defended and almost back to pre FOMC levels. The selling in EUR/CHF is putting a damper on things in EUR/USD in the London session. Lets see what the US session can do.

This post has been edited by sleepwalker: Dec 13 2012, 06:25 PM

Came back down but breached the 3rd resistance he mentioned. I guess if his stoploss is 1.31 it was taken out as well

Stopless are usually placed a few pips above any round number to avoid getting hit like this. You do not want to put a stoploss exactly on any round number as there's always a difference of 1-3 pips between brokers. Also the defence of the round number is not always 100%. Sometimes the round number will get hit but not trigger the stops a few pips away and then reverse. That is why you do not put stoploss exactly on round numbers just to be safe.

hahaha, my analysis is correct!! but I'm not sure will be continue to drop?

This post has been edited by BeyondAlen93: Dec 13 2012, 08:01 PM

EU at least it should reach 1.3125 tonight or tomorrow...

this is the final important resistance it should reach..before more bearish after this..

and......... that would make a quadruple top from all the way back to Sep.

Yup indeed, just wait & see...

my strategy is to open position if it breakout the pivot level...

what i see now..the trend is still bullish...

just wait & wait for the sweet time..

Just missed 1.31 by 1.4 pips, almost a repeat of this morning. Good thing about defenses like this is that there's plenty of pips to be made. It's like taking candy from a baby.

Now the EU is moving up bull this morning...let see if it can reach the 1.3125 or break above it...

or again we just taking candy from a baby..if the market retrace again

just wait for the best moment to open sell post...

This post has been edited by Shah.Legno: Dec 14 2012, 10:31 AM

Guess what... with your 1.3125 quadruple top on daily and my 1.31 forming a quadruple top on 15 mins chart.. this is going to be interesting. It's going to be one hell of a spike if it breaks through both of these barriers.

any idea on GOLD ??on whether it will break below 1690 or not ..

absolutely this will be a great spike...if what we predict will happen..

very interesting to see...

??

are u understand what is this thread all about ?


This post has been edited by kevler: Dec 14 2012, 04:50 PM

Now EU made another retracement only...but it reach 1.3118 new high..

so slow..but the unpredictable move can happened to market every friday, so just beware...

Well.. barrier broken.. and somebody gunning all the stops all the way to almost 1.3140.