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Wallace Euro Trades
- Thread starter Wallace
- Start date
thanks Tsing Tao
for Dec 20 session
DaytoDays trading
M: Down
W: Up ?
D: Up ?
4H: Up
60: Up
a longer than usual ramble is in the attached pdf together with charts
Oanda and Alpari NY/MT4 demo say no holidays closings, regular trading hours -
check Your broker. CME Globex: http://www.cmegroup.com/tools-information/holiday-calendar/
Analysis: 3:00pm
when I look at the Daily I can't help but wonder if the price is going to form the right
shoulder of what turns out to be an H&S
my original analysis for today was this would be a Down week, now I've reversed my
opinion and thinking Up, or at least Mon should close Up
if the price rallies up to Friday's H-L rf 50 it will go to 1.3245 which is above the lower
61 it could also through the week rally back up to Friday's H in series of waves that would
resemble the left side of the price, stretching out to the declining lrc by Friday which
contains the Nov 30-Dec 13 rally, and why not, holiday week, shouldn't be anymore
PIIGS doo-doo coming out for a while, and save the Sell for the New Year
charts: D . 4H . 60
for Dec 20 session
DaytoDays trading
M: Down
W: Up ?
D: Up ?
4H: Up
60: Up
a longer than usual ramble is in the attached pdf together with charts
Oanda and Alpari NY/MT4 demo say no holidays closings, regular trading hours -
check Your broker. CME Globex: http://www.cmegroup.com/tools-information/holiday-calendar/
Analysis: 3:00pm
when I look at the Daily I can't help but wonder if the price is going to form the right
shoulder of what turns out to be an H&S
my original analysis for today was this would be a Down week, now I've reversed my
opinion and thinking Up, or at least Mon should close Up
if the price rallies up to Friday's H-L rf 50 it will go to 1.3245 which is above the lower
61 it could also through the week rally back up to Friday's H in series of waves that would
resemble the left side of the price, stretching out to the declining lrc by Friday which
contains the Nov 30-Dec 13 rally, and why not, holiday week, shouldn't be anymore
PIIGS doo-doo coming out for a while, and save the Sell for the New Year
charts: D . 4H . 60
Attachments
Subscribed.
Here is my take on EURUSD.
"Permanent debt crisis tool" is due in 2013, that's 2+ years for PIIGBS to last afloat? I doubt traders will think that to be realistic. I am guessing here by suggesting that Germany told others they will bail out other countries, but in the mean time they need to expand export sector with help of weaker Euro, hence no immediate solution has been agreed upon.
<img src=http://i56.tinypic.com/2j1mycw.jpg>
Here is my take on EURUSD.
"Permanent debt crisis tool" is due in 2013, that's 2+ years for PIIGBS to last afloat? I doubt traders will think that to be realistic. I am guessing here by suggesting that Germany told others they will bail out other countries, but in the mean time they need to expand export sector with help of weaker Euro, hence no immediate solution has been agreed upon.
<img src=http://i56.tinypic.com/2j1mycw.jpg>
for Dec 21 session
DaytoDays trading
M: Down
W: Down
D: Down
4H: Down
60: Down
My 5am CL took about 25m to complete so that's not too bad, and I got a good Buy
signal off the 60 analysis; about the same amount of time this afternoon
last night the 6E was too thin and I stopped trying to trade it. this morning I got up
at 4am but after a late Sat night, late sleep-in Sun morn, and only an hour's nap on
Sun night.
between about 7 and 9am I made 15 6E demo trades, gross profit $1075.50 and
net profit $728.00 , 10 wins 5 losses, av length of trade 6.3mins. the high totals are
due to making a couple of 'rogue trades' mainly to recover losses and gain a profit,
where I went as high as a 4 contracts trade. I had fxt, mt and nt open and it was a
bit of a struggle at times moving back and forth between them, and 'time outs' when
updating the charts in mt, so missing some potential trades. don't know if using 2
monitors would make a difference. fxt was actually redundant, should have closed it.
I was using a 10sec chart in nt and I think that setup is workable to use my system
to trade the 6E. but nt is just Not as practical, fast and efficient to operate/use as mt
so nt alone can't be used, mt Has to be the base for trading my system, which would
apply to any other charting program that can't match or better mt
crashed about 9:30 this morning and didn't wake till 3:00 this afternoon, don't know
if I'll be tired enough to get to sleep early tonight, I'm sure as 'ell not moving back east
Analysis: 4:30pm
obviously yesterday's 'analysis' - huh ! was crap, should have stuck with the original
on the ms Daily, the price has been travelling down that outer .618 sec since Nov 19
and yesterday's L was down to the white 76 cf, so if it breaks that it's more downside
since the price is about midway between the 61s and 76s I'll say Down
DaytoDays trading
M: Down
W: Down
D: Down
4H: Down
60: Down
My 5am CL took about 25m to complete so that's not too bad, and I got a good Buy
signal off the 60 analysis; about the same amount of time this afternoon
last night the 6E was too thin and I stopped trying to trade it. this morning I got up
at 4am but after a late Sat night, late sleep-in Sun morn, and only an hour's nap on
Sun night.
between about 7 and 9am I made 15 6E demo trades, gross profit $1075.50 and
net profit $728.00 , 10 wins 5 losses, av length of trade 6.3mins. the high totals are
due to making a couple of 'rogue trades' mainly to recover losses and gain a profit,
where I went as high as a 4 contracts trade. I had fxt, mt and nt open and it was a
bit of a struggle at times moving back and forth between them, and 'time outs' when
updating the charts in mt, so missing some potential trades. don't know if using 2
monitors would make a difference. fxt was actually redundant, should have closed it.
I was using a 10sec chart in nt and I think that setup is workable to use my system
to trade the 6E. but nt is just Not as practical, fast and efficient to operate/use as mt
so nt alone can't be used, mt Has to be the base for trading my system, which would
apply to any other charting program that can't match or better mt
crashed about 9:30 this morning and didn't wake till 3:00 this afternoon, don't know
if I'll be tired enough to get to sleep early tonight, I'm sure as 'ell not moving back east
Analysis: 4:30pm
obviously yesterday's 'analysis' - huh ! was crap, should have stuck with the original
on the ms Daily, the price has been travelling down that outer .618 sec since Nov 19
and yesterday's L was down to the white 76 cf, so if it breaks that it's more downside
since the price is about midway between the 61s and 76s I'll say Down
for Dec 22 session
US GDP Wed 8:30am EST
DaytoDays trading
M: Down
W: Down
D: WWs still Down - but an Up ?
4H: Up for 3 or 4 bars ?
60: Up ?
Analysis: 4:00pm
4H currently sitting on some sdcs, and wondering if the price will base, if so the
rally may go to 1.3118 a 38 of the H14:30-19:30 rf, 50 at 1.3132 , also watch for 1.3150
otherwise the 76 is down around 1.3030
thinking about Wed being UP, Thur Down, Fri UP, but not necessarily Daily going
to Up bars, more the 4H, thinking being influenced by the 4H 'left shoulder'
couple of very good signals off the CL yesterday
I'm starting to look at if using the CL will provide a 'best trade strategy'
the CL information's coming off the charts of course but the CL is concentrating
'fact-thinking' about the price movement from the accumulated system components
rather than speculating about waves in order to determine price targets
US GDP Wed 8:30am EST
DaytoDays trading
M: Down
W: Down
D: WWs still Down - but an Up ?
4H: Up for 3 or 4 bars ?
60: Up ?
Analysis: 4:00pm
4H currently sitting on some sdcs, and wondering if the price will base, if so the
rally may go to 1.3118 a 38 of the H14:30-19:30 rf, 50 at 1.3132 , also watch for 1.3150
otherwise the 76 is down around 1.3030
thinking about Wed being UP, Thur Down, Fri UP, but not necessarily Daily going
to Up bars, more the 4H, thinking being influenced by the 4H 'left shoulder'
couple of very good signals off the CL yesterday
I'm starting to look at if using the CL will provide a 'best trade strategy'
the CL information's coming off the charts of course but the CL is concentrating
'fact-thinking' about the price movement from the accumulated system components
rather than speculating about waves in order to determine price targets
some changes
- if 'views' are individuals reading the thread once, then less than 10% download the
attached charts, so I'll no longer post charts.
- I'll also drop fibos, secs, etc from the analysis.
- based on last weekend's pdf downloads, Nobody's interested in my 'ramblings' and
I can only say that I'm shocked, shocked, and will no longer ramble.
- I'm going to try for 3 updates per session:
1st: around 2-3pm PST - H23:00/00:00
2nd: around 11pm PST - H08:00
3rd: around 5am PST - H14:00
- will be trying to post a price target and a time target - time using HXX:XX since this
is universal for *most mt users. *some brokers may be using a different server time
- for update notification 'subscribe' - bottom left and "receive an email whenever a
new post is added to this thread . . ."
Analysis for Dec 23 session: 3pm/7pm:
possible low of 1.3103 - 1.3097 ? at H05:00 ? rally begins again at H06:00 ?
high of 1.3135/40 ? at H08:00 ?
a possible run up to 1.3150 ???
several US reports at 5:30am H14:30 , notable Jobless Claims
today is the last trading day of the week for all non fx markets
- if 'views' are individuals reading the thread once, then less than 10% download the
attached charts, so I'll no longer post charts.
- I'll also drop fibos, secs, etc from the analysis.
- based on last weekend's pdf downloads, Nobody's interested in my 'ramblings' and
I can only say that I'm shocked, shocked, and will no longer ramble.
- I'm going to try for 3 updates per session:
1st: around 2-3pm PST - H23:00/00:00
2nd: around 11pm PST - H08:00
3rd: around 5am PST - H14:00
- will be trying to post a price target and a time target - time using HXX:XX since this
is universal for *most mt users. *some brokers may be using a different server time
- for update notification 'subscribe' - bottom left and "receive an email whenever a
new post is added to this thread . . ."
Analysis for Dec 23 session: 3pm/7pm:
possible low of 1.3103 - 1.3097 ? at H05:00 ? rally begins again at H06:00 ?
high of 1.3135/40 ? at H08:00 ?
a possible run up to 1.3150 ???
several US reports at 5:30am H14:30 , notable Jobless Claims
today is the last trading day of the week for all non fx markets
Analysis for Dec 23 session: midnight
currently no clear signal
difficult to call here, possibility the price will drop to around 1.3122 at H10:00 , a
correction before a new high, possibly up to 1.3215-1.3250 , which seems too Large
a run to occur before the end of the session; could the price carry on up from here ?
possible the price drops to 1.3090 then begins a rally during the Friday session
then there's the possibility the price goes to 1.3182 from here
currently no clear signal
difficult to call here, possibility the price will drop to around 1.3122 at H10:00 , a
correction before a new high, possibly up to 1.3215-1.3250 , which seems too Large
a run to occur before the end of the session; could the price carry on up from here ?
possible the price drops to 1.3090 then begins a rally during the Friday session
then there's the possibility the price goes to 1.3182 from here
Analysis for Dec 23 session: 5:15am
bit late so a brief update in advance of the Jobless Claims that they 'May' be more
positive than expected and will therefor provide a reason for the euro to decline
first target is 1.3003, lower 1.2987
price may decline into the close, or base to the close once a low is established
bit late so a brief update in advance of the Jobless Claims that they 'May' be more
positive than expected and will therefor provide a reason for the euro to decline
first target is 1.3003, lower 1.2987
price may decline into the close, or base to the close once a low is established
For Thur Dec 24 session 5:00pm
a toughie.
overall a possible series of up and downs range, a Lot of sideways, a low to the
1.3100 area by H4:00 ?
- and guesstimating being blown out of the water by 28 pip drops in a couple of secs
with immediate reversals, not to mention the possibility of taking a hit, and increase
in the spread, currently 4pips at Oanda
although the price didn't close at 1.3091/88 , perhaps there'll be a slower decline to
a similar low until H5:00
a toughie.
overall a possible series of up and downs range, a Lot of sideways, a low to the
1.3100 area by H4:00 ?
- and guesstimating being blown out of the water by 28 pip drops in a couple of secs
with immediate reversals, not to mention the possibility of taking a hit, and increase
in the spread, currently 4pips at Oanda
although the price didn't close at 1.3091/88 , perhaps there'll be a slower decline to
a similar low until H5:00