I taught on price action the other day, which I said constitutes most of my trading. Remember me saying if gu closes below .6, am selling? good. I entered 2 trades today already. AU has fulfilled its plan, remaining EU.
If the open and close are with the previous bar and terminates at a pivot point, take the tail end as ur stop loss and enter in the opposite direction.
Remember my trade on AU yesterday? Good. this give you authority in trading. Know this alone and spotting trades can make u a very good trader

Where we dey?

EUR/USD INTRADAY: UNDER PRESSURE.
Pivot: 1.2600.

Most Likely Scenario: SHORT positions below 1.26 with 1.2495 & 1.247 as next targets.

Alternative scenario: The upside breakout of 1.26 will open the way to 1.263 & 1.2685.

Comment: the pair remains under pressure and is challenging its support.

GBP/USD INTRADAY: UNDER PRESSURE.
Pivot: 1.5710.

Most Likely Scenario: SHORT positions @ 1.57 with targets @ 1.565 & 1.5625.

Alternative scenario: The upside breakout of 1.571 will open the way to 1.574 & 1.5765.

Comment: the pair remains under pressure and is challenging its support.

USD/JPY INTRADAY: UNDER PRESSURE.
Pivot: 79.65.

Most Likely Scenario: SHORT positions below 79.65 with targets @ 79.3 & 79.2.

Alternative scenario: The upside breakout of 79.65 will open the way to 79.8 & 80.

Comment: the pair stands below its resistance and remains under pressure.

AUD/USD INTRADAY: BULLISH BIAS ABOVE 0.98.
Pivot: 0.98

Most Likely Scenario: Long positions above 0.98 with targets @ 0.9885 & 0.9905 in extension.

Alternative scenario: Below 0.98 look for further downside with 0.9745 & 0.971 as targets.

Comment: the break above 0.98 is a positive signal that has opened a path to 0.9885.

GOLD (SPOT) INTRADAY: THE BIAS REMAINS BULLISH.
Pivot: 1565.00

Most Likely Scenario: LONG positions above 1565 with 1585 & 1599 as next targets.

Alternative scenario: The downside penetration of 1565 will call for 1557 & 1551.

Comment: the RSI lacks downward momentum.

silibaba: Forex Market Review And Upcoming Forex Calendar (May 28 ~ June 1, 2012)


Forex Market Review And Upcoming Forex Calendar (May 28 ~ June 1, 2012) news may28 Turbulence in Europe exacerbated this week as the two summit meetings (G8 and informal EU Summit in Brussels) failed to reassure the market. Traders responded by taking it out on the combined currency as first time in almost two years. Oddly enough, divergence in the Equity market begin to take form as major indices in both Europe and U.S. ended the week positively, although the strength in safe-haven currencies, particularly the USD, added pressure to commodities as precious metals and crude oil remained subdued; of course, concerns in China cooling its demand for hard commodities didn’t help either.

In Greece, recent polls suggested the majority of Greeks want to “remain in the euro zone” but “renounce” the terms of the bailout agreement, leading them to support the anti-bailout Greek party Syriza which is polling as high as 30%. Syriza Party Leader Tsipras once again shocked the market by commenting this week that “Potential for Greece exit from the EMU would destroy the EMU” and “Chancellor Merkel should realize she is an equal partner in the EMU and there are no ‘landlords or tenants’ in the EMU“… Former Greek PM Papademos coined the word “GREXIT” describing the inevitability of Greece exiting the EMU given the increasingly apparent political stalemate surrounding austerity rejections… Most analysts are currently forecasting “GREXIT” in 6 to 18 months.

In Spain, the government is struggling to deal with its regional governments’ deficits and its problematic banking system. The estimated price tag for the Bankia bailout rose from around €4.5B at the start of week to an astounding €19B on Friday. Market perception worsened for Spain and the Euro as new reports out of the wealthiest region in Spain, Catalonia, requesting a government bailout. Catalonia accounts for about 20% of Spanish economy.

In Europe, the preliminary European May PMI data indicated further contraction is underway on the continent, as the Manufacturing PMI reading came in at 45.0 v 46.0e, one of the lowest readings since June 2009, and Services PMI at 46.5 v 46.7e. In Germany, Manufacturing PMI came in at 45.0 v 47.0e, lower than the European average and one of the sharpest monthly drop since June of 2009, while Services PMI came in at 52.2 v 52.0e (slightly better).

In UK, the sentiment of doom and gloom settled in as the Revised Quarterly GDP for the first quarter of 2012 (Q1 2012) came in worse than expected at -0.3%, and the April Retail Sales figure came in at -2.3% v -0.8%, which is one of the worst release since 1997. Meanwhile, Bank of England released its Meeting Minutes and showed that the majority of its voting members felt that BOE’s monetary policy is “finely balanced”, which reminds me of the band playing while the Titanic sunk… BOE is out of touch with reality and the worst thing is that BOE has a track of record of being out of touch… I’d expect further pressure on the GBP as the credibility of BOE come into question.

In Japan, Fitch cut its sovereign credit rating by two notches to A+ (from AA) citing BOJ’s “leisure approach” to its consolidation plans compared to other fiscally challenged high income countries, and that its implementation is subject to political risk. BOE’s Posen chimed in by stating that “there is room left for BOJ to further ease monetary policy, there is no point for the BOJ to maintain self-imposed limits on JGB bond buying…”. On Wednesday, BOJ’s Shirakawa responded during his Interest Rate Press Conference and said “the central bank had no change to its stance of pursuing powerful easing. He added that he saw big demerits to further rate cuts including cutting the 0.5% interest paid to excess reserves and needed to measure effects of easing by interest rates and not by size of monetary base. He did not see immediate risk of BOJ failing to meet asset purchase target. The tail risk regarding European debt woes was at forefront in his opinion”, essentially pointing the finger at Europe for recent JPY strengths and told Fitch and the market to stay out of BOJ’s business, but not in these exact words.

In China, government researcher warned that China’s 2012 GDP growth could dip below 7% and that China needs to adjust its rate policy early. Similar reports last week from China government economists Zhu Baoliang also calls for possible rate cut as early as Q2 of 2012, although his view on the GDP remains the same as the official government estimate at 7.5%. In other news out of China, evidence emerged of cooling China demand for hard commodities, as Financial Times noted local buyers were deferring on delivery or defaulting altogether on shipments of coal and iron.

In U.S., the US April Existing Home Sales number rose for the first time in three months, matching the high seen in the January data. The New Home Sales beat forecast 3 out of last four releases, posting a new high for the year while the University of Michigan consumer sentiment reading came in at the highest level in over four years. Market continued to flow into the safety and the positive fundamental outlook of the USD.

In conclusion, EUR and GBP are expected to be sold off this week, although we may see some limited consolidation like the beginning of last week’s trading, but the overall negative fundamental outlook and the risk of a “GREXIT” remains unchanged; I’d sell EURUSD and GBPUSD on any significant consolidation or rallies. JPY is likely to remain neutral against USD while strong against other majors, I’d only SELL JPY against USD and perhaps sit on the sidelines for JPY crosses as BOJ may step up its rhetoric and keep JPY strength in check. AUD and NZD should remain under pressure, although if China decides to cut interest rate this week, we should refrain from buying, but rather positioning sell trades towards the end of the day as the overall risk aversion momentum should drive the pairs back down… this should be a no-brainer for fundamental traders as the overall market climate remains unchanged. USDCAD is facing a strong support between 1.0300 ~ 1.0400 level, and I believe we may very well see a possible reversal of the pair… of course, if EURUSD falls beyond the 1.2500 level, the sheer strength of a strong across the board USD will probably blow USDCAD through the 1.0400, but if EURUSD were to remain at the current trading range, then we could look to position USDCAD SELL trades. USD is expected to remain strong this week, but of course the focus will be on the NFP release on Friday. Since we won’t have ISM PMI’s to possibly predict NFP release figure, this week’s ADP report on Thursday may play a major role.


The main event for the week is the NFP (Nonfarm Payroll), and
with the current political climate in Europe, I'd believe
that USD may actually get a boost coming into the news, of
course the key to NFP will be on the ADP report on Thursday...


Thanks,

i posted this on sunday this week, keep an eye on it

UK Market News
Iomart Group Plc (-0.18 per cent at 135.00p), released its consolidated final results for the year ended 31 Mar’12. The company’s revenues for the year came in at £33.5mn (2011: £25.3mn), reflecting a growth of 33 per cent with both its Hosting and Easyspace segments contributing to this improvement. Gross profit for the year was £22.4mn (2011: £15.6mn) representing a gross margin of 67 per cent (2011: 62 per cent). Cash flow from operations growth was 36 per cent at £9.6mn (2011: £7.1mn). Profit for the year from its total operations was £6.2mn (2011: £2.9mn).

Renold Plc (+5.53 per cent at 31.00p), released its preliminary results for the year ended 31 Mar’12. The group’s revenue grew by 9 per cent to £209.5mn despite moderate second half performance as its diversified portfolio exposure to North America and the emerging economies offset the challenges in the European markets arising from the Eurozone crisis. The Group generated £14.1mn (2011: £7.0mn) of operating profit aided by increased sales and benefits from cost reduction initiatives implemented. Operating margins increased to 6.7 per cent from 3.7 per cent in the prior year. Profit at the yearend was £6.4mn (2011: loss of £0.9mn). The basic adjusted earnings per share and diluted adjusted earnings per share were 4.2p (2011: 2.0p).

API Group Plc (+2.59 per cent at 59.50p), released its final results for the year ended 31 Mar’12. Revenues during the period increased by 14 per cent to £113.9mn (2011: £100.0mn). Further, the Profit before tax increased by 77 per cent to £5.1mn (2011: £2.9mn). As a result, the basic earnings per share improved to 6.7 pence (2011: 3.5 pence). The cash flow from operations remained strong as it stood at £8.7mn (2011: £8.5mn). Besides, the net debt during the year reduced to £3.6mn (2011: £8.5mn). The capital investments during the year increased by £3.5mn (2011: £1.2mn). The Group's net assets at 31 Mar’12 stood at £21.3mn, an increase of £6.0m (+39.4 per cent) as compared to the previous year.

McKay Securities Plc (+2.55 per cent at 140.50p), released its results for the year ended 31st Mar’12. The net rental income from investment properties as at 31st Mar’12 was £13.99mn (Mar’11: £14.74mn). Adjusted profit before tax stood at £5.00mn (Mar’11: £5.10mn). EPRA Net Asset Value during the period grew by 2.7 per cent to 229p per share (Mar’11: 223p). While, the basic net asset value per share fell to 162 pence, mainly on account of the 37 pence reduction in the value of hedging instruments. The Borad has recommended a final dividend of 5.7 pence per share (2011: 5.6 pence), taking the total dividend for the year to 8.4 pence per share (2011: 8.3 pence). At the end of the period, the Group's net debt stood at £97.92mn (2011: £95.18mn).

VP Plc (-2.67 per cent at 237p), released its final results for the year ended 31 Mar’12. Revenues grew by 16 per cent to £163.6mn, a record turnover figure for the Group. This revenue increase translated into operating profits before amortisation of £18.5mn, an increase of 12 per cent over the prior year. Operating margins reduced slightly from 11.7 per cent to 11.3 per cent largely reflecting the change in mix of the divisional results. Basic earnings per share pre-amortisation and exceptional items, increased by 18 per cent to 30.8 pence (2011: 26.1 pence). Proposed final dividend of 8.25 pence per share, an increase of 7.1 per cent, making a total of 11.35 pence for the full year (2011: 10.80 pence). Post year end £7.8mn returned to shareholders by way of tender offer.

Pennon Group Plc (+0.14 per cent at 729p), released its preliminary results for the year ended 31 Mar’12. Revenue rose by 6.4 per cent to £1,233.1mn that translated rise in Operating profit by 3.0 per cent to £268.8mn. The net interest payable was down by 5.7 per cent to £72.3mn and profit before tax was up 6.4 per cent to £200.5mn. Finally, earnings per share before deferred tax up by 11.8 per cent to 47.3p. Basic earnings per share decreased from 48.4p to 48.1p Group capital expenditure up 29 per cent to £257.4mn (2010/11 - £199.0mn). Net borrowings £2,105mn, an increase of £171mn since 31 Mar’11. The Group has substantial cash resources and facilities of £1,084mn - well placed in current financial market conditions.

Housing: The housing prices in the UK reported a growth of 0.2 per cent month-on-month in May, while, the same was declined by 0.6 per cent year-on-year, according to data released by Hometrack.

Market Analysis: The benchmark FTSE 100 Index closed higher by 4.81 points or 0.09 per cent at 5,356.34, on escalating concern over the financial health of the Spain’s banking sector, after the government was asked for €19bn in aid from troubled financial institution Bankia in order to strengthen its solvency. Further, a surge in Spain’s government borrowing costs also added to mounting worries about Europe's debt restructuring challenges. This has overshadowed the initial optimism surrounding the latest Greek poll results that showed Greece's conservatives, which supported the country's economic bailout, have regained an opinion poll lead helped eased worries over Greece’s exit from the Eurozone. The Mid-cap FTSE 250 advanced by 97.76 points or 0.94 per cent to 10,515.28, FTSE 350 Index increased by 5.75 points or 0.20 per cent at 2,841.89. The FTSE All-Share Index grew 5.48 points or 0.20 per cent to 2,781.34.

The Week Ahead
• Wednesday: Telford Homes Plc, Straight Plc, HiWave Technologies Plc Phytopharm Plc and Sportingbet Plc are scheduled to announce Results/Updates.
• Thursday: SCISYS Plc, Thomas Cook Group Plc, Halfords GroupPlc, Fuller Smith & Turner Plc and Kingfisher Plc are scheduled to announce Results/Updates.
Today’s Corporate Events
CompanyName
Event
Digital Barriers Plc
Prelim
Topps Tiles Plc
Interim
Energetix Group Plc
Prelim
Datong Plc
Interim
AssetCo PLC
Interim
Director Dealings
Type
CompanyName
Director
Volume
TradedValue
Buy
Home Retail Group
Terry Duddy
160,000 @ 76.87p
£122,992
Buy
CLS Holdings
Sten A Mortstedt
9,233 @ 600.00p
£55,398
Sell
Dialight
Henry Leonard Tee
425,000 @ 955.00p
£4,058,750
Sell
M Winkworth
Simon Agace
50,000 @ 85.00p
£42,500
GBP / USD (10 min)

FTSE100 (1 min)

FTSE 250 (1 min)

next section - back to top
European Market
Germany
Deutsche Bank AG (-0.66 per cent at €29.10): The global financial service provider has been accused by the Indian property developer, Unitech Ltd. for selling an interest rate swap which was not suitable to the Indian company.

Volkswagen AG (+0.45 per cent at €129.18): The German automobile manufacturer’s Audi unit plans to sell more vehicles in 2012 despite some markets being hurt by the European debt crisis.

E.ON AG (-1.78 per cent at €15.25): The utility company’s Romanian unit’s Chief Executive Officer has stated that the company will take decision on whether to develop or sell the company’s wind power projects.

Commerzbank AG (-3.40 per cent at €1.33): The lender’s private customer unit’s head, Martin Zielke has stated that the planning for the possibility of Greek exit from the euro is a very responsible thing to do.


France

France Telecom SA (-0.82per cent at €10.25): The telecommunication service provider has acquired 94 per cent stake of the Egyptian telecom company, Mobinil.


PPR (-0.04 per cent at €118.30): The French luxury goods giant is in talks with the Italian online fashion retailer, Yoox to set up an e-commerce business.


Sanofi (-0.18 per cent at €54.74): According to a study, the experimental drug jointly made by Sanofi and Regeneron, can lower cholestrol levels in difficult-to-treat patients.


Veolia Environnement SA (-1.00 per cent at €9.49): The French utility company’s Chief Executive Officer, Antoine Frerot has informed that the company is planning to double its revenue in China in the next five to ten years, in order to offset declining profit margins in Europe.



Spain / Portugal / Greece

Bank: The Hellenic Financial Stability Fund provided €18bn to Greece’s four biggest banks as part of its recapitalization plan to pay back to European Central Bank for funding.


Pharmaceutical: The hospitals in Spain and Portugal are under pressure as the Pharmaceutical company, Roche Holding AG has made strict policies for collecting the bills which are due for more than two years and has decided not to supply the drugs further, until the payments are made.


Power: Spain’s largest wind turbine manufacturer, Gamesa Corp Tecnologica SA has decided to facilitate Globeleq Mesoamerica Energy with 44 megawatts of power equipment for a project in southwestern Nicaragua.


Engineering& Construction: Spain’s engineering service provider, Isolux Ingenieria SA and Electricity Generation Co. of Bangladesh signed an agreement proposed by Samsung C&T Corporation, the construction and trading arm of South Korea’s Samsung Group to establish a 335-megawatt power plant in the South Asian nation.


Bank: On high growth in bank deposits by individuals, the Governor of the Bank of Portugal, Carlos Costa is of the opinion that the people in the country have regained confidence in Portugal’s financial system.

Today’s economic events
• 10:00 United Kingdom CBI Distributive Trades Survey - Realized (MoM) (May)
• 12:00 Germany Consumer Price Index (YoY) (May) Preliminar
• 22:45 New Zealand Building Permits s.a. (MoM) (Apr)
• 23:15 Japan Nomura/ JMMA Manufacturing Purchasing Manager Index (May)
Indices
Indices
Value
Change
%YTD
FTSE 100
5356.34
4.81
17.42
FTSE 250
10515.28
97.76
58.67
Dow Jones
12454.83
-74.92
37.86
Nasdaq
2837.53
-1.85
73.85
S&P 500 Index
1317.82
-2.86
41.43
DAX
6323.19
-16.75
27.15
CAC 40
3042.97
-4.97
-9.16
Nikkei 225
8651.40
58.25
-4.33
Hang Seng
18943.87
142.88
25.93
Swiss Market
5865.19
12.75
5.99
ASX
4164.90
44.74
13.93
Bonds
Date
Bond
Last %
29/05/2012
10Y Gilt
1.76
29/05/2012
10Y Bund
1.36
29/05/2012
10Y T-Note
1.74
29/05/2012
30Y T-bond
2.84
EUR / USD(10 min)

USD / JPY(10 min)

CAC40(1 min)

DAX30(1 min)

previous section - back to top
US Market News

Market Analysis, On Monday, the US market was closed for Memorial Day. On Friday, the US stocks fell, as participants fretted troubles in Spain where banks are under severe financial strain followed by a possible Greek exit from the euro that weighed on investor sentiment more than an upbeat report on US consumer confidence. The day’s actions also coincided with mixed overnight trading in Asia and lackluster trade in Europe on speculations that Greece may exit the Eurozone. In the early trading, broader market action remained choppy as the stocks struggled to find direction amid a lack of trading catalysts. On economic front, the latest dose of economic data received muted response from the market participants despite improved consumer sentiment reading that came in at 79.3 as compared to the preliminary reading of 77.8, which was greater than the estimated decline to 77.5. As the day progressed, stocks continued to crawl along in a mixed fashion on signs that the Spanish banking crisis worsened, which left the broad market mired near the neutral line. In the final hours of trading, DJIA along with NASDAQ and S&P500 continued to trade with outsized losses due to absence of trade-worthy headlines and the dearth of corporate earnings reports from key industry players. On corporate front, the shares of PetSmart rose after earnings jumped a better-than-expected 34 per cent. The pet-products retailer posted a strong rise in same-store sales and margins improved, and the company boosted its estimates for the year. On the greenback, the dollar rose against the euro, the Japanese yen and the British pound. In the major indices, the Dow Jones Industrial Average (DJIA) closed with a loss of 74.92 points or 0.6 per cent at 12,454.83 and NASDAQ index finished lower by 1.85 points or 0.07 per cent to 2,837.53. The S&P 500 (SPX) closed down by 2.86 points or 0.22 per cent at 1,317.82.


Crude Oil:, Crude oil futures for Jul’12 delivery ended 0.26 per cent higher at $90.87 per barrel and Jun’12 natural gas futures finished 0.8 per cent lower at $2.62 per MMBtu, at the New York Mercantile Exchange.


Bullion:, Jun’12 futures for Gold were up by 0.8 per cent to $ 1,568.80 an ounce, and Jul’11 futures for silver finished 1.1 per cent up at $28.42 per ounce, at the New York Mercantile Exchange.

WINNINGWAYZ: I taught on price action the other day, which I said constitutes most of my trading. Remember me saying if gu closes below .6, am selling? good. I entered 2 trades today already. AU has fulfilled its plan, remaining EU.
If the open and close are with the previous bar and terminates at a pivot point, take the tail end as ur stop loss and enter in the opposite direction.
Remember my trade on AU yesterday? Good. this give you authority in trading. Know this alone and spotting trades can make u a very good trader

i took mine on min-dow

My EU buy finally paying off, locked my pick, anything can happen on the PP of today

lawson007: Tonjoan,Fxking2012,fxwarrior,Blog icon,Prof Edet and Odiaero(or na fxmarket, it is not only time for quarrel you will reply) we are still waiting for your story Sirs.U have no idea how many millions of lives the story of Warren Buffet,Bill Gates,Naijababe,Methodman,frenchman, winningwayz etc and the other veterans that wrote their awesome tale have inspired and are still inspiring.To the glory of God,be an example and an inspiration with your story of how you got where U r today in Fx. Tip: You can be typing while your trade is running.

I am buying UJ again at market price tp 79.63.Join me at ur own risk.

My fx story has a semblance to that of naijababe's. Bear with me, I shall share it with the house but that will be later in the day as I'm neck deep in a project that has taken up lots of my free time.

Fxmarket: My EU buy finally paying off, locked my pick, anything can happen on the PP of today

patiently waiting to sell from PP

samyng:

patiently waiting to sell from PP

me too

Sell EU from 1.2570 for 60 pips, another sell position to be entered at 1.2600 if it gets there for 90 pips TP

selling GU from 1.5710 for 60 pips tp and another sell from 1.5740 for 100 pips.

SL at your own discretion.

@winningways, tnx for your help to newbies in the hse. I have a question. On which time-frame is it advisable to plot the support and resistances that would be used to trade the pin-bar?

and pls, do u hav a pivot indicator? if u do, can u pls send it to me, my email is zizix6@yahoo.com

Close my buy, now waiting on the sideline

honeric01: Sell EU from 1.2570 for 60 pips, another sell position to be entered at 1.2600 if it gets there for 90 pips TP

selling GU from 1.5710 for 60 pips tp and another sell from 1.5740 for 100 pips.

SL at your own discretion.

From what i see, selling today doesn't seem to have an agenda.

Good morning. hope you have learnt the password am sharing. See what happened to EU. forex is a creature of habits. Like I told you guys, I trade very early hours, when the market is naturally beautiful.
see what happened with CHF? it takes guts to post a trade here with authority. Not lost any trade on the 8 trades since yesterday till now. I will also teach the type you trade between 12 AM and 2 AM. May I should codename this pattern ANGELA, its delivers the message like an angel. So, did you see an angela on CHF?
Again, characteristics of angela:
If her head is overshadowed by an orobo, she's got a long ponytail and you saw her on the ceiling or floor,
Thats definitely an ANGELA.

X3n: @winningways, tnx for your help to newbies in the hse. I have a question. On which time-frame is it advisable to plot the support and resistances that would be used to trade the pin-bar?

The time frame should be from 1 hr above

tonjoan:

From what i see, selling today doesn't seem to have an agenda.

Same here... from my own point of view, i foresee EU,EJ going up this week....

tonjoan:

From what i see, selling today doesn't seem to have an agenda.

Bro to be sincere to my chart, i see rooms to short for these TPs i listed. 4HR chart encourages me to short

This is the way I trade. I watch candle chart, my main strategy does not base of on it but Renko and Range bar. Mostly I look for like 20 to 30 pips in a trade and if the market continue in my direction I locked some pips and follow the move. If you look for less pips in a trade you will be able to take good set up not just every set up your system generate.

@fxisreal.....or anyone who suceeded in downloading the tools from from forexincome site, kindly forward the pdf and indicator to my box russy4life@hotmail.com i am having loads of troubles downloading it since yesterday, help a brother pls

X3n: and pls, do u hav a pivot indicator? if u do, can u pls send it to me, my email is zizix6@yahoo.com

Attached is the auto-pivot indicator.
Enjoy

WINNINGWAYZ: Good morning. hope you have learnt the password am sharing. See what happened to EU. forex is a creature of habits. Like I told you guys, I trade very early hours, when the market is naturally beautiful.
see what happened with CHF? it takes guts to post a trade here with authority. Not lost any trade on the 8 trades since yesterday till now. I will also teach the type you trade between 12 AM and 2 AM. May I should codename this pattern ANGELA, its delivers the message like an angel. So, did you see an angela on CHF?
Again, characteristics of angela:
If her head is overshadowed by an orobo, she's got a long ponytail and you saw her on the ceiling or floor,
Thats definitely an ANGELA.

in the chat u posted, where is the angella?

WINNINGWAYZ:
Attached is the auto-pivot indicator.
Enjoy

Tnx so much. God will continue to bless u. forgive my ignorance, but how do I use this indicator, will it automatically appear in my chart once I paste it in the indicator folder or do I nid to do something else?

Rajoy scuppers Bankia bailout optimism

At yesterday's hastily convened press conference Spanish Prime Minister Rajoy poured some cold water over weekend reports of a EUR 19bn bailout for Bankia, claiming that no decision had yet been taken. Rajoy further contributed to the climate of fear and uncertainty by asserting that Spanish banks did not need recuing (a claim which he surely will regret in due course), while arguing that Spain's debt sustainability problem needed to be resolved. He also argued that the EFSF and ERM ought to be able to recapitalise European banks directly, rather than needing to go through national governments. Unfortunately, Rajoy's latest missive only conflagrated existing paranoia regarding Spain's increasingly desperate financial predicament (see below). The Pandora's Box that is the dodgy loans on the balance sheets of Spanish banks is now spilling forth into full view, and it is every bit as bad as many of us suspected.

honeric01:

Bro to be sincere to my chart, i see rooms to short for these TPs i listed. 4HR chart encourages me to short

I see the 1.2600 4hr resistance but i also see that daily is trying to do a pull back on the weekly. We just might 1.27 should the sentiments across Europe abate.

Where are we?