rassi 

Hi David, Yes I am a Mark Braun fan. I like to use the fibs and PA for levels as well as looking at things with a wyckoff eye. I use the cci sometimes to see which fibs / levels might hold but not as Mark does for entries. Let me know if i can help at all.

Heres an example from the h1 the other day. At that area i would be looking to enter on a m5 chart.

rassi 

Heres an example from the h1 the other day. At that area i would be looking to enter on a m5 chart.

Same deal just now. 5min entry shown.

I know its off topic to the thread but heres dow cash, can see a down reaction was to be expected here.

There is nothing new. I think the chart does make it clear. Barbwire in a range with the risk of spikes.

My plan today:
Don't waste your time. Watch the market only if at the obvious levels and think about a trade at least twice.
Use that time gift to reread some lessons from Steenbarger's "The Daily Trading Coach"

Here is my daily chart:



All the news is bearish but yet we've made higher lows for five days now I think. That also could mean we are "due" for a retracement.

But I agree with @terratec, with the tight range and inside day, caution is probably the best course.

Mike

The more I look at the Euro chart, the more I see weakness.

I would welcome the opportunity to trade the short side of a breakdown below the weekly low, and I think for starters the target would be the monthly low.

Mike

I think everything is possible. Test of the 4000 level or breakdown.

Big Mike 

All the news is bearish but yet we've made higher lows for five days now I think. That also could mean we are "due" for a retracement.

I agree. There is a divergence in my logic and what the market is doing right now too. But who cares?
The news are bearish. But on both sides EUR and USD.
I see the weakness more in what the EU is doing (or not doing) than in the chart.

The fact is that we will have a bigger move after the summit. Not so sure about direction.

That is the short term picture.

As you mentioned (in your next post) monthly low: When I look at daily and weekly charts, there I disagree with you. They do not look that bearish that we should go there. IMO this bigger picture goes to the upside.

Merkel will have a speach (20 mins) about the EU case at Bundestag. Then 90 mins of parliament discussion.
10 am GMT

Could be a bit like "Feel the summit spirit".

terratec 

Merkel will have a speach (20 mins) about the EU case at Bundestag. Then 90 mins of parliament discussion. 10 am GMT Could be a bit like "Feel the summit spirit".

It is a Summit Attack !!!

Attachment 53209

Lolu