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  • Draghi: I guarantee to not use higher inflation rate to solve debt crisis

    From forexlive.com

    ECB will not intervene in bond markets to ensure solvency of a country Interest rates will rise again once confidence in economic recovery returns ECB has bought fewer bonds than other central banks German tax payer risk significantly lower than 1 year ago Generally a country could become insolvent Speaking to German channel ZDF

I knew when the markets spiked for no good reason that there had to be a Draghi comment coming. I sometimes feel like he is waiting behind a bush...then all of a sudden pops out and makes some statement..
Pipnosis "Mistakes are the portal of discovery." - James Joyce
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Guess that would explain the 50pip rally on EU in the past hour!
Quoting Pipnosis
I knew when the markets spiked for no good reason that there had to be a Draghi comment coming. I sometimes feel like he is waiting behind a bush...then all of a sudden pops out and makes some statement..
He has to make comments like these. Can you imagine what would happen if German Court rules that the OMT is too risky for Germany and says NO. That I believe also explains the resent rally in the Euro. They have to push it up to say to the court that EURO is strong.
Quoting Guest
Guess that would explain the 50pip rally on EU in the past hour!
So explain it to me how it works. Draghi makes a comment and then the Euro starts rising? Who was buying and why? Who was selling and why? If price has such a tendency to fluctuate at a whim is it your view that the market will still be tradable? How do persistent trends occur then? Why are they cyclic? If you can help me out with a cogent explanation I would owe you for life. Thanks in advance.
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It's amazing how many people are still trying to short e/u. It's gone up for 3 straight weeks. As I've said before, 1.2744 back on April 4th was the LOW FOR THE YEAR! Happy Trading

Quoting Loadedgun
So explain it to me how it works. Draghi makes a comment and then the Euro starts rising? Who was buying and why? Who was selling and why? If price has such a tendency to fluctuate at a whim is it your view that the market will still be tradable? How do persistent trends occur then? Why are they cyclic? If you can help me out with a cogent explanation I would owe you for life. Thanks in advance.

I trade price action. You can see the obvious support at the 1.3180-90 area. The market just used Draghi as a pawn to move away from that area. The only thing news is good for is knowing when moves might occur. Doesn't matter what the news is or if it's good/bad...price action will tell you the direction, news just gets it moving that way.
So all the Court Members are blind . they can't see , How EUR is strongggggg OR Court is depend on Draghi
Quoting Marsfx
He has to make comments like these. Can you imagine what would happen if German Court rules that the OMT is too risky for Germany and says NO. That I believe also explains the resent rally in the Euro. They have to push it up to say to the court that EURO is strong.
Sorry this all happened on mars or on earth? Who are they that pushed it up? Who sold to them? Under what circumstances would they push it down? How far would they be pushing it up? Your incredible insights would be most helpful.
Quoting Pipnosis
I knew when the markets spiked for no good reason that there had to be a Draghi comment coming. I sometimes feel like he is waiting behind a bush...then all of a sudden pops out and makes some statement..
You're very close to the truth. When his staff see in their MR models that market has reached amplitude and explodes or is about to explode he puts on his glasses & tie and makes a statement just to fake you they're in control that they are the cause of the move and that by paying interbanking info you can safely know 5 mins before what is going on

If he's tacos busy ATM he lets officer on duty like Amusementsen, Nownaughty or even Dieselboom to do the prophesy
Don't Fight Forces, Use Them.
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he must of caught wind the German court was about to do something unexpected.....
Quoting Loadedgun
Sorry this all happened on mars or on earth? Who are they that pushed it up? Who sold to them? Under what circumstances would they push it down? How far would they be pushing it up? Your incredible insights would be most helpful.
Well it is called market manipulation...from big funds the same ones that they do business with the governments...Are you telling me that in the lsat three days we had...Four major european countries revising down their GDP Growth.. (Germany, France, Italy, Austria)...Unemployment is at all time high...consumption and sales are dropping like rock...Still the :Fundamentals" support strong euro on the assumption that in H2 the situation would be revised!!!!!
Most propably euro will go up but for sure this is not at all based on fundamentals
Quoting Guest
I trade price action. You can see the obvious support at the 1.3180-90 area. The market just used Draghi as a pawn to move away from that area. The only thing news is good for is knowing when moves might occur. Doesn't matter what the news is or if it's good/bad...price action will tell you the direction, news just gets it moving that way.
Thanks for this heart warming explanation - I agree with you completely that volatility tends to phase with news events or more correctly the timing of volatility tends to phase with news and releases. It is also heart warming to note that we agree on the idea that one then reads direction by other means and not the news. I wish you all the best and I am sure you are doing well just from allowing some insight into your approach which I share if not in detail in form. All the best and I hope this is a lesson for some newbies being misled by the idea that fundamentals drive the market or however they tend to put it these days.
Quoting Marsfx
Most propably euro will go up but for sure this is not at all based on fundamentals
Which is my point exactly. Fundamentals as you call it is not necessarily phased with price so why worry about it at all? Given it is often the case it explains nothing you want to know about where price is headed is it not better to find an alternative means of reading the market to trade it and leave fundamentals to gamblers and other such hapless people? At least you know that the market moves by a mix of factors of which fundamentals is just a part if at all so I assume you have the skills then to profit from such a wonderful (and might I add useful) insight. I do not think that ignoring fundamentals completely is a bad idea in view - given that whether or not it is in play there are ways to read the market and profit handsomely. Cheers and thanks for responding.
Quoting Loadedgun
Which is my point exactly. Fundamentals as you call it is not necessarily phased with price so why worry about it at all? Given it is often the case it explains nothing you want to know about where price is headed is it not better to find an alternative means of reading the market to trade it and leave fundamentals to gamblers and other such hapless people? At least you know that the market moves by a mix of factors of which fundamentals is just a part if at all so I assume you have the skills then to profit from such a wonderful (and might I add...
You are welcome. I still believe that forex should be played in two ways. One you take a long term position that you hold based on fundamentals and during the day you do day trading small amounts trading the price action...You should be careful no to get overleveraged and in the long run you most probably will enjoyee the profits
Quoting Marsfx
You are welcome. I still believe that forex should be played in two ways. One you take a long term position that you hold based on fundamentals and during the day you do day trading small amounts trading the price action...You should be careful no to get overleveraged and in the long run you most probably will enjoyee the profits
I understand your inclinations but I assure you whether long or short term fundamentals is somewhat useless to the needs of the average retail trader (even if for instance you are into the carry trade there are more efficient ways of timing and managing such trades). I am an economist and one that practiced for a significant amount of time before trading. I can tell you that if there was any truth to the old ladies stories around fundamentals and price I would be among the richest traders on earth by now. There is more to trading than such fables obviously. It takes money to trade long term and few in retail have the kind of capital required because of the way price moves and in fact it is largely inefficient to employ retail type money in long term trades. You see most of the views you are in fact expressing are handed down and you have no actual experience of what it really means for instance to position trade - who does it and why. Do not take the views you came across as a newbie for granted. It is helpful to question the premise on which some of these things are based. Look at your charts and tell me - what use is it to have your position move 20k points in direction and another 21k points counter direction before finally moving 21.5 k points to close for example (assuming you are that lucky) over a space of say six months or a year. And how does fundamentals help with all that. Anyhow I assume over time you will see some of the points I am making and decide for yourself. cheers
@loadedgun: between all your writing do you still have time to trade? seems you are a writrader....
Quoting harry23
@loadedgun: between all your writing do you still have time to trade? seems you are a writrader....
Once I traded 13 pairs simultaneously and still found time to chat. Since I am neither a technical trader nor a fundamental trader I am sure you will be baffled how easy it is for me to multitask on pairs and other things. But as you grow in the business I am sure you will learn how not to spend your time on the hopeless aspects of trading such as trying to read and understand every bit of news in the name of informing your view of the market. Cheers

BTW: most times when I come around news sites I do not even read the headlines so while others have their brains creaking mine is free to do the things I enjoy since my models are setup for me to simply make entry and exit decisions under all possible circumstances. One benefit of being a chaotic trader.
Quoting Pipnosis
I knew when the markets spiked for no good reason that there had to be a Draghi comment coming. I sometimes feel like he is waiting behind a bush...then all of a sudden pops out and makes some statement..
Yep, same feeling here. Draghi's behind a bush, probably taking a dump as he critically acclaims everything is good and well... once and again
"To hold, you must first open your hand. Let go." - Lao Tzu
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  • Posted: Jun 10, 2013 11:54am
  • Submitted by:
     Newsstand
    Category: Low Impact Breaking News
    Comments: 17  /  Views: 3,981