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clockwork71 May 6, 2011 8:01pm | Post# 12361

It absolutley sucks that a lot of what looks like the start of major moves always happens on Good ol' NFP and I am powerless to do anything about it.

I can only hope for retracements and just wait and see what comes next

To be honest, a lot of what is going on suddenly is all about rumors and drama. Greece leaving the EU? The Europeans could only be so lucky.

VitaminBeer May 7, 2011 3:43am | Post# 12362

To be honest, a lot of what is going on suddenly is all about rumors and drama. Greece leaving the EU? The Europeans could only be so lucky.
Who decides that I wonder, bunch of high strung nuts in the government department decide who does what and how....kinda sad isn't it...
This is why I only like looking at charts and not the actual crap that comes with it...

kaspopsicle May 7, 2011 9:20am | Post# 12363

Who decides that I wonder, bunch of high strung nuts in the government department decide who does what and how....kinda sad isn't it...
This is why I only like looking at charts and not the actual crap that comes with it...
Crap comes with your charts too? i swear its the gremlins...or is it the Gnomes?

clockwork71 May 7, 2011 10:00am | Post# 12364

Crap comes with your charts too? i swear its the gremlins...or is it the Gnomes?
He is Australia. In his case, it is the wallabies.

kaspopsicle May 7, 2011 10:15am | Post# 12365

He is Australia. In his case, it is the wallabies.
Hey Chris ...good to meet you....got the devils from Tazmania on my mind...
Great Weekend to you !

clockwork71 May 7, 2011 10:54am | Post# 12366

Hey Chris ...good to meet you....got the devils from Tazmania on my mind...
Great Weekend to you !
You too!

egkid May 7, 2011 11:07am | Post# 12367

Hi
 
You too!
Hello Chris
How is life?Hope all good with you
Keep Digging my e/u chart , I'm Sure about my targets but still want nice entry to add
The thing i don't Understand Close under 1.4380 which was my weekly bottom

clockwork71 May 7, 2011 5:31pm | Post# 12368

Hello Chris
How is life?Hope all good with you
Keep Digging my e/u chart , I'm Sure about my targets but still want nice entry to add
The thing i don't Understand Close under 1.4380 which was my weekly bottom
The whole ting in Europe is volatile and messy. I would be calm about adding, mainly because everyone is reacting to drama and rumors right now. There will come a time, when things are much more calm. I am watching the chart as well.....

clockwork71 May 9, 2011 9:19pm | Post# 12369

2 Attachment(s)
US dollar weakness? Hard to believe isn't it?
[attach]695406[/attach]
[attach]695407[/attach]

clockwork71 May 11, 2011 12:45am | Post# 12370

1 Attachment(s)
After posting that chart, little happened. However, we did form another pinbar again. Having 2 in a row is a big deal.....it shows that the area is serious support. Take a look:
[attach]696438[/attach]

zoli May 11, 2011 6:49am | Post# 12371

post
 
After posting that chart, little happened. However, we did form another pinbar again. Having 2 in a row is a big deal.....it shows that the area is serious support. Take a look:
Hi CW

i did word a post yesterday but I did not have the chance to upload it as my net froze. Anyway, I see your point on EU. I printed a chart of EU and marked the recent S/R areas. It looks like quite well structured on the recent short term.

Also, if we do not go lower from here, this whole sell off may turn out as a nice long opportunity. Similarly, some JPY pairs creep upwards after a move looks like correction. USDCAD is heading down again after the previous move. NZDUSD is also creeping its way to north - with the usual speed and chip-chop though.

I did long EU actually so I hope for the best now and let Mr. Market do its thing.

Noloqy May 11, 2011 9:14am | Post# 12372

I wouldn't dare going long either the euro or the dollar right now. In my view, the dollar is fundamentally weak, and what happens to the euro is for the most part dictated by highly unpredictable events that have very significant impact.

The way I see it, momentum is building up in the resistance zone, and placing a sell order below resistance might be a good way to capture a possible adverse reaction to the next event.

InfinitySL May 11, 2011 9:43am | Post# 12373

I wouldn't dare going long either the euro or the dollar right now. In my view, the dollar is fundamentally weak, and what happens to the euro is for the most part dictated by highly unpredictable events that have very significant impact.

The way I see it, momentum is building up in the resistance zone, and placing a sell order below resistance might be a good way to capture a possible adverse reaction to the next event.
I agree 75% with this. Greece, Ireland, Portugal, even Spain are all in trouble. I'd wait for a little more clarity on that before I jumped in to the EUR. I disagree though about the dollar. I think that it could be a major beneficiary of support as QE2 ends in the coming months. Despite what you'll hear from some of these crazy websites out there, I think the "money printing" we hear so much about is overblown and the dollar could get stronger. I'll be positioning myself for that (and obviously, my EURGBP short from earlier is working out quite well...) and in other unloved currencies like the GBP.

clockwork71 May 11, 2011 10:12am | Post# 12374

I wouldn't dare going long either the euro or the dollar right now. In my view, the dollar is fundamentally weak, and what happens to the euro is for the most part dictated by highly unpredictable events that have very significant impact.

The way I see it, momentum is building up in the resistance zone, and placing a sell order below resistance might be a good way to capture a possible adverse reaction to the next event.
Well.....that was the point. Either you have a move up, like we have seen in the GBP/USD today. (Was included in the original post with only one pinbar.) Or......we break down. Well - a broken pinbar, and especially two - is a signal in and of itself as it shows support being blown out.

clockwork71 May 11, 2011 10:13am | Post# 12375

Gold is falling today, trying to find the 1500 level. Could be interesting....

egkid May 11, 2011 12:22pm | Post# 12376

Gold is falling today, trying to find the 1500 level. Could be interesting....
Hi
I don't trade it but by looking to it, I c it going under 1400

Noloqy May 11, 2011 12:43pm | Post# 12377

I agree 75% with this....
My arguments for a weak dollar are not limited to the printing of money (which might be overblown, but still has been significant). Instead, the current account deficit is enormous, and keeps growing, while at the same time the world - countries, as commercial institutions - are showing less interest in buying US debt and assets. If the capital account surplus falls, then the current account deficit must decline as well (because balance of payments has to be in balance)- the mechanism through which this happens is a depreciation of the dollar.

I totally agree with you on the about the PIGS. At the rate at which the government debt in Spain is growing, combined with the very limited prospects of increasing tax revenues, Spain is inevitably going to fall. It might be tomorrow, or a year from now: time will tell. Of course, Spain is too big to fail, but I fear it also might be too big to rescue. We have interesting times ahead, thats for sure.

Noloqy May 11, 2011 12:46pm | Post# 12378

By the way, have you guys heard about this movie? http://www.youtube.com/watch?v=HtUQmRZMCYU

clockwork71 May 11, 2011 7:23pm | Post# 12379

By the way, have you guys heard about this movie? http://www.youtube.com/watch?v=HtUQmRZMCYU
I don't know that I have. I would probably avoid watching it - I will only get pissed off I am sure.

clockwork71 May 11, 2011 7:25pm | Post# 12380

We have interesting times ahead, thats for sure.
I agree - and I don't know that it makes me feel any better.....


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