EURUSD

Good luck. If you have 2nd thoughts, there is likely to be a long limit hunt at 2261 could be a chance to get out before price heads North.

Morning all, I feel like a break is coming soon.

difficult stop when monthly tf take the driving seat / takes months to have effects also. anyway 1.2411 /2550/2660 near bull targets ( this or next 1-2 months high )now , will be happy it breaks the top before correction possibility again/ if so again should take many many months / at least this year to finish !! . Same effects probable in Gold to correct towards 1250 or low before next targets 1392/1433 and oil slip to 50 or low again for next targets 87 bo ). anyway not happy with market choice ! this year it be down as most probable !! now in smaller tf ok if 1.2200. take care , fontu

Good call.

FX price action is choppy in which yesterday we saw the USD initially extending on losses despite the breakthrough in Washington, where both the House and Senate passed the stop gap measure to fund the government to February 8th.

And should continue choppy until Thursday just before the ECB Monetary policy statement and press conference.

Option expiries of note for today's 15:00 GMT:
EUR/USD: 1.2200-10 (920M).

It will continue moving sideways for now as USD related trouble remains. Signal is sharp and better when made after consolidation/sideways. Same applies with the correlated pairs

Best Not to touch the pair at the moment.

SL should be 2256 if I go short. I will update when I pull the trigger.

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Gone short. SL @ 2256...No guarantees.

"various advanced analytics" very impressive.

Card one from my soothsayers Tarot Card pack; does it look the same as your Tarot cards?

I say we could soon be heading for an upside reversal.

Was stopped out but reentered etc.

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In downward trend mode at present. I will update when the soothsayer indicates trend weakening or reversal.

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Okay. I am opening longs.

12:37 - stops now at BE.

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12:40 BE +5

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12:46 BE +10

Ok viewers. Same drill. Except I won't post charts anymore except when essential. I'll just say reversal or trend mode. That way I can save time etc.

Reversal coming.

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Confirmed reversal.

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Confirmed reversal.

If anyone took a short using the previous post. Close it at BE. I made an error by using IC Market data instead of my main broker and they use different terminal times etc. This is not a confirmed trend reversal as a result. I'll keep you updated. The soothsayer has to be above the line in the chart above before the trend ends.


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NOW, we are in the trend end zone but it is not confirmed yet. (and I'm holding a short because of my data gaff)

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13:50 - Still trend mode...Closed my short; how can you be the owner of what must be as close to the HG as a trader can come and then lose money because you upload the wrong broker data to the application. Fking ps'ed off with that loss...it was klingon lot size.

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In short, based on the soothsayer you'd be still holding a long from 2238 until the trend mode has changed to reversal.

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14:00: Trend mode but dying.

Confirmed reversal. I'll wait for the retrace to 2260.

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Ahhhhh...my boy! I write the instructions after all I created it! But when one is trying to share with ungrateful folk like you, the occasional err slips in. But because it is so accurate the occasional err can be absorbed but it doesn't make it any less irritating.

Just short the top and buy the bottom during consolidation. Easy money!!

The trend seems exhausted, id expect some pullback this week.

I day trade so don't really look this only because I would end up not being able to pull the trigger in one direction (either long or short). Daily time frame is still in upward trend mode but close to exhaustion but exhaustion could be loads of pips away as it is a daily chart.

The projected high is 2301 so any exhaustion today (doesn't apply tomorrow) should occur between 2301 to 2353. Breakout of 2383 signals more upside. So shorts location is between 2301 to 2353 with SL @ 2384 + spread

The soothssayer is actually designed to be traded off the projected high and low. One isn't supposed to take every signal but hey...net pips banked.

OK. The projected daily high hit and sooth' has confirmed a trend reversal. PT1 2260 - PT2 2213 - SL @ 2321

This is the exact setup the sooth' was originally created to trade.

Hi guys. I have question for all of you. This is related to ESMA possibly implementing new margin requirement for CFD.

My broker IG is making a lot of noise around these new rules, saying that margin requirements will increase by 70% for the major pairs.
What do you guys know about that?
Will these rules apply only to European based brokers, or to every broker in the world. Or maybe only to European citizens?

Your input will be appreciated.
Thanks!

Hello NotATrader,

I have not heard of it so far.

I am also with IG Markets because they offer a good service and offer a favorable spread. However, those have a high margin requirement and the guaranteed stops cost a lot of money for me as a scalper. Have a Swiss broker ActiveTrades, because I can put my buy limit to 1 point to the course and have no penalty when reaching the stop. The Marginanforderung is only half as high and the Spread even significantly cheaper. I think IG will lose as many customers.

best regards

1. Margin requirement will be increased but the level, who knows. It is clear this is the political intent for whatever reason. It is good for noobs and bad for experienced traders; noobs may actually survive long enough to learn how to trade, experienced traders cannot fully exploit their COSTLY market education via the use of generous leverage
2. European jurisdiction over brokers or the citizen?. Well that is the big question. If it is broker level we can trade via Cyprus, Australia etc; if it is citizen level then the brokers not meeting ESMA regs will have to exclude European traders from trading by not allowing them to open new accounts or closing existing accounts similar to the FX situation in USA scenario.


I imagine there are many traders already taking excessive risks because the ESMA legislation which is on the doorstep.