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  • #1,171,841
  • Jun 5, 2020 12:16pm Jun 5, 2020 12:16pm
I am keeping my shorts with SL at 13 46 over the weekend. IF this top holds today it will hold for manyy days next week . My humble opinion .

  • #1,171,842
  • Jun 5, 2020 12:21pm Jun 5, 2020 12:21pm
Quoting here2there
{quote} Do you have any recommendations? Are there any courses on using such info to trade the Forex market?
In their website (in the link prince ali gave you) you should check at their menu the tab education, there are many information to learn from there. Also I use their online tools, just check their volume and open interest tools, you will find many.
Looking for profitable short term trades ...|
  • #1,171,843
  • Jun 5, 2020 12:33pm Jun 5, 2020 12:33pm
Ending diagonal triangle lower trend line dipped >
Founder of Sutherland Wave Principle
  • #1,171,844
  • Jun 5, 2020 12:54pm Jun 5, 2020 12:54pm
Quoting Techanalyst
Closed this manually. Great profit. I used a big lot, so will not hold it. This was only one trade of the day today. Great profit for me this week. Trade safe. {image}
Nice bear scalp catch! I am getting ready for one last scalp (bull) before the market close.
Only an idiot knows with certainty to where the market is going.
  • #1,171,845
  • Jun 5, 2020 1:30pm Jun 5, 2020 1:30pm
Quoting mistaouting
{quote} Those number are possibly a result of the payroll protection program... question is will the US economic activity pickup enough and "long" enough that those workers are not fired later "the time period required for those Gov loans to turn into Gov grants....A gamble by the Gov and Businesses which could pay off well if economic activity picks up soon that's the gamble...how soon can countries and people of the countries get past the concern of the virus and back to spending and making money If we move past the virus (for whatever reason)...
Economic activity won’t pick up in america to that degree because they have been to greedy with the money they tried saving the economy with.

take the U.K. as an example... in 2008 the U.K. government saved the banks with £850b

Up to the current date they have furloughed wages, business loans £21b, total announced £400b across all boards, 47% of that in 2008, yet far more of an economic crisis than in 2008 , businesses have been closed for 3 months +.

its incredibly deluded for the senate to think they can “save the economy” by being selfish & handing it for profit purposes (either that or they dont care), businesses go under = jobs become lost.

there is a very substantial difference between the 2.

let’s add in de-globalisation, economic sanctions, the worlds take on American policy, the fossil fuel industry, USA gdp to fiscal policy & emerging economies re positioning by way of crypto’s etc.

Then let’s speculate which currency is overvalued.
Que Sera
  • #1,171,846
  • Jun 5, 2020 1:34pm Jun 5, 2020 1:34pm
Quoting Js3mwtRc
{quote} In their website (in the link prince ali gave you) you should check at their menu the tab education, there are many information to learn from there. Also I use their online tools, just check their volume and open interest tools, you will find many.
Thanks! I will look into it.
Learn from your mistakes and march on.
  • #1,171,847
  • Jun 5, 2020 1:36pm Jun 5, 2020 1:36pm
[quote=Js3mwtRc;12986559]{quote} Yes it is from profit taking and NFP helped, also today expired the Monthly futures contract for June. Although it is holding above 1.1186 Daily support and doesn't give up yet.[/quot

Actually. The Futures EUR contracts expire 15 June. The next quarter does not open until next week. Currencies are like the Dow, S&P, and Nasdaq only 4 contract periods a year. I trade Futures. I like to read your Blog to get others insight. The forex EUR/USD mirrors the EUR futures charts. I enjoy reading all of your post. You guys and gals are pretty spot on. Better than EUR/USD Only blog.
  • #1,171,848
  • Jun 5, 2020 1:38pm Jun 5, 2020 1:38pm
Quoting mistaouting
{quote} If we move past the virus (for whatever reason) and economic activity picks back up even close to pre pandemic numbers....next issue for the Feds will probably be fighting inflation....possibly not this year but soon but only time will tell...
Inflation with a rise of unemployment because they view the situation as an opportunity to rob people blind as opposed to help them = stagflation

de globalisation & countries moving away from oil, imports, exports etc

All countries will be hit by what is happening but no other country is in quite the same situation regarding their currency as America, no other country had used it as quite the same bargaining tool as America have.

“Sanctions”

”yeah alright mate you crack on”

popcorn.
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  • #1,171,849
  • Jun 5, 2020 1:53pm Jun 5, 2020 1:53pm
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  • #1,171,850
  • Jun 5, 2020 1:58pm Jun 5, 2020 1:58pm
Nice gutsy week with plenty of volatility. Gee I miss those 10 pip ranges we get weeks at a time.... (sarcasm for those who don't get it).

Have a good weekend all.
As the lights go by so too do the shadows move
  • #1,171,851
  • Jun 5, 2020 1:59pm Jun 5, 2020 1:59pm
Quoting Catempire
{quote} Inflation with a rise of unemployment because they view the situation as an opportunity to rob people blind as opposed to help them = stagflation de globalisation & countries moving away from oil, imports, exports etc All countries will be hit by what is happening but no other country is in quite the same situation regarding their currency as America, no other country had used it as quite the same bargaining tool as America have. “Sanctions” ”yeah alright mate you crack on” popcorn.
Risk of deglobalization:

- Slower long-term growth
- Greater gap between poorer and richer countries
- More protectionism, less cooperation
- Increased risk of international conflict

The last time world experienced this was between 1914-1945. We are not there today. It may look like it is to some, but it is not. We have learned a lot from history, the whole world. There is still a lot to learn not to make a mistake, but we are much better than back in those days. No one is moving away from oil. It is going to be here for a very long time. There is too much money in it.

Just one example:
How much is the cheapest Tesla car?
The least expensive Model 3 at the start of 2020 is the Standard Range Plus with 250 miles of driving range. It costs $41,190 before adding options.

A lot of people can't afford Tesla cars. So there you have it. Some things are changing, but a lot of things will be here for a long time. You have good logic, but you have to also look at the reality. Oil is here for a long time, America will not fall. Possibly another year maximum, and we are all back in business, it will get better. We may face another recession, but that is the part of economy. Sometimes it has to get worst before it gets better. Things will be good for everyone.
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  • #1,171,852
  • Jun 5, 2020 2:08pm Jun 5, 2020 2:08pm
Quoting Techanalyst
{quote} Risk of deglobalization: - Slower long-term growth - Greater gap between poorer and richer countries - More protectionism, less cooperation - Increased risk of international conflict The last time world experienced this was between 1914-1945. We are not there today. It may look like it is to some, but it is not. We have learned a lot from history, the whole world. There is still a lot to learn not to make a mistake, but we are much better than back in those days. No one is moving away from oil. It is going to be here for a very long time....
Good for everyone Now there’s a thought.

I don’t think America’s situation is developing in quite the way it needs to if that’s going to be the outcome, on so many levels.

“We may face another recession, but that is the part of economy.”

what happens when you print your way out of a recession but don’t help it from the bottom up ?

i love your optimism & I can see why so many people have similar views.

America is untouchable

I had similar disagreements with those in the dax trading thread back in feb and subsequently got banned

My point made no need for me to rattle on, at the end of the day it’s just about getting on the right side of the market.
Que Sera
  • #1,171,853
  • Jun 5, 2020 2:15pm Jun 5, 2020 2:15pm
Quoting Catempire
{quote} Good for everyone Now there’s a thought. I don’t think America’s situation is developing in quite the way it needs to if that’s going to be the outcome, on so many levels. “We may face another recession, but that is the part of economy.” what happens when you print your way out of a recession but don’t help it from the bottom up ? i love your optimism & I can see why so many people have similar views. America is untouchable I had similar disagreements with those in the dax trading thread back in feb and subsequently got banned My...
Not about optimism. This is logic and reality. America is untouchable, you got that right. America will be just fine. Even though a lot of Canadians here think the same way as you do, but when I talk to them and point out certain things. It changes their mind. Our interest with USA is best for our interest too. One example is we export majority of the garbage into USA in Michigan because they have low fees. Unfortunately you have not made any point.

https://www.international.gc.ca/coun....aspx?lang=eng
  • #1,171,854
  • Jun 5, 2020 2:26pm Jun 5, 2020 2:26pm
Quoting Techanalyst
{quote} Not about optimism. This is logic and reality. America is untouchable, you got that right. America will be just fine. Even though a lot of Canadians here think the same way as you do, but when I talk to them and point out certain things. It changes their mind. Our interest with USA is best for our interest too. One example is we export majority of the garbage into USA in Michigan because they have low fees. Unfortunately you have not made any point. https://www.international.gc.ca/coun....aspx?lang=eng
few people predicted ww1 before it was announced on the radio, 2 days after it had kicked off.

Only a contrarian can predict change.

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  • #1,171,855
  • Jun 5, 2020 2:31pm Jun 5, 2020 2:31pm
Quoting Catempire
{quote} few people predicted ww1 before it was announced on the radio, 2 days after it had kicked off. Only a contrarian can predict change.
Those that predict, are those that plan it. There is not going to be WW3.

  • #1,171,856
  • Jun 5, 2020 2:39pm Jun 5, 2020 2:39pm
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I don't know about you guys. As a trend trader right here, obviously it's holding the MA. and at the same divergence showed up perfectly and next week targetting 1.14+

Today's sell off is just the banks unloading their stock before the weekend as usual. I don't take this as a sell signal.
Whatever is happening right now has happened before and will happen again.
  • #1,171,857
  • Jun 5, 2020 2:46pm Jun 5, 2020 2:46pm
Quoting Catempire
{quote} Economic activity won’t pick up in america to that degree because they have been to greedy with the money they tried saving the economy with. take the U.K. as an example... in 2008 the U.K. government saved the banks with £850b Up to the current date they have furloughed wages, business loans £21b, total announced £400b across all boards, 47% of that in 2008, yet far more of an economic crisis than in 2008 , businesses have been closed for 3 months +. its incredibly deluded for the senate to think they can “save the economy” by being selfish...
I hate to rain on your doomsday parade but I don't see it....no offence.

crypto currencies.... I guess if your buying stuff of the dark web lol....I think most banking transaction are done electronically and have been for a while never really got into the crypto thing but I know it has some hard believers lol
LOCK IN RE-ENTER
  • #1,171,858
  • Jun 5, 2020 2:47pm Jun 5, 2020 2:47pm
Quoting Techanalyst
{quote} Those that predict, are those that plan it. There is not going to be WW3.
No I agree no ww3 , quite the opposite.

moving into an age of more generosity because that is all that will work.

the countries that arnt will be hit.

anyways

beats dude have a good weekend whatever you are up to.
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  • #1,171,859
  • Jun 5, 2020 2:52pm Jun 5, 2020 2:52pm
Quoting mistaouting
{quote} I hate to rain on your doomsday parade but I don't see it....no offence. crypto currencies.... I guess if your buying stuff of the dark web lol....I think most banking transaction are done electronically and have been for a while never really got into the crypto thing but I know it has some hard believers lol
Bitcoin is 21’st century gold, it’s held itself up which I would assume you see as mass psychology believing in something.. where else Decentralised can you store & travel with billions of dollars ?

China have just rolled theirs out in 4 cities.

im actually amazed that’s your reaction... here’s a bitcoin chart for you, end of the year, lower equities, lower dollar...

do you not think there’s a reason so many very intelligent people believe in it, minus buffet ofc but then this is 2020 not 1980

(is suggest deignorenting yourself and getting with the program)
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  • #1,171,860
  • Jun 5, 2020 2:54pm Jun 5, 2020 2:54pm
Bitcoin will be above $100,000 in 12 / 18 months

much of that will be because the dollar has shat itself !

have a good weekend.
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