but we wont see the snow 
its just money
- #5,203
- Jan 5, 2007 10:29am Jan 5, 2007 10:29am
- | Joined Apr 2006 | Status: Senior Member | 1,257 Posts
- #5,206
- Jan 5, 2007 10:33am Jan 5, 2007 10:33am
- Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Hey Kharvell overall move is to 9100- 9040's area what area are you from by the way. It wouldnt happen to be washington, DC would it.
No sir, I am from Dallas, TX. And I agree with you on the going to 1.9100's.. 1.9163 sounds like a good number actually
And where might you be from?
- #5,207
- Jan 5, 2007 10:39am Jan 5, 2007 10:39am
Basically correct. Now the looming problem with this investment is that the yen (or swissy) will strengthen and make the cost of paying back the loan too much. So when these "experts" or model funds get a signal that the yen will strengthen they will sell their investment vehicle in the high yielding currency and buy the low yielding currency to repay the loan. It turns into a snowball effect as more funds start to do this it pushes the prices.
The yen is showing signs of reversal technically and BOJ has a rate decision upcoming that is favoring a hike.
Last night it pushed the yen way down as well as the all the yen crosses. Factor in the commodities plunge recently it was due to happen.
So it's something to keep an eye on in the future.
- #5,210
- Jan 5, 2007 3:33pm Jan 5, 2007 3:33pm
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
If Gold closes below the trendline it should be descending further.
Traditional understanding is higher gold = weaker dollar and vice versa.
So far it's making a bounce and that's currently coinciding with cable pausing it's descent
No visible reason to panic just yet for me though, haven't seen a reversal sign yet. If we pause too long that's a different story.
Minor tiny news in 15 mins, maybe that restarts the engine on cable.
No idea if anyone followed this, I did. Gold and the reaction did exactly what it was supposed to: moved below the trendline, gave a last gasp and then disappeared. This coincided with the drop we saw to 1.9350 and also to the next leg down during NFP. Although it was pretty much over once it broke it in the first place.
I will post the big picture, zoomed and the cable macro view, too, to explain why I was originally aiming for 1.9350 and then lower.
Even though my trade management was a total disaster, the actual initial trade entry and targets were totally valid.
Trader stick to your trading plan, what else can I say....
Trust price. Know yourself.
- #5,211
- Jan 5, 2007 3:34pm Jan 5, 2007 3:34pm
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Zoomed in so that you can see that trendline breaks are best taken as the trendline is retested to save on stop size and get more pips.
Raczekfx would be proud
This is also the best way to trade Mouteki in case anyone still remembers that, ahem.
Raczekfx would be proud
This is also the best way to trade Mouteki in case anyone still remembers that, ahem.
Trust price. Know yourself.
- #5,212
- Jan 5, 2007 3:36pm Jan 5, 2007 3:36pm
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Next possible support line / interim step down for cable and the trendline currently holding price.
If we pass the big 61.8% AND the 78.6% things are going to get VERY interesting indeed.....but let's not jump to conclusions here
If we pass the big 61.8% AND the 78.6% things are going to get VERY interesting indeed.....but let's not jump to conclusions here
Trust price. Know yourself.
- #5,217
- Jan 6, 2007 7:43am Jan 6, 2007 7:43am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #5,220
- Jan 7, 2007 8:32am Jan 7, 2007 8:32am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
The market opens in a couple of hours, what's going to happen with GU 
Trade what you see, not what you think.