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  • #5,361
  • Edited 10:38am Mar 11, 2008 8:54am | Edited 10:38am
Looks like the FED is going to put all those shitty mortgage loans on the balance sheet. Great now the American tax payer can bail out the banks again. What bullshit.

Edit: I have to take this back, looks like the loans will be on the books only temporary as these will be LOANS, not outright purchases of bad mortgage backed securities. Furthermore the FED will be charging a premium for the loans, where only 90% of the mortgage is available to borrow.

I stand corrected
  • #5,362
  • Mar 11, 2008 8:58am Mar 11, 2008 8:58am
My main concern is that the 24 sma on the 3-hour chart is beginning to slope down, and it hasn't done that this whole trend..

Retracement coming? Possibly.
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  • #5,363
  • Mar 11, 2008 9:32am Mar 11, 2008 9:32am
Quoting kharvell
My main concern is that the 24 sma on the 3-hour chart is beginning to slope down, and it hasn't done that this whole trend..

Retracement coming? Possibly.
Man that was the closest I've come to eating raw meat in a long time.. However, looks like im ok now.
USD Est Non Mortuus
  • #5,364
  • Mar 11, 2008 10:29am Mar 11, 2008 10:29am
Quoting LuckyLurker
Man that was the closest I've come to eating raw meat in a long time.. However, looks like im ok now.
But it did go up though and made new highs before going down.

But we'll let you slide on this one.
Careful what words you chose, you never know which ones you'll have to eat:
  • #5,365
  • Mar 11, 2008 10:52am Mar 11, 2008 10:52am
Now we are looking at a potential top. Thats exactly how it happens most time. One last rally to new highs and a sharp fast reversal.
I am expecting a close below the weekly pivot. Then a break of todays low will be a good sell entry signal.

http://img524.imageshack.us/img524/3...lytrenduz4.gif
  • #5,366
  • Mar 11, 2008 11:02am Mar 11, 2008 11:02am
Can't go long fear of lesser rate cut from FED; can't short either.

got lucky today, not going to push it for once.

Going to the township building to get a burning permit, do some yard work and get primal.
  • #5,367
  • Mar 11, 2008 11:10am Mar 11, 2008 11:10am
Quoting xxDavidxSxx
But it did go up though and made new highs before going down.

But we'll let you slide on this one.
Careful what words you chose, you never know which ones you'll have to eat:
You are right. I have to eat it.. Better to talk about it though and not trade it haha.
USD Est Non Mortuus
  • #5,368
  • Mar 11, 2008 11:44am Mar 11, 2008 11:44am
Quoting LuckyLurker
You are right. I have to eat it.. Better to talk about it though and not trade it haha.

Yea true.

Now price is back at the daily open and trying to turn to a bull candle.

I guess we have to let the market continue to work it self out.
  • #5,369
  • Mar 11, 2008 1:54pm Mar 11, 2008 1:54pm
Quoting xxDavidxSxx
Yea true.

Now price is back at the daily open and trying to turn to a bull candle.

I guess we have to let the market continue to work it self out.
Ok so here's what I did and I hope this is good enough for you guys .. Had sushi for lunch. Thats raw.
USD Est Non Mortuus
  • #5,370
  • Mar 11, 2008 2:07pm Mar 11, 2008 2:07pm
That's nasty - I'm hungry ! So who bets about the next move ? I say up again soon (a day maybe) to at least retest near 550 and then see.. Either way, entering with smaller leverage now and catching the wave or if it falls then buying the big dip more aggressively sounds good to me..
On the path to Enrichment.
  • #5,371
  • Mar 11, 2008 4:26pm Mar 11, 2008 4:26pm
Well the price dipped back below the weekly pivot but returned back above it for the daily close. Not a good sell signal but my charts look like a top is going to form.
  • #5,372
  • Mar 11, 2008 4:27pm Mar 11, 2008 4:27pm
Quoting LuckyLurker
Ok so here's what I did and I hope this is good enough for you guys .. Had sushi for lunch. Thats raw.

mmmmm LOVE sushi
  • #5,373
  • Mar 11, 2008 5:05pm Mar 11, 2008 5:05pm
Quoting xxDavidxSxx
Well the price dipped back below the weekly pivot but returned back above it for the daily close. Not a good sell signal but my charts look like a top is going to form.
Yup. Yet that last jump high up was probably triggered by all the bears taken out on the way I figure, so it might still dash up to do that again.. As ussual, life's tough in FX land..
On the path to Enrichment.
  • #5,374
  • Mar 11, 2008 6:51pm Mar 11, 2008 6:51pm
Quoting LuckyLurker
Ok so here's what I did and I hope this is good enough for you guys .. Had sushi for lunch. Thats raw.
LOL, A woman of her word... respectable

I tried sushi my first time actually on my Florida trip at Breakers. Figured that's the place to try it, eh?
  • #5,375
  • Mar 11, 2008 6:56pm Mar 11, 2008 6:56pm
is it too soon to short?
  • #5,376
  • Mar 11, 2008 6:58pm Mar 11, 2008 6:58pm
It could go either way...lesser fed cut worries me.

I'll tell what my trade is when I do it, you should have a lock on the trade if you just do the opposite of me.
  • #5,377
  • Mar 11, 2008 7:01pm Mar 11, 2008 7:01pm
ive heard some say that a 50pt cut could be dollar possitive?
  • #5,378
  • Mar 11, 2008 7:08pm Mar 11, 2008 7:08pm
Staying on the sidelines for this pair until it forms some trend in either direction. The pin bar on the Daily chart looks extremely lethal.
  • #5,379
  • Mar 11, 2008 7:16pm Mar 11, 2008 7:16pm
Quoting slappy
is it too soon to short?
I'm short @ 1.5326. Going with a 50 pip T/P, but I believe there is potential to hit strong former resistance @ 1.5230.

Reasons:

Downward sloping 24 SMA on 3-hour chart
A lot of volatility, to be honest I think one could earn 50 pips either way with a large stop.
EDIT: Also, 1.5330 (former support) acting as resistance (FOR NOW)

We'll see how it goes.
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  • #5,380
  • Mar 11, 2008 7:58pm Mar 11, 2008 7:58pm
Daily pivot 1.5371


Go short there if price don't break above. With tight s/l 20 pips the other side.
tp 150 pips

Sound trade stradigy
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