DislikedGuys how many times do you have to hear that the reason the dollar fell is cause more sellers then buyers. Why is that so hard to understand? News had nothing to do with it.Ignored
Guys how many times do you have to hear that the reason the dollar fell is cause more sellers then buyers. Why is that so hard to understand? News had nothing to do with it.
Steelhead,
What do you think influenced those sellers? LOL
Market sentiment and news had everything in the world to do with it. Why do you think there were all those shorts?Or maybe they were triggered accidentily.. Sheeesshhhh.. oops I tripped on my shorts.....
Bristol
"I spilled spot remover on my dog. He's gone now." - Steven Wright
- #10,723
- Jul 11, 2008 8:45am Jul 11, 2008 8:45am
- | Commercial User | Joined May 2008 | 1,334 Posts
Steelhead,
What do you think influenced those sellers? LOL
Or maybe they were triggered accidentily.. Sheeesshhhh.. oops I tripped on my shorts.....
Bristol
Nope. what triggered it was the herd going long. Doing exactly what the professionals wanted them to do. The professionals created the sentiment not the news.
- #10,725
- Edited 10:22am Jul 11, 2008 10:16am | Edited 10:22am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
Hope everyone remembers it may be friday to the guy going to the lake this weekend, but it's "freaky friday" for traders.
Lots of "verbal-vention" from yesterday/today still processing thru the markets, and settling of books for the weekend that may or may not make any sense, and are certainly not specifically predictable by anything, except just knowing that that IS what happens on Friday afternoon.
Leaving an open short on EU and open long on UJ till later this PM with profits locked, and may leave some to run over the weekend to catch any gaps going my way on the Sunday open. Otherwise I'm outa here. Liquidity thins out, and things get too weird.
Expectations for EU... Chart tells the tale. One thing, there is a chance that the dotted red line will hold the current price (at the white ?) as it did back a'rd June 22-23. In which case I'll trade it back up.
It's very simple. I'm not married to any position that my charts and INDICATORS don't support. Study the PA relative to the day where it hit or nearly hit the upper TL. What day is today?
We shall see...
Gotta love them pinbars on the 2 hr tho.
PS. If current 79% fib level holds up to session close w/o profit taking on the longs, then that would likely be support for current levels holding into Sunday sometime and maybe even Monday NY imo. just my 1.618 pips worth.
Lots of "verbal-vention" from yesterday/today still processing thru the markets, and settling of books for the weekend that may or may not make any sense, and are certainly not specifically predictable by anything, except just knowing that that IS what happens on Friday afternoon.
Leaving an open short on EU and open long on UJ till later this PM with profits locked, and may leave some to run over the weekend to catch any gaps going my way on the Sunday open. Otherwise I'm outa here. Liquidity thins out, and things get too weird.
Expectations for EU... Chart tells the tale. One thing, there is a chance that the dotted red line will hold the current price (at the white ?) as it did back a'rd June 22-23. In which case I'll trade it back up.
It's very simple. I'm not married to any position that my charts and INDICATORS don't support. Study the PA relative to the day where it hit or nearly hit the upper TL. What day is today?
We shall see...Gotta love them pinbars on the 2 hr tho.
PS. If current 79% fib level holds up to session close w/o profit taking on the longs, then that would likely be support for current levels holding into Sunday sometime and maybe even Monday NY imo. just my 1.618 pips worth.
FUBAR...
- #10,726
- Jul 11, 2008 10:17am Jul 11, 2008 10:17am
OPS ....whats happened ..i went to the sea and i missed all the action...
i thought it won't move today.... almost 140 pips down ???
whats happened to the people in the back who would never let the dollar go down that much ??
i thought it won't move today....
almost 140 pips down ???whats happened to the people in the back who would never let the dollar go down that much ??
pip and run ....
- #10,727
- Jul 11, 2008 10:55am Jul 11, 2008 10:55am
Hope everyone remembers it may be friday to the guy going to the lake this weekend, but it's "freaky friday" for traders.
Lots of "verbal-vention" from yesterday/today still processing thru the markets, and settling of books for the weekend that may or may not make any sense, and are certainly not specifically predictable by anything, except just knowing that that IS what happens on Friday afternoon.
Leaving an open short on EU and open long on UJ till later this PM with profits locked, and may leave some to run over the weekend to catch any gaps going my way on the Sunday open. Otherwise I'm outa here. Liquidity thins out, and things get too weird.
Expectations for EU... Chart tells the tale. One thing, there is a chance that the dotted red line will hold the current price (at the white ?) as it did back a'rd June 22-23. In which case I'll trade it back up.
It's very simple. I'm not married to any position that my charts and INDICATORS don't support. Study the PA relative to the day where it hit or nearly hit the upper TL. What day is today?
Gotta love them pinbars on the 2 hr tho.
PS. If current 79% fib level holds up to session close w/o profit taking on the longs, then that would likely be support for current levels holding into Sunday sometime and maybe even Monday NY imo. just my 1.618 pips worth.
Great attitude to have on trading each day! Same here
- #10,729
- Jul 11, 2008 11:23am Jul 11, 2008 11:23am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
FUBAR...
- #10,731
- Edited 11:56am Jul 11, 2008 11:40am | Edited 11:56am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
So data doesn't seem to be the cause of this, because well it was good. So sellers just took over ?
I have always wondered just how much news watching even goes on late Friday NY session. I bet those guys mostly are clearing out of the office and just want to beat traffic. News? It's all bad, so what's to watch? Besides, MR "last guy left in the office Junior Trader" is not going to pull the trigger on a late friday anything imo.
Lots of people (large traders, institutions, etc) will close out trades late in session simply becuz they do not hold open trades over the weekend. That alone will affect price all by itself. It looks one way but is caused by something not related to someone intentionally saying "I'm going to buy or sell this pair."
The same thing happens in a big move as stops are taken out. It looks like a reversal maybe, but after the market absorbs that sudden influx of cash at key levels, it contines on it's merry way until it doesn't. It's just some poor shmuck getting his stop hit...
The only data I look at on Friday, is the fact that it's Friday. My version of KISS.
Stupid Caveat: one thing tho, and this is not meant to contradict what I said earlier, IF, IF IF price is perceived to be at a key level and confidence in a gap going the right way is a factor there could well be some retail buying or selling taking place at key levels. I do that myself. I doubt we'd ever see that level of activity reflected on any chart tho. Do the institutions have robot buy/sell triggers running and could that change things? Probably, but I don't worry about it.
FUBAR...
- #10,733
- Jul 11, 2008 12:06pm Jul 11, 2008 12:06pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
Well slap me silly, this is turning out to be an exception to the norm for a friday... 
Forex Rule # something or other... "Anything Can Happen"
Out on both trades for 48, have a good weekend all.
Forex Rule # something or other... "Anything Can Happen"
Out on both trades for 48, have a good weekend all.
FUBAR...
- #10,736
- Jul 11, 2008 1:45pm Jul 11, 2008 1:45pm
I have my 200 sma as resistance and my 50 sma as support...so far bouth are holding, the trend is "technically" still up, but right now fundamentally the pair is as berish as it coul be. But for the last 3 atempts the bears got busted around this area so...lets see
There are no certainties only oppurtunities.
- #10,738
- Jul 11, 2008 5:58pm Jul 11, 2008 5:58pm
When you get really really bored by the market where there is no price action, it often indicates that a breakout is about to happen as it did on Friday.
OPS ....whats happened ..i went to the sea and i missed all the action...
i thought it won't move today....
whats happened to the people in the back who would never let the dollar go down that much ??
