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Technical Analysis Fallacy

  • #3,521
  • Jul 17, 2008 9:11am Jul 17, 2008 9:11am
black gold rising again.
  • #3,522
  • Jul 17, 2008 9:18am Jul 17, 2008 9:18am
Hi All,
Ok a little time, so let me try...

Look at the hourly charts for the 3 kingdoms.

Some yoyo's been buying USD whole day ,
when the eur reacts. buys euros as well,
then GBP.
So Usd/yen keeps going north.
but whats happening to Eur and cable.
If my guess is correct there's gonna be a lot of yen floating in the market.
Question is , what's happening?
We know that the feds is handling some credit/ money problemie freddire&fannie.
So they came out at critical level for USD, may be bottom of the float range.

Then some yoyo is doing this yen stuff, and seems big enough to impact the whole market esp in crosses and inparting spot majors.

In the background oil is doing the snake and ladders.
So you guess?

regards

Take a close look at the Eurusd hour charts, any tech person would see something big in the horrizon. NO?
  • #3,523
  • Jul 17, 2008 9:29am Jul 17, 2008 9:29am
Hourly EURUSD chart:-
http://www.forexfactory.com/C:\eurusd 1hour.gif
  • #3,524
  • Jul 17, 2008 9:31am Jul 17, 2008 9:31am
Hello fti,

I have looked at EURUSD 1hour..but cannot see anything big..is it W shape ...is going to go up big time ? PLease let us know.
  • #3,525
  • Jul 17, 2008 9:32am Jul 17, 2008 9:32am
Quoting DutchAngel
bottles on wall - song that bottles fall of one at a time so if there were 9 now there are 8

Correct me if i am wrong fti, cos i am smoking something, no worries tho everything is legal here in Holland
Now I am confused about them bottles.:nerd:
  • #3,526
  • Edited 10:05am Jul 17, 2008 9:33am | Edited 10:05am
We can guess whats the big event brewing,
the possibilities? high.

million $ questions
when? how?

regards
Attached Image (click to enlarge)
Click to Enlarge Name: what.jpg Size: 162 KB
  • #3,527
  • Edited 10:32am Jul 17, 2008 9:36am | Edited 10:32am
Quoting ksl
Now I am confused about them bottles.:nerd:
Maybe its not about the song i was referring to, thats why i asked to be corrected. If it's not I think its the 9 small hourly bars before the last couple hrs of choppiness. They signify a continuation of the downtrend.

Also I see a complex head and shoulder formation on hourly, and downtrend line that gonna be hit. Will it bounce off and dollar strengthen or breakthrough?
Hope isn't a viable investment vehicle.
  • #3,528
  • Edited 10:14am Jul 17, 2008 9:38am | Edited 10:14am
And I thought I was the one needing sleep????

The quwstion is why is the yen dumped enmass.
for USD, EUR Cable.
Didn;t check the swiss.yet.

The question is why, and WHO?

Corp or CB.?????
All eyes are on US, there seems invisible parties?
Attached Image
  • #3,529
  • Edited 10:01am Jul 17, 2008 9:44am | Edited 10:01am
Quoting DutchAngel
Maybe its not about the song i was referring to, thats why i asked to be corrected. It its not I think its the 9 small hourly bars before the last couple hrs of choppiness. They signify a continuation of the downtrend.

Also I see a complex head and shoulder formation on hourly, and downtrend line that gonna be hit. Will it bounce off and dollar strengthen or breakthrough?
Hi.
You were right dutchangel,
but the whole day the markets been weird.
the bottle were lining up like for firing squad, then some yoyo comes mess it , its intentional,
only thingy is the puzzle is still in pieces. for now.

regards
  • #3,530
  • Jul 17, 2008 10:27am Jul 17, 2008 10:27am
Quoting fti
The quwstion is why is the yen dumped enmass.
for USD, EUR Cable.
Didn;t check the swiss.yet.

The question is why, and WHO?

Corp or CB.?????
All eyes are on US, there seems invisible parties?
Hi fti

The yen dropped against the dollar and the euro as better-than-expected earnings at JPMorgan Chase & Co. encouraged investors to sell the currency to buy higher- yielding assets outside Japan.

You can read full article here http://www.bloomberg.com/apps/news?p...currency_rates
Hope isn't a viable investment vehicle.
  • #3,531
  • Edited 10:57am Jul 17, 2008 10:33am | Edited 10:57am
Quoting DutchAngel
Hi fti

The yen dropped against the dollar and the euro as better-than-expected earnings at JPMorgan Chase & Co. encouraged investors to sell the currency to buy higher- yielding assets outside Japan.

You can read full article here http://www.bloomberg.com/apps/news?p...currency_rates
Hi,
And they are so huge that they are impacting the whole Forex market for such long tenure?
A bit hard to swallow for now. lets see.
They must be moving trillions, or has the forex market shrink to become so small?? Probably Japan may shift to US???LOL
Thanks DutchAngel, at least something. to explain.

regards

Mnnnn, Just And after thought, sure would be a nice way to use surplus investments to fund Freddie and fannie. Is that what they are up to to save them.???? So watch that couple carefully. OR could be they wanna buy London Bridge. LOL or mat be autobahn,

Or maybe they buy USD stealth mode, make announcement of USD purchases, sudden USD rally , profits, no need to buy ANYTHING, Just perception will do , LOL

Oh my wished I had something jap to sell, and buy Eur, Wait a minute, some ppl I know , they have Jap cars, lets see.....
  • #3,532
  • Jul 17, 2008 10:49am Jul 17, 2008 10:49am
Quoting fti
Hi,
And they are so huge that they are impacting the whole Forex market for such long tenure?
A bit hard to swallow for now. lets see.
They must be moving trillions, or has the forex market shrink to become so small?? Probably Japan may shift to US???LOL
Thanks DutchAngel, at least something. to explain.

regards

Mnnnn, Just And after thought, sure would be a nice way to use surplus investments to fund Freddie and fannie. Is that what they are up to to save them.???? So watch that couple carefully.
fti

I think you right on the money there.

Treasury Secretary Henry Paulson tried to rally support yesterday for his plan to rescue Fannie Mae and Freddie Mac and said he is confident Congress will pass it by next week.

We trading interesting times, although confusing too.

edit To avoid any confusion about an earlier post made in jest by me, let me state categorically that I smoke nothing stronger than marlb... lights. was just joking.

Happy trading to all, I have to go and COOK now.
Hope isn't a viable investment vehicle.
  • #3,533
  • Jul 17, 2008 11:06am Jul 17, 2008 11:06am
Quoting DutchAngel
fti

I think you right on the money there.

Treasury Secretary Henry Paulson tried to rally support yesterday for his plan to rescue Fannie Mae and Freddie Mac and said he is confident Congress will pass it by next week.

We trading interesting times, although confusing too.

edit To avoid any confusion about an earlier post made in jest by me, let me state categorically that I smoke nothing stronger than marlb... lights. was just joking.

Happy trading to all, I have to go and COOK now.
Hey Dutchangel,
Thanks for the infos.
Heres a cooking song for you.

Inserted Video


regards
  • #3,534
  • Jul 17, 2008 11:48am Jul 17, 2008 11:48am
Hi fti,

I'm back with my questions
Hope I will not bother you.
I have just one point to make clear, every question or topic I will be asking or talking about.
Kindly note that I'm just trying to exchange ideas , I'm not asking for a something like how to or these kinds of Qs.
it's a great pleasure to exchange ideas and point of views with an experienced instituinal trader like you.

regards
Enter Signature
  • #3,535
  • Jul 17, 2008 11:58am Jul 17, 2008 11:58am
Quoting CHFJunkie
Hi fti,

I'm back with my questions
Hope I will not bother you.
I have just one point to make clear, every question or topic I will be asking or talking about.
Kindly note that I'm just trying to exchange ideas , I'm not asking for a something like how to or these kinds of Qs.
it's a great pleasure to exchange ideas and point of views with an experienced instituinal trader like you.

regards
Hi,
No problem, if I an give you my opinions.
By the way the wuestion was unclear, what was it again?

regards
  • #3,536
  • Jul 17, 2008 12:05pm Jul 17, 2008 12:05pm
Hi,
By the way looks like gotta wait for CME closing again, and let thiose stop orders do their magic.LOL
  • #3,537
  • Jul 17, 2008 12:13pm Jul 17, 2008 12:13pm
The question is ,"How do you evaluate the usd strenght in the market?"
from a fundamental point of view, and here I'm not talking about economic releases?

Du you use intermarket relationships?

How do u know it's safe to enter a trade in an up or a down trend?
Enter Signature
  • #3,538
  • Jul 17, 2008 12:17pm Jul 17, 2008 12:17pm
Quoting fti
Hi,
By the way looks like gotta wait for CME closing again, and let thiose stop orders do their magic.LOL
please whats CME?
  • #3,539
  • Jul 17, 2008 12:19pm Jul 17, 2008 12:19pm
Quoting fti
Hi,
By the way looks like gotta wait for CME closing again, and let thiose stop orders do their magic.LOL
I see continuation of trends in weekly charts.
I wish I can hold my Eur shorts into the next week , but swaps are so expensive that the cost of opening new positions is a lot cheaper!

Also , fti , don't you see ringed tops and bottoms everywhere in the market?
Enter Signature
  • #3,540
  • Jul 17, 2008 12:22pm Jul 17, 2008 12:22pm
Quoting 2fx
please whats CME?
http://www.cme.com/

Rgs,

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