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  • #16,941
  • Jul 30, 2008 9:48am Jul 30, 2008 9:48am
ok, crude oil inventory up so logically oil price down right?? But what is happening, the oil price go up up. What a crappy and manipulated market is this.
  • #16,942
  • Jul 30, 2008 9:48am Jul 30, 2008 9:48am
Quoting Shadowfx
Another boost for USD sentiment this morning:

WASHINGTON - President Bush on Wednesday signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets.

Bush signed the bill without any fanfare or signing ceremony, affixing his signature to the measure he once threatened to veto, in the Oval Office in the early morning hours. He was surrounded by top administration officials, including Treasury Secretary Henry Paulson and Housing Secretary Steve Preston.

"We look forward to put in place new authorities to improve confidence and stability in markets," White House spokesman Tony Fratto said. He said that the Federal Housing Administration would begin right away to implement new policies "intended to keep more deserving American families in their homes."

The measure, regarded as the most significant housing legislation in decades, lets homeowners who cannot afford their payments refinance into more affordable government-backed loans rather than losing their homes.
Not good news for the responsible American Tax payer, more debt and the innocent paying for the mistakes of other's poor financial decisions, their not victims. I wish when I made a bad decisiion in Forex that someone would cover me.
OK NOBODY RESPOND TO THIS. this is the EUR/USD discussion
Redefining Reality
  • #16,943
  • Jul 30, 2008 9:49am Jul 30, 2008 9:49am
with 6 variables
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  • #16,944
  • Jul 30, 2008 9:54am Jul 30, 2008 9:54am
Quoting jbadoz
ok, crude oil inventory up so logically oil price down right?? But what is happening, the oil price go up up. What a crappy and manipulated market is this.
Gasoline inventory fell
  • #16,945
  • Jul 30, 2008 9:58am Jul 30, 2008 9:58am
Quoting freetrader
with 6 variables
OK, i see, an armonic pattern, so it is going up now, but hmmm
  • #16,946
  • Jul 30, 2008 10:03am Jul 30, 2008 10:03am
Quoting Clouds
Gasoline inventory fell
my mistake
  • #16,947
  • Jul 30, 2008 10:09am Jul 30, 2008 10:09am
My finding suggest 1.5450 at a 95% confidence interval.
Does anyone see the forthcoming range between 1.5450 - 1.5550 ?
  • #16,948
  • Jul 30, 2008 10:10am Jul 30, 2008 10:10am
Oil enjoying a moment of happiness after a slight draw (-0.1 M) in Inventory..not a major figure..hence small response (+2$) and USD retrace minimal...but enough to save the EUR for now...

IMO lowered chances of break below the 1.552 we seen today however...

Don't see any major retrace signs...so it might be tested once more today...before going into consolidation with a new attempt tomorrow which has a flurry of data for both EUR & USD

As always...Just my 2 cents
  • #16,949
  • Jul 30, 2008 10:16am Jul 30, 2008 10:16am
closed my heavy long on 556*.. might test the low again.. looking for long again on 5500-10 area
Money often costs too much...
  • #16,950
  • Jul 30, 2008 10:18am Jul 30, 2008 10:18am
The scale is enlarged from the previous post. x-axis is time segment.
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  • #16,951
  • Jul 30, 2008 10:43am Jul 30, 2008 10:43am
OIls report..

Do u have any opinion?
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  • #16,952
  • Jul 30, 2008 10:48am Jul 30, 2008 10:48am
Quoting Shadowfx
Theoretically that line was already broken when EUR hit 1.53 in June...shift it back and it makes you realize that 1.575 (22 July) was the key level to break for a strong downward move....

There are more ways then one to read trendlines..

Just my 2 Cents...
Hmm.. I'm sorry, we're either using very different charts or I don't know what. I don't see that on mine at all. That last 53 area low was at least 50 pips above this line as I see it from here.

As it looks, I'd expect a big buying wave to start soon...
On the path to Enrichment.
  • #16,953
  • Jul 30, 2008 11:09am Jul 30, 2008 11:09am
Any opinions?
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  • #16,954
  • Jul 30, 2008 11:17am Jul 30, 2008 11:17am
Quoting ch0c0b4d
Any opinions?
Look for long trades . I didn't see the pattern on my charts, but the price action on the lower TF's told me to get long. On the 4hr chart their's usually some room for play so if you are going to be getting long at least have a little wiggle room to the downside first. ... just my .02
  • #16,955
  • Jul 30, 2008 11:21am Jul 30, 2008 11:21am
Quoting Jurrasic
Hmm.. I'm sorry, we're either using very different charts or I don't know what. I don't see that on mine at all. That last 53 area low was at least 50 pips above this line as I see it from here.

As it looks, I'd expect a big buying wave to start soon...
My mistake, I need to explain that different..

There are four major LTL imo...yours started as 1st diversion of main lower TL in July 2007 at 1.3375, 2nd div in Feb 2008 at 1.475 and the latest div on 8 June at 1.530

With shift back I mean...the third been broken at keylevel 1.575, the second at 1.563 and yours at 1.551 opens the door for a trend reversal with a possible target towards 1.465.

However a break of yours does not mean a drop towards 1.465, a new bullish diversion TL can be created in between 1.551 and 1.465.

I hope this explains it better

Just my 2 cents...
  • #16,956
  • Jul 30, 2008 11:24am Jul 30, 2008 11:24am
Quoting Shadowfx
My mistake, I need to explain that different..

There are four major LTL imo...yours started as 1st diversion of main lower TL in July 2007 at 1.3375, 2nd div in Feb 2008 at 1.475 and the latest div on 8 June at 1.530

With shift back I mean...the third been broken at keylevel 1.575, the second at 1.563 and yours at 1.551 opens the door for a trend reversal with a possible target towards 1.465.

However a break of yours does not mean a drop towards 1.465, a new bullish diversion TL can be created in between 1.551 and 1.465.

I hope this explains it better

Just my 2 cents...
Oh ok cool I'm still expecting to get my 100 pips though.. or maybe even more..
On the path to Enrichment.
  • #16,957
  • Jul 30, 2008 11:26am Jul 30, 2008 11:26am
Quoting ch0c0b4d
Any opinions?
I like to see all the lines on the chart. I think it shows great imagination to superimpose the color blue over the chart to aid in the visualization of the butterfly. Is your gray area the symbol for your price support? Did you draw the butterfly wing into the future and trade the edge down to current levels? That is quite interesting. It looks like it could also be the harmonic bearish bat. Share some insight.
  • #16,958
  • Jul 30, 2008 11:46am Jul 30, 2008 11:46am
Yo ! Guys ...Check this out


pecae...
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Fools Rushing
  • #16,959
  • Jul 30, 2008 11:49am Jul 30, 2008 11:49am
Quoting freetrader
I like to see all the lines on the chart. I think it shows great imagination to superimpose the color blue over the chart to aid in the visualization of the butterfly. Is your gray area the symbol for your price support? Did you draw the butterfly wing into the future and trade the edge down to current levels? That is quite interesting. It looks like it could also be the harmonic bearish bat. Share some insight.
I use indies to do all those job,,
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  • #16,960
  • Jul 30, 2008 1:08pm Jul 30, 2008 1:08pm
Well, I'm out, nice pips. Will put a small buy order for around 535 I think just in case, though I doubt it'll be reached again. Good luck to all.
On the path to Enrichment.
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