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  • #19,221
  • Aug 11, 2008 12:59am Aug 11, 2008 12:59am
Quoting moneybookers
wait till 2nd test of 14920 area to decide long or short.
strong support at 4950-4965, may not get there
  • #19,222
  • Aug 11, 2008 1:00am Aug 11, 2008 1:00am
Quoting pipmac
GOAWAY
I have great many websites to get links from, but I like reading what people say here. Warren, stop posting 15 links please.
  • #19,223
  • Aug 11, 2008 1:03am Aug 11, 2008 1:03am
Quoting Clouds
I have great many websites to get links from, but I like reading what people say here. Warren, stop posting 15 links please.
Is That Clear ?
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  • #19,224
  • Aug 11, 2008 1:11am Aug 11, 2008 1:11am
Now Warren, I also share similar suspicions. But where do we go from here? Bottom fishing is a fool's game to me. Appreciate your insights. Thank you.


Quoting Warren Forex
I just received an email from one of my trusted information sources that rely heavily on charting.

Since I have read many similar reports this weekend my conclusion is to agree with the following comments as it is the only logical explanation for the substantial move in all currencies other than USD/JPY ...

Our charts were indicating a pullback for the Euro, and other currencies. However, I did not expect it to be this dramatic given the current state of the US economy. The fact that the Euro pulled back so much leads me to only one conclusion - Central Bank intervention!

The US economy is in awful shape and does not appear to be getting any better. But it is well known that the US Treasury must borrow an exceptional amount of money over the coming days. How does the US Treasury get to borrow money at exceptionally low intere$t rates? Simple. Have the Central Banks temporarily buy US Dollars and create the illusion that everything is ok.

And I suspect that's exactly what the US Federal Reserve and the other Central Banks across Europe and Asia have done.
But this fiction is not going to last forever. I suspect the Euro and other currencies are close to a bottom and when they bottom out and start moving up a crisis is going to develop. This is simply the "calm before the storm".
  • #19,225
  • Aug 11, 2008 1:11am Aug 11, 2008 1:11am
Quoting Clouds
strong support at 4950-4965, may not get there
agree the support around 4960 area,but i think it's gonna break soon
  • #19,226
  • Aug 11, 2008 1:14am Aug 11, 2008 1:14am
06:06 EUR/JPY: Repulsed After Trade Back Up To Around 165.00 Tokyo, August 11. EUR/JPY did recover to around the 165.00 level this afternoon before selling off once again. Short-covering is seen to have been behind the push back up to the 165.00 area from the 163.65 spike low seen this morning. The cross initially plunged from around the 165.37 level. It seems a number of players remain long and look to sell into rallies to pare down positions. Others are looking to sell rallies outright with no end seen to the virtual war going on between Georgia and Russia and on-going concerns over EZ growth. EUR/JPY also broke below a number of key supports on the way down since Friday, including the top of its Ichimoku cloud, the 100-day moving average and cloud base, the latter two this morning. The bounce from its lows have taken the cross back above its Ichimoku cloud base at 164.03 and 100-day moving average at 164.49 but the cloud top at 168.68 looks to provide a cap going forward, and the bias should remain down. Key support below is seen at 163.00-10, 38.2% Fibo retracement of the move up from the mid-151 level to just shy of 170.00 between March 20 and July 23. 50% retracement is at 160.85 and 61.8% at 158.69. EUR/JPY currently trades 164.81/84. The market is very choppy, a testament to how thin the market currently is. [email protected]


Things have not settled down as yet. The next hour might be very telling about the rest of the mornings action. I am not getting back into EUR/USD until it goes over 1.5000 and holds.
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  • #19,227
  • Aug 11, 2008 1:16am Aug 11, 2008 1:16am
Quoting Warren Forex
Is That Clear ?
Warren, I like what you write, but I just dont like seeing so many links , but I'll "TRY" to skip over them. But remember about the US,, The US probably prints more euros , more yen, more pounds , then the other countries that are supposed to make them. Especially during peace times.
  • #19,228
  • Aug 11, 2008 1:20am Aug 11, 2008 1:20am
I think all news are welcome. It will give us an idea what to expect and make us see what the BIG GURUS are seeing out there. Thanks Warren. I see you go that extra mile to find direction in this cracy market.
  • #19,229
  • Aug 11, 2008 1:21am Aug 11, 2008 1:21am
Quoting Clouds
I have great many websites to get links from, but I like reading what people say here. Warren, stop posting 15 links please.
Yeah, this is getting annoying, the guy keeps posting like 50 posts with long explanations why the euro is going to go back up. There is no sign on the charts it's going back up so far at all, there's a clear TA target from the big double top and previous major s/r and pivot area at about 47-475, so what's with all this stuff ? Look at your chart and trade your chart, leave your biases to the morning newspaper or the taste of your cofee..
On the path to Enrichment.
  • #19,230
  • Edited 1:25am Aug 11, 2008 1:21am | Edited 1:25am
Quoting ubaidah
Now Warren, I also share similar suspicions. But where do we go from here? Bottom fishing is a fool's game to me. Appreciate your insights. Thank you.
There have been Billions of Dollars of losses since Thursday last.

There are more losses and profits to come. Stand back until things settle down. You can see by the erratic movements. The market is thin. There are numerous issues here that have to be digested and understood by major players. I need to see EUR/USD over 1.5000 to even attempt to go long !

Watch thr Oil price as it is moving up because of Georgia ! Wait until the Europe markets open. Be patient !

Those are some of my thoughts !


Bruce
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  • #19,231
  • Aug 11, 2008 1:24am Aug 11, 2008 1:24am
Quoting Clouds
Warren, I like what you write, but I just dont like seeing so many links , but I'll "TRY" to skip over them. But remember about the US,, The US probably prints more euros , more yen, more pounds , then the other countries that are supposed to make them. Especially during peace times.
I try to do my best here. Just ask me nicely and I will try to accomodate you. Others less experienced have asked me to post links for them. I cannot please everyone here.

I respect you and understand yout point. Thank You !!!


Bruce
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  • #19,232
  • Aug 11, 2008 1:24am Aug 11, 2008 1:24am
Quoting merweg
I think all news are welcome. It will give us an idea what to expect and make us see what the BIG GURUS are seeing out there. Thanks Warren. I see you go that extra mile to find direction in this cracy market.


And I appreciate the links you post - many have become daily reading.
History is written by the victors.
  • #19,233
  • Aug 11, 2008 1:25am Aug 11, 2008 1:25am
Quoting Warren Forex
There have been Billions of Dollars of losses since Thursday last.

There are more losses and profits to come. Stand back until things settle down. You can see by the erratic movements. The market is thin. There are numerous issues here that have to be digested and understood by major players. I need to see EUR/USD over 1.5000 to even attempt to go long !

Watch thr Oil price as it is moving up because of Georgia ! Wait until the Europe markets open. Be patient !

Those are some of my thoughts !


Bruce
This I like, though maybe you forgot to mention where you'll place your short.
On the path to Enrichment.
  • #19,234
  • Aug 11, 2008 1:27am Aug 11, 2008 1:27am
Lower low, lower high (where I increased my short position even more) and now.. Boom! Nice drop.

It's not very usual to see 40 pip long 1 min candle.
  • #19,235
  • Aug 11, 2008 1:27am Aug 11, 2008 1:27am
crazy price action.
  • #19,236
  • Aug 11, 2008 1:27am Aug 11, 2008 1:27am
Quoting moneybookers
agree the support around 4960 area,but i think it's gonna break soon
Support here too
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  • #19,237
  • Aug 11, 2008 1:30am Aug 11, 2008 1:30am
Quoting Jurrasic
Yeah, this is getting annoying, the guy keeps posting like 50 posts with long explanations why the euro is going to go back up. There is no sign on the charts it's going back up so far at all, there's a clear TA target from the big double top and previous major s/r and pivot area at about 47-475, so what's with all this stuff ? Look at your chart and trade your chart, leave your biases to the morning newspaper or the taste of your cofee..
I am not the only one in this forum or are you. Not everyone is technical. You are entitled to your opinion. I am NOT going away and your constant complaints serve no purpose. I win in Forex using FTP as most Winners do. If you win only on technicals GREAT !

I am trying to be helpful. Your constant complaints serve no purpose here. Put me on your ignore list BUT stick to the Topic !

Thank You !!!
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  • #19,238
  • Aug 11, 2008 1:31am Aug 11, 2008 1:31am
Quoting mikkom
Lower low, lower high (where I increased my short position even more) and now.. Boom! Nice drop.

It's not very usual to see 40 pip long 1 min candle.
Yeah, some big dude probably came back from the holidays and dumped a whole lot of euros
On the path to Enrichment.
  • #19,239
  • Aug 11, 2008 1:32am Aug 11, 2008 1:32am
Quoting akirax
crazy price action.
Things need to settle down as I pointed out a few minutes ago !

Good Trading


Bruce
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  • #19,240
  • Aug 11, 2008 1:33am Aug 11, 2008 1:33am
4750 seems a nice target to the downside ! Bulls are out of energy
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