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  • #28,741
  • Sep 9, 2008 10:26pm Sep 9, 2008 10:26pm
Quoting 5ysfx
see judgement day in ur eyes.


Jon Voight (Angelina Jolie's daddy) in Runaway Train -

When the girl screams at him that he is an animal, he replies "No -- Worse! Human!"

  • #28,742
  • Sep 9, 2008 10:28pm Sep 9, 2008 10:28pm
Quoting fxterrapin
Sure. On my 22"er they don't seem that large.
well, they're not that big on EITHER of my 22"ers, but that doesn't mean I want to use one of them to read posts on....

i'm losing count of how many times you've done this.
FUBAR...
  • #28,743
  • Sep 9, 2008 10:34pm Sep 9, 2008 10:34pm
considering trichet is talking tonight..oil is up and staying up....we may see 1.4275...

on the other hand...got 1.3820?
Different opinions highly valued, ignorant to slander.
  • #28,744
  • Sep 9, 2008 10:36pm Sep 9, 2008 10:36pm
Quoting SunTrader
Step right up, another lamb to the slaughter.
Not at all, LOL. Just curious... and striving for accuracy of information.
  • #28,745
  • Sep 9, 2008 10:37pm Sep 9, 2008 10:37pm
Quoting ak4x
well, they're not that big on EITHER of my 22"ers, but that doesn't mean I want to use one of them to read posts on....

i'm losing count of how many times you've done this.
Shame on me.
  • #28,746
  • Sep 9, 2008 10:39pm Sep 9, 2008 10:39pm
my thoughts.. the daily down move.. is slowing down with more green theses days.. if this keeps up, may spell the end of 08 08 08 move..

sigh..

party doest last
  • #28,747
  • Sep 9, 2008 10:41pm Sep 9, 2008 10:41pm
Quoting acumen
I probably over reacted.

Apologies my friend.

Welcome to this some times combative, entertaining and informative thread.

Mike
Thank you for the welcome.
i sent you a pm.
  • #28,748
  • Sep 9, 2008 10:43pm Sep 9, 2008 10:43pm
I'm also looking forward for this to go up too as upcoming news are more favorable to Euro.
  • #28,749
  • Sep 9, 2008 10:51pm Sep 9, 2008 10:51pm
Quoting psiholog
considering trichet is talking tonight..oil is up and staying up....we may see 1.4275...

on the other hand...got 1.3820?
1.4275 is my current long target for tomorrow, with stops below the lows.
  • #28,750
  • Sep 9, 2008 10:55pm Sep 9, 2008 10:55pm
i am still gunning for shorts... 5 weeks of shorts is strong.. but of course like i say.. its getting slower now..
  • #28,751
  • Sep 9, 2008 10:56pm Sep 9, 2008 10:56pm
Suntrader, this might be the culprit? i'm not too skookum on oil. If i'm understanding this correctly, it's just a few minutes old.

http://www.bloomberg.com/apps/news?p...aME&refer=home
FUBAR...
  • #28,752
  • Sep 9, 2008 11:00pm Sep 9, 2008 11:00pm
Quoting MackS10
1.4275 is my current long target for tomorrow, with stops below the lows.
May I ask why/how you have 1.4275 as a target. I see 1.4250 area as resistance. I think if we do reach 1.4275, that would be the beginning of the break that should reach about 1.4450.

I myself am still bearish on the Euro, but it could turn out to be an interesting day if we consider the oil correlation. We have the cut by OPEC, there will be a drop in oil/gas inventories and another soon to be major hurricane entering the gulf. This is all that is needed to drive oil higher which could lead the USD lower.
  • #28,753
  • Sep 9, 2008 11:07pm Sep 9, 2008 11:07pm
Quoting ak4x
Suntrader, this might be the culprit? i'm not too skookum on oil. If i'm understanding this correctly, it's just a few minutes old.

http://www.bloomberg.com/apps/news?p...aME&refer=home
I agree with this: "The current price is due to slower demand not oversupply,'' said Tetsu Emori, a fund manager with Astmax Ltd. in Tokyo. ``The oversupply is a result and not a reason for lower prices. This is an adjustment of supply and demand only. It will not make the market tight as a result.''

+ + +

Think it will only be good enough for a bounce. A retracement has been overdue anyway. I am trying to figure a upside target for the downtrend to resume.
  • #28,754
  • Sep 9, 2008 11:10pm Sep 9, 2008 11:10pm
As the article mentions OPEC is just trying to get its members to adhere to quotas (i.e. limit overproduction), nevermind trying to cut the actual quotas, at some point.
  • #28,755
  • Sep 9, 2008 11:10pm Sep 9, 2008 11:10pm
Quoting SunTrader
Think it will only be good enough for a bounce. A retracement has been overdue anyway.
thanks.

that fits with everything I don't know about that market..
FUBAR...
  • #28,756
  • Sep 9, 2008 11:10pm Sep 9, 2008 11:10pm
Quoting Pipspur
May I ask why/how you have 1.4275 as a target.
1.4275 is about 7 pips below 61.8% retracement of the fall from this week's high to this week's low.
  • #28,757
  • Sep 9, 2008 11:12pm Sep 9, 2008 11:12pm
Quoting doblece
1.4275 is around 7 pips below 61.8% retracement of the fall from this week's high to this week's low.
yep,...for a break above that level would mean its a bull market again...at least temporarily..thats why last night was so crazy...got a bit too close for comfort for the shorts...
Different opinions highly valued, ignorant to slander.
  • #28,758
  • Edited 11:23pm Sep 9, 2008 11:13pm | Edited 11:23pm
Hi guys.

I would like to clarify my earlier post.

Do I encourage scalping? NO.
Do I discourage scalping? NO.
Are there anyone create wealth from scalping? YES
Are there anyone loss their wealth from scalping? YES

What I meant in my earlier post is that I encourage that any trader should stick with their own proven trading strategies, be it scalping, playing with the major trend, trading with micro trend. And trying to deviate from your trading strategy, is asking for trouble.

Should we ask Cobra/acumen (sorry guys, using you as example) to stop scalping? My personal answer is NO. Cos that is what they are comfortable with and they have good trading records.

Should we ask people to start scalping like Cobra/acumen? My personal answer is NO. This is a dangerous game. If you dunno what you are doing, like what Suntrader said, then u will be a lamb on the chopping board.

So my summary is Stay with your proven trading strategy.
  • #28,759
  • Sep 9, 2008 11:14pm Sep 9, 2008 11:14pm
Quoting Pipspur
May I ask why/how you have 1.4275 as a target. I see 1.4250 area as resistance. I think if we do reach 1.4275, that would be the beginning of the break that should reach about 1.4450.

I myself am still bearish on the Euro, but it could turn out to be an interesting day if we consider the oil correlation. We have the cut by OPEC, there will be a drop in oil/gas inventories and another soon to be major hurricane entering the gulf. This is all that is needed to drive oil higher which could lead the USD lower.
Both numbers could be right or wrong. We wont know till it hits either one, although with the volatily the pair has been moving i wouldn't consider 1.4275 a break of the channel.
  • #28,760
  • Sep 9, 2008 11:14pm Sep 9, 2008 11:14pm
Here is my Elliott Wave target zones for a 5 of 5 wave on 240min chart. It just missed hitting the minimum zone for a reversal. So I think maybe lower before we go back up.
Attached Image (click to enlarge)
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