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  • #38,101
  • Oct 8, 2008 12:18pm Oct 8, 2008 12:18pm
Quoting psiholog
whatever fundamentals may be...do not forget that fundies are forever intertwined with technicals. these charts that we all see is what allows the "market makers" to make their money based on what patterns they want to use. thats why my profile says eur/usd only...each pair acts differently.

in any case...i post charts for the short term all the time. however..take a look at this long term chart...a weekly one...it explains greatly todays events..fundamentals or not

Attachment
It was not only because of that chart, but help me to start felling some resistance here!
  • #38,102
  • Oct 8, 2008 12:18pm Oct 8, 2008 12:18pm
I am extra careful with my Euro short now....*this is all I can say..


Sonic
  • #38,103
  • Oct 8, 2008 12:21pm Oct 8, 2008 12:21pm
EURO strength against the $ is just unbelievable!! all the currencies loosing ground to the $ except the EURO. fuck whats happening
When life gives you lemons, make lemonade
  • #38,104
  • Oct 8, 2008 12:22pm Oct 8, 2008 12:22pm
Quoting acumen
I know a bank trader and they play intra-day session game and stop hunting game.

They know exactly where stops are being placed and they wait until price hits a trend line that most believe should break and then as soon as it dips below they buy heavy for 20 PIPS then sell.

Lot's of stops at .3750 so bulls will really try to make a push for it.
this market is pretty big and for one bank to push it around is hard to fathom.

Stop hunting is feasible, and that's why I don't use them :o Im crazy like that.
  • #38,105
  • Oct 8, 2008 12:28pm Oct 8, 2008 12:28pm
this thing is holding to the Gann lilnes just follow the wave .....sine or Co.
T.S.
  • #38,106
  • Oct 8, 2008 12:29pm Oct 8, 2008 12:29pm
All shorts.

Every move these bulls made I was on the other side.

Again... this environment only strengthens my outlook long term

Down... Down...Flush.
Attached Image (click to enlarge)
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  • #38,107
  • Oct 8, 2008 12:29pm Oct 8, 2008 12:29pm
Quoting TIckerShuffl
this market is pretty big and for one bank to push it around is hard to fathom.

Stop hunting is feasible, and that's why I don't use them :o Im crazy like that.
central banks can do that....
When life gives you lemons, make lemonade
  • #38,108
  • Oct 8, 2008 12:31pm Oct 8, 2008 12:31pm
Quoting TIckerShuffl
this market is pretty big and for one bank to push it around is hard to fathom.

Stop hunting is feasible, and that's why I don't use them :o Im crazy like that.
If not trend line protectors then I'm clueless.

If you can find a logical reason for the bullish move I'd love to poke holes in it.

Tiki - I don't use stops either.
  • #38,109
  • Oct 8, 2008 12:31pm Oct 8, 2008 12:31pm
sure won't be good for exports...

remember that was the driving force for the economy in the last line of crap from the news channels. They forgot to mention how it would drive up commodity prices and cost of imports. Since US doesn't really have much left to sell, I guess no need for dollars anymore...hmmm

I'd like to hear some definitive calls from the gallery.

Where you putting your money to work???
  • #38,110
  • Oct 8, 2008 12:31pm Oct 8, 2008 12:31pm
if you dont lose, the banks will not win... so they keep doing that until hitting major stop losses. when they see that the volume of the shorts is small they push it down again and do the same again for the longs
When life gives you lemons, make lemonade
  • #38,111
  • Oct 8, 2008 12:33pm Oct 8, 2008 12:33pm
16 hrs ago was totlly a buy? Gonna sit on my trigger for a minute
where will it go in next hour???
T.S.
  • #38,112
  • Oct 8, 2008 12:34pm Oct 8, 2008 12:34pm
Quoting micho
if you dont lose, the banks will not win... so they keep doing that until hitting major stop losses. when they see that the volume of the shorts is small they push it down again and do the same again for the longs
You make it sound like Atlantic City...Anyone wannya go short??? this thing is movin'.
T.S.
  • #38,113
  • Oct 8, 2008 12:38pm Oct 8, 2008 12:38pm
Quoting psiholog
depends how you view it. to me this is huge whats happening now...we broke out of a major downtrend some hours ago and all attempts to reenter the channel failed. this doesnt seem to be a case where the wall gets extended so if this move up holds its ground...we may see further upside the next few days. sure it may not help me now but later in the asian session or london session i will know how to trade...buy only on the dips as there is more bullish sentiment...at least up until 1.3882(previous low a few weeks ago which should now be strong resistance....just my 2 cents haha

Attachment
Nice analysis dude, you were right. It broke out upwards. Secretly I was hoping you'd be right because I had two negative trades in EUR/JPY. I profited quite nicely too. I hope you profited well also
  • #38,114
  • Oct 8, 2008 12:43pm Oct 8, 2008 12:43pm
I don't know exactly when we touch 1.38 - today or tomorrow.
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  • #38,115
  • Oct 8, 2008 12:44pm Oct 8, 2008 12:44pm
The Hr4 chart is now showing a standard Bollinger band pinch. The multiple strikes upwards this session only emphasize the support from 4-5 days ago. These upwards strikes get to that area of support now turned resistance, but do not penetrate it.

To me, it looks like the price range defined by the wicks of the Hr4 candles yesterday and today, and the body of the current one, simply represents an area the central banks and hedge funds are using to offload long positions and replace with short positions. It is just an opinion. But if this is what is going on, when these big players are finished they will give it a strong push down to get their profits started.
  • #38,116
  • Oct 8, 2008 12:45pm Oct 8, 2008 12:45pm
Quoting forexsystems
I don't know exactly when we touch 1.38 - today or tomorrow.
It's coming, IMO
  • #38,117
  • Oct 8, 2008 12:46pm Oct 8, 2008 12:46pm
Quoting T.s.
You make it sound like Atlantic City...
it is how they make their money, simple theft
When life gives you lemons, make lemonade
  • #38,118
  • Oct 8, 2008 12:46pm Oct 8, 2008 12:46pm
Quoting altrader
Nice analysis dude, you were right. It broke out upwards. Secretly I was hoping you'd be right because I had two negative trades in EUR/JPY. I profited quite nicely too. I hope you profited well also

Look at your Hr4 chart over the last several sessions.....this has not broken out! It is simply in the top of the existing range.
  • #38,119
  • Oct 8, 2008 12:51pm Oct 8, 2008 12:51pm
i see a thirteen day cosine tapping out tomorrow, but who really has the answer???? the chartsssssss
T.S.
  • #38,120
  • Oct 8, 2008 12:52pm Oct 8, 2008 12:52pm
Quoting T.s.
i see a thirteen day cosine tapping out tomorrow, but who really has the answer???? the chartsssssss
they lie T.S.! they lie!!!! at least .. some times.
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