If today ends around 2600 or below, we might see a big gap down on Sunday.
http://i36.tinypic.com/2q0k77m.jpg
http://i36.tinypic.com/2q0k77m.jpg
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QuoteDisliked
it would help, to know his method, has he not shared it anywhere?
DislikedHe mentioned a week or two ago that it will come the time that he’s going to teach his system but wants to show the crowd before that it works well.
I’m waiting for to sign up, it looks really good till now.Ignored
Dislikedto followup on this post, the 1hr gann is flipping back and forth, so it's literally hanging in the balance for the next 6 minutes... if it closes under the candle, then i'm looking for maybe another 150 on gy. that might help eu get up a little bit, maybe 25 to 30 pips?Ignored
DislikedI follow his blog daily but don't trade his calls untill I fully understand how he takes them, I hope he will soon teach his method.
I imagen now more than less how he workes but still not 100% sure.Ignored
Dislikedwhat is so bad about the European economy? Is it systemic stuff from USA mortgage crisis or more of a main street issue?Ignored
DislikedHey Cobra, have you taken any classes on forex trading? Have you been to www.babypips.com ? You have to remember, E/U and E/J are very easy to trade. You can easily take 50 a day without losing a pip if you do your research and the most important thing is to keep your stops back and stay with the trend. People get into trouble trying to trade counters. You can't be consistant at it, believe me, I thought I could out guess the market for 2 years and $35,000.00 worth. Dont look for trade calls in the room, just go out and learn a bit and you yourself will see how easy it is.Ignored
DislikedI was in Europe for 6 months recently. I talked to a few financial guys and a trader about that very issue. Their main problem had been inflation, which is less of a problem now. They saw the US dollar as potentially weak, long-term, due to the rate at which we in the US borrow (both government and consumers). Aside from US and UK bad paper, European banks are perceived to have good financial bases and tend to make more conservative loans than in the US. I tend to agree, though I do not know how long it will take before US inflation kicks in from the excess money supply. However, it's neither here nor there for us, because we are traders - any direction is fine, except sideways!Ignored
DislikedHi 801, nice to see you here again, do you still hold your short\"?
You should be doing very fine.
nice weekendIgnored
Dislikedthanks tradewell. I am finding that certain eurozone countries are better than others, but the general mood is not a calamitous as USA. Going forward, they are positioned to participate in economic growth with new energy technologies and realtively robust manufacturing. The GDP of the whole Eurozone exceeds the USA and on average is higher per capita, so opportunity exists. I am considering piling in longs, but the firesale of carry trades coming back as dollars is propping things up so prudence is in order.
I know you just want to trade the action, but aren't you at all interested in the cause of the moves? I think the economic disaster we have brought on with the CDO, etc. is unbeliveable. Why did this have to happen in my generation? And what about my kids? I really think alternative energy technology growth is the only hope. the past 8 years have been built on a pile a debt backed up by thin air.
Happy trading
edit: oh regarding the inflation, yeah that seems like a distant memory, and the prospects for an ECB rate cut is real, but after the devaluation in the euro I am thinking a cut may be postponed until they can see the effects of the change in currency. US on the other hand, is factorign a 50 basis point cut next wednesday.Ignored
DislikedActually - looked at my trading history for shits and grins.
Since 8/8/08 I've placed 5 long trades.
The other 1545 were shorts. (Full Disclosure... many more than that but you get the point)
Since then... up 40%.
Guess what... can you believe my bias is still to sell.
Consolidation may be in order but make no mistake... this pair is headed down and I believe I said to 1.1650ish.Ignored