EURUSD

Yay... 1.3000 hit and passed and major jump.

done

Remember.... 3080 (first target)...

Just made 89 pips on that move. Long wait tonight for something to happen.

Backing down under again...

target 1,2780

ironic how move happened right after i posted. well we almost tapped the upper wall but not quite. now if the midwall solidifies itself as a support...we may see more movement into the mid 1.31xx. pivots updated in the meantime as well with with resistance 3 at 1.3223

It's close to the end of the month, US election next week and oil is trying to rally too. This rally is most likely just short covering and profit taking. May extend to 1.33-35, good place to put in some short positions.

I'm reversed at 3080... for a while

Edit:

I think that should consolidate this area

amero currency?

Here is a daily chart with a cycle indicator which caught the swing high in Sept (fast/medium/slow cycles came together) and again in October (just the fast though). Also there was a long signal in early October which fizzled, but that is to be expected in a bear market - only consider bear signals. Unless you are a stinky finger, bottom-picker.

Well as you can see on this most recent short term rally/retracement all 3 cycles are lining up again. I think I know what direction the market might be headed soon. That is if the price action confirms by turning back down. If it doesn't then it might be time to consider a new bull trend is underway. IMO odds favor the downside. We shall see.

This particular chart was made on the Sierra Charts platform.

now this is looking like a real uptrend channel. the upper wall is now parallel to the midwall and lower wall. price action should remain contained within the upper wall and midwall now...a retap of the lower wall is not out of the question...good pippin all...my analysis for today is done.

That's been discussed before

-The coins are not government issued

-The coins can be ordered from Daniel Carr (http://www.dc-coin.com/) who designed the coins

-The claim is that the dollar is going to be exhausted because it's losing value. While it's true that it's losing value the United States are borrowing too much. How is a new currency going to fix the problem? This is analogous to an irresponsible person who raked too much debt fix the problem by cutting one credit card to get a new one.

-He's talking about the China Development Bank getting that "money". The China Development isn't the Central Bank. if Hal Turner wants to scare the shit out of people and talk out of his ass, he should at least do the research. The People's Bank of China is the country's central bank. The China Development Bank is just a normal bank.

-Why would Canada and Mexico want to get involved and essentially be dragged down by a new worthless U.S. currency? Canada is having a surplus and they should give it up? For what?

If such thing where to happen within the next 6 months as Turner says and if you believe that. That means you also believe that the U.S. debt will become unserviceable which means that the American government will have no choice but to default on their loans.

If you think 1929 was catastrophic, just wait if the U.S. defaults on their loans.

So everyone holding dollars would end up being destitute overnight? That's what he says anyways. Did everyone in the Eurozone end up being destitute overnight? NO! The governments in Europe declared a value on their currency in comparison to the Euro. That means that if you find a bucket of Deutsche Marks in your Aunt's attic after she dies, you can still trade them for Euros.

I don't believe for one minute that Hal Turner's show was stopped because of pressure from the media and special interest groups. I believe however that people realized that the hot air coming out of his mouth had the same smell as the one coming out of his ass. His site eventually became "subscription only" when he couldn't scrape a living from his 12 visitors clicking ads. At $5/subscription which is what he was charging, you need a lot of subscribers to make a decent living. His site hosting cost got to be more than what he was making from the subscriptions and ad revenues and he shut down. It's easy to say "they" shut me down but it's a lot harder to fess up to having a piss poor business plan.

Also, if the coins are really from "they" and not from Daniel Carr's site, how did he obtain the coin without being guilty of theft?

Shit, my new PC is full of scotch, lol.

Jay, that my friend was the best rendition of what is really going on about this amero coin that I have read to date... Excellent

Thanks Mike.

Cobra, sorry about the new PC. If only I could say how I really feel about that Turner character...

Already dried it up but was too funny, Jay.

You are completely right on your analysis.

BTW: the E/Y is stuck on R2 since 1.5 hours and may bounce back, it's good idea to have a chart open.
Update: finally broke that level.

I was busy today and I missed the huge gain.

Unfortunately I closed my long position from 1.23 around 1.28 right before the small drop expecting a larger retracement. Should have kept with it as you can see it went twice as high now. I was afraid of holding the long position in this downtrend and got rid of it too soon. Though it was a nice profit, I gave it up too soon.

I dont think I will take any more short positions until 1.353 - 1.36. I expect the down trend to continue at that point.

1.33 just doesnt seem that strong anymore.

someone mentioned cramer and how he said on his show yesterday dollar=pump it up. i think its worth noting cramer is full of shit and what he says...most of the time the opposite happens...call him mind control for the clueless masses

I wanted to post this beautiful trade for you guys, but I have been on the road and just got in. I had to catch it on my cell. I hope most of you caught it. It was a Daily chart trade with a 100 pip trail after it broke out of the daily box. I traded it to the next bottom and it netted 249 pips in less than 4 hours. Sorry I couldn't get it on in time. Here is my chart. In and out at the Magenta lines.

Jim