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  • #53,101
  • Dec 31, 2008 6:02am Dec 31, 2008 6:02am
This is daily chart, prepare your shorts.

http://www.shrani.si/f/39/DS/2s9qcbt8/daily.jpg
  • #53,102
  • Dec 31, 2008 6:20am Dec 31, 2008 6:20am
Quoting Terminale
Market useally move long time before the rate is released. I think today he can give us some hints on how deep they will cut it.

I think we could see US unemployment drop to 4xxK or 3xxK again today.
Now I understand: Trichet might hint it, but won't make the announcement today...

Well, in the meantime the EUR/USD went under 1.40, as the dollar gained ground almost everywhere.

The unemployment claims will certainly be interesting.
  • #53,103
  • Dec 31, 2008 6:20am Dec 31, 2008 6:20am
Mikkom, can you explain in short how to read that COT table please.
  • #53,104
  • Dec 31, 2008 6:33am Dec 31, 2008 6:33am
Quoting merweg
Mikkom, can you explain in short how to read that COT table please.

Non-Reportable positions are small speculators (usually wrong)
Commercial positions are financial institutions that hedge (neutral)
Non-Commercial are large speculators (Hedge Funds, Big Boys, etc and they are usually right)

The best use of the COT is when you see a marked shift from one bias to another bias by the Non-Commercial positions.

Hope this helps.

To all a Happy and PROSPEROUS New Year!!!!
  • #53,105
  • Dec 31, 2008 6:38am Dec 31, 2008 6:38am
can i get the url where you get the cot report?
  • #53,106
  • Dec 31, 2008 6:43am Dec 31, 2008 6:43am
Quoting mirex
can i get the url where you get the cot report?

This will get you there: http://www.cftc.gov/marketreports/co...ders/index.htm
  • #53,107
  • Dec 31, 2008 6:49am Dec 31, 2008 6:49am
euro index 2 crows on h4

noone want euro anymore...
im scoring on eur/gbp short and eur/usd short
  • #53,108
  • Dec 31, 2008 6:55am Dec 31, 2008 6:55am
Are we going to 1.33 level so fast?
  • #53,109
  • Dec 31, 2008 7:06am Dec 31, 2008 7:06am
Quoting Srikanth
Are we going to 1.33 level so fast?
we could even break that support in the first weeks of 2009
  • #53,110
  • Dec 31, 2008 7:06am Dec 31, 2008 7:06am
Quoting Srikanth
Are we going to 1.33 level so fast?
So much for the bank holidays.
  • #53,111
  • Dec 31, 2008 7:07am Dec 31, 2008 7:07am
i am short and looking till 1.412x support. if it will break this level it will be long way down.. That's my thoughts
  • #53,112
  • Dec 31, 2008 7:11am Dec 31, 2008 7:11am
sorry, 1.391x looks like we are going down..
  • #53,113
  • Dec 31, 2008 7:12am Dec 31, 2008 7:12am
Quoting 01donatas
sorry, 1.391x looks like we are going down..
yes please
  • #53,114
  • Edited 7:40am Dec 31, 2008 7:16am | Edited 7:40am
alot of SL are about to be triggered if this happen there may be sudden up movement before down careful guys
  • #53,115
  • Dec 31, 2008 7:18am Dec 31, 2008 7:18am
Quoting 01donatas
sorry, 1.391x looks like we are going down..

I see this level as a level of strong support also. It is close to the 38.2 of that larger move up also there is a pivot close also it has been close to this level a few times. Usually when the markets are weak it will whip around then come back quickly to where it started in order to get going with what ever was suppose to happen before the holliday
  • #53,116
  • Dec 31, 2008 7:20am Dec 31, 2008 7:20am
Quoting klinckphilip
I see this level as a level of strong support also. It is close to the 38.2 of that larger move up also there is a pivot close also it has been close to this level a few times. Usually when the markets are weak it will whip around then come back quickly to where it started in order to get going with what ever was suppose to happen before the holliday
dont think those support matters anymore... e/g is driving it down i believe.
  • #53,117
  • Dec 31, 2008 7:22am Dec 31, 2008 7:22am
Quoting Pyramus
alot of SL are about to be triggered this if this happen there may be sudden up movement before down careful guys
I think you are right. I closed my short position now, will wait for little correction upwards.
  • #53,118
  • Dec 31, 2008 7:24am Dec 31, 2008 7:24am
Remember, US Unemployment claims in a couple of minutes...
  • #53,119
  • Dec 31, 2008 7:24am Dec 31, 2008 7:24am
Quoting mirex
dont think those support matters anymore... e/g is driving it down i believe.
very true that could be but my 4h is saying differently. It hit the lowest close 4h down candle like a brick wall and now is hovering We could see more consolidation then look for a move but for now it will slow. We will see with unemployment what happens.
  • #53,120
  • Dec 31, 2008 7:24am Dec 31, 2008 7:24am
5ysfx What do you think about it? It will go down anymore?
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