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  • #62,201
  • Feb 5, 2009 7:33pm Feb 5, 2009 7:33pm
Quoting Trading Cat
very nice still going side ways. Just went for a 9km run in the bush. now the EUR can drop
Patience. It will be nothing followed by a flatline on the chart before the downtrend resumes.

http://www.designgonewild.com/img/am...r-in_world.jpg

So get ready for a splash as it heads down and as always, hold on to your f'ing hat
Not all sins are created equal
  • #62,202
  • Feb 5, 2009 7:34pm Feb 5, 2009 7:34pm
Quoting Trading Cat
very nice still going side ways. Just went for a 9km run in the bush. now the EUR can drop

lol i did like a 5 mile run last night waiting for it to drop
  • #62,203
  • Feb 5, 2009 7:36pm Feb 5, 2009 7:36pm
Here a H&S, there a H&S.

It seems nothing is as common as this pattern and nothing fails quite as much it either.
  • #62,204
  • Edited 11:15pm Feb 5, 2009 7:36pm | Edited 11:15pm
Sorry guys/gals, but i feel your going to be in for a long night
of sideways movement prior to nfp. Also unlikley that any
movement will be in $ favor before then - this applies to both
eur/usd & gbp/usd

Chances are I am wrong, but chances are more likley I am right
if history tells us anything.

Not that you can't make pips - but scalping most likely will be
a better option then taking a long term position

AND - Do Not trade during the NFP - Or at least know you are
taking a BIG RISK

Good Luck
  • #62,205
  • Feb 5, 2009 7:37pm Feb 5, 2009 7:37pm
Complete waste of time.

I am taking some time off...

I mean it this time
  • #62,206
  • Feb 5, 2009 7:37pm Feb 5, 2009 7:37pm
made 21 pips scalping now im waiting for that drop
  • #62,207
  • Feb 5, 2009 7:39pm Feb 5, 2009 7:39pm
Quoting golatigo
Sorry guys/gals, but i feel your going to in for a long night
of sideways movement prior to nfp. Also unlikley that any
movement will be in $ favor before then - this applies to both
eur/usd & gbp/usd

Chances are I am wrong, but chances are more likley I am right
if history tells us anything.

Not that you can't make pips - but scalping most likely will be
a better option then taking a long term position

AND - Do Not trade during the NFP - Or at least know you are
taking a BIG RISK

Good Luck
LOL NFP screwed me royally last month. Cost me over half my profit from the month. I must meditiate:

I will not trade Friday

I will not trade Friday.

I will not trade Friday.

OOHHHHHMMMMMM
  • #62,208
  • Feb 5, 2009 7:43pm Feb 5, 2009 7:43pm
MASSIVE MONETIZATION DEAD AHEAD
The funding requirements for the USGovt are fifteen steps beyond colossal. A nasty surprise has already come for those who issue USTreasury Bonds and conduct auctions, A VERY BIG NASTY SURPRISE SO BIG THAT THE MEDIA NETWORKS REFUSE TO MENTION IT!!! The details are in the February Hat Trick Letter, and relate to angry, defrauded, and themselves defensive creditors. Foreign economies must tend to their own lands first and foremost. They also react to fraud on a scale perpetrated against them never witnessed before in human history. Find a time in all annals of history when national savings have been solicited and defrauded on this scale by another nation. There is none! This is the legacy of the Untied States, or better yet Wall Street, which has taken control of its host the USGovt like a cancer. The combination of unfettered usage of federal printing presses to create (and thus debauch) its money, together with abusive bilateral hostile actions directed at creditor nations (like China), together with bailouts & rescues soon to reach $10 trillion, together with continued Wall Street control of the USDept Treasury (see Goldman Sachs), together with a steady stream of major monster fraud cases (see Bernie Madoff), WILL SEND GOLD & SILVER NORTH IN PRICE. Lastly, the rising USTreasury Yield Curve also heralds a rising gold price, as the vile specter of monetization has begun to harm the 10-year and 30-year USTreasury Bond integrity.
''''''''''''''''''''''''
Many astute analysts have declared that the Corrupt Powerz that control the vast manipulated machinery cannot conceivably keep both the US$ and USTBond levitated for long. One had to fall. My conclusion was simple. Any strong selloff of the USTreasurys, pushing bond yields higher, would trigger a credit derivative sequence of events that would result in overnight bank failures and collapse of entire financial markets, starting with a JPMorgan meltdown. It would occur much like a financial nuclear bomb. So the victim will be the USDollar, clearly, by default.


http://www.kitco.com/ind/willie/feb052009.html
  • #62,209
  • Feb 5, 2009 7:43pm Feb 5, 2009 7:43pm
Another reason why those who just don't get it that the US$ is not the only currency in trouble and why oh why it won't just go down ..............

by Kathy Lien 2/4/09:

One of the big stories in the currency market this morning is news that ratings agency Fitch downgraded Russia’s debt to BBB, which is the second lowest investment grade. The Euro immediately sold off on the announcement as investors fear that the Russian central bank will step into the market and stop the Ruble from falling. Over the past 6 months, the Ruble has dropped 27 percent against the Euro and 55 percent against the US dollar.
The credit rating downgrade raises the risk profile for Russia causing many investors to bail. (Why was Russia downgraded?)

The reason why the Euro has been impacted by the developments in Russia is because the central bank manages the Ruble’s value against a basket of dollar and euros. When the basket was introduced in 2005, it was made up of 10% Euros and 90% dollars. The Euro’s share has gradually increased since then and the basket is now 45% Euros and 55% dollars.
If the central bank intervenes to stop the Ruble from falling, they would have to sell Euros and US dollars to rebalance their currency basket.
  • #62,210
  • Feb 5, 2009 7:44pm Feb 5, 2009 7:44pm
might not mean a rats ass with nfp coming out.. but the last 3 or 4 weeks in u.s. session dollar has been getting weak after morning.... then on sunday night in asian session getting strong...if it weakens friday after nfp dust settles it may be something to observe...........
those who can, do. those who cant, talk about those who can
  • #62,211
  • Feb 5, 2009 7:49pm Feb 5, 2009 7:49pm
Quoting tamster
MASSIVE MONETIZATION DEAD AHEAD
The funding requirements for the USGovt are fifteen steps beyond colossal. A nasty surprise has already come for those who issue USTreasury Bonds and conduct auctions, A VERY BIG NASTY SURPRISE SO BIG THAT THE MEDIA NETWORKS REFUSE TO MENTION IT!!! The details are in the February Hat Trick Letter, and relate to angry, defrauded, and themselves defensive creditors. Foreign economies must tend to their own lands first and foremost. They also react to fraud on a scale perpetrated...
Surprise!!!!!!!! were already bankrupt!!
those who can, do. those who cant, talk about those who can
  • #62,212
  • Feb 5, 2009 7:51pm Feb 5, 2009 7:51pm
Quoting TIckerShuffl
LOL NFP screwed me royally last month. Cost me over half my profit from the month. I must meditiate:

I will not trade Friday

I will not trade Friday.

I will not trade Friday.

OOHHHHHMMMMMM

hide your keyboard and mouse that will help u out lol
  • #62,213
  • Feb 5, 2009 7:58pm Feb 5, 2009 7:58pm
Quoting TIckerShuffl
LOL NFP screwed me royally last month. Cost me over half my profit from the month. I must meditiate:

I will not trade Friday

I will not trade Friday.

I will not trade Friday.

OOHHHHHMMMMMM
Right there with you but I go DOOOOOUGHNNNNNUUUUUUTTSSS----DOOOOOUGHNNNNNUUUUUUUTTSSS-----
  • #62,214
  • Feb 5, 2009 8:03pm Feb 5, 2009 8:03pm
"There are some whisperings that job losses may be much lower than the 550K median forecast, perhaps as low as 400K. -- [i][email protected][/i] "
  • #62,215
  • Feb 5, 2009 8:05pm Feb 5, 2009 8:05pm
[00:01 USD/CHF TECHS: Shorts Set For A 1.1600 Dip- - - - - - ^^^^2340^] Sydney February 6. [email protected]
  • #62,216
  • Feb 5, 2009 8:05pm Feb 5, 2009 8:05pm
Quoting kentashiburo
"There are some whisperings that job losses may be much lower than the 550K median forecast, perhaps as low as 400K. -- [i][email protected][/i] "
when will this be released into the media?
  • #62,217
  • Feb 5, 2009 8:07pm Feb 5, 2009 8:07pm
Quoting PipPipPip
when will this be released into the media?
Mate, Thomson Reuters IS the Media!
Not all sins are created equal
  • #62,218
  • Feb 5, 2009 8:10pm Feb 5, 2009 8:10pm
Quoting Jay Walker
Mate, Thomson Reuters IS the Media!
LOL,
  • #62,219
  • Feb 5, 2009 8:11pm Feb 5, 2009 8:11pm
"In preparation for trading this top event risk, we need to put it into the context of speculation and consider the impact this employment gauge could have in altering expectations for growth in the US compared to its global counterparts. In gauging the market’s forecast for this event, there is little doubt that the official projection is already fully discounted. The more important factor, though, is that recent price action shows that fundamental US data does not tend to have a logical impact on the currency. Indeed, with risk trends in the driver’s seat, traders must consider the impact of NFPs on risk appetite. Indeed, if we see that NFPs fall more than expected and the unemployment rate climbs above 7.5 percent, the news could trigger losses in risky assets like stocks, trigger flight-to-safety, and thus, boost the US dollar against currencies like the euro. On the flip side, if job losses and the unemployment rate don’t climb quite as much as anticipated, the news could spark enough optimism to boost demand for stocks and forex carry trades, and subsequently lead the greenback lower."
  • #62,220
  • Feb 5, 2009 8:13pm Feb 5, 2009 8:13pm
If I recall correctly (and its 2 am here so cut me some slack ) last NFP didn't have much impact, and if it stays about the same number as predicted by the ADP (give or take+-50k) I don't expect big moves, everyone isn't suprised anymore, heck the only surprise would be GOOD numbers.
Traders are smartasses
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