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  • #73,881
  • Mar 11, 2009 3:30am Mar 11, 2009 3:30am
A touch of 1.2686 will confirm a short term run. Then we'll check out the hourly.
  • #73,882
  • Mar 11, 2009 3:31am Mar 11, 2009 3:31am
didnt break 1.2680 ,Down she comes tp 1.2600
  • #73,883
  • Mar 11, 2009 3:32am Mar 11, 2009 3:32am
Quoting gatorinla
Bear Flag ...
A bear flag interrupts a decline in price, it does not have to be a sharp decline. I have at least 3 books that state this clearly.
  • #73,884
  • Mar 11, 2009 3:32am Mar 11, 2009 3:32am
Quoting psiholog
ah the beauty of double tops and double bottoms. pay attention closely to this for it will blow your mind.

earlier today or yesterday i mentioned a possible W formation with tips of the head at 1.2625. So far it does look like we are forming one....the neckline is at 1.2725 so that would fuel a run up to 1.2825 if it truly develops. Earlier i mentioned a possible W formation every since the china news really with current neckline at 1.2680 which would fuel a run up to the 1.2725 level. Now here is where it gets interesting. For that small W to...
This is real interesting, psiholog, as I see something which could mean a strong downside move, as these kind of formed pennants most frequently break that way..... But, and as you cautioned, the Bigguns' (as Al would say) may have a different gameplan in mind.
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  • #73,885
  • Mar 11, 2009 3:34am Mar 11, 2009 3:34am
A break of 2736 clears the way for 2800 again.

J


Quoting donutman_111
A touch of 1.2686 will confirm a short term run. Then we'll check out the hourly.
  • #73,886
  • Mar 11, 2009 3:37am Mar 11, 2009 3:37am
Europe is finished from every perspective to me
The only reason the currency was formed was to make Europe look like an emerging market.

Europe has higher Corporate debt than America, 95 percent of GDP versus 50.
Europe has aging population
Europe is too expensive for anyone from outside to visit
European banks owe American ones 6 trillion
If Margin calls were to be called in now Europe would collapse
No European form of government has been successful.
European banks are more highly levered.
If not for bailouts in America that passed money onto European banks, they would be on their knees.
Europe is importing more from China and Asia with this super strong currency of theirs.
Industrial production is declingin just as fast as during great depression in Europe
They will struggle with exports even VW is crying

Show me one point where Europe is stronger than the rest. The political union will crumble under German propaganda.
  • #73,887
  • Mar 11, 2009 3:38am Mar 11, 2009 3:38am
wave chart, nearest target 1.2820
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  • #73,888
  • Mar 11, 2009 3:39am Mar 11, 2009 3:39am
Quoting NuckingFuts
A bear flag interrupts a decline in price, it does not have to be a sharp decline. I have at least 3 books that state this clearly.
this one had a good pic and it was the first i saw.. i know the pole could be shorter... thats why i said "huh" im still waiting for elevator down.. i got locked in pips already...
those who can, do. those who cant, talk about those who can
  • #73,889
  • Mar 11, 2009 3:40am Mar 11, 2009 3:40am
Quoting T.E.Lawrence
So I was right after all. But how do you get volume in Forex - or do you use other market volume like futures (I've heard some folks are doing that).
It is in-fact incorrect. It's the psychology behind the pattern that has the most meaning. This is why bearish channel formations (flags without the pole) can occur at the end of a bull run and vice-versa for bullish channel formations at the end of a bear run. Much the same with pennants, or rising/falling wedges as they are termed. Same psychology behind the pattern.
  • #73,890
  • Mar 11, 2009 3:40am Mar 11, 2009 3:40am
Quoting traderathome
This is real interesting, psiholog, as I see something which could mean a strong downside move, as these kind of formed pennants most frequently break that way..... But, and as you cautioned, the Bigguns' (as Al would say) may have a different gameplan in mind.
agreed....we can still go either way. 1.2625 makes all the difference to me. after all ...most of my trades this week were based off that level whether going to or starting from....with 220 pips locked in based on just pa seeying that level as a magnet to bounce from or to break...i wouldnt mind getting stopped out once in a while
Different opinions highly valued, ignorant to slander.
  • #73,891
  • Mar 11, 2009 3:43am Mar 11, 2009 3:43am
Quoting psiholog
ah the beauty of double tops and double bottoms. pay attention closely to this for it will blow your mind.

earlier today or yesterday i mentioned a possible W formation with tips of the head at 1.2625. So far it does look like we are forming one....the neckline is at 1.2725 so that would fuel a run up to 1.2825 if it truly develops. Earlier i mentioned a possible W formation every since the china news really with current neckline at 1.2680 which would fuel a run up to the 1.2725 level. Now here is where it gets interesting. For that small W to...

i hope it will happen soon, i miss the 1.33 wall, i want to get revenge
  • #73,892
  • Mar 11, 2009 3:45am Mar 11, 2009 3:45am
Quoting lloydblankfe
Europe is finished from every perspective to me
The only reason the currency was formed was to make Europe look like an emerging market.

Europe has higher Corporate debt than America, 95 percent of GDP versus 50.
Europe has aging population
Europe is too expensive for anyone from outside to visit
European banks owe American ones 6 trillion
If Margin calls were to be called in now Europe would collapse
No European form of government has been successful.
European banks are more highly levered.
If not for bailouts in America that passed money onto...
dont forget they got 24 trillion in bad debt. yep aig passed money to them..
those who can, do. those who cant, talk about those who can
  • #73,893
  • Mar 11, 2009 3:48am Mar 11, 2009 3:48am
Quoting NuckingFuts
It is in-fact incorrect. It's the psychology behind the pattern that has the most meaning. This is why bearish channel formations (flags without the pole) can occur at the end of a bull run and vice-versa for bullish channel formations at the end of a bear run. Much the same with pennants, or rising/falling wedges as they are termed. Same psychology behind the pattern.
All right, all right. But do you have any thoughts on volume in forex or some other volume indicator grabbed from other market? I'm really intrigued.

P.S.

Yes I know, we can't calculate global volume in forex.
  • #73,894
  • Mar 11, 2009 3:52am Mar 11, 2009 3:52am
Quoting gatorinla
dont forget they got 24 trillion in bad debt. yep aig passed money to them..
If Europe has coroporate debt 95 percent of GDP. That is 12 trillion, plus another 6 trillion they owe America. If the fed was to call in all their money they have lent to Europe I asssume that would be another 20 trillion. Not to mention Europe may require a 20 trillion dollar bailout.

http://www.telegraph.co.uk/finance/f...ent-warns.html

Europe is finished like Jim Rogers has said all they need now is more EU propaganda.

The morons still think Stocks in Europe should rally after what happened in Wall Street. Europe will get drowned.

Forgot to add Europe still cannot feed itself.
  • #73,895
  • Mar 11, 2009 3:54am Mar 11, 2009 3:54am
Quoting T.E.Lawrence
All right, all right. But do you have any thoughts on volume in forex or some other volume indicator grabbed from other market? I'm really intrigued.

P.S.

Yes I know, we can't calculate global volume in forex.
volume has gone down since less things are being purchased import/export around the world..waiting for the exchange banks to raise spreads..
those who can, do. those who cant, talk about those who can
  • #73,896
  • Mar 11, 2009 3:54am Mar 11, 2009 3:54am
gpb/usd getting hammered
  • #73,897
  • Mar 11, 2009 3:55am Mar 11, 2009 3:55am
does this look like a good drawing of a channel .. or am I doing something wrong with it..

plz anyone...
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If you need something important don't hesitate to ask someone else.....
  • #73,898
  • Mar 11, 2009 3:56am Mar 11, 2009 3:56am
Quoting T.E.Lawrence
All right, all right. But do you have any thoughts on volume in forex or some other volume indicator grabbed from other market? I'm really intrigued.

P.S.

Yes I know, we can't calculate global volume in forex.
I'll butt in here and say, "I doubt we will ever see an effort to collect world-wide volume information and make that an integral part of any forex data feed." That would reveal what the Central Banks and other Big Guns are doing, and they prefer it the way it is......an almost total lack of transparency. All we get are up/down tick counts....not even the tics while the price remains unchanged! And more importantly, we don't even know how big ANY order IS!!!!!!!!! And the Bigguns' love it that way. Existing forex volume information is like trading stocks when the only volume information you are allowed to have is how many times the price changes!
  • #73,899
  • Mar 11, 2009 3:57am Mar 11, 2009 3:57am
since ive been screaming bull all day (which i still am)...i will get the bear perspective into this now. ak4x made mention of this earlier..not sure if he followed it up. While this whole W talk of mine is going on..there is a potential h&s forming as the chart will show...a very dirty looking one at best. In any case...as mentioned before...1.2625 is the determining level for any further pa. To the upside...1.2680 followed by 1.2725 are significant values before we risk forming a double top. Anyones game really...I base my decisions off my gut instinct and watching pa too much haha.

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Different opinions highly valued, ignorant to slander.
  • #73,900
  • Mar 11, 2009 3:57am Mar 11, 2009 3:57am
At 1.2664. S/Loss 1.2705.

For anyone considering a short at this area!
Good Trading. (keep it simple).
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