Trade what you see NOT what you expect

Good morning from the horse capitol of the world.

After the close of the weekly candle from last Friday I wouldn't be surprised to see the pound head strongly down.

We're close to retesting yesterday's lows. If we break through, then ...

Hi Al.

Which day is the UK having summer this year?

Hi mate. I think it was on 31 May. Might have missed it.

I'll be glad to send you a little of our heat, if you'd like. I's been 95 F the last couple of days. I can only guess how bad it'll be when summer actually gets here.

Good morning. Can you talk to Johnny T. for me, I may need to borrow his big jet to haul all the pips I have been making today.

We had 94 here yesterday but the pool was 80.

From what I read, Johnny's been in seclusion from the death of his son. He's supposed to be promoting his new movie with Denzel Washington, but he hasn't been up to it.

Johnny's only got a 707. It sounds like you need at least a 747. Your wife should be a very happy lady!

I'm jealous!

She has no idea yet. Going to surprise her.

That should be good for some very HS.

Gotta run. Good luck!

Take care see ya later.

hi eohater

this is my view now

care to elaborate

Hey EO we are going to need a bigger truck.

Here you go

Q: Just how big is this truck?

A: Well, empty it weighs in at 224 tons (203 tonnes), it's 24 foot 3 inches (7.4 metres) tall over the canopy, 47 feet 6 inches (14.5 metres) long with a wheelbase of 21 foot 6 inches (6.6 metres). And it can carry loads of 400 tons (365 tonnes). So that's an overall weight when loaded of 624 tons (568 tonnes).

How similar is it to an ordinary truck you would see on the highway?

A: It's quite different from what you might expect. For a start there isn't one huge engine powering the wheels, as you would get in a regular truck. Instead, a 3650-horsepower (2723-kilowatt) diesel engine generates power for two electric motors in the rear axles. So it's more like a huge electric railroad locomotive than a conventional truck. Older giant trucks used a DC electrical drive system but this one uses AC, which is more efficient.

Q: It must cost a fortune...

A: In the US, $3million. In the over-300-ton range there are probably 50 to 75 trucks sold each year worldwide. Our big trucks end up used in coal mines in Wyoming and Australia, copper mines in Chile, in iron extraction in South Africa and in gold mines in Nevada.

Q: What's it like to drive?

A: It's like driving a house. After you've been around a lot, it's not as exciting as if suddenly someone said: "Would you like to drive one?" You'd go crazy in that case! It's not hard to drive, basically like driving an automatic shift car.

Here are some technical details about the truck.

Q: So how have you done it?

A: We work with a lot of other people. There's four major components of the truck: tyres, engine, drive system, and then structure. To have a good truck all four of those have to match. So we had to have somebody to build an engine for us. That's been Detroit Diesel MTU (DDC/MTU) and Cummins. Siemens has designed the drive system, the electrical control and electric motors and so on. The tyres were developed by Michelin and Bridgestone.

Q: How on earth do you stop these great beasts? Surely not with ordinary brakes.

A: That is a real problem. We have electric retarding, we can generate up to 6000 horsepower of retarding effort using the electric motors. And that's a primary speed control going down hill. In an emergency we have this brake, similar to what you have on your car, only bigger. And you can overheat them and destroy them in a hurry.

I think that will work at least for this week.

Anyone still trading this afternoon?

Im tempted with a little short on the hour. Short term, then a reversal for continuation up up and away.

I'm done trading for the week and Mr Crown is out by the pool calling me. Have a great weekend.

Mr Crown = King of beers?

http://www.crownroyal.com/

urgh petrol

Here's my monthly view. Last month gave us a bullish full candle supporting a further move north. We're lying at the 38.2% retracement level. I can see this pushing further north to the 50% retracement level. Maybe not this month, might be next. We'll have to look once this monthly candle closes. I've marked where I see resistance at 1.69 and 1.716x. Of course, 1.70 will be a psychological level to cross, but can be taken out. This would lead us to the 50% retracement of 1.733x.

Now, on the flip side of long bias, I have to look at the short side. Again, we've come off a bullish monthly candle and this working monthly candle is showing indecisiveness. We can see the lower wick has picked up buyers which mean they will not be so close next time (NEXT MONTH BECAUSE WE'RE LOOKING AT A MONTHLY CANDLE). Now, this bottom wick would support shorts next month should we get a shooting star close. As to this working monthly candle, I can see buyers still sitting around 1.57 and 1.546x