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  • #119,401
  • Jul 8, 2009 4:47am Jul 8, 2009 4:47am
Quoting avi
thx .my predict 1.3894,1.3907,1.3919.i watch your ph pl evry day and mp of them are strong no.
as my system point your pl week and low day 1.3859 returun to 1.3894,1.3907,my predict no.(morning was short 1.3907, 1.3894) your mp no. for today 1.3971 strog no.(1.3949) watch my act predict no, how many times returun the no.(and buy and sell)
  • #119,402
  • Jul 8, 2009 4:51am Jul 8, 2009 4:51am
Quoting avi
as my system point your pl week and low day 1.3859 returun to 1.3894,1.3907,my predict no.(morning was short 1.3907, 1.3894) your mp no. for today 1.3971 strog no.(1.3949) watch my act predict no, how many times returun the no.(and buy and sell)
Hi Avi, sorry for question - but are you saying buy 3949 TP @ 3971....cheers MT
  • #119,403
  • Jul 8, 2009 4:56am Jul 8, 2009 4:56am
The eur is still clinging to the recent range but looking somewhat vulnerable in the current 'risk off' mode . Apparent real money demand helped induce a squeeze to 1.4051 yesterday and today we are stubbornly supported at lower levels . Recent speculative activity seems to have focussed on the buying of downside strikes . The short term fate of the eur seems to hinge on risk , commodities and the depth of support . Trichets dovishness and ease in s/t rates should keep the euro on the back foot . I think we are still in a range , though threatening a downside break . I am loath to try and sell with the downside momentum just yet and would rather look to fade rallies . 1.3930/50 should be a reasonable intra day level to initiaite shorts with further resistance likely at 1.4000 . Support should emerge at the late June double bottom just above 1.3825 and this protects the critical band of support at 1.3720/40 .
  • #119,404
  • Jul 8, 2009 5:00am Jul 8, 2009 5:00am
Quoting MrTrendy
Hi Avi, sorry for question - but are you saying buy 3949 TP @ 3971....cheers MT
if pass 1.3949 move to 1.3971. watch how my predict no. act
  • #119,405
  • Jul 8, 2009 5:01am Jul 8, 2009 5:01am
Quoting avi
if pass 1.3949 move to 1.3971. watch how my predict no. act
cool. thanks Avi.

MT
  • #119,406
  • Jul 8, 2009 5:12am Jul 8, 2009 5:12am
Hi there

GBP stands 10 hours in a Range.

The Range is 40 Pips.

What's the matter ?

Be Happy.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 17 KB
  • #119,407
  • Jul 8, 2009 5:17am Jul 8, 2009 5:17am
hi,

anyone have an opinion re a possible pump up to the 61.8 fib (3975 ish) level before an afternoon dump in the US (after lunch ET)....

MT
  • #119,408
  • Jul 8, 2009 5:22am Jul 8, 2009 5:22am
Quoting MrTrendy
hi,

anyone have an opinion re a possible pump up to the 61.8 fib (3975 ish) level before an afternoon dump in the US (after lunch ET)....

MT
Could go even a bit higher than that (1.40ish)... I'm opening shorts w/ any spikes and setting a tight SL, looking for the best entries before the next selloff. For example, I opened a short at 3929 and SL is now at BE.
  • #119,409
  • Jul 8, 2009 5:35am Jul 8, 2009 5:35am
Quoting F.x.
Could go even a bit higher than that (1.40ish)... I'm opening shorts w/ any spikes and setting a tight SL, looking for the best entries before the next selloff. For example, I opened a short at 3929 and SL is now at BE.
cool, cheers for opinion. if it goes down from here i'm likely to be a seller below 3890ish however ST trend bias on my 5min chart is still looking up. selling now feels to risky to me....(not saying i'm right you understand). gonna wait til this arvo before considering short (if we have rallied that is)

good luck mate!!

MT
  • #119,410
  • Jul 8, 2009 5:38am Jul 8, 2009 5:38am
Quoting reload.ir
Hi there

GBP stands 10 hours in a Range.

The Range is 40 Pips.

What's the matter ?

Be Happy.
Could be bottoming.
  • #119,411
  • Jul 8, 2009 5:39am Jul 8, 2009 5:39am
if we hold above 3910 and momentum turns positive i'll consider long....although it will be a small long as I think action is now dead til NY open?

MT
  • #119,412
  • Jul 8, 2009 5:43am Jul 8, 2009 5:43am
Actual: +3.7% mom, -18.1% yoy
Previous: -2.6% mom, -22.2% yoy
Released: Wednesday, July 08, 2009 at 12:00 (Germany)

Production jumps in May

German industrial production2009 May Apr Mar Feb Jan Dec NovHeadline (mom)3.7-2.60.3-3.4-6.3-3.9-4.0(yoy)-18.1-22.2-20.0-21.0-18.1-11.6-7.3

 

  1. Industrial production rose 3.7%mom in May, a lot stronger than expected (GS: +2.3%, BBG consensus: +0.5%). April was revised down to -2.6% after -1.9% initially.
  2. Among the sectors investment goods showed the biggest increase rising 8.3%. Construction was down 3.2%mom and energy recorded a decline of 3.8%mom.

The rebound in activity, signaled by business sentiment for quite some time, is finally coming through in the hard data. Together with yesterday's positive surprise from manufacturing orders this shows that things in the manufacturing sector are indeed genuinely improving. The overall level of activity, however, is still depressingly low; almost 20% below the level recorded in August 2008.

Industrial production will be probably still slightly negative in Q2:09, but there is a small upside risk now to our GDP forecast of -0.3%qoq after today's figures.

  • #119,413
  • Jul 8, 2009 5:52am Jul 8, 2009 5:52am
Quoting MrTrendy
Actual: +3.7% mom, -18.1% yoy
Previous: -2.6% mom, -22.2% yoy
Released: Wednesday, July 08, 2009 at 12:00 (Germany)

With such fundamentals supporting a move up, this pair should be zooming up, but is being held back by GBP/USD
  • #119,414
  • Jul 8, 2009 5:55am Jul 8, 2009 5:55am
Quoting Atlast
With such fundamentals supporting a move up, this pair should be zooming up, but is being held back by GBP/USD
GU Could be about to reverse tho? what do you think? its right on the edge - up or down. buy now with tight stop not bad rr imo
  • #119,415
  • Jul 8, 2009 6:00am Jul 8, 2009 6:00am
Quoting MrTrendy
GU Could be about to reverse tho? what do you think? its right on the edge - up or down. buy now with tight stop not bad rr imo
was talking about a quick long scalp btw

I would however sell GU and deff hold off on any potential EU long on a GU break of 6050....

MT
  • #119,416
  • Jul 8, 2009 6:07am Jul 8, 2009 6:07am
Quoting stevefx
Thanks for the numerical lecture. I was just wondering why..., no offense though...

That's actually very funny!
  • #119,417
  • Jul 8, 2009 6:10am Jul 8, 2009 6:10am
Quoting fxswing
1 - Each trade is a bet, right or wrong...

4 - Uncertainty is the essence of the markets. People that have strong beliefs with market direction, and know it for sure, are just bound to be humbled again and again by Mr market
Humbug!

Of course you can have a strong belief about market direction the important thing is that you trade your setups not what you believe is going to happen.

We ALL are humbled by Mr. Market from time to time. Afterall, we are human.
  • #119,418
  • Jul 8, 2009 6:15am Jul 8, 2009 6:15am
Quoting notch
Humbug!

Of course you can have a strong belief about market direction the important thing is that you trade your setups not what you believe is going to happen.

We ALL are humbled by Mr. Market from time to time. Afterall, we are human.
spot on I talk about loads of ideas etc but only trade when system says so!!
  • #119,419
  • Jul 8, 2009 6:15am Jul 8, 2009 6:15am
Tonight I got my account destroyed by Mr Market.
Lost ~5k. Oh well...
cut losses short, let profits run.
  • #119,420
  • Jul 8, 2009 6:15am Jul 8, 2009 6:15am
Quoting Domas4
Tonight I got my account destroyed by Mr Market.
Lost ~5k. Oh well...

Yes but that is less than 10% of your account...right?
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