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  • #141,201
  • Sep 10, 2009 9:22am Sep 10, 2009 9:22am
apparently an Asian name placed a very large sell order right near the top.

like 500MLN euros.

that's a lot of coin and not only retarded any move north but put some serious hesitation on the table.

any time a large bank places this kind of order they are saying - this is it - top or not we aren't going much higher.

now... the bulls won't die that easily so I still see a shot at .4800 but 1.5 like the NY guys are calling... not this month.

my bias remains to the upside and hopefully we continue to sell off into the NY close... where I'll be buying.

Mike
  • #141,202
  • Edited 9:25am Sep 10, 2009 9:23am | Edited 9:25am
Quoting Poidog
What's a half-yard ?
500 mil. euros.
  • #141,203
  • Sep 10, 2009 9:24am Sep 10, 2009 9:24am
Quoting acumen
apparently an Asian name placed a very large sell order right near the top.

like 500MLN euros.

that's a lot of coin and not only retarded any move north but put some serious hesitation on the table.

any time a large bank places this kind of order they are saying - this is it - top or not we aren't going much higher.

now... the bulls won't die that easily so I still see a shot at .4800 but 1.5 like the NY guys are calling... not this month.

my bias remains to the upside and hopefully we continue to sell off into the NY close... where I'll...
Are they selling more today ?????
  • #141,204
  • Sep 10, 2009 9:25am Sep 10, 2009 9:25am
Quoting acumen
apparently an Asian name placed a very large sell order right near the top.

like 500MLN euros.

Acumen, where did you get that info? Thanks....
  • #141,205
  • Sep 10, 2009 9:26am Sep 10, 2009 9:26am
here is a copy of the full release.

Traders report talk of a few sizable sell orders from central banks on the move lower this morning. One report had the Indian central bank selling a half-yard of EUR/USD while another had China doing the same. Typically these guys pick a level and sit on the offer but today they were out smacking bids. Along with talk of SNB interest in USD/CHF and Banque de France selling in EUR/USD in the 1.4580s earlier, It sounds as low the market is being sent a message: Cool it.
  • #141,206
  • Sep 10, 2009 9:28am Sep 10, 2009 9:28am
Good info. thanks.
Quoting acumen
apparently an Asian name placed a very large sell order right near the top.

like 500MLN euros.

that's a lot of coin and not only retarded any move north but put some serious hesitation on the table.

any time a large bank places this kind of order they are saying - this is it - top or not we aren't going much higher.

now... the bulls won't die that easily so I still see a shot at .4800 but 1.5 like the NY guys are calling... not this month.

my bias remains to the upside and hopefully we continue to sell off into the NY close... where I'll...
  • #141,207
  • Sep 10, 2009 9:28am Sep 10, 2009 9:28am
Thanks, but source? I believe you, just curious of source.
  • #141,208
  • Sep 10, 2009 9:30am Sep 10, 2009 9:30am
Quoting Pipster888
Are they selling more today ?????
Isn't that enough?

m
  • #141,209
  • Sep 10, 2009 9:31am Sep 10, 2009 9:31am
forexlive
  • #141,210
  • Sep 10, 2009 9:31am Sep 10, 2009 9:31am
Thanks for sharing that info.

Quoting unBEARable
One report had the Indian central bank selling a half-yard of EUR/USD while another had China doing the same.

thats all i found about the drop.
  • #141,211
  • Sep 10, 2009 9:33am Sep 10, 2009 9:33am
im hearing china desparate from strong USD Massive selloff in chinese stockexchange soon...
  • #141,212
  • Sep 10, 2009 9:33am Sep 10, 2009 9:33am
Quoting bit9ret
Acumen, where did you get that info? Thanks....
if you trade with Oanda they have a free news source.

these guys are plugged in and the majority of their news or rumors come out later as being on the money.

m
  • #141,213
  • Sep 10, 2009 9:33am Sep 10, 2009 9:33am
Quoting fontu
Back to see if 1.4586 broken up , huge build up for this set up.
fontu
yellow lines,is it fib level?
  • #141,214
  • Sep 10, 2009 9:35am Sep 10, 2009 9:35am
spike up & down no one win so far & hope will return to normal situation .starts with test buy order again , the lower the more to add specially below 1.5
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #141,215
  • Sep 10, 2009 9:41am Sep 10, 2009 9:41am
Quoting sophiaphia
please go up!!
thank u forex gods to 1.463333333333 please
----- Dragonfly out in the sun you know what I mean, don't you know
  • #141,216
  • Sep 10, 2009 9:44am Sep 10, 2009 9:44am
Quoting sophiaphia
thank u forex gods to 1.463333333333 please
are you stuck in a long?
  • #141,217
  • Sep 10, 2009 9:46am Sep 10, 2009 9:46am
Quoting acumen
if you trade with Oanda they have a free news source.

these guys are plugged in and the majority of their news or rumors come out later as being on the money.

m

Got it (actually have just not been reading their news, LOL). Have forexlive too, just on wrong page.

Nice to read afterwards WHY it moved. Like a rock dropped into a pond. Scratching my head at that one based on charts alone...

(No way the technicals at that particular pt. on very short term charts pointed to it--but see the pivots etc. on higher scales a lot).

NB: looks like they hit it when the price was starting to rally again on 1mins, ie. good demand over eager longs for them to sell to.
  • #141,218
  • Sep 10, 2009 9:47am Sep 10, 2009 9:47am
So if two very large countries/banks are selling a TON of eurusd (more then usual I'd imagine and both at the same time) couldn't one suspect we are in for a very long fall as they would not be holding those positions and take that kind of risk for just 100pips. Their R/R would have to be better then that....


Something to think about.
  • #141,219
  • Sep 10, 2009 9:47am Sep 10, 2009 9:47am
By the way, Polish bond auction failed and there is a constitutional crisis in Czech. It will go down, but that 1.462 is as fibo to touch as it gets.
  • #141,220
  • Sep 10, 2009 9:47am Sep 10, 2009 9:47am
Quoting unBEARable
are you stuck in a long?
He "likes" that market goes up ... let's see if market will like him too or not.
Discipline + Patience - Fear - Greed = Success
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