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Technical Analysis Fallacy

  • #10,581
  • Sep 18, 2009 6:25am Sep 18, 2009 6:25am
Looking at a short position on the E/$. Will get back with the results, if any.

Edit: Then again, maybe not such a good idea at this time
  • #10,582
  • Sep 18, 2009 6:37am Sep 18, 2009 6:37am
Short the $/CAD again at 1.0717.

Edit: Square at 1.0700
  • #10,583
  • Sep 18, 2009 6:43am Sep 18, 2009 6:43am
Scout is in short E/$ @ 4714, but may kill it quick here and look to reestablish north if 4730 falls
  • #10,584
  • Sep 18, 2009 6:55am Sep 18, 2009 6:55am
Europian Union is slower then he USA. Now, weak dollar is good space for EU members to invest to US houses, buy new bussinesses... And from the long term perspective,dollar is weak for us here...

It is not only US racing. Now it can be EU-US fighting

Most of time,US have a ball,now i am nearly sure EU have it. Have to weaken Euro because of export.
  • #10,585
  • Sep 18, 2009 6:58am Sep 18, 2009 6:58am
I am long again on the GBP/$ at 1.6344, and will be very tight on this one, maybe 15 pips, will see.
Edit: Square at 1.6335
  • #10,586
  • Edited 7:23am Sep 18, 2009 7:06am | Edited 7:23am
update
update lets see if it will work out something like this, : not cast in stone it's always evolving, never know what the next PA will make it
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  • #10,587
  • Sep 18, 2009 7:29am Sep 18, 2009 7:29am
Auxesis: appreciating...
  • #10,588
  • Sep 18, 2009 7:30am Sep 18, 2009 7:30am
range holding this up

edit: Pound is making its way south, Euro/Pound must be rising, may be on teh wrong pair to take south

edit:x2 When NY comes on line things will get very active, I'm guessing, wont be able to chart for the thread, just trying to show my mindset for the moment, good trading everyone.
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  • #10,589
  • Sep 18, 2009 7:33am Sep 18, 2009 7:33am
auxesis, I am focused on the 1.4694 area below, and 1.4719 above on the E/$. Waiting for the GBP/$ to form up again, and checking the CAD again, too.
  • #10,590
  • Sep 18, 2009 7:41am Sep 18, 2009 7:41am
Quoting GEfx
auxesis, I am focused on the 1.4694 area below, and 1.4719 above on the E/$. Waiting for the GBP/$ to form up again, and checking the CAD again, too.
GEfx,

Yes, this little mini range is holding things up, I don't know how directional we will be today, but I think we will be pretty volatile as we get more into the trading session, so be careful.

or Nimble as everyone says here.
  • #10,591
  • Sep 18, 2009 7:41am Sep 18, 2009 7:41am
Taken a long position on the GBP/$ at 1.6326, and being very tight with it.

Edit: Short the $/CAD at 1.0704
  • #10,592
  • Sep 18, 2009 7:45am Sep 18, 2009 7:45am
Square on the $/CAD at 1.0691 for a very quick trade.

Edit: Square on the GBP/$ at 1.6338 and headed for the sidelines
  • #10,593
  • Sep 18, 2009 7:48am Sep 18, 2009 7:48am
@Fana,

You see how the Euro is stalled, I was looking for Euro to react and make a good break south out of the range, it has not so there's very little vertical directional movement to trade, dont like the current PA, leaving scout in atm below enrty, but will reassess when we move.
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  • #10,594
  • Sep 18, 2009 7:48am Sep 18, 2009 7:48am
Quoting auxesis
Unless there's a late day surge to the top it looks like we are settling into a range......... many things lining up tomorrow, on top of which, did I say witch?

Triple Witching Day is tomorrow, so strap on your seat belts for this weeks finish.

regards,
Hi Auxesis. Is there a set time for Triple Witching? Or does it happen at anytime during the New York session? I am guessing that it takes place when the New York stock market is open sometime after 9.30 am New York time. Thanks Ray
  • #10,595
  • Sep 18, 2009 7:54am Sep 18, 2009 7:54am
Quoting 1234
Hi Auxesis. Is there a set time for Triple Witching? Or does it happen at anytime during the New York session? I am guessing that it takes place when the New York stock market is open sometime after 9.30 am New York time. Thanks Ray
Ray,

Index futures, options, stock options all expire today, so everything must be settled by closing bell.
  • #10,596
  • Sep 18, 2009 7:55am Sep 18, 2009 7:55am
I think the two keys for the GBP are 1.6374 above and 1.6319 below. But, follow PA, no predicting.
  • #10,597
  • Sep 18, 2009 7:58am Sep 18, 2009 7:58am
Quoting auxesis
Ray,

Index futures, options, stock options all expire today, so everything must be settled by closing bell.
Thanks, Nice charts by the way. Ray
  • #10,598
  • Sep 18, 2009 8:06am Sep 18, 2009 8:06am
I think the CAD has squared up with the current price level, so will need to see where we go from here. Sounds like we are all waiting for the euro to make a break one way or the other, and the gbp is positioned to make a move now. Just my opinion. Time for some fresh air and a cup of coffee before the opening bell in NY. Trade well my friends.
  • #10,599
  • Sep 18, 2009 8:20am Sep 18, 2009 8:20am
pulled my scout back out for the moment @17, lows are building north but still below 30 for the moment, it's about to get interesting everyone, wishing all good trades
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  • #10,600
  • Edited 9:09am Sep 18, 2009 8:42am | Edited 9:09am
buy euro 4721

Scout out 4705 on the side lines for the moment, not going to start chasing stuff and ruin a week
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