EURUSD

I tried a hedge trade on a Demo account. I'd have to play some more, but to me the profits weren't quite enough to really justify it. I mean, if you got that trade the RIGHT way around with one position, it's all ++, and you have a SL if it doesn't to cut loss short. So yeah... I dunno, hedging seems a good idea, but a bit of a risky one too. =

I'm thinking if we hit the 1.5100 mark we may see a lot of stops being hit and then quickly shoot up to around 1.5283.

This pair is really working hard to reach the 1.51 level, I think if and once it does it will take a nice break!

The debasing of the US currency continues relentlessly. The EUR/USD has busted above resistance, and the attempts to break support (tinted in blue) have consistently failed. Things look grim for the buck.

This kind of breaks tend to attract new money after such a decisive R break following price mark-ups by smart money ..



@ Patience .. hey waz up ..

@ Toshi .. saw some posts today .. nice to have you back to challenge status-quo ..

what causes the price is so bull ? over 3 months consolidation ended without honouable retracements & even for all bull patterns in lowest tf doing the same .only abc & go ,no d or very negligible . usually they are evident in daily & higher tf .
anybody can shade light ? there must be gross fundamental set up to end the bull as soon as possible.
fontu

Lol, I was waiting for D also

one thing is for sure this is such that if u short the trend issue is there u long diverence issue is there..that is the way they want it..its dangerous either way..one thing is for sure it will do what is least expected

I'm not particularly fond of this pair, but maybe it'll keep trending SOLIDLY after this up/down. Most likely UP with the way the USD is going. Still, I think I prefer my USDJPY!

So, short MOFO's, where are you hiding now?

Will Jamie Diamond serve as catalyst for next upward move?

By most measures and indicators the upward move of the past few months is getting a bit tired prompting many to start exercising caution and others to start piling on shorts both as insurance and as a means to profit from either the "healthy market-positive pullback" or "second-phase tsunami down" that is sure to come. I am no exception and have been putting on some of the leveraged contra - ETF's we are all coming to know and love as both insurance against my longs and as a start upon which to build should we start moving down -- even though as noted in my last post I am a bit ambivalent on this strategy.
At the same time the market seems to be resisting the common wisdom that one needs to wait for the next correction to start adding to exposure and appears to want to go higher. That sentiment could turn on a dime though one has to believe if you are in the bubble business -- you are not just going to fall down and let the markets undo all the huffing and puffing up we have seen since March. At the same time any intelligent bubble-maker understands they can't simply will the market up and down for more than a brief period and intervention -- monetary or otherwise -- is only likely to sustain itself if it builds on an underlying trend.
So if one believes this move is getting tired, and will not be sustained by still-weak fundamentals then the question arises as to what can be done to counter a gradual erosion of sentiment that leads to either ala TK "grinding-move" down or even more troubling swan dive as we saw in 2008 and first few months of this year.
A new stimulus program is always a possibility though that requires political cooperation which is not so easy to obtain these days. It also leads to more debt, etc., which likely translates into dollar erosion, higher gold and commodities and other problems. While that may end up happening in any case this is not likely to have quite as much bang for the buck the second time around leading to a reluctance to move in this direction therefore raising the importance of other options?
One interesting rumor in recent weeks is the potential for a new Treasury Secretary a development that has gained additional momentum since a Republican Congressman called for Timothy Geithner's resignation before the Joint Economic Committee and he gave what has been termed a tasty response In the last day or two there have been additional conjecture a prime candidate to replace him will be Jamie Dimon, a Democratic contributor who knows Obama from his Chicago-based Bank One days.


Here is a story from yesterdays New York Post about this possibility:



I posed the question earlier today to the Head of Research for one Hedge fund, forwarding him the Post article and asking: "if this is true -- and it does make some sense -- despite the fact at least in my view it is a bad idea -- the markets rocket when he is chosen no? is that the catalyst for next leg up?
The answer was "It would indeed send the markets up the next level in this new bubble".
Obviously this is just an opinion and we have no idea of knowing whether this will come to pass. Would be interested however in hearing thoughts here as to the odds and timing of a move like this, what would result should it happen, any alternative scenarios, and thoughts on how to play this trade.

Nav

Good week to offload euro longs methinks.
Gold & euro will likely fall like humpty dumpty. Time will tell.
But I'm riding this one down with you brother

20-25 pips a day is an arbitrary number. With my account size I could make a really good living if I leveraged myself all the way and made 20-25 a day. As a matter of fact if you could make that everyday you would probably be a millionaire in much less than a year. How much you risk is more important than a target number of pips imo.

WTF is NY doing??? are they on lunch now?

the thing is like 10 pips away from my stop loss

Leaving early for Thanksgiving, haha. I was hoping for a little profit taking first, but maybe later...

Those who are long are at the pub celebrating.

Those who are short are either sweating profusely staring at the screen. Some are turning their monitor upside down...now...that chart looks better. Some are losing a fortune while sitting on the john suffering from the ulcers their trade gave them.

right right ok, thanks.

Never thought of that.... though I have turned my monitor sideways before to see if helped my research

Curse my short.... and curse those at the pub

It's all a new ball game altogether ... the standards have been raised now ..

I'm not even sure what that means, but anyway I was referring to the 3 pip range I was witnessing at the time.

LOL there they go...