Do not follow the path trodden by human laziness.
- #166,504
- Nov 27, 2009 6:21am Nov 27, 2009 6:21am
- Joined Apr 2009 | Status: Live and learn. | 25,162 Posts | Online Now
"If The Fool persists in his Folly he will become wise." - William Blake
The US stock market hasn't had a chance to respond to the Dubai news, since NYSE was closed on Thursday. US Stock futures are way down but have been so for hours. US stocks are likely to open way down but hard to say whether they might not trade up out of the funk as Europe did today. Tough call, could go either way when the dust settles on Friday. Glad I'm a scalper.
- #166,510
- Nov 27, 2009 6:43am Nov 27, 2009 6:43am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
Somehow i feel big move down will happen after NYC open, stocks probably dive deep at start...and drag EUR along. Before it this sucker might run around without destination at 1.4900 +/- 15 pips 
They think they are smarter than I am.
- #166,511
- Nov 27, 2009 6:45am Nov 27, 2009 6:45am
- | Joined Oct 2007 | Status: Trader | 1,236 Posts
Putting aside that I see a $$$ resurrection in the charts.
Doesn't a greenback rally just make sense for a holiday week in this uber $$$ bear market?
None the less, I see what I see and I trade accordingly. Served me well back in May, who knows
how it will serve me this time.I just read the charts I tell ya what.
end of this crazy week and I thought I'd wrap up what I've seen. As usual the market threw as many curve balls as possible but eventually went where the charts said it should of gone all along, gotta love forex.
Just as the commodity currencies led the rally up, they are leading the fall down. All that is holding up the euro now is the daily TL and then a significant retracement from the 1.2885 - 1.5143 should occur. I believe it will happen quickly, by the middle of January 2010. As it stands now, I will be shorting rallies for the next 6 weeks or so.
Cheerio
"Timing Is Everything. Really I Swear It Is"
- #166,512
- Nov 27, 2009 7:02am Nov 27, 2009 7:02am
Somehow i feel big move down will happen after NYC open, stocks probably dive deep at start...and drag EUR along. Before it this sucker might run around without destination at 1.4900 +/- 15 pips
- #166,519
- Nov 27, 2009 7:16am Nov 27, 2009 7:16am
- | Joined Oct 2007 | Status: Trader | 1,236 Posts
I agree a very crazy week.
I have just taken a long at 1.4902, after much screen time this morning, due to the rest of the week I am not over confident, but it is the only long entry I have been able to spot!!
My style is to develop a medium to long term bias and then place my trades accordingly.
For example, I think a move up to 1.4975 area is very possible today. At that point I will be looking for any sign to enter a short. I am a position trader obviously. Day trading is just too hard, I am not that smart.
"Timing Is Everything. Really I Swear It Is"
