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  • #176,061
  • Dec 29, 2009 8:46am Dec 29, 2009 8:46am
Quoting fxpipper
10AM US Consumer Confidence report...
Report should be good as Holiday shopping exceed expectations.

Loading Longs on deeps.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #176,062
  • Dec 29, 2009 8:47am Dec 29, 2009 8:47am
Quoting Nomi1
can any one plz explain the sudden fall in gold. could this b in anticipation of us news.
http://www.bloomberg.com/apps/news?p...d=aZ89oIgwDS7I

That's not the only reason though.
  • #176,063
  • Dec 29, 2009 8:53am Dec 29, 2009 8:53am
Quoting Nomi1
can any one plz explain the sudden fall in gold. could this b in anticipation of us news.
sudden drop in gold is easy ... cause it is way over valued and should be $600 per ounce.

EU also came off a nice top 4450

ES moved up in globex to 1128 and dropped on open due to gap in markets .It did the same yesterday
Blogging daily now at www.volume.zone
  • #176,064
  • Dec 29, 2009 8:55am Dec 29, 2009 8:55am
Quoting SkyzerFX
Loading Longs on deeps.
What does that mean? Sorry I'm not too familiar with the lingo yet. Since you think the report will be good, does that mean you expect the EUR/USD to drop, then you'll load up on longs when it reaches its lowest point?
  • #176,065
  • Dec 29, 2009 8:58am Dec 29, 2009 8:58am
Quoting fxpipper
What does that mean? Sorry I'm not too familiar with the lingo yet. Since you think the report will be good, does that mean you expect the EUR/USD to drop, then you'll load up on longs when it reaches its lowest point?

sky is saying he is buying dips....

which today is ok as long as price remains above yesterdays upper value area 1.4405.

If price gets under this value and stays there for 30 min then 80% chance we see 1.4350 by London
Blogging daily now at www.volume.zone
  • #176,066
  • Dec 29, 2009 8:58am Dec 29, 2009 8:58am
Quoting Optimum
Close all short.

Long at 4370
Close all longs 4437
long avg. 4365.

Short (smal lot) 4432
  • #176,067
  • Dec 29, 2009 8:58am Dec 29, 2009 8:58am
Quoting malcolmb14
it is way over valued and should be $600 per ounce.
Overvalued? Hmm ok. So paper money should increase in volume in

geometry progression and commodities which cannot be printed, should

decline in value depspite population growth.

I tell you what's overvalued and bubbled like nothing else and that's

$USD! Anyways Decline in EU is natural during the News times.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #176,068
  • Dec 29, 2009 8:59am Dec 29, 2009 8:59am
lol ... bait taken ... hook line and sinker ....





Quoting SkyzerFX
Overvalued? Hmm ok. So paper money should increase in volume in

geometry progression and commodities which cannot be printed, should

decline in value depspite population growth.

I tell you what's overvalued and bubbled like nothing else and that's

$USD! Anyways Decline in EU is natural during the News times.
Blogging daily now at www.volume.zone
  • #176,069
  • Dec 29, 2009 9:02am Dec 29, 2009 9:02am
as expected...
  • #176,070
  • Dec 29, 2009 9:02am Dec 29, 2009 9:02am
so is further drop in gold expected malcol
  • #176,071
  • Dec 29, 2009 9:03am Dec 29, 2009 9:03am
eyes on area 4418-12

above long
below short

personally ...I prefer a long
The best thing that can happen to you is to find out where you're wrong.
  • #176,072
  • Dec 29, 2009 9:07am Dec 29, 2009 9:07am
Quoting Nomi1
so is further drop in gold expected malcol
http://www.kitco.com/ind/nadler/dec292009.html
  • #176,073
  • Dec 29, 2009 9:08am Dec 29, 2009 9:08am
Quoting malcolmb14
sky is saying he is buying dips....

which today is ok as long as price remains above yesterdays upper value area 1.4405.

If price gets under this value and stays there for 30 min then 80% chance we see 1.4350 by London
Ah I see...thanks for the clarification.

Well that CC report was quite uneventful...
  • #176,074
  • Dec 29, 2009 9:11am Dec 29, 2009 9:11am
eyes also on area 4436-28
The best thing that can happen to you is to find out where you're wrong.
  • #176,075
  • Dec 29, 2009 9:11am Dec 29, 2009 9:11am
Quoting malcolmb14
ok lets get all thing into perspective as now i see 1.55 being called

1) xmas 2 weeks I fully expected a retracement . after a 900 pip drop in 3 weeks we have had a massive 200 pip reatrcement..wow...


Thank you for clearing all that up.

Ok your right, but I'm not really calling for anything. 1.55 is a valid target, but if the EUR makes a turn south---- so is 1.38 Its unfortunate but some people have a hard time telling when price has turned. Its also unfortunate that some are placing so much emphases on end of year retraces in thin markets. I still see the fundamentals pointing to a week dollar.

Now, I could be wrong, but if the EUR turns south I'll sell ---- but if it continues north I'll add to my positions (as well as take profit along the way). I don't trade the 20 pip moves most on this thread seem to thrive on. If I post a valid target area, its not really a trade call. I do see how it could look that way thou, sorry for any confution.
  • #176,076
  • Dec 29, 2009 9:12am Dec 29, 2009 9:12am
Quoting Driver55
eyes also on area 4436-28
With you there.
  • #176,077
  • Dec 29, 2009 9:17am Dec 29, 2009 9:17am
Quoting Nomi1
so is further drop in gold expected malcol

right now gold is in down channel capped by about 1115.

if gold remains under that price then , being in a down trend channel on 4 hour , we move to bottom of channel 1050

being low volume trading sessions since dec 24 , the 4 hour chart has got a little messy in regards of candle patterns last few days , so will wait and see what next week has in store for us. We really onl;y have today and tomorrow left for this week

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  • #176,078
  • Dec 29, 2009 9:22am Dec 29, 2009 9:22am
Placed another long at 1.441. Thats 2 long lots, aiming tp for 1.5 and 1.6.
  • #176,079
  • Dec 29, 2009 9:23am Dec 29, 2009 9:23am
thanks mal,

i am using fx solutions charts and it does not give me 4H CHARt all it gives me is minuts 1 hour daily and beyond. how do u guys look at 4h chart.
  • #176,080
  • Dec 29, 2009 9:24am Dec 29, 2009 9:24am
sorry about that .... just could not see why 1.55 was called , and if long term trader i do not see why you would not consider this monthly reversal candle invalid.

question is ... is the usd fundies going to drive this move .... or the issues in euro zone going to drive the move. The usd could remain static, but if eu falls apart that could be the driver of the move to to that 6/8 mml at 1.3670 ( that is my target for end feb) unless we have a close above 1.4650 (7/8 mml)

those that do not know mml once we get a strong buy or sell set up on any time frame the minimum moves is typically 2 octaves. (2 murray math lines) in this case I am going for 1.5 octaves only to 1.3670

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Quoting knuckledrag
Thank you for clearing all that up.

Ok your right, but I'm not really calling for anything. 1.55 is a valid target, but if the EUR makes a turn south---- so is 1.38 Its unfortunate but some people have a hard time telling when price has turned. Its also unfortunate that some are placing so much emphases on end of year retraces in thin markets. I still see the fundamentals pointing to a week dollar.

Now, I could be wrong, but if the EUR turns south I'll sell ---- but if it continues north I'll add to my positions (as well as take profit...
Blogging daily now at www.volume.zone
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