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Technical Analysis Fallacy

  • #12,461
  • Jan 7, 2010 10:08am Jan 7, 2010 10:08am
L1 out 28, scout still in............
  • #12,462
  • Jan 7, 2010 10:10am Jan 7, 2010 10:10am
Quoting auxesis
L1 out 28, scout still in............
got some pips? difficult day , huh
they playing every trick in the book.
  • #12,463
  • Jan 7, 2010 10:10am Jan 7, 2010 10:10am
By Jamie Coleman || January 7, 2010 at 15:03 GMT
|| 0 comments || Add comment
Traders report high-profile US investment bank (noted for its bullish stance toward USD/JPY) sold a yard of dollars beginning close to the 93.40 highs. The ripple effects took USD/JPY as low as 93.00 before a bounce. We trade now at 93.20 with focus still on a major area of resistance between 93.40 and 93.50.



pump&dump?
  • #12,464
  • Jan 7, 2010 10:15am Jan 7, 2010 10:15am
Quoting fti
got some pips? difficult day , huh
they playing every trick in the book.
Some days the fishing is bad.
  • #12,465
  • Jan 7, 2010 10:16am Jan 7, 2010 10:16am
Just read a news:

January 7th. According to global custodians" flow reports, real money faded yesterday"s Euro rally in size, no seriously, SIZE. Whilst inter-bank players were scrambling to pull back their shorts after the sovereign dip buyers had left them high and dry, real money accounts provided liquidity all the way up, into and including Asian and European sessions. So whilst the spec boys were driving EUR/USD to overnight 1.4446 highs, real money did an Elvis "Thank you, thank you very much..."
Tell tale was the way that EUR/JPY dropped from 133.37 Asian peak to 132.37 early European lows, counter-intuitive to the fundamental news that the new finance minister would like to see a weaker Yen. The fact that European and London traders drove the pair back up to 133.60 attests to the fact that Asian session flows were flow driven, and apparently mainly EUR/USD as USD/JPY was bid through, only slipped 0.4% whilst EUR/USD dropped almost 0.65%. More [email protected]
  • #12,466
  • Jan 7, 2010 10:19am Jan 7, 2010 10:19am
Quoting imjscn
Just read a news:

January 7th. According to global custodians" flow reports, real money faded yesterday"s Euro rally in size, no seriously, SIZE. Whilst inter-bank players were scrambling to pull back their shorts after the sovereign dip buyers had left them high and dry, real money accounts provided liquidity all the way up, into and including Asian and European sessions. So whilst the spec boys were driving EUR/USD to overnight 1.4446 highs, real money did an Elvis "Thank you, thank you very much..."
Tell tale was the way that EUR/JPY...
thank you,imjscn
so now I can go to rest.


Giants at work, ants wait for the spoils. Unless you have flea like capabilities, best wait for Giants battle to dust down.



regards
  • #12,467
  • Edited 10:37am Jan 7, 2010 10:26am | Edited 10:37am
War going on at 4310

squared4316

taking a break
  • #12,468
  • Jan 7, 2010 11:00am Jan 7, 2010 11:00am
Taking part in the North American conflict - short scout in USDCAD. Let's see if the range is useful for anything.
  • #12,469
  • Edited 11:20am Jan 7, 2010 11:07am | Edited 11:20am
i saw the weirdest thing on the hourly EU chart...
maybe i am not looking right??

is this a batle between tokyo/singapore and the city/europe

cet.02.00 04-01(asia) up reversal
08.00 05-01(europe) down reveral
07.00 06-01 (europe) up
02.00 07-01 (asia) down

now don't get predictive and think at 02.00 cet. trend moves up again.
if it does i get alittle worried
even with my eyes open i cannot see everything
  • #12,470
  • Jan 7, 2010 11:22am Jan 7, 2010 11:22am
Quoting j-pax
i saw the weirdest thing on the hourly EU chart...
maybe i am not looking right??

is this a batle between tokyo/singapore and the city/europe

cet.02.00 04-01(asia) up reversal
08.00 05-01(europe) down reveral
02.00 06-01 (europe) up
08.00 07-01 (asia) down

now don't get predictive and think at 02.00 cet. trend moves up again.
if it does i get alittle worried
yeah both ministers think there currencys are overvalued (E,Y)
  • #12,471
  • Jan 7, 2010 11:32am Jan 7, 2010 11:32am
Quoting M-H Trader
yeah both ministers think there currencys are overvalued (E,Y)
yes that would make sense for the asian euro upmove and the european euro down move. but this works both ways.... i don't know what to think.
even with my eyes open i cannot see everything
  • #12,472
  • Jan 7, 2010 11:38am Jan 7, 2010 11:38am
Quoting j-pax
yes that would make sense for the asian euro upmove and the european euro down move. but this works both ways.... i don't know what to think.
Yeah i know what you mean. There is a lot of "big players" in markets beware of traps.
  • #12,473
  • Jan 7, 2010 11:44am Jan 7, 2010 11:44am
Quoting M-H Trader
Yeah i know what you mean. There is a lot of "big players" in markets beware of traps.
i will thanks and you to.
even with my eyes open i cannot see everything
  • #12,474
  • Jan 7, 2010 11:54am Jan 7, 2010 11:54am
Very boring now, so it's time to take a break. It's snowing here and there are 6 inches of global warming on my drive way that need to be cleared. Back later. Good trading everyone, and be careful.
  • #12,475
  • Jan 7, 2010 12:12pm Jan 7, 2010 12:12pm
Quoting GEfx
Very boring now, so it's time to take a break. It's snowing here and there are 6 inches of global warming on my drive way that need to be cleared. Back later. Good trading everyone, and be careful.
What horrible price action today, guess I'm gonna have to start getting up for the London. We had ice last night, currently 10 degrees f, with 40+mph winds = subzero wind chills.

brurrrrrr
  • #12,476
  • Jan 7, 2010 12:16pm Jan 7, 2010 12:16pm
Quoting auxesis
What horrible price action today, guess I'm gonna have to start getting up for the London. We had ice last night, currently 10 degrees f, with 40+mph winds = subzero wind chills.

brurrrrrr
jeez its perfect weather here in AZ
  • #12,477
  • Jan 7, 2010 1:55pm Jan 7, 2010 1:55pm
Quoting auxesis
What horrible price action today, guess I'm gonna have to start getting up for the London. We had ice last night, currently 10 degrees f, with 40+mph winds = subzero wind chills.

brurrrrrr
Yep, 20 degrees F here with 5 inches on the ground, and another 5-7 on the way. Then, it gets windy and cold tonight and tomorrow. At least M-H Trader is warm today in AZ.
  • #12,478
  • Jan 7, 2010 3:25pm Jan 7, 2010 3:25pm
Chaps,
is it just me or the YEN has been raging up since the new Finance minister came to power? The volatility is good even now, when all other pairs are dead ...
  • #12,479
  • Jan 7, 2010 3:58pm Jan 7, 2010 3:58pm
Quoting Setebos
Chaps,
is it just me or the YEN has been raging up since the new Finance minister came to power? The volatility is good even now, when all other pairs are dead ...
They came out initially saying they would not intervene, that lasted about 2 days as the Yen soared, then came the respeech , what we meant to say was.... and it's been all $ ever since
  • #12,480
  • Jan 7, 2010 4:24pm Jan 7, 2010 4:24pm
70 pip movement on UJ after NYSE close in 20 min ... without tokyo open...
when did i saw that last time....???


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