QQQQQQQQQ in da house
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #214,541
- Feb 5, 2010 8:52am Feb 5, 2010 8:52am
- Joined Aug 2007 | Status: Trader | 2,616 Posts
QQQQQQQQQ in da house
- #214,542
- Feb 5, 2010 8:53am Feb 5, 2010 8:53am
- Joined Apr 2009 | Status: Know Your Wave | 2,640 Posts
so much for NFP. Longs be careful.
- #214,544
- Feb 5, 2010 8:56am Feb 5, 2010 8:56am
- Joined Dec 2008 | Status: Trader | 2,753 Posts
Every man and his dog are thinking short. There are short orders being filled on every test of support. The longer it hangs around here, the more traders will 'position' themselves for the next leg down to their favourite fib level. 139, 137, 135, 128 etc.
Ask yourselves; what would you do if you could see all these sell orders and worked for someone who had enough financial clout to influence the market?
I'm not saying we're long from here, but I've seen this PA before and it usually means one thing.
Ask yourselves; what would you do if you could see all these sell orders and worked for someone who had enough financial clout to influence the market?
I'm not saying we're long from here, but I've seen this PA before and it usually means one thing.
- #214,545
- Feb 5, 2010 9:06am Feb 5, 2010 9:06am
- Joined Jan 2009 | Status: bye FF | 8,806 Posts
MY OPINION NOT FINANCIAL ADVISE
- #214,547
- Feb 5, 2010 9:13am Feb 5, 2010 9:13am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
- #214,548
- Feb 5, 2010 9:20am Feb 5, 2010 9:20am
- Joined Sep 2007 | Status: Trader | 6,871 Posts
check out my blog: forexmademillionaire dot com
- #214,549
- Feb 5, 2010 9:41am Feb 5, 2010 9:41am
- Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts
Every man and his dog are thinking short. There are short orders being filled on every test of support. The longer it hangs around here, the more traders will 'position' themselves for the next leg down to their favourite fib level. 139, 137, 135, 128 etc.
Ask yourselves; what would you do if you could see all these sell orders and worked for someone who had enough financial clout to influence the market?
I'm not saying we're long from here, but I've seen this PA before and it usually means one thing.
A very valid view; I'd read it here before, and I like to repeat it at times like this - FX is not a charity and the cybermonkeys are there to screw you out of your money.This strategy of dipping down enough to pick up sells, and then reverse back up - sweeping out stops - is frequently employed in times like this. They'd done it during London's session (yest) on a number of occasions, and there are other examples I have seen where an institutional trader (err, cybermonkey) will sit there looking at stops & positions and 'go sweeping.'
I see we've broken the low already to stop @ 139 & having a 70+ pip bounce up - did many expect that? No. My VSA is undeveloped, but it could look like buying volume, then again we know there are tons of shorts at various points below 139.3. I think a lot of today's PA will be NYSE sentiment based. Also, keep an eye on UJ: it's still 50 pips above it's low of yesterday, and to me looks like it's still retracing upwards - it's a supposed flight to quality here, but those relationships aren't cast in stone.
... With all the problems with the euro nations, there's no telling how much GJ will sink. Just like back in 2007, GJ could just keep on dropping.
- #214,550
- Feb 5, 2010 9:43am Feb 5, 2010 9:43am
- | Commercial User | Joined Mar 2009 | 2,480 Posts
That's fine but watch the daily close bro. . . That will be key to the upside or the down side IMO. If we see a close below the resistance level I posted then we will surely see more downside
OK bro, still frantic trading here, taking the rides up and down but still holding onto the main Longs. Will post when LDN wraps up.
- #214,551
- Feb 5, 2010 9:53am Feb 5, 2010 9:53am
- Joined Jan 2007 | Status: Trader | 3,719 Posts
Nihil Sine Deo.
- #214,555
- Feb 5, 2010 10:31am Feb 5, 2010 10:31am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
- #214,558
- Feb 5, 2010 10:43am Feb 5, 2010 10:43am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Fundies commentary:
The USD dollar index is up against the 100-week and 200-week moving averages...The 100-week is at 80.255 and the 200-week is at 80.54 with the DXY at 80.25/30 area. Strength above can see another 100 points or so higher to the bottom of the weekly cloud at 81.46, which equates to another roughly 200 points lower in EUR/USD.
ECB's Stark says additional EU funds, even with conditions, not needed...He is referring to the potential for an EU bailout/backstop for Greece et al. Probably EUR-negative as it means a resolution is not forthcoming.
Kaboom for the GU,GJ,EU..
Get ready at 12pm london close..
The USD dollar index is up against the 100-week and 200-week moving averages...The 100-week is at 80.255 and the 200-week is at 80.54 with the DXY at 80.25/30 area. Strength above can see another 100 points or so higher to the bottom of the weekly cloud at 81.46, which equates to another roughly 200 points lower in EUR/USD.
ECB's Stark says additional EU funds, even with conditions, not needed...He is referring to the potential for an EU bailout/backstop for Greece et al. Probably EUR-negative as it means a resolution is not forthcoming.
Kaboom for the GU,GJ,EU..
Get ready at 12pm london close..
[
- #214,559
- Feb 5, 2010 10:51am Feb 5, 2010 10:51am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
- #214,560
- Feb 5, 2010 10:54am Feb 5, 2010 10:54am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
KABOOM DOOM BOOM!!!
to the longs
to the longsrgitt what your predict for next week on GJ?
[