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  • #223,661
  • Apr 11, 2010 7:11pm Apr 11, 2010 7:11pm
fundamental sea change for the euro; germany couldn't afford to let greece and thus belgium, spain, portugal, etc go down - and the non-member states are in worse trouble. the eu gdp is about the same as the usa gdp. bad news for everyone if the region fell apart.

but those quarreling, head-in-the-sand, 16 members finally made a coordinated decision to save themselves, so the euro lives. i'd not be shorting anywhere for some time yet. tomorrow the big money will get in. you can bet the ecb is long euro.

this is all good news for the global economy, including the us dollar. i'd not be surprised to see the dow penetrate 11000 this week - but prepare for a correction off 11200, which is a 62 fib and a long-term resistance area.
realize the universe is one thing, and attach it to your body
  • #223,662
  • Apr 11, 2010 7:12pm Apr 11, 2010 7:12pm
Quoting acumen
How long have you been dating?

With some more life experience it's inevitable.

Mike
Virgins
  • #223,663
  • Apr 11, 2010 7:13pm Apr 11, 2010 7:13pm
Wow, you guys have no qualm using pretty harsh words on each other.
Great Bodies are Engineered not Born
  • #223,664
  • Apr 11, 2010 7:13pm Apr 11, 2010 7:13pm
Here's what I thought about this little move.

m
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  • #223,665
  • Apr 11, 2010 7:14pm Apr 11, 2010 7:14pm
Quoting lumesh
I do understand why tony commented the way he did. Hell, some moment ago i wanted to say similar things but my reasons were (are) different.

The fact is that you are a good (great) trader when it comes to SHORT TERM momentum / prevailing trend trading. Your strategy and entries are logical and you have constructed a well mind set to keep that up. However, what bothers me is that you seem to desperately want to be right about the exact time and the place and you just throw numbers and times all over the place...and that's where you have been wrong...
Time will tell, and I have plenty of it ,and the balance to maintain. Sure drawdowns are ugly, and I can't stand them, but hey I guess that's the nature of the game. Guess that's why I went with FXCM UK so that i can scalp hedge these drawdowns.
All that is left in FF is just plain garbage. "Cloggie"
  • #223,666
  • Apr 11, 2010 7:14pm Apr 11, 2010 7:14pm
Quoting RichLadyFX
Wow, you guys have no qualm using pretty harsh words on each other.
welcome to the saloon.
  • #223,667
  • Apr 11, 2010 7:14pm Apr 11, 2010 7:14pm
Quoting TripeiroFX
Hello Guys... Yes it's true that many resistances and trendlines are broken, but do you really believe that problems in EURO ZOne are resolved?? And The GAp will not be close?!? anything strange here, no??
As a chartist, I came to 2 conclusion. These conclusions do not factor in news that I hear on the basis that PA has taken into consideration all the news factor. This is one of the basic believes of techies. You are free do disagree.

These 2 conclusions are:
1)The price moved up because everone is profit taking. In this case, every short wanted to get out. (If longs are profit taking, the price will go down. In this case it didn't so it means that shorts are profit taking)
2)Due to some unknown reason, everyone wants to buy EU. This caused a very large spike up in price.

Next,
Those who were short before the gap is now incurring a loss. A 200 pip loss overnight is no small matter considering that at most EU moves about 100 pips a day (on average). These people will look to get out at the next possible dip.

And finally,
it could have been a combination of the 3 above that caused a 200 pip gap. Either way, everyone is going to look to buy in at the next dip. PA is indicating a buying interest. No doubt, the daily charts and longer will be favouring a buy in the next few weeks.

In terms of short term, it is common for a retrace to fill in the gap so if you like to be contrarian, go ahead and take that short if you believe strongly that it will go down.
  • #223,668
  • Apr 11, 2010 7:15pm Apr 11, 2010 7:15pm
Quoting buddhi
fundamental sea change for the euro; germany couldn't afford to let greece and thus belgium, spain, portugal, etc go down - and the non-member states are in worse trouble. the eu gdp is about the same as the usa gdp....
wow... didn't know Germany had that much money.

lol.

Let's see how things roll.

m
  • #223,669
  • Apr 11, 2010 7:16pm Apr 11, 2010 7:16pm
Quoting jsspmk
Maybe we aren't looking at it from the right angle, we keep looking at EUR charts, but if you look at monthly USD chart, then 80.80 sticks out quite a bit, it's been:

support in 1995
support in 2004
resistance in 2007
support in 2009
resistance in 2009

Last week it closed 80.8

Food for thought
those who can, do. those who cant, talk about those who can
  • #223,670
  • Apr 11, 2010 7:16pm Apr 11, 2010 7:16pm
Quoting acumen
Anyway.

It's a short video.

Yes... I shorted this.

Yes... the gap will close.

No... Greece is not saved.

http://www.youtube.com/watch?v=3DUbq3R89WU

Got a chance this weekend to look at some of your vids, some nice stuff there.
All that is left in FF is just plain garbage. "Cloggie"
  • #223,671
  • Apr 11, 2010 7:18pm Apr 11, 2010 7:18pm
Quoting malcolmb14
ok lets look at something

you are selling into a 400 pip up move with little retrace just because.

We hit 1.3670 for 2nd time in asia this time no sellers have arrived.

I would suggest a lesser stop loss .... tough to give 5% of your account away for nothing.

If anything buy dips .. the daily has changed , we dipped under support only to have buyers take her back up thru 1.3500 . 1,3600 is major support and as mentioned i added longs on dip 1.3610...
he's about to be in the money.

m
  • #223,672
  • Apr 11, 2010 7:19pm Apr 11, 2010 7:19pm
Quoting tonyo524
Got a chance this weekend to look at some of your vids, some nice stuff there.
appreciate the feedback and kind words.

m
  • #223,673
  • Apr 11, 2010 7:20pm Apr 11, 2010 7:20pm
Quoting RichLadyFX
Wow, you guys have no qualm using pretty harsh words on each other.
who, these guys?

Too much time trying to catch the tops and bottoms will make you a nervous wreck.
  • #223,674
  • Apr 11, 2010 7:21pm Apr 11, 2010 7:21pm
Quoting acumen
he's about to be in the money.

m
about to be? SL: moved to $1.36479. Guess I am not giving away 5% of my account after all.
  • #223,675
  • Apr 11, 2010 7:22pm Apr 11, 2010 7:22pm
Stop to 5 pips .. Hoping yet again for a big move down.



It seems the Japanese are selling Euros..
  • #223,676
  • Apr 11, 2010 7:22pm Apr 11, 2010 7:22pm
Quoting Duce
1 lot
1.36349.

Have a nice Sunday.
Si vis pacem, para bellum.
  • #223,677
  • Apr 11, 2010 7:24pm Apr 11, 2010 7:24pm
bounce up we go
  • #223,678
  • Apr 11, 2010 7:24pm Apr 11, 2010 7:24pm
Quoting TheLastCoke
Let me tell you a story in chronological order:

#452 #453 #467 #473 #475 #477...
I like the story.
  • #223,679
  • Apr 11, 2010 7:25pm Apr 11, 2010 7:25pm
why did eurusd open around 1.3630 on sunday, i don't see any news for this.
  • #223,680
  • Apr 11, 2010 7:26pm Apr 11, 2010 7:26pm
Lets see if this works, this is the only trade I took out of that due to spread being so high earlier...GU trade

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EDIT: nice, it worked. that snagit thing is sweet Mike
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