Euro climbing; cable dead
Dax climbing nicely
Cable Update (GBPUSD)
- #222,082
- Apr 28, 2010 6:41am Apr 28, 2010 6:41am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
euro climbing on all fronts; cable still dead!
Dax climbing nicely
Is the Euro breaking daily highs? NOT. This is just the beginning of the Euro hitting its open prices of .90 and a sovern debt crisis beginning. The Greeks have been spoiled and still cant realise the screwup they made. Hence the strikes only further crippling any chance of a recovery mode. The one most important thing I have learned over the years is you cant help those that dont want it and the Greeks fit the mold of being in denial. The Euro is doomed if people will not admit they screwed up and change. I dont see this happening and Europe will pay the toll.
Just my 2 cents
Im short at 1.3213 daily high She probably wont be supported much more than that
- #222,089
- Apr 28, 2010 6:57am Apr 28, 2010 6:57am
- | Joined Dec 2006 | Status: o_O | 1,511 Posts
wow FTSE retraced all loss today and now vvery slightly in the green.....viva britannia 
)
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- #222,091
- Apr 28, 2010 7:02am Apr 28, 2010 7:02am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
Oh I really wish i could sell Greece!
But you can, once 2 rating agencies downgrade Greece's debt the ECB can no longer use it as collateral and will then need to rebalance the books taking Greek paper off, that will see the euro go down further. There must be a lot of scrambling behind the scenes today trying to prevent further downgrading. Merkel and Sarkozy may be forced to step in purely to secure the euro. The current spreads are unsustainable, Greece is in effect borrowing on retail credit card rates 2 yr is over 15%
- #222,093
- Apr 28, 2010 7:07am Apr 28, 2010 7:07am
- | Joined Dec 2006 | Status: o_O | 1,511 Posts
Well that was a scary ride, ended up with 18% of my margin in play at one stage. How I managed to keep my nerve and end up with $80 profit over yesterday I will never know. Definately gonna keep on the short side of EG and GU for now.
Any sufferers from yesterday's fallout?
naah mate everyone made money
hence number of viewers on this thread now well done holding your nerve, but just one word of advice (i know you know it already
) dont overleverage and if it goes against you get out.but i think the worst mistake everyone make is overleveraging (trying to become gazzilionaires in 1 week), been there myself
One of the reasons I love NENE's style of trading (by the way where did he dissapear to) is that he has direction in mind and he scales in but he does it in the way that his account is not blown up after 200pip move...
naah mate everyone made money
well done holding your nerve, but just one word of advice (i know you know it already
but i think the worst mistake everyone make is overleveraging (trying to become gazzilionaires in 1 week), been there myself
One of the reasons I love NENE's style of trading (by the way where did he dissapear to) is that he has direction in mind and he scales in but he does it in the way that his account is not blown...
What made it worse was that I had an adverse position going on with GJ at the same time so I was trying to juggle two balls from hell whilst not trying not to throw the towel in and start again from scratch.
Glad I didn't though as it was a great learning curve and adrenalin rush
Won't be doing that in a hurry
- #222,100
- Apr 28, 2010 7:17am Apr 28, 2010 7:17am
- | Joined Dec 2006 | Status: o_O | 1,511 Posts
hah suddenly everything is alive, funt to watch 5sec chart
1.5220 produces alot of volume i guess just by looking at how price is jumping EURO upping again...interesting it finds buyers everytie it falls lower (dare i repeat accumulation ? )
1.5220 produces alot of volume i guess just by looking at how price is jumping EURO upping again...interesting it finds buyers everytie it falls lower (dare i repeat accumulation ? )