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  • #234,461
  • May 2, 2010 5:11pm May 2, 2010 5:11pm
Quoting TraderMark
If anyone can say why the EUR/USD will rise on the bailout news, I would love to hear it (other than on short covering, which may have already have been done over the last couple weeks. I would love to go long and ride into the 40's+, but my gut feeling with all the others (PII(G)S) in substantially similar circumstances, is the EUR/USD pair goes lower.
I am confused on this piigs story... Some countries are more piigs that others...

List of countries by external debt/External debt (% of GDP):

Luxemburg: 4973.68%
Iceland: 998.64%
Ireland: 960.86%
Switzerland: 441.95%
United Kingdom: 365.44%
Belgium: 348.74%
Denmark: 242.30%
Austria: 233.70%
France: 227.35%
Hong Kong: 200.48%
Norway: 190.23%
Portugal: 188.63%
Germany: 185.2%
Sweden: 176.72%
Greece: 153%
Spain: 150%

http://en.wikipedia.org/wiki/List_of..._external_debt
  • #234,462
  • May 2, 2010 5:13pm May 2, 2010 5:13pm
Quoting malcolmb14
for real ....

set stop to be

look at your 4 hour

Greece just got a 120 bill bail out and you are selling euro even though 4 hour chart is up ?

I am buying dips
4 hr chart is a bear wedge. (Bull losing power).. but as said im staying out cause bailout may come any time. after bliss im sure we fall.
those who can, do. those who cant, talk about those who can
  • #234,463
  • May 2, 2010 5:15pm May 2, 2010 5:15pm
Highest has been 3360 until now

Lowest has been 3299 until now


Possibly reload on dips - as long as 1.3292 - 1.3283 / 69 may hold.

Reversal and change of trend later - as first up then down.

Pullbacks down towards 1.3257 - 1.3247 and even below that 1.3196 - 1.3175 possible later then. But not here and now. As market still prefer upside and stops hunting there. Erst ein bischen Jagd machen - dann Kopfschmerzen und Bedenken. But only as long as 3415 may cap. Seems to be likely from now prospective.



Mal schaun


jo jo
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #234,464
  • May 2, 2010 5:15pm May 2, 2010 5:15pm
Quoting malcolmb14
for real ....

set stop to be

look at your 4 hour

Greece just got a 120 bill bail out and you are selling euro even though 4 hour chart is up ?

I am buying dips
Hi all,
There are also other matters to consider; how is the loan going to affect the countries who can least afford it? Also dont forget that the DJ just lost close to 200 points on Friday, the reprecussions are still to hit AU and Europe market today. I think apart from the EU news we should also look at the Dollar index which I think is on its way up.
Find a job that you love and you dont have to work again in your life.
  • #234,465
  • May 2, 2010 5:16pm May 2, 2010 5:16pm
Quoting malcolmb14
for real ....

set stop to be

look at your 4 hour

Greece just got a 120 bill bail out and you are selling euro even though 4 hour chart is up ?

I am buying dips
Ok, stop set @ Entry+1. About the bailout, all the details out already?
Great Bodies are Engineered not Born
  • #234,466
  • May 2, 2010 5:18pm May 2, 2010 5:18pm
Quoting gatorinla
4 hr chart is a bear wedge. losing power.. but as said im staying out cause bailout may come any time. after bliss im sure we fall.
so check this out...

that daily volume on a bear trap just under support

WAS THE HIGHEST VOLUME IN 4 YEARS ...all buyers

I am expecting 500 pip move off that daily chart even if only a knee jerk reaction to news

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  • #234,467
  • May 2, 2010 5:22pm May 2, 2010 5:22pm
daily and hidden bull div ? 1st chart = spot

2nd chart clear bull div =- futures

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  • #234,468
  • May 2, 2010 5:24pm May 2, 2010 5:24pm
Quoting malcolmb14
so check this out...

that daily volume on a bear trap just under support

WAS THE HIGHEST VOLUME IN 4 YEARS ...all buyers

I am expecting 500 pip move off that daily chart

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Attachment
i see that. but that volume may have been shorts exiting. for many reasons. like end of month. japan holiday. and just not wanting to hold over weekend with pending bailout news. that was the reason i exited. im not saying your wrong. im throwing in another view. when in doubt im out.
those who can, do. those who cant, talk about those who can
  • #234,469
  • May 2, 2010 5:26pm May 2, 2010 5:26pm
here is daily

completed 5 waves down and has formed a bull div on ew oscillator


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  • #234,470
  • May 2, 2010 5:28pm May 2, 2010 5:28pm
Quoting malcolmb14
so check this out...

that daily volume on a bear trap just under support

WAS THE HIGHEST VOLUME IN 4 YEARS ...all buyers

I am expecting 500 pip move off that daily chart even if only a knee jerk reaction to news
I don't know much about volume, and I wouldn't like to hazard a guess at how far north ths might go, but for once I do agree with you about buying the dips......I doubt that a good entry will present itself anytime soon though, due to Japan and UK bank holidays......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #234,471
  • May 2, 2010 5:32pm May 2, 2010 5:32pm
I respect malcolm's ability to trade his charts and not the news. But this news scares me. I exited my EU shorts on Friday. I didn't bag a tonne of pips but better some than negative. I'm out too, even though I don't think the EZ/Greece news is positive at all. Let's watch.
Si vis pacem, para bellum.
  • #234,472
  • May 2, 2010 5:33pm May 2, 2010 5:33pm
for those that follow my posts they should know I am a day trader .. well short term session trade . I try and look no furhter then the next 24 hours

here is what I am looking for tonight in asia and thru into euro session .

London is closed but i think euro markets are still open

Daily range eu roight now is 114 pips. so looking for down move in Asia to 1.3300 / 13280 , then looking for signs of buyers on a 15 min chart to take her up into that r level of 1.3400

I will be back at Frankie to see if this trade forms and have buy orders set 1.3320 , 1.3300 and 1,3280


a move up in Asia would be bad for this plan as rarely does a pair continue in London in the same direction as the 1st 4 hours of asia

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  • #234,473
  • May 2, 2010 5:35pm May 2, 2010 5:35pm
since we have another high..3360
w/o new high

bear target

1 3220
2 3216
3 3313

bull targets from last week still valid.

i dont like guestimations on manipulated charts. i dont like pa. so im staying out.. unless we touch wedge upper tl again. gu may be the better of the 2..
good luck
those who can, do. those who cant, talk about those who can
  • #234,474
  • May 2, 2010 5:38pm May 2, 2010 5:38pm
Quoting gatorinla
i see that. but that volume may have been shorts exiting. for many reasons. like end of month. japan holiday. and just not wanting to hold over weekend with pending bailout news. that was the reason i exited. im not saying your wrong. im throwing in another view. when in doubt im out.

cool .... always great to see another point of view. ..

and this news sure is going to make things volatile

I find it odd how ' wow GS downgraded by their buddies s&p' dropped market 20 points but poor jobless growth cannot.

maybe there is weakness in the US markets at last or maybe this is just another attempt by GS to load es at 1183 and the ' good news ' out of eurozone propels dax higher taking global markets with it.

I think as realjumper said the real market reaction to this news will be shown tomorrow in US session
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  • #234,475
  • May 2, 2010 5:39pm May 2, 2010 5:39pm
Quoting malcolmb14
I will be back at Frankie to see if this trade forms and have buy orders set 1.3320 , 1.3300 and 1,3280
Thanks Malcolm....I was/am eyeballing 3290 because it's the DP....have to wait and see what happens when/if it gets there
Doing what you like is Freedom. Liking what you do is Happiness.
  • #234,476
  • May 2, 2010 5:41pm May 2, 2010 5:41pm
i had company and missed the entry but i do wish i had got in on the 4hr tl.. oh well.. maybe next time..
those who can, do. those who cant, talk about those who can
  • #234,477
  • May 2, 2010 5:42pm May 2, 2010 5:42pm
Thanks Malc for that analysis. I'll be looking for the same actually tonight, daily pp for me is 3287 and that would close the gap on my two mt4 platforms...with the bailout who knows but if I see pp get hit, I'll be taking a trade. more than likely long but like you, I will exit the trade sometime before london closes. 3400 should get taken out, daily R2 and based on atr if it's an up day. i guess i'm buying dips(or a dip to the dpp) today too
  • #234,478
  • May 2, 2010 5:47pm May 2, 2010 5:47pm
Question: US bailout news has always hammered the greenback. Why shouldn't this EZ bailout news (the first of possibly many more to come) not hammer the EURO?
Si vis pacem, para bellum.
  • #234,479
  • May 2, 2010 5:51pm May 2, 2010 5:51pm
I throught more sucessfull traders are focusing on the tech analysis side more, they dont even look at news most of time.
  • #234,480
  • May 2, 2010 5:56pm May 2, 2010 5:56pm
Quoting edisoname
I throught more sucessfull traders are focusing on the tech analysis side more, they dont even look at news most of time.
Have you seen any "News" lately that you could believe?
Ah Luv the smell of a good prediction in the mornin!
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