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  • #236,681
  • May 5, 2010 10:20am May 5, 2010 10:20am
Quoting Cotton-I-Jo
884 may hold

:nerd:
It will if DJ didn't turn positive. Price seem lockstep with equity today.
  • #236,682
  • May 5, 2010 10:20am May 5, 2010 10:20am
Well... bending a posting rule of mine here (again) but POTENTIALLY a complex HnS forming on the 1m chart.

no time here to post a chart, but could signal a retracement top. this is part of the way i trade and this could be EASILY invalidated (above 73/75ish) , but i'm in very small at 2865 with great R/R and will scale in if confirmed ((needs to break and clear the xx50ish area)) otherwise a very few pips lost and harm done.

if it runs, then all is well...

ADD: ranging between those levels for very much longer would also invalidate this formation... then it's just mini consolidation on small TF's, aka Noise.
FUBAR...
  • #236,683
  • May 5, 2010 10:22am May 5, 2010 10:22am
Bit of a bear/bull fight going on - levels 1.2850 and 1.2800 are holding well from the #eur dropping to the 1.27 region. $eurusd
  • #236,684
  • May 5, 2010 10:23am May 5, 2010 10:23am
short covering to lock in profits before Trichet speaks, don't be greedy shorts, the bulls are making a stance, take profits and wait for better short
  • #236,685
  • May 5, 2010 10:23am May 5, 2010 10:23am
Quoting ak4x
Well... bending a posting rule of mine here (again) but POTENTIALLY a complex HnS forming on the 1m chart.

no time here to post a chart, but could signal a retracement top. this is part of the way i trade and this could be EASILY invalidated, but i'm in very small at 2865 with great R/R and will scale in if confirmed. otherwise a very few pips lost and harm done.

if it runs, then all is well...
exactly the same as me, im in short at 67. SL above the head at 880.

further pending shorts at 78 & 90
  • #236,686
  • May 5, 2010 10:25am May 5, 2010 10:25am
Quoting Protogenos
For all the US haters, here are some things to keep in mind:

1) US GDP is higher than the next four countries combined
2) US is largest producer of energy in the world
3) US exports more agricultural products than any country in the world
4) US has more manufacturing output than the next two countries combined
5) US provides more services than next seven countries combined
6) US is still considered underpopulated
7) US has 4% of world's population but is responsible for 26% of its economic output
8) US debt-to-GDP ratio was 20% higher right...
I agree on that.

You're not in a brilliant situation, it could be better. But still, it's far far better than anyone else.

To put it simple: dollar is dollar
big numbers are our friends...
  • #236,687
  • May 5, 2010 10:26am May 5, 2010 10:26am
Quoting wwwin
short covering to lock in profits before Trichet speaks, don't be greedy shorts, the bulls are making a stance, take profits and wait for better short
I closed my short out a while back, banked the profits. Was sort of expecting this PA tug-a-war. I think once price surpasses the 1.27 region it could very well keep going. Bull intervene to slow down the progression of the $

Now, I sit back wait for a valid entry SHORT ... because we all know this short play will continue.
  • #236,688
  • May 5, 2010 10:27am May 5, 2010 10:27am
Fitch cuts Goldman Sachs credit outlook from stable to negative
  • #236,689
  • May 5, 2010 10:28am May 5, 2010 10:28am
sky news reporting imf head risk of greek crisis spreading
  • #236,690
  • May 5, 2010 10:33am May 5, 2010 10:33am
Quoting Forexfsa
sky news reporting imf head risk of greek crisis spreading

http://news.sky.com/skynews/Home/Bus...15625791?f=rss
  • #236,691
  • May 5, 2010 10:33am May 5, 2010 10:33am
Quoting Protogenos
For all the US haters, here are some things to keep in mind:

1) US GDP is higher than the next four countries combined
2) US is largest producer of energy in the world
3) US exports more agricultural products than any country in the world
4) US has more manufacturing output than the next two countries combined
5) US provides more services than next seven countries combined
6) US is still considered underpopulated
7) US has 4% of world's population but is responsible for 26% of its economic output
8) US debt-to-GDP ratio was 20% higher right after...
None of that means our books are square and in order. Anything that happens to a small country can happen to a big country on proportional scale. The only thing those statics imply to me is that the crisis could be worse in the U.S..

Of course, I think that has no bearing on the EUR/USD right now..
  • #236,692
  • May 5, 2010 10:34am May 5, 2010 10:34am
the downward TL from today's action could push this for a re test shortly. im short as i said still with a small lot
  • #236,693
  • Edited 10:59am May 5, 2010 10:34am | Edited 10:59am
The reason I said "bending a rule is that I don't like to encourage newer traders to fixate in small tf's in this kind of action. they get eaten before their time.

yet in high volatility, these patterns can be that "first whiff" of changing PA in the making for that cluster of TF's, in this case the 1m thru 15m. this move if it develops is pro trend on any significant TF worth mentioning, it comes later on the retracement meaning the countertrend retracement has matured somewhat and so on.

the caveats tho are pending verbalvention (trichet speech) in which case this is position squaring prior to that news and not to be taken too seriously as market direction could easily shift for a time as a result.

on the other hand, no media remarks coming out of a desperate source, (ecb head or otherwise) at this late date will singlehandedly reverse the last 5 monthly candles imo either... better to have any low tf decision confirmed by one or more higher tf's... always. end of story.
FUBAR...
  • #236,694
  • May 5, 2010 10:38am May 5, 2010 10:38am
Quoting ak4x
(trichet speech) .
When is this I don't see it on the Calendar
  • #236,695
  • May 5, 2010 10:39am May 5, 2010 10:39am
Quoting mmccormac
So you going to make money when it goes back to the "middle". LOLOL
Classic example of why you don't try to pick bottoms..
Yeah, lol, I'm going to take my cash.. Mind your own biz.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #236,696
  • May 5, 2010 10:39am May 5, 2010 10:39am
USDx -monthly
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Click to Enlarge Name: USDx_monthly_m5.jpg Size: 141 KB
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #236,697
  • May 5, 2010 10:40am May 5, 2010 10:40am
Quoting Protogenos
For all the US haters, here are some things to keep in mind:

1) US GDP is higher than the next four countries combined
2) US is largest producer of energy in the world
3) US exports more agricultural products than any country in the world

I could go on and on, but people are just being delusional when they start talking about the demise of the US; we're going to be at the top for a long time
Except the USD is at the bottom. It's going to get a lot more uncomfortable in the US, when the dollar starts to rally. Housing prices will get worse, folks will loose their retirement from stocks crashing. Inflation rocked our world in the 70's, and deflation is going to do the same.
  • #236,698
  • May 5, 2010 10:44am May 5, 2010 10:44am
New development , the bull won for now , may reach 1.2910 before break.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #236,699
  • May 5, 2010 10:46am May 5, 2010 10:46am
Quoting fontu
New development , the bull won for now , may reach 1.2910 before break.
fontu
Yeah, before break to 1.3112 area.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #236,700
  • May 5, 2010 10:46am May 5, 2010 10:46am
Quoting homestudy
When is this I don't see it on the Calendar
"reactive" speeches rarely are...

you have to look elsewhere.
http://www.forexfactory.com/news.php?do=news&id=235061
FUBAR...
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