EURUSD

Something fishy so going on. Volatility has been crazy. I would doubt Greece agreeing to the deal just to temporary push EUR up. Because its a long way til this deal is complete.

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Strangely USDx rising.. Who is contributing to the index?

Probably Cable.

I would love to see this but right now really doubt it. I still have a long from now hold your heads 1.35 but hedged at 1.32 so I am not worried the hedge has its sl in profit so let it come up....

Best way is to scalp these small swings.

Funny to see all the time "traps" set for both bulls and bears in 1min timeframe.

yea and we have been waiting for this rally for how long??????? Just trade with it and move sl into profit.

pretty funny if you ask me.. lets see if the posts get deleted

Yeah.. it's a debt crisis.. it's the end of debt based money.. IMO.. could take another 1-2 years to fully play out.. The FED doesn't have enough dry powder to get away with it this time.. This collapse started around 2001, they've just been holding everything up with smoke and mirrors..

I was in Portland in January.. met a guy from Greece at the airport.. He was pretty well read in "conspiracy" stuff and we had a nice conversation.. I asked him about the greek debt problem.. you'd think I just asked him about the price of tea in china.. he had no idea what I was talking about.. said it was nothing to worry about.. "greece with pay their debts".. he said

Point being.. all of these things will come.. ALL countries are in debt problems (western) because we've all moved too much of our industries to asia.. it's pretty simple math actually... Our standard of living has been supplimented by our ability to print money (debt) and now that is coming to an end.. You don't even need a chart to understand it.. Just an unbiased macro view of things..

Germany has the ball tomorrow. Germany is a wildcard...

a no-fly passenger removed off a plane..

"Moody's confirms Italy is NOT under review"

Malcom is a gr8 trader who knows why he is not posting maybe he is making millions on es shorting so take it easy only because ppl dont post doesnt mean sh#t. Ever thought about being so busy and not having the time to post???

[GREEK PARLIAMENT] reportedly approved new austerity measures tied to the EU/IMF loan package by a yes-vote of 172 vs 121 against the bill. Voting results cited by state-run TV according to comments from speaker of the parliament.

* But didn't they fire 3 parliament members earlier for not agreeing with the deal?

Doesn't sound right. Cooking the Book perhaps.

Best way to trade this sort of action is with Range Bar Chart.

let it digest.. betting on a shell game.. imf is taken heat now..

Indeed I am long UJ based on monthly chart, so I am not bothered about 92 touch. My stop is well out of noise where shakers won't be able to get to. But I do accept that trend trading is not holy grail. Most important thing about a trend is that you are backed by other positions some really big ones that will defend them, counter trend traders don't have that luxury.

I am also long Gold & short GBP.

Agreed All the currencies are going to go through this, I just pity the US right now because they are very quickly losing the EU as a prime export market, and without manufacturing who's gonna pay the bills?

Well said..

"We" ? You working at an investment bank / hedge Fund ? If so i could need some help with my application cover letter ^^


Heres a possible list of events that could unfold:

1) ECB calling all those Heavy Shorts and telling them they are going to intervene in order to cutthroat all those shorts
2) ECB Pulling credit lines on margin accounts
3) Greece Defaulting Partially or Compeltely which would cause a massive collapse in investor confidence
4) Positive NFP report tommorow pretty much igniting (seriously..) a sell frenzy among investors and retail traders taking out stops and bringing us to november 08 lows
5) Bundestag ruling on the Bailout package in Germany going one way or another, reducing solidarity
6) One of the most important thigns the ECB can do is their so called "nuclear option" as the WSJ phrased it nicely which would pretty much involve them buying bonds from the secondary markets.. igniting a buy rally at least until speculators feel like its far enough up again to repeat the short rally.
7) Washington Sweeping in saving the day
8) euro desintegrating


Personally there are too many possibilities for an outcome thats why i cannot perform a weekly analysis but only a day to day analysis, we knew weeks ago this would happen although i severely hoped it would take longer, crumbling is always a sign of recovery, but 4-6 straight weeks of bear action isnt considered crumbling, its like a mighty fist falling down =/

So for me im just trading the drops based on fork/line analysis for now and profiting from the sidechannels and avoiding news like the plague which is becoming increasingly hard. Did a lot of Demo trades instead of live today and would have been very profitable. But i am severely afraid of what is going to happen during the Weekend.

What i know and what i can tell you with absolute certainty:
http://img291.imageshack.us/img291/3529/picture1am.png

We are heading for the bottom of the channel, there will be some minor (60 pip) retracements along the way but we are heading for 1.22 either way, what i cant tell you is if the EU will be able to prevent a wildfire. Friends of mine have set their projections to 1.15.

I hope it doesnt happen, i live in the EU (Austria) and this could unfold to be a DISASTER of EPIC proportions. The worst part is, a fall of the EU would trigger a global financial disaster of proportions not seen since 1930.. so yeah... i really hope they do stop it.

On another note 1.15-1.24 is an ideal zone for the EU to regain economic stability because it increases export rates, question is if washington will let this happen or not.

This 4H needs to close below 2739. I think we might even see a new low.

Watch for it. I have my SL at 1.2755. If we go up I will look to short agian at 2789, for ST, and then at 2931, LT.

Very tisky job done with success . hedge price below 1.2685 , close at 60 & existing longs remain intact without further longs added. ok .long targets same as before, all in profit now.
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