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  • #239,181
  • May 9, 2010 7:19pm May 9, 2010 7:19pm
[Dow Jones] Westpac FX strategy report says it remains to be seen how sustainable EUR/USD rally will be. Notes some support derived from speculative market which has been unusually short EUR over recent weeks. Notes IMM speculative accounts held fresh record net short EUR positions as at May 4, in data released late Friday. Says riskier assets have so far rallied strongly in early Asia trading, approval process of expected EU stability fund will be crucial to trading in Asian session. Says likely EU will do enough to support EUR/USD, at least for few sessions and pair can extend gains to 1.30-1.31. But as U.S. jobs data show, growth pulse is far stronger in U.S., so EUR/USD still a sell on rallies. EUR/USD now 1.2879.
  • #239,182
  • May 9, 2010 7:19pm May 9, 2010 7:19pm
[Dow Jones] EUR/JPY up at 118.65 vs 116.43 in New York Friday, EUR/USD rises to 1.2878 vs 1.2740; EUR may rise further as news EU considering creating EUR600 billion stability fund reassures some Asian investors who worry Greek fiscal troubles will deepen, spread to other European nations, says Gaitame.com chief analyst Daisaku Ueno. "If this (package) becomes reality, investors think it's now safer to buy" EUR; market participants await results of meeting of EU finance ministers. Says EUR/JPY may rise to 121.00, support at 118.00; EUR/USD may rise to 1.3000; support at 1.2800. USD/JPY may also gain ground to 93.50 given upward pressure on JPY-crosses; tips USD/JPY support at 91.50 vs 92.11 last, up from 91.40 in New York.
  • #239,183
  • May 9, 2010 7:21pm May 9, 2010 7:21pm
Quoting mfoste1
it just pisses me off bc every time i come in here, there are more and more idiots....this thread used to be good when i first came around here and I learned a TON of stuff from the smart guys and really improved my abilities ..... now its just like 9 out of 10 posts are just complete bs. If this keeps on like this i might leave.
Yes, most people who post in a forum like this have clear bias one way or the other. They are unsure about their trading methods and are looking for support, or feel that somehow by voicing their opinion things will magically work out for them. This is why most people appear irrational calling tops, bottoms and reversals every day or two. My advice is, if you want to be a top trader nobody can teach you, and you can't follow the herd. You have to learn from your own successes and failures. Coming here for validation on your trades is not going to help you.
  • #239,184
  • May 9, 2010 7:27pm May 9, 2010 7:27pm
Quoting Awesome
Coming here for validation on your trades is not going to help you.
Yep, you hit the nail on the head.
This forum is better for sharing real time informations and news moving the markets, knowledge, or trading advices.
But because nobody have a crystal ball, it's useless (imho) to try to convince others of the validity of your own trades or market bias. But it could be nice to post your trade plans, to let others see your decision making process/methodology.
Getting it right is NOT as important as not getting it wrong.
  • #239,185
  • May 9, 2010 7:28pm May 9, 2010 7:28pm
Quoting X.Oden
Thanks for posting....it helps me see a different perspective...
all i can tell you is lots of money can and will be made for those who turn down the bullshit. fact the Swiss are weaker for 2 reasons. more weaker then this chart shows. 1 they bought euros and still hold them. They are out of bullets. 2 the chart shows a bullish wedge that will benefit usd verses Swiss. Weak Swiss = stronger usd verses euro. Long in the making before Greece. Weak euro verses usd will weaken euro verses Swiss. A weak euro hurts Swiss exports. Swiss will least benefit on any euro downturn. This downturn in euro hurting Swiss exports has yet to show. But its about too.. Its a house of cards.. this may already be the good old days. red lines are a huge bull wedge.. blue is a smaller but huge.. we have already breached it. the bell may have already be rung. not getting to lower tl on both red and blue show lack of interest to push it.. our recent high is the test level..

i could tell you a bunch of ma crap on the 200 weekly's ect.. the monthly embryo mac d ect. plus a few others but there isnt much point if your trading on a 4h tf... but hell i dont even use this stuff ... i go by what a clean chart math says. but they do agree.
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those who can, do. those who cant, talk about those who can
  • #239,186
  • May 9, 2010 7:30pm May 9, 2010 7:30pm
Quoting Awesome
Yes, most people who post in a forum like this have clear bias one way or the other....
This is a good value post Awesome hope many will grab this advice...
  • #239,187
  • May 9, 2010 7:30pm May 9, 2010 7:30pm
*Korea: Vice Fin Mins Of G20 Nations To Share Opinions On Greek Crisis
  • #239,188
  • May 9, 2010 7:33pm May 9, 2010 7:33pm
Quoting fxswing
Yep, you hit the nail on the head.
This forum is better for sharing real time informations and news moving the markets, knowledge, or trading advices.
But because nobody have a crystal ball, it's useless (imho) to try to convince others of the validity of your own trades or market bias. But it could be nice to post your trade plans, to let others see your decision making process/methodology.
Another good one post man this post is on fire lol.. the thing is there is good trader out here but you have to filter out we should invent a stochastic post filter lolol...
  • #239,189
  • May 9, 2010 7:33pm May 9, 2010 7:33pm
Well, think about it for a second. If people like us could skim money off the Forex market with impunity, the big players would suffer unacceptable losses. They rely on our fear and uncertainty to shake us out of good positions and ride the bad ones too long. If I am to achieve my long term goal of financial independance trading FOREX and commodities, then I definitely have to grow bigger b*lls, overlook short term fluctuations (1-3 days) and really discipline myself to follow the big guys. Do you think any giant hedge funds were covering on Friday?. Look at the volume. It was just the retail crowd and the market movers love that kind of stuff cause these gaps scare the heck out of the little guy. That keeps us from taking the ride from 1.26xx-1.29xx down to 1.23. I have to admit that the EU chatter, the gap, and the recent steep declines have me second guessing my feeling that this week will end with the EUR/USD in the low 1.20's. However, based on my technical analysis, that is exactly where I think we will be by Thursday.
  • #239,190
  • May 9, 2010 7:33pm May 9, 2010 7:33pm
Quoting malcolmb14
been traidng using simple hulls moving average and murray math lines , playing between them , stop is moved to just under 6/8 mml with targets 1.4860 / 1.4890

mostly on a 2 / 5 and 15 min chart

volatility has been so high that a lot of good gu trades have been off a 2 min chart.

Attachment
eu and mml

long 1,2880 , 20 pip stop , 1st tp 1.2940

pretty nice stopping vol 5 min at 1,2840

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Blogging daily now at www.volume.zone
  • #239,191
  • May 9, 2010 7:34pm May 9, 2010 7:34pm
Quoting gatorinla
all i can tell you is lots of money can and will be made for those who turn down the bullshit....

Hey gator, what do you think is happening right here?
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"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #239,192
  • May 9, 2010 7:37pm May 9, 2010 7:37pm
FRIEDEN says ECB to announce intervention in markets
  • #239,193
  • May 9, 2010 7:38pm May 9, 2010 7:38pm
[Dow Jones] EUR/USD is likely to keep heading south toward 1.20 over next three months, even in best-case scenario of EU quickly approving a large, multi-billion emergency EUR500 billion facility that may be tapped by Spain, Ireland and Portugal, Barclays Capital says. Adds, fiscal consolidation remains a must for these countries, possibly including significant deflation as they can't rely on a significantly weaker EUR to re-gain competitiveness lost in recent years through high inflation, while ECB keeps a loose monetary policy to help them grow out of problems. "This tight fiscal/easy monetary policy mix is likely to be negative for EUR... We would also not rule further political tensions in getting this latest facility approved. This potential new package is further involving the rest of Europe in the peripheral countries' debt problems." Reckons EUR/USD short-term bounce is possible, but shouldn't go far. EUR/USD last at 1.2879 vs 1.2745 in late NY trade Friday.
  • #239,194
  • May 9, 2010 7:39pm May 9, 2010 7:39pm
stop be

crazy pa

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Blogging daily now at www.volume.zone
  • #239,195
  • May 9, 2010 7:39pm May 9, 2010 7:39pm
Quoting AMuharram
Hey gator, what do you think is happening right here?
looks like a usd ass whippen.. why?
those who can, do. those who cant, talk about those who can
  • #239,196
  • May 9, 2010 7:41pm May 9, 2010 7:41pm
ECB to make announcement on market intervention measures soon

By Sean Lee || May 10, 2010 at 00:39 GMT
|| 0 comments || Add comment
The EUR/USD has popped up 30 pips on that statement from the finance minister of Luxembourg.
  • #239,197
  • May 9, 2010 7:45pm May 9, 2010 7:45pm
Quoting malcolmb14
eu and mml

long 1,2880 , 20 pip stop , 1st tp 1.2940

pretty nice stopping vol 5 min at 1,2840

Attachment
Nice valid hammer pattern.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #239,198
  • May 9, 2010 7:46pm May 9, 2010 7:46pm
Quoting gatorinla
looks like a usd ass whippen.. why?
Any chance we could see the dixxy running away and not filling it?
"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #239,199
  • May 9, 2010 7:49pm May 9, 2010 7:49pm
Quoting Awesome
Yes, most people who post in a forum like this have clear bias one way or the other. They are unsure about their trading methods and are looking for support, or feel that somehow by voicing their opinion things will magically work out for them. This is why most people appear irrational calling tops, bottoms and reversals every day or two. My advice is, if you want to be a top trader nobody can teach you, and you can't follow the herd. You have to learn from your own successes and failures. Coming here for validation on your trades is not going to...

In this forum I havn't seen magic ...rather the herd, crowd, but i got much added benefits....i picked up a little knowledge....and I got to see how the ones that don't know act.....exactly like what the books said.......I tried unplugging a few but their ego hurts.....

I claim to know from my learning process what has made me profitable and I have realized that it is what all the successfull traders are talking about I tried explaining it in many posts but as you say most people here just blabbering as if it will change the markets or just to satisfy their ego.....

Seekers Creed "The Master Time Factor" will let you have it!

Pattern trading is what the Fed admits, brokers have set laws and methods to defeat, and all proper explanations of it gets manipulated.......There is a system .........sytems are meant for control and limits.....they know where we are going exactly and at what time and you should know that too

Yeah When it was all over the news EURO DISASTER........I BOUGHT

Explainable with knowledge.......
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  • #239,200
  • May 9, 2010 7:49pm May 9, 2010 7:49pm
Well, think about it for a second. If people like us could skim money off the Forex market with impunity, the big players would suffer unacceptable losses. They rely on our fear and uncertainty to shake us out of good positions and ride the bad ones too long. If I am to achieve my long term goal of financial independance trading FOREX and commodities, then I definitely have to grow bigger b*lls, overlook short term fluctuations (1-3 days) and really discipline myself to follow the big guys. Do you think any giant hedge funds were covering on Friday?. Look at the volume. It was just the retail crowd and the market movers love that kind of stuff cause these gaps scare the heck out of the little guy. That keeps us from taking the ride from 1.26xx-1.29xx down to 1.23. I have to admit that the EU chatter, the gap, and the recent steep declines have me second guessing my feeling that this week will end with the EUR/USD in the low 1.20's. However, based on my technical analysis, that is exactly where I think we will be by Thursday.
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