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EURUSD

  • #242,641
  • May 16, 2010 6:39pm May 16, 2010 6:39pm
Quoting suthmo
I cocked this up when I calculated it at 0120 Sunday morning, still wankered from Friday/Sat night.

Here's my guide to the Euro for Sun/Mon follow at your own peril. All times in GMT

Sunday
22:00 2376
23:00 2340

Monday
00:00 2295/2300
01:00 2226
02:00 2181
03:00 Bottom Reversal Price to be announced...
i'm in holland, so normally gmt+1 (actually UTC+1?) but with summertime now, i should take your time and add 2 hours on top of it, right?

nevermind. already found it:
CEST – Central European Summer Time
Current time in Amsterdam
Monday, May 17, 2010 at 1:43:04 AM CEST

Amsterdam will stay on CEST until Sunday, October 31, 2010 at 3:00 AM
when clocks are moved to Sunday, October 31, 2010 at 02:00:00 CET
Time zone offset: UTC + 2 hours
  • #242,642
  • May 16, 2010 6:47pm May 16, 2010 6:47pm
An 18 year old Jewish Russian English Japanese trader took a bunch of coke and read everything about trading and had a revelation, he showed me how to do this in the 90's. It's evolved with me and I'm still learning it's nuances and I get it wrong a lot but It goes right a lot to, as many here have witnessed.
Founder of Sutherland Wave Principle
  • #242,643
  • May 16, 2010 6:53pm May 16, 2010 6:53pm
You know folks, if it is true the pen is mightier than the sword; (holds up his finger) then this is a bazooka. Tip of the hat, wag of the finger!
  • #242,644
  • May 16, 2010 6:59pm May 16, 2010 6:59pm
Quoting Zink
How do you now it will appens like that?
My wild guess would be trend channels.
  • #242,645
  • May 16, 2010 7:10pm May 16, 2010 7:10pm
Quoting cagriguler
You know folks, if it is true the pen is mightier than the sword; (holds up his finger) then this is a bazooka. Tip of the hat, wag of the finger!
Are you 'fat finger'?
Si vis pacem, para bellum.
  • #242,646
  • May 16, 2010 7:17pm May 16, 2010 7:17pm
This thing has gone to the shitter man. It can't even hold a temporary support level or make a significant retracement.
  • #242,647
  • May 16, 2010 7:20pm May 16, 2010 7:20pm
Quoting clambill
This thing has gone to the shitter man. It can't even hold a temporary support level or make a significant retracement.
So is that a bad thing for you?
  • #242,648
  • May 16, 2010 7:24pm May 16, 2010 7:24pm
How much tax money did they use to pump up DOW that day during the great crash of 2:45pm? I'll bet they threw a few hundred million to prop it back up and It lasted 6 days. Our kids kids will be paying this off for years to come?
Founder of Sutherland Wave Principle
  • #242,649
  • May 16, 2010 7:26pm May 16, 2010 7:26pm
i'm glad I hung on to a G/J short
  • #242,650
  • May 16, 2010 7:29pm May 16, 2010 7:29pm
Quoting Pb53chevy
So is that a bad thing for you?
No. I just feel sorry for the Europeans.

I actually took a short position soon after the prices started moving. Of course, since I didn't actually use a method to determine my entry point, I used a smaller amount of money than I ordinarily would since my entry was not based on some strict technical analysis method. For those who want to crap at the idea of just going short right after the markets start trading, my stop was not hit.
  • #242,651
  • May 16, 2010 7:45pm May 16, 2010 7:45pm
Quoting suthmo
How much tax money did they use to pump up DOW that day during the great crash of 2:45pm? I'll bet they threw a few hundred million to prop it back up and It lasted 6 days. Our kids kids will be paying this off for years to come?
That rumor of human error was such BS. Just goes to show dont believe the media.

PS: GU heading to 1.35xx according to weekly chart.
  • #242,652
  • May 16, 2010 7:54pm May 16, 2010 7:54pm
Quoting uraceulose
i'm glad I hung on to a G/J short
agreed I took a short as well. Glad I hung on, looks like more downside to go from here. Well at least I hope
Know when to hold em, Know when to fold em!
  • #242,653
  • May 16, 2010 7:55pm May 16, 2010 7:55pm
Quoting uraceulose
i'm glad I hung on to a G/J short

I am only happy when I know what I a doing when I follow cognitive thinking ........if I win and a lot by crossing my fingers or so on ......I am upset.......I always want more knowledge and the more I get the more the market is playing out exactly the way I forecasted....

I am on the sidelines......I forecast bear....can't believe it and my emotions are coming in the way....and sometimes I don't have the conviction to hold my position because my knowledge is limited...
  • #242,654
  • May 16, 2010 7:56pm May 16, 2010 7:56pm
Quoting neo1599
That rumor of human error was such BS. Just goes to show dont believe the media.

PS: GU heading to 1.35xx according to weekly chart.
Didn't you hear about the Goldman Sachs algorithm manipulation? I guess when you hold most of the open positions in the market you can make it go any way you want with algorithms. If I remember the story right, that day they were in congress threatening to audit the fed so they tanked the dow as a warning. They did it in 08 to scare the politicians into forking out the bailout money. Correct me if I'm wrong here guys. I have to find links to those stories. Stand by.
Founder of Sutherland Wave Principle
  • #242,655
  • May 16, 2010 7:59pm May 16, 2010 7:59pm
ASIA DAILY FOREX OUTLOOK - Majors

17 May 2010, 01:28


SINGAPORE (Dow Jones)--Following are expected trading ranges and outlooks for nine major currency pairs today:


http://cdn.forexfactory.com/images/attach/pdf.gif 2010-05-17_ASIA DAILY FOREX OUTLOOK - Majors.pdf (11.1 KB)


EUR/USD - to trade with risks skewed lower morning's 18-month low 1.2339 on EBS. Weighed by increased risk aversion, growing doubts about viability of nearly $1 trillion EU/IMF rescue package rescue package for heavily-indebted euro-zone member countries, despite Geithner's comment that Europeans "They have the capacity to make that program work." EUR/USD also hurt by ECB's dented credibility as inflation fighter and its reputation for independence from political pressure after its turnaround last week to buy troubled euro-zone debt; worries about negative economic effects of severe austerity measures, tax hikes implemented by euro-zone governments; Deutsche Bank chief Ackermann saying it's "doubtful" whether Greece over time would be able to repay its debt; ex-Fed chairman Volcker citing possibility of euro-zone disintegration. EUR/USD daily chart negative-biased as MACD & stochastics bearish, although latter at oversold. Support at 1.2328 (Oct. 28, 2008 trough); breach would expose downside to 1.2220 (projected base of descending channel formed with Dec. 22 low of 1.4216 and April 14 high of 1.3678), then psychological 1.2000 and 1.1823 (Feb. 27, 2006 reaction low). Resistance at 1.2438 (hourly chart), then at 1.2575 (Friday's high); breach would expose upside to 1.2684 (Thursday's high), then 1.2739 (Wednesday's high), 1.2802 (Tuesday's high) and 1.3093 (May 10 high).




I will trade it towards 1.2438 limit at first - and later I will try to travel furthermore up possibly. My first entry is at 1.2338 / 33 zone. Further limits next at 1.2290 / 80 area waiting to be executed / filled if it cuts lower later.



Let's see



;-)



bibib
Attached File(s)
File Type: pdf 2010-05-17_ASIA DAILY FOREX OUTLOOK - Majors.pdf   11 KB | 305 downloads
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #242,656
  • May 16, 2010 7:59pm May 16, 2010 7:59pm
Quoting suthmo
Didn't you hear about the Goldman Sachs algorithm manipulation? I guess when you hold most of the open positions in the market you can make it go any way you want with algorithms. If I remember the story right, that day they were in congress threatening to audit the fed so they tanked the dow as a warning. They did it in 08 to scare the politicians into forking out the bailout money. Correct me if I'm wrong here guys. I have to find links to those stories. Stand by.

Must have missed it. I haven't read or heard of this.

The algorithm part I can imagine after all they are big players with resources to develop and employ such strategies, indeed its a must if you are that big.

Looking forward to the links.
  • #242,657
  • May 16, 2010 8:00pm May 16, 2010 8:00pm
Quoting clambill
No. I just feel sorry for the Europeans.

I actually took a short position soon after the prices started moving. Of course, since I didn't actually use a method to determine my entry point, I used a smaller amount of money than I ordinarily would since my entry was not based on some strict technical analysis method. For those who want to crap at the idea of just going short right after the markets start trading, my stop was not hit.
sorry ? If Euro disappear I'll party forever... we need to recover our national currency ( I'm Italian ) to restart to be competitive and wealthy...
  • #242,658
  • May 16, 2010 8:02pm May 16, 2010 8:02pm
Quoting grandpost
I am only happy when I know what I a doing when I follow cognitive thinking ........if I win and a lot by crossing my fingers or so on ......I am upset.......I always want more knowledge and the more I get the more the market is playing out exactly the way I forecasted....

I am on the sidelines......I forecast bear....can't believe it and my emotions are coming in the way....and sometimes I don't have the conviction to hold my position because my knowledge is limited...

Price opened came up to dpp, signals said short on lower tfs..ma's are crossed the right way..pretty cognitive. to be honest though what I meant was I hung on to a G/J short from last week so like I said
  • #242,659
  • May 16, 2010 8:03pm May 16, 2010 8:03pm
Quoting grandpost
I am only happy when I know what I a doing when I follow cognitive thinking ........if I win and a lot by crossing my fingers or so on ......I am upset.......I always want more knowledge and the more I get the more the market is playing out exactly the way I forecasted....

I am on the sidelines......I forecast bear....can't believe it and my emotions are coming in the way....and sometimes I don't have the conviction to hold my position because my knowledge is limited...
The only knowledge you need in my opinion right now is Greece accepted to make budget reductions of 30 billion to receive the bailout at an interest rate of 5%. I heard this will worsen the recession which will make it harder for them to pay back the money at 5%. The Eurozone has not let Greece default on their debt so we have to wait for something significant like that to happen before seeing the euro recover.

Until then, we can fade every retracement, that's if they happen anyway.
  • #242,660
  • May 16, 2010 8:10pm May 16, 2010 8:10pm
Are there no fundamental analysis guys here?

I would love to know the fundamental story of the current situation. How does the steps taken by the ECB affect the whole of EZ for the next couple of decades? In short the future effects of the these steps.

I think its the fundamentals which are being priced in now. TA gives us a very bleak picture of the Fundamentals. Would be interesting to know the reverse.
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