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  • #254,101
  • Jun 6, 2010 11:13pm Jun 6, 2010 11:13pm
Good things come to those who are patient.


Quoting onemind
I use all time frames.

We're at rock bottom, it will either retrace or make a new low or both.

THere are no clear trends or channels to trade for my scalping technique so i'll just watch.
Ah Luv the smell of a good prediction in the mornin!
  • #254,102
  • Jun 6, 2010 11:16pm Jun 6, 2010 11:16pm
While I believe it's going lower, I wouldn't be surprised to see a sizable gain first.

We shall see. I'm short it again right now. Oh never mind. Just hit my target for more pips.

You may proceed upward again.
Only expectation matters . . .
  • #254,103
  • Jun 6, 2010 11:18pm Jun 6, 2010 11:18pm
Quoting RebelRed
I am destroying the market. Evidently my trades are so large that they move the market. I could long or short every pair at the same time and I guarantee every single one goes the wrong way.

Oh well, at least I have my Euro short trade to keep me company.

Swear I will never trade that stupid Yen again.
:-) Oh my, I empathise fully with your comments!! So often I have that exact same effect on the market LOL However things did seem to be improving and going my way till I read some seemingly good info regarding trading AUD/JPY. That was last Thursday. Gave it a go on Friday and, with that sudden plummet, wiped my still very small account out again. Deep breath, start again and I am back to the good old Eur/USD.
Broke but still smiling :-)
  • #254,104
  • Jun 6, 2010 11:23pm Jun 6, 2010 11:23pm
Hi all,
after one week of being ill (was down with the flu) I see the € beaten down like this makes me feel a little sad. I would have expected to see some kind of intervention when falling below 2100, now seeing this low of 1875 is really horrible. I know I shouldnt feel any kind of sadness or happiness when it comes to trading, but still 1:1 is not that far away and the news are full of bad things makes you wonder sometimes.
Its summer people should be a little more up beat and positive. Well shorting seems to be working well, the retraces have been very shallow. For me a good retrace to 1982 or 2048 would be nice to short. Again trading is not what you want or would like to see one has to go with the flow. Hope I manage a few trades today with the flow.
Good green pips to all of you,
The cat is back
Trade on your own risk Plan your trade&trade your plan dont be a
  • #254,105
  • Jun 6, 2010 11:24pm Jun 6, 2010 11:24pm
Quoting gatorinla
you gotta climb to dive. http://www.youtube.com/watch?v=qVDpZICTUs4
hmmmm..thats weird. his scaling down to dive.
same fate for euro?
  • #254,106
  • Jun 6, 2010 11:24pm Jun 6, 2010 11:24pm
Positive
1.2152
1.1992

Negative
1.1948
1.1797
A little beginner trader since 2006
  • #254,107
  • Jun 6, 2010 11:26pm Jun 6, 2010 11:26pm
The euro zone is facing a period of zero growth if not recession, and the United States is heading for financial trouble, U.S. economist Nouriel Roubini was quoted as saying on Saturday.

http://www.cnbc.com/id/37531998
A little beginner trader since 2006
  • #254,108
  • Jun 6, 2010 11:31pm Jun 6, 2010 11:31pm
london will get this thing moving
  • #254,109
  • Jun 6, 2010 11:32pm Jun 6, 2010 11:32pm
Quoting onemind
london will get this thing moving
It better be my way!
  • #254,110
  • Jun 6, 2010 11:34pm Jun 6, 2010 11:34pm
Correct me if i go wrong

  1. Americans give loans without credit checks
  2. American Citizens buy homes based on these credit card (free money)
  3. Americans bet on housing market growth, float bonds
  4. Greece buys the bonds thinking, prices will go higher and make more money
  5. Bubble bursts, Americans print money to bail out banks, lowers rates to create inflation to get out of recession.
  6. More money = more rapid inflation, more job cuts in the long run = more recession = more money printed to bail banks

where does this end ???

the common people never get the money the government printed to bail out banks, so where does this go ??

  • #254,111
  • Jun 6, 2010 11:35pm Jun 6, 2010 11:35pm
WSJ:
Top Zone Official: Currency's Level Isn't a Concern
... "I was surprised by the speed of the fall, but I'm not worried about its current level," Mr. Juncker said, noting he doesn't normally comment on exchange rates.

I think it is a good news for bearers as there is low chance of intervention at this level.
  • #254,112
  • Jun 6, 2010 11:35pm Jun 6, 2010 11:35pm
INTRA-DAY EUR/USD:

Last Update At 07 Jun 2010 02:36 GMT

Range Forecast
1.1785 / 1.1935


Resistance/Support
R: 1.1955/1.1990/1.2016
S: 1.1876/1.1866/1.1827
A little beginner trader since 2006
  • #254,113
  • Jun 6, 2010 11:37pm Jun 6, 2010 11:37pm
Quoting fontu
The apparently dog took the shape of a camel & raising head , the hs actually in action , 1.1947 may be the ear down to 24 & raise head towards 61 . trades adjusted likewise.
perhaps ear one shown at 39 back to 1.1908/5 to up again 47 .
fontu
Progress ok ,tp all shorts at 1.1908 but longs pendings set at 07,06 not triggered but it should be there before 49 next . otherwise it go direct now will short there for 06 & possibly break down this time and 61 should be difficult in this movements up. shorts active at 36 & above pendings.
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #254,114
  • Jun 6, 2010 11:37pm Jun 6, 2010 11:37pm
Quoting Naseri13
The euro zone is facing a period of zero growth if not recession, and the United States is heading for financial trouble, U.S. economist Nouriel Roubini was quoted as saying on Saturday.

http://www.cnbc.com/id/37531998
Best solution for America to get out of recession

  1. Make weapons, make terrorists, create a war
  2. Sell weapons, earn money
  3. No recession

  • #254,115
  • Jun 6, 2010 11:41pm Jun 6, 2010 11:41pm
Isn't that what the USA has been doing for years now already ??!!
  • #254,116
  • Jun 6, 2010 11:42pm Jun 6, 2010 11:42pm
Quoting forexlion
Correct me if i go wrong
[list][*]Americans give loans without credit checks[*]American Citizens buy homes based on these credit card (free money)[*]Americans bet on housing market growth, float bonds[*]Greece buys the bonds thinking, prices will go higher and make more money[*]Bubble bursts, Americans print money to bail out banks, lowers rates to create inflation to get out of recession.[*][size=4][b]More...
Banks are sitting on it and pretend to be well capitalized. They might be that... as long as main street won't get hands on it, it would cause inflation.

http://research.stlouisfed.org/fred2...ax_630_378.png
  • #254,117
  • Jun 6, 2010 11:43pm Jun 6, 2010 11:43pm
might buy gold on signal today
When life gives you lemons, make lemonade
  • #254,118
  • Jun 6, 2010 11:44pm Jun 6, 2010 11:44pm
Quoting forexlion
[b][size=4]?

the common people never get the money the government printed to bail out banks, so where does this go ??

that's where, bilderberg or somethin imo
  • #254,119
  • Jun 6, 2010 11:46pm Jun 6, 2010 11:46pm
Quoting forexlion
Best solution for America to get out of recession

 

  1. Make weapons, make terrorists, create a war
  2. Sell weapons, earn money
  3. No recession



Markets do have a tendency to overreact and overshoot too quickly in these types of trading environments and we would not at all be surprised to at least see some form of a reversal, with some buying back into risk, on account of dramatically overdone technical readings. The Euro has already broken below 1.1900 in early Monday trade, while Eur/Chf has grinded to another record low, and Eur/Jpy has dropped sharply to its fresh 2010 low. While we do not recommend buying back into risk just yet, there could be a compelling opportunity to do so for those who are patient. It always seems as though the moment at which investors are all convinced that the markets have no hope, is the moment when all of a sudden we see some major reversals. We are simply not sure if that moment has arrived just yet.
Looking ahead, the calendar for Monday is light, with Eurozone sentix (-7.0% expected) due at 8:30GMT, followed by German factory orders (-0.4% expected) at 10:00GMT. In North American trade, US consumer credit (%0.0B expected) is the only material release, due at 19:00GMT. On the official circuit, Fed Yellen is slated to speak later in the day at 21:00GMT. US equity futures are pointing to extended declines ahead of the European open, while oil is also tracking lower. Gold remains well supported and trades flat on the day.
A little beginner trader since 2006
  • #254,120
  • Jun 6, 2010 11:48pm Jun 6, 2010 11:48pm
Quoting micho
might buy gold on signal today
EU start it s rise after touching 11875 as I said , will continue rising till 11975 ,keeping above this level will take us to 12160.
A little beginner trader since 2006
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