A usual...a boring Asian Session.
- #259,142
- Jun 17, 2010 12:26am Jun 17, 2010 12:26am
- | Membership Revoked | Joined Jun 2010 | 1,279 Posts
A said that the idea to live the Eur currency is "American" ....not to offense someone .... but to explain that the EUR is a political construct and no politician will live this project ... they will try to put in place an European government they will fight for it .... with or without success .... we will see 
It is more reasonable that this countries will lose their political and fiscal independence (Greece, Spain, Portugal) before to be kicked out.
It is more reasonable that this countries will lose their political and fiscal independence (Greece, Spain, Portugal) before to be kicked out.
- #259,143
- Jun 17, 2010 12:29am Jun 17, 2010 12:29am
Just wondering. Usually when a stock takes a dump despite great earnings and fundamentals, it becomes a value play. Market emotions and illogicalness have it going the wrong way at that time.
Right now we have an absolute mess in Eurozone brewing. Bad reports coming out by the minute. And yet, the Euro climbs hundreds of pips. Granted, not much USD power lately.
In a reverse sort of way, are we heading for a huge downside? So, is it a value play in reverse?
Intermediately, the E/U can still go up and play around in a state of euphoria, but are we looking at a possible monumental drop? Are we just waiting for the USD to actually gain a little strength? When gold pulls back, will there be a rubber band snapping effect shooting the E/U to parity or beyond?
What if Greece does indeed exit the EU, go back to its own currency and maybe reenters without the Euro? What does that mean?
Just asking. I don't know.
Right now we have an absolute mess in Eurozone brewing. Bad reports coming out by the minute. And yet, the Euro climbs hundreds of pips. Granted, not much USD power lately.
In a reverse sort of way, are we heading for a huge downside? So, is it a value play in reverse?
Intermediately, the E/U can still go up and play around in a state of euphoria, but are we looking at a possible monumental drop? Are we just waiting for the USD to actually gain a little strength? When gold pulls back, will there be a rubber band snapping effect shooting the E/U to parity or beyond?
What if Greece does indeed exit the EU, go back to its own currency and maybe reenters without the Euro? What does that mean?
Just asking. I don't know.
Only expectation matters . . .
- #259,145
- Jun 17, 2010 12:34am Jun 17, 2010 12:34am
- Joined Mar 2008 | Status: aka "Johny 1 Lot" | 1,267 Posts
- #259,146
- Jun 17, 2010 12:35am Jun 17, 2010 12:35am
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #259,148
- Jun 17, 2010 12:40am Jun 17, 2010 12:40am
- Joined Mar 2009 | Status: Trader | 6,418 Posts
medium heavy long off 2261 again...
this is better than aerobics... ((someone slap me and turn my puter off.))
Going to move SL to BE at +10, can't mess around with this one.
- #259,149
- Jun 17, 2010 12:43am Jun 17, 2010 12:43am
- Joined Mar 2008 | Status: aka "Johny 1 Lot" | 1,267 Posts
- #259,150
- Jun 17, 2010 12:47am Jun 17, 2010 12:47am
In a reverse sort of way, are we heading for a huge downside? So, is it a value play in reverse?
- #259,151
- Jun 17, 2010 12:47am Jun 17, 2010 12:47am
- Joined Jul 2009 | Status: Singleness of purpose: profit. | 1,298 Posts
- #259,152
- Jun 17, 2010 12:51am Jun 17, 2010 12:51am
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #259,153
- Jun 17, 2010 12:52am Jun 17, 2010 12:52am
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
Hey AK, how would you reconcile the above with the accuracy of wedges? ....
I agree with that wedge thing, but i don't put tried and true formations comprised of a number of price bars/candles following a pattern that form over time in the same boat as price that's been in a somewhat defined range for awhile simply passing sideways thru an angled line on a chart that someone thinks needs to be there, especially on lower TF's.
Higher TF's are a little different story of course but I've still erased a lot of angled lines on 4hr and higher TF's when price ranged sideways right thru them w/o even quivering. i often plot the things myself on lower TF's when price is actually moving but if price doesn't then respect them somehow, they're history.
my whole point here is really about price going "sideways" thru an angled line without any corroborating PA to convince me I need to risk my coin... I'll trade a Hzl s/r level with a limit order long before I'd put a limit order on an angled line. for me they're good for reference and whatnot, but they're way down the pole on priority.
candle formations tho... those are another story. in any event, as with anything, price has to confirm the thing or it becomes a non issue. that make any sense?
FUBAR...
- #259,154
- Jun 17, 2010 12:52am Jun 17, 2010 12:52am
based on PA. Look at daily chart - dosn't it look sexy on USD/CHF? Plus, you will be following long term trend.
Target 1.2040 IMO
Just like the recent EU bounce.
As far as PA goes, I've been trading UC and watching it daily and all I see is a downturn. Yesterday it was able to come back before losing steam. Today, it just lost it. At about 1.1300 it's been flat.
We'll see. I like trading the pair. I think we'll see movement one way or the other in the coming hours with all the news.
EDIT: Just wanted to add that I was wondering what you were seeing. I could be dead wrong.
Only expectation matters . . .
- #259,156
- Jun 17, 2010 12:56am Jun 17, 2010 12:56am
- Joined Mar 2008 | Status: aka "Johny 1 Lot" | 1,267 Posts
- #259,160
- Jun 17, 2010 12:58am Jun 17, 2010 12:58am
- Joined Aug 2009 | Status: Sir Richard Culus | 3,099 Posts
sorry for the delay, had to get a little buffer on that long first...
I agree with that wedge thing, but i don't put tried and true formations comprised of a number of price bars/candles following a pattern that form over time in the same boat as price that's been in a somewhat defined range for awhile simply passing sideways thru an angled line on a chart that someone thinks needs to be there, especially on lower TF's.
Higher TF's are a little different story of course but I've still erased a lot of angled lines on 4hr and higher TF's...
Another related observation I have had is that if one does use angled trendlines, the greater the angle...the less reliable. Unless of course it is based on a significant amount of price history. I am always a bit wary of any trendline that significantly exceeds 45 degrees....coinciding with the Gann line, of course....