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Silent Service Method

  • #9,401
  • Jun 25, 2010 3:31pm Jun 25, 2010 3:31pm
Nice trades everyone. I'm short eurusd but it's hanging around 1.24 too much for my liking, either it's going to drop from here and the trend continues or it'll carry on retracing. Next week will tell. Have a good weekend all.
Position trader - Anything intraweek is just noise...
  • #9,402
  • Jun 25, 2010 4:04pm Jun 25, 2010 4:04pm
That was odd... there was a lot of selling pressure on eurusd pushing it down by 10 to 15 pips in quite big jumps just in the last few minutes of trading. I wonder if this tells us anything for the general direction next week? Could be one or more bigger traders stepping in to sell close to 1.24 which is turning out to be quite strong resistance. Mind you, could be traders closing longs for the weekend? We'll see.
Position trader - Anything intraweek is just noise...
  • #9,403
  • Jun 25, 2010 4:12pm Jun 25, 2010 4:12pm
Quoting Arfer Daily
That was odd... there was a lot of selling pressure on eurusd pushing it down by 10 to 15 pips in quite big jumps just in the last few minutes of trading. I wonder if this tells us anything for the general direction next week? Could be one or more bigger traders stepping in to sell close to 1.24 which is turning out to be quite strong resistance. Mind you, could be traders closing longs for the weekend? We'll see.
It's probably the traders closing out for the weekend, there is the G-20 meeting in Toronto which could produce some headlines. I personally think if you cannot take a small pop of 100 pips against your position - you are too highly leveraged.

But most people don't trade like that it seems. They are often trading with other people's money as well, for what that's worth.....

Chris
  • #9,404
  • Jun 25, 2010 5:29pm Jun 25, 2010 5:29pm
DJIA posted 434 M shares traded today. Double the average daily volume of the last week. Finally, something worth paying attention to.
  • #9,405
  • Jun 25, 2010 5:35pm Jun 25, 2010 5:35pm
Quoting Arfer Daily
That was odd... there was a lot of selling pressure on eurusd pushing it down by 10 to 15 pips in quite big jumps just in the last few minutes of trading. I wonder if this tells us anything for the general direction next week? Could be one or more bigger traders stepping in to sell close to 1.24 which is turning out to be quite strong resistance. Mind you, could be traders closing longs for the weekend? We'll see.
Looking at the daily chart I feel like I picked a good entry when the price turned around at 1.2450.

Looking at the weekly chart I feel like the price is going to go up after turning at 1.2200 support.

Now what? At least the trend is down.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd d.gif Size: 20 KB
Click to Enlarge Name: eurusd w.gif Size: 20 KB
  • #9,406
  • Jun 25, 2010 7:31pm Jun 25, 2010 7:31pm
Quoting Low
DJIA posted 434 M shares traded today. Double the average daily volume of the last week. Finally, something worth paying attention to.
But it formed a doji.....so what's your thinking on it?
  • #9,407
  • Jun 25, 2010 11:35pm Jun 25, 2010 11:35pm
Quoting clockwork71
But it formed a doji.....so what's your thinking on it?
I have a really long-winded answer the essentially amounts to :

I don't know.

I may post it later, but I would've had a much clearer view if it had happened two days ago.
  • #9,408
  • Jun 26, 2010 7:15am Jun 26, 2010 7:15am
Quoting Low
I have a really long-winded answer the essentially amounts to :

I don't know.

I may post it later, but I would've had a much clearer view if it had happened two days ago.


Great answer.

Actually, with the G-20 this weekend, I wouldn't read too much into Friday or even Thursday.
  • #9,409
  • Jun 26, 2010 2:10pm Jun 26, 2010 2:10pm
Quoting clockwork71
But it formed a doji.....so what's your thinking on it?
I'll give this a shot:

My long winded answer was based not only on the DJIA but on it's potential movement based upon FX correlations. Since those have changed with respect the the index, that analysis is shelved for the moment.

I think the VSA guys might paint it as "accumulation" pointing to an upswing, which I think is possible, but I give the 50 and 200 dma a lot of credit when it comes to major indexes because so many traders trade them. The DJIA was constrained to the upside by the 200 on Wednesday, at a lvel I was looking at for a bounce, with extremely weak volume, putting the ki-bosh on any bullishness.

I will look for the MA's to cross in a few days, further inhibiting the upside and "proving" to MA traders that the downtrend is official. A break of the 200 dma or of established resistence at the 10.500 area would show valid bullishness.

As far as what it means to FX? I don't really know.
  • #9,410
  • Jun 26, 2010 2:52pm Jun 26, 2010 2:52pm
So what about Wimbeldon. Not a fan of football even if Scotland had been playing.

Go Andy go.
  • #9,411
  • Jun 26, 2010 4:01pm Jun 26, 2010 4:01pm
Quoting Maggioz
So what about Wimbeldon. Not a fan of football even if Scotland had been playing.

Go Andy go.
Not even Scotland???????
  • #9,412
  • Jun 26, 2010 4:04pm Jun 26, 2010 4:04pm
The US had a decent cup I suppose. One thing we need - a true striker, and not Clint Dempsey. I know he got ruffed up, but seriously, it's not even a rough sport. He spent much too much time on the ground.

And you Europeans don't start with me - I played Ice Hockey for 14 years. (And not that powder puff kind you play in Europe/Scandinavia.) So yes, soccer/football isn't a rough sport at all.

But one thing you can say about footballers, they do tend to recover from the edge of death quite quickly! For the record, my favorite US player is now Benny Feilhaber. But.....he was born in Rio de Janeiro. He currently plays in Denmark for Aarhus. Something tells me he will be playing in a real league soon. I was really impressed with our Brazilian hand-me-down.

Hup Holland!
  • #9,413
  • Jun 26, 2010 4:31pm Jun 26, 2010 4:31pm
Quoting clockwork71
The US had a decent cup I suppose. One thing we need - a true striker, and not Clint Dempsey. I know he got ruffed up, but seriously, it's not even a rough sport. He spent much too much time on the ground.

And you Europeans don't start with me - I played Ice Hockey for 14 years. (And not that powder puff kind you play in Europe/Scandinavia.) So yes, soccer/football isn't a rough sport at all.

But one thing you can say about footballers, they do tend to recover from the edge of death quite quickly! For the record, my favorite US player is...
Our crossing game was pathetic. Lots of opportunities... no execution. I love your statement about recovering from " the edge of death". That would be the name of a Soap Opera about soccer.
  • #9,414
  • Jun 26, 2010 4:46pm Jun 26, 2010 4:46pm
Come on no Wimbeldon fams out there. Andy Murray won his game tonight thru to the next round. Go Scotland!!
  • #9,415
  • Jun 27, 2010 11:11am Jun 27, 2010 11:11am
Jesus England looked horrible.
  • #9,416
  • Jun 27, 2010 11:12am Jun 27, 2010 11:12am
Keep your eyes and ears open for some kind of announcement out of the G-20 in the next few hours. They like to drop the communiques right before Asia opens the trading week.

Also, there could be no announcement. Just keep your eyes open, there could be a knee-jerk reaction.
  • #9,417
  • Jun 27, 2010 11:13am Jun 27, 2010 11:13am
Quoting Lou
Our crossing game was pathetic. Lots of opportunities... no execution. I love your statement about recovering from " the edge of death". That would be the name of a Soap Opera about soccer.
I know. It's horrible. If I were a ref - divers would get straight reds. And a kick in the nuts for good measure. Worst part of the game.
  • #9,418
  • Jun 27, 2010 11:16am Jun 27, 2010 11:16am
Quoting Maggioz
Come on no Wimbeldon fams out there. Andy Murray won his game tonight thru to the next round. Go Scotland!!
Not much of a fan myself, but did see the highlights of that ridiculous match that went on forever and ever.

They must have been wiped out. And I could not imagine what losing that felt like. Horrible I am sure.
  • #9,419
  • Jun 27, 2010 2:47pm Jun 27, 2010 2:47pm
Being a US fan, I love seeing Mexico get worked!
  • #9,420
  • Jun 27, 2010 2:48pm Jun 27, 2010 2:48pm
Quoting trade price
same old sh******** will happen.
everyone will blame refery and couch.
its like when traders lose money they blame broker or indicator.
I agree. They "lost" a goal, but to be honest - I think the result was fair, even if that one call wasn't. Just like yesterday, I can admit the US didn't deserve to win.
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