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  • #268,361
  • Jul 7, 2010 10:35am Jul 7, 2010 10:35am
I don't know if anyone's posted this yet; here's a link: http://www.reuters.com/article/idUSTRE66615D20100707

Also, this came from a Bloomberg terminal (a poster on another website):
EU STRESS TESTS SAID TO INCLUDE 17% HAIRCUT ON GREEK GOVT BONDS
EU STRESS TESTS MAY INCLUDE 3% HAIRCUT ON SPANISH GOVT BONDS
Those haircuts are way in the low range, but should give the markets confidence that bond impairment's being looked at. Bullish for the EUR.

Also, expect news to trickle out prior to the 23d, just as the Fed did here. The intention is to boost confidence in the European banking system.

Fundamentally, bullish EUR. The report will be pure cow dung but it's all about market confidence.
  • #268,362
  • Jul 7, 2010 10:44am Jul 7, 2010 10:44am
Quoting iflyjetzzz
I don't know if anyone's posted this yet; here's a link: http://www.reuters.com/article/idUSTRE66615D20100707

Also, this came from a Bloomberg terminal (a poster on another website):
EU STRESS TESTS SAID TO INCLUDE 17% HAIRCUT ON GREEK GOVT BONDS
EU STRESS TESTS MAY INCLUDE 3% HAIRCUT ON SPANISH GOVT BONDS
Those haircuts are way in the low range, but should give the markets confidence that bond impairment's being looked at. Bullish for the EUR.

Also, expect news to trickle out prior to the 23d, just as the Fed did here. The intention...
Yes - thank you. But later - and today - we will hear some details about methods and criteria about that upcoming "STRESS TESTS" of EU Banks. I have just read something about - but not clear when it will come. It was only been mentioned / said - that it will be later in todays sesssion...
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #268,363
  • Jul 7, 2010 10:44am Jul 7, 2010 10:44am
Quoting TraderFitz
Outstanding advice! Thank you. I was making it way to difficult on myself. I was taking from M5 - H4 into account and it was making my head spin. I will just look at the H4/H1 TFs. Once again thank you.
No problem man. We all do virtually the same thing when we first start out. The more that I do this though, the more that I truly prefer higher time frames. For example, the daily right now gives a heck of a lot more information than you could even imagine if you only looked at a 15-30- even 1HR chart. You will find yourself mysteriously getting more sleep and not "missing" so much "action". The fact is a lot of the "action" on 5M bars is pure noise. Nothing else. It wasn't some huge central bank/hedge fund buying and selling on a 30 second chart. Those guys wait for a specific price/zone and when it gets there on a daily timeframe...then they make a move. The CB's you have to keep in mind aren't necessarily trading for "profit", most of the time it's really just standard practice to pay bills or a couple day loan.
Welcome to the forum

Donnie
  • #268,364
  • Jul 7, 2010 10:45am Jul 7, 2010 10:45am
If anyone's interested, my analysis reveals probability to return to below 1.2400 with today's high already made.
  • #268,365
  • Jul 7, 2010 10:46am Jul 7, 2010 10:46am
Quoting iflyjetzzz
I don't know if anyone's posted this yet; here's a link:...

Yep, like I've said before, they will sift through a mountain of shit to find a few bright spots and ignore everything else. People will probably buy euros bases on this crap because they would rather buy on a few bright certainties than sell on speculation of all the shit that was left off.
  • #268,366
  • Jul 7, 2010 10:48am Jul 7, 2010 10:48am
I was stopped out for +45 on my short from 2650ish earlier this morning. I ended up shorting GU and GJ both are up 26 and 27 pips atm. Took GJ on that pivot point rejection, we've spend all day below and right as it was making an attempt GU was really running out of steam. We are also DIRECTLY..I believe to the pip tap of that GU chart daily that I posted with Gators lines last night so that helped my decision too...and here's a video from our old buddy Acumen.

Inserted Video
  • #268,367
  • Jul 7, 2010 10:50am Jul 7, 2010 10:50am
http://cdn.forexfactory.com/images/attach/pdf.gif


2010-07-07_WORLD FOREX - 17h29.pdf (14.1 KB)


Here it is - I just downloaded it from one of my news sections

"But investors hesitated to bid the euro much higher as they awaited details about upcoming stress tests of European banks, with the Committee of European Banking Supervisors expected to outline its methodology for the tests later in the session."


bibib
Attached File(s)
File Type: pdf 2010-07-07_WORLD FOREX - 17h29.pdf   14 KB | 296 downloads
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #268,368
  • Jul 7, 2010 10:51am Jul 7, 2010 10:51am
Quoting Atlast
If anyone's interested, my analysis reveals probability to return to below 1.2400 with today's high already made.
You might be right but I see strength in the S&P 500 and Dow so that tells me EU higher today at least untill things change.
  • #268,369
  • Jul 7, 2010 10:53am Jul 7, 2010 10:53am
Quoting baruch
good call

whats your strat?
Its a custom mixture, depending on what patterns i see.

Primarily:
Andrews Pitchforks
Price Action
Fibonacci Retracement
Custom modified indicators with some special setups and modifications

Secondary: (Stuff i rarely use but sometimes look at)
PSAR
EMA/SMA
MACD
Stochastics
  • #268,370
  • Jul 7, 2010 10:54am Jul 7, 2010 10:54am
Quoting SunTrader
You might be right but I see strength in the S&P 500 and Dow so that tells me EU higher today at least untill things change.
might be double top on 5M
  • #268,371
  • Jul 7, 2010 10:55am Jul 7, 2010 10:55am
Quoting Orbital
Short from 2627 with 3 lots TP: 2580
Closed trade at 2592 because of Pivot point and because 3 lots just made me a lot of money. Greed is my friend but in this case it will be my enemy
  • #268,372
  • Jul 7, 2010 10:57am Jul 7, 2010 10:57am
Quoting SunTrader
You might be right but I see strength in the S&P 500 and Dow so that tells me EU higher today at least untill things change.

Lot of fund managers are saying they are selling into strengths. Saw a big selloff yesterday afternoon, might see another one today. But then again seems lately when US markets are down people sell dollars out of US economic worries. Who knows...
  • #268,373
  • Jul 7, 2010 10:58am Jul 7, 2010 10:58am
Quoting Orbital
Closed trade at 2592 because of Pivot point and because 3 lots just made me a lot of money. Greed is my friend but in this case it will be my enemy
nice trade man
  • #268,374
  • Jul 7, 2010 10:58am Jul 7, 2010 10:58am
Quoting Orbital
Short from 2627 with 3 lots TP: 2580
your Limit has been reached. good happy trading
  • #268,375
  • Jul 7, 2010 11:04am Jul 7, 2010 11:04am
Quoting Sontoloyo
your Limit has been reached. good happy trading
Should I go long here. rebound on 1.2585, !H candle opened green and MA not very usefull now.
  • #268,376
  • Jul 7, 2010 11:04am Jul 7, 2010 11:04am
Long 1.2585, SL 1.2575, TP 1.2660 (Yesterday's High)

5th wave uptrend, bouncing from EMA89

Hope it works.
  • #268,377
  • Jul 7, 2010 11:05am Jul 7, 2010 11:05am
Quoting uraceulose
nice trade man
Thank you very much

I know i havent posted a lot of charts lately because well.. lets admit it most people dont appreciate them anyways but in case some of you were wondering what the basis for that trade was here are the two pitchforks.

You could clearly see it hitting both the median line for the upfork and the UML for the upfork. Both forks seem to be equally in control so its a sideway channel for now and pretty much has been for the entire day except for the breakout occuring during tokyo when i was asleep.

It was a pretty decent risk reward ratio and math was in my favour so yeah that was the rational for entering the trade.

http://img215.imageshack.us/img215/2...actory1.th.jpg
  • #268,378
  • Jul 7, 2010 11:15am Jul 7, 2010 11:15am
Quoting Atlast
If anyone's interested, my analysis reveals probability to return to below 1.2400 with today's high already made.
I agree, and I think it goes to 1,23 by friday;
Euro will fall against the Dollar and others currencies
The main reason for the Euro's weakness will be the Minimum Bid Rate which is the European Central Bank, Interest Rates announcement for July.
Many nations within the Euro-Zone, the ECB isn't likely to hike rates, and most analysts predict that European interest rates will remain at 1.00%.
If the ECB will indeed leave rates at 1.00% , the Euro might weaken further against the major currencies.
  • #268,379
  • Jul 7, 2010 11:15am Jul 7, 2010 11:15am
Short 3 contracts at average price 1.2596; SL 1.2675. I trade price action solely and the last hour candle with the bearish engulfing on the 1hr begs to be short especially with all of the bullish sentiment only time will tell if this is observation is correct. Goodluck to all.
  • #268,380
  • Jul 7, 2010 11:17am Jul 7, 2010 11:17am
but problem is iam still holding this trade man ..Any Advice where to close it i was hoping fat new low...
Quoting Orbital
Thank you very much

I know i havent posted a lot of charts lately because well.. lets admit it most people dont appreciate them anyways but in case some of you were wondering what the basis for that trade was here are the two pitchforks.

You could clearly see it hitting both the median line for the upfork and the UML for the upfork. Both forks seem to be equally in control so its a sideway channel for now and pretty much has been for the entire day except for the breakout occuring during tokyo when i was asleep.

It was a pretty decent...
We cannot direct the winds but we can adjust our sail.
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