Pro Swing Trading

Hi,
I hope to have great weekend in front and better hunting for next week.

Cheers
Nick

Nick, Same here

like your last call nick

This chart clearly shows the pros intent for next week

They rapidly marked eu down thru support today , locking in traders that would otherwise have bought against them

yes also we had bad luck about Long on A/U never trigger within period that expected

trade triggered nick ... you better be right on this one
(this is something Nick and i have been tracking on skype this week)

Regional German governments and politicians from Chancellor Angela Merkel's coalition parties are joining protests against planned austerity measures, media reported on Saturday.

A day after German industry launched a concerted attack on Merkel over her proposal for a tax on nuclear power providers, Der Spiegel said that regional governments were planning a joint protest against cuts in funding for urban development.

Construction ministers from states governed by Merkel's conservatives as well as those led by the opposition Social Democrats aim to resist cuts worth 2.4 billion euros ($3.1 billion), the weekly news magazine said.

These measures would lead to a halt in investment and threaten jobs and tax revenues, the magazine cited a working paper of the ministers as saying.

Merkel's center-right government has agreed a four-year, 80 billion euro austerity plan to slash the budget deficit.

This push has drawn criticism from politicians at home and from some of Germany's euro zone partners, who say it is unwise to withdraw fiscal stimulus from an economy still recovering from its deepest post-war recession.

Although support for the budget cuts has plunged in recent weeks, the government is sticking to its guns and plans to lay out details on implementation at the start of September.

Energy policy is a particular area of contention at a time that the cabinet is also preparing to unveil its long-term energy plans.

Industry bosses and members of Merkel's own Christian Democrats (CDU) urged her in an open letter on Friday to drop her plan to tax nuclear power providers, saying it would put Germany's future at risk.

Michael Fuchs, a deputy head of the CDU in the lower house of parliament, has also urged the government not to pursue its plan to reduce tax breaks for large corporate energy consumers.

"We cannot push energy-intensive companies away from this country with the environmental tax," he told Der Spiegel.

TAX RELIEF?

Germany's robust recovery also has prompted the pro-business Free Democrats (FDP), junior coalition partners in Merkel's center-right government, to reiterate calls for tax relief for middle-income earners.

"We can get rid of the solidarity tax (for investment in former East Germany) and relieve citizens by 12 billion euros without threatening the consolidation of state finances," FDP finance expert Frank Schaeffler was cited as saying in Wirtschaftswoche magazine on Saturday.

The German economy grew at the fastest rate since reunification in the second quarter as companies stepped up investment and exports surged.

The FDP had campaigned on a ticket of tax relief, yet Merkel put aside the idea during the euro zone debt crisis and has said she still sees no scope for tax cuts over the next two years.

Finance Minister Wolfgang Schaeuble has also made it clear that consolidation remains the fiscal priority and on Saturday also lowered hopes for a broad simplification of the tax system.

Morning,

I hope you had great weekend, already market has low volume so i will waiting for NY session to see what market will bring to us.

Possible target for long story...

market congestion ahead of us housing news tomorrow NICK .. daily is still down and we are only 20 pip pff a major supportl ine on daily . I do not see much buying interest yet

Ok then no choice i will open 1000000 lots Long position

Stock index futures were lower on Tuesday and tracked global equities as investors prepared for data expected to show further weakness in the U.S. housing market.

July existing home sales is scheduled to be released at 10 a.m. Wall Street expects sales at an annualized rate of 4.7 million, according to Thomson Reuters data, a decline from the 5.37 million units posted in June. Improvement in the housing market is seen as key for economic recovery.

Long on E/U happened as i expected... lets see if it will reach to my target or not

heavy vol at 1.2700 stopped her dead for now .

Looking for any sell opps 1.2700 to 1.2750

yeah around 1.2750 is so good for new short wave

Central bankers from around the world will assess a darkening economic outlook at their annual U.S. mountain retreat this week with discussion of printing yet more money to spur growth on the agenda.

Federal Reserve Chairman Ben Bernanke is likely to signal his views about the uncertain prospects for the world's biggest economy but he probably won't give many clues on whether the U.S. central bank will pump more cash to keep the recovery going.

Other top central bankers will arrive in the Jackson Hole resort with concerns, too.

European Central Bank President Jean-Claude Trichet faces his own challenge of a two-tier recovery.

While the euro zone economy as a whole has strengthened thanks to strong German growth, the ECB looks set to keep providing banks with unlimited funds at a fixed rate to help banks and governments in Europe's troubled periphery.

Bank of England and the Bank of Japan officials will come to the Teton mountains likely to talk about how they might have to push more money into their economies to stimulate growth, a last resort when benchmark interest rates approach zero.

"It's not just the U.S. that stalled in June and July, it's the world economy that hit a wall over the summer months," said Ellen Zentner, a U.S. economist for Bank of Tokyo-Mitsubishi UFJ in New York.

The likely mood of concern among the central bankers heading for the wilds of Wyoming contrasts with the optimism of a year ago, when debate at Jackson Hole centered on ways to wean economies off emergency support as they emerged from recession.

The discussions give the world's top central bankers a chance to thrash out the major challenges of the moment as well as hike on trails in the scenic national park.

Past roundups have come at economic turning points: the start of the credit crisis in 2007, the days before Lehman collapsed in 2008 and before the start of the recovery in 2009.

Chicago Federal Reserve Bank President Charles Evans said Tuesday that the risks of a double-dip U.S. recession have risen in the last six months. While he added he did not think that was the most likely scenario, he said high unemployment and a fractured housing sector would make the recovery a fragile one.

EYES ON BERNANKE

Bernanke's speech Friday will be a keystone of the three-day conference, which has chosen as its theme the challenges of the next decade. His audience will be listening keenly for clues about shorter-term support for the economy.

The Fed said on August 10 it would buy Treasury bonds with proceeds of maturing securities in its massive portfolio. It had been letting its balance sheet shrink naturally, effectively removing some of its huge stimulus.

"This wasn't the right time to send a signal that we would be allowing a tightening to take place as these securities rolled off our balance sheet," Dallas Fed President Richard Fisher told Fox Business Network Tuesday.

The big question now is whether the Federal Reserve will start buying Treasury bonds more aggressively again to provide the U.S. economy with a new injection of cash.

The Wall Street Journal said Tuesday that more senior Fed officials than previously thought voiced concerns about or objections to the relatively modest move to use mortgage debt maturities to buy Treasuries at the August 10 meeting.

The reported split within the central bank's upper echelons suggested the Fed could stand pat after rebalancing its balance sheet and set a high bar for any further asset purchases.

"Under these circumstances, it would be premature for Chairman Bernanke to provide a set of guideposts for future policy moves, as helpful as that would be for the markets and as much as we believe that additional easing will ultimately be needed," analysts at Goldman Sachs said in a note Tuesday.

Market has crazy PA no trade is the best

Hi,

After a sideway market E/U finally goes to our short zone... lets see what is the next action

Good work bro. Awesome thread

Thanks for your reply and support my thread.

really ugly price action last 2 days.

1.5500holding in gu for now with upper range 1.5580