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  • #289,821
  • Sep 7, 2010 3:28pm Sep 7, 2010 3:28pm
Quoting mfoste1
yea they're having some technical problems atm. I talked to Sean and he said they're hoping it is fixed by tomorrow.

thank's
  • #289,822
  • Sep 7, 2010 3:33pm Sep 7, 2010 3:33pm
Quoting Jhig
Other than Erin Burnett being upset, both guest did bring up some great points about USD/world reserve

http://www.youtube.com/watch?v=DNv0A...layer_embedded
Should US government debt be rated junk?


......
The result of the actions in Europe are that, in theory, future deficits should shrink and debt balances eventually decline. In contrast, under our current course, U.S. deficits will expand for decades.
So, should U.S. government debt be downgraded to junk status? If we simply look at the ratios and the future outlook, the answer is quite obvious. http://i.cdn.turner.com/money/images/bug.gif

http://money.cnn.com/2010/09/02/news...tune/index.htm
  • #289,823
  • Sep 7, 2010 3:34pm Sep 7, 2010 3:34pm
Don't get me wrong but I always reply to post about "trading myths". As you know the last 3 months they haven't been that slow. In term of true range and volatility, only May 2010 panic bar excedded the last few monthly ranges. Since Jan 2009 only a couple of bars have exceed the last "slow summer months".

In any case, from a TA point of view the current scenario looks a lot similar to the last weeks of march 2010. However, fundamentals are very different.

Good luck in your trading

sisse

Quoting Jhig
Slow summer months are over.

We are in the 3 month home stretch and it can get a bit bumpy and volatile. Everyone needs to make that year end bonus/xmas money/money to take an extended holiday break.
Pending conversations? PM for a chat...I am mainly in OTM now
  • #289,824
  • Sep 7, 2010 3:36pm Sep 7, 2010 3:36pm
Quoting mokonni
Should US government debt be rated junk?


......
The result of the actions in Europe are that, in theory, future deficits should shrink and debt balances eventually decline. In contrast, under our current course, U.S. deficits will expand for decades.
So, should U.S. government debt be downgraded to junk status? If we simply look at the ratios and the future outlook, the answer is quite obvious. http://i.cdn.turner.com/money/images/bug.gif...
Personally I am least bothered whether its called JUNK or whatever! I am only concerned about my Trades At The Moment!!! LOL
  • #289,825
  • Sep 7, 2010 3:49pm Sep 7, 2010 3:49pm
Quoting juandiegov
Do you think the PA will go to the August low around 1,2586? I think 1,26 is a strong line... i have my doubts
I really dont know, but i think at least 1.2640 and then 1.2600 is within reach.

After this hour and (seems it already started while writing) even though volumes are thin, pair could slide downwards before Asia, volumes distribution is handsomely negative and increasing so no point to go long unless strong support met.
They think they are smarter than I am.
  • #289,826
  • Sep 7, 2010 3:54pm Sep 7, 2010 3:54pm
Quoting Tkb
On a daily chart, current price action is almost a mirror image from the top all the way down to where we are now vs. all the way back to March 2009.

It's just tilting towards the right a bit, in a bearish kind of way.

Final hurrah to 1.371x or heading straight for 1.2000?

Long term....

To 1.2125 Then to 1.1372
PPP - Patience Pays PIPS
  • #289,827
  • Sep 7, 2010 4:03pm Sep 7, 2010 4:03pm
I'm looking to go long based on trend line support.
Attached Image (click to enlarge)
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  • #289,828
  • Sep 7, 2010 4:09pm Sep 7, 2010 4:09pm
I think it will test 1.2600 line again before going up.
  • #289,829
  • Sep 7, 2010 4:11pm Sep 7, 2010 4:11pm
Quoting ssherwood76
I'm looking to go long based on trend line support.

If you enter long at that price point, make sure you are looking for a short move up.

BTW , you are not suppose to draw a trendline like that, trendlines are suppose to connect lows of a trend, in this case it is not...

If you move to 240, you can see a trend line over there, starting from 1.2587 and connecting 1.2625 and if you extend it, you will see it comming around 1.2675, which is where we are expecting a bounce....
PPP - Patience Pays PIPS
  • #289,830
  • Sep 7, 2010 4:20pm Sep 7, 2010 4:20pm
I think that trendline is properly drawn if that chart were a clean chart without indicators. There is a fast chage from LL to LH in that chart that validate that line...the problem is that very fast swing LL to LH reversal didnt occur with a real chart so the HA indicator in this case, instead of hiding info is showing info that from a striclty TA point of view never happened .... but as you know trendlines are on the eyes of the beholder so ...

sisse

Quoting rustyram
If you enter long at that price point, make sure you are looking for a short move up.

BTW , you are not suppose to draw a trendline like that, trendlines are suppose to connect lows of a trend, in this case it is not...

If you move to 240, you can see a trend line over there, starting from 1.2587 and connecting 1.2625 and if you extend it, you will see it comming around 1.2675, which is where we are expecting a bounce....
Pending conversations? PM for a chat...I am mainly in OTM now
  • #289,831
  • Sep 7, 2010 4:21pm Sep 7, 2010 4:21pm
Connecting the June 6 low to Aug 30 low would project a bounce to right about where price is now based on the daily.
  • #289,832
  • Sep 7, 2010 4:30pm Sep 7, 2010 4:30pm
Thats exactly the point the prev poster and me are saying from a different perspective. Those lows are completly unrelated. If you go below daily nothing connect those points (completly random lows ... you can connect any lows for that case) and if you go above daily there is no reason to connect those two lows.

But as I said before, trendline and chart trading in that sense is so subjective that if thats the way you draw trendlines and it works for you ... it works regardless of what everybody else say.

Good luck in your trading.

sisse
Quoting ssherwood76
Connecting the June 6 low to Aug 30 low would project a bounce to right about where price is now based on the daily.
Pending conversations? PM for a chat...I am mainly in OTM now
  • #289,833
  • Sep 7, 2010 4:31pm Sep 7, 2010 4:31pm
usd index just break up the upper trend line!

I think eurousd will be more downs!!!
  • #289,834
  • Sep 7, 2010 4:32pm Sep 7, 2010 4:32pm
Quoting ssherwood76
Connecting the June 6 low to Aug 30 low would project a bounce to right about where price is now based on the daily.

You cannot connect june 6th low to Aug 24 th low on a daily chart.

You can do that only when it makes a new high, which is higher than the previous high which is at 1.3333 on Aug 6th. Then you can connect both the lows with a trendline.
PPP - Patience Pays PIPS
  • #289,835
  • Sep 7, 2010 4:47pm Sep 7, 2010 4:47pm
heres my tl
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those who can, do. those who cant, talk about those who can
  • #289,836
  • Sep 7, 2010 4:48pm Sep 7, 2010 4:48pm
i expect, that during the asian session the euro should rise a little bit - than, with the beginning of the european session there should be some weakness.

Lets see what happens
Pecunia non olet
  • #289,837
  • Sep 7, 2010 4:50pm Sep 7, 2010 4:50pm
1,2675 is the turn point!! if its breaks more down camings!
  • #289,838
  • Sep 7, 2010 4:54pm Sep 7, 2010 4:54pm
Quoting Zink
1,2675 is the turn point!! if its breaks more down camings!

It really doesn't look like its gonna bounce..
  • #289,839
  • Sep 7, 2010 4:56pm Sep 7, 2010 4:56pm
Do agree with you. We are reaching the limit for any longs. Below that will mean that we'll enter to European Debt Crisis Part III and today's sellers were a little bit more than short term speculators playing with the very bad European Bank news today.

sisse

Quoting Zink
1,2675 is the turn point!! if its breaks more down camings!
Pending conversations? PM for a chat...I am mainly in OTM now
  • #289,840
  • Sep 7, 2010 5:00pm Sep 7, 2010 5:00pm
Quoting CaveatEmptor
It really doesn't look like its gonna bounce..
sure it will a little at the levels in the chart. then it will after target at 2620 st after slip takes it to 2612.7 we bounce to 2645... we will re-figure it then
those who can, do. those who cant, talk about those who can
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