Pro Swing Trading

mmmm...not bad...not bad....

;-)

Updated my first post of this thread one week ago...

Federal Reserve officials believed in September the struggling recovery might soon need more help, and they discussed several ways to provide support, including the possible adoption of a price-level target.

Policy-makers had a "sense that (more) accommodation may be appropriate before long," the central bank said on Tuesday.

In minutes of the its last policy-setting session held September 21, the Fed said officials discussed several approaches to aiding the economy but focused on buying additional longer-term Treasury securities and ways to nudge the public into expecting higher levels of inflation in the future.

On Wall Street, stocks trimmed their losses, with both the Dow Jones industrial average .DJI and the Standard & Poor's 500 Index .SPX briefly turning higher after the FOMC's minutes came out.

To help shift inflation expectations, policy-makers debated providing more detailed information about what rates of inflation they would prefer, or the possibility of making clear they would tolerate a higher level of inflation on a temporary basis, a policy approach known as price-level targeting.

They also discussed the possibility of targeting a path for GDP growth.

The Fed has kept overnight interest rates near zero since December 2008 and has bought about $1.7 trillion in mortgage-linked securities and longer-term government debt to lower other borrowing costs to help the economy recover from the worst recession since the 1930s.

As the recovery showed signs of fading over the summer, sapped by the drying up of government stimulus measures and the shock of a sovereign debt crisis in Europe, Fed officials said they would consider additional stimulus measures to support the sluggish economy.

The September meeting's minutes showed a number of Fed officials were close to pulling the trigger.

"Many members considered the recent and anticipated progress toward meeting the committee's mandate of maximum employment and price stability to be unsatisfactory," the Fed said.

Several officials felt that unless conditions improved, they would consider it appropriate to take action soon in hopes of spurring a stronger recovery.

Morning,

After FOMC's statement released last night we had weak USD, already EUR/USD is behind a powerful resistance around 1.3980-1.4000, lets see how market deal with this wall.

Cheers
Nick

Hi,

As trading idea USD/CAD has long setup... also ben will talk again tonight

Morning,

World stocks hit a two year high on Thursday, touching levels not seen since September 2008 just after the collapse of Lehman Brothers.

Emerging market stocks led the way, touching levels not seen since June 2008.

MSCI's all-country world index .MIWD00000PUS, a leading benchmark used by professional investors, was up 0.8 percent in the day at around 319. This was the highest level since September 22, 2008.

The index was up around 0.8 percent on the day, some 85 percent above its financial crisis low in March 2009.

MSCI's emerging market benchmark .MSCIEF was up more than 1 percent on the day. It has risen 14 percent this year.

Great Call Again FXAdvice !!!

http://img.photobucket.com/albums/v4...defghijklm.jpg

What call? There was no entry on the last call was there?

i believed this call is related to the long UCAD call at 1.0000-1.0010 entry zone, in which an updated call was made mentioning that we can either remove order or hold only small lot as the price had not reach the entry zone and went to FTP.

I opened the trade but at lower risk when the price came back again to our entry zone, and hit our FTP. Im not sure nick will made this as an official result or not...

Our current EU long trade is looking good, hoping for the best for this trade!

OK, thanks Muks84. I never took tht EU entry as was fast asleep here in the uk. Oh well, cant get them all

Good luck

Aw. I missed Eurusd..I had it at 1.40000 Flat...missed the entry which would have been 1.40066

lol!!!
some brokers are just bandits!!!
the EU missed my entry by 3 pips.

however on my AU charts it reached .9993,
where as another trader i saw his broker hit 1.000 what the!!!!!

shits and giggles, good to see another good yeilding trade even if i have to sit on the sidelines....
i will catch the next one!
until next week yo all.
have a good weekend!!!!!!

it hit both targets, maybe because you were greedy for take entry

is a shame that my CAD trade I closed at 1.0055. Had one long LO 1.0011, but price never touch it falling till 012. I think need to be more violent with trades, spots are very strong.

EU been hit, but with very low risk entrance, only +1,1% total, because price reach only high entrance area, so second LO was not executed.



Thank you Nick! Keep it hot!

Hope next week will bring more!

European Central Bank President Jean-Claude Trichet said on Saturday more ambitious reforms of euro zone budget rules were needed than those proposed by the European Commission.

Trichet's comments add further fuel to a debate over European Union fiscal reforms ahead of a meeting of European finance ministers on Monday in Luxembourg to complete the biggest overhaul of the fiscal rules underpinning the euro since the single currency's creation in 1999.

The ministers will seek to agree on a report for EU leaders on how to make the rules tougher to prevent another sovereign debt crisis, such as that triggered by Greece.

"A number of the commission's proposals are going in the right direction, but for the euro area more ambitious reforms are needed to ensure the smooth functioning of monetary union," Trichet said at the World Policy Conference in Marrakesh, stressing comments made last week in Washington.

The commission presented last month a set of proposals to impose sanctions much earlier, and with less ministerial discretion, on euro zone countries breaking the Stability and Growth pact, the EU fiscal rulebook.

Trichet said all deadlines under the excessive deficit procedure should be "significantly reduced" and sanctions should be applied "quasi-automatically."

Furthermore, when economic indicators reveal fiscal problems, the countries concerned should be automatically submitted to an in-depth analysis including missions from the commission and the ECB.

An independent body of experts should be created to provide external assessments and the code of practice for European statistics should be enshrined in regulation.

Finally, member states should anchor the new surveillance framework in national legislation, he said.

REFORMS FOR GROWTH

Trichet said European countries needed to pursue structural reforms, even in the face of public resistance, in order to increase their growth potential.

"This potential for growth is too weak," he said.

With the euro zone appearing to be out of immediate danger of a full-blown sovereign debt crisis and some governments facing large protests against austerity cuts, resolve to toughen fiscal rules may be waning.

Trichet said the "positive but modest" underlying momentum of the recovery remained in place in the euro zone, but recent data confirmed expectations for a moderation in the second half.

Inflation would remain moderate in 2011, he said, and inflation expectations over the medium to longer term continued to be in line with the ECB's definition of price stability.

Hi all,

I hope you had great weekend and ready for new pips hunting

Cheers
Nick

hi,

As trading idea Loonie has short setup...

Yep and it shorted like a good un
Thanx once again and sry to jump the gun but euro worked lovely too!
Cheers Bud

+75 pips on gold signal eurusd
entry 1.3995
exit 1.3920

:-D