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  • #316,221
  • Oct 29, 2010 7:41am Oct 29, 2010 7:41am
Interesting point of view but rather simplistic. GDP #s were bad at best especially before a key election and FED QE2 announcement. If you put it in perspective this "short term" shoot up on the euro is more than obvious not only from a TA perspective but also from a fundamental perspective. News has been awful for the US but also add pressure on the QE2 that's why most of the news have make the euro (and all other crosses) rally.

sisse


Quoting seanosms
I have come to the conslusion lately that prior to any announcement regarding the USD all you need to do is BUY Eur/USD as 99% of news enables the Euro to shoot up.

Doesnt matter good or bad news from US as long as there is news the Euro goes up.
On Euro news dont do anything as it is unpredictable but any USD news is good for 25 pips minimum. Today is a prime example.
Pending conversations? PM for a chat...I am mainly in OTM now
  • #316,222
  • Oct 29, 2010 7:41am Oct 29, 2010 7:41am
Its official...price action is so fucked up on friday...it respects nothing...pattern, support or resistance...lol
COT: The precious data ignored
  • #316,223
  • Oct 29, 2010 7:43am Oct 29, 2010 7:43am
Quoting seanosms
I have come to the conslusion lately that prior to any announcement regarding the USD all you need to do is BUY Eur/USD as 99% of news enables the Euro to shoot up.

Doesnt matter good or bad news from US as long as there is news the Euro goes up.
On Euro news dont do anything as it is unpredictable but any USD news is good for 25 pips minimum. Today is a prime example.
Guess what, news are mainly played along the trend. If news outcome is against prevailing trend, the counter-trend effect will happen after the initial move.

Keep statistics and you will see it works.
They think they are smarter than I am.
  • #316,224
  • Oct 29, 2010 7:43am Oct 29, 2010 7:43am
Quoting kuroro001
Its official...price action is so fucked up on friday...it respects nothing...pattern, support or resistance...lol
I dont know about that I used a H,L,LH pattern on the 5 M to get in long before the news was released.

P.S. cmon smash through 3900 EU, I wanna start the weekend with a bang!!!
  • #316,225
  • Oct 29, 2010 7:45am Oct 29, 2010 7:45am
Quoting kuroro001
Its official...price action is so fucked up on friday...it respects nothing...pattern, support or resistance...lol
Exactly...Friday is a profit taking day for big boys.
  • #316,226
  • Oct 29, 2010 7:46am Oct 29, 2010 7:46am
sad that i closed my long would be a nice profit...

got to start doing that- moving sl at be ..
  • #316,227
  • Oct 29, 2010 7:48am Oct 29, 2010 7:48am
any one thinking 1.44 - 1.45 ?

this is not the action that promises a break to the down side
i am 70% on on the bull camp .

waiting one more good break of 1.4 and i think it might be another rally but not as strong as earlier .

that's long term talking here
I SEE YOU !!
  • #316,228
  • Oct 29, 2010 7:48am Oct 29, 2010 7:48am
Quoting T@rantula
Exactly...Friday is a profit taking day for big boys.
so, then range trading gets a completely new dimension... if in uptrend, look where it starts on monday, as it will be above that level on friday for the big dog's positions need to be in profit...
  • #316,229
  • Oct 29, 2010 7:49am Oct 29, 2010 7:49am
Quoting dbfusion
any one thinking 1.44 - 1.45 ?

this is not the action that promises a break to the down side
i am 70% on on the bull camp .

waiting one more good break of 1.4 and i think it might be another rally but not as strong as earlier .
Need a retest and a break of 4165 for new highs.
  • #316,230
  • Oct 29, 2010 7:51am Oct 29, 2010 7:51am
918 last before 950 defence for bears... if this goes will climb higher.
  • #316,231
  • Oct 29, 2010 7:51am Oct 29, 2010 7:51am
Good day folks hope everybody ok with this jumps........
wow talk about volatility this morning ah.......
good scalping for sardines...........
The Chonchy
  • #316,232
  • Oct 29, 2010 7:51am Oct 29, 2010 7:51am
3952 gives me a weekly doji....
Look Sharp/Trade Tight
  • #316,233
  • Oct 29, 2010 7:52am Oct 29, 2010 7:52am
5mn PA is just to ugly...none of the upside candle can close above the previous candle high....for now.

But since it respects nothing, who knows what will happen
COT: The precious data ignored
  • #316,234
  • Oct 29, 2010 7:52am Oct 29, 2010 7:52am
Quoting T@rantula
Need a retest and a break of 4165 for new highs.

Attached Image (click to enlarge)
Click to Enlarge Name: friday.jpg Size: 59 KB


T@rantula know's best to trade on friday..........
The Chonchy
  • #316,235
  • Oct 29, 2010 7:52am Oct 29, 2010 7:52am
Quoting Mr Hatch
so, then range trading gets a completely new dimension... if in uptrend, look where it starts on monday, as it will be above that level on friday for the big dog's positions need to be in profit...
They dont want to be prone to some probing or any unexpected news release during weekends. The amount of capital involved is so huge so when they close positions market makers can turn whatever they want to. There is no market to defend it.

During Friday markets tend to prepare for the next week. Thats why Monday is usually indecisive. Tuesday and Wednesday are pretty good.
  • #316,236
  • Oct 29, 2010 7:53am Oct 29, 2010 7:53am
Dollar index watch!!!


http://www.screencast.com/users/Ingm...1-34852346f54c
  • #316,237
  • Oct 29, 2010 7:53am Oct 29, 2010 7:53am
It would be nice to hit 1.4079 100% retracement. looks like that could possibly call for double top if it breaks through the 1.400x downtrend channel
Know when to hold em, Know when to fold em!
  • #316,238
  • Oct 29, 2010 7:54am Oct 29, 2010 7:54am
Quoting dbfusion
any one thinking 1.44 - 1.45 ?

this is not the action that promises a break to the down side
i am 70% on on the bull camp .

waiting one more good break of 1.4 and i think it might be another rally but not as strong as earlier .

that's long term talking here

1.4000 is a strong resistance: it must also regain and maintain
Only then long, imho
  • #316,239
  • Oct 29, 2010 7:54am Oct 29, 2010 7:54am
Quoting chonchy
Attachment
Garfield lol. Long time no see that lazy cat )
  • #316,240
  • Oct 29, 2010 7:54am Oct 29, 2010 7:54am
if 3910/12 goes they will look for 3942/44, support now 3892/94....
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 18 KB
Look Sharp/Trade Tight
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