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  • #316,321
  • Oct 29, 2010 9:34am Oct 29, 2010 9:34am
Quoting Merry
I guess U meant 1.3750 !

it is no where in the big picture
  • #316,322
  • Oct 29, 2010 9:37am Oct 29, 2010 9:37am
Quoting KumoDragon
Nope, I meant .3950 I'm long from the last dip.

It's Up to U !

No1 is responsible 4 ur losses...

  • #316,323
  • Oct 29, 2010 9:37am Oct 29, 2010 9:37am
We could see very big Gap on Sunday so take care all
  • #316,324
  • Oct 29, 2010 9:37am Oct 29, 2010 9:37am
Quoting goods
Stopped out at 35 pips, up +50 for the day. Yes this should be used as confluence with your price action trading style
My trades at BE from .38952 I'm gonna hold and see if Emperor EUR/USD gives me a thumbs up or down in the gladitorial pit today.
  • #316,325
  • Oct 29, 2010 9:38am Oct 29, 2010 9:38am
Quoting Merry
It's Up to U !

No1 is responsible 4 ur losses...

HUH? Who said anyone was?

P.S. if you meant because you are of the opinion that it is going to short to that price from here maybe, but I'm at BE anyway so no skin off my back. I hope thats your opinion because yesterday when you had a similiar strong opinion you were badly wrong and it worked out in my favor that time.

P.P.S. I see that most consistently losing traders try to predict price movement instead of react to it.
  • #316,326
  • Oct 29, 2010 9:39am Oct 29, 2010 9:39am
Quoting egkid
We could see very big Gap on Sunday so take care all
why do u think so?
  • #316,327
  • Oct 29, 2010 9:39am Oct 29, 2010 9:39am
Quoting KumoDragon
My trades at BE from .38952 I'm gonna hold and see if Emperor EUR/USD gives me a thumbs up or down in the gladitorial pit today.
Cool gl I am just taking profit and buying the dips. I am waiting for pullback here.

There is an uptrend line being respected if you draw it on the 1 and 5 min chart you will see
Know when to hold em, Know when to fold em!
  • #316,328
  • Oct 29, 2010 9:40am Oct 29, 2010 9:40am
price action is complex on m15 struggling to meet daily resistance
  • #316,329
  • Oct 29, 2010 9:46am Oct 29, 2010 9:46am
Quoting alter
why do u think so?
Everything is possible now , don't u see how PA act in last 2 weeks and end of month and 3 rd November FED News

Any trader should b very very careful all the next week ,Chances will never end there is always better chances than involve in market war next week.
I closed half of my positions lock profit and the rest SL@ BE
  • #316,330
  • Oct 29, 2010 9:48am Oct 29, 2010 9:48am
Quoting goods
Cool gl I am just taking profit and buying the dips. I am waiting for pullback here.

There is an uptrend line being respected if you draw it on the 1 and 5 min chart you will see
Ya I saw that. I wouldn't be surprised if it hit just below it and then continued upward.

Being friday though, I'm not going to chance putting my SL behind the 5 M trendline.
  • #316,331
  • Oct 29, 2010 9:51am Oct 29, 2010 9:51am
I am trading 15 min chart but looking for turning points on the 1 and 5 based on a few things.

2 big candles up 3 candles down, 2 big candles up 3 candles down (15 min chart). Pattern
Know when to hold em, Know when to fold em!
  • #316,332
  • Oct 29, 2010 9:58am Oct 29, 2010 9:58am
Rarely.

fading is attempting to predict when the market will turn in the opposite direction of the trend.

it's a suckers game most of the time.

however... if you must then take a look at the attached pic.

someone big drew a line in the sand at .3940... probably protecting their .4 options but who know and who cares.

what we can see on the pic is that the line was drawn and tested in the NY session.

It's holding so far.

Price has moved back to the Pivot.
Attached Image (click to enlarge)
Click to Enlarge Name: fading.png Size: 50 KB
  • #316,333
  • Oct 29, 2010 10:07am Oct 29, 2010 10:07am
Quoting goods
There is an uptrend line being respected if you draw it on the 1 and 5 min chart you will see
it bounces off 200EMA on M1, M5 & M15 atm
:-anything
  • #316,334
  • Oct 29, 2010 10:11am Oct 29, 2010 10:11am
Quoting thorr
hi,
can someone help me to understand the purpose of QE?
i understand that the point is to increase inflation and convince people to buy more and company to hire more.
but how higher prices can convince anyone to increase spending?

thanks in advace
I think your logic is flawed here :-)

The answer is not easy and I have not much time right now. But I will give you a few points to ponder about:

a) if FED "prints" money (what they do not do, they buy IOU's; there might be no difference at first sight, but there is a huge difference: these IOU's are the FED assets, and FED does not want to back up notes with worthless assets) to stimulate markets, then we can expect to get an increase in production etc. The supply side will soar. When supply soars, prices will plunge.

b) take a) to money markets: FED can not control both asset prices and interest rates. Maybe for a short time. But not very long.

Conclusion of a) and b): Markets will restore equilibrium


Quantitative easing was, out of my sight, designed to refinance the whole broken finance system. Banks are more or less bankrupt. To keep the whole hoax alive (keynesianism) banks must be able to lend out money. And they lend out every money out of deposits, and there loans were increasingly non performing. And the could not lend money, because they were already under water, too. So they got the money from governments.

This would only then cause inflation, when this money is brought to the consumers. When this money gets apparent in the whole system. When consumers can spent it.

But banks did not lend this money to consumers nor to companys. Why not?

3 sides (of many):

a) social mood is very bad. People do not want to borrow more money
b) many people or companys are broke, too. And so are unable to borrow more money.
c) Banks do not want to increase their debt-risk/exposure. So they took the money to the stock exchanges and drove the price up (prop trading)

One of the main points of QE is to prevent deflation. Because inflation is measured in M2 + debt.

And we have seen a lot of debt imploding. With a monetary base of 2 Trillion (two years ago) and debt between 50 and 200 trillion, it is very clear, that you have to take more care about deflation rather than inflation.


Hope that helps.

Try this links (very important readings):

<http://www.safehaven.com/article/14404/the-elements-of-deflation>

http://www.investorsinsight.com/blog...on-part-2.aspx

http://www.investorsinsight.com/blog...e-in-fdic.aspx

Have a nice weekend,

Markus
  • #316,335
  • Oct 29, 2010 10:25am Oct 29, 2010 10:25am
Quoting Naish
Hi Markus,

the second count possibility is of course wave 5 UP, but this move up and down was not 5 wave structure and the correction was exact on point 218 up means we should touch the triangle line near 1.4025 (likely monday) and if it's a third wave of 5 then the 1.618x measure targets 1.4158.
I am living in Barcelona - Venezuela last 1,5 years, nice place to live, water is all year over 25°C clean, food perfect, nice girls, perfect conditions for not just water-sports! Europe was to could for me
Hi,

nice to see one more with a sense for Elliott Wave :-)

Yes, I think we can discard the wave 5 up. It looks impulsive, but structure is clearly corrective. But hey, maybe we get an ending diagonal which is 3-3-3-3-3

At this point we have way too much options to make a really educated guess. We are since weeks now in a completely corrective mess. I am feeling happy, when I am right for a few hours LOL

Venezuela - very nice.

So enjoy your time.

Greetings to "Nueva Barcelona del Cerro Santo",

Markus
  • #316,336
  • Oct 29, 2010 10:33am Oct 29, 2010 10:33am
crazy market today!!!.
Prices are never too high to begin buying or too low to begin selling.
  • #316,337
  • Oct 29, 2010 10:38am Oct 29, 2010 10:38am
Quoting KumoDragon
P.P.S. I see that most consistently losing traders try to predict price movement instead of react to it.
Still possible to predict correctly though.
  • #316,338
  • Oct 29, 2010 10:38am Oct 29, 2010 10:38am
Quoting infinitus
I think your logic is flawed here :-)

The answer is not easy and I have not much time right now. But I will give you a few points to ponder about:

a) if FED "prints" money (what they do not do, they buy IOU's; there might be no difference at first sight, but there is a huge difference: these IOU's are the FED assets, and FED does not want to back up notes with worthless assets) to stimulate markets, then we can expect to get an increase in production etc. The supply side will soar. When supply soars, prices will plunge.
need to do some reading
i very much appreciate your help in that
so the FEd will make some decisions but its a matter of market ( companies/banks/people) to use it, if not whole this QE will not work again

have a nice weekend
  • #316,339
  • Oct 29, 2010 10:39am Oct 29, 2010 10:39am
Quoting Pipmysterio
crazy market today!!!.
It's always crazy man!
  • #316,340
  • Oct 29, 2010 10:39am Oct 29, 2010 10:39am
1,3900 was such a beautiful short...for 1,3800
Oh well i forgot we are freaky friday....
COT: The precious data ignored
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