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  • #328,961
  • Nov 19, 2010 12:10am Nov 19, 2010 12:10am
Quoting wormboy
H1 bullish pennant now valid. 3785 is likely the next target. Good luck.
If go there then even go 3811 to 3966 ended 5th of 1 & go there for 2nd , crazy friday perhaps today , lets if go above 3719/33 last tolerance level .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #328,962
  • Nov 19, 2010 12:20am Nov 19, 2010 12:20am
The European Central Bank (ECB) has issued a clear warning that it will press ahead with plans to raise interest rates and withdraw lending support for banks despite the eurozone debt crisis, even if this risks pushing Ireland, Portugal and Spain into deeper trouble.

http://i.telegraph.co.uk/telegraph/m...t_1765864c.jpg European Central Bank President Jean Claude Trichet warned Ireland not to depend on long-term support from Europe Photo: Reuters






By Ambrose Evans-Pritchard 10:08PM GMT 18 Nov 2010 Comments


“The central bank must guard against the danger that the necessary measures in a crisis period evolve into a dependency as conditions normalise,” said Jean-Claude Trichet, the ECB’s president.

Luxembourg’s ECB governor, Yves Mersch, echoed the warnings, saying the bank could not continue “cleaning up” in crises. “If rates are low for too long, this leads to a higher risk appetite. We will pay the price if we fail to confront these inevitable dangers,” he said.

More than 98pc of Spanish mortgages are priced off the floating Euribor rate. Any ECB rate rise would be devastating given that there is already a glut of 1.5m homes coming on to the market, according to consultants RR de Acuna.

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The ECB warnings came as a troika of officials from the ECB, the Commission, and the International Monetary Fund began a fact-finding mission in Dublin, examining books to determine whether Ireland is strong enough prop up its banking system.
Finance minister Brian Lenihan admitted that Dublin was considering “substantial contingency capital” to boost banks, but denied that this would burden the Irish state.
Dublin insists that there is no threat to Ireland’s 12.5pc corporation tax rate but Mary Lou McDonald from Sinn Féin said the country was essentially under foreign occupation. “Officials from the EU and IMF and any other vultures circling around this country should be told to get lost.”
Central bank governor Patrick Honohan said a rescue would amount to “tens of billions”. The Irish state is funded until June but this is proving no defence against a run on the banking system.
The euro recovered against the dollar and Europe’s bourses rallied on hopes that the Irish crisis has been contained, but Fitch Ratings said there was still “considerable uncertainty” about the fate of Irish bank debt and bondholder losses.
Credit default swaps on Irish, Greek, Portuguese and Spanish debt continued to hover at high levels yesterday amid confusion over the contagion risk.
Any bail-out depletes the EU’s €440bn (£374bn) rescue fund, reducing the safety buffer for other countries.
Each rescue reduces the number of donor states able to support the EU safety net, and tests political patience in Germany. “There is a danger that once Ireland has been dealt with markets will concentrate even more on countries such as Portugal and Spain,” said Ulrich Leuchtmann of Commerzbank.
Rescue loans for Ireland – as for Greece – add to the debt load without tackling the core problem of solvency. A view is taking hold in the markets that this policy merely delays the inevitable day of EMU debt restructuring.

  • #328,963
  • Nov 19, 2010 12:21am Nov 19, 2010 12:21am
Quoting fontu
If go there then even go 3811 to 3966 ended 5th of 1 & go there for 2nd , crazy friday perhaps today , lets if go above 3719/33 last tolerance level .
fontu
1.3785 is the W1 pvp. Strong breakout off the H4 monthlies & H1 pennant. I don't think it's a question of if it gets there, more like a question of when.
I'm not selling this. Good luck to you my friend
Thank You
  • #328,964
  • Nov 19, 2010 12:24am Nov 19, 2010 12:24am
Quoting wormboy
1.3785 is the W1 pvp. Strong breakout off the H4 monthlies & H1 pennant. I don't think it's a question of if it gets there, more like a question of when.
I'm not selling this. Good luck to you my friend
wormboy,
how do you determine the penants...care to share..

thanks
wanderer
  • #328,965
  • Edited 12:46am Nov 19, 2010 12:28am | Edited 12:46am
Quoting wormboy
1.3785 is the W1 pvp. Strong breakout off the H4 monthlies & H1 pennant. I don't think it's a question of if it gets there, more like a question of when.
I'm not selling this. Good luck to you my friend
Thanks for the information & concern .and good luck if any longs to you too .

usdchf contnued pullback but eu preventing up with a small round top in lower time frame now ,that is both down & no co-relation right now . lets see what next when usdchf mature for the up .
fontu
Attached Image (click to enlarge)
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Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #328,966
  • Nov 19, 2010 12:33am Nov 19, 2010 12:33am
Quoting egkid
We all learning bro , Thanks for the complement
Jim rogers November 2010
“Anyone who is intervening in the markets is a manipulator by definition."
Morning Manipulator World
  • #328,967
  • Nov 19, 2010 12:33am Nov 19, 2010 12:33am
Well, as we can see Asia has brought a downside probing. Pending order activated at 3615, and I will scale out at 3700. I expect 3750 but as we all know today is friday if we trade on Fridays its always good to monitor your trades.

However this IS a CORRECTIONAL rally. After its over I expect one more test of 3574 level.

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  • #328,968
  • Nov 19, 2010 12:34am Nov 19, 2010 12:34am
Quoting egkid
Morning Manipulator World
Good morning mate
  • #328,969
  • Nov 19, 2010 12:40am Nov 19, 2010 12:40am
Quoting egkid
Morning Manipulator World
Morning brother , well said . swimming through all manipulator /scammer waves.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #328,970
  • Nov 19, 2010 12:44am Nov 19, 2010 12:44am
Quoting T@rantula
Good morning mate
Morning bro
Nice chart , Hope no more Ranging after breaking 3660 and give us clean fresh pip
I really get tense with this type of market and got really less pip than my target much less!
  • #328,971
  • Nov 19, 2010 12:46am Nov 19, 2010 12:46am
@3650, just feel like the trend still go down 1 more round before break up. enter short here. but exactly few minutes later trend breakout and heading north.
1 hour later it's reaching my another short target @3695 and this time i chicken out and delete the pending order as no confidendence it won't go upward more.

moment later trend bounce off the resistance...

I feel silly

Lesson i learn, don't mess with own plan(out of greed).
Good day, I'm okay. Bad day, I'm okay. What's the difference?
  • #328,972
  • Nov 19, 2010 12:48am Nov 19, 2010 12:48am
Quoting Merry
697 - 705

Shorting Zone

Good Luck All




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  • #328,973
  • Nov 19, 2010 12:49am Nov 19, 2010 12:49am
Quoting fontu
Morning brother , well said . swimming through all manipulator /scammer waves.
fontu
Morning bro
What we can do with this type of moves? Less risk less profit
  • #328,974
  • Nov 19, 2010 12:50am Nov 19, 2010 12:50am
Quoting aiyoyo
@3650, just feel like the trend still go down 1 more round before break up. enter short here. but exactly few minutes later trend breakout and heading north.
1 hour later it's reaching my another short target @3695 and this time i chicken out and delete the pending order as no confidendence it won't go upward more.

moment later trend bounce off the resistance...

I feel silly

Lesson i learn, don't mess with own plan(out of greed).
Welcome to Forex, son.
  • #328,975
  • Nov 19, 2010 12:51am Nov 19, 2010 12:51am
Quoting egkid
Hi bro
1-It's ranging market so must b flexible (I mostly trade only long and medium but if market range have no choice to trade short term for now)
2-When we bouncing @1.3590 i post it looks to me rejection and not feel comfortable especially seeing most in thread sell no good sign
3-Now i have view and Plan and feel comfortable Target 1.37 and 1.3720
GL All
AT LAST TP1 HIT
  • #328,976
  • Nov 19, 2010 12:51am Nov 19, 2010 12:51am
Quoting egkid
I really get tense with this type of market and got really less pip than my target much less!
Me 2 mate. Yesterday was annoying day to trade. If there hadnt been for the news i wouldnt have been in a profit.
  • #328,977
  • Nov 19, 2010 12:54am Nov 19, 2010 12:54am
Looks like there's a pressure to the upside.

P.S.

Btw, you do realize you don't have to trade every day to be profitable? Realizing that will reduce some of the tension.
  • #328,978
  • Nov 19, 2010 12:57am Nov 19, 2010 12:57am
This can be the last "easy" move up after Ireland capitulated accepting but not acknowledging the bailout (semantics they call it a loan)... Let see how it goes.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #328,979
  • Nov 19, 2010 1:03am Nov 19, 2010 1:03am
ok i chickened out .
have to go out
see you all next week
I SEE YOU !!
  • #328,980
  • Nov 19, 2010 1:03am Nov 19, 2010 1:03am
Quoting T@rantula
If i may add a general advice for a range trading. I will post about range trading when I have time but here are some general rules how I trade ranges.

In the end of a day ull be probably trading range. When PA loses momentum its called a MOMENTUM FADE OUT. We usually get caught in a range. Typical ranging patterns are: flat top triangle, flat bottom triangle, leaning triangle and horizontal channel. When u trade ranges you dont trade in the direction of market motion. Its an agressive approach.

I usually search for bounces off range boundaries...

Thank you mate for such a good explanation. I think I will have to study the triangle patterns which you have just pointed out.
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