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  • #337,921
  • Dec 2, 2010 11:08am Dec 2, 2010 11:08am
Quoting sisse
I agree, it was a v. difficult day in my books to properly manage a trade & stops H4 (and obliviously below) after reports. Also agree that volatility should increase in the following weeks but an outside bar after a large bar (h4) is not very common at all (means most intraday traders got tested in one way or another) + means none of the session ranges properly hold during the day.

sisse
my appologize...
but to me ...today was the easiest trade...
why? from yesterday daily confirmation and just nice from my S/R line....

sorry if i offenced u..but this is just my view...

g
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  • #337,922
  • Dec 2, 2010 11:10am Dec 2, 2010 11:10am
Quoting Piters
2 things: Confidence and Action

1. Trichet shown who is THE BOSS at home. With Lots of confidence and not much talking he presented a confidence..
2. While he was busy with reporters.. ECB started an intervention in BOND markets.. buying from the Lows..

Very smart.. Mr. BEN has lots of lessons to learn... About the Confidence and Credibility
Yes I understand that, but how long can they buy their own bonds? only seems like a very very very short term solution.

As of now, the bonds still aren't attracting actual investors.
  • #337,923
  • Dec 2, 2010 11:12am Dec 2, 2010 11:12am
Quoting mikej2010
I just don't understand where this rally is coming from?

Seems like this is a ride north based on the ECB words.

you think we will see 1.3100 anytime soon?
+
Hi, this rally was overdue, it's a healthy sign of the downtrend, so if we reach my level of 1.3280-ish, we should have a nice run towards 1.27...
  • #337,924
  • Dec 2, 2010 11:13am Dec 2, 2010 11:13am
possible target horizontel line above
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  • #337,925
  • Dec 2, 2010 11:14am Dec 2, 2010 11:14am
Referring to AUD/USD, the 61.8 retrac. is about .9800, went long on a small lot last not and cashing out.
  • #337,926
  • Dec 2, 2010 11:14am Dec 2, 2010 11:14am
I dont mind us going to 3300 at all. part of the game.
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  • #337,927
  • Dec 2, 2010 11:15am Dec 2, 2010 11:15am
Quoting mikej2010
Yes I understand that, but how long can they buy their own bonds? only seems like a very very very short term solution.

As of now, the bonds still aren't attracting actual investors.
As much they need..

That's the name of the GAME...
  • #337,928
  • Dec 2, 2010 11:15am Dec 2, 2010 11:15am
Quoting mikej2010
I just don't understand where this rally is coming from?

Seems like this is a ride north based on the ECB words.

you think we will see 1.3100 anytime soon?
Buy the HOPE sell the FEAR.

Im telling u there are 2 possibilities and I will be sure to react in proper time.

1) We are undergoing a bearish correction ( h4 chart ) that could bring EU down to 27xx-25xx levels
2) We are undergoing a positive reversal started from 42xx levels. If that is the case we could see 42xx retest.
  • #337,929
  • Dec 2, 2010 11:16am Dec 2, 2010 11:16am
Quoting wormboy
yup.
I bought @3220. Stop placed @3200.
Let's see
nope. bailed @3219.
Done for the day.
Thank You
  • #337,930
  • Dec 2, 2010 11:17am Dec 2, 2010 11:17am
Quoting infinitus
I can count the movement up as completed. That would fit very well at 3247.

This corrective move since days is hard to count. So I am not surprised when it moves a little bit higher.
Yup. Do you see it coming to test 1.3180/90?

I think it will.
They think they are smarter than I am.
  • #337,931
  • Dec 2, 2010 11:19am Dec 2, 2010 11:19am
Quoting Piters
As much they need..

That's the name of the GAME...
okay, What I am saying is this. We are in debt to China, they own our bonds, and we just refinance, add interest, give new bonds, etc. when those mature.

They paid for those, With the ECB, they buy the bonds ... but there is not much more money to be had to buy bonds. especially with 10 year mature dates, the bonds {except for Germany maybe} aren't going to hold like they are showing for 10 years.

My main concern, is should I get out of my low value short or just wait for the 1.33xx area and add to my short.

I appreciate your replies, Just don't see why this is putting so much confidence in the Euro. Between you and 10 neighbors each have $100 , you can't loan out more then $1100 at any one time.

Asia isn't going to invest into Europe right now, the U.S. isn't , Russia isn't of course, there is no one to invest into Europe.
  • #337,932
  • Dec 2, 2010 11:20am Dec 2, 2010 11:20am
Quoting gatorinla
if we break today's low and not todays high we will test 2958
oh well.. Murry 3305.. .. daily r3 3307 currently above daily r2 @ 3222.
in the retrace sequence i have.. 3221.5 3281 3329 3377.6
we have confluence atm with the red numbers.
the tl from 4280 if reached may have confluence.
those who can, do. those who cant, talk about those who can
  • #337,933
  • Dec 2, 2010 11:20am Dec 2, 2010 11:20am
Quoting T@rantula
Buy the HOPE sell the FEAR.

Im telling u there are 2 possibilities and I will be sure to react in proper time.

1) We are undergoing a bearish correction ( h4 chart ) that could bring EU down to 27xx-25xx levels
2) We are undergoing a positive reversal started from 42xx levels. If that is the case we could see 42xx retest.
sorry mate....

if u want 1.27-1.26-1.25 or even lower..no way 1.42.
Max could be 1.4080/1.41 cannot be more than that....

Otherwise if it does, atleast 1.45-1.46 .......just a dime

g
  • #337,934
  • Dec 2, 2010 11:20am Dec 2, 2010 11:20am
Quoting Ipndasno
Post a chart with your thoughts.

2958? thats a new low. Bet yeah a pip that we stay above 3090.
Nice Bullish Move. =)
  • #337,935
  • Dec 2, 2010 11:21am Dec 2, 2010 11:21am
garshid it is for you the gold trend line has broken to upside

I dont like it personely
  • #337,936
  • Dec 2, 2010 11:22am Dec 2, 2010 11:22am
Quoting T@rantula
Buy the HOPE sell the FEAR.

Im telling u there are 2 possibilities and I will be sure to react in proper time.

1) We are undergoing a bearish correction ( h4 chart ) that could bring EU down to 27xx-25xx levels
2) We are undergoing a positive reversal started from 42xx levels. If that is the case we could see 42xx retest.
I guess to add to my standpoint {very biased right now based on 'hopes & dreams'}, but do you really think European exporters are going to let it get upto 1.42xx?

Asia has the most interest in higher value Euro & U.S. dollar as they are the biggest creditors. But they can only be bulls for so long.
  • #337,937
  • Dec 2, 2010 11:22am Dec 2, 2010 11:22am
Quoting Z3iz3i
Yup. Do you see it coming to test 1.3180/90?

I think it will.


yes..sure....
1.31960-1.3875 depending an individual spread....is my number

possible it could start to 1.33 area from ~1.31510 area......
  • #337,938
  • Dec 2, 2010 11:24am Dec 2, 2010 11:24am
Quoting Z3iz3i
Yup. Do you see it coming to test 1.3180/90?

I think it will.
3184 is reachable, 3199 should nearly be a given

3184 would be sweet, making the whole bounce up today most likely an ending diagonal.
  • #337,939
  • Dec 2, 2010 11:25am Dec 2, 2010 11:25am
Quoting hindustani
Mission December High

http://img571.imageshack.us/img571/2959/get.gif
Mission Over, lol, new high in place now.
  • #337,940
  • Dec 2, 2010 11:25am Dec 2, 2010 11:25am
Quoting darimik
I dont mind us going to 3300 at all. part of the game.
Attachment
Attachment
1.3244 is the key. If breached north, the MM lines will recalculate and change colour.

1.3813 will be the bottom (0/8) of the frame, 1.3244 will be (1/8) and if we do reach 1.33 then we can expect to see 1.4X as in the 8/8 plus area.

But first things first, on a smaller time frame, 1.3226 needs to be breached. Unfortunately cant see that on your frame.... XARD777's Lines are brilliant, but they are constantly redrawn based on price. Would be nice to see it on the smaller timeframes. I'll do that tonight at home and post them to the group.
A pip is only worth it if you know how much you risked to earn it
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