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  • #339,541
  • Dec 5, 2010 7:56pm Dec 5, 2010 7:56pm
Support area one, 5m on deck....

Previous chart posted, current....

http://www.forexfactory.com/showpost...stcount=339459
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  • #339,542
  • Dec 5, 2010 7:57pm Dec 5, 2010 7:57pm
Quoting gatorinla
my marbles are on the other side till 3475 is put to bed. after the act finishes, back to class. 0.858 is closer then it apears in the rear-view mirror.
after a pull back ........... maybe.......... or maybe not

Good luck it maybe braking south
  • #339,543
  • Dec 5, 2010 7:59pm Dec 5, 2010 7:59pm
Quoting malcolmb14
He may drop 1 trillion .. they essentially have the green light
doubtful. Do you think a guy sitting on >$1 Trillion might have better information than us? You'd expect a bond fund mgr to be on the lookout for armageddon, though, I spose. He was right on calling recent 1.42 E/U top. I tend to watch for what he spits out, not so on any other fund mgrs.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #339,544
  • Dec 5, 2010 8:02pm Dec 5, 2010 8:02pm
sorry BUT it is you that is talking rubbish

Fundies and trading DO NOT go hand in hand . Forget fundies and trade your charts. Most of the market is run by computer algos these days designed to make money , that is all. I mean look at ES Friday ... worst miss on NFP in 2 years yet they just bought the dip .... aka fundies and trading DO NOT GO HAND IN HAND.

I mean look at dj ....back to 11500 almost and stocks like CAT , appl , nflx etc flying high with no sellers in sight.The us economy is in a mess still . .. min 10 years to get back the 8.5 million jobs lost , do not get me started on the housing market in the US , and BEN printing money like mad. In order to get the economy back to growth US will have to do about another 3 to 4 trillion in QE and by that time China and the likes will be so pissed off with them there will be an all out trade war that will KILL the usd and the us economy / country with IT ( think Great Depression)...

As for gold ... has the sky crashed ? has war broken out ? has gold been named the new global currency ? no yest it is at an ALL time high.... just due to speculative traders NOTHING to do with fundies.

Quoting MuddBuddha
That is one of the most naive comments I have ever heard about trading....
Blogging daily now at www.volume.zone
  • #339,545
  • Dec 5, 2010 8:05pm Dec 5, 2010 8:05pm
Quoting knuckledrag
after a pull back ........... maybe.......... or maybe not

Good luck it maybe braking south
If the trend is up for you my friend then adjust your screen
Hello everyone just made an account here,to tell please stop ur ego BS,close ur trades if its going different direction instead trying to prove your false stategies.
No one really cares now about US,as on Tuesday Ireland will be announcing their new budget with huge job,and wages cuts,add to that that Portugal and Spain are next in the list ant there's no stats yet to how huge in dept they are.For example Spain has population of over 35mil and there's 20% unemployment now,so even if Spain wont need EU funding the budget cuts gonna cause some chaos in the country.
  • #339,546
  • Dec 5, 2010 8:08pm Dec 5, 2010 8:08pm
Quoting The Fool
doubtful. Do you think a guy sitting on >$1 Trillion might have better information than us? You'd expect a bond fund mgr to be on the lookout for armageddon, though, I spose. He was right on calling recent 1.42 E/U top. I tend to watch for what he spits out, not so on any other fund mgrs.
i gotta buck saying we were within 30 pips of another one just now. it may already have happened. lets see where this bounce takes us. all we did is extend a bear path
those who can, do. those who cant, talk about those who can
  • #339,547
  • Dec 5, 2010 8:10pm Dec 5, 2010 8:10pm
It look like the typical monday after NFP when there are no news, then there is no strenght for market to hit and pierce di resistance.

I think its going to be downhill all day on Eur/Usd. I may be wrong , but its just the typical after NFP monday every month and it goes downhill .
To Your Success!!
  • #339,548
  • Dec 5, 2010 8:11pm Dec 5, 2010 8:11pm
Quoting malcolmb14
sorry BUT it is you that is talking rubbish

Fundies and trading DO NOT go hand in hand . Forget fundies and trade your charts. Most of the market is run by computer algos these days designed to make money , that is all. I mean look at ES Friday ... worst miss on NFP in 2 years yet they just bought the dip .... aka fundies and trading DO NOT GO HAND IN HAND.
-I want to say the market is ran by 70% of the computer algos, but you have to factor in that A LOT of those trades are short short {couple seconds at most} trades designed to make pennies.

Quoting malcolmb14
I mean look at dj ....back to 11500 almost and stocks like CAT , appl , nflx etc flying high with no sellers in sight.The us economy is in a mess still . .. min 10 years to get back...
CAT - they just dropped anchor in India, China, etc. over the past couple years banking billions in development {as the first ones in from abroad} -

Apple - it's apple .. nuf said

NFLX - that won't last for long with the new rules they might be coming out with, especially if the FCC lets other companies bully them {comcast demanding payment for NFLX online subscriptions & the movie studios releasing 1month later}

okay here is the one that i LOVE -

EVERYONE says the feds prints prints prints ... but I can't find anything on how much they print or even if they do print, Ben himself said that QE2, no money was printed.

Serious question, are you a critic or do you have a legitimate source for the 'printing' of money?

Quoting malcolmb14
As for gold ... has the sky crashed ? has war broken out ? has gold been named the new global currency ? no yest it is at an ALL time high.... just due to speculative traders NOTHING to do with fundies.
It was the global currency until Nixon.

U.S. game-plan IMO

'lets make the u.s. dollar the global currency & have all major currency's develop a central bank like ours with ... you guessed it .... UNITED STATES DOLLARS!'.. just my take on it.
  • #339,549
  • Dec 5, 2010 8:15pm Dec 5, 2010 8:15pm
Support ahead.
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  • #339,550
  • Dec 5, 2010 8:17pm Dec 5, 2010 8:17pm
Quoting gatorinla
this would be #2
same chart. and extension is usually a temp move. bears and bulls have different gates. each follows its own path.
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those who can, do. those who cant, talk about those who can
  • #339,551
  • Dec 5, 2010 8:21pm Dec 5, 2010 8:21pm
Anyone else on a short scalp?

Just to note that IMO nothing really matters tonight except the chart. Funnymentals will have some power at London open perhaps.
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Don't Panic. Stay With You're Group.
  • #339,552
  • Dec 5, 2010 8:23pm Dec 5, 2010 8:23pm
Quoting gatorinla
same chart. and extension is usually a temp move. bears and bulls have different gates. each follows its own path.
Well, the LONG has been knocked out. Thought about loosening it up some, but there doesn't seem to be much momentum to the topside tonight. +166 became +127.

I'll order in at the top of the BB's on the hourly in case it picks up again.
Capital Preservation is key to long term wealth accumulation
  • #339,553
  • Dec 5, 2010 8:26pm Dec 5, 2010 8:26pm
Quoting MindfulOne
Anyone else on a short scalp?
Closed it at 1.3344 just in case. Will get back in if and when support retest fails
  • #339,554
  • Dec 5, 2010 8:28pm Dec 5, 2010 8:28pm
Quoting MuddBuddha

So that's who I am.
If you truly know who you are then that's worth way more than 7 figures. Most importantly, a man's got to know his limitations.

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #339,555
  • Dec 5, 2010 8:29pm Dec 5, 2010 8:29pm
Quoting MuddBuddha
Well, the LONG has been knocked out. Thought about loosening it up some, but there doesn't seem to be much momentum to the topside tonight. +166 became +127.

I'll order in at the top of the BB's on the hourly in case it picks up again.
it has to rest at different places. lets make sure they aint silicone.
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those who can, do. those who cant, talk about those who can
  • #339,556
  • Dec 5, 2010 8:30pm Dec 5, 2010 8:30pm
Quoting Ifmyante
Closed it at 1.3344 just in case. Will get back in if and when support retest fails
My stop is at 3352. I closed one lot and will leave the other open.

I'm having a hard time seeing any real support levels with all this chop.
Don't Panic. Stay With You're Group.
  • #339,557
  • Edited 8:40pm Dec 5, 2010 8:30pm | Edited 8:40pm
I dont even know if anyone gets to read this as the thread is moving very fast. By the time moderation accepts my post it's like 3 pages behind.

Anyway, here is an update of my opened position from last week. I did close more than half of it now and pocketed some profits. I will move the stop loss right to breakeven after this post.

"One lesson I did re-learn from this, is that I should have waited before I opened the trade. Last week it was not even sure if the waive count was going to hold. Neither is it sure as of now. But so far looking good. My original SL was missed by just 2 pips. That I was able to close it now with some profit was mere luck."

My action plan is now to wait out Monday and see what is going to happen and open from there. =)

Quoting hfcgII
Hi to all!

I was thinking I share my trading set up again with you, because I have been waiting for this to happend for some weeks now. With the bad employment data from the US, EU finally completed waive 4 and bounced off 1.34. So I placed a small, very small, short postion with a stop loss at 1.3440. I believe, if the SL will be triggered, waive 5 will be invalidated.

What do you think?

I hope you all made a little on that move up a while ago. Was fun!

I also had a couple of bad trades since my last post because I tried scalping....
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  • #339,558
  • Dec 5, 2010 8:31pm Dec 5, 2010 8:31pm
Probably should respect the 1.3333.

Anyone else think it's important?
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  • #339,559
  • Dec 5, 2010 8:31pm Dec 5, 2010 8:31pm
i thnk euro have 2 turning points today for upword and thats culd be 1.3341 or 1.3305.
  • #339,560
  • Dec 5, 2010 8:40pm Dec 5, 2010 8:40pm
Quoting gatorinla
it has to rest at different places. lets make sure they aint silicone.
you think it will hit one of those lines......lol........
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