EURUSD

an insight on futures: EUR, USD, JPY. 1h

back to 3100 then droppppp it like its hot !

now, this really isn't the area where i'd like to add to any trade...

The lowest for the day is .3083.
If it go to 3082...i bet it'll go lower.

do you know what I mean

check out GU , lol.....

been following the bear this past few days pretty well. good entries and even better exits.

but right now buying starts to be building on my mind... next 15m candle close can create a TD reversal setup...

i'll be looking for a false break of the 80 to enter long IF we do get a false break but that maybe is just too easy and won't happen...

buying here feels like buying at a edge of a cliff! but selling doesn't "feel" comfortable either. trading has nothing to do with trading but i believe our unconscious sometime knows more than we know we know LOL.

buying the break of 3110 is also an option... hmmmm

hapipipin

That may be all we can get out of this short trade. Im still hanging in till my stop 3105 goes.

I have learned different edges because I can almost know for sure certain things. You are on the right track. Sometimes there is too much analysis and too much noise.

There are usually explanations for most things. Greed, Fear, Mood and many retail traders without a real clue set things up.

First and foremost Forex is a business place of supply and demand. Then all the other factors enter into it. Then it also becomes a game. The game part which of course is also a business is the part you described with trading desks.

You need to learn the rules of the game and truly understand that depending too much on the charts is why 90% of ALL traders lose.

That also includes some of the bigger traders from bigger houses who get mislead by so called economists who GUESS half the time.

That is a whole other ball of waw as I study from the Austrian School of economics.

I am a contrarian. I always refer to other contrarians smarter than I. I just need to read and understand. I also need to read and understand the other point of view in order to know which makes more sense.

Then there is market PERCEPTION which is always RIGHT until it is wrong. It becomes WRONG when an unexpected fact now becomes more accepted than before.

I was aware of the SERIOUS housing problem 2 years before it happened. That helped me see the FED moves in advance when they kept cutting interest rates and thus gave me a new trading opportunity by going short USD/JPY from 118.00 down.

You should learn economics on the surface. The geopolitical situation. There is so much to know however if you love learning and working and thinking and making money by having the EDGE then it becomes a way of life and you win unlike the 90% that have no real clue what is really going on.

PM me and I will give you links and you can post some here if you like. Any links I give you will be free links available to all. The ones I pay for usually repeat this information later on the free sites.

My edge here is knowing who the real experts are having read them all over the last ten years.

I am off for breakfast now. Have a good day.

I'm out.

Have a nice and relaxing Christmas everyone (as if that was possible).

Cheers.

u as well hatchy !
see you january,

im out for ski holidays

You too Hatch I may be out soon also. BE stop is coming about.

strong euro buyers in the last hour...

Definitely a battle here

sorry I told I was going but I cannot leave the screen ok, this time for real!

From WWW.JSMINESET.COM

PLEASE READ IT CAREFULLY - Most never see this type of information on CNBC or from other mainstream financial sources.

GARBAGE in is garbage out. Misinformation or ignorance is never good.

Here you go, now off for breakfast.

Dear Friends,
Observing the price action in the commodity markets today has given me great reason for concern for that which I feared seems to have occurred, namely, the crude oil market has broken out to the upside. I suppose it was just a matter of time based on the orgy of fund buying across the commodity sector but I was secretly hoping that we might avoid such a close mainly to prevent what now seems to be a certain price rise for the cost of energy. Heretofore, the soaring CCI (Continuous Commodity Index) has been moving higher mainly based on food and metal costs. Now we have the trifecta where the three main segments of that index are moving higher in tandem. Actually, given the extent of the price run in the food and metals sector, the energy sector has a lot of ground to make up.
Yesterday crude put in its best close in 26 months. Today it has closed above what has become both technical and psychological chart resistance at the $90 level. Should it end this trading week above $90, holiday trading conditions or no holiday trading conditions, it will put in its best weekly close since October 2008. Moving forward into the New Year, it looks most probable that it is going to make a run at $100.
My fear mentioned above is that in addition to consumers soon to get walloped with sticker shock at the grocery stores within the space of a few months as the price rise works its way through the distribution channels, they were also going to get hit with rising gasoline and energy costs, a double whammy for their pocketbooks at the time that many can ill afford it. There are so many struggling families dealing with lost incomes and underemployment for those fortunate enough to have found work, that any further price pressures on the energy front would act to take some of them over the edge financially. Many are having to cut expenses drastically in an attempt to stay in their homes. How soaring food and energy costs are supposed to benefit the economy escapes me.
The ivory tower types of the monetary realm are completely disconnected from the havoc and harm that they have caused so many with their incredibly short-sighted and foolhardy monetary policies. The Federal Reserve is presiding over the deliberate and planned unleashing of the inflation genie without the least bit of concern as to how that is going to affect the average middle class American. Words cannot express the contempt and disdain I have for this group of elitists. Keep in mind how this entire debacle began and the “medicine” that has been brought forth to supposedly cure it. If this is the cure, they are only succeeding in slowly killing the patient.
There does not seem to be any end in sight to the continued money creation efforts of the Fed so all that we can do is attempt to protect ourselves and our loved ones from their depredations upon our life savings. The bond market, while currently being artificially propped up by these snake oil salesmen, looks heavy, even in spite of the massive buys it is seeing as the Fed makes the purchases that are part of its QE (money printing) program. Once that market breaks down in earnest, it will not take much to see a cascade of selling erupt as bond holders head to the exits. I suspect that the Chinese are more than seriously concerned about their national wealth, a large part of which still remains trapped in these worthless IOU’s called Treasury Debt.
Long term rates could then rise quite rapidly as bondholders experience a selling panic and feverishly attempt to avoid being the last man standing in what might well become a sort of perverse game of musical chairs. Their actions will create a cycle in which selling intensifies. The resulting rise in longer term interest rates will work to continue depress the Real estate sector not to mention hit thousands of homeowners trapped in adjustable rate mortgages which will then reset to a rate that may force even more of them out of their homes. Quite frankly, I see nothing on the horizon preventing this from occurring at this point because the Fed cannot create enough money to buy up all the outstanding Treasury debt that is going to be unloaded. Oh they conceivably could I suppose but at what cost to the Dollar!
Jim has said it more than once over the last few years that these derivative creators and vile peddlers have destroyed us all in their greed. Many of you have not understood what he has been saying or perhaps felt that it was an overreaction. Rest assured, the fallout from this sordid mess is now rapidly descending upon us.
The Fed created this travesty under the tenure of Mr. Greenspan who never saw a potential problem on the horizon without throwing money at it. For that, he was stupidly hailed as “The Maestro”. His madness, of lowering interest rates to ridiculously low levels, gave rise to the hedge fund industry and its attempts to then find yield in any sector that it could. The wave of speculative frenzy unleashed then crashed into one sector after another only abating when the derivative market blew all to hell which was inevitable. Enter Mr. Bernanke, who then revitalized the beast of speculative frenzy by one upping his predecessor. Much like Beowolf’s golden horn raised the dragon, Bernanke’s QE idiocy fan the fires of leveraged insanity as he practically begged the hedge funds to buy commodities to induce inflation and ward of his ridiculous fear of deflation. The results are now obvious. Nice going guys – you can sit in your ivory tower and quietly study the effects of your brain child while Middle America slowly dies of price asphyxiation. A pox on your entire house.
Click either chart to enlarge in PDF format with commentary from Trader Dan Norcini

OMG I cant read all of this.LOL

usdx , usdchf ready up but eu still staggering around the same levels . anyway will wait more for it to go, break 3077/73 first.may be waiting some news !
fontu

Does the mkt NOT know I have things to do? I cant be sitting here all day for 20 pips..lol. It needs to take me out or cough up the pips SOON..

me either , english isnt my mother tongue, i get scarry with such texts : P