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  • #367,181
  • Jan 18, 2011 11:15am Jan 18, 2011 11:15am
Quoting AllyB
Well done Gleneagles

I actually tried the 12 pip theory yesterday afternoon when PA got real slow. It worked but with the range being tight you had to have a good entry to even get 12 pips. Had 2 shorts that took over 3 hours to hit my TP! That was painful.

Thanks for sharing
AllyB,

It becomes risky trying to grab even 12 pips when the trading ranges get smaller. Best is to wait for ATR on 5M to get to 12+ pips if you want to go for TP of 12 (or more)
LDN and NY sessions are obviously the best times to trade.
I will send you an indi that will tell you when the trading range is big enough to trade.
" Never let the past hold the future to ransom "
  • #367,182
  • Jan 18, 2011 11:16am Jan 18, 2011 11:16am
Quoting cloggie
If you look at the later report and the auction results last week you see the 20 Bn from December taken of as being desentisised. The ECB has no mandate to increase the money supply.
Hi Cloggie, Any idea where to find reports on bond sales - please. I always hear about the sales but never know where to find the 'actual' story on them.
  • #367,183
  • Jan 18, 2011 11:17am Jan 18, 2011 11:17am
Quoting sisse
Yes that is exactly the point. Is a technicality (Economist ...always looking for the loophole!!!!) to print money without breaking the mandate and as you probably you know is not something the politician in Brussels will understand nor is a point to explain at national level by the EZ governments .... in other words perfect solution to bypass politics and the mandate.

sisse

Not entirely, as they are allowed to purchase the debt as long as it gets offset, they are not allowed to purchase debt from any public institution, so this way they do meet article 123 and money supply does not increase. Every month since June the balance has been zero, except for the minor hiccup in December, which was rectified in Jan.

So the ECB is guaranteeing the debt while the public institutions remove deposits to balance the books. I agree that it is a very circumspect way to get around article 123, but it does work (for now). IF the market had no confidence in this we would be looking at 1,000 pip weeks for a while and would be at parity in no time.

The FI boys are keeping a close eye on this as yields would go through the roof otherwise.

http://www.bancaditalia.it/media/com...s110118.en.pdf
  • #367,184
  • Jan 18, 2011 11:20am Jan 18, 2011 11:20am
Quoting caseyjw
but I was looking for a long entry

same here
  • #367,185
  • Jan 18, 2011 11:21am Jan 18, 2011 11:21am
short eu 1.33744 tp 1.33260
  • #367,186
  • Jan 18, 2011 11:23am Jan 18, 2011 11:23am
Quoting wormboy
check 3444, 3405

let's see 3367
done.

check 3367. close below & 3306 will be tested.

Good luck
Thank You
  • #367,187
  • Jan 18, 2011 11:23am Jan 18, 2011 11:23am
Quoting cloggie
Not entirely, as they are allowed to purchase the debt as long as it gets offset, they are not allowed to purchase debt from any public institution, so this way they do meet article 123 and money supply does not increase. Every month since June the balance has been zero, except for the minor hiccup in December, which was rectified in Jan.

So the ECB is guaranteeing the debt while the public institutions remove deposits to balance the books. I agree that it is a very circumspect way to get around article 123, but it does work (for now). IF the market...
The point is the power of injecting short term liquidity without legally breaking anything. I agree with you Cloggie on the big picture is just that small technicality that is interesting for me.

In any case, price finally testing intraday BO point let see if this day is over in a few minutes.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #367,188
  • Jan 18, 2011 11:25am Jan 18, 2011 11:25am
Quoting sisse
The point is the power of injecting short term liquidity without legally breaking anything. I agree with you Cloggie on the big picture is just that small technicality that is interesting for me.

In any case, price finally testing intraday BO point let see if this day is over in a few minutes.

sisse

http://www.bancaditalia.it/media/com...s110118.en.pdf

Here is the latest with the adjustment to zero.

It is very interesting how they do this and I keep a close eye on it weekly.
  • #367,189
  • Jan 18, 2011 11:27am Jan 18, 2011 11:27am
closed my short from 13445 now will wait for the right time to reenter. total day in profit
  • #367,190
  • Jan 18, 2011 11:27am Jan 18, 2011 11:27am
Quoting gatorinla
s/p.... could be toppy. gold, oil, ect. time will tell
bottom chart is usdx... the crotch is target 1... dow hit a new high.. does what goes up, come down?
crotch kicked at first target 79.07-1 (almost 79.06 high). odds get much lower for the others now. 79.48 ..79.59.. each pip = about 2.1 on eu
those who can, do. those who cant, talk about those who can
  • #367,191
  • Jan 18, 2011 11:27am Jan 18, 2011 11:27am
Quoting Gleneagles
AllyB,

It becomes risky trying to grab even 12 pips when the trading ranges get smaller. Best is to wait for ATR on 5M to get to 12+ pips if you want to go for TP of 12 (or more)
LDN and NY sessions are obviously the best times to trade.
I will send you an indi that will tell you when the trading range is big enough to trade.
Great! Thank You ...
  • #367,192
  • Jan 18, 2011 11:30am Jan 18, 2011 11:30am
Quoting wormboy
done.

check 3367. close below & 3306 will be tested.

Good luck

Quoting cloggie

To the downside I got 3366, 3341.
Yup
  • #367,193
  • Jan 18, 2011 11:31am Jan 18, 2011 11:31am
Quoting gatorinla
crotch kicked at first target 79.07-1 (almost 79.06 high). odds get much lower for the others now. 79.48 ..79.59.. each pip = about 2.1 on eu
1 crotch kick level = to 3373 monthly eu close
those who can, do. those who cant, talk about those who can
  • #367,194
  • Jan 18, 2011 11:34am Jan 18, 2011 11:34am
1.3367 is broken..now lets watch the 1.3306 area.
  • #367,195
  • Jan 18, 2011 11:34am Jan 18, 2011 11:34am
3359 may be a bump
those who can, do. those who cant, talk about those who can
  • #367,196
  • Jan 18, 2011 11:35am Jan 18, 2011 11:35am
Quoting redsword11
Attachment

PA failled to enguilf level, bailled long - sold it
  • #367,197
  • Jan 18, 2011 11:36am Jan 18, 2011 11:36am
Quoting cloggie
Yup
Cloggie is the hrly that needs to close below 3366 ?
  • #367,198
  • Jan 18, 2011 11:38am Jan 18, 2011 11:38am
Quoting caseyjw
short eu 1.33744 tp 1.33260
added at 1.33621 average entry 1.33682
  • #367,199
  • Jan 18, 2011 11:38am Jan 18, 2011 11:38am
1.337 did not act as support...

We've now reached R1.
  • #367,200
  • Jan 18, 2011 11:39am Jan 18, 2011 11:39am
Quoting AcidH4X
1.3367 is broken..now lets watch the 1.3306 area.
3340 first, then 3306
A pip is only worth it if you know how much you risked to earn it
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