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  • #416,981
  • Apr 1, 2011 9:35am Apr 1, 2011 9:35am
  •  gdaym8
  • | Joined Jan 2011 | Status: You Never go broke making a profit | 71 Posts
Can’t keep a good euro down

Written by Jamie Coleman
April 1, 2011 at 15:49 GMT

Back above 1.4200. Whiplash collars are available at a nominal charge.
Make checks payable to:
W. Dudley
Maiden Lane
NY, NY
Key resistance lies in the 1.4230/50/80 range…
Always remember "Logic" has NO place in the Forex markets
  • #416,982
  • Apr 1, 2011 9:40am Apr 1, 2011 9:40am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
My USDX daily. Normally this would indicate a break in the down trend. But this rally might hang around for a while. Not happy.

Attached Image (click to enlarge)
Click to Enlarge Name: usdx daily.gif Size: 21 KB
Trade what you see, not what you think.
  • #416,983
  • Apr 1, 2011 9:40am Apr 1, 2011 9:40am
what really pisses me off is this. if we, or a corporation would do what these politicians do on a daily basis we would all be in jail. but hey, the harder things are being propped, the harder they will reset. it's just the way it is. and when that happens a lot of people will lose a lot of money.... again.

edit: looking at the bright side, now we have a wider range to play with. lol
  • #416,984
  • Apr 1, 2011 9:44am Apr 1, 2011 9:44am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Quoting attila
what really pisses me off is this. if we, or a corporation would do what these politicians do on a daily basis we would all be in jail. but hey, the harder things are being propped, the harder they will reset. it's just the way it is. and when that happens a lot of people will lose a lot of money.... again.

I agree. Try living in Aus. Our reserve bank gets away with so much. The minute the Au$$ drops below parity they come out unanounced and talk of an interest rate hike, then when it moves back up they talk of a cut. Fucking dogs. If that happened in the US they would be assasinated. Then again.....
Trade what you see, not what you think.
  • #416,985
  • Apr 1, 2011 9:44am Apr 1, 2011 9:44am
Quoting attila
... too bad Cramer is not into forex, he would make for a great contrarian indicator.
My thoughts exactly. If you were looking at him on the day of the flash crash like me, you would've gotten a good laugh that lasted for weeks.I'm just happy that they FINALLY made a show dedicated to currencies. Nice to see what the "experts" are thinking.
  • #416,986
  • Apr 1, 2011 9:44am Apr 1, 2011 9:44am
Quoting attila
oh no. was talking intraday. the real drop is yet to come. point is THEY want a weak dollar and his comments stopped the fall in it's tracks, but the Market always has a way to punish politicians... my favorite past time...
I think we're just in a 200 pip range, I favour distribution and thought nfp today was the ideal excuse for a top side shakeout, doesn't appear to be the case and I now reckon we'll be looking for more info to come out on rates and qe3, for the trigger...
Attached Image (click to enlarge)
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  • #416,987
  • Apr 1, 2011 9:46am Apr 1, 2011 9:46am
  •  gdaym8
  • | Joined Jan 2011 | Status: You Never go broke making a profit | 71 Posts
[quote=attila;4516336]what really pisses me off is this. if we, or a corporation would do what these politicians do on a daily basis we would all be in jail. but hey, the harder things are being propped, the harder they will reset. it's just the way it is. and when that happens a lot of people will lose a lot of money.... again.


including me ! They Never learn from the mistakes of the past.
Always remember "Logic" has NO place in the Forex markets
  • #416,988
  • Apr 1, 2011 9:48am Apr 1, 2011 9:48am
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Latest news:
Fitch downgrades Portugal to BBB-


and still this monster rallies!
Trade what you see, not what you think.
  • #416,989
  • Apr 1, 2011 9:50am Apr 1, 2011 9:50am
[quote=gdaym8;4516352]
Quoting attila
what really pisses me off is this. if we, or a corporation would do what these politicians do on a daily basis we would all be in jail. but hey, the harder things are being propped, the harder they will reset. it's just the way it is. and when that happens a lot of people will lose a lot of money.... again.


including me ! They Never learn from the mistakes of the past.
And to make things worse, we get screwed because of it.
  • #416,990
  • Apr 1, 2011 9:51am Apr 1, 2011 9:51am
i knew i hit a nerve. but you all remember this: the Market is King. always.
  • #416,991
  • Apr 1, 2011 9:56am Apr 1, 2011 9:56am
it only takes one or two big banks to run this POS shit back up so they can close out longs. it's a very manipulated market. there's no way in hell this pair should be where it's at. unless... you control the game.
  • #416,992
  • Apr 1, 2011 9:56am Apr 1, 2011 9:56am
  •  gdaym8
  • | Joined Jan 2011 | Status: You Never go broke making a profit | 71 Posts
[quote=Venice;4516361]
Quoting gdaym8

And to make things worse, we get screwed because of it.


When you really think about it, why would anyone think about buying the Euro at this top end with all the problems. I just cannot get my head around it !
Always remember "Logic" has NO place in the Forex markets
  • #416,993
  • Apr 1, 2011 9:58am Apr 1, 2011 9:58am
[quote=gdaym8;4516375]
Quoting Venice



When you really think about it, why would anyone think about buying the Euro at this top end with all the problems. I just cannot get my head around it !
this is exactly how and where they screw with your head.
  • #416,994
  • Apr 1, 2011 9:59am Apr 1, 2011 9:59am
Quoting damo
Latest news:
Fitch downgrades Portugal to BBB-


and still this monster rallies!
The world was flooded with easy money, rating agencies given triple AAA to companies that started the crisis and now they continue smiling and doing its job.
Portugal had A in 2009 and now is junk! I do not know if I should cry or smile!

This is the world we living.....
Are this what really people wants?
  • #416,995
  • Apr 1, 2011 9:59am Apr 1, 2011 9:59am
[quote=gdaym8;4516375]
Quoting Venice



When you really think about it, why would anyone think about buying the Euro at this top end with all the problems. I just cannot get my head around it !
but the banks that control this market don't lose.
  • #416,996
  • Apr 1, 2011 9:59am Apr 1, 2011 9:59am
[quote=gdaym8;4516375]
Quoting Venice



When you really think about it, why would anyone think about buying the Euro at this top end with all the problems. I just cannot get my head around it !
Hardest thing to do with all of this, is change your thought process.

Try not to think of the current valuation of a currency, think of what the big boys can do to screw as many people as possible.

If sentiment is down, you can bet your ass they are going to run it as high as possible. Liquidity providers, is all.
  • #416,997
  • Apr 1, 2011 10:00am Apr 1, 2011 10:00am
Quoting BoredToLoose
The world was flooded with easy money, rating agencies given triple AAA to companies that started the crisis and now they continue smiling and doing its job.
Portugal had A in 2009 and now is junk! I do not know if I should cry or smile!

This is the world we living.....
Are this what really people wants?
FED, credit ratings, banks and the rest are part of a large organisation
They themselves might not know it though.

Go google them
  • #416,998
  • Apr 1, 2011 10:02am Apr 1, 2011 10:02am
[quote=damo;4516335]My USDX daily. Normally this would indicate a break in the down trend. But this rally might hang around for a while. Not happy.

just trade and trust what you see...all indicator pointing down so..what next..just 2my cent mate.. trade safe..
  • #416,999
  • Apr 1, 2011 10:04am Apr 1, 2011 10:04am
Downtrennnnnnnnnnnnnnd now!! What do you think
  • #417,000
  • Apr 1, 2011 10:06am Apr 1, 2011 10:06am
Attached Image (click to enlarge)
Click to Enlarge Name: UploadImage.png Size: 71 KB


you dont see such a bullish pattern on 4hr chart very often.

4hr pin bar .
start 4150 end 4150.
It reached close to the 50% fib level before reversing .4050
The next bar moved up to break 4200 .

If you saw this on 5 minute chart might be worth 50 pips .
Whats it worth on 4hr chart.?

I thought at one point it may trigger the stops through 4230/50/80 .
But the job numbers were too good ,sending it down too far.
if the job numbers had been = to the expected .we would be over 4300 now
making green pips large and red pips small this is my goal.
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