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EURUSD

  • #435,741
  • May 4, 2011 9:31pm May 4, 2011 9:31pm
Quoting malcolmb14
4 hour chart...
Nice chart, malcom!
  • #435,742
  • May 4, 2011 9:32pm May 4, 2011 9:32pm
Btw - we are hovering just above 100% fib extension from december's lows:
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  • #435,743
  • May 4, 2011 9:34pm May 4, 2011 9:34pm
Quoting kenfen69
Twisted bloody world..
Got that backwards.

The CME wants to be around another day.

Letting speculators bid up Silver to the stratosphere unrelentlingly is like giving Charlie Sheen free access to a G5 to jet him down to Colombia for a little parteee.

Futures exchanges are far safer (counterparty risk and protecting funds held in accounts) and legit than stock or options and especially spot forex. Not saying things don't happen. Just saying they are better than all the rest.
  • #435,744
  • May 4, 2011 9:34pm May 4, 2011 9:34pm
Red

eu poked out of top of channel today ...got slammed by heavy volume back under channel high ... a failed breakout.

May well drop to 4770 in london .... or nexy us session. I am thinking there is much supply in this are ... a little drop into 4650 , get all those bears well and truly lured in and then wham up she goes.

OR NOT

QE2 ends in June now what is going to hold the US stock market up ?

OH interesting thing is gold and oil are having a ton of supply right now , massive volumes. Something is going on . We may have seen a temp top in oil

Quoting the redlion
here is an observation

the GBP/USD AUD/USD CAD/US CHF/USD JPY/USD

are all showing dollar weakness,

lets keep in mind the out of all the major currencies the one that did not drop but instead consolidated was the EURO,

seems to me that by gauging on the direction of the USD seems to me

shorting EUR/USD pair is not such a good idea.

i ask my self this question if the range play was still on the table why did the euro consolidated at around 1.48300 and did not continue dropping to the 1.47700 as it had been doing,

now if the...
Blogging daily now at www.volume.zone
  • #435,745
  • May 4, 2011 9:35pm May 4, 2011 9:35pm
this is a scenario that could play out but it's purely conjecture at the moment!
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Don't have an ego. Always question yourself and your ability.
  • #435,746
  • May 4, 2011 9:36pm May 4, 2011 9:36pm
Quoting gatorinla
im looking at 4807 as a low on mine. .. i got oil ..silver gold eu gbp looking like it wants to bounce higher,,, so im short eu with 1/4 at 4851... the last Lt target for eu was 4851 i had...

bbl... maybe a another chance higher.
out @ 49... ill wait for 60 and a small candle
those who can, do. those who cant, talk about those who can
  • #435,747
  • May 4, 2011 9:44pm May 4, 2011 9:44pm
Mal speaks and eu drops instantly.. Thanks for heads up !!!
  • #435,748
  • May 4, 2011 9:44pm May 4, 2011 9:44pm
Quoting malcolmb14
CME is not a broker .. why would they panic ? ............
+ 1

Prices go up/price go down, but somehow the conspiracy theories only fly when price is going down, down, down.

Silver doubled moving higher and higher month after month but no one had a problem with that. It drops for a few days and WW III breaks out.

  • #435,749
  • May 4, 2011 9:44pm May 4, 2011 9:44pm
Quoting SunTrader
Futures exchanges are far safer (counterparty risk and protecting funds held in accounts) and legit than stock or options and especially spot forex. Not saying things don't happen. Just saying they are better than all the rest.
Sure...I agree, somewhat. But, where were they when we entered truly parabolic state a month or so ago on the way up? They've done four hikes in eight days...and not small hikes, either. A fifth comes on May 9th. Just feels like somebody would like a cap on $50. The series of hikes was obviously going to cause long liquidations...speeding the decent...so much for less volatility.

Weren't too many shorts in play before this, and when you (well, I) look at who is benefiting from the sell off the most, it just makes me say...hmmmmmmmmmmm? Not that I would ever purposely say that a market can be manipulated.


footnote: I don't trade silver on the CME, so it doesn't affect me directly.
  • #435,750
  • May 4, 2011 9:46pm May 4, 2011 9:46pm
Quoting stevefx
Interesting thoughts, thank you for them, but AU doesn't look that rosy to me.
what is it that we want to do

buy low sell high

if you look at the the red candles or in your chart the clear black candles.

then we can tell that yesterday had an increased in range which usually means panic sell.

today i believe its finding some support but that is why im scaling in

have to be careful catching a falling knife.

and by the way when it LOOKS ATTRACTIVE TO BUY= SELL!!!!!!!!!!!!!1

when price is LOW = BUY!!!!!! that is the rule of a bull market.

so far the market has not yet changed
AVT INVENIAM VIAM AVT FACIAM
  • #435,751
  • May 4, 2011 9:51pm May 4, 2011 9:51pm
i am not in a position in the euro as of now but

but im awaiting to get in around 1.48300 depending how price action looks like

i am expecting consolidation, this is not acting like a range market anymore
in my opinion.

i believe continuation north is the ultimate path

but lets await clear signs unless you are very good at scalping in volatility.


the rejection of the 1.4900's could also be a test, it had thrust, and consolidated at 1.48300 did not drop as it had before, lets just await clear signs
AVT INVENIAM VIAM AVT FACIAM
  • #435,752
  • May 4, 2011 9:52pm May 4, 2011 9:52pm
Quoting the redlion
what is it that we want to do

buy low sell high

if you look at the the red candles or in your chart the clear black candles.

then we can tell that yesterday had an increased in range which usually means panic sell.

today i believe its finding some support but that is why im scaling in

have to be careful catching a falling knife.

and by the way when it LOOKS ATTRACTIVE TO BUY= SELL!!!!!!!!!!!!!1

when price is LOW = BUY!!!!!! that is the rule of a bull market.

so far the market has not yet changed
It looks attractive to sell right now to me. All I'm saying. Whatever works for you if you can turn a buck.

How do you be careful when trying to catch a falling knife? Trying itself is not careful. Only not trying is careful.
  • #435,753
  • May 4, 2011 9:54pm May 4, 2011 9:54pm
in long at 4838.,
  • #435,754
  • May 4, 2011 9:55pm May 4, 2011 9:55pm
Quoting stevefx
It looks attractive to sell right now to me. All I'm saying. Whatever works for you if you can turn a buck.

How do you be careful when trying to catch a falling knife? Trying itself is not careful. Only not trying is careful.
i use a scale in method

buy a small lot as a scout to feel the market.

and if my scout gets trapped i rescue him on a corrective wave.

if he gets assassinated, he served his purpose, as my army still intact
AVT INVENIAM VIAM AVT FACIAM
  • #435,755
  • May 4, 2011 9:58pm May 4, 2011 9:58pm
the beast knocking on b/o door.
those who can, do. those who cant, talk about those who can
  • #435,756
  • May 4, 2011 9:58pm May 4, 2011 9:58pm
Quoting the redlion
i use a scale in method

buy a small lot as a scout to feel the market.

and if my scout gets trapped i rescue him on a corrective wave.

if he gets assassinated, he served his purpose, as my army still intact
I see where you're coming from. I've read about this method, in someone's trading journal...maybe yours? Anyway I wish you all the best with it.
  • #435,757
  • May 4, 2011 9:59pm May 4, 2011 9:59pm
Quoting SunTrader
Prices go up/price go down, but somehow the conspiracy theories only fly when price is going down, down, down.

Silver doubled moving higher and higher month after month but no one had a problem with that. It drops for a few days and WW III breaks out.
Plenty of conspiracies were flying on the way up, mate...and they will continue.

I have absolutely NO problem with prices coming down. I have stated when I have sold metals on here. I have stated a few levels I will look to add to existing positions I hold. No WWIII from me. The deeper the correction the better.

I have just never heard of this frequency and amounts of rate hikes before. Have you?
  • #435,758
  • May 4, 2011 10:00pm May 4, 2011 10:00pm
I'm just making small pips scalping the 5 min now, as it seems the thing to do.
  • #435,759
  • May 4, 2011 10:00pm May 4, 2011 10:00pm
Quoting gatorinla
the beast knocking on b/o door.
the h closed on the bear side. but just 1/2 pip
those who can, do. those who cant, talk about those who can
  • #435,760
  • May 4, 2011 10:01pm May 4, 2011 10:01pm
however if the scout is successful and the assumption correct.

especially after panic sell off, a counter buying wave happens, at which point i can scale in in fibo progression 12358... at the weakest point in price

therefore effectively maximizing profit
when im right i have 19 lots in by fibo scaling
when im wrong im down 1 lot only and can be rescued by 3 lots on a 30% retrace

so in essence i minimize my risk by not exposing my army but concentrating force on enemy weakness

that is how you are careful catching a falling knife
AVT INVENIAM VIAM AVT FACIAM
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