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  • #437,721
  • Edited 5:39pm May 6, 2011 3:14pm | Edited 5:39pm
Quoting SirMcPip
As usual, the EU is showing the same reaction at these levels. But this time it is all about the fall of 2007(see chart attached). The fundamentals are continuing to unfold. But the issue is not the breakdown of the monetary union, its the breakdown of the political union which will be the inevitable consequence. The exit of Greece, Portugal, Ireland, if it should happen at that stage, will be sold as a positive to the "markets" and the EU will continue its rally to higher levels. It will come to an end when the political breakdown will be at...
Well honestly I won't see any political breakdown for EU. Since money governs everything including politics, once the money issue is resolved with the exiting of those free-loading countries, there shouldn't be any other issues. Eurozone would not only prosper but also expand, other financially sound countries like Sweden, Finland and Denmark who formerly stayed away or opted out of EU might even consider joining (back) EU now that they see they no longer have any deadweight to carry.
Make your losses in demo. Earn your profits live.
  • #437,722
  • May 6, 2011 3:15pm May 6, 2011 3:15pm
Quoting pipper
Hi Infinitus,

Hope recent trading is faring well with you.. I need to study EW over the next week or so to get a general understanding of it and try applying it to my trading also. I enjoy reading your analysis but have not researched EW.

Any recommended reading or sites ?
Hello Pipper, will write you an email.


Catch you later,

Markus
  • #437,723
  • May 6, 2011 3:16pm May 6, 2011 3:16pm
I would like to thank you all for the posts and comments.. they are very treasured here... have you all a good weekend,,,
  • #437,724
  • May 6, 2011 3:17pm May 6, 2011 3:17pm
Much appreciated Markus... Have a good weekend

Quoting infinitus
Hello Pipper, will write you an email.


Catch you later,

Markus
Disclaimer: Check your 1m charts
  • #437,725
  • May 6, 2011 3:20pm May 6, 2011 3:20pm
Quoting Forexia
Well honestly I won't see any political breakdown for EU. Since money governs everything including politics, once the money issue is resolved with the exiting of those free-riding countries, there shouldn't be any other issues. Eurozone would not only prosper but also expand, other financially sound countries like Sweden, Finland and Denmark who formerly stayed away or opted out of EU might even consider joining (back) EU now that they see they no longer have any deadweight to carry.
Sweden, Finland, Denmark financially sound? What are you talking about?
Your last sentence is exactly how this charade will be sold to this casino.
  • #437,726
  • May 6, 2011 3:24pm May 6, 2011 3:24pm
Still have one more target to the downside at 1.4230.... assuming it heads that direction first, I would expect a bounce from this level...
Attached Image (click to enlarge)
Click to Enlarge Name: EU.jpg Size: 191 KB
  • #437,727
  • May 6, 2011 3:25pm May 6, 2011 3:25pm
Quoting Forexia
Well honestly I won't see any political breakdown for EU. Since money governs everything including politics, once the money issue is resolved with the exiting of those free-riding countries, there shouldn't be any other issues. Eurozone would not only prosper but also expand, other financially sound countries like Sweden, Finland and Denmark who formerly stayed away or opted out of EU might even consider joining (back) EU now that they see they no longer have any deadweight to carry.
I have to agree with you. Cutting out dead wood always helps the plant to prosper and grow stronger.

I really do not see the downside except for the countries which leave.
  • #437,728
  • May 6, 2011 3:35pm May 6, 2011 3:35pm
Quoting SirMcPip
Sweden, Finland, Denmark financially sound? What are you talking about?
Your last sentence is exactly how this charade will be sold to this casino.
Everybody except Australia and New Zealand is in economic recession in more or less degree, if that's what you mean. But they don't go into massive debt that they can't manage.

These countries are prudent enough to know that you are not supposed to spend money that you don't have or cannot repay. That's what I mean.

And yes, I do believe EU will benefit greatly if countries like these join in (back).

43272 level holding btw.
Make your losses in demo. Earn your profits live.
  • #437,729
  • May 6, 2011 3:36pm May 6, 2011 3:36pm
Quoting just fibbing
Such honesty is not in keeping with the spirit of this forum.

Good luck with the recovery.
Thanks..
  • #437,730
  • May 6, 2011 3:43pm May 6, 2011 3:43pm
Quoting Chicky
How much sure? 1% or 3.5% sure?


hehe, just before a 200 pip drop

how you all cooping?
glad I left yesterday as I would probably have lost some...
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2011-05-07 at 6.42.22 AM.png Size: 33 KB
  • #437,731
  • May 6, 2011 3:54pm May 6, 2011 3:54pm
Another Bad day . no correction in Eur/Usd , loosing 500 pips in two days period . what should be next move ????????/
  • #437,732
  • May 6, 2011 3:58pm May 6, 2011 3:58pm
Quoting Pipwanderer
correction at top 4880 formed a reverse symmetrical and expanded which normally break above but this time the opposite direction touched the bottom channel 200 ema on h4. close below should take it down to 4350
4350 reached..good weekend all
  • #437,733
  • May 6, 2011 3:59pm May 6, 2011 3:59pm
Quoting cloggie

We have gotten a little group going elsewhere with likeminded traders that take making money seriously, I will be focusing on that for the near future and let this circus be. Goodbye y'all.
Cloggie, how can I PM you? I would like to join a group which is serious about learning trading. I am not a young person, so I am interested in learning properly and not wasting time to BS.

Thank you,

hammer083
  • #437,734
  • May 6, 2011 4:04pm May 6, 2011 4:04pm
Hi,

I'm new member here, I have 9 months experience in trading and average of 16 hours a day of screen time during that period. I found this forum by accident on the internet, so I hope I can share and receive lots of advices and trade set ups in near future.

Thank you
  • #437,735
  • May 6, 2011 4:05pm May 6, 2011 4:05pm
Quoting hammer083
Cloggie, how can I PM you? I would like to join a group which is serious about learning trading. I am not a young person, so I am interested in learning properly and not wasting time to BS.

Thank you,

hammer083
Ditto?
  • #437,736
  • May 6, 2011 4:22pm May 6, 2011 4:22pm
One thought for y'all going into the weekend...

This is one of those rare moments in time when you can say, "I dropped a deuce in my shorts", and not only be profitable and excited...but proud as well...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #437,737
  • May 6, 2011 4:23pm May 6, 2011 4:23pm
To trade successfully Eur/Usd pair, you need to watch simultaneously price of Crude Oil. Eur/Usd is strongly correlated with Oil.

Also, watch price of following pairs: Usd/Chf, Gbp/Usd & Usd/Jpy.

Suggested indicators:

Simple Moving Averages: 18 day, 45 day, 100 day & 200 day.

Bollinger Bands.

Slow Stochatics.

Fibbonacci Levels.

Volume indicator.
  • #437,738
  • Edited 5:32pm May 6, 2011 4:45pm | Edited 5:32pm
From Monday I'm Long Eur/Usd at Monday opening price. My stop loss is 1.4310, which around area of recent low.

TP #1: 1.4382 - if we take out this number, I'm going to move my SL to BE.

TP #2: 1.4416 - if taken out, moving my SL to TP #1.

TP #3: 1.4454 - if taken out, moving my SL to TP #2.

TP #4: 1.4525 - if taken out, moving my SL to TP #3.

TP #5: 1.4590 - if taken out, will decide for next trades.



Bearish scenario:

If my SL is taken out at 1.4310, I will place my short trades under this number, which will act for me as Resistance and Stop loss.

TPs: 1.4204, 1.4156, 1.4087, 1.4020. Will move my SL in the same manner as described in bullish scenario.

P.S.: My levels may not be perfect and to the pip, I just drew straight lines conecting levels of 2008 market and also current top and bottom movement levels. It would be great if someone can reply to my post and adjust my numbers to the pip or share his/her bias, TPs and SLs.

Thank you
  • #437,739
  • May 6, 2011 4:45pm May 6, 2011 4:45pm
Quoting Magix
One thought for y'all going into the weekend...

This is one of those rare moments in time when you can say, "I dropped a deuce in my shorts", and not only be profitable and excited...but proud as well...
Good post.
  • #437,740
  • May 6, 2011 5:06pm May 6, 2011 5:06pm
Quoting Purple
Good post.
Along with that...

Take a moment to ponder...
Attached Image
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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