DislikedHi all,
Closed half of my EJ long (chart attached) for a quick scalp. Look for a retest.Ignored
Attached Image (click to enlarge)
Trade with the momentum
- #13,623
- Jun 1, 2011 4:25am Jun 1, 2011 4:25am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Thank You 
- #13,624
- Jun 1, 2011 4:54am Jun 1, 2011 4:54am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Thank You
- #13,626
- Jun 1, 2011 5:42am Jun 1, 2011 5:42am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
took 3 trades:-
trying to do a wormie here
hope they work out..all on the fly
trying to do a wormie here
hope they work out..all on the fly
- #13,627
- Jun 1, 2011 6:01am Jun 1, 2011 6:01am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #13,628
- Jun 1, 2011 6:20am Jun 1, 2011 6:20am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
I don't want a job, i want money!
- #13,629
- Jun 1, 2011 6:57am Jun 1, 2011 6:57am
- | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
- #13,630
- Jun 1, 2011 7:25am Jun 1, 2011 7:25am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Thank You
- #13,631
- Jun 1, 2011 7:25am Jun 1, 2011 7:25am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
I don't want a job, i want money!
- #13,633
- Jun 1, 2011 7:48am Jun 1, 2011 7:48am
- | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Was trying to be the psychic who sees the future.... 
Though day is still young, But It's 3rd day and we cannot even close below the large bull candle. Same what happened with Euro falling 3 (which turned falling 4 then tank'd badly)...
Though day is still young, But It's 3rd day and we cannot even close below the large bull candle. Same what happened with Euro falling 3 (which turned falling 4 then tank'd badly)...
no bro, rising three needs tomorrow's close.to be bullish at least @520
- #13,634
- Jun 1, 2011 7:49am Jun 1, 2011 7:49am
- | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
But that'll be too late then wouldn't it...
Still safe then be sorry approach that one.
Still safe then be sorry approach that one.
ams
I believe you need a bullish candle closing above the 1st bullish candle to validate the pattern as per enclosed
cheers
- #13,635
- Jun 1, 2011 7:59am Jun 1, 2011 7:59am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
Was trying to be the psychic who sees the future....
Though day is still young, But It's 3rd day and we cannot even close below the large bull candle. Same what happened with Euro falling 3 (which turned falling 4 then tank'd badly)...
how about the sex of the baby before he is even born???
eheh sorry dude couldn't resist...
I don't want a job, i want money!
- #13,636
- Jun 1, 2011 8:25am Jun 1, 2011 8:25am
- | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
yep, exactly same as we experienced before on euro.....
Though it took it's time, day longer then anticipated but it was predicted 2 days beforehand
We ain't going down, we are going UP...Dollar is screwed, they use it as a toilet paper in the US now a days, more then 1 trillion is printed on top of 12 trillion in existence..we want QE2 continuation or QE3
Mark my posts...OIL goes up dollar go down, OIL goes down dollar goes UP, that's it....when I last posted I mentioned about my trader mate who advised to keep an eye on it. We were ranging from 96-100 now we it's 100-103. Not bullish but range broken nevertheless.
Though it took it's time, day longer then anticipated but it was predicted 2 days beforehand
We ain't going down, we are going UP...Dollar is screwed, they use it as a toilet paper in the US now a days, more then 1 trillion is printed on top of 12 trillion in existence..we want QE2 continuation or QE3
Mark my posts...OIL goes up dollar go down, OIL goes down dollar goes UP, that's it....when I last posted I mentioned about my trader mate who advised to keep an eye on it. We were ranging from 96-100 now we it's 100-103. Not bullish but range broken nevertheless.
how about the sex of the baby before he is even born???
eheh sorry dude couldn't resist...
- #13,637
- Jun 1, 2011 8:55am Jun 1, 2011 8:55am
yep, exactly same as we experienced before on euro.....
Though it took it's time, day longer then anticipated but it was predicted 2 days beforehand
We ain't going down, we are going UP...Dollar is screwed, they use it as a toilet paper in the US now a days, more then 1 trillion is printed on top of 12 trillion in existence..we want QE2 continuation or QE3
Mark my posts...OIL goes up dollar go down, OIL goes down dollar goes UP, that's it....when I last posted I mentioned about my trader mate who advised to keep an eye on it. We...
keep in mind however that Europe is in no better shape than the U.S. (and I believe they are in worse off shape) - what with problems in Greece, disagreement between Germany and other countries, unemployment rate high and general differing in goals.
USD has been pushed down due to QE and QE II - which is supposed to end in June. Is the U.S. preparing for QE III? I think it is unlikely as the American people have had enough of cheap money flooding the financial system (but then again who knows?)
I know that statistically speaking most of the world is short USD meaning that all that is needed is a small change in direction to force a large short squeeze - if we are talking fundamentally, I would rather be long USD than long EUR... but then again fundamentals alone have rarely helped me trade!
Money is the result derived from the execution of a skillset
- #13,638
- Edited 9:29am Jun 1, 2011 9:09am | Edited 9:29am
- | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Fundamentally, I agree to what you are saying but do not forget...
To do a squeeze, you have to be terribly big enough (10 times the size of G Sachs), as people who are short are no smaller, they are large hedge funds, investment banks etc they ain't gonna let you ride them easy. Having said that, as we have seen in the past few weeks. Smart money has already cut the exposure to short dollar positions and commodities. TBH, my chart tells me to go long not short at this stage and that's what I've been doing, long S&P 1320, pound, euro, aussie with small SL to minimise risk and it paid as I got out with some left. Europe with all it's trouble is much better then US (when I say europe, I mean germany, france, rest can be kicked at will when required). Exchange rate itself is the prime exmaple of this, so no arguments there
Also, it's not just the debt US has to worry about, Job growth, falling wages, inflation etc...everything you name it. With wealth transfer happening all-over the world due to emerging markets taking over, it's not easy to create jobs. Why would a US company have products manufactured in the US or UK or Europe or IT managed in-house when they can get it for cheap and no overheads from China / India?
Tables have turned now, West is no more the king. It's more in-line for serving the emerging markets for as long as they develope. Hence they'll provide the job growth in those markets at cost of local jobs.
USA:- No Jobs = No Spending = No VAT = No Tax (individual or corporation as emerging markets get that too being their companies based offshore) = More Debt. Simple as that :-)
Emerging Markets:- More Jobs = More Spending = More VAT = More Tax (individual & corporation as offshore companies have offices based) = Less Debt, More money in treasury. Simple as that :-)
Europe:- Don't do much outsourcing - Why??? Language barrier and cheap labour within, hence in much better shape then the US. Funny but true!!
To do a squeeze, you have to be terribly big enough (10 times the size of G Sachs), as people who are short are no smaller, they are large hedge funds, investment banks etc they ain't gonna let you ride them easy. Having said that, as we have seen in the past few weeks. Smart money has already cut the exposure to short dollar positions and commodities. TBH, my chart tells me to go long not short at this stage and that's what I've been doing, long S&P 1320, pound, euro, aussie with small SL to minimise risk and it paid as I got out with some left. Europe with all it's trouble is much better then US (when I say europe, I mean germany, france, rest can be kicked at will when required). Exchange rate itself is the prime exmaple of this, so no arguments there
Also, it's not just the debt US has to worry about, Job growth, falling wages, inflation etc...everything you name it. With wealth transfer happening all-over the world due to emerging markets taking over, it's not easy to create jobs. Why would a US company have products manufactured in the US or UK or Europe or IT managed in-house when they can get it for cheap and no overheads from China / India?
Tables have turned now, West is no more the king. It's more in-line for serving the emerging markets for as long as they develope. Hence they'll provide the job growth in those markets at cost of local jobs.
USA:- No Jobs = No Spending = No VAT = No Tax (individual or corporation as emerging markets get that too being their companies based offshore) = More Debt. Simple as that :-)
Emerging Markets:- More Jobs = More Spending = More VAT = More Tax (individual & corporation as offshore companies have offices based) = Less Debt, More money in treasury. Simple as that :-)
Europe:- Don't do much outsourcing - Why??? Language barrier and cheap labour within, hence in much better shape then the US. Funny but true!!
Hi ams,
keep in mind however that Europe is in no better shape than the U.S. (and I believe they are in worse off shape) - what with problems in Greece, disagreement between Germany and other countries, unemployment rate high and general differing in goals.
USD has been pushed down due to QE and QE II - which is supposed to end in June. Is the U.S. preparing for QE III? I think it is unlikely as the American people have had enough of cheap money flooding the financial system (but then again who knows?)
I know that statistically speaking most...
- #13,640
- Jun 1, 2011 9:40am Jun 1, 2011 9:40am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Thank You