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  • #486,281
  • Jul 11, 2011 9:29pm Jul 11, 2011 9:29pm
Quoting mfoste1
a close below 3906(200dma) would bring trouble that you speak of. It certainly looks to be in the cards today. Btw gator, you been watching copper?
all i c is techs.. the pair don't care about our lines. just pauses
those who can, do. those who cant, talk about those who can
  • #486,282
  • Jul 11, 2011 9:31pm Jul 11, 2011 9:31pm
Quoting pkimnyc
2c. when trend is down, ignore os. just focus on ob.

Yes, can be hard to fight the commercials in this game. Awaiting a small pullback before selling is a good strategy... Or just sell and come back in 60 days...
  • #486,283
  • Jul 11, 2011 9:32pm Jul 11, 2011 9:32pm
Quoting mfoste1
a close below 3906(200dma) would bring trouble that you speak of. It certainly looks to be in the cards today. Btw gator, you been watching copper?
HI mate,
Are You saying that we might see 1.3300 today?

cheers,
Seb
  • #486,284
  • Jul 11, 2011 9:33pm Jul 11, 2011 9:33pm
Quoting Flynchenberg
HI mate,
Are You saying that we might see 1.3300 today?

cheers,
Seb

haha no thats a ways away. im saying we could close below 3906. That would greatly cause LT bulls to throw in the towel, causing liquidation.
  • #486,285
  • Jul 11, 2011 9:34pm Jul 11, 2011 9:34pm
Covered the loss & gained little profit with the help of standard lot. All closed, just a single short left. will close it sooner.
Hope
  • #486,286
  • Jul 11, 2011 9:35pm Jul 11, 2011 9:35pm
Quoting disegnosys
True, makes you wonder, and Ben last saying he doesn't have a clue why and how to fix it.

Hell, even I can tell you. In the medium run, the concept of money(additional liquidity) is neutral, meaning that employment CANNOT be boosted. This is why: as addtional liquidity is introduced, it raises the markup prices for businesses. So if profit margins are compressed, firms will cease hiring and REAL WAGES will decrease.

So consumers loose purchasing power so consumer spending falls. Tax revenues decrease due to loss of employment and big tax breaks. Government spending has obviously increased greatly. These are all the components for a severe recession....
  • #486,287
  • Jul 11, 2011 9:35pm Jul 11, 2011 9:35pm
Quoting Larseg
Yes, USD-Bear is hard to copy.. not sure what he is looking at when he posts against many of us and scores...
Wasn't USD-Bear, but I did post that question to him during summer session trading cable last year.....

He had a similar trend line drawn on a chart and was going to wait some 300-500 pips for price to get there and look to take longs from there...

When it sailed right past, I renewed my question...

If somebody knows, with 100% certainty that price will touch a certain spot, it stands to reason that they trade towards it, not assume that some magical point or colored line on a chart will stop a speeding bullet...

My biggest issue with trendline traders, is that a lot of them, simply do not understand how to use them...that fancy little thing we see everyday, called a "BREAKOUT" is what we look to trade....that's where the money is, not sitting on your hands waiting to take a really bad position...

Just my dos centavos...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #486,288
  • Jul 11, 2011 9:35pm Jul 11, 2011 9:35pm
Quoting Larseg
Yes, can be hard to fight the commercials in this game. Awaiting a small pullback before selling is a good strategy... Or just sell and come back in 60 days...
either way works fine for me.
  • #486,289
  • Jul 11, 2011 9:36pm Jul 11, 2011 9:36pm
Quoting mfoste1
haha no thats a ways away. im saying we could close below 3906. That would greatly cause LT bulls to throw in the towel, causing liquidation.
haha so I'm still dreaming , lol



Seb
  • #486,290
  • Jul 11, 2011 9:36pm Jul 11, 2011 9:36pm
Quoting mfoste1
haha no thats a ways away. im saying we could close below 3906. That would greatly cause LT bulls to throw in the towel, causing liquidation.

Hi guys
just looked at the market... crazyyyy..

Not laughing,.... but ... just asking how many of u are thinking to go long for a retraction here

... reason... i see 5 wave completion on 30 min chart
and the price is on the channel bottom .. will post a image ...in a bit
  • #486,291
  • Jul 11, 2011 9:39pm Jul 11, 2011 9:39pm
Quoting kenfen69
Can't be too hard on the guy. He's basically playing probability and statistics. But...

I, too, questioned him when he said chance of breaking 1.40 was 5% yesterday. I asked if he knew the odds of a black swan flying past my window? Didn't get a response...and hours later 1.40 was broken.

Sometimes fundamentals just cannot be ignored. Yesterday was proof of that.
So true, in days like these you shouldn't be surprised of black swans smashing against your windows, all about fundies and it was as clear as can be after disastrous NFP.
No point looking at any levels when there's no demand to speak of.
Don't get mad, get even!
  • #486,292
  • Jul 11, 2011 9:39pm Jul 11, 2011 9:39pm
Quoting harora
Hi guys
just looked at the market... crazyyyy..

Not laughing,.... but ... just asking how many of u are thinking to go long for a retraction here

... reason... i see 5 wave completion on 30 min chart
and the price is on the channel bottom .. will post a image ...in a bit
Dont fight warranted selloffs. wait for the ST trend to change then get long on a retracement. top and bottom picking is for schmucks IMO. However on my 8H chart we will have done 3 standard devs at 3924, but like i said top and bottom picking is not a profitable strategy.
  • #486,293
  • Jul 11, 2011 9:39pm Jul 11, 2011 9:39pm
Gator....great calls today.....and you too RAZA


Anyways, what do you have for a bounce or resistance? I'm thinking a retrace to 3985?
  • #486,294
  • Jul 11, 2011 9:40pm Jul 11, 2011 9:40pm
Quoting chazzle
long 939 looking to retest 969 sl 909
sl moved to b/e - risky
  • #486,295
  • Jul 11, 2011 9:41pm Jul 11, 2011 9:41pm
woooooooo strong sign for US Dollar, greenback is coming back with strong UP. everything is down except JPY and CHF. Hope this momentum will continue by today. also euro breach 200EMA line.... sign of this currency will go bearish.....
Attached Image (click to enlarge)
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There is Time for Bull, and Time for Bear. and so be the Wolf.
  • #486,296
  • Jul 11, 2011 9:44pm Jul 11, 2011 9:44pm
Hello all..Just some of my thoughts about the current trend..
since we have finally break the bottom of the triangle...for the rest of the week we may expect some more downward movement...

1st chart is a weekly chart shows we might be in a downward channel and next area we find support maybe the rising trendline from April 2010..

2nd chart the daily chart will make this a bit more clear, we may find support at around 1.3690 - 1.3700 area...

the 3rd chart also shows that area might provide some support since it is 61.8% fibbo since Jan...
Attached Image(s) (click to enlarge)
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Patience, Emotion Control and Discipline.
  • #486,297
  • Jul 11, 2011 9:45pm Jul 11, 2011 9:45pm
Thanks for the info. I just don't feel good about everything that's been going on in these past years. Housing will also take years to come around too.


Quoting mfoste1
Hell, even I can tell you. In the medium run, the concept of money(additional liquidity) is neutral, meaning that employment CANNOT be boosted. This is why: as addtional liquidity is introduced, it raises the markup prices for businesses. So if profit margins are compressed, firms will cease hiring and REAL WAGES will decrease.

So consumers loose purchasing power so consumer spending falls. Tax revenues decrease due to loss of employment and big tax breaks. Government spending has obviously increased greatly. These are all the components...
  • #486,298
  • Jul 11, 2011 9:46pm Jul 11, 2011 9:46pm
good progress for 3889..

Attached Image
  • #486,299
  • Jul 11, 2011 9:46pm Jul 11, 2011 9:46pm
Quoting harora
Hi guys
just looked at the market... crazyyyy..

Not laughing,.... but ... just asking how many of u are thinking to go long for a retraction here

... reason... i see 5 wave completion on 30 min chart
and the price is on the channel bottom .. will post a image ...in a bit
well, take a look at the daily candle we got on monday and ask yourself if you want to go long....
  • #486,300
  • Jul 11, 2011 9:46pm Jul 11, 2011 9:46pm
Quoting stulic
So true, in days like these you shouldn't be surprised of black swans smashing against your windows, all about fundies and it was as clear as can be after disastrous NFP.
No point looking at any levels when there's no demand to speak of.
Actually...just looked back...

It was 1.41 that he said had a 5% chance of being broken! What would that have made 1.40's odds?

http://www.forexfactory.com/showthre...49#post4766549

Can NEVER believe something to be true in this game. You'll get played.
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