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  • #500,121
  • Jul 26, 2011 11:37am Jul 26, 2011 11:37am
held beliefs....Id say we should advance heavily south from this point...lets C
  • #500,122
  • Jul 26, 2011 11:37am Jul 26, 2011 11:37am
+60 ( 5 X 12 )

+ 12.6 %

MTD +915

+ 130.9%

Compounding factor 2.1 used today

Closing for the month..this is not fun anymore
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jul. 26 20.34.jpg Size: 98 KB
" Never let the past hold the future to ransom "
  • #500,123
  • Jul 26, 2011 11:37am Jul 26, 2011 11:37am
Quoting monkey@forex
Evening all, after another day of dealing with the great unwashed public, I see my euro shorts are still drowning in the deep end...I'm still hoping for a 200-300 pip drop but euro isn't obliging!!!

Opened up a bottle of red and decided to see what is cookin here, the Mrs has friends over.

Plenty here have given a darn good overview of this pair today on the thread. Holding shorts in light of what is happening in DC is suicide on a day like today. Yes we had a good profit taking setup on the LO, but the market as a whole is dumping dollars in wholesale.

Till we get a resolution from DC, which we all expect this week don't go buying the dollar just yet.

Fundamentally there is a global shift happening this week from dollars into euros, CHF and Gold. Don't go fighting the trend here kiddo.

Look back over some of my posts from today, the ones without the banter and smileys that is, and see how I explained what is happening here fundamentally.

Quite a few good technical contributors here have given plenty of hints of what is in store here in the next few days. Go have a browse and make a decision based on what you see in your charts.
  • #500,124
  • Jul 26, 2011 11:39am Jul 26, 2011 11:39am
Quoting needpips
held beliefs....Id say we should advance heavily south from this point...lets C

24 will see some profit taking, you can count your chickens. Cloggie does not cover somewhere for no reason, however I would not see any retrace at this point of the day as a sign of a full blown reversal just yet. WE are fundie driven and only a change in fundie can change the direction here.
  • #500,125
  • Jul 26, 2011 11:39am Jul 26, 2011 11:39am
Quoting cloggie
Opened up a bottle of red and decided to see what is cookin here, the Mrs has friends over.

Plenty here have given a darn good overview of this pair today on the thread. Holding shorts in light of what is happening in DC is suicide on a day like today. Yes we had a good profit taking setup on the LO, but the market as a whole is dumping dollars in wholesale.

Till we get a resolution from DC, which we all expect this week don't go buying the dollar just yet.

Fundamentally there is a global shift happening this week from dollars into euros,...
Really good job!
RichieEU
  • #500,126
  • Jul 26, 2011 11:40am Jul 26, 2011 11:40am
Quoting needpips
Im going long the USD/CHF here at .80
Balls O Steel. She making all new lows. No longs for me without a convincing return of bulls. GL mate.!
  • #500,127
  • Jul 26, 2011 11:40am Jul 26, 2011 11:40am
Quoting pennies
That news link is now ignored by me.

Untill 2 weeks ago I was a subscriber of the Times for almost 10 years and have now cancelled my sub, I will be avoiding and ignoring the NI press like the plague.
  • #500,128
  • Jul 26, 2011 11:41am Jul 26, 2011 11:41am
Quoting needpips
Why?
The name FOX isn't enough? lol...
  • #500,129
  • Jul 26, 2011 11:41am Jul 26, 2011 11:41am
Quoting kenfen69
Well done...fart-master!

I am the Forex-God, no point arguing with it, just accept it.... http://www.smiley-lol.com/smiley/mys...evilfinger.gif
  • #500,130
  • Jul 26, 2011 11:43am Jul 26, 2011 11:43am
Quoting Venice
The name FOX isn't enough? lol...
I look at news the same as I do political parties.....all the same...just diff sheeps skin
  • #500,131
  • Jul 26, 2011 11:44am Jul 26, 2011 11:44am
Quoting cloggie
I am the Forex-God, no point arguing with it, just accept it....
  • #500,132
  • Jul 26, 2011 11:45am Jul 26, 2011 11:45am
Quoting needpips
I look at news the same as I do political parties.....all the same...just diff sheeps skin
Yeah; mostly just trife anyways... although I do enjoy Jon Stuart and Stephen Colbert. That's my type of news.
  • #500,133
  • Jul 26, 2011 11:47am Jul 26, 2011 11:47am
Quoting Venice
Yeah; mostly just trife anyways... although I do enjoy Jon Stuart and Stephen Colbert. That's my type of news.
I enjoy them also, I think it is because they don't really have a scandalous objective besides making jokes and having more viewers.
I gotta dollar .. I gotta dollar .. I gotta dollar .. HEY HEY HEY HEY
  • #500,134
  • Jul 26, 2011 11:47am Jul 26, 2011 11:47am
Nice Cloggie.. What's your timeframe for levels - hopefully asks

Quoting cloggie
24 will see some profit taking, you can count your chickens. Cloggie does not cover somewhere for no reason, however I would not see any retrace at this point of the day as a sign of a full blown reversal just yet. WE are fundie driven and only a change in fundie can change the direction here.
Disclaimer: Check your 1m charts
  • #500,135
  • Jul 26, 2011 11:48am Jul 26, 2011 11:48am
There are deeper fundamentals. Perhaps, one should just rely on the chart.

40% of the world's debts are still dollar denominated. A shortage caused by even temporary default would have a catastrophic domino effect?? jmo
Ah Luv the smell of a good prediction in the mornin!
  • #500,136
  • Jul 26, 2011 11:49am Jul 26, 2011 11:49am
Quoting Artcritique
There are deeper fundamentals. Perhaps, one should just rely on the chart.

40% of the world's debts are still dollar denominated. A shortage caused by even temporary default would have a catastrophic domino effect?? jmo

A super liquidity crisis....much worse than the 2007-08
  • #500,137
  • Jul 26, 2011 11:52am Jul 26, 2011 11:52am
Quoting pipper
Nice Cloggie.. What's your timeframe for levels - hopefully asks

I got what I wanted out of the day, 24. We will see profit taking here, guaranteed. I posted my next 2 levels earlier today, as to timeframe on both of those, I tend to take time out of the equation, other then specific daily occurences, opens, closes, fixes, etc.

Without a fundie trigger this will continue, just a matter of you guys to figure out from where. Price never moves in a straight line and will give plenty of opportunities to either join in the party or cover losing trades at very obvious price levels and patterns.

Will I be buying dollars in any of the crosses? No, unless there is a clear retrace triggered by obvious time events, such as the LO today.

For most noobies, sticking with the trend and buying obvious dips makes a heck of a lot more sense then try to fight this run.
  • #500,138
  • Jul 26, 2011 11:56am Jul 26, 2011 11:56am
Hold onto your fakking hats if this has truth...

Veto Threat!
  • #500,139
  • Jul 26, 2011 11:56am Jul 26, 2011 11:56am
Quoting needpips
A super liquidity crisis....much worse than the 2007-08

Absolutely. Just keep in mind that the euro at these levels is hurting big time also. We have been in a race of the ugly sisters all year and with ECB raising rates, and halfheartedly sorting out the debt issue, coupled with the mess in DC should tell anyone not to buy the dollar. How long is this going to last? Till we have a solution from DC, simples. The longer the can is kicked down the road over there, the better it will be for the dollar.

Defaulting on T-bills will bring back 1920's style recession as intrabank cashflow will dry up overnight and all receivables from any of the CB's will have to be called in immediately. This would be a mess that the world is not ready for. 07 bailouts would dwarf in comparison and the major economies just don't have the cash to do anything about it.

We will see a resolution of the debt crisis this week, everybody knows that, they are just playing games for political gain.
  • #500,140
  • Jul 26, 2011 11:59am Jul 26, 2011 11:59am
Cheers Cloggie. I had 24 as a 61.8

Quoting cloggie
I got what I wanted out of the day, 24. We will see profit taking here, guaranteed. I posted my next 2 levels earlier today, as to timeframe on both of those, I tend to take time out of the equation, other then specific daily occurences, opens, closes, fixes, etc.

Without a fundie trigger this will continue, just a matter of you guys to figure out from where. Price never moves in a straight line and will give plenty of opportunities to either join in the party or cover losing trades at very obvious price levels and patterns.

Will I be buying...
Disclaimer: Check your 1m charts
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