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  • #507,201
  • Aug 2, 2011 3:37pm Aug 2, 2011 3:37pm
Quoting sisse
Well from a strictly TA point of view, Euro can get hammered as early as Tokyo session but there is BOJ intervention around the corner that will cause shock waves around all pairs.

Ironically, with all the bad news on the EZ bears have consistently failed to make a clean break on the weekly the last 3 months and the trigger may come from the other side of the pair...we'll see

sisse
Don't buy into the BOJ intervention bs just yet. There are a variety of things going on which is likely to avert or delay the intervention. First off the debt ceiling has been agreed upon and Fitch has reaffirmed A3 for USA. Moodys & S&P have yet to come out with something. Euro zone still in the gutter and with Spain & Italy likely needing a bailout, there is lots of room still for the Euro to fall. It would be stupid of BOJ to intervene at any level prior to further slumps in USD and Euro value.
  • #507,202
  • Aug 2, 2011 3:39pm Aug 2, 2011 3:39pm
Quoting bguguen
are you serious?? im a trader with many open position running at the time... i got shorts all the way back from 1.45 and stuff.... 1.42 is another level for me to enter shorts... in the long term expecting EURUSD to touch bottom of the weekly bearish trendline, will be aiming for 1.40
..
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I gotta dollar .. I gotta dollar .. I gotta dollar .. HEY HEY HEY HEY
  • #507,203
  • Aug 2, 2011 3:43pm Aug 2, 2011 3:43pm
Big BUMP in USD coming!! HUGE BUMP! OHH YA! mmmmmmmmmm
Don't be fooled by randomness
  • #507,204
  • Aug 2, 2011 3:44pm Aug 2, 2011 3:44pm
YM is took a bit of the dive. Wonder if the EU will follow?
  • #507,205
  • Aug 2, 2011 3:46pm Aug 2, 2011 3:46pm
Quoting PipChick
YM is took a bit of the dive. Wonder if the EU will follow?
what the hell is YM? Dow?
Look Sharp/Trade Tight
  • #507,206
  • Aug 2, 2011 3:46pm Aug 2, 2011 3:46pm
Quoting frothy
Big BUMP in USD coming!! HUGE BUMP! OHH YA! mmmmmmmmmm
by bumb u mean...?
  • #507,207
  • Aug 2, 2011 3:47pm Aug 2, 2011 3:47pm
Quoting PayTheLimit
what the hell is YM? Dow?
Futures..thats what I watch when the dow is closed
  • #507,208
  • Aug 2, 2011 3:48pm Aug 2, 2011 3:48pm
Quoting Twee
Hi Folks! Just want to clear up some misinformation that our friend Cloggie is spreading.

FF's Sessions product is based on Oanda's published hours. Since Forex has no official hours, everyone has their own interpretation. We choose to follow Oanda since they are the most legitimate source that publishes market hours.

You can read more about our sessions product in the user guide: http://www.forexfactory.com/userguide.php#sessions



Additionally, contrary to Cloggie's claim, we do have several very experienced traders on the...
Just checking in on the roll, and couldn't really miss your post, must have been the most quoted one of the day.

OK, here we go. Opening hours.

FX is a 24 hour business and per se has no opening or closing hours, you got it, not even on the weekends if you get a proper feed.

I have been in this business for 20 years and among Spot traders it is universally accepted to use the main equity bourses as the corresponding opening hours of each market.

Why is that, why would we as FX traders be so interested in the equity markets. Well, the amount of money traded in currency pairs on a day-by-day basis is huge, in the trillions, and we are always interested in at what time of the day those volumes traded change significantly to either use as a breakout setup or to dampen the spikes caused by less liquid market hours.

It is generally accepted that London is the centre of the FX trading world, check the latest BIS report, here. It shows that London is responsible for 38% of FX turnover with NY second at 18%.

Now knowing that it would be good to set a time for the London "open" and FX traders have for decades used the LSE times as those opens 0800-1630 BST, 0700-1530GMT. FF reports London as 0800-1700. That is "wrong". With London closing at 1630 and a fair good percentage of the traders going home at 1630, plus the drying up of equity related money flows, a FX trader better be aware of the 1630 time instead.

The same goes for NY, FF reports it as 0800, but every FX trader uses the NY open of 0930, that's when the equity capital flows start.

Using 0800 for London and 0930 for NY, gives the trader an edge as to breakout, correlation and capital flow trading.

So in summary, is FF wrong, maybe not entirely, but are they correct? No. and that is the distinction.

So as traders, ignore the FF open times and use 0800-1630 for London and 0930-1700 for NY. Twee and I will agree to disagree.

For us traders on the coal face, ignore FF and use the equity hours.
  • #507,209
  • Aug 2, 2011 3:48pm Aug 2, 2011 3:48pm
Quoting pennies
..
lol ASIA's MY territory, so if you even dare think about crossing me, i will FUCK YOU UP!!! oh Les Grossman, epic....

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We live in a finite world with infinite possibilities.
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  • #507,210
  • Aug 2, 2011 3:49pm Aug 2, 2011 3:49pm
Quoting PipChick
Futures..thats what I watch when the dow is closed
thats what I thought, did I ever tell you the story of how I hate the Dow futures.......
Look Sharp/Trade Tight
  • #507,211
  • Aug 2, 2011 3:49pm Aug 2, 2011 3:49pm
rumor that France is the next shoe to drop in the Euro zone?
Trade what you see, not what you think!
  • #507,212
  • Aug 2, 2011 3:50pm Aug 2, 2011 3:50pm
Quoting PayTheLimit
thats what I thought, did I ever tell you the story of how I hate the Dow futures.......
LOL noooo you left that out.
  • #507,213
  • Aug 2, 2011 3:51pm Aug 2, 2011 3:51pm
4202 would be a very good roll for me here.
  • #507,214
  • Aug 2, 2011 3:51pm Aug 2, 2011 3:51pm
Quoting Unknownpips
Don't buy into the BOJ intervention bs just yet. There are a variety of things going on which is likely to avert or delay the intervention. First off the debt ceiling has been agreed upon and Fitch has reaffirmed A3 for USA. Moodys & S&P have yet to come out with something. Euro zone still in the gutter and with Spain & Italy likely needing a bailout, there is lots of room still for the Euro to fall. It would be stupid of BOJ to intervene at any level prior to further slumps in USD and Euro value.
Well I don't really agree with you. IMO, the debt ceiling was pure political mumbojumbo and I think markets are more concern in the US (around the world I would say) about the consistent pathetic numbers coming from the US since QE2 ended and they are putting all the guns on the NFP as last resource before they pull the trigger.

On Italy and Spain I think you maybe jumping the gun mate. Spain and Italy are nowhere near bailouts. However, agree that debt risk contagion with the added US economic sluggishness is spreading out of control.

On the BOJ I completely disagree. Yen has no more room for maneuver. The last 2 decades since Japan entered in the never ending depression. 80.xx is the max level in which Japan economy can stand without a complete debacle (and is not only my personal opinion but publicly every single analyst across the globe, finance minister and prime minister in Japan ). Last intervention during the last earthquake was same level..... We are trading at 77.xx and thats a ticking bomb and it wont last a bad NFP alone.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #507,215
  • Aug 2, 2011 3:52pm Aug 2, 2011 3:52pm
http://img843.imageshack.us/img843/1546/chaosj.gif

Cleanup time !
  • #507,216
  • Aug 2, 2011 3:53pm Aug 2, 2011 3:53pm
Is this the chart you use to trade?

Quoting Robertk
http://img843.imageshack.us/img843/1546/chaosj.gif

Cleanup time !
  • #507,217
  • Aug 2, 2011 3:54pm Aug 2, 2011 3:54pm
Quoting PayTheLimit
no one said you dont work dude, and I like a giggle as much as the next guy, but your wearing it out brother..thats all...
That's what she said.

Buwahahahahahahaha

Whut up bitches?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #507,218
  • Aug 2, 2011 3:54pm Aug 2, 2011 3:54pm
Quoting PipChick
LOL noooo you left that out.
lol...
Look Sharp/Trade Tight
  • #507,219
  • Aug 2, 2011 3:55pm Aug 2, 2011 3:55pm
Quoting Magix
That's what she said.

Buwahahahahahahaha

Whut up bitches?
bastard...

what up brother, where you been,,in your beer cooler?
Look Sharp/Trade Tight
  • #507,220
  • Aug 2, 2011 3:56pm Aug 2, 2011 3:56pm
Quoting cloggie
.
your so composed, I barely recognize you...
Look Sharp/Trade Tight
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