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  • #513,921
  • Aug 7, 2011 7:45pm Aug 7, 2011 7:45pm
Quoting attila
How's everyone? Here is what I have as of now. A move down to 4250-60ish and then up to 4560. These are the high/low values showing on the charts. However this is one of those times when charts don't mean much with all the stuff going on. So I'll be watching only, for now. I've been flat since Friday, and that's not common for me. Anyway, GL and don't over leverage or you'll get to meet Mr. Margin.
yea im flat right now as well. I have no idea how the markets are going to react when more liquidity come in the market. I wanna wait till price reacts to supply and demand zones to get a better feel
  • #513,922
  • Aug 7, 2011 7:46pm Aug 7, 2011 7:46pm
Quoting kenfen69
Yeah, I guess...but just seems odd to me. Downgrade wasn't until markets closed. Joint statement released by Merkel/Sarkozy. Statement from ECB. Statement from G7, which is kind of funny...

* G7 Says Will Take Every Action to Stabilize Financial Markets
* G7 says it will commit to secure liquidity in market
* G7 will cooperate closely on currency market actions
* G7 says it will be in close contact next few weeks
* G7 says disorderly moves in markets hurt economy
* G7 [b]says currency rates should...
Yes, yes it does... lol. Just goes to show how much they really are talkin out their arse.
  • #513,923
  • Aug 7, 2011 7:46pm Aug 7, 2011 7:46pm
Quoting mfoste1
yea im flat right now as well. I have no idea how the markets are going to react when more liquidity come in the market. I wanna wait till price reacts to supply and demand zones to get a better feel
Good position!
  • #513,924
  • Aug 7, 2011 7:46pm Aug 7, 2011 7:46pm
then the sharp decline
  • #513,925
  • Aug 7, 2011 7:46pm Aug 7, 2011 7:46pm
Quoting Jazznos
Morning all... can anyone explain why we havent seen big moves against USD? Aside from that opening gap that came right back down? Im not a fundies trader but that would have been my expectation.... Anyone going long from here? 61.8 bounce from upmove including gap? Or are we still too uncertain and maybe bearish?

Hi Jazz according to Alan Kohler in the Standard and Poors statement it was made clear the downgrade was mainly about governance and not financial.
S and P also admitted they got their forecast for the deficit wrong by $2US trillion according to the US Treasury.
These couple of factors may be enough to soften the blow a bit so to speak.
  • #513,926
  • Aug 7, 2011 7:48pm Aug 7, 2011 7:48pm
nice 123 entry chance on aussie at the moment if someone wants to take it...
big numbers are our friends...
  • #513,927
  • Aug 7, 2011 7:49pm Aug 7, 2011 7:49pm
Quoting kenfen69

* G7 will cooperate closely on currency market actions
* G7 says currency rates should be decided by markets
"One pill makes you larger, and one pill makes you small..." J. Airplane, as sung by various European potentates.
  • #513,928
  • Aug 7, 2011 7:50pm Aug 7, 2011 7:50pm
Quoting numb nuts
then the sharp decline
For those not paying attention to the daily... we are still pointing down as long as we are under 4360'ish. Things don't move in a straight line and that is a pretty solid supply level for the moment. If we clear that bear cluster to the north, we should be looking at 4453 to start things off.

These gaps are really jacking up my charts though... getting annoying. Need someway to fill in the missing data.
  • #513,929
  • Aug 7, 2011 7:53pm Aug 7, 2011 7:53pm
Quoting siboy
Hi Jazz according to Alan Kohler in the Standard and Poors statement it was made clear the downgrade was mainly about governance and not financial.
S and P also admitted they got their forecast for the deficit wrong by $2US trillion according to the US Treasury.
These couple of factors may be enough to soften the blow a bit so to speak.
The question is what the downgrade will bring to the economy. Lower rating means higher percentage rates on debt, which will make it more expensive to pay debt. In this economy it'll only deepen the crisis. And we've already been through this before, in crisis the dollar appreciated. Which is natural. This is why I was expecting a big short on e/u. May be still to come. May be.
Trax Tibidax Tibidox...
  • #513,930
  • Aug 7, 2011 7:53pm Aug 7, 2011 7:53pm
Quoting OldQuant
"One pill makes you larger, and one pill makes you small..." J. Airplane, as sung by various European potentates.


I'm so confused, Quant...I just don't know which one to take. I'm already large...6'4"...220lbs, but don't want to be small. Really want to be any larger though, either. Goodness me...what to do???

I'll go ask Alice...I think she'll know!
  • #513,931
  • Aug 7, 2011 7:53pm Aug 7, 2011 7:53pm
Quoting Venice
For those not paying attention to the daily... we are still pointing down as long as we are under 4360'ish. Things don't move in a straight line and that is a pretty solid supply level for the moment.

These gaps are really jacking up my charts though... getting annoying. Need someway to fill in the missing data.
Im looking to short around 4340-ish.....looking for 4270 ish......then....who knows.....like Attilla mentioned....could go ape shite long/
  • #513,932
  • Aug 7, 2011 7:54pm Aug 7, 2011 7:54pm
Quoting masterpiecefx
The question is what the downgrade will bring to the economy. Lower rating means higher percentage rates on debt, which will make it more expensive to pay debt. In this economy it'll only deepen the crisis. And we've already been through this before, in crisis the dollar appreciated. Which is natural. This is why I was expecting a big short on e/u. May be still to come. May be.
Do the interest rate hikes also include savings accounts? Mine need some serious loving...

But if thats the case, less borrowing for spending, and more money into savings... hmm.
  • #513,933
  • Aug 7, 2011 7:55pm Aug 7, 2011 7:55pm
Quoting Venice
Wow, havn't been on the Aussie for a few weeks now... what the hell happened there?

Maybe i'll just start buying it again and live off the interest... lol. Maybe at 1.032.
i sold AU at 1.1050 on july 26th CPI data release, took half off at 1.0820, one of my best trades of the year so far.
  • #513,934
  • Aug 7, 2011 7:56pm Aug 7, 2011 7:56pm
Quoting Venice
Do the interest rate hikes also include savings accounts? Mine need some serious loving...

But if thats the case, less borrowing for spending, and more money into savings... hmm.
They will have to raise them, yes.
Trax Tibidax Tibidox...
  • #513,935
  • Aug 7, 2011 7:56pm Aug 7, 2011 7:56pm
It's going to go up V. Question is how high.
Quoting Venice
For those not paying attention to the daily... we are still pointing down as long as we are under 4360'ish. Things don't move in a straight line and that is a pretty solid supply level for the moment. If we clear that bear cluster to the north, we should be looking at 4453 to start things off.

These gaps are really jacking up my charts though... getting annoying. Need someway to fill in the missing data.
  • #513,936
  • Aug 7, 2011 7:57pm Aug 7, 2011 7:57pm
Quoting kenfen69
Was that answer a question?

If so...well...great! One hell of a sassy head-tilt!
thanks my right side is glorious... i dont look tough?
  • #513,937
  • Aug 7, 2011 7:58pm Aug 7, 2011 7:58pm
Quoting attila
It's going to go up V. Question is how high.
Yep. Nothing I would put my money on an overnight trade though. Just playing from zone to zone atm.

I really wish this chaos would stop. I'm ready to get back to my daily charts. My experience level can't read these cluster fawks very well. lol
  • #513,938
  • Aug 7, 2011 8:00pm Aug 7, 2011 8:00pm
nice "retracement" to fridays ny close
  • #513,939
  • Aug 7, 2011 8:02pm Aug 7, 2011 8:02pm
Quoting fxjawn
nice "retracement" to fridays ny close
Yep...didn't miss by much.
  • #513,940
  • Aug 7, 2011 8:03pm Aug 7, 2011 8:03pm
Quoting Venice
Yep. Nothing I would put my money on an overnight trade though. Just playing from zone to zone atm.

I really wish this chaos would stop. I'm ready to get back to my daily charts. My experience level can't read these cluster fawks very well. lol
If your going to be awake till 4am utc, then watch for it to start up arouind then I think, else maybe think about some suitable staged entry orders if your happy enough with your charting by then

Setting my 1st batch of limits just below 4400 (as Ill be asleep during that rise if it happens, so setting up entries) and the next batch below from there upto 4450, though Ill be around to baby sit them I expect. My first entries are really tiny though.

Thats said, might be geting first hints now, but nothing like sure enough to be even remotely interesting.

Dont think we will see much past 4450 today though.
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