Feels like a setup upside, more short timeframe sellers under water than buyers. 
Freakin' test 17/18 already, getting bored.
Freakin' test 17/18 already, getting bored.
They think they are smarter than I am.
- #539,221
- Sep 16, 2011 4:49am Sep 16, 2011 4:49am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
- #539,222
- Sep 16, 2011 4:49am Sep 16, 2011 4:49am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #539,225
- Sep 16, 2011 4:52am Sep 16, 2011 4:52am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
I totally agree with Kiwi. With patience, you get more prudent and have more conviction once you're ready to trade. And you're chances of a profitable trade are highly increased.
I should've hold on to my trade short eu at 3868.
Oh well, its profit.
But we are friday...worst day of the week, like monday, tuesday, wednesday and thursday.
Best days could be saturday and sunday
COT: The precious data ignored
- #539,226
- Sep 16, 2011 4:52am Sep 16, 2011 4:52am
- Joined Aug 2009 | Status: Trader | 12,448 Posts
May have direction this 1hr close, levels all starting to squeeze
If you are new to Forex? Say Goodbye to your account!!
- #539,228
- Sep 16, 2011 4:55am Sep 16, 2011 4:55am
- Joined Aug 2011 | Status: Trader | 10,724 Posts
In my opinion you should have cleared it, or at least covered your short...i'm waiting for a retest of that area...hopefully a break of it to reach the daily breakdown of 1,3970-1,4000.
But we are friday...worst day of the week, like monday, tuesday, wednesday and thursday.
Best days could be saturday and sunday
Have I got something on my face, SOLDIER?
- #539,230
- Sep 16, 2011 4:56am Sep 16, 2011 4:56am
- Joined Aug 2011 | Status: Trader | 10,724 Posts
Have I got something on my face, SOLDIER?
- #539,233
- Sep 16, 2011 5:02am Sep 16, 2011 5:02am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #539,234
- Sep 16, 2011 5:06am Sep 16, 2011 5:06am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
Covering my longs...let's see if we see a retest of the support
It is boring....
They think they are smarter than I am.
- #539,235
- Sep 16, 2011 5:07am Sep 16, 2011 5:07am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
4 Flychenberg:
Hi. As i found your comment interesting I wanted to add one variable which affects solvency of banks and of which some may not know of.
Banks are regulated with Basel II system, which has some "holes". These holes are made on purpose and should support EU economy. One of these holes, which I see as a big problem is this:
All EU banks must have some deposit as a collateral at ECB.
Amount of such deposit is determined by set of risks which is described in Basel II.
Sovereing debt instruments are accepted by ECB as a collateral (and this is the point)
So if Greece really goes bankrupt, not only banks will suffer huge losses, but they will have to take a big part of their remaining liquidity and deposit it as a new collateral in ECB.
For example KBC has collateral of 17,96 Bn EUR of which 17,6 are just debt instruments, mainly from Greece.
T.
Hi. As i found your comment interesting I wanted to add one variable which affects solvency of banks and of which some may not know of.
Banks are regulated with Basel II system, which has some "holes". These holes are made on purpose and should support EU economy. One of these holes, which I see as a big problem is this:
All EU banks must have some deposit as a collateral at ECB.
Amount of such deposit is determined by set of risks which is described in Basel II.
Sovereing debt instruments are accepted by ECB as a collateral (and this is the point
)So if Greece really goes bankrupt, not only banks will suffer huge losses, but they will have to take a big part of their remaining liquidity and deposit it as a new collateral in ECB.
For example KBC has collateral of 17,96 Bn EUR of which 17,6 are just debt instruments, mainly from Greece.
T.
"I know one thing, that I know nothing." Sokrates
- #539,238
- Sep 16, 2011 5:12am Sep 16, 2011 5:12am
- | Joined Feb 2010 | Status: Trader | 1,085 Posts
Use me as a contrarian indicator 