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EurAnalysis Kindergarten 24 replies

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  • #3,141
  • Oct 17, 2011 1:22pm Oct 17, 2011 1:22pm
well im gonna have to say that this looks like some kind of complex pullback on the lower tf's, this is why i hate the first of the week, makes watching the grass grow exciting. no need for any technical mombo jumbo at this point we are all aware of the levels and what the market is doing at these levels, no Obama money printing approval as of yet, no reason to go any higher as of yet, and plenty of stops below and very few above, i see absolutley zero reason for the euro to rise anymore... unless im missing something?????? zzzzzzzzzzzzzzz wake me up when i can retire
  • #3,142
  • Oct 17, 2011 1:25pm Oct 17, 2011 1:25pm
the smartest thing for the greek's is to default and abandon the euro zone, they will NEVER and i do mean NEVER be able to pay back these loans.. Time to give up the fluffy dream of a structurally sound euro..it was a bad idea from the start.. and an even worse idea to try and save it
  • #3,143
  • Oct 17, 2011 1:29pm Oct 17, 2011 1:29pm
Quoting MotownPhill
the smartest thing for the greek's is to default and abandon the euro zone, they will NEVER and i do mean NEVER be able to pay back these loans.. Time to give up the fluffy dream of a structurally sound euro..it was a bad idea from the start.. and an even worse idea to try and save it
well if tthe thing is governments and the IMF, and parties like that are supposed to keep people calm, avert attention etc. They need to keep calm and as easy transition (which is really not viable so far) to 'breakeven'. Yet their people do not support austerity measures. The governments also know tha defaulting greece would mean drop in markets, and major sell-offs and creating a domino-effect for rest of europe, investors would definitely shy away, knowing spain or italy might be their next candidate.
Have I got something on my face, SOLDIER?
  • #3,144
  • Oct 17, 2011 1:29pm Oct 17, 2011 1:29pm
Quoting MotownPhill
the smartest thing for the greek's is to default and abandon the euro zone, they will NEVER and i do mean NEVER be able to pay back these loans.. Time to give up the fluffy dream of a structurally sound euro..it was a bad idea from the start.. and an even worse idea to try and save it
It would be better in the long run I imagine but they don't want to bite the bullet and face a temporary government shut down.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #3,145
  • Oct 17, 2011 1:39pm Oct 17, 2011 1:39pm
very true bump, but my way is the old way of being brave and just ripping off the band aid, the way they are going about things and this is'nt just europe this is america also where i live , is very decieving and is just making the problem worse, its esentially adding insult to injury, ive tried to explain the situation to friends and family and they think im some kind of conspiracy nut lol.. i dont want the markets to collapse but in my honest opinion its imminent at this point whether we all go to the poor house in 2 years or 2 months does'nt matter.i think its better to to get things over with and rebuild and move on, not drag them out with pipe dreams and fluff,Europeans and Americans are sturdy people and need this too spur them on, it will create where creation has been stagnate, it will inspire where there was no inspiration. Anyways this is just my person view, no one wants to give up their "lifestyle".. but hey change is a bitch
  • #3,146
  • Oct 17, 2011 1:40pm Oct 17, 2011 1:40pm
Quoting PipKiller
And she's right at the top of a range she's been trading in for 3 months too.

Your target @ the 1.3685 pivot low is in the same hourly demand area I'm targeting @ 1.3710.

As much as the E$ can run 100+ pips at a shot, I'm considering pulling half @ target, move SL down to BE or better and letting the other half run to the next zone around 1.3610 where the rally north was much stronger than the pivot @ 1.3685

Or am I getting greedy...... Your thought's?

Attachment
Hang i there Bubba. The sea is full of shrimp and we're gonna get them all.
If the market is handing it to you on a silver platter, take it
Those who say it cannot be done should not interrupt those who are doing it
  • #3,147
  • Oct 17, 2011 1:45pm Oct 17, 2011 1:45pm
We need today bar close below the orange mark in order to confirm this might be continues down pattern or not (Bearish outside Bar)..we are close to it...however we are still in the middle pattern,so if you guys want jumps then please trade wisely
Attached Image (click to enlarge)
Click to Enlarge Name: EU Daily.png Size: 32 KB
If there was easy money lying around,no one would be forcing it into your
  • #3,148
  • Oct 17, 2011 1:47pm Oct 17, 2011 1:47pm
the 2nd leg of most runs is typically the largest , so that being said aim your sites where ya want but i think this could be more then we think right now...1 hour pull back was extremly weak,im looking for some serious excelleration here.
  • #3,149
  • Oct 17, 2011 1:52pm Oct 17, 2011 1:52pm
Quoting MotownPhill
the 2nd leg of most runs is typically the largest , so that being said aim your sites where ya want but i think this could be more then we think right now...1 hour pull back was extremly weak,im looking for some serious excelleration here.
I agree it is usually the longest but technically the rule is that the second leg is not the shortest.
Anyway, just being technical old me
I'm still setting my sights on much lower though
Those who say it cannot be done should not interrupt those who are doing it
  • #3,150
  • Oct 17, 2011 1:56pm Oct 17, 2011 1:56pm
Yes, this low volume is killing me waiting for a drop in this conditions is boring. And frustrating.
  • #3,151
  • Oct 17, 2011 1:58pm Oct 17, 2011 1:58pm
lol say it however ya want PP , my prediction is simply this from a technical ,emotional point of view, we head down to 3550 level, form a inverted h&d on the daily chart , obama's genius admin finds yet another way to print to prop up market and its up from there.. keep riding the fluff train to the poor house, het if something works stick with it, if it dont work really stick with it.
  • #3,152
  • Oct 17, 2011 2:02pm Oct 17, 2011 2:02pm
Quoting PipTrapper
Hang i there Bubba. The sea is full of shrimp and we're gonna get them all.
If the market is handing it to you on a silver platter, take it
Great quote.

I'm sitting here going over in my mind that I'm up 4% for the week already with yesterdays day trade and only 2% risked of the weeks beginning capitol on this one. I have a decent entry that held on the retest of the breakout so I really have nothing to lose by hanging on to the whole piece for bigger swing with my little hammer.

Talk of stops building below @ 1.3720/25 too
I don't care which way the market is going as long as it's going my way
  • #3,153
  • Oct 17, 2011 2:04pm Oct 17, 2011 2:04pm
E/U and Dollar Index
Self explanatory
It's all in the charts today
It is low volume so it's not a major sell-off but that's how the big reversal started out last Monday till the shorts got stopped out.
Now we just have to wait for the longs to get stopped.

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Attached Image(s) (click to enlarge)
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Click to Enlarge Name: dx-d1.gif Size: 23 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #3,154
  • Oct 17, 2011 2:07pm Oct 17, 2011 2:07pm
Quoting MotownPhill
lol say it however ya want PP , my prediction is simply this from a technical ,emotional point of view, we head down to 3550 level, form a inverted h&d on the daily chart , obama's genius admin finds yet another way to print to prop up market and its up from there.. keep riding the fluff train to the poor house, het if something works stick with it, if it dont work really stick with it.
Good thing I don't follow that kind of logic. At least now we know what politicians are good for.
Those who say it cannot be done should not interrupt those who are doing it
  • #3,155
  • Oct 17, 2011 2:11pm Oct 17, 2011 2:11pm
yep if ya followed that logic you would be qualified for the most futile job in the world, politics, instead better to stay in the private sector and be a good upstanding citizen, so when ya die your not reincarnated as a pile of cow dung, which by the way is worth more by weight then most of our politicians.. again just my opinion
  • #3,156
  • Oct 17, 2011 2:13pm Oct 17, 2011 2:13pm
Quoting PipTrapper
Good thing I don't follow that kind of logic. At least now we know what politicians are good for.
Politicians are good for feeding to aliens when the time comes. It will leave a bad taste in their mouth so they will leave the rest of us alone. No one like to eat rotten chicken.
  • #3,157
  • Oct 17, 2011 2:15pm Oct 17, 2011 2:15pm
Quoting ntrprz
Politicians are good for feeding to aliens when the time comes. It will leave a bad taste in their mouth so they will leave the rest of us alone. No one like to eat rotten chicken.
yes we do...
Have I got something on my face, SOLDIER?
  • #3,158
  • Oct 17, 2011 2:16pm Oct 17, 2011 2:16pm
Quoting PipKiller
Great quote.

I'm sitting here going over in my mind that I'm up 4% for the week already with yesterdays day trade and only 2% risked of the weeks beginning capitol on this one. I have a decent entry that held on the retest of the breakout so I really have nothing to lose by hanging on to the whole piece for bigger swing with my little hammer.

Talk of stops building below @ 1.3720/25 too
The Aussie and the Loonie are still taking a beating. Gold and oil are hanging in there but still bearish. The equity indices are the same SP500 still hovering at 1200. Will we get a sell-off in the final stretch? 30 minutes from now we will know. Patience is required. Hoping to stay awake long enough.
Those who say it cannot be done should not interrupt those who are doing it
  • #3,159
  • Oct 17, 2011 2:25pm Oct 17, 2011 2:25pm
Shouldn't be long now. I am seeing major flows to USD
Those who say it cannot be done should not interrupt those who are doing it
  • #3,160
  • Edited 2:40pm Oct 17, 2011 2:27pm | Edited 2:40pm
Quoting PipTrapper
Patience is required. Hoping to stay awake long enough.
Its 9 pm here... But today I'm gonna stay the whole night if needed

But gonna make my today's profit limit lower, to increase possibility of getting some sleep

EDIT: hope so, PT. A nice strong EUR drop would be good for my mood and self-confidence right now.

Especially since I am exposed to any USD drops and when money does not flow to US Bonds I am getting into defcon4

EDIT2: btw, I noticed that the risk-on risk-off correlations are getting weaker. I mean, recently commodities were making exact copy of EURUSD as well as other currencies (I guess some may say, that EURUSD followed commodities, either way they were strongly correlated) and now general movements are still similar, but I think there strenght is different. And oil seems to be quite resistant to smaller EURUSD moves. USDCAD seems to have a problem, whether to stall as oil or to fall as EURUSD. So it follow one, then suddenly changes mind and runs after another... But I am calm as long as my equity confirms, that overall we are struggling south.

EDIT3: Enlightment! I guess mayor drop will occur, when all these assets finally align. Or they will align due to mayor EURUSD drop?
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