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EurAnalysis Kindergarten 24 replies

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  • #4,801
  • Oct 24, 2011 4:35am Oct 24, 2011 4:35am
Quoting PipTrapper
The only way I see out of this is to bite the bullet and take a major haircut on Greek debt and hope the other periphery states don't expect the same.
It's enough to make me shake my head...
The old jewish rule. Forgive and forget. Quite nice idea to restart economy after some time.

Btw I still need to laught to term "haircut of 60%". Thats bankrupt for gods sake.

T.
"I know one thing, that I know nothing." Sokrates
  • #4,802
  • Oct 24, 2011 4:36am Oct 24, 2011 4:36am
Quoting AaronWard
My impression is that China offered them a deal a couple months ago. They refused and the Chinese took it off the table.

Now though, even if the Chinese choose to deal (they may by toxic debt for the right incentive... namely protection from the USA's protectionist policies) why don't they wait until the Euro is just a little bit cheaper so their USD will go farther.
With German Manufacturing PMI under 50 as of today (48.9), China will want to wait till the ECB lowers rates in the next 2 months before investing there anyway. By then, the euro will be much lower in my view.
Observation is the path to discovery.
  • #4,803
  • Oct 24, 2011 4:38am Oct 24, 2011 4:38am
4 Aaron:

Hey man, are you trying Vegas tunnel method? Your charts look like you are trying to use it. In case you dont and like those tunnels, try to look at it. It is quite nice, I have been using it for some time. Thou it is probably too slow for you, as it needs you to wait for weeks to enter a position.

T.
"I know one thing, that I know nothing." Sokrates
  • #4,804
  • Oct 24, 2011 4:38am Oct 24, 2011 4:38am
Quoting Tom_D_Trader
The old jewish rule. Forgive and forget. Quite nice idea to restart economy after some time.

Btw I still need to laught to term "haircut of 60%". Thats bankrupt for gods sake.

T.
It´s more like a crew cut than a haircut.
Observation is the path to discovery.
  • #4,805
  • Oct 24, 2011 4:45am Oct 24, 2011 4:45am
Quoting Tom_D_Trader
4 Aaron:

Hey man, are you trying Vegas tunnel method? Your charts look like you are trying to use it. In case you dont and like those tunnels, try to look at it. It is quite nice, I have been using it for some time. Thou it is probably too slow for you, as it needs you to wait for weeks to enter a position.

T.
hi tom,

No, I just have different technical set ups on my different charts. I find the black background and the BB makes it look like the world is coming to an end

Vegas tunnel is a breakout system if I remember correctly?
Kill the ego, or it will kill the mission.
  • #4,806
  • Oct 24, 2011 4:45am Oct 24, 2011 4:45am
Quoting Alorente
It´s more like a crew cut than a haircut.
If they wait long enough, their hair will fall out with stress and they won't need a haircut at all.
Translation: Disorderly default
Those who say it cannot be done should not interrupt those who are doing it
  • #4,807
  • Oct 24, 2011 4:50am Oct 24, 2011 4:50am
Double Top was Break,Next might be 1.3967 breaking that level 1.4 would be next
Attached Image (click to enlarge)
Click to Enlarge Name: EU Daily.png Size: 33 KB
If there was easy money lying around,no one would be forcing it into your
  • #4,808
  • Oct 24, 2011 4:52am Oct 24, 2011 4:52am
The 5 Keys to EU Summit #1 – Options for EFSF, Greek Haircuts, Bank Recapitalization and More…

As we head into another busy week of headline driven trading, these will be the 5 main topics of conversation, news coverage, and debate to come out of Sunday’s EU Summit which will drive the narrative for this week....

Click above link for more.

.http://www.fxtimes.com/wp-content/up...-potential.jpg

.http://www.fxtimes.com/wp-content/up...ks-300x291.gif
Those who say it cannot be done should not interrupt those who are doing it
  • #4,809
  • Oct 24, 2011 4:52am Oct 24, 2011 4:52am
Quoting FXMindset
Double Top was Break,Next might be 1.3967 breaking that level 1.4 would be next
Double top was not broken. You need to close above it to consider it technically a break. That was just an intraday spike. We´ll see where we close today.
Observation is the path to discovery.
  • #4,810
  • Oct 24, 2011 4:55am Oct 24, 2011 4:55am
Quoting FXMindset
Double Top was Break,Next might be 1.3967 breaking that level 1.4 would be next
A spike only opens the door. We need a close above the line first. Without a close, it is just a fakey fakey.
Those who say it cannot be done should not interrupt those who are doing it
  • #4,811
  • Oct 24, 2011 4:58am Oct 24, 2011 4:58am
Quoting AaronWard
...Vegas tunnel is a breakout system if I remember correctly?
Yes it is, if breakout system means exchange rate will break out of tunnel. If I remember it right, it sets something like 50 EMA to daily chart and then sets those tunnels while distance of each tunnel is set by Fibo numbers. While rate leaves tunnel, you are looking for a candlestick reversal.

T.
"I know one thing, that I know nothing." Sokrates
  • #4,812
  • Oct 24, 2011 4:59am Oct 24, 2011 4:59am
Okay, point for my entry was not reached, and I need to leave now. As a result, perhaps I won't make any entries today, or at least not in next 3 hours. Don't want to use sell limits just yet, it is monday and EUR is really tough pair. I hope we don't get French downgrade in next 6-7 hours Missing such a move would be... ouch.
  • #4,813
  • Oct 24, 2011 5:01am Oct 24, 2011 5:01am
Quoting PipTrapper
A spike only opens the door. We need a close above the line first. Without a close, it is just a fakey fakey.
In reality, according to John Murphy, who I learned a lot of my TA from, a break needs two consecutive closes beyond the line to be considered a true break.

For those of you interested in TA, here is a link worth its weight in gold:

http://stockcharts.com/school/doku.p...phy_s_ten_laws
Observation is the path to discovery.
  • #4,814
  • Oct 24, 2011 5:03am Oct 24, 2011 5:03am
"These rating agencies should probably be considered one of the causes of this crisis" ~Michel Barnier, EU commissioner for Internal Market and Services~

Way to go Michel. Blame the rating agencies. They are not the ones who over leveraged themselves.
This is obviously a smearing campaign in order to get enough votes to ban them from rating countries that are being bailed out.

Source: Europe May Adopt Cutting-Edge ‘I Can’t Hear You’ Approach to Credit Ratings

http://s.wsj.net/public/resources/im...1020134224.jpg.
Those who say it cannot be done should not interrupt those who are doing it
  • #4,815
  • Oct 24, 2011 5:04am Oct 24, 2011 5:04am
Quoting PipTrapper
A spike only opens the door. We need a close above the line first. Without a close, it is just a fakey fakey.
Quote
Double top was not broken. You need to close above it to consider it technically a break. That was just an intraday spike. We´ll see where we close today.

My Daily chart Point going more higher but I havent long neither short

And I am still see that we are in the middle range and dont have any position yet for now,however am still looking 1.40-1.41

No need hurry
If there was easy money lying around,no one would be forcing it into your
  • #4,816
  • Oct 24, 2011 5:13am Oct 24, 2011 5:13am
Quoting PipTrapper
"These rating agencies should probably be considered one of the causes of this crisis" ~Michel Barnier, EU commissioner for Internal Market and Services~

Way to go Michel. Blame the rating agencies. They are not the ones who over leveraged themselves.
This is obviously a smearing campaign in order to get enough votes to ban them from rating countries that are being bailed out.

Source: [url="http://blogs.wsj.com/marketbeat/2011/10/20/europe-to-adopt-cutting-edge-i-cant-hear-you-approach-to-credit-ratings/"]Europe May Adopt Cutting-Edge...
Blame the messenger...
Observation is the path to discovery.
  • #4,817
  • Oct 24, 2011 5:13am Oct 24, 2011 5:13am
Quoting Alorente
In reality, according to John Murphy, who I learned a lot of my TA from, a break needs two consecutive closes beyond the line to be considered a true break.

For those of you interested in TA, here is a link worth its weight in gold:

http://stockcharts.com/school/doku.p...phy_s_ten_laws
Thanks Alorente. I have added the link to page 1
Those who say it cannot be done should not interrupt those who are doing it
  • #4,818
  • Oct 24, 2011 5:14am Oct 24, 2011 5:14am
Quoting FXMindset
My Daily chart Point going more higher but I havent long neither short

And I am still see that we are in the middle range and dont have any position yet for now,however am still looking 1.40-1.41

No need hurry
Wise decision.
Those who say it cannot be done should not interrupt those who are doing it
  • #4,819
  • Oct 24, 2011 5:18am Oct 24, 2011 5:18am
If anybody is interested in looking at quite a few different forex systems, this is a pretty good site. No fee required.

forex-strategies-revealed.com
Kill the ego, or it will kill the mission.
  • #4,820
  • Oct 24, 2011 5:26am Oct 24, 2011 5:26am
Quoting PipTrapper
Way to go Michel. Blame the rating agencies. They are not the ones who over leveraged themselves.
This is obviously a smearing campaign in order to get enough votes to ban them from rating countries that are being bailed out.
Yes, they are not the ones who overleveraged themselves.

But they should take a part in restoring confidence. I would charge em with extra taxes for what they have done. Rating agencies deepened crisis a lot and they should take their part of responsibility. Yes, it is banks problem that they are unable to rate bonity of clients themselves and that they outsourced such a rating to these agencies. But because this happened, these 3 (for gods sake those are only three agencies, thats fkin oligopoly for bonity rating) have such a huge power to influence the markets they should be stopped somehow.

There should be independent European rating agency, for first. And then there should be separate rating agencies for each sector. One for sovereigns, one for equities, commodities, etc. For gods sake those agencies dont even do audit anymore, they just measure PE ratio or ROE and base their judges on this. Fkin insider trading bastards, let them burn in hell.

T.
"I know one thing, that I know nothing." Sokrates
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