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EurAnalysis Kindergarten 24 replies

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  • #6,481
  • Oct 31, 2011 7:00am Oct 31, 2011 7:00am
Quoting PipTrapper
As for who was buying YENs, since the BOJ acted alone, I would not be surprised if it was the FED taking advantage of an opportunity to conduct more stealth QE.
Funny, I thought the same when Aaron pointed "big buy order" But watching EURUSD it didn't cause too much movement. EURJPY took the beating instead.

If this assumption is true, I wonder how will they utilize additional Yen reserves in the future... CBs usually don't trade currency for profit, but if Fed was going to make some QE... Whoa.
  • #6,482
  • Oct 31, 2011 7:01am Oct 31, 2011 7:01am
Bout all that it seems is that Japan says Yen is not the reserve currency of the world.

Message directed at Bernanke, China, Robo traders

Now we have to see if the market is capable of re-evaluating price structure. If market does not, then there will be more intervention. This was opening salvo.

Am in from Friday afternoon, so have nothing to lose by waiting.
Long USD/ Euro,Gbp,Cad

Missed the message on the Yen after last week lack of support for Euro/JPY
  • #6,483
  • Oct 31, 2011 7:07am Oct 31, 2011 7:07am
Quoting Tom_D_Trader
Those are very interesting thoughts guys.

While PK pointed out he saw the same thing at ECN broker it could be that one whole OTC market had a gigantic buy limit order, or he simply shut down so it wont crash.

If it is the case of whole OTC market, may I know who is your provider guys?

T.
Don't know exactly who the liquidity providers are. MB Trading is STP ECN to several major banks.

Forex isn't just one OTC market like trading futures or equities, it's a loose network of world banks etc. It doesn't shut down like stock markets when price is moving too fast.

Somebody just had some really deep pockets and it took hours to fill them. It's that simple.
I don't care which way the market is going as long as it's going my way
  • #6,484
  • Oct 31, 2011 7:16am Oct 31, 2011 7:16am
Ok, I will try to find out more about MB trading.

Right now, I explored FXDD and it seems their main liquidity providers are:

Deutsche Bank
Barclays

Both from Europe. So the order could come somwhere from within.

Do you know more Aaron?

T.
"I know one thing, that I know nothing." Sokrates
  • #6,485
  • Oct 31, 2011 7:19am Oct 31, 2011 7:19am
Quoting Tom_D_Trader
Ok, I will try to find out more about MB trading.

Right now, I explored FXDD and it seems their main liquidity providers are:

Deutsche Bank
Barclays

Both from Europe. So the order could come somwhere from within.

Do you know more Aaron?

T.
Don't discount China either. Remember they want to diversify their foreign currency holdings and Europe does not look extremely attractive to them right now.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,486
  • Oct 31, 2011 7:20am Oct 31, 2011 7:20am
Flat seems like a good word for the start of this week, this market is a mess, although i think a qe3 is imminent and the euro goes back up in the near future, no point guessing right now, good luck..MotownPhill
  • #6,487
  • Oct 31, 2011 7:25am Oct 31, 2011 7:25am
Quoting PipTrapper
Don't discount China either. Remember they want to diversify their foreign currency holdings and Europe does not look extremely attractive to them right now.
Pt -- you are such a nice guy --I had no idea you had such a suspicious mind.

One factoid I think you may like (if you don't already know it). This month was the largest rise in the S&P since 1974. There are 8 other rises greater... all during the great depression. Or maybe it was just six.

Tom, you know what I know, and hopefully a bit more by now.
Kill the ego, or it will kill the mission.
  • #6,488
  • Oct 31, 2011 7:30am Oct 31, 2011 7:30am
I tried to get to information about liquidity providers of MB trading and just got one email to head of department.

Seems they dont know it on support. Or maybe they dont want to tell.

T.
"I know one thing, that I know nothing." Sokrates
  • #6,489
  • Oct 31, 2011 7:31am Oct 31, 2011 7:31am
CA GDP, 0.3% released, 0.2% expectation
  • #6,490
  • Oct 31, 2011 7:39am Oct 31, 2011 7:39am
Quoting Tom_D_Trader
I tried to get to information about liquidity providers of MB trading and just got one email to head of department.

Seems they dont know it on support. Or maybe they dont want to tell.

T.
Good luck. Some brokers lay it all out and others like MB and Tradestation keep quiet give you a standard canned answer..... "several large banks"

I've asked both of these companies within the last 6 months.

I'm not worried who they are. They are doing fine by me. I don't get slipped, sometimes my fill is in 2 or 3 pieces depending on my lot size and I even see negative speads on E$. Rarely do I ever see a spread on E$ over a pip, usually less than a pip.


Oh OH!!! broke to a new low for today. Bright red is my favorite color today.
I don't care which way the market is going as long as it's going my way
  • #6,491
  • Oct 31, 2011 7:41am Oct 31, 2011 7:41am
We just made a new low on EUR/USD @ 1.3967

I am seeing a rejection candle on M5. Lets see what happens now.

.
Attached Image (click to enlarge)
Click to Enlarge Name: eu-m5.gif Size: 35 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #6,492
  • Oct 31, 2011 7:43am Oct 31, 2011 7:43am
Quoting Pbh
CA GDP, 0.3% released, 0.2% expectation
Seems Northern American economies do better than European. And EUR keeps trying to defend 1.40 level. Stubborn currency. If Fed really hits markets with QE, next months gains on stocks can be even greater... "Make it look like crysis was non-existent, maybe they will forget after Christmas".
  • #6,493
  • Oct 31, 2011 7:46am Oct 31, 2011 7:46am
Quoting Blobik
Seems Northern American economies do better than European. And EUR keeps trying to defend 1.40 level. Stubborn currency. If Fed really hits markets with QE, next months gains on stocks can be even greater... "Make it look like crysis was non-existent, maybe they will forget after Christmas".
Yes I agree that perception can quickly become reality.
However this depends on the underlying fundamentals.
In the US, one could convincingly argue that the economy is on track for significant gains in 2012. The same can NOT be said for the EZ though.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,494
  • Oct 31, 2011 7:49am Oct 31, 2011 7:49am
Chicago PMI in about an hour.
I don't care which way the market is going as long as it's going my way
  • #6,495
  • Oct 31, 2011 8:07am Oct 31, 2011 8:07am
Another major victim of the EZ crisis...

MF Global Suspended From Trading With N.Y. Fed

MF Global Holdings Ltd., the futures broker run by Jon Corzine, was suspended from conducting new business with the New York Federal Reserve today after posting a record loss.
The firm’s board met through the weekend in New York to consider options including a sale to avert failure, according to a person with direct knowledge of the situation. It was stopped from doing new business with the New York Fed until it shows it’s able to fulfill its responsibilities as a primary dealer, according to a statement on the regulator’s website. Trading in MF Global’s stock was also halted.
Pressure is mounting on Corzine, the former governor of New Jersey and U.S. senator, after MF Global declined 67 percent last week and its bonds started trading at distressed levels amid its disclosures of bets on European sovereign-debt. MF Global was in discussions with five potential buyers for all or parts of the company, including banks, private-equity firms and brokers, said the person, who asked not to be identified because the talks are private.
“While the pieces are attractive, figuring out potential buyers is a lot harder,” Robert Rutschow, an analyst with CLSA Credit Agricole Securities in New York, said in an Oct. 28 note to clients. “In the current environment, banks can’t even go to the bathroom without permission from their regulator, let alone buy a brokerage firm that was looking to grow proprietary trading and expand risk-taking activities.”
Those who say it cannot be done should not interrupt those who are doing it
  • #6,496
  • Oct 31, 2011 8:08am Oct 31, 2011 8:08am
I'm about to tear my hair out. E/U has been ranging for the whole day after being pushed to 1.4. The big guys are out in full force it seems, the market is just too weird today.
  • #6,497
  • Oct 31, 2011 8:10am Oct 31, 2011 8:10am
Quoting jeff_b
I'm about to tear my hair out. E/U has been ranging for the whole day after being pushed to 1.4. The big guys are out in full force it seems, the market is just too weird today.
It's really no different than it was last Friday. It's just 160 pips lower.
Wait till NY open in about 20 minutes.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,498
  • Oct 31, 2011 8:11am Oct 31, 2011 8:11am
Quoting PipTrapper
We just made a new low on EUR/USD @ 1.3967

I am seeing a rejection candle on M5. Lets see what happens now.

.
I think this is what you are seeing in the bigger picture.

Daily support @ 1.3973
Attached Image (click to enlarge)
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Hourly Demand zone from 1.3973 - 1.3945. Through 1.3945 should see around 1.3920 - 1.3863 demand zone
Attached Image (click to enlarge)
Click to Enlarge Name: 60.jpg Size: 82 KB
I don't care which way the market is going as long as it's going my way
  • #6,499
  • Oct 31, 2011 8:14am Oct 31, 2011 8:14am
Quoting PipTrapper
It's really no different than it was last Friday. It's just 160 pips lower.
Wait till NY open in about 20 minutes.
You're supposed to insert your favorite Euro chart picture with that post.
I don't care which way the market is going as long as it's going my way
  • #6,500
  • Oct 31, 2011 8:19am Oct 31, 2011 8:19am
2 dailies. first one is the moon confirmed drop. 15 days next important cycle for me.

2nd chart is some other cycle either mars jupiter or venus pluto forgot but we are really close to it.

live trades been up 140 pips since morning.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2moon.gif Size: 34 KB
Click to Enlarge Name: stop2.gif Size: 43 KB
Have I got something on my face, SOLDIER?
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