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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #8,001
  • Nov 7, 2011 6:27am Nov 7, 2011 6:27am
Patient - Patient - patient - Not see the right shoulder yet - Is it right shoulder ? What is your Level on Right Shoulder PT
If there was easy money lying around,no one would be forcing it into your
  • #8,002
  • Nov 7, 2011 6:32am Nov 7, 2011 6:32am
Quoting AaronWard
Honestly, I think somebody is up to a bit of michief. This rumor had the effect of pasting bullish reversals on almost all the charts just in time for the NY open. But lets wait and see.
It's no different that the Greek referendum rumors.
Those who say it cannot be done should not interrupt those who are doing it
  • #8,003
  • Nov 7, 2011 6:32am Nov 7, 2011 6:32am
Quoting PipKiller
... and fresh virgin supply level above on the 60 minute.
Virgin supply Sorry, I have nasty thoughts today I'd say i have virgin demand

Okay, back to the topic... I missed all the move as I went to sleep and was busy with some business... Seems my magical power worked once again, as I said I will wait for right shoulder to form . Maybe I should say that I will wait for the price to go 100 pip down to enter a long, and the price will skyrocket to make the right shoulder?

Still, feel not so comfortable with this level for shorting. Would like to see higher. But my charts suggest, that until Silvio resigns there is small chance for EUR to rebound as high as I wanted. So I hope EUR will be in a nice place high enough for shorting, when I get to my laptop. Maybe NY open will boost it up... and hold there for an hour Nah, doubt the EUR can stand so long.
  • #8,004
  • Nov 7, 2011 6:33am Nov 7, 2011 6:33am
Quoting Blobik
They are selling expensive toilet paper!
Selling? They can't sell if nobody buys.
Those who say it cannot be done should not interrupt those who are doing it
  • #8,005
  • Nov 7, 2011 6:34am Nov 7, 2011 6:34am
Quoting FXMindset
Patient - Patient - patient - Not see the right shoulder yet - Is it right shoulder ? What is your Level on Right Shoulder PT
around the 1.39 area. Maybe even 1.3925
Those who say it cannot be done should not interrupt those who are doing it
  • #8,006
  • Nov 7, 2011 6:34am Nov 7, 2011 6:34am
I repeat. No way for mafioso resigning without incredibly long battle.
"I know one thing, that I know nothing." Sokrates
  • #8,007
  • Nov 7, 2011 6:40am Nov 7, 2011 6:40am
Quoting Tom_D_Trader
I repeat. No way for mafioso resigning without incredibly long battle.
I heard on the radio that there been over 51 failed confidence motions against Berlusconi.... he won't go down without a fight
patience is a virtue
  • #8,008
  • Nov 7, 2011 6:41am Nov 7, 2011 6:41am
Quoting PipTrapper
around the 1.39 area. Maybe even 1.3925
There is always a problem for me when Located the correct Top of Right & Shoulder because am always try to pick best possible entry with stop around 20-50 pips for swing,I am looking how 1.3895 react if we going there in the next 4H
If there was easy money lying around,no one would be forcing it into your
  • #8,009
  • Nov 7, 2011 6:47am Nov 7, 2011 6:47am
Quoting PipTrapper
around the 1.39 area. Maybe even 1.3925
PT is that a typo? Did you mean around the 1.38 - 1.3825 area?
patience is a virtue
  • #8,010
  • Nov 7, 2011 6:49am Nov 7, 2011 6:49am
Quoting Tom_D_Trader
I repeat. No way for mafioso resigning without incredibly long battle.
I agree. He will not go easily.

As for the whole rumor thing and it's effect on the market, do not underestimate the Euro today. Here is my rationale...

1. The Euro is still very much correlated with other risk assets. Effects of the rate cut have worn off after a slight adjustment.

2. There is still unfinished technical business at the 1.3900/1.3950 area and as such I believe the majority of bears are waiting for it before jumping in.

3. Watching price action on M5 and M15 tells me that the bulls, although weak in numbers, outnumber the bears, so up is sentiment right now.

4. Failure to close price below the H4 channel, confirms enough demand to drive this up.

5. I mentioned this a few times before but I'll say it again. There are loads of trigger happy fund managers out there desperate to find an excuse (any excuse) to buy beaten down quality equities at a discount. If they are not buying, they are wasting their time. Risk is their business so that's what they do. It is the main pillar of capitalism. The alternative is to park their funds in fixed income which yields no more than 2% at best in an environment with 4% inflation. Therefore parking their funds actually creates a net cost to them of 2%. Translation, they don't only lose opportunity but they actually realize a 2% loss. Not good. They will be fired for not investing in higher yields.

Therefore in absence of bad news (bad enough to create a risk of significant loss) equities will be bid up higher today. Tomorrow is another day. I don't expect any triple digit gains on the DOW but it will most likely be positive.

Just my opinion.
Those who say it cannot be done should not interrupt those who are doing it
  • #8,011
  • Nov 7, 2011 6:53am Nov 7, 2011 6:53am
Quoting lovepips
PT is that a typo? Did you mean around the 1.38 - 1.3825 area?
We may not get to 1.39 but 1.3825 is too low. At minimum, I am looking for a slight break of the Friday high of 1.3868
FxMindset may be correctly targeting 1.3895 and I would be happy with that.
However, if I see significant unbreakable resistance at 1.3825, I will certainly change my view.
Those who say it cannot be done should not interrupt those who are doing it
  • #8,012
  • Nov 7, 2011 6:59am Nov 7, 2011 6:59am
Quoting PipTrapper
We may not get to 1.39 but 1.3825 is too low. At minimum, I am looking for a slight break of the Friday high of 1.3868
FxMindset may be correctly targeting 1.3895 and I would be happy with that.
However, if I see significant unbreakable resistance at 1.3825, I will certainly change my view.
Same tastes
If there was easy money lying around,no one would be forcing it into your
  • #8,013
  • Nov 7, 2011 7:07am Nov 7, 2011 7:07am
Quoting PipTrapper
We may not get to 1.39 but 1.3825 is too low. At minimum, I am looking for a slight break of the Friday high of 1.3868
FxMindset may be correctly targeting 1.3895 and I would be happy with that.
However, if I see significant unbreakable resistance at 1.3825, I will certainly change my view.
ahh ok thanks for that explanation... it'll be interesting to see what news the US react to most.
patience is a virtue
  • #8,014
  • Nov 7, 2011 7:13am Nov 7, 2011 7:13am
The 8 hour chart shows good price containment using the 20 sma
The daily is starting to weaken also having price contained by the 20 sma
This sideways channel has been sustained by the correction that occurred on the daily.

As up momentum wanes the resumption of the downtrend will not take much negative news out of Europe to get moving again.

We still have the CB's determined to convince the World that everything is under control. They will act to counter, but a loss of confidence in that ability is what the European Bond markets is signaling.

We still have to get through the US market and the complete loss of credibility of Bernanke as a trustee for the USD.
  • #8,015
  • Nov 7, 2011 7:28am Nov 7, 2011 7:28am
I am short.

37304 - SL at BE.

I still believe sell of may start any second.

edit: looking forward for next attempt
"I know one thing, that I know nothing." Sokrates
  • #8,016
  • Nov 7, 2011 7:31am Nov 7, 2011 7:31am
Quoting Tom_D_Trader
I am short.

37304 - SL at BE.

I still believe sell of may start any second.
I am pretty tall... just around 6 foot 2.
Kill the ego, or it will kill the mission.
  • #8,017
  • Nov 7, 2011 7:31am Nov 7, 2011 7:31am
3745 i am short
Quoting Tom_D_Trader
I am short.

37304 - SL at BE.

I still believe sell of may start any second.
  • #8,018
  • Nov 7, 2011 7:33am Nov 7, 2011 7:33am
Hit
If there was easy money lying around,no one would be forcing it into your
  • #8,019
  • Nov 7, 2011 7:35am Nov 7, 2011 7:35am
next attempt 37303 same scenario

and hit again. No easy to short at this level

edit: I would prefere to enter before NY. Could you guys please stop buying?
"I know one thing, that I know nothing." Sokrates
  • #8,020
  • Nov 7, 2011 7:41am Nov 7, 2011 7:41am
Quoting Tom_D_Trader
next attempt 37303 same scenario

and hit again. No easy to short at this level
Hmm! Seems you have the same problem as I do - one would make lots of money if entered longs when I enter short, and put sell limits on my SL levels

Hey, don't you mind if I use your trades as a contrarian indicator ? (Just in case, only kidding, please don't feel offended bro )
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