noted : Upward Motion
I am just biased 70/30 for down now.
"I know one thing, that I know nothing." Sokrates
- #8,041
- Nov 7, 2011 8:22am Nov 7, 2011 8:22am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
- #8,042
- Nov 7, 2011 8:22am Nov 7, 2011 8:22am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
temporary i see usdx, stucked in 50 monthly fibo bro
Any Position at EU now ?
Thanks
If there was easy money lying around,no one would be forcing it into your
- #8,043
- Nov 7, 2011 8:25am Nov 7, 2011 8:25am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
learn to trade better
, or learn my system and help me evolve it.
"I know one thing, that I know nothing." Sokrates
- #8,044
- Nov 7, 2011 8:29am Nov 7, 2011 8:29am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
Mindset, my dear young friend. I challenge you to stop caring of how I trade. You dont know a sh!t about me, about my financial background, knowledge, trade system, nothing. I just follow my analysis and this zone shows weakness for break. Thats why i track 1 min chart for small reversals down and am trying to hit the top always setting SL at BE, so I dont loose a single pip. I challenge you to STFU and mind your own trades
Wow wow wow...Easy Man?Who cares bout you?
I mean I need learn to trade better
If there was easy money lying around,no one would be forcing it into your
- #8,045
- Nov 7, 2011 8:39am Nov 7, 2011 8:39am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
Futures mixed. No real big movers so far exept the Swiss Franc. European markets slightly down. US markets expecting a slightly lower close.
Price unable to stick and stay below short term trend channel support or even get into the demand zone below. 1st supply zone above price has been hit way too many times and I don't think it will hold again.
Italy has been getting hammered in the news today but the markets so far are not reacting too badly to the news and IMHO are looking for any glimmer of "hope" to rally.
With banks repatriating Euros and ECB buying bonds I think the real risk is to the upside today.
Above 1.3876 there isn't much of anything but a round number of 1.3900 and mabey an option barrier to stop it on the way to 1.3922. I don't think 1.3900 will hold.
In line with PT and FXmidset I see higher for a short and am waiting for it. Interesting we all see something similar with different types of trading analysis.
Currently I am holding a very small long position at 1.3760 for giggles.
Price unable to stick and stay below short term trend channel support or even get into the demand zone below. 1st supply zone above price has been hit way too many times and I don't think it will hold again.
Italy has been getting hammered in the news today but the markets so far are not reacting too badly to the news and IMHO are looking for any glimmer of "hope" to rally.
With banks repatriating Euros and ECB buying bonds I think the real risk is to the upside today.
Above 1.3876 there isn't much of anything but a round number of 1.3900 and mabey an option barrier to stop it on the way to 1.3922. I don't think 1.3900 will hold.
In line with PT and FXmidset I see higher for a short and am waiting for it. Interesting we all see something similar with different types of trading analysis.
Currently I am holding a very small long position at 1.3760 for giggles.
I don't care which way the market is going as long as it's going my way
- #8,046
- Nov 7, 2011 8:41am Nov 7, 2011 8:41am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
This what I mean when I say "The market has gone mad" 
Despite the dismal econ data, Euro goes up.
Therefore, it appears that my 5 points explaining why Euro will go up are probably accurate?
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..
Despite the dismal econ data, Euro goes up.
Therefore, it appears that my 5 points explaining why Euro will go up are probably accurate?
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
- #8,047
- Nov 7, 2011 8:42am Nov 7, 2011 8:42am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
Hey Hey, play nice children.
I don't care which way the market is going as long as it's going my way
- #8,048
- Nov 7, 2011 8:45am Nov 7, 2011 8:45am
Mindset, my dear young friend. I challenge you to stop caring of how I trade. You dont know a sh!t about me, about my financial background, knowledge, trade system, nothing. I just follow my analysis and this zone shows weakness for break. Thats why i track 1 min chart for small reversals down and am trying to hit the top always setting SL at BE, so I dont loose a single pip. I challenge you to STFU and mind your own trades
just my humble 2 cents
patience is a virtue
- #8,049
- Nov 7, 2011 8:46am Nov 7, 2011 8:46am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
This what I mean when I say "The market has gone mad"
Despite the dismal econ data, Euro goes up.
Therefore, it appears that my 5 points explaining why Euro will go up are probably accurate?
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.
[u][i]3. Watching...
Supply and demand. There is still real demand for the Euro... And the interest rate is still higher than the US but not enough for a carry trade.
I don't care which way the market is going as long as it's going my way
- #8,050
- Nov 7, 2011 8:47am Nov 7, 2011 8:47am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #8,051
- Nov 7, 2011 8:47am Nov 7, 2011 8:47am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
In line with PT and FXmidset I see higher for a short and am waiting for it. Interesting we all see something similar with different types of trading analysis.
Currently I am holding a very small long position at 1.3760 for giggles.
Attachment
Go get them pips Killer. I would have joined you on the hunt but I'm only sniping shorts in this market.
Those who say it cannot be done should not interrupt those who are doing it
- #8,052
- Nov 7, 2011 8:48am Nov 7, 2011 8:48am
Also adhering to a few indies, it's a day for hope and change
Supply and demand. There is still real demand for the Euro... And the interest rate is still higher than the US but not enough for a carry trade.
It's easy to be humbled but hard to be humble.
- #8,053
- Nov 7, 2011 8:49am Nov 7, 2011 8:49am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
Futures mixed. No real big movers so far exept the Swiss Franc. European markets slightly down. US markets expecting a slightly lower close.
Price unable to stick and stay below short term trend channel support or even get into the demand zone below. 1st supply zone above price has been hit way too many times and I don't think it will hold again.
Italy has been getting hammered in the news today but the markets so far are not reacting too badly to the news and IMHO are looking for any glimmer of "hope" to rally.
With banks repatriating...
If there was easy money lying around,no one would be forcing it into your
- #8,054
- Nov 7, 2011 8:53am Nov 7, 2011 8:53am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
Go get them pips Killer. I would have joined you on the hunt but I'm only sniping shorts in this market.
If there was easy money lying around,no one would be forcing it into your
- #8,056
- Nov 7, 2011 8:58am Nov 7, 2011 8:58am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #8,058
- Nov 7, 2011 9:04am Nov 7, 2011 9:04am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
I doubt the carry trade prospect is the real driver, considering the alternative (and better yielding) currencies.
This is being driven by a combination of capital flow out of US to risk assets (USD negative) and repatriation of foreign capital to Euros as Euro area institutions liquidate in order to recap themselves (EUR positive), plus the 5 reasons I gave in one of my previous posts.
It won't be long lived but it will give me a better short entry price
Those who say it cannot be done should not interrupt those who are doing it
- #8,059
- Nov 7, 2011 9:04am Nov 7, 2011 9:04am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
I don't care which way the market is going as long as it's going my way