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  • #12,661
  • Nov 30, 2011 6:24am Nov 30, 2011 6:24am
Quoting bumapatria
price/time meet 3500s
maybe a short there but am still long heavy now

am preety sure 3500 could be reached soon

3688 is next price/time meet

careful careful...haven't you heard what PT has been saying for the past 2000 posts ?
  • #12,662
  • Nov 30, 2011 6:27am Nov 30, 2011 6:27am
That China "intervention" was a nice head fake causing risk on for equities thus dragging the euro up but with absolutely no real reason...Dida little short at 3325 and am out now. Looking forward then i'm focusing on those meetings....plus Rehn said they have 10 days to solve the crisis...so something COULD come out of those meetings...
  • #12,663
  • Nov 30, 2011 6:29am Nov 30, 2011 6:29am
One more thing:

China is paving the way for it's own upcoming crisis in the future with today's move.
  • #12,664
  • Nov 30, 2011 6:32am Nov 30, 2011 6:32am
Quoting FXMindset
Btw,My daily still bearish
I see the pair as rangebound and sideways for the last few years. I'm in this pair long for a swing trade. Might work, might not.
I don't care which way the market is going as long as it's going my way
  • #12,665
  • Nov 30, 2011 6:35am Nov 30, 2011 6:35am
Quoting PipKiller
I see the pair as rangebound and sideways for the last few years. I'm in this pair long for a swing trade. Might work, might not.
Pretty scary range.... from 1.18-1.60... a 5000 pip range. Of course you are the guy that jumps out of airplanes....
Kill the ego, or it will kill the mission.
  • #12,666
  • Nov 30, 2011 6:40am Nov 30, 2011 6:40am
Quoting PipKiller
I see the pair as rangebound and sideways for the last few years. I'm in this pair long for a swing trade. Might work, might not.
Depending on how many pips you want, and for how long.. that could be gambling (I say it because you were talking about years) unless you do something like PT.
  • #12,667
  • Nov 30, 2011 6:41am Nov 30, 2011 6:41am
PT I was sitting in economics this morning and for the whole lecture I sat there trying to think what the ECB could have up its sleeve.
So this is what I came up with. At the minute we are seeing asymmetric shocks across the eurozone. Germany and France were(are) growing faster than all other countries within the eurozone. However as we all know the shocks are occurring in Greece and and Italy.
So in order for short run growth to pick up the ECB must reduce interest rates right? Which they've done so as a result investors sell off assets denominated in euros like countries bonds etc. Thus the money supply increases and weakens the euro?
Aswell as this the ECB has been buying up these bonds that are being sold off and as such increases the money supply further. This in turn allows growth to pick up in these troubled countries in the short run but has a somewhat negative short term affect in the already growing economies because of inflation etc..
So my thinking behind all of this is that the ECB is actually playing a very strategic role behind closed doors and infact is tackling the debt crisis..
Could you please give your opinion on this its just my thinking of what they are doing to act on the crisis..
  • #12,668
  • Nov 30, 2011 6:52am Nov 30, 2011 6:52am
Quoting AaronWard
Pretty scary range.... from 1.18-1.60... a 5000 pip range. Of course you are the guy that jumps out of airplanes....
It's safer than riding it in for the landing.

Quoting Pbh
Depending on how many pips you want, and for how long.. that could be gambling (I say it because you were talking about years) unless you do something like PT.
I do keep an eye on the bigger picture and macros but I don't trade like PT. He's a macro position trader. I swing and intra day trade with supply and demand and momentum. I don't care what the macro picture is saying when price is going the opposite direction.
I don't care which way the market is going as long as it's going my way
  • #12,669
  • Nov 30, 2011 6:53am Nov 30, 2011 6:53am
Quoting knoholygrail
http://www.financialsense.com/contri...anuary-23-2012

Good Night - Sweet Dreams - Happy Birthday Fellows !!!

very interesting..... long-term bulls last 15years and bears are 12 years. So if our bear started in July '10 we've got another 11 years to go (2022).

The 23rd Jan is certainly a date to watch.... :-)
patience is a virtue
  • #12,670
  • Nov 30, 2011 6:53am Nov 30, 2011 6:53am
Quoting PipKiller

I do keep an eye on the bigger picture and macros but I don't trade like PT. He's a macro position trader. I swing and intra day trade with supply and demand and momentum. I don't care what the macro picture is saying when price is going the opposite direction.
So short good Tops and buy good Bottoms, good luck
  • #12,671
  • Nov 30, 2011 6:57am Nov 30, 2011 6:57am
Quoting PipKiller
It's safer than riding it in for the landing.
Lol... do they let you do that on commercial flights?
Kill the ego, or it will kill the mission.
  • #12,672
  • Nov 30, 2011 7:02am Nov 30, 2011 7:02am
Quoting PipKiller
It's safer than riding it in for the landing.



I do keep an eye on the bigger picture and macros but I don't trade like PT. He's a macro position trader. I swing and intra day trade with supply and demand and momentum. I don't care what the macro picture is saying when price is going the opposite direction.
anyone know, what caused that massive spike?
patience is a virtue
  • #12,673
  • Nov 30, 2011 7:04am Nov 30, 2011 7:04am
Fed and a whole load of other central banks have agreed to boost liquidity presumably for europe?
  • #12,674
  • Nov 30, 2011 7:04am Nov 30, 2011 7:04am
Quoting lovepips
anyone know, what caused that massive spike?
that was absolutely amazing!!! Banks are putting more liquidity in the markets, as I heard from Bloomberg.
  • #12,675
  • Nov 30, 2011 7:05am Nov 30, 2011 7:05am
PK,
I need your guns and bullets. There are some CBs that need a stern talking to!
  • #12,676
  • Nov 30, 2011 7:06am Nov 30, 2011 7:06am
Quoting RodMca
Fed and a whole load of other central banks have agreed to boost liquidity presumably for europe?
actually, they agreed to intervene altoguether around 2 months ago, sooner or later, something similar was coming
  • #12,677
  • Nov 30, 2011 7:06am Nov 30, 2011 7:06am
Quoting PipKiller
It's safer than riding it in for the landing.



I do keep an eye on the bigger picture and macros but I don't trade like PT. He's a macro position trader. I swing and intra day trade with supply and demand and momentum. I don't care what the macro picture is saying when price is going the opposite direction.
wow, so now we have the FED, ECB and the major CBs' providing liquidity....
patience is a virtue
  • #12,678
  • Nov 30, 2011 7:06am Nov 30, 2011 7:06am
Quoting RodMca
PT I was sitting in economics this morning and for the whole lecture I sat there trying to think what the ECB could have up its sleeve.
So this is what I came up with. At the minute we are seeing asymmetric shocks across the eurozone. Germany and France were(are) growing faster than all other countries within the eurozone. However as we all know the shocks are occurring in Greece and and Italy.
So in order for short run growth to pick up the ECB must reduce interest rates right? [b][u]Which they've done so as a result investors sell off assets...

my short reply, if i may (answering the underlying):

1) The sell off in peripheral bonds aren't due to ECB's interest rate cut but because of the debt problems in those countries. If you look at the german bonds then money has actually flown into it after the interest cut. Given the common fundamental reasonings for a rate cut, investors usually pile into bonds not fleeing from them (quality bonds, that is). The primary effect of a rate cut is that this currency would we be less attractive as a yield investment thus investors start to search for better alternatives which weakens the demand for that currency.


2) well, yeah, in theory ECB increases the money supply by buying the troubled bonds but the net effect isn't growth supportive cause that money isn't available in the economy. ECB simply owns the troubled bonds with printed money right now. The banks/bondholders have still taken heavy losses trying to get rid of those bonds and thus offering them at lower prices that they got them. So, in that sense, it's not growth supportive. Plus, add to that the mounting austerity measures the troubled countries are about to face which kills any growth perspective.
  • #12,679
  • Nov 30, 2011 7:11am Nov 30, 2011 7:11am
I am getting ready to add to my existing tripped shorts that I thought would be scaled in, and when I do, it will be large enough to bring this thing back down to 1.18!!!!


This is only a temporary fix. Boost the liquidity to give hope!
  • #12,680
  • Nov 30, 2011 7:11am Nov 30, 2011 7:11am
Quoting Pbh
So short good Tops and buy good Bottoms, good luck
Trade price


POP!!! goes the weasel.
I don't care which way the market is going as long as it's going my way
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