EURUSD

magic

look at the smaller tf's it moved 115 pips in 1 minute. its not a trend if it moves that fast its just sentiment/consensus that people with big money wanted to buy.....

i do agree that when stops get taken out it helps price shoot, but that doesnt equate for the rest of the move, it was big money moving it up, not the stop losses.....

do you think the retrace from 1.3505 was the big boys taking profits or was there big sell orders sitting there that forced price back down?

1hr never even turned red...follow the colors for small profits

TP

Thanks god, that I didn't get slipped on this one.

Well, what can I say? I love my broker

Looks like the 3420-50 resistence is clear broken. I suggest do not try to short until 3610, it is very possible to test 3610 later this week.

:o ?

yes , I am using Price Action Strategy and waiting for pullback time.

I got my trades in so I have a few mins to talk about what happened today a bit more here.

Fist of the Chinese lowered their RRR, that means there is an increase of money supply to promote growth, that was directly seen in the increase of WTI and Gold on the anticipated increase demand in both. That in turn carried through the commodity currencies as I explained hours ago here on the thread.

We then had a healty number out of the US, that means that there is a bit more light at the end of the tunnel so the big boys need to put their cash to work, cash does nobody any good nowadays with T where it is at so they move their cash to ETF's and equities trying to chase that tiny bit of return, that in turn means that the supply of dollars decreases and that in turn has a direct effect again on EURUSD.

We then get the real bombshell, a concerted effort by all the CB's at the same time on 2 fronts, a 50bps cut in swap rates for EACH currency and a reduction of margin requirements, that again increases the money supply (if you look at the latest ECB numbers the M3 supply was becoming worriyngly small as of late)

That increase in moneysupply needs to be put to use somehow as cash may be king, however it doesn't give you that return on capital you are looking for, so that in turns drives the risk back on, if there is a risk appetite, the untlimate supply of dollars around the world decreases as there is a transfer from dollars (everyithing in the world is priced in dollars) to risk based assets, furthermore the ECB move here in Europe means that the dwindling M3 supply is being articficially addressed, thereby increasing the liquidity intermarket, which has shrunk as of late as shown by the overnight deposits with the ECB.

So it is not as simple as risk on therefor EU up, there is a lot more behind the scenes that one needs to think about all the time.

However, there is no need for any WTF's, any trader worth his salt would have had various shapes and forms of similar scenarios going thorugh his mind over the last few months.

Is this a permanent solution to the crisis the EU is facing, of course not, however it is a temporary fix till Germany gets of its @Rse.

wohooooooooooooooooooooooo what a spikeeeeeeeeeeeee

Alhumdollilah

turn ur lightbulb on for a second. people bought on news. people who went short got their butt handed to them because their Stops are hunted aka hit. if my stop is hit, its hunted. thats waht i meant.

so ur 'result' is because OF BUYERS IN THE MARKET DUE TO NEWS. the momentum is stronger due to buy stops hit. come on think a little
if u dont get it, dont speak.

Your butterfly might wanna fly alot higher.

Cloggie can you explain why EUR/CHF didnt spike?

Two pendings hit at 1.35300 ...

2011-11-30 _ (15h01 CET) EUR-USD _ 005min _ 000 barchart 300-502-30




;-|

I'm long now, but will be looking to sell this rally that's for sure, US jobs up because of seasonal hiring, all those retailers hired workers at $8 to $10 an hour to meet the Christmas shopping rush, they'll be laying them off end of Jan-early Feb, and the fact that the Central Banks did this today tells us how bad it really is out there, probably a major bank failure was going to happen this week which is why they acted.

Also, stop entry orders get tripped = double price shot

Where is the dollar in EC? You entirely missed the meaning and reasoning of my post.

thanks for the explanation, you make it sound so easy to understand.