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  • #570,261
  • Dec 5, 2011 11:34pm Dec 5, 2011 11:34pm
Quoting Alexone
'Bundesbank is against using new IMF funding directly for EFSF and US wont participate in boosting IMF funds'.
Is this majorly euro bearish?
  • #570,262
  • Dec 5, 2011 11:35pm Dec 5, 2011 11:35pm
Latest support at 1.315 - 1.32 looks good for long..or maybe even lower when there's a rate cut on thursday..then come the good news on friday/saturday from the summit..bull start on next monday then ?
  • #570,263
  • Dec 5, 2011 11:37pm Dec 5, 2011 11:37pm
Quoting andri66
Latest support at 1.315 - 1.32 looks good for long..or maybe even lower when there's a rate cut on thursday..then come the good news on friday/saturday from the summit..bull start on next monday then ?
Wasn't it just yesterday that everyone believed the price would move up during the week and then fall come Friday?
  • #570,264
  • Dec 5, 2011 11:37pm Dec 5, 2011 11:37pm
Quoting kibescorp
Most investors are NOT going to be impressed with whatever pointless, band-aid solution the ECB may or may not reveal at the end of the week ... something that would only serve to further deny the inevitable truth.
Yeah, I think after something like 60 emergency meetings to solve this crisis, you have to start realizing that the politicians are incapable of solving it. They will not miraculously come up with a solution after months of being unable to make a tiny bit of difference.

Their solutions only make it harder to pay down the debt, and cause greater exposure to the PIIGS. Austerity destroys GDP growth when government spending is the main component of your GDP, and most of their temporary fixes seem to involve increasing the exposure to insolvent nations thereby bringing down the stronger nations as well.

IMHO you'd have to be insane to think this debt will ever be repaid, it's more a question of how long they can pretend for.
"Don't Panic..."
  • #570,265
  • Dec 5, 2011 11:40pm Dec 5, 2011 11:40pm
Quoting Halifax
IMHO you'd have to be insane to think this debt will ever be repaid, it's more a question of how long they can pretend for.

Solution for solving the debt problems: create more debt.

You can only cry wolf so many times before people (investors) start losing faith.

Based on the weak reaction to what happened on Wednesday, I don't think anything they might announce on Friday is going to have much of a positive impact.
  • #570,266
  • Dec 5, 2011 11:42pm Dec 5, 2011 11:42pm
Quoting kibescorp
Solution for solving the debt problems: create more debt.
If only common sense was more important than theory
"Don't Panic..."
  • #570,267
  • Dec 5, 2011 11:43pm Dec 5, 2011 11:43pm
Quoting kibescorp
Is this majorly euro bearish?
This sounds bearish to me because Germany and US wont support Euro. Wish i could explain it better. And this seems to have been the only catalyst for the down move! Maybe some1 with more knowledge about fundies can explain this better. Edit: oh man there was a tech thing too. Didnt see it.
  • #570,268
  • Dec 5, 2011 11:44pm Dec 5, 2011 11:44pm
Suckers at the bottom and suckers at the top. Wait for a solid setup, something that screams buy or sell, everything else smells like greed.
It's easy to be humbled but hard to be humble.
  • #570,269
  • Dec 5, 2011 11:46pm Dec 5, 2011 11:46pm
Quoting mla
Have you been waiting from this morning our time?

mla
Yes been patiently waiting, building, Mofu 3335 achieved, PB time to enjoy rewards
BBL have to manage other ladies, could be decent bounce, so tightening up entries
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If you are new to Forex? Say Goodbye to your account!!
  • #570,270
  • Dec 5, 2011 11:47pm Dec 5, 2011 11:47pm
Quoting fxrising
Suckers at the bottom and suckers at the top. Wait for a solid setup, something that screams buy or sell, everything else smells like greed.
Problem with waiting is that a strong, long-term trend is often triggered by a major fundamental reason.

And the surge is usually strongest at the beginning. So it's almost impossible to "get in on it" if you're not already in a position beforehand.

Especially with something like the summit, which does have a set "time," so the market could react fiercely at any given moment.
  • #570,271
  • Dec 5, 2011 11:51pm Dec 5, 2011 11:51pm
Where is the best place to check the news calendar other than FF ?
If something is too good to be true, it’s probably NOT true.
  • #570,272
  • Dec 5, 2011 11:53pm Dec 5, 2011 11:53pm
Quoting Toldo
Where is the best place to check the news calendar other than FF ?
Forex Factory's calendar is good, but you should refer to Bloomberg for economic news not relating to only what is scheduled on the calendar.
  • #570,273
  • Dec 5, 2011 11:56pm Dec 5, 2011 11:56pm
Quoting KiwiTrada
Yes been patiently waiting, building, Mofu 3335 achieved, PB time to enjoy rewards
BBL have to manage other ladies, could be decent bounce, so tightening up entries
Nice one, how many pairs to you trade?

mla
"The Heart is the hub of all dances; go there and chill out"
  • #570,274
  • Dec 5, 2011 11:59pm Dec 5, 2011 11:59pm
I think the next 15 minutes news will confirm the trend
If something is too good to be true, it’s probably NOT true.
  • #570,275
  • Dec 5, 2011 11:59pm Dec 5, 2011 11:59pm
A long term trend is defined as at least a year, then the cool off periods that go for 1-2 months, but you have your in between trends, none of this is confirmed yet and trends are only happens 20% of the time. Even in 2008 when over months it dropped over 3,000 points, it was still not a trend, just a breaking of an uptrend and entering into a sideways market. So yes could it drop like a stone, maybe, but I am not a long term trend trader, just a near trend trader, I go with the charts and never stay in past a day or 2, mostly I scalp.

Quoting kibescorp
Problem with waiting is that a strong, long-term trend is often triggered by a major fundamental reason.

And the surge is usually strongest at the beginning. So it's almost impossible to "get in on it" if you're not already in a position beforehand.

Especially with something like the summit, which does have a set "time," so the market could react fiercely at any given moment.
It's easy to be humbled but hard to be humble.
  • #570,276
  • Dec 6, 2011 12:01am Dec 6, 2011 12:01am
Made 18 pips

in,1.3368
out, 1.3350

mla
"The Heart is the hub of all dances; go there and chill out"
  • #570,277
  • Dec 6, 2011 12:03am Dec 6, 2011 12:03am
I'm looking at the EUR/JPY daily chart (which nowdays, basically mirrors EUR/USD for the most part), and what I'm interpreting is this:

The price basically retraced up from its longer-term downtrend (that started during the summer) during the month of October. Since the beginning of November, the price has basically been moving back down (albeit slowly). This could be conceived later on, in hindsight, as having been the BEGINNING of the downtrend I am expecting.

At the risk of eating my words later on, I submit that the downtrend is about to TAKE OFF after this week.

This time around, I plan on ADDING (basically doubling) lots at every uptick, and hopefully holding a 49x leveraged position by the end of the fall. Market rape.

I've been a daytrader for most of my time trading. Nowadays it's just become too psychologically-demanding to trade that way. I vowed never to even attempt scalping again. Looking for longer-term plummets for EUR/JPY or EUR/USD as my primary trading opportunities.

It's much easier to wrap your head around the larger timeframes.
  • #570,278
  • Dec 6, 2011 12:11am Dec 6, 2011 12:11am
Quoting mla
Made 18 pips

in,1.3368
out, 1.3350

mla
I am holding my shorts from 1.3405
my initial target is 1.323
If something is too good to be true, it’s probably NOT true.
  • #570,279
  • Dec 6, 2011 12:15am Dec 6, 2011 12:15am
1.329xx is good area for long . it is the 23.6% fib of that up move in daily
Read the chart... Fundies are catalyst...
  • #570,280
  • Dec 6, 2011 12:15am Dec 6, 2011 12:15am
OK just added to short position held since yesterday.
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