EurAnalysis

My pp on yesterday and the day before. Is not the single chart. My setup is formed by 4 charts. it's kind of complicated, and i don't think anyone can understand it.

In a year or two you will look back to this posts about indicators and find it quit amusing.

Been there, done that :-)

We've all been there and done that.
No child will ever believe that the burner on the cooker is hot not matter how many times they are told.
They will only believe it once they touch it.
This is all part of the education process and is a critical part of becoming a Forex trader.
Load your charts with indicators and then eventually get rid of the ones that are of least use. That is how systems are perfected.

I would say, how can EFSF be positive while it is overfilled with toxic CCC bonds?

T

Nobody wants any part of the stupid frankenshit EFSF... out of the 1trl capacity they have managed to sell 3bln... oh and half that was bought by itself

what a crock....

I see a STAR setup, but I dont know what kind of star is it...

..well then i would prefer sticking with my simple naked chart .. i want to trade not want to end up with confusion

I find this article quite interesting. I know is in spanish, but maybe you can use google translator or similar.
"Antes de que fuese creada la Unión Monetaria Europea (UME), muchos economistas escribimos, a principios de los años noventa, sobre los peligros de crear la UME en un área monetaria no óptima como la europea, hacerlo sin un banco central que fuera prestamista de última instancia y sin una unión fiscal paralela o un enorme fondo europeo para hacer frente a los choques asimétricos que pudiesen tener algunos de sus Estados miembros..." to read more:
http://www.elpais.com/articulo/prime...lpneglse_4/Tes

Q: What kind of STAR manages to go higher the more it get's screwed?

A: A 19 year old female wannabe movie star who just arrived in Hollywood.

Translation:

Before it was created the European Monetary Union (EMU), many economists wrote in the early nineties, about the dangers of creating the EMU monetary area such as Europe's best, to do without a central bank was a lender of last resort and without a fiscal union or a massive parallel European fund to deal with asymmetric shocks that could have some of its Member States.

In the absence on 9 December 1st step, the euro could even break

However, these warnings were not taken into account the priority of political will on reality, so we thought that someday one or more of its Member States could be in acute crisis that could not leave alone. It ended up happening after 10 years of euro.

In addition to the eurozone these two design flaws, its leaders have shown an incredible inability to act when the crisis has arisen. Proof of this is that two years and one month after the October 20, 2009 Greek outbreak of the crisis, which was perfectly manageable, it still has not been exceeded by the incompetence or ill will displayed in its management.

First, do not let the IMF deal with Greece considered a stigma for the eurozone, although this had experience and funds to solve it.

Second, spent eight months doing nothing while the IMF may have undergone a tough Greece reform program in exchange for preventive credit line and today we have restructured their debt, the contagion being the only Member State insolvent.

Third, on May 3, 2010 was granted a loan to Greece of 30,000 million euros at an interest penalty of 5%. The reaction of investors was very negative, and on the morning of May 10 were created EFSF and EFSM facilities for fear of a collapse in prices of financial assets. The use of these instruments, however, was restricted by not being able to buy much debt in the secondary market, but only give loans at rates of 5.8% at five years when funding to 1.9%. Thus began the spread to Portugal and Ireland, in calculating the investors who could not afford such expensive loans.

Fourth Summit of Deauville October 18, 2010 created even more confusion among investors, announced the creation of a permanent mechanism, the ESM, which would replace the EFSF in 2013, but in exchange for issuing all debt had collective action clauses (CACs), forcing the holders to accept its restructuring and default. This caused another big slump in bond prices, where the vast majority of creditors were their own banks, pension funds and insurance companies, triggering the rescue of Ireland on December 7, 2010.

Fifth, three days later, Juncker and Tremonti proposed Eurobond issuance of up to 60% of the debt of each country to prevent further infection, but were rejected, creating further uncertainty even though emissions were already quasi EFSF Eurobonds.

Sixth, the Council of 12 March 2011 adopted the Covenant by the Euro (Euro Plus Pact), requiring each Member State to comply with unit labor costs in Germany, it is almost impossible to be the only member who had already made ​​a internal devaluation. Prohibiting the ESM buy debt in the secondary market, giving loans only in exceptional circumstances, requiring unanimity among the 17 members, paying only if private investors paid and imposing that if a country agrees to the ESM, all private investors will be the last charge, after the IMF and the ESM, going to be junior debt. This decision led to another great debt meltdown and the bailout of Portugal on May 4, 2011.

Seventh, July 11, 2011 the Eurogroup decided to postpone sine die the second tranche of bailout of Greece, starting with the spread to Spain and Italy, two countries too big to fail and be rescued.

Eighth, the Council of 23 October decided to allow the EFSF might buy debt in the secondary market and leverage it up to one billion euros through a special purpose vehicle (SPV) would issue several CDO, ensuring their first loss EFSF up to 20 % and placing the other sections among investors. He went to China, Brazil, Russia and oil exporting countries, with no success. In addition, investors had already calculated that it would be enough to save Italy and Spain.

Ninth, now announces that the December 9 Council to approve a reform of the treaties to impose greater fiscal discipline and efficient Member States through the creation of a European finance minister with political independence, as the ECB that only accountable to Parliament. This one could be a very important step for the future of the eurozone.

The problem is that changing the treaties can take about two years or more, needing a convention that would precede an intergovernmental conference and then a favorable vote of all the European parliaments, and not enough time. The eurozone is already choked with their banks without funding, with some Member States to pay unsustainable rates, with their governments cutting spending and raising taxes, families and businesses deleverage and the ECB lowering rates slowly. That is, moving quickly to another recession like 2008-2009 or worse.

It would be more logical to use the system of enhanced cooperation that was introduced in the Nice Treaty which allows a minimum of eight of its Member States to deepen its integration if they wish, but the rest do not want to. Sweden and Poland and others may even take to enter the eurozone. That's how you achieved the Schengen agreement.

Also, the European minister should have a ministry able to monitor levels of debt and deficits of its member states, able to veto national budgets and to impose mandatory sanctions. Logically, in return for this greater discipline, the ministry should also assist States to members suffering asymmetric shocks or other crises and, above all, who could issue Eurobonds jointly and severally guaranteed either directly or through an agency European debt.

In the ministry should depend supervisory authority and resolution of European banks. Both authorities should be funded by the European budget or new taxes in Europe. If there is something that Merkel and Sarkozy agree is a tax on certain financial transactions that could be devoted to fund the fledgling union of the future fiscal and ESM. If this limited fiscal union worked, there would be no objection to the ECB to act as lender of last resort, as authorized by section 123 of the Treaty of Lisbon to purchase all the debt whenever you want in the secondary markets and States not directly to issuers.

These ideas could be a reality or merely a fairy tale, but not to be the 9th of December 1 step to solve the design flaws of the eurozone, the euro could even break causing a cataclysm.

EDIT: TOP OF PAGE

Ah I wish I were a scalper again. We are meddling in our good old friend S/R at 3384 - 3398 and I am still waiting and waiting and wai....

T

You sure you read the first page? Our lord and master( )said to keep it clean.

great job, buddy!

Hey, dont you mock messy charts!

Viva Google Translator

You got a target ? Or how low you wanna get ?

Suddenly miss some of my friends here,dont know why,once a home its still like a home
While in Holiday Season,Money still must be make in order for living
Here the update
took 108 pips today for 2 short and 1 long

It's good to see you my friend.

Yeah, first job as a pornstar gets a lots of screwed...