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EurAnalysis Kindergarten 24 replies

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  • #14,641
  • Dec 13, 2011 4:21am Dec 13, 2011 4:21am
Quoting michaelnew
I'm scalping up,...
Damn I am so jealous at you scalping guys. You have so much fun. I have fun only at EURUSD thread.

T
"I know one thing, that I know nothing." Sokrates
  • #14,642
  • Dec 13, 2011 4:23am Dec 13, 2011 4:23am
Btw this is my S/R chart. I see strong ressistance at 3281 -3285 zone, next at 3318 - 3324 zone and then our favourite 338 again.

T
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"I know one thing, that I know nothing." Sokrates
  • #14,643
  • Dec 13, 2011 4:31am Dec 13, 2011 4:31am
Bloomberg is speculating that FED may revise zero rate promise today:
http://www.bloomberg.com/news/2011-1...iminishes.html

I think it is a heavy speculation, since FED stated many times (last time fourteen days ago), that they have no such intention and they will keep rates low till 2013. So I see this event as highly unlikely. Very, very, unlikely. If this happens, it will yet again take liquidity out of market mainly from stocks, but it would strenghten USD as well, so it would be bearish sign fo us. But as I said, I dont consider it likely.

T
"I know one thing, that I know nothing." Sokrates
  • #14,644
  • Dec 13, 2011 4:33am Dec 13, 2011 4:33am
Blah, I completely forgot today Mr. Ben speaks and didn't exit my shorts earlier, now I have 2 underwater E/U and A/U shorts. Not too important but I'd rather be long when the helicopter is in town.
  • #14,645
  • Dec 13, 2011 4:37am Dec 13, 2011 4:37am
Quoting Tom_D_Trader
Bloomberg is speculating that FED may revise zero rate promise today:
http://www.bloomberg.com/news/2011-1...iminishes.html

I think it is a heavy speculation, since FED stated many times (last time fourteen days ago), that they have no such intention and they will keep rates low till 2013. So I see this event as highly unlikely. Very, very, unlikely. If this happens, it will yet again take liquidity out of market mainly from stocks, but it would strenghten USD as well,...
Thanks T. Trying to keep up with the news. It's a slow but steady learning progression for me.

As for tech. Got a bullish channel forming.
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  • #14,646
  • Dec 13, 2011 4:37am Dec 13, 2011 4:37am
Does this mean much? I know the day has far from finished, but looks like it could continue long to me. Daily btw.
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  • #14,647
  • Dec 13, 2011 4:44am Dec 13, 2011 4:44am
To me it means that we have to have a daily close over 1.425 to confirm a double bottom, Thats a long way....


Quoting stubbys
Does this mean much? I know the day has far from finished, but looks like it could continue long to me. Daily btw.
  • #14,648
  • Dec 13, 2011 4:51am Dec 13, 2011 4:51am
Quoting stubbys
Does this mean much? I know the day has far from finished, but looks like it could continue long to me. Daily btw.
I know what you mean and yes, it means something. It is kinda new candle pattern imo. If market fails to make clear marubozu candle and is in new lows/highs like now, it may be a sign of market exhaustion and pottential reversal. I consider this pattern weak though. Look at 2008. We had like 10 such "reversal" candles in a row. Today is Bernies day. He may shoot it up and I think he will probably make it, or at least try. I think he is eager to give me a good shorting opportunity.

T
"I know one thing, that I know nothing." Sokrates
  • #14,649
  • Dec 13, 2011 4:53am Dec 13, 2011 4:53am
Quoting Tom_D_Trader
I know what you mean and yes, it means something. It is kinda new candle pattern imo. If market fails to make clear marubozu candle and is in new lows/highs like now, it may be a sign of market exhaustion and pottential reversal. I consider this pattern weak though. Look at 2008. We had like 10 such "reversal" candles in a row. Today is Bernies day. He may shoot it up and I think he will probably make it, or at least try. I think he is eager to give me a good shorting opportunity.

T

Cheers Tom and Swede
  • #14,650
  • Dec 13, 2011 4:54am Dec 13, 2011 4:54am
Btw, there goes a rumour around EURUSD thread, that POBC is going to lower RRR again. Well, who actually knows what is happening in China? Only commrades. But this would be very bullish event. And dont you forget POBC is part of a CB Dark force and is cooperating with FED now.

T
"I know one thing, that I know nothing." Sokrates
  • #14,651
  • Dec 13, 2011 5:04am Dec 13, 2011 5:04am
Think somebody (Redsword11 ?) calls it the empire state pattern.

EDIT: Went outside my knowledge here and confused both the pattern and where i got it from. Redsword should be KenFen and here is a ref http://www.forexfactory.com/showthre...46#post4911146


Quoting Tom_D_Trader
I know what you mean and yes, it means something. It is kinda new candle pattern imo. If market fails to make clear marubozu candle and is in new lows/highs like now, it may be a sign of market exhaustion and pottential reversal. I consider this pattern weak though. Look at 2008. We had like 10 such "reversal" candles in a row. Today is Bernies day. He may shoot it up and I think he will probably make it, or at least try. I think he is eager to give me a good shorting opportunity.

T
  • #14,652
  • Dec 13, 2011 5:07am Dec 13, 2011 5:07am
Quoting Tom_D_Trader
Btw, there goes a rumour around EURUSD thread, that POBC is going to lower RRR again. Well, who actually knows what is happening in China? Only commrades. But this would be very bullish event. And dont you forget POBC is part of a CB Dark force and is cooperating with FED now.

T
Likelihood of a lower rate is very high. Timing, though is an issue. Not sure that the POBC works with the Fed. Chinese stock market is very unhappy... it retuerned to 2001 range. Which, when you think about the Chinese economy growing by about 300% since then, is pretty dire.
Kill the ego, or it will kill the mission.
  • #14,653
  • Dec 13, 2011 5:17am Dec 13, 2011 5:17am
... So much of work pressure .... but now my manager is out for the week and I am back in my favorite site

Clearly EURUSD created a Double Bottom which means you can go ahead with BUY with tight SL and very close eyes on the Market. Always try to have 20-30 pips in pocket and put the trade @ SL+Profit and let it run...but there are sign of fight ...so a longer ranging is what I am expecting ... 1.3360 is the Next Target to watch. Breaking 1.31xx in down is welcome 1.28xx.

Safe Trading...
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  • #14,654
  • Dec 13, 2011 5:19am Dec 13, 2011 5:19am
Quoting AaronWard
Likelihood of a lower rate is very high....
Ofc they work with FED. Do you think that lowering of RRR by POBC together with lowering of swap rates by all other CBs on 30th of Nov was a coincidence? I dont think so.

Btw, lol Swede, Empire state pattern. What a nice new name.

T
"I know one thing, that I know nothing." Sokrates
  • #14,655
  • Dec 13, 2011 5:24am Dec 13, 2011 5:24am
Lol. Cloggie and Incrediblle got suspended and mla banned .

T
"I know one thing, that I know nothing." Sokrates
  • #14,656
  • Dec 13, 2011 5:26am Dec 13, 2011 5:26am
Quoting Tom_D_Trader
Lol. Cloggie and Incrediblle got suspended and mla banned .

T
Really Cloggie has been suspended? Haha I did see he was taking the piss out of Incrediblle's brokerage account, is that why he got banned?
  • #14,657
  • Dec 13, 2011 5:36am Dec 13, 2011 5:36am
Sad day hope he will be back. Cloggie that is.

Quoting Tyoon
Really Cloggie has been suspended? Haha I did see he was taking the piss out of Incrediblle's brokerage account, is that why he got banned?
  • #14,658
  • Dec 13, 2011 5:36am Dec 13, 2011 5:36am
Quoting jeff_b
Blah, I completely forgot today Mr. Ben speaks and didn't exit my shorts earlier, now I have 2 underwater E/U and A/U shorts. Not too important but I'd rather be long when the helicopter is in town.
US Retail sales numbers released - 0.6% expected 0.2% actual

that should be bullish for euro

trade well,

LP
patience is a virtue
  • #14,659
  • Dec 13, 2011 5:38am Dec 13, 2011 5:38am
Sorry but I dont see the double bottom.
It should look like a W with a close above.

Quoting rekon67
... So much of work pressure .... but now my manager is out for the week and I am back in my favorite site

Clearly EURUSD created a Double Bottom which means you can go ahead with BUY with tight SL and very close eyes on the Market. Always try to have 20-30 pips in pocket and put the trade @ SL+Profit and let it run...but there are sign of fight ...so a longer ranging is what I am expecting ... 1.3360 is the Next Target to watch. Breaking 1.31xx in down is welcome 1.28xx.

Safe Trading...
  • #14,660
  • Dec 13, 2011 5:40am Dec 13, 2011 5:40am
Could very well be bullish for EUR. But its a risk off number. Should be bearish for EUR/USD.

Quoting lovepips
US Retail sales numbers released - 0.6% expected 0.2% actual

that should be bullish for euro

trade well,

LP
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