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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #15,041
  • Dec 14, 2011 2:09pm Dec 14, 2011 2:09pm
Quoting FXMindset
SHARINGAN!my eyesss ~ !
Did not expect to see a refrence to Kakashi or Sasuke (Uchiha) here lol.
  • #15,042
  • Dec 14, 2011 2:13pm Dec 14, 2011 2:13pm
Quoting amr10000
Did not expect to see a refrence to Kakashi or Sasuke (Uchiha) here lol.
You'll see all kinds of references here. This thread is full of comical fictional characters.
Those who say it cannot be done should not interrupt those who are doing it
  • #15,043
  • Dec 14, 2011 2:22pm Dec 14, 2011 2:22pm
Worked out how to do it. What/who can you see?

Soften your eyes and shake your head.... and...... pick your nose.
Attached Image
  • #15,044
  • Dec 14, 2011 2:30pm Dec 14, 2011 2:30pm
Quoting Tyoon
Worked out how to do it. What/who can you see?

Skull and crossbones
Those who say it cannot be done should not interrupt those who are doing it
  • #15,045
  • Dec 14, 2011 2:54pm Dec 14, 2011 2:54pm
Quoting PipTrapper
Attachment
it's like you read my mind
  • #15,046
  • Dec 14, 2011 3:02pm Dec 14, 2011 3:02pm
Quoting Tyoon
Worked out how to do it. What/who can you see?

Soften your eyes and shake your head.... and...... pick your nose.
put ur laptop screen forward and u can see

although i did pick my nose just in case the screen thing didnt work

LOL
Have I got something on my face, SOLDIER?
  • #15,047
  • Dec 14, 2011 3:04pm Dec 14, 2011 3:04pm
Quoting PipTrapper
Skull and crossbones
Not a very scary one when it's wearing a goofy safari hat.

I think FXMindset was looking for something scarier than that today
I don't care which way the market is going as long as it's going my way
  • #15,048
  • Dec 14, 2011 3:08pm Dec 14, 2011 3:08pm
Quoting PipKiller
Not a very scary one when it's wearing a goofy safari hat.

I think FXMindset was looking for something scarier than that today
I think he was looking for something like this...

http://t0.gstatic.com/images?q=tbn:A...qHFJBE_EO7q-0g
Those who say it cannot be done should not interrupt those who are doing it
  • #15,049
  • Dec 14, 2011 4:07pm Dec 14, 2011 4:07pm
Who knows what will happen tonight, I am expecting a big cascade down during the Asian session, but just in case since I got in at 1.3005, I put my stop at 1.30 even. Come one people, let's push this thing down to 1.29 so I can bag 100 pips and then go long :=)
  • #15,050
  • Dec 14, 2011 4:11pm Dec 14, 2011 4:11pm
Quoting nyfx718
Who knows what will happen tonight, I am expecting a big cascade down during the Asian session, but just in case since I got in at 1.3005, I put my stop at 1.30 even. Come one people, let's push this thing down to 1.29 so I can bag 100 pips and then go long :=)
Asia has not been active at all so far this week, so I see no reason for that to change tonight. You'll just have to hang in there and hope for bad euro econ data tomorrow, or settle for 5 pips and look forward to a better shorting opportunity after upward correction.
Those who say it cannot be done should not interrupt those who are doing it
  • #15,051
  • Dec 14, 2011 4:19pm Dec 14, 2011 4:19pm
I don't believe the bear has eaten his whole share yet. Dessert to come.
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  • #15,052
  • Dec 14, 2011 4:23pm Dec 14, 2011 4:23pm
Fitch downgrades five major European banks

As usual, wait until the markets close to throw out a rating decision. That might leave a mark tonight and tomorrow.

Now lets see how fast Moody's and S&P come out with their ratings decisions.
I don't care which way the market is going as long as it's going my way
  • #15,053
  • Dec 14, 2011 4:26pm Dec 14, 2011 4:26pm
Quoting PipKiller
Fitch downgrades five major European banks

As usual, wait until the markets close to throw out a rating decision. That might leave a mark tonight and tomorrow.

Now lets see how fast Moody's and S&P come out with their ratings decisions.
Any chance Asia will price that in?
  • #15,054
  • Dec 14, 2011 4:38pm Dec 14, 2011 4:38pm
Quoting PipTrapper
Asia has not been active at all so far this week, so I see no reason for that to change tonight. You'll just have to hang in there and hope for bad euro econ data tomorrow, or settle for 5 pips and look forward to a better shorting opportunity after upward correction.
A lot of high and medium impact European and US data tomorrow. A lot of people talking up the Swiss raising the floor too that I think is going to disappoint when they don't.

Downward momentum slowed today but it didn't reverse. We are close enough to 1.29 that unless we get some good hopium I think that level and possibly lower will be a magnet and attacked by 10am NY friday options expiry.

I'm still holding my short from 1.3388 as well as several other pairs in a "risk off" position.

Hurry up and wait
I don't care which way the market is going as long as it's going my way
  • #15,055
  • Dec 14, 2011 4:50pm Dec 14, 2011 4:50pm
Quoting Tyoon
Any chance Asia will price that in?
Your guess is as good as mine with Asia, I don't do well trading Asia. They seem to have a tendancy to take everything the opposite direction from NY most of the time so I don't do anything in this session now but adjust swing positions around 0000 GMT, eat dinner, watch TV and sleep.

If I were to make a call on Asia tonight, I think if anything moves Asia tonight it will be Japan Tankan survey or China HSBC PMI. If this doesn't move Asia expect tight sideways trading while they wait it out for the European and US data which is in focus for tomorrow.
I don't care which way the market is going as long as it's going my way
  • #15,056
  • Edited 5:44pm Dec 14, 2011 5:18pm | Edited 5:44pm
Quoting PipKiller
Your guess is as good as mine with Asia, I don't do well trading Asia. They seem to have a tendancy to take everything the opposite direction from NY most of the time so I don't do anything in this session now but adjust swing positions around 0000 GMT, eat dinner, watch TV and sleep.

If I were to make a call on Asia tonight, I think if anything moves Asia tonight it will be Japan Tankan survey or China HSBC PMI. If this doesn't move Asia expect tight sideways trading while they wait it out for the European and US data which is in focus for...
If there is somehow hopeus news tomorrow it will work out well as a correction on the chart.
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  • #15,057
  • Dec 14, 2011 5:37pm Dec 14, 2011 5:37pm
Amazing how many people are still expecting a correction to come "anytime now."

It's not going to happen.

This downtrend has JUST started, any retracement is going to be small and insignificant. Mostly it's just going to be consolidation/tight ranging followed by further movement to the downside.

All this stuff about "unfinished business" and "due for a retracement" means absolutely NOTHING in this current environment. The ECB basically said last week they're going to be sitting on their hands for the forseeable future, and the FOMC pretty much just said they're going to be doing the exact same thing.

Those that don't believe a continuous drop of 1000 pips is possible without a strong retracement, kindly refer to the daily charts for 2010.

It is not only possible, but the WORSENING of the crisis warrants even stronger, steeper falls heading into next year than what was seen last year. If the euro can drop like it did when 2010 started, it can certainly drop MUCH further and much harder now, two years later into their abyss of economic turmoil, from which there can be no exit.

Understand that the fundamentals right now supercede anything else that has been seen in the history of currency trading. You can keep trying to guess the price movement based on technical patterns and whatever other so-called "tools" and bells-and-whistles and what have you ... but the market isn't paying any attention to that. It's just going to be selling. And then selling some more.

Bottomline, the news just keeps getting worse and keeps pointing to a much stronger drop that hasn't even begun yet. Why should there be a retracement before then? Who is going to be stupid enough to buy in such a negative environment? For the forseeable future, I can guarantee that making trades based on technical calculations and patterns is going to net you negative profits at best and the end of your trading account at worst (unless you're so highly leveraged that the next move blows past your stop and sends you into debt).

All I'm concerned about right now is what the best price would be to add MORE lots to my short, not pulling out and certainly not placing a BUY order.

And honestly, what in the hell could Draghi possibly say that's going to inspire investor confidence now? If anything, his speech is going to be the last of the fuel needed to get this mother going.
  • #15,058
  • Edited 6:14pm Dec 14, 2011 5:55pm | Edited 6:14pm
Quoting kibescorp
This downtrend has JUST started
It started a few months ago.

Quoting kibescorp
Those that don't believe a continuous drop of 1000 pips is possible without a strong retracement, kindly refer to the daily charts for 2010.
Noone said anything about a strong retracement. Watching for a correction. Even the steepness of 2010 had strong corrections.

Quoting kibescorp
Understand that the fundamentals right now supercede anything else that has been seen in the history of currency trading. You can keep trying to guess the price movement based on technical patterns and whatever other so-called "tools" and bells-and-whistles and what have you ..
It's very obvious that news is bad. Technical work is used for specificity for enteries and exits.

TBH I don't think anyone with sense would go long if there is negative news tomorrow. If there is a bit of good news and price reacts to that then now would be the best time for a correction.. even if it's a little one.

Quoting kibescorp
It's not going to happen.
"ANYTHING is possible ... and NOTHING is certain. Nothing lasts forever, but nothing ever stays gone forever either."
- Your blog fotter

Safe trading.
  • #15,059
  • Dec 14, 2011 6:37pm Dec 14, 2011 6:37pm
Germany and France are already minting old coins.
  • #15,060
  • Dec 14, 2011 6:39pm Dec 14, 2011 6:39pm
Quoting kibescorp
...
If you feel so strongly about it, leverage up and go in heavy. Technical bounces can and will happen despite the trend
Any prices quoted are futures
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