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  • #577,361
  • Dec 22, 2011 11:07am Dec 22, 2011 11:07am
Draghi not but two other guys performed:
ECB will lend 500 bl eur to about 500 european banks
markets treat it rather negative as the situation of those banks is probably very weak; more than 1500 banks applied for a loan from ECB
  • #577,362
  • Dec 22, 2011 11:23am Dec 22, 2011 11:23am
Quoting bittervenge
I was planning to post this chart yesterday but couldn't manage to.
On the H4 chart, the H&S is almost complete, I'm waiting for the candles to close below the trendline. It wasn't strong enough to even get near the upper trend line.
I believe the right shoulder might be formed tomorrow, and things will go down to at least .29800-.29600 ( I know its a wide guess).

definately the trendlines are nicely put. I just like to point out the other one, which also play some role in defending bear market. If we have a strong rejection at those lines *as we did we should not come back quickly...as yet we did not...which is good for bears.

Im short dollar atm, so I expect another try up to those lines.

Agree on the levels which should be broken...1,2970...if this is broken we could have a runner.

It is true also that 1,30 is a bijatch.
Attached Image (click to enlarge)
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  • #577,363
  • Dec 22, 2011 11:37am Dec 22, 2011 11:37am
have the same
watching that symmetrical triangle between lower blue and lower red and the flag also; both probably are signs of further drop down, but not this week, I think
  • #577,364
  • Dec 22, 2011 11:37am Dec 22, 2011 11:37am
taken a short here
  • #577,365
  • Dec 22, 2011 11:39am Dec 22, 2011 11:39am
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd4h.gif Size: 27 KB
  • #577,366
  • Dec 22, 2011 11:39am Dec 22, 2011 11:39am
Quoting bittervenge
I was planning to post this chart yesterday but couldn't manage to.
On the H4 chart, the H&S is almost complete, I'm waiting for the candles to close below the trendline. It wasn't strong enough to even get near the upper trend line.
I believe the right shoulder might be formed tomorrow, and things will go down to at least .29800-.29600 ( I know its a wide guess).

Hi I am not a H&S follower but the channel looks good and if we can get back below 1.30 then I have my eyes on 1.2907
  • #577,367
  • Dec 22, 2011 11:40am Dec 22, 2011 11:40am
131 plus change by tomorrow 10 am then maybe they look down the tunnel to 129 after xmas
  • #577,368
  • Dec 22, 2011 11:43am Dec 22, 2011 11:43am
where can i watch obama's speech? will there be any broadcast?
  • #577,369
  • Dec 22, 2011 11:45am Dec 22, 2011 11:45am
Quoting 21vs7
definately the trendlines are nicely put. I just like to point out the other one, which also play some role in defending bear market. If we have a strong rejection at those lines *as we did we should not come back quickly...as yet we did not...which is good for bears.

Im short dollar atm, so I expect another try up to those lines.

Agree on the levels which should be broken...1,2970...if this is broken we could have a runner.

It is true also that 1,30 is a bijatch.
First of all thanks for commenting on the chart. Glad to see it makes sense to you too.
Right now I will only go short if the shoulder goes below the neck line. at around 1,3010, but yes, its a bit worrying because of the "psychological" number. You think its too risky , should wait for a candle to close below 1.30?
  • #577,370
  • Dec 22, 2011 11:51am Dec 22, 2011 11:51am
Quoting bittervenge
First of all thanks for commenting on the chart. Glad to see it makes sense to you too.
Right now I will only go short if the shoulder goes below the neck line. at around 1,3010, but yes, its a bit worrying because of the "psychological" number. You think its too risky , should wait for a candle to close below 1.30?
From few weeks back I was expecting her to be 1,2790 today but she aint. So, what the hell do I know.

I will not sell it now...sell her when she bounces.
  • #577,371
  • Dec 22, 2011 11:53am Dec 22, 2011 11:53am
Quoting meczywor
where can i watch obama's speech? will there be any broadcast?
whitehouse.gov/live
  • #577,372
  • Dec 22, 2011 12:02pm Dec 22, 2011 12:02pm
Quoting MaxDoom
Hi I am not a H&S follower but the channel looks good and if we can get back below 1.30 then I have my eyes on 1.2907
Thanks, yes, better to be on the safe side, below .3000. I would have eyes at .2950 as it might find another support at the low around the 13th of this month.
  • #577,373
  • Dec 22, 2011 12:08pm Dec 22, 2011 12:08pm
I think his speech is a non-event really for the markets he is simply try to pressure the tax cut decision. His speech will not add anything people don't know already
  • #577,374
  • Dec 22, 2011 12:11pm Dec 22, 2011 12:11pm
Quoting MaxDoom
I think his speech is a non-event really for the markets he is simply try to pressure the tax cut decision. His speech will not add anything people don't know already

Exactly right....
  • #577,375
  • Dec 22, 2011 12:14pm Dec 22, 2011 12:14pm
Quoting troutguy
Exactly right....

and with that I am out of here cya
  • #577,376
  • Dec 22, 2011 12:48pm Dec 22, 2011 12:48pm
Hi all...

Been working on my TA techniques for the EUR/USD

Attached are the hourly and 5 minute for a zoom in.

This along with the bottom I see back Nov. 2010 on the monthly suggest to me there may be some upside here, in the short term at least.

Thought I would toss it out there and see what the consensus might be.

Im still working to perfect this stuff from Magee's book so...


Im not in this one..........just analyizing ;-)
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusd 5 minute.gif Size: 23 KB
  • #577,377
  • Dec 22, 2011 1:52pm Dec 22, 2011 1:52pm
Quoting Incrediblle
greed is really bad
It certainly is. You might have learned your 1st lesson in trading here... only another 10,000 lessons to go for you.

You see what happens with greed is that you over-leverage and then the market turns and you lose your shirt. Let me remind you of what greed looks like, which I half-inched from your incredible journal in which I yet have to find a winning trade, certainly in the last few pages.

I would have posted in there, but for some reason I have been banned from doing so, so I am responding to you in here.

Anywhere, here is the pic of your account that you posted in your journal, which I believe was done on just two trades -

Attached Image


Now that is what I call incredible. (Notice the spelling!).

The other classic that keeps popping up in your journal are when you start the sentence with 'shud have...'

Hindsight is a wonderful thing... Should've, could've, would've!

Merry Xmas Mr Incrediblle
  • #577,378
  • Dec 22, 2011 1:54pm Dec 22, 2011 1:54pm
Someone has to do the poking in Cloggie's absence. I hope he doesn't mind me playing with his toy for a while.
  • #577,379
  • Dec 22, 2011 1:57pm Dec 22, 2011 1:57pm
Quoting bbakker
It certainly is. You might have learned your 1st lesson in trading here... only another 10,000 lessons for you to go.

You see what happens with greed is that you over-leverage and then the market turns and you lose your shirt. Let me remind you of what greed looks like, which I half-inched from your incredible journal in which I yet have to find a winning trade, certainly in the last few pages.

I would have posted in there, but for some reason I have been banned from doing so, so I am responding to you in here.

Anywhere, here is the pic of...

There's a definite difference between slowly taking your trades and squeezing out a probable edge.....trading 20 times and winning 15 out of 20, or even 10 out of 20 but for more pips, and Winning 10 trades in a row with 100:1 leverage and thinking you are good, to only take 2 trades wrong, and suddenly find your account down 33%.

This is why the washout rate in FX is soooo high.
  • #577,380
  • Dec 22, 2011 2:03pm Dec 22, 2011 2:03pm
Quoting bbakker
Someone has to do the poking in Cloggie's absence. I hope he doesn't mind me playing with his toy for a while.
Here's the stick.

Just blow off the dust...
Attached Image
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