EurAnalysis

Well I guess they're not my targets any more. Now they're OUR targets

Not sure about next few hours. Trading is pretty well done for today.
If it doesn't go down tomorrow, there may be more short coverings before the weekend which will drive Euro a bit higher. However, it's a bull trap. Don't get sucked in

Hi buddy

Just been pretty busy doing a lot of backtesting and laying new tile flooring in the main entrance and foyer. I have a lot of stuff going on this year already. Pretty much stay out of trading much the first week of the year after going flat in december to see what was going to happen without a good Santa Claus rally.

Castle Stone in a custom cut 5 piece pinwheel pattern. Looks much better in person than the picture shows. This stuff looks great with a charcoal colored grout.

Is it possible to code the "mtf overlay chart" so that it starts at the open of a day/week/month instead of changing based on the screensize.

regards

Thijs

Ewwwwwwwwwwwwwwwww

Short after the 7 pip higher high - a San Miguel trade for beer money as the US traders come back from lunch - SL already gives me a few bottles, TP a few cases....

Here you are mate.

..

May I ask where you got this overlay from? I'd like to get a copy of it.

TIA

Right here.

Thanks!

Anyone trading crude? Or anyone know why it's plummeting?

http://www.forexfactory.com/news.php?do=news&id=336409

not 100% sure what this means, but this seems to be the reason.

Wish I was! That was a nice 240 pip drop for a total of 395 from today's high. I'm surprised currencies are not reacting more to the drop.

I do not kno how to do a screen shot. I see many charts go up and down. I use them. I can and do make money trading currencies. If you taught me how to do a screen shot VS the Money shot do you think that would help you learn something from me. My EDGE is my knowledge and trading experience and following the money flow. If I learn how to do a screen shot do you think that I will become a better trader.

I can tell you which way the charts will go without even looking at one since the money flow moves around asset classes and the charts then always change.

All opinions are welcome here.

Have a nice day and make sure you get to bed earlier tonight. A lack of sleep makes one cranky.

At 68 I only need 4 to 6 hours sleep a night. At 16 I sometimes slept 10 to 12 hours.

Young is good however I love being 68 with Life Experience and just a little wisdom.

Take care my dear Grandson.

Know Not It All !!!

Thanks for that mate.. From what I gather is that the western world will continue to import their oil from Iran so no supply shocks= sell off..

Also a good read for anyone highly anticipating a shirt position on the Greek drachma http://www.forexfactory.com/news.php?do=news&id=336404

That sounds like a good explanation. Here it is again.

The West Blinks - Iran Embargo Likely To Be Delayed By Six Months
From zerohedge.com
http://www.forexfactory.com/images/misc/news_quote.gif And so the escalation ends, if only for the time being, as Iran chalks a (Pyrrhic?) victory. EU IRAN OIL EMBARGO SAID TO BE LIKELY DELAYED BY SIX MONTHS Why? Because the world slowly realized that the potential surge in oil prices would tip a world already on the verge of a recession even deeper into economic contraction. Not rocket science, but certainly something the US president apparently has been unable to comprehend, espeicially if hoping that he would merely transfer exports from Iran to his close ally Saudi Arabia which would cement its European market monopoly even further. In other news, ... (full story)


I specialize in trading forex. I have and do trade stocks, commodities and options. At the moment I only trade currencies. Trading Oil is a specialty market and it takes constant knowledge and being aware of the issues. Not many could guess that the Oil Embargo would end if it actually has. Trading Oil at the moment is HIGH RISK because of the Middle East.

I prefer the safety of trading EUR/USD at leverage of 100-1 with A Trade Plan, Good Money Management and Risk Management. Sometimes we can dance at many weddings and not dance as good as we might because of fatigue and lack of concentration on our main Wedding.

Just some thoughts I share here.

No More Trades for me today approaching 5:00 PM EST Rollover Time. My 15 Minute Oanda Chart just went RED as per my SAR indicator. I am sorry that I can't do a screen shot to show everyone. Have a good rest of day. I am off to do other things. Too many hours in front of the monitors is not a good thing. A walk in the snow should be fun.

I hope you opened a sell for me kno?

My only focus now is going short EUR/USD at the right moment. That moment might come around 2:00 AM EST to 6:00 AM EST on Friday.

Some people do not trade on Friday's. I want to see if EUR/USD can BREAK 1.2845 before I consider a change in my present Trade Plan.

Tomorrow is another day and remember there is always another day trading forex. Only make a trade when you think you have an edge and use Stop Loss in case you are wrong. We are all wrong occasionally and that is part of letting go and move to another Trade Plan with a clear mind and a better view of things. That is harder to do with positions under water.

Pyschology is 50% of being a winning trader.

Good Trading and later...

This might be getting old but here it goes: the market was dead again today. There was a little volume (better than the last few days), but NO volatility whatsoever.

The market is indeed a ZOMBIE; however, the title of today’s missive refers to a piece written by Bill Bonner here http://dailyreckoning.com/worlds-biggest-zombies/#ixzz1jD65LOdl Please enjoy this while the Zombie ES keeps stumbling across your screen looking for brains to munch on.

01/09/12 Baltimore, Maryland – Not much action at the end of last week… Gold closed the week over $1,600. Oil remained over $100.

The show goes on!

We are watching the destruction of an empire. All empires must go away sometime. They are natural things. And nature puts a time bomb in everything she creates.

The US empire is doomed. Just like all the others that went before it. It is doomed by nature herself — condemned by the gods to blow up and die.

None of this should be surprising to you, dear reader. We’ve seen this movie before. Hundreds of empires have come and gone. We know how this movie ends. More or less.

What we know for sure is that the US is going broke. There is hardly any other plausible outcome. We’ve gone over the numbers so often we don’t need to repeat them.

Yes, it is true that the feds could still save themselves….if they had the will. They could cut taxes to a flat 10%…and spend only what they raised in tax revenue… That would do the trick from an economic point of view.

But it’s too late for that — politically. Empires have lives of their own. They go forward…expanding…spending…stretching…until, boom, they go too far. Empires do not back up.
Some merely go bankrupt. Others are defeated in war. All end disastrously.

Only one candidate favors rescuing the nation’s finances and pulling the empire back from disaster. Ron Paul. He is considered such an unelectable kook that the newspapers barely mention him. And the papers are right. He is unelectable. Because he is opposed by the zombies.

We have explained how government really works. It is barbarism in action. Powerful insiders use force — police and military force — to transfer wealth and status to themselves. In the process, they turn their clients…and themselves…into parasitic zombies. The zombies support the insiders. The insiders throw the zombies a bone or two. Together they corrupt and destroy the empire.

Here is just one example from last week’s news. Bloomberg:
Despite the sluggish economy, the nation’s major health insurers have prospered in large part by expanding their role in government programs such as Medicare and Medicaid, according to a study released Thursday.

The share of large insurers’ revenues contributed by their Medicare and Medicaid business has jumped from 36 to 42 percent over the past three years. And the report by Bloomberg Government, a research division of Bloomberg LP, suggests that insurers will further increase their reliance on federal dollars with full implementation of the health-care law in 2014 — when Medicaid will expand to cover an eventual 16 million additional low-income Americans and the federal government will begin subsidizing private-insurance policies for an estimated 19 million more.

The insurers have become zombified. They no longer do honest work for honest reward. Instead, they lobby for more federal spending on health. They tweak the nation’s laws and its public health programs to make sure they get the grease. They are insiders now…

But no sector has more zombies in it than the ‘national security’ industry. Dwight Eisenhower warned the nation in 1961 to watch out for the ‘military, industrial complex.’ He might have saved his breath. The zombies had already taken over. The US was already spending more on ‘defense’ than the net income of all American corporations put together.

“In the years since,” writes Todd Purdum in Vanity Fair, “the trend has warped virtually every aspect of national life, with consequences that are quite radical in their cumulative effect on the economy, on the vast machinery of official secrecy, on the country’s sense of itself, and on the very nature of national government in Washington. And yet the degree to which America has changed is noticed by almost no one — not in any visceral way. The transformation has ten hold too gradually and over too long a period.

Almost no one alive today has a mature, firsthand memory of a country that used to be very different…”

Benito Mussolini was a socialist poet. But when he got into power he, like Barack Obama years later, discovered that it was not a good idea to oppose the military. Instead, he put on a silly uniform himself…and attacked Abyssinia!

Dear Readers may have noticed too. Between Obama’s military policies and those of George W. Bush, there is not a dime’s worth of real difference. Why? Because a zombie military is almost impossible to cut down to size. It has already corrupted the political process. Now, the zombies cannot be stopped…or controlled.

A bankrupt government can cut almost anything else. But not its military. National security industry insiders glide easily into the seats left by politicians who try to stop them. Ex-generals counsel wimpy Congressmen. Flies and flakes buzz around the trillion-dollar ‘defense’ honey pot.

Military spending rose about 70% during the George W. Bush years. Today, the US spends 43 cents of every dollar of military spending anywhere in the world. And now, with the hysteria of “terrorism” and a “nuclear Iran,” who will oppose it?

Many of the nation’s biggest manufacturers are weapons producers — Lockheed Martin, Raytheon, Northup-Grumman, L3 and KBR. The jump in employment numbers were largely the result of government hiring. We have seen a figure over 40% for the portion of domestic manufacturing devoted to the zombie defense industry. Among the most profitable businesses in the country are surely the 2,000 corporations getting money for counter-terrorism, homeland security, military intelligence and other boondoggles.

In Washington itself, 33 new building complexes have been put up since 2001 whose occupants are somehow involved in top-secret activities.

Yes, dear reader, the armed zombies pretend to protect the ‘land of the free.’ But they are its biggest enemies. In 2011, they put through a new defense spending bill…which removed Americans’ ancient habeas corpus rights. The Commander-in-Chief also asserted, and exercised, the right to kill anyone, anywhere…on his own say-so. And both the president and Congress continued to spend money they didn’t have on cockamamie boondoggles even though it is obvious that the nation is going broke.
It is only a matter of time now. The empire will be stabbed in the back by its own protectors.


Trade well and follow the trend, not the so-called “experts.”

Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banksters.






NOTE FROM Kno:

I Love America and Americans. I am 100% for the USA.

This was written by an American. The TRUTH is still the truth. Is the above lies ?

You have the freedom to decide for yourselves...

Good Day and Good Fortune and God Bless America

January 12, 2011
Wait... Wasn't the Greek Issue Solved Already?

Greece is in big trouble.
I realize that 99% of commentators have completely missed this fact. After all throughout 2011 the mainstream financial media published stories claiming that the Greek Crisis was solved.
However, the reality is that Greece remains in Crisis mode. The country has only 37 billion Euros left from its first bailout package. And the second bailout package is anything but guaranteed.
Indeed, as the below story reveals, the two financial backstops for Greece (the IMF and Germany) are in no place to pony up more cash.
Analysis: IMF funds for Greece not assured
IMF chief Christine Lagarde is warning Europe that Greece's economic prospects are deteriorating and the European Union will either have to pony up more money to rescue Athens or debt holders will have to stomach steeper losses.
Unless the private sector or the EU contribute more to Greece's rescue, the International Monetary Fund will view the nation's debt load as unsustainable and may be unwilling to deliver more funds, IMF sources told Reuters as Lagarde met with Germany's and France's leaders in Europe...
But talks aimed at getting private-sector creditors to shoulder a bigger part of a new Greek bailout are going badly, senior European bankers said on Wednesday, raising the prospect that euro-zone governments will have to increase their contribution.
If bondholders refuse to take larger losses and the EU does not agree to provide more aid, it is unlikely the IMF would come in to save the day, a senior diplomatic source said.
Already, concern is rising among IMF member countries about the Fund's growing exposure to Greece, with lending already at 2,400 percent of the nation's IMF quota -- by far the largest on record since 2003.

U.S. Republican lawmakers are already taking aim at Washington's support for the IMF, threatening to snatch back a loan approved for an IMF crisis fund in 2009. With a presidential election looming in November, the Obama administration has made clear it has no plans to provide further resources through the IMF to help Europe.
http://www.reuters.com/article/2012/...80A2AL20120111
Let's consider the IMF first. The IMF has already given Greece 2,400% more funds than its quota allows. Moreover, the IMF is essentially a US-backed organization. And what are the odds that Congress and Obama are going to "OK" hundreds of billions in funds to bailout Europe during an election year?
Next to none.
So the idea that the IMF will somehow save the day here is completely delusional. Indeed, you can even see this in the following paragraph:
Unless the private sector or the EU contribute more to Greece's rescue, the International Monetary Fund will view the nation's debt load as unsustainable and may be unwilling to deliver more funds, IMF sources told Reuters as Lagarde met with Germany's and France's leaders in Europe...
This is nothing more than a cop-out: the IMF knows private bondholders don't want to eat more losses on their Greek debt holdings, so it's using that as the reason why it cannot provide more funds. It's actually pretty brilliant as it portrays the IMF as wanting to help, but blames others for the reason why it can't.
Germany is pulling a similar stunt, promising to pony up more cash only if Greece meets certain conditions (conditions that Germany knows Greece won't agree to).
Merkel warns Greece on second bailout
German Chancellor Angela Merkel has warned Greece it will not be able to receive further aid unless it makes rapid progress on its second rescue package, including reaching agreement with private bondholders over a voluntary write-down on Greek debt, Reuters has reported.
Speaking at a joint news conference in Berlin with French President Nicolas Sarkozy, Merkel told reporters,"The second Greek aid package including this restructuring, must be in place quickly. Otherwise it won't be possible to pay out the next tranche for Greece."
The scheme aims to cut Greece's debt-to-GDP ratio from around 160 percent to 120 percent. However, last week European Central Bank (ECB) policymaker Athanasios Orphanides said the private sector deal should be scrapped, while on Saturday an adviser to Germany's finance minister said a 50 percent "haircut" was insufficient to tackle Greece's huge debt, Reuters reported.
http://www.globalpost.com/dispatch/n...second-bailout
In plain terms, both the IMF and Germany have stated they will help Greece if and only if Greece agrees to various measures... which they KNOW Greece cannot agree to.
And so the Greek issue has become a kind of "hot potato" that no one wants to keep holding. Meanwhile, every day that this issues doesn't get solved, the EU as a whole moves closer to systemic failure.
After all, the very same issues that are plaguing Greece (namely the inability to find additional bailout funds) are going to take down Spain, Italy, and the other PIIGS. And once they do, the EU in its current form will be broken up.
You can already see investors preparing for this as they flock to German bunds pushing yields negative there. On top of this, EU corporations and banks are so worried about the system that they are parking record amounts of cash with the ECB.
So if you've not already taken steps to prepare your portfolio for a Euro collapse, NOW is the time to do so. Because once the real fireworks start, it will be too late.

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