EurAnalysis

Sweet 16... Finally some excellent action.

I am short at 1.3116 and I added to that at 1.3016

First target is 1.2940/50

If we manage to pierce 1.2940, I'm holding on to these positions and adding more on a pullback.

Added another short at 1.29997

Hey PT,

Hope you are doing great !!!!

Things are going fine for me too and i see myself improving. Had a small issue which i wanted to discuss. I have started to catch up with the trend but the problem i face is to carry the trade longer.

Literally, i wanted to short EUR @ 3172 yesterday. But some devil seems to have gone into my mind and i started to look @ other USD pairs and short NZD since it had comparatively smaller stop loss. Planned for 100 pips as first target and short @ 8381 and i left out after executing the trade. Then things changed as usual. The moment i saw the market again with +50 pips, i closed it. Then what i saw after some hours is, i would have gained 135 pips. Please suggest something so that i can do better in taking more pips.

Reason for short @NZD:
1. Saw a small rising wedge in 4H (ofcourse it was forming then, but my intution said it will head south)

2. Looked like 8385 and 8440 a nice supply zone in the past.

3. Daily RSI was in overbought zone and daily consolidation after a long bull trend.

4. Price action looked like bulls were running out of fuel.

Now waiting to short EUR.

when daily pointed down just follow it,Viva Daily Chart

That's an easy one. When you feel it is time to get out, close half of position and lock the rest in at Break Even. Worse case you've made 50% at 50 pips, Best case you've made 100% at 50 pips and 50% on the rest.

My hero

Yup !!!!

My Sweetie

http://www.ekathimerini.com/4dcgi/_w...02/2012_428182

Snippet:


Greece seeks Monday bailout deal, EU questions remain





http://sup.kathimerini.gr/kath/engs/...uflags_390.jpg http://wwk.kathimerini.gr/kathnews/images/dot_clear.gif
By Dina Kyriakidou and Lefteris Papadimas
Greece expressed hope it can secure its second EU/IMF bailout in as many years and a deal on easing its debt burden next week, but its eurozone peers made clear the months of increasingly ill-tempered argument are not quite over yet.
Finance Minister Evangelos Venizelos said the Greek side had met the final two demands set by the European Union and IMF to seal the 130 billion-euro rescue, which Athens needs to avoid a chaotic default when big debt repayments fall due in March.

But a government official in Germany, which has got involved in testy exchanges with Athens over its will to tackle its problems, said the Greek side still had questions to answer.

Greece pinned its hopes on a meeting of eurozone finance ministers on Monday, after talks in Athens and at the euro zone level failed to produce a deal to avert a Greek bankruptcy which could shake financial markets around the globe.

Open matters
After the three-hour conference call among the 17 eurozone ministers, Juncker issued a statement saying progress had been made, but provided few details. However, he made clear some matters remained open on making sure the bailout plan is carried out in full.

"Further considerations are necessary regarding the specific mechanisms to strengthen the surveillance of programme implementation and to ensure that priority is given to debt servicing," he said.

One government official in Germany, where public opinion is hostile to bailing out Greece, was cautious.

"Questions remain that are very important to Germany and other member states about the sustainability of the programme," said the official, who declined to be named.
German Finance Minister Wolfgang Schaeuble appeared to question whether Greece would stand by the austerity package after the elections.

"When you look at the internal political discussions in Greece and the opinion polls, then you have to ask who will really guarantee after the elections ... that Greece will stand by what we are now agreeing with Greece," he told SWR2 radio.

Greek President Karolos Papoulias, who holds a largely ceremonial role, fought back, saying: "Who is Mr Schaeuble to insult Greece?"
[Reuters]
ekathimerini.com , Thursday February 16, 2012 (11:00)

These days NY more exciting than London,Lets see what NY Brings

I say, but what about New York my dear Sir?

http://www.damnlol.com/pics/95/33ff6...2c7f760f97.gif

http://www.actionforex.com/action-in...0120216159589/

Kno's Comments:

I would suggest extreme caution at this point. There is much more to the story than Greece. The CDS issue will affect all the banks around the world. The following from Action Forex talks about the downgrades.

Snippet:

Daily Report: Sentiments Weigh Down by Greece, Moody's, Dollar Firmer

Markets sentiments are weighed down by the delay in Greek bailout approval and moody's warning on downgrade of some global banks. Asian equities are broadly lower following -97 pts fall in DOW. EUR/USD remains soft and is back pressing 1.3 psychological level. Commodity currencies are also generally lower following mild risk aversion. We'd like to point out again that DOW continues to face strong resistance between 12800 and 13000 and is very vulnerable to reversal. And when that happens, most major currencies could weaken sharply against the dollar. The development in the next few days remains critical.

Kno's Comments:

As Jim Sinclair had pointed out at WWW.JSMINESET.COM the 5 largest banks in the USA will have a direct influence if they declare a default. If they do it could topple the banks. The question then is how do they declare it is orderly and say there is NO DEFAULT ???

Snippet:

Moody's placed over 100 financial institutions in 16 European countries on review for possible downgrade. Those institutions include familiar names like Barclays, BNP Paribas, Commerzbank, Credit Agricole, Deutsche Bank, HSBC, ING Group, Royal Bank of Scotland, Santander, Societe Generale and Unicredit. Moody's noted that government's support towards the banking systems and accommodative policies are "overshadowed by the prolonged adverse impact of Eurozone debt crisis.

The FOMC minutes for the January meeting released overnight were as dovish as the policy statement suggested. Yet, the change in wordings suggested that there were fewer members demanding further easing.

Policymakers noted that 'strains in global financial markets continued to pose significant downside risks to the economic outlook' and 'a few members' observed that elevated unemployment and subdued inflation pressure could 'warrant the initiation of additional securities purchases before long'. In December, it's stated that 'a number of members' judged additional purchases are warranted. In our opinion, QE3 remains possible for 2H12 despite recent improvements in economic indicators. More in FOMC Minutes Unveiled A Few Members Opted For More Asset Purchases.

Kno's Comments: The slightest positive could give a big bounce to Risk On however the data over the next two days and the fact that there will be Risk Off before the weekend suggests that you should make NO ASSUMPTIONS on the direction of EUR/USD.

Snippet:

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.3010; (P) 1.3100 (R1) 1.3157; More...
EUR/USD drops further to as low as 1.3007 so far today as fall from 1.3321 accelerates. The break of 1.3028 support indicates that rebound from 1.2625 has completed at 1.3321 already and the fall from 1.4939 is likely resuming. Intraday bias remains on the downside for 1.2625 and below. On the upside, above 1.3190 minor resistance will dampen this immediate bearish view and turn bias back to the upside for 1.3321 resistance instead.
In the bigger picture, price actions from 1.6039 are unfolding as a consolidation pattern in the long term and is in progress. Fall from 1.4939 is a falling leg inside the pattern. It's hard to anticipate the length of a leg of any complex corrective pattern. Also, price actions would likely remain choppy and indecisive with misleading momentum indicator readings. But after all, overall picture still favors deeper fall to 1.1875 support before the consolidation pattern completes. Though, sustained trading above 55 weeks EMA (now at 1.3605) will pave the way for a test on 1.4939 resistance level.

http://www.actionforex.com/images/st...20120216a1.gif

LOLZ.....DAMN ME...am Drunk....wahahahaa...hate you bro

Don't hate me bro, just trying to help

He says with a devilish laugh. Muhahahaha

Yeah I know, did not take it seriously

I know you are naughty...always tease me...I mean....Kidding

Sun is shining, much snow and temperature -3, it would be a sin to not go outside. Will take a walk to a forest, back soon.