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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #22,921
  • Feb 24, 2012 11:00am Feb 24, 2012 11:00am
Quoting myk
Thanks a lot Piptrader i really appreciate Your kind words
I have searched bro . searched baby pips too but couldn't find anything helpful abt volumes .
Anyway i will search it further thanks again
This may help get you started...
http://mechanicalforex.com/2010/08/u...rex-clear.html

If not, use this Google search...
http://www.google.com/search?hl=en&s...ng+tick+volume
Those who say it cannot be done should not interrupt those who are doing it
  • #22,922
  • Feb 24, 2012 11:00am Feb 24, 2012 11:00am
Still a lot of retail traders hanging in short on Eur.Usd. We need some more shaken out.

Have a good weekend.

Pat
Attached Image
  • #22,923
  • Feb 24, 2012 11:05am Feb 24, 2012 11:05am
Quoting Pat Mustard
Hello Gentlemen and Gentleladies

Did anyone see this Zerohedge article?

http://www.zerohedge.com/news/eur-decouples-other-way

I'm hoping that the LTRO announcement next week, or even the run up to it, squeezes out a few more shorts. I didn't think I would get the opportunity to get in again at these levels. Anything close to 1.36 would be a great price.

Pat
Whatever cuts your mustard
I've been waiting and praying for this major correction since November and I cannot tell you how elated I am that it is finally here. I'm not sure about 1.36
I'm going to start entering before 1.3550 and then we'll see what happens from there.
Those who say it cannot be done should not interrupt those who are doing it
  • #22,924
  • Feb 24, 2012 11:06am Feb 24, 2012 11:06am
Quoting PipTrapper
This may help get you started...
http://mechanicalforex.com/2010/08/u...rex-clear.html

If not, use this Google search...
http://www.google.com/search?hl=en&s...ng+tick+volume
Thanks Agian
MMMYYYKKK
  • #22,925
  • Feb 24, 2012 11:07am Feb 24, 2012 11:07am
Quoting Pat Mustard
Hello Gentlemen and Gentleladies

Did anyone see this Zerohedge article?

http://www.zerohedge.com/news/eur-decouples-other-way

I'm hoping that the LTRO announcement next week, or even the run up to it, squeezes out a few more shorts. I didn't think I would get the opportunity to get in again at these levels. Anything close to 1.36 would be a great price.

Pat
Welcome Aboard

I have a request for you based on the ZeroHedge Article. The last and first LTRO was during December 2011. I think the equities markets went up with the extra liquidity and some fear on Greece being removed. Now things have changed. While fear on Greece has been reduced the REALITY of a Default has not. RISK ON !!!

USD/JPY is now above 80.00 approaching 81.00 thus GIVING strength to EUR/JPY with RISK OFF as to PERCEPTION not REALITY on Greece.

Run a chart on EUR/USD from December to now and put the chart of EUR/JPY next to it. The picture should be very revealing.

I would do it however I am a fundamental trader and I have not developed the skills to produce charts.

We welcome your contribution here. Have a good weekend and the BEST PICTURE will Be ??? Watch Sunday to find out. I will be having Hot Dogs and Buns filled with Mustard, Relish however no onions in case someone might want to kiss me.

WOW !!! Dow is above 13,000 and Gold is at $1,775.00 US Spot with the Yields on the 2 Year Bonds at .30% and the 10 Year US Bonds at 1.98% with the spread being 168 Basis Points.

Keep The Dow Above 13,000 Benny as the Ladies and Gentleman in Mexico this weekend for the G-20 Will Love You...
  • #22,926
  • Feb 24, 2012 11:10am Feb 24, 2012 11:10am
Quoting spardaa12
okay guys after being margin called, i have to revamp my entire system and make a crazy amount back so i will NOT give this thing up (not aleast until i get my money back anyways). Gonna go super technical on this stuff, anyways i realise a short earlier was stupid so i need to work on entry, and i had no SL which was dumb and then i didnt cut the trade cus i 'wanted' a reversal.

So now i have looked at the weekly descending channel, the 61.8% retrace and a psychological number all lie around around 1.3480-1.3580, and the psych would be at around...
Sorry for your loss Spardaa. It happens to the best of us. I remember years ago when that happened to me. Luckily I wasn't playing with all my risk capital
Anyway, check out my previous weekly chart to get a gist of what I will be watching early next week. I will start entering short on approach of 1.3550... Maybe lower if PA tells me it is exhausted. I don't want to get in too early but I don't want to miss the bear train either. I guess the best thing is to keep an ear to the news. The LTRO takeup report next week is going to be the zinger.
Cheers and best of luck with your next account
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #22,927
  • Feb 24, 2012 11:21am Feb 24, 2012 11:21am
here
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 40 KB
If there was easy money lying around,no one would be forcing it into your
  • #22,928
  • Feb 24, 2012 11:24am Feb 24, 2012 11:24am
With So Many Nagging Issues, Why is the Euro Still Strong?
By Joel Kruger, Technical Strategist

Excerpt...

EUR/USD: The latest break and daily close above 1.3325 ends a recent bout of multi-session consolidation and now opens the door for the next upside extension towards the 1.3600-1.3700 area over the coming days. While our broader outlook remains aggressively bearish with a downside target by 1.2000 in 2012, the 2012 correction within the broader downtrend off of the 2008 record highs is still in play, and shows potential for additional gains. Still, we prefer to remain sidelined as our bearish bias has us looking for opportunities to sell rather than attempting to buy into a corrective rally within a broader downtrend. We would also not rule out the possibility for a topside failure well ahead of 1.3600-1.3700, but given the latest break, the risk for additional gains seems like a very real possibility that needs to be considered and anticipated. Back under 1.3230 will be required at a minimum to alleviate immediate topside pressures.

http://media.dailyfx.com/illustratio...body_eur_1.png
Those who say it cannot be done should not interrupt those who are doing it
  • #22,929
  • Feb 24, 2012 11:32am Feb 24, 2012 11:32am
Thanks piptrapper, looks like a good chart, so what do you think about the price of the euro, your tp going to be to the bottom of earth at 1.26xx or u gonna look for a technical TP?
  • #22,930
  • Feb 24, 2012 11:49am Feb 24, 2012 11:49am
I've been sitting on my hands all week, too afraid to buy. Now it's Friday, I'm antsy and I want in, even if it is only for a few bucks.

I've noticed that often times on Friday when the market winds down after a week of significant movement, people tend to cover their positions as to avoid the weekend gap.

Is it crazy to assume that people will be covering longs within the last couple hours of business today? Would a short position with a tight s/l and a a target of 20-30 pips be prudent? Just an idea from a true rookie.
  • #22,931
  • Feb 24, 2012 12:02pm Feb 24, 2012 12:02pm
Quoting GrizzNasty
I've been sitting on my hands all week, too afraid to buy. Now it's Friday, I'm antsy and I want in, even if it is only for a few bucks.

I've noticed that often times on Friday when the market winds down after a week of significant movement, people tend to cover their positions as to avoid the weekend gap.

Is it crazy to assume that people will be covering longs within the last couple hours of business today? Would a short position with a tight s/l and a a target of 20-30 pips be prudent? Just an idea from a true rookie.
Now use proper Risk Management. Keep in mind there is Rollover each Wednesday at 5:00 PM EST which covers Wednesday, Thursday and Friday so next Rollover would be Sunday at 5:00 PM EST.

If you go short enter your limit out and your stop. Decide when is the best time to go short today. Watch the Dow from 2:00 PM to 4:00 PM EST.

Make Your Own Decision if you PUT on a Trade.

Good Trading...
  • #22,932
  • Feb 24, 2012 12:06pm Feb 24, 2012 12:06pm
http://wallstreetexaminer.com/2012/0...s-49-day-bill/

Snippet:

Treasury 49-Day Bill Evidence of Growing Tax Shortfall

February 24, 2012
By Lee Adler


I missed this yesterday. The Treasury announced another surprise cash management bill (CMB), the second in 3 weeks. Like the first one, this one is for $20 billion. Tax receipts are not keeping up with the Treasury Borrowing Advisory Committee (TBAC) forecast just issued on February 2. The shortfall is now $43 billion over last 3 weeks.

If my math is correct, a total of $87 billion in net new Treasury debt will be settling next Wednesday and Thursday. Won’t that be interesting. Of course, the 29th is also the day of the next ECB Long Term Refinancing Operation. Next week could be “interesting times.” Stay tuned.

Stay up to date with the machinations of the Fed, Treasury, Primary Dealers and foreign central banks in the US market, along with regular updates of the US housing market, in the Fed Report in the Professional Edition, Money Liquidity, and Real Estate Package. Try it risk free for 30 days. Don’t miss another day. Get the research and analysis you need to understand these critical forces. Be prepared. Stay ahead of the herd.
Here are the details of the newest issue.

CUSIP: 9127955J6
Term and Type: 49-Day Bill
Offering Amount: $20,000,000,000
Auction Date: 02/28/2012
Issue Date: 03/01/2012
Maturity Date: 04/19/2012
PDF version of the announcement
XML version of the announcement
  • #22,933
  • Feb 24, 2012 12:11pm Feb 24, 2012 12:11pm
Quoting spardaa12
Thanks piptrapper, looks like a good chart, so what do you think about the price of the euro, your tp going to be to the bottom of earth at 1.26xx or u gonna look for a technical TP?
My entry at first will be small with a tight stop. If all works out I will start selling on rallies all the way down to Eurohell, taking partial profit along the way and letting the rest ride. By the end of it, I should have quite a few floating positions in lots of profit. The swap/commission rate on Euro shorts is quite cheap so I don't mind holding long term positions.
Those who say it cannot be done should not interrupt those who are doing it
  • #22,934
  • Feb 24, 2012 12:14pm Feb 24, 2012 12:14pm
Quoting GrizzNasty
I've been sitting on my hands all week, too afraid to buy. Now it's Friday, I'm antsy and I want in, even if it is only for a few bucks.

I've noticed that often times on Friday when the market winds down after a week of significant movement, people tend to cover their positions as to avoid the weekend gap.

Is it crazy to assume that people will be covering longs within the last couple hours of business today? Would a short position with a tight s/l and a a target of 20-30 pips be prudent? Just an idea from a true rookie.
Patience is the word Grizz. Wait till Monday and see what happens then. Don't get burned on a weekend gap for a few bucks.. not worth it. This sucker is not just going to tumble so you'll have lots of time to get it when it starts heading south. Next week is LTRO takeup report. Should be interesting. I would wait till then as a small takeup would be Euro positive.
Those who say it cannot be done should not interrupt those who are doing it
  • #22,935
  • Feb 24, 2012 12:30pm Feb 24, 2012 12:30pm
Take profit hit on the last remaining long on ej for 500 pip could be more but set my take profit there 108.55 and went to my bro place for the weekend....
SL hit on eu -40 pip which was again pending order which triggered but thanks to ALLAH this week went excellent
Now PT and family of EurAnalysis combine we have to F**k this sucker opps (did I broke any rule of EurAnalysis , I dont think so)
Bulls Run. Bears Bite. We Profit.
  • #22,936
  • Feb 24, 2012 12:37pm Feb 24, 2012 12:37pm
At least not the rule for taking profit. PT there is such a rule isn't it?

Harpe Eagle good trading.

Quoting Harpe Eagle
Take profit hit on the last remaining long on ej for 500 pip could be more but set my take profit there 108.55 and went to my bro place for the weekend....
SL hit on eu -40 pip which was again pending order which triggered but thanks to ALLAH this week went excellent
Now PT and family of EurAnalysis combine we have to F**k this sucker opps (did I broke any rule of EurAnalysis , I dont think so)
  • #22,937
  • Feb 24, 2012 12:38pm Feb 24, 2012 12:38pm
Quoting Harpe Eagle
Take profit hit on the last remaining long on ej for 500 pip could be more but set my take profit there 108.55 and went to my bro place for the weekend....
SL hit on eu -40 pip which was again pending order which triggered but thanks to ALLAH this week went excellent
Now PT and family of EurAnalysis combine we have to F**k this sucker opps (did I broke any rule of EurAnalysis , I dont think so)
Just Teasing. I Believe in Free Will and in the end The Devil Did Not Make Us Do It. It was only us. I Love Free Will. I Will Enjoy My Weekend.

Take Care all...
  • #22,938
  • Feb 24, 2012 12:42pm Feb 24, 2012 12:42pm
Morgan Stanley or whoever it was that said they shorted around 1.33xx with a stop at 1.3460 was obviously lying. How is that legal for them to do that? If they really had done that, the price would have already approached the 1.3550 level already because of the stops. We've seen this from firms before, they say the did something and set a stop somewhere when in fact they actually are probably taking their position at what they claimed the stop was so Morgan Stanley or whomever it was probably actually really started shorting at 1.3460. Incredible I tell you what people get away with or should I say corporations smh.
  • #22,939
  • Feb 24, 2012 12:50pm Feb 24, 2012 12:50pm
Quoting TheSwede
At least not the rule for taking profit. PT there is such a rule isn't it?

Harpe Eagle good trading.
Thanks Swede :
That was totally luck.
Bulls Run. Bears Bite. We Profit.
  • #22,940
  • Feb 24, 2012 12:52pm Feb 24, 2012 12:52pm
Quoting knoholygrail
Just Teasing. I Believe in Free Will and in the end The Devil Did Not Make Us Do It. It was only us. I Love Free Will. I Will Enjoy My Weekend.

Take Care all...

Sir take care...And happy weekend to all
Bulls Run. Bears Bite. We Profit.
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