Well this sucks 
I observe your reality but live my own. 
- #27,122
- Apr 18, 2012 9:46am Apr 18, 2012 9:46am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
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- #27,124
- Apr 18, 2012 9:53am Apr 18, 2012 9:53am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Well this sucks
This spike up IMO is a combination of the Euro repat plus the good earnings reports released after NY close yesterday. Not something that will shoot it up too high. At least I hope not coz I have not closed my lower shorts. I fully expect price to come back down. On the bright side, tomorrow is the big Spanish bond auction which I do not expect to have great results.
E/U H4
Those who say it cannot be done should not interrupt those who are doing it
- #27,125
- Apr 18, 2012 9:59am Apr 18, 2012 9:59am
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
Target @ 1.3114 as H1 Support
Always looking the GREAT, never left GOOD Point...
- #27,126
- Apr 18, 2012 10:04am Apr 18, 2012 10:04am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
got more from Target. Well done...
Those who say it cannot be done should not interrupt those who are doing it
- #27,127
- Apr 18, 2012 10:09am Apr 18, 2012 10:09am
- | Joined Nov 2011 | Status: Trader | 2,104 Posts
Yep 1.3150 is the next resistance and also coincides with the yellow falling channel resistance and the H4 100ema.
This spike up IMO is a combination of the Euro repat plus the good earnings reports released after NY close yesterday. Not something that will shoot it up too high. At least I hope not coz I have not closed my lower shorts. I fully expect price to come back down. On the bright side, tomorrow is the big Spanish bond auction which I do not expect to have great results.
E/U H4
Attachment
).
I observe your reality but live my own.
- #27,129
- Apr 18, 2012 10:15am Apr 18, 2012 10:15am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #27,130
- Apr 18, 2012 10:17am Apr 18, 2012 10:17am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Added more to the short as Daily Pivot failed. Still have the lower one as well and maybe it's my time to go and get some UV (in the hopes that your strategy of getting UV brings the Euro down
At best, you've just added to your profit target.
ADD: It's so typical this spike up... followed by a fade after it takes out everyone's stops. I'm so glad I don't use stops very much.
Those who say it cannot be done should not interrupt those who are doing it
- #27,132
- Apr 18, 2012 10:28am Apr 18, 2012 10:28am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Yep 1.3150 is the next resistance and also coincides with the yellow falling channel resistance and the H4 100ema.
This spike up IMO is a combination of the Euro repat plus the good earnings reports released after NY close yesterday. Not something that will shoot it up too high. At least I hope not coz I have not closed my lower shorts. I fully expect price to come back down. On the bright side, tomorrow is the big Spanish bond auction which I do not expect to have great results.
E/U H4
Attachment ...
Well, if I paid $20,000 for a report, I would be inclined to believe it too... not because it is fact, but rather because I just paid $20,000 for it.
Those who say it cannot be done should not interrupt those who are doing it
- #27,133
- Apr 18, 2012 10:38am Apr 18, 2012 10:38am
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
nice.. congratulations
Always looking the GREAT, never left GOOD Point...
...and now I learn that there is some high profile $20,000 exclusive advisory report going around that suggests that Ireland will pull through and that Spain is not as bad as it looks. Apparently it is being regarded as the reason for the last spike up. Institutional Euro bears who read the report covered their shorts and took all the stops of the retail traders with them.
[b]Well, if I paid $20,000 for a report, I would be inclined to believe it too......
OMG $20,000
and I didnt pay $195 to Lombardi Bulls Run. Bears Bite. We Profit.
- #27,135
- Apr 18, 2012 10:48am Apr 18, 2012 10:48am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
OMG $20,000
Those who say it cannot be done should not interrupt those who are doing it
...and if you had in fact paid $195 for Lombardi's report, you would now be allowing it to guide you in your trading for the same reason... because you just paid $195 for it.
Bulls Run. Bears Bite. We Profit.
- #27,137
- Apr 18, 2012 11:20am Apr 18, 2012 11:20am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Well the trading day is pretty much over for now. I suspect we may get a final push up to 1.3150 (falling yellow channel resistance) late in the NY afternoon session.
Tomorrow we get the Spanish 10Y bond auction. Logic would dictate that there will be some positions liquidating before the release of the results. Before that $20,000 exclusive advisory was released, the prospect of a dismal Spanish auction result was already priced in, so now there is more room to the downside if the results are dismal and not much room to the upside if they are good.
Anyway, that's logic, but who ever said the market followed any logic?
If/when we do get that final push up to 1.3150, I will be ready to fade it.
E/U H4
Tomorrow we get the Spanish 10Y bond auction. Logic would dictate that there will be some positions liquidating before the release of the results. Before that $20,000 exclusive advisory was released, the prospect of a dismal Spanish auction result was already priced in, so now there is more room to the downside if the results are dismal and not much room to the upside if they are good.
Anyway, that's logic, but who ever said the market followed any logic?
If/when we do get that final push up to 1.3150, I will be ready to fade it.
E/U H4
Those who say it cannot be done should not interrupt those who are doing it
- #27,138
- Edited 12:14pm Apr 18, 2012 11:50am | Edited 12:14pm
- | Joined Dec 2010 | Status: Wanderer | 360 Posts
...and now I learn that there is some high profile $20,000 exclusive advisory report going around that suggests that Ireland will pull through and that Spain is not as bad as it looks. Apparently it is being regarded as the reason for the last spike up....
I expect Spain's housing bubble to go the same way as that in Ireland, and that their banks will also need huge recapitalization to cover the mortgage defaults yet to come once the true drop in property prices are finally admitted to...until then both the banks and sovereign will downplay the extent of the situation for as long as possible just as in Ireland, and kick that proverbial can again for all it's worth!
Also, a recently posted chart from PT showing GDP figures showed Ireland for example as having positive GDP growth but alas here again this paints a totally misleading picture as to the economic realities on the ground. Due to the peculiarities of the Irish market there exists a massive imbalance between high net-worth exporting firms lured in as Foreign Direct Investment from abroad by our low corporation tax rate (mostly U.S.), and our own domestic industrial base. Because of this Ireland continually shows a huge balance of payments surplus and positive GDP stats, while the lions share of these profits get repatriated abroad and generate little domestic demand subsequently. Hence a much better reflection of the health of the economy is presented by the GNP figures which have been negative yoy since 2008 and indeed have been decreasing at an accelerating pace in more recent quarters.
...so much for expert reports ha?
The spoken word is your master, the unspoken word your slave.
- #27,139
- Apr 18, 2012 12:38pm Apr 18, 2012 12:38pm
- Joined Feb 2009 | Status: Trader | 25,867 Posts
what i didnt say earlier, once 13060 was hit i would check 15 min chart,and as you see it bottomed out at No2 then climbed past the last high point No1 and now its hanging around the area No3. i caught it going up more of a scalp really and now i need to see what happens. It wasnt showing anything on the 1 hour chart. Take care all
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #27,140
- Apr 18, 2012 12:49pm Apr 18, 2012 12:49pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
...so much for expert reports ha?
Those who say it cannot be done should not interrupt those who are doing it