EurAnalysis

I agree with your opinion,so good luck

Hi PipTrapper,

thank you for your voucher.

You're welcome. Now don't forget to post your charts to show why you take your trades

The price pattern I was anticipating has been broken, and I'm tightening my stop to 1.3010.

If that is hit, then I'll be waiting for new highs to short.

Hi Irsa,

Who's opinion are you referring to?
For future reference, the proper what to respond to somebody's post is to use the "Quote" button in the message and not the "Post Reply" button at the bottom of the page. That way everybody know who you are talking to. Alternatively you can address the poster by typing their name in your message.

Anyway, welcome to EurAnalysis. Please take some time to familiarize yourself with the rules and objectives of this thread which you can find on page 1 in the first post.

Looking forward to your future participation

Cheers
PT

We are sitting right at the bottom of the large range we have been trading in since April 13...a key juncture.

Do we pierce the bottom of the range (1.2995) and finally break out?

Or do we head back into the range once again?

Excellent question. It appears so far that Asia wants to take this lower. I hope it just makes up it's mind and starts trending again. This range is making me sick

ADD: A true confirmation of a range break will be a move down to the 78.6% fibo level of this year's range at around 1.2807

I'll second that.

At this point I'm guessing your stop will not get hit tonight. Tomorrow is another day though.

Anyway, It's time for me to get some shuteye. later Christi.

good night! (oh, and "christi" is a shortened version of my last name...my first name is Dan).

ADD: PT, I should also mention that I've changed my trading style since I started reading this thread, and am very happy with the change. Besides this last trade, I'm also holding 3 others (1.3240, 1.3175, and 1.3063). Depending on what happens tonight, this might become a long-running trade, or just a scalp.

In any case, you have my thanks for sharing as you do every day. Getting the right context was just what I needed to improve my results.

slap louis ass

haha!!

With the break of the support now I know that is wave 1 and we need to wait the retracement to short the market. Minimun 50% fib. I have reasons to think that wave 1 is finished, but who knows? So we need to see a pullback to determinate the wave 1 is finished. I think that is there because that is perfect to take 1.2800.

I was made a mistake putting a long entry HA! If i am wrong I will close all if it triggets around 1.304

nvm,you earn enough..so take a loss and give to market needed sometimes,lol

Wednesday, May 9th

09:45 USD FOMC Member Lacker Speaks

10:30 USD Crude Oil Inventories

10:45 USD FOMC Member Pianalto Speaks

13:00 USD 10 Year Bond Auction

19:50 JPY Current Account

21:30 AUD Employment Change; Unemployment Rate

Thursday, May 10th

Tentative CNY Trade Balance

02:45 EUR French Industrial Production

04:00 EUR ECB Monthly Bulletin

04:30 GBP Manufacturing Production

07:00 GBP Asset Purchase Facility; Official Bank Rate

Tentative GBP MPC Rate Statement

08:30 CAD Trade Balance

08:30 USD Trade Balance; Unemployment Claims; Import Prices

09:30 USD Fred Chairman Bernanke Speaks

10:00 GBP NIESR GDP Estimate

10:30 USD Natural gas Storage

14:00 USD Federal Budget Balance

Tentative USD Treasury Currency Report

21:30 CNY CPI; PPI


Friday, May 11th01:30 CNY Fixed Asset Investment; Industrial Production

04:30 GBP PPI Input

08:30 CAD Employment Change; Unemployment Rate

08:30 USD PPI; Core PPI

09:55 USD Prelim University of Michigan Consumer Sentiment

Originally posted at http://joannenova.com.au
The game is up when everyone knows the only way out is printing money, because then everyone knows inflation is coming, and the bun-fight begins. Everyone wants the wage rise, the payment now, and to buy the commodities that they won’t be able to afford tomorrow. Price tags begin that rising spiral. I don’t think we are on the verge just yet, but it can’t be that far when someone like Murdoch is broadcasting it.
Rupert Murdoch tweets:

‏ @rupertmurdoch
Governments worldwide have borrowed 100 trillion last ten years. Defaults inevitable sometime soon. Means crash, hurting rich and poor.
‏ @rupertmurdoch
Of course markets stay high with central banks printing huge sums, inflating everything except jobs.

The only question that matters then, is are they “printing”, and how long have we got?
US Money Base Figures

This is the US money base, starting in 1918.
You can see the moment Lehman Brothers went under. It’s that “bend”.
http://www.mises.ca/wp-content/uploa...ril30-2012.png
That graph again, logarithmically, so we can put the last 90 years in perspective. Remember the oil crisis, the Vietnam War, the 1987 crash, LTCM, and the dot com burst? They don’t rate.

The depression and World War II — they did rate — and you can see below, that this latest “bump” is… err, steeper. (Don’t we all feel good about that eh?) If you are looking at these graphs for the first time and feeling queasy, good news, you might be sane. If you wonder why I’m not leaping up and down, pointing out that the current monetary hiccup is worse than World War II fergoodnesssake, where some 400,000 US citizens died, it’s only because we’ve been watching this trainwreck for three years. (See Helicopter Ben at work, Nov 2008)
http://www.mises.ca/wp-content/uploa.../fredgraph.png
The money base is made up of the deposits of commercial banks in central bank accounts plus actual dollar notes and coins floating around in circulation. Over time the commercial banking system amplifies this “base money” by creating and lending out “bank money”, usual by a factor of 10 -20. Bank money is the stuff in bank accounts at commercial banks, what the public knows as money but that the banks call “credit” (and yes the word “credit” has other meanings too). (Under the old fractional reserve system the ratio of base to bank money was usually a fairly simple 10 to 1, but the under the Basel Accords, which have governed western banking since around 1990, the reserve fractions are not as relevant as the amount of bank capital, the quality of loans, and the amount of deposits. In addition, the practice of “retail sweep” has rendered the reserve requirements mainly toothless since the early 1990s.)
As this extra base money gradually feeds out into the system, it is allowing commercial banks to make more loans (which they do by simply changing the number in a bank account, thereby creating more bank money, and simultaneously writing down a matching liability on their balance sheet e.g. your house deed).
Here is a graph of US M2, a broader aggregate of money supply. It has that exponential look, don’t you think?


http://www.mises.ca/wp-content/uploa...il-30-2012.png


Ludwig von Mises Institute of Canada

Sure!!! Quickly!!!

Looking the news maybe tomorrow is a slow corrective market. A lot of time to think what to do I hope! Wait til Thrusday Europa Session

[quote=knoholygrail;5650086]Originally posted at http://joannenova.com.au
The game is up when everyone knows the only way out is printing money, because then everyone knows inflation is coming, and the bun-fight begins. ...

Great stuff! Any similar charts on what the Eur. Central Banks been doing?

Also, how do you see this playing out on EUR/USD? Both racing to win at losing?