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  • #649,901
  • May 31, 2012 4:25am May 31, 2012 4:25am
Quoting elderfest
what is really pushing eur/usd up since everything should point it downwards
panic buying people thinking its a bit low. all going for buys. people have been shouting longs for weeks on here now and they think they finally have one right
  • #649,902
  • May 31, 2012 4:25am May 31, 2012 4:25am
Quoting Esssex
We probably gonna have a risk on day for London session but I'm taking my risk on sentiment to the USD/CAD and AUD/USD instead.
If you had played the EUR/USD the same way you would be at least +30pips in the green.

I doubt it will last to NY open but who cares? Trade the NOW.
  • #649,903
  • May 31, 2012 4:26am May 31, 2012 4:26am
Quoting at2au
Explain plse RISK ON
Risk on = assets and markets more closely related to higher risk (yet often higher reward) are being bought up by market participants rather than lower risk (yet more stable) assets.

USD and U.S. bonds and the Yen and (until recently) gold, precious metals, etc... are considered risk off assets.

euro, emerging markets, aud, and equities are considered risk off assets
  • #649,904
  • May 31, 2012 4:29am May 31, 2012 4:29am
At this exact moment, all my instincts are yelling that it's a bull trap, though I see the PA. If my SL triggers, my SL triggers. That's it.

Coming back in a half an hour, to see something interesting.
Please, just slap me around if I'm being silly ...
  • #649,905
  • May 31, 2012 4:30am May 31, 2012 4:30am
Quoting Z Capitals
buy for 50 pips target
market is moving steady with a caution
  • #649,906
  • May 31, 2012 4:30am May 31, 2012 4:30am
Quoting elderfest
what is really pushing eur/usd up since everything should point it downwards
What is pushing eur up apart from the fact that very often, the market doesn't do what you think it should do, is that stocks are being bought around the world, which means 'risk on' Investors on such days, pull their money out of US treasuries and put it into stocks. This sends the dollar down, and conversely, the euro up. However, if you look at the way euro is creeping slowly up, there's not a lot of conviction behind it, which means a fast and furious snap down could happen with some bad news.
  • #649,907
  • May 31, 2012 4:30am May 31, 2012 4:30am
Quoting at2au
Explain plse RISK ON
People are putting their money into more riskier assets/currencies such as equities/commodities or any other currency except for USD/CHF/JPY.

And correction to forextraderx, any currency that is not USD/CHF/JPY are all risk currencies.

Risk off = Money flow to USD/CHF/JPY

Risk on = Everything but those holy trinity.
  • #649,908
  • May 31, 2012 4:30am May 31, 2012 4:30am
Quoting daemon_delux
At this exact moment, all my instincts are yelling that it's a bull trap, though I see the PA. If my SL triggers, my SL triggers. That's it.

Coming back in a half an hour, to see something interesting.
were have you your SL set ??
Trade What You See Not What You Want To See
  • #649,909
  • May 31, 2012 4:31am May 31, 2012 4:31am
Quoting at2au
Explain plse RISK ON
Ever heard about google???

It took me a minute

http://www.businessinsider.com/quest...e-mean-exactly

And I am short again from 1,2422 SL just above 1,2430
swing it!
  • #649,910
  • May 31, 2012 4:33am May 31, 2012 4:33am
Quoting pipsallday
were have you your SL set ??
Exactly at 30. Be right back.
Please, just slap me around if I'm being silly ...
  • #649,911
  • May 31, 2012 4:34am May 31, 2012 4:34am
Quoting cat
What is pushing eur up apart from the fact that very often, the market doesn't do what you think it should do, is that stocks are being bought around the world, which means 'risk on' Investors on such days, pull their money out of US treasuries and put it into stocks. This sends the dollar down, and conversely, the euro up. However, if you look at the way euro is creeping slowly up, there's not a lot of conviction behind it, which means a fast and furious snap down could happen with some bad news.
But still...If you trade intraday you shouldn't be bothered with the long term sentiment but the sentiment for the day.

I've just booked my 100 pips from Gold, AUD and CAD.

Gonna wait for shorting opportunities when fundamentals reverse.
  • #649,912
  • May 31, 2012 4:34am May 31, 2012 4:34am
http://s9.postimage.org/lnd8keijj/euro.gif
adult upload image

Gotta run - have to work - I hate it but we all have to eat don't we?
Later
swing it!
  • #649,913
  • May 31, 2012 4:36am May 31, 2012 4:36am
watchig 25 this is were it will make the move north if broken
would like to see 15 min close below 14 im still bearish today
but will trade the now
Trade What You See Not What You Want To See
  • #649,914
  • May 31, 2012 4:36am May 31, 2012 4:36am
Quoting daemon_delux
Exactly at 30. Be right back.
good call
Trade What You See Not What You Want To See
  • #649,915
  • Edited 4:52am May 31, 2012 4:38am | Edited 4:52am
http://s12.postimage.org/ffm4yzvil/H1_chart.png
  • #649,916
  • May 31, 2012 4:41am May 31, 2012 4:41am
Quoting tomspin
http://s9.postimage.org/lnd8keijj/euro.gif
adult upload image

Gotta run - have to work - I hate it but we all have to eat don't we?
Later
dont forget to come back
Trade What You See Not What You Want To See
  • #649,917
  • May 31, 2012 4:44am May 31, 2012 4:44am
Quoting at2au
Explain plse RISK ON
It is very easy. You are playing Money Making Game. For sure, you dont need fundamental analysis. You dont even need to understand to technicals. Just watch the panic. PANIC!!! Once people start to panic, risk is off (meaning apetite for risk instruments is off). You need to run and take cover! But wtf is that safe haven?

T
Attached Image
"I know one thing, that I know nothing." Sokrates
  • #649,918
  • May 31, 2012 4:49am May 31, 2012 4:49am
Quoting Tom_D_Trader
It is very easy. You are playing Money Making Game. For sure, you dont need fundamental analysis. You dont even need to understand to technicals.


T
My word, trading forex really must be a piece of cake then! Why aren't we all millionaires?
  • #649,919
  • May 31, 2012 4:50am May 31, 2012 4:50am
Quoting Tom_D_Trader
It is very easy. You are playing Money Making Game. For sure, you dont need fundamental analysis. You dont even need to understand to technicals. Just watch the panic. PANIC!!! Once people start to panic, risk is off (meaning apetite for risk instruments is off). You need to run and take cover! But wtf is that safe haven?

T
True. Sentiment prevails almost all the time and it's irrational.

It is funny though that as long as majority believe in something, it becomes fact. Hell, you could make the drachma or Greek bonds a safe haven as long as you have enough followers.
  • #649,920
  • May 31, 2012 4:50am May 31, 2012 4:50am
I'm sure this will find a way to press higher (because..why not), but it's looking awfully tired already.

I'd be out of long positions by the NY session.
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