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  • #651,301
  • Jun 4, 2012 11:23am Jun 4, 2012 11:23am
i was saying days ago that we were at a support level on the daily charts.

what bullshit!

everyone on here is looking to pick a bottom or top all with their own style, tf pa etc.

some of the advice is good, some is horrible and misguided.

just try to take it in relax and learn what you can.

all this downing people for picking a top or bottom is crap.

nothing required but a good stop loss within your individual risk management of move on with it.

win some lose some. the trick is you gots to win more than lose, thats all!

phreakin drama
  • #651,302
  • Jun 4, 2012 11:26am Jun 4, 2012 11:26am
Quoting weathercheck
In the long run this may rise but it is going to hit 12450 before it heads on another leg up.

40 pips to be got here.

patience
I almost completely agree with this here. and given very significant technical confluence, and the over all daily trend, the extremely low likelyhood of a QE3 being announced before thursday IF at all, the continued probelmatic news out of europe and signs of slowing in china increasing, and the general state of world financial affiars....

man. I think a short to 2450-60 at this time is probably the easiest setup i've seen in a few weeks.

Truth is, we could be seeing a high before retesting the lows of the day, if not the year so far... but of that i'm less sure.

however, moving to 2450-60? yea... I think it's a very high probability move.

X
  • #651,303
  • Jun 4, 2012 11:29am Jun 4, 2012 11:29am
USD makes a good short in here.

Im watching the daily against the monthly on the USD/CAD and we are very near the most recent monthly high
  • #651,304
  • Jun 4, 2012 11:30am Jun 4, 2012 11:30am
EURO topped +75 pips net change and now is holding bellow 1.2500 psychological level. During late session they could give back all this levels...
  • #651,305
  • Jun 4, 2012 11:35am Jun 4, 2012 11:35am
Quoting todstars2
i was saying days ago that we were at a support level on the daily charts.

what bullshit!

everyone on here is looking to pick a bottom or top all with their own style, tf pa etc.

some of the advice is good, some is horrible and misguided.

just try to take it in relax and learn what you can.

all this downing people for picking a top or bottom is crap.

nothing required but a good stop loss within your individual risk management of move on with it.

win some lose some. the trick is you gots to win more than lose, thats all!

phreakin...
I have won 98% of my trades this month, added 150 percent to my trading account and I've had a god few days of. Oh and I've made like 700 trades this month. Everyone is trying to pick bottoms. I've heard so many long term trades from so many different levels. With so many targets so far of. Now I'm not saying I hate taking people's money but they don't have to make it so easy. The trick is to win them all not just some. If you can't go into a trade with 90% certainty your going to make profit all you doing is gambling. Maybe not everyone I didn't say everyone. But to many are. And they aren't justifying it. Just it's going up because it's a bull week....
  • #651,306
  • Jun 4, 2012 11:39am Jun 4, 2012 11:39am
Quoting tightscalper
I have won 98% of my trades this month, added 150 percent to my trading account and I've had a god few days of. Oh and I've made like 700 trades this month. Everyone is trying to pick bottoms. I've heard so many long term trades from so many different levels. With so many targets so far of. Now I'm not saying I hate taking people's money but they don't have to make it so easy. The trick is to win them all not just some. If you can't go into a trade with 90% certainty your going to make profit all you doing is gambling. Maybe not everyone I didn't...
How many people do you think have 90% win rates? You can easily make money with win rates that are far less if you have good position sizing and money management.

Only reason I say this is because I don't want newbies expecting a 90% win rate. If you can get it, great but don't quit because you don't have it.
  • #651,307
  • Jun 4, 2012 11:44am Jun 4, 2012 11:44am
Quoting attila
The move up was driven on hopes of tomorrow G7 finance ministers and central bankers conference call... Just wait for reality to settle in...
What they would need to do in order to actually quell fears would be to demonstrate they have some sort of short term, mid term, and long term plan that various heads of state and the people who they represent agree would be beneficial and provide stronger solidarity, opportunities for real growth, and some stability from further decline.

It reminds me something of when the united states government started to crumble under the articles of confederation in the last 1780's...

without a much stronger central governmental body to have ever increasing financial control of the EU... nothing is going to be ABLE to be worked out before there is a greater unraveling of the EU ideal....

and even then... the 2nd great modern "credit purge" cycle will still have to run it's course.

As I see it, nothing short of an act of divine intervention would be able to get the EU to draft such legislation, agree on it, choose how each member will be represented, and then act.

And...I'm yet to ever see angels and politicians hanging out together.

It's just not going to happen in time before there is a further significant disintegration of the financial situation in the EU.

They may find a temporary short term fix... MAYBE. and that might stoke market optimism for a few days, maybe a week or 2... (and i can hardly even type these words as I see that so very unlikely)...

but a real fix? I think it's more likely the EU is taken over by aliens than the EU finds a "real solution" that can prevent a depression/recession that affects every member of the EU

X

P.S. and ya... it definately ain't gonna happen before we hit 2450-60
  • #651,308
  • Jun 4, 2012 11:47am Jun 4, 2012 11:47am
Quoting tightscalper
I have won 98% of my trades this month, added 150 percent to my trading account and I've had a god few days of. Oh and I've made like 700 trades this month. Everyone is trying to pick bottoms. I've heard so many long term trades from so many different levels. With so many targets so far of. Now I'm not saying I hate taking people's money but they don't have to make it so easy. The trick is to win them all not just some. If you can't go into a trade with 90% certainty your going to make profit all you doing is gambling. Maybe not everyone I didn't...
Pride comes before destruction...
  • #651,309
  • Jun 4, 2012 11:55am Jun 4, 2012 11:55am
I agree with you.. What we see on the charts right now is just hope. And we all know how that worked out.. No, there's nothing they can do about it short of a United States of Europe. That is not going to happen, and we're already passed the point of no return.. The'll try to prop it here and there... We all know the end result..

Germany is holding it's ground. France and everybody else is pushing forward and trying to isolate Merkel.. Cyprus is soon to ask for a bail out, and yet the market clings on a conference call, that I hear now is just part of the normal communication between these jokers.. Like I said, let reality settle in..


Quoting forextraderx
What they would need to do in order to actually quell fears would be to demonstrate they have some sort of short term, mid term, and long term plan that various heads of state and the people who they represent agree would be beneficial and provide stronger solidarity, opportunities for real growth, and some stability from further decline.

It reminds me something of when the united states government started to crumble under the articles of confederation in the last 1780's...

without a much stronger central governmental body to have ever increasing...
  • #651,310
  • Jun 4, 2012 11:56am Jun 4, 2012 11:56am
I've got plan to get back what I lost today

http://s17.postimage.org/ip50q9onz/euro.gif
upload pictures
swing it!
  • #651,311
  • Jun 4, 2012 11:59am Jun 4, 2012 11:59am
There does seem to be a bit of momentum behind this bull.

So i wouldn't ride this short southwards for too long.

Still another few hours.
  • #651,312
  • Jun 4, 2012 11:59am Jun 4, 2012 11:59am
now they want to prop the banks directly from the ESM.. They-are-desperate.
Quoting forextraderx
What they would need to do in order to actually quell fears would be to demonstrate they have some sort of short term, mid term, and long term plan that various heads of state and the people who they represent agree would be beneficial and provide stronger solidarity, opportunities for real growth, and some stability from further decline.

It reminds me something of when the united states government started to crumble under the articles of confederation in the last 1780's...

without a much stronger central governmental body to have ever increasing...
  • #651,313
  • Jun 4, 2012 12:00pm Jun 4, 2012 12:00pm
Quoting attila
I agree with you.. What we see on the charts right now is just hope. And we all know how that worked out.. No, there's nothing they can do about it short of a United States of Europe. That is not going to happen, and we're already passed the point of no return.. The'll try to prop it here and there... We all know the end result..

Germany is holding it's ground. France and everybody else is pushing forward and trying to isolate Merkel.. Cyprus is soon to ask for a bail out, and yet the market clings on a conference call, that I hear now is just...
yea... I think it's a bit of profit taking in a vulnerable market that is incredibly short.... and today just happens to be a low liquidity day with the holiday in europe, so any "stimulus of hope" is going to be disproportionally represented in a move upwards...

it doesn't mean anyone is seriously buying these levels. Even if larger players WERE going to cover more shorts...they would NOT do it at this price... no way. no higher than 2460ish.


X
  • #651,314
  • Jun 4, 2012 12:09pm Jun 4, 2012 12:09pm
Listening to what these people want to do, I think the people of Europe are close to reaching for the pitch forks..
  • #651,315
  • Jun 4, 2012 12:13pm Jun 4, 2012 12:13pm
Quoting attila
Listening to what these people want to do, I think the people of Europe are close to reaching for the pitch forks..
  • #651,316
  • Jun 4, 2012 12:13pm Jun 4, 2012 12:13pm
  •  alsi
  • | Joined Mar 2012 | Status: The chart is the footprint of money | 40 Posts
Not much of a selling pressure and I could see the area between 66-70 as a buy area
  • #651,317
  • Jun 4, 2012 12:14pm Jun 4, 2012 12:14pm
Quoting 5percent
here's what i see.
my earlier analysis . look liked it got hit .

price still can move upward tomorrow.
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd analysis.png Size: 79 KB
  • #651,318
  • Jun 4, 2012 12:15pm Jun 4, 2012 12:15pm
Quoting attila
Listening to what these people want to do, I think the people of Europe are close to reaching for the pitch forks..
Yes we do and unfortunately this is how it will end. I am with Faber and Rogers - if they would let Greece go, maybe we wouldn't have Spexit on the table(no that's just silly). If business is not able to make it) it goes banktrupt so instead doing something like Sweden did it will end up terrible here and there.
swing it!
  • #651,319
  • Jun 4, 2012 12:23pm Jun 4, 2012 12:23pm
Quoting attila
Listening to what these people want to do, I think the people of Europe are close to reaching for the pitch forks..
Greece already has an organized gang.... "golden dawn"

if greece had a more "driven" culture, and was not so laid back... It would almost mirror the weimar republic conditions and the cultural mentality of the population that allowed for the rise of the third reich.

As per usual, economic strife breeds a host of problems, including some very poignant humanitarian ones.

I wouldn't be surprised if we are not currently sowing the seeds to produce another great war... and i see no obvious patterns developing, but... nevertheless, it's something I wonder about from time to time...

X
  • #651,320
  • Jun 4, 2012 12:25pm Jun 4, 2012 12:25pm
I may be wrong, but I think I remember something about a barrier being around the 2500 level last friday... if so, this would explain a push above to the defensive stops and the obvious rejection afterward would, IMO, be a pretty clear demonstration of larger players intentions...

but, that's if there was a barrier at 2500. not that we need ANOTHER reason for price to drop to 2460 minimum....

X
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