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EurAnalysis Kindergarten 24 replies

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  • #34,481
  • Jun 5, 2012 8:08am Jun 5, 2012 8:08am
Crazy PA on Yen crosses.
  • #34,482
  • Jun 5, 2012 8:10am Jun 5, 2012 8:10am
Quoting FXSwissTrader
Crazy PA on Yen crosses.
G7 agreed to cooperating in controlling extreme FX moves. This means that if you believe the first 3 trading days of June have been choppy, you haven't seen anything yet.
Those who say it cannot be done should not interrupt those who are doing it
  • #34,483
  • Jun 5, 2012 8:14am Jun 5, 2012 8:14am
Nearly half of Germans want Greece to leave euro - poll

Tue, Jun 05 2012, 14:59 CET | Reuters


BERLIN, June 5 (Reuters) - Nearly half of Germans want Greece to leave the euro zone and a third is very afraid that the country's debt crisis could threaten the euro, a poll in Stern magazine showed on Tuesday,


According to a survey of 1,001 Germans conducted by Forsa research institute, 49 percent of those polled want Greece to quit the single currency while 39 percent want it to stay.
Nearly two thirds want German Chancellor Angela Merkel to keep insisting that Greece stick to agreed austerity measures despite growing criticism of this course in other euro zone countries such as France, the poll said.
The Greek election on June 17, the second in two months, is widely seen as a referendum on whether the debt-laden country should stay in the euro zone and press on with painful reforms or leave and go back to its old drachma currency.
Polls suggest the vote could go either way, with support for pro- and anti-austerity parties finely balanced.
In Tuesday's survey, nearly two thirds of Germans expressed a lack of understanding for those Greeks who want to vote for opponents of austerity measures.
A third said they would have second thoughts about spending their holidays in Greece at the moment.
Greece's income from tourism dropped 15 percent in the first quarter, with fewer holidaymakers from Germany and Britain, Greece's biggest tourist markets. ID:nL5E8GP5DB
(Reporting By Sarah Marsh, editing by Gareth Jones)
  • #34,484
  • Jun 5, 2012 8:17am Jun 5, 2012 8:17am
Quoting PipTrapper
G7 agreed to cooperating in controlling extreme FX moves. This means that if you believe the first 3 trading days of June have been choppy, you haven't seen anything yet.
Perhaps I jumped the gun a bit. The info only came from Azumi. He could be fibbing.

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Those who say it cannot be done should not interrupt those who are doing it
  • #34,485
  • Jun 5, 2012 8:27am Jun 5, 2012 8:27am
GM fellows traders. Agree with target 1.2385/90 before a bounce
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #34,486
  • Jun 5, 2012 9:03am Jun 5, 2012 9:03am
limit short order at 1.2474 only risk is spanish spread seem to be tightening
Allah has permitted trade and has forbidden interest [koran]
  • #34,487
  • Jun 5, 2012 9:04am Jun 5, 2012 9:04am
Quoting Luis Carlos
GM fellows traders. Agree with target 1.2385/90 before a bounce
For me this correction is near to finish
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #34,488
  • Jun 5, 2012 9:21am Jun 5, 2012 9:21am
Quoting Luis Carlos
For me this correction is near to finish
For me confirmed, but if you want to be sure you must wait to break 1.241. I am short @1.246
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #34,489
  • Jun 5, 2012 9:22am Jun 5, 2012 9:22am
down 108 pips, up 43 pips.

151 collected just playing divergence on 15 min chart. i'm done for the day.

for luis,

for the second time, markets don't care what waves we're at. you already know how EW works. you might wanna spend your time studying something else. your EW knowledge will come in handy only with other stuff you need to know. when the time comes, you will notice how little EW takes part in the market for you to be profitable. whether you take my advise or not is entirely up to you.
  • #34,490
  • Jun 5, 2012 9:40am Jun 5, 2012 9:40am
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Those who say it cannot be done should not interrupt those who are doing it
  • #34,491
  • Jun 5, 2012 9:44am Jun 5, 2012 9:44am
Quoting pkimnyc
down 108 pips, up 43 pips.

151 collected just playing divergence on 15 min chart. i'm done for the day.

for luis,

for the second time, markets don't care what waves we're at. you already know how EW works. you might wanna spend your time studying something else. your EW knowledge will come in handy only with other stuff you need to know. when the time comes, you will notice how little EW takes part in the market for you to be profitable. whether you take my advise or not is entirely up to you.
Well done!
I observe your reality but live my own.
  • #34,492
  • Edited 10:17am Jun 5, 2012 9:51am | Edited 10:17am
Quoting Luis Carlos
For me confirmed, but if you want to be sure you must wait to break 1.241. I am short @1.246
Luis, we moved above the long term downtrend (green line on chart) and returned below it. I think we are going to re-test the downtend before continuing downwards (if it fails to move above it). This will give us a retrace to the 50% level from today's Hi/Lo. 61% has held nicely on the 15M chart but is moving up now.

Just my 2 cents from a technical point of view.
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I observe your reality but live my own.
  • #34,493
  • Jun 5, 2012 10:15am Jun 5, 2012 10:15am
prices fail to reach median line hence very high probability that prices aiming for 1.2540 again in view of which and spanish bond spread tightening all my short bets are off for atleast today and i am looking for 1.2640 to short it again
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Allah has permitted trade and has forbidden interest [koran]
  • #34,494
  • Jun 5, 2012 10:35am Jun 5, 2012 10:35am
Quoting drzakir123
prices fail to reach median line hence very high probability that prices aiming for 1.2540 again in view of which and spanish bond spread tightening all my short bets are off for atleast today and i am looking for 1.2640 to short it again
In my opinion, if price manages to breach the broken support at 1.2623, then it's not going to stop at 1.2640 as I suspect there will be a cluster of stops in that region.

Based on that view (and it may be wrong), a limit order at 1.2640 will either not get triggered or will be underwater in no time.
Those who say it cannot be done should not interrupt those who are doing it
  • #34,495
  • Jun 5, 2012 10:39am Jun 5, 2012 10:39am
Quoting PipTrapper
In my opinion, if price manages to breach the broken support at 1.2623, then it's not going to stop at 1.2640 as I suspect there will be a cluster of stops in that region.

Based on that view (and it may be wrong), a limit order at 1.2640 will either not get triggered or will be underwater in no time.

Underwater meaning that the trend will go bullish not bear?
  • #34,496
  • Jun 5, 2012 10:42am Jun 5, 2012 10:42am
Quoting PipTrapper
In my opinion, if price manages to breach the broken support at 1.2623, then it's not going to stop at 1.2640 as I suspect there will be a cluster of stops in that region.

Based on that view (and it may be wrong), a limit order at 1.2640 will either not get triggered or will be underwater in no time.
  • #34,497
  • Jun 5, 2012 10:44am Jun 5, 2012 10:44am
Quoting PipTrapper
In my opinion, if price manages to breach the broken support at 1.2623, then it's not going to stop at 1.2640 as I suspect there will be a cluster of stops in that region.

Based on that view (and it may be wrong), a limit order at 1.2640 will either not get triggered or will be underwater in no time.
in that case then 3 possible entry point 1.2700,1.2750.1.2820
thank u for reminding me about 1.2640,i forgot in ur earlier post u said something about 1.2620 breach for bullish sentiments.
Allah has permitted trade and has forbidden interest [koran]
  • #34,498
  • Jun 5, 2012 10:51am Jun 5, 2012 10:51am
Quoting hunter101
Underwater meaning that the trend will go bullish not bear?
Not the overall trend but it will not go back down from 1.2640. If price breaches 1.2623, there is a good chance we will see 1.2680 or even 1.2810 area

Obviously I do not expect it to breach 1.2623
I am simply pointing out that a sell limit order at 1.2640 makes no sense according to how I see things at this point.

A more appropriate limit order would be placed at 1.2620 area with a tight stop in the 1.2640 area. Of course I could be wrong. A massive panic short squeeze will not care where resistance/support or supply/demand levels are.
Those who say it cannot be done should not interrupt those who are doing it
  • #34,499
  • Jun 5, 2012 10:58am Jun 5, 2012 10:58am
Unless something earth shattering occurs, I think we are going to be range bound for the remainder of the NY session. 1.2460 - 1.2420 with a possible test at 1.2400.

As such, it's time to wash my girl (yes, it sounds kinky and something that's always interesting to do in the afternoon, but I'm talking about my motorcycle). Back before the close of NY.

Trade safe.

Cheers!
I observe your reality but live my own.
  • #34,500
  • Jun 5, 2012 11:03am Jun 5, 2012 11:03am
Quoting Cgb
Unless something earth shattering occurs, I think we are going to be range bound for the remainder of the NY session. 1.2460 - 1.2420 with a possible test at 1.2400.

As such, it's time to wash my girl (yes, it sounds kinky and something that's always interesting to do in the afternoon, but I'm talking about my motorcycle). Back before the close of NY.

Trade safe.

Cheers!
Make sure you wash the places where the sun doesn't shine
Those who say it cannot be done should not interrupt those who are doing it
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