Those who say it cannot be done should not interrupt those who are doing it
- #34,781
- Jun 7, 2012 2:26am Jun 7, 2012 2:26am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
- #34,782
- Jun 7, 2012 2:28am Jun 7, 2012 2:28am
- | Joined Dec 2010 | Status: Trader | 2,426 Posts
Straight to the point.The question is where will it reverse?
Somehow, i wouldn't be surprised if we go high enough for people to start thinking that the tide has turned on the euro and then there will be an even stronger sell-off.
I have been buying the dips yesterday (with SL) but, like you, I have set up my traps on the way up
Good morning all
WooHooo It's risk-on... The Central Banks have come to save the day with massive intervention rhetoric. So, all is well now and everybody can go back to buying the dips with a sense of security that the boys with all the power have their back. Right? Right?
Wrong...
This is a false sense of security. No amount of printing by any central bank is going to fix the European debt crisis or the US fiscal cliff problem. It is just an illusion. Don't be fooled. As quick as risk assets have risen, they will fall five times quicker...
- #34,784
- Jun 7, 2012 3:27am Jun 7, 2012 3:27am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
I have adjusted my sell limit entries.
1. Moved sell limit from 1.2623 to 1.2667 (38.2% fibo)
2. Created new sell limit order at 1.2784 (50% fibo)
I have done this because I smell another short squeeze brewing before the manure hits the fan.
I am not confident enough to buy into it. I am just being my usual cautious and conservative sniper.
E/U H4
1. Moved sell limit from 1.2623 to 1.2667 (38.2% fibo)
2. Created new sell limit order at 1.2784 (50% fibo)
I have done this because I smell another short squeeze brewing before the manure hits the fan.
I am not confident enough to buy into it. I am just being my usual cautious and conservative sniper.
E/U H4
Those who say it cannot be done should not interrupt those who are doing it
- #34,785
- Jun 7, 2012 3:31am Jun 7, 2012 3:31am
I have adjusted my sell limit entries.
1. Moved sell limit from 1.2623 to 1.2667 (38.2% fibo)
it still lines up with that weekly trend-line also.Seems US has been doing the buying this week so I wouldn't be surprised if we drift south then pop north for the US session, but I'll be at work anyways
"Don't Panic..."
- #34,786
- Jun 7, 2012 3:34am Jun 7, 2012 3:34am
- 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
- #34,787
- Jun 7, 2012 3:38am Jun 7, 2012 3:38am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
I still have my pending sitting there from a couple of weeks ago
Seems US has been doing the buying this week so I wouldn't be surprised if we drift south then pop north for the US session, but I'll be at work anyways
Those who say it cannot be done should not interrupt those who are doing it
- #34,789
- Jun 7, 2012 3:45am Jun 7, 2012 3:45am
US was doing most of the heavy selling the last 2 weeks (starting with the sell off from about 1.2667, or slightly before), so it makes sense that they do the majority of the buying (covering) as we head north. Where UK/EU were doing some buying, and now they are the ones selling into the rallies.
Food for thought, IMO, but I'm a long way from truly grasping it.
"Don't Panic..."
- #34,790
- Jun 7, 2012 3:56am Jun 7, 2012 3:56am
- 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
- #34,791
- Jun 7, 2012 4:02am Jun 7, 2012 4:02am
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
Morning everyone.
- #34,792
- Jun 7, 2012 4:06am Jun 7, 2012 4:06am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
wheres she gonna go?
Those who say it cannot be done should not interrupt those who are doing it
- #34,793
- Jun 7, 2012 4:07am Jun 7, 2012 4:07am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Morning everyone.
Those who say it cannot be done should not interrupt those who are doing it
PT,
do you see any chance for the E/U pair to go down after Ben Bernanke has held his speech, either by a massive spike down to low 1.24s or even better yet to continue its previous downward trend ?
Or can he do something to cause the hopium-filled mood to vanish instantly?
(Praying for my underwater shorts
)
do you see any chance for the E/U pair to go down after Ben Bernanke has held his speech, either by a massive spike down to low 1.24s or even better yet to continue its previous downward trend ?
Or can he do something to cause the hopium-filled mood to vanish instantly?
(Praying for my underwater shorts
)
- #34,795
- Jun 7, 2012 4:10am Jun 7, 2012 4:10am
- | Additional Username | Joined May 2012 | 1,201 Posts
Morning everyone.
What will Benny say this AM?
WATCH the Bond Yields for clues?
Trade well and be patient.
- #34,796
- Jun 7, 2012 4:12am Jun 7, 2012 4:12am
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
Guten Morgen
Read that you moved your sell limit to 38.2% fib. You see it breaking that high? Guess there are buy orders as well as stop limits above 1.2623 area so maybe that makes sense.
- #34,797
- Jun 7, 2012 4:15am Jun 7, 2012 4:15am
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
- #34,798
- Jun 7, 2012 4:16am Jun 7, 2012 4:16am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
PT,
do you see any chance for the E/U pair to go down after Ben Bernanke has held his speech, either by a massive spike down to low 1.24s or even better yet to continue its previous downward trend ?
Or can he do something to cause the hopium-filled mood to vanish instantly?
(Praying for my underwater shorts
However, Benny is not about to dash all hopes. He will leave QE3 on the table as an option even though I don't believe he will actually implement it.
As long as he says it is on the table, the market will not have any incentive to keep buying USDs so the short squeeze will probably proceed before the next major move down to the very low 1.20's or lower.
Those who say it cannot be done should not interrupt those who are doing it
- #34,799
- Jun 7, 2012 4:24am Jun 7, 2012 4:24am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Will we have risk on or off?
What will Benny say this AM?
WATCH the Bond Yields for clues?
Trade well and be patient.
I think Benny is going to keep QE3 on the table as a deterrent for the speculators and as an incentive for the investors. However, it's not going to solve any problems. The problems will simply get worse and the markets will fall again.
10 Year US Bond yields hit an all time low so it's time for a rebound. Markets are cyclical. It cannot be one way all the time. What goes down, must come up... before it goes down again
Those who say it cannot be done should not interrupt those who are doing it
- #34,800
- Jun 7, 2012 4:27am Jun 7, 2012 4:27am
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts