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  • #663,221
  • Jun 29, 2012 3:53am Jun 29, 2012 3:53am
Quoting KiwiTrada
nothing has changed, is piece of shit, and millions of people already suffering because the piece of shit
The trouble is worldwide. Actually it are not so much the politicians that are at fault - at the end of the day it are the big greedy manufacturers that are at fault. Check what I wrote in one replies to one of the two news articles that I responded to, perhaps you may understand the dynamics at play. So much has been outsourced to China that local business have gone under and now the Chinese are buying up the local properties and factories. Even our own military is buying their hardware from the Chinese, wtf. If the Chinese were to stop exporting many countries would be in strife (since they can no longer make themselves the goods).. Same as with a lot of power stations (electricity), water stations etc are controlled from India. What if the internet goes down - locally the people would not have a clue what to do.

The world as we knew it is FUBAR.
With due respect to all (who might have a different viewpoint).
  • #663,222
  • Jun 29, 2012 3:55am Jun 29, 2012 3:55am
Quoting Crassius;5800462<br /> <br /> [B
I'll be looking closely at the bond markets as the canary in the coal mine[/b]...

I am looking to see if bond yields in the open market fall considerably confirming the market is buying into this summit result. I want to see Spain 10 year sub 6.6% Italian Ten year sub 6%.... I'll be watching for them to creep up as that will be the first sign that the markets are rejecting the deal....

Italian Yields at days highs just shy of 6% level -- 5.978

Spanish Yields 6.612


The realization is creeping into the markets --- but these levels may also be resistence... tim ewil tell.. and the news funny season will continue through the day..

As its Friday, and half way through the trading day, it is harder to get a sustained move underway -- a lot of people, me included are inclined to stay o the sidelines ahead of the weekend -- and the less people that jump on a direction, the less momentum a move can get --

I'm only looking for a fast money move down -- a slow melt down will see me staying on the sidelines-- Monday is just around the corner--
  • #663,223
  • Jun 29, 2012 4:02am Jun 29, 2012 4:02am
Quoting Mossy68
I am not arguing, just stating a fact from yesterday afternoon, that certain people said that it would drop like a falling knife, yes it did drop then 9 hours after waiting for it to drop again, it popped up.
I was out of all trades last night at 12.00 GMT so missed this pop up, but now everyman and his dog is saying or going short and not much is dropping so far.

Every Trend must end at some point, and even with the best charts and anaylis in the world, we will never stop a trend reversal.
I can understand that. In all fairness though, the markets change at a moments notice and when I first started I learned that the hard way. Perhaps at that time it was due to fall like a knife at least to those traders. Also, there are traders out there willing to hold their position for months and others for an hour. Those who shorted the Euro at the end of the pop or even at 1.260 would still have collected 20-80 pips.

The best charts and analysis may not stop a reversal, but for many it allows them to take the ride. Market conditions are ever-changing. It is by far the most challenging aspect to contain. As traders we all learn adapt at some point.

Traders or anybody who aspires to be great at what they do will continually learn and develop. It is those who think they are perfect will eventually give in to their hubris.
  • #663,224
  • Jun 29, 2012 4:04am Jun 29, 2012 4:04am
Quoting Crassius
-- and the less people that jump on a direction, the less momentum a move can get --
On the other hand - the less people that are willing to trade the further a panic order (or stop run) will go. If a hedgefunds wants to get out at all costs (end of the month and actually now end of quarter) and there is no one to take the other side then better look out.

It may be a very educational US trading session.
With due respect to all (who might have a different viewpoint).
  • #663,225
  • Jun 29, 2012 4:05am Jun 29, 2012 4:05am
is anybody gonna sell?
  • #663,226
  • Jun 29, 2012 4:08am Jun 29, 2012 4:08am
looks like a flag so far
Attached Image
  • #663,227
  • Jun 29, 2012 4:10am Jun 29, 2012 4:10am
Quoting undertaker66
is anybody gonna sell?
Every time I look to sell it rallies back up. I think it will be late europe/early NY time before we get out of this range.
  • #663,228
  • Jun 29, 2012 4:12am Jun 29, 2012 4:12am
Quoting shmandi
looks like a flag so far
so u think that its gonna break s3?
  • #663,229
  • Jun 29, 2012 4:12am Jun 29, 2012 4:12am
Quoting shmandi
looks like a flag so far
Yes, waiting to see below 1.2550 now.
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #663,230
  • Jun 29, 2012 4:13am Jun 29, 2012 4:13am
Quoting sukkim
Yes, waiting to see below 1.2550 now.
will u place buy orders there?
  • #663,231
  • Jun 29, 2012 4:14am Jun 29, 2012 4:14am
Quoting undertaker66
so u think that its gonna break s3?
i dont know but will watch closely
  • #663,232
  • Jun 29, 2012 4:17am Jun 29, 2012 4:17am
Quoting undertaker66
will u place buy orders there?
I will be long around 1.2500 only.
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #663,233
  • Jun 29, 2012 4:18am Jun 29, 2012 4:18am
Quoting shmandi
i dont know but will watch closely
i mean if its the wedge pattern, it will have to shoot up to s3 and higher
  • #663,234
  • Jun 29, 2012 4:19am Jun 29, 2012 4:19am
Quoting undertaker66
i mean if its the wedge pattern, it will have to shoot up to s3 and higher
nothing is certain. but if it plays out like in the books, that just might happen
  • #663,235
  • Jun 29, 2012 4:23am Jun 29, 2012 4:23am
Quoting undertaker66
i mean if its the wedge pattern, it will have to shoot up to s3 and higher
Looks like a flag with the pop up being the mast and the consolidation trends forming the flag. If a triangle was forming it would look like a pennant. Rarely is a flag a reversal =/
  • #663,236
  • Jun 29, 2012 4:23am Jun 29, 2012 4:23am
Many Analysts reckon that the jump this morning will likely unwind and drop towards 1.21

Hmm, I wonder...

-=Edit=- and some reckon a target of 1.15 oO
  • #663,237
  • Jun 29, 2012 4:28am Jun 29, 2012 4:28am
Quoting Xantor
Many Analysts reckon that the jump this morning will likely unwind and drop towards 1.21

Hmm, I wonder...

-=Edit=- and some reckon a target of 1.15 oO
Would be a hell of a drop! Where did you hear that?
  • #663,238
  • Jun 29, 2012 4:29am Jun 29, 2012 4:29am
i think to many traders are still short, got caught with this move and now they hope that it will come back down.

and the ones who hope often get caught again (and again) so i calculated that we will hit at least the 1,26000 again...
  • #663,239
  • Jun 29, 2012 4:31am Jun 29, 2012 4:31am
Quoting pip_trader
Would be a hell of a drop! Where did you hear that?
http://4---5---6.blogspot.com/2012/0...-standard.html
  • #663,240
  • Jun 29, 2012 4:33am Jun 29, 2012 4:33am
Hi

I am a newbie so probably am displaying my ignorance, but what happened between 3 am and 4 am Europe time this morning, where did that big move come from??????

thx
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