Symphonie Trader System

Go Figure, The Poorest Place In Europe Is Run By Communists



From Simon Black of Sovereign Man [6]

Go Figure, The Poorest Place In Europe Is Run By Communists
http://www.zerohedge.com/sites/defau...ommunism_0.jpg

Ah Moldova… the poorest country in Europe, which just so happens to have had a Communist party majority in its parliament since 1998.
These two points are not unrelated.
Despite having achieved its independence from the Soviet Union over 20 years ago, the state is still a major part of the Moldovan economy…from setting prices and wages to media, healthcare, agricultural production, air transport, and electricity.
Under such management, it’s no wonder, for example, that Moldova has to import 75% of its electricity. It is the exact opposite of self-sustaining.
The government does a reasonable job of chasing away foreigners as well.
Agriculture is the mainstay of Moldova’s economy… and while on one hand they say “we welcome foreign investment in agriculture,” on the other they say “foreign investors cannot own agricultural property.” It’s genius.
The average wage here is less than $300 per month… all while Moldovans’ purchasing power is getting eaten away by inflation. GDP per capita, meanwhile, is in the ballpark of many destitute African nations like Swaziland.
http://www.sovereignman.com/wp-conte...3-300x200.jpeg [7]
Of course, not everyone is poor. The politicians at the top of the totem pole are doing great, always pulling the strings in their favor at the expense of everyone else.


Since the last election in 2010, the Communists still hold the most seats in Parliament. The three other main parties banded together to form a majority coalition to take control of government.


Very little has changed. The Communists are still a powerful force in Moldovan politics, and the other parties aren’t exactly champions of economic freedom.


They bicker away about the budget, about who to tax and how much to tax, about what laws to pass and what regulation to implement. As usual, it’s the exact opposite of what they should be doing.
http://www.sovereignman.com/wp-conte...1-300x200.jpeg [8]
Economic freedom… all freedom, really, is not built by passing laws and rules and regulations.


Rather, it’s like what Michelangelo said about sculpting: to achieve growth and freedom, one need only remove the unnecessary stone, underneath which lies the masterpiece.


The likelihood of these guys figuring it out, unfortunately, is zero. And that doesn’t just go for Moldova, but all western governments.
Europe is now taking a dangerous slide back into Communism… or at least steep radicalism. Neo-Nazi parties and openly Marxist politicians are dominating the scene.
http://www.sovereignman.com/wp-conte...2-300x199.jpeg [9]
This is nothing new. As usual, history is full of lessons from when people have turned to radical figures in tough times.


The French, for example, were driven to behead their King in the late 18th century due to dismal economic conditions.


They traded an absolute monarch (Louis XVI) who wrecked the economy for a bloodthirsty dictator (Robespierre) who continued wrecking the economy, and eventually traded him for yet another dictator (Napoleon) who continued wrecking the economy.


This is the vicious cycle that forms when an entire nation reaches the point of desperation, and we are seeing signs of this forming all over the west. The only question is… who will become the next Moldova?

The Exact Moment Greece Will Leave the Euro

By Phoenix Capital Research

…the second Greek parliamentary elections in as many months came and went. While the media is making a big deal of the fact that the anti-bailout SYRIZA party didn’t win, the facts remain that the elections haven’t really accomplished anything of significance for Greece’s fiscal condition or the likelihood of it staying within the EU.

What I mean by this is that while the game of political musical chairs in Europe creates the appearance of change, the fact remains that Greece is broke and that the only thing stopping it from facing systemic collapse is continued support from the EU, particularly Germany.

Put another way, the primary dynamic of Greece attempting to procure more money by either paying lip service to the EU or playing the financial terrorism card (“kick us out and the whole EU system will fall”) remains firmly in place regardless of who’s in office.
Indeed, the New Democracy party, which now has the majority in Greece’s parliament, (due to a loose alliance with the socialist PASOK party which has shown itself to be just as willing to join the completely anti-bailout SYRIZA party) is already calling for a revision to the Second Greek bailout’s terms.


Greece outlines plan to ease bailout burden

Greece wants tax cuts, extra help for the poor and unemployed, a freeze on public sector lay-offs and more time to cut its deficit under a plan likely to run into strong opposition at a European Union summit next week.

The new coalition government's programme, seen by Reuters on Saturday, reflected public pressure to ease the terms of a 130 billion euro ($163 billion) bailout saving Greece from bankruptcy but only at the cost of harsh economic suffering.

If implemented in full, the new programme would undo many austerity measures the country agreed in February to clinch the bailout package, its second since 2010.

http://in.reuters.com/article/2012/0...8HN1MI20120623 [15]

Three key takeaway items from this development:

 

1. Greek leaders, no matter what party they belong to, are unwilling to get Greece’s fiscal house in order (how many debt repayments and deadlines have they missed now?)
2. The current Greek Government is formed via a very loose coalition, which could very easily fall apart, resulting in yet another election.
3. Greece already wants a third bailout (note the additional €16 billion needed to cover the country’s financing needs).

In simple terms, at this point things have become truly farcical: Greece threatens, begs, and even lies in order to receive bailout funds only to then turn around and complete renege on the terms of the agreement. Indeed, we now have evidence that Greece was hiring more Government workers at a time when it was supposed to be implementing austerity measures:

Greece breached bailout rules with staff hirings: report

Greece breached the rules of its EU-IMF loan agreement by taking on some 70,000 public sector staff in two years, undermining efforts to reduce the state payroll, a report said on Sunday.

To Vima weekly said the hirings in 2010 and 2011 were highest in local administration, health, the police and culture, where the number of employees actually increased.

http://www.france24.com/en/20120624-...hirings-report [16]

This is extremely problematic for several reasons.

For one thing, this sends a clear message to the EU as well as the ECB and IMF that Greece is lying to their faces every time it promises to implement reforms. This doesn’t make for much political goodwill (note the survey quoted in the article below).

Greek PM cannot attend EU summit due to surgery

German Finance Minister Wolfgang Schaeuble repeated this view Sunday, in an interview to newspaper Bild am Sonntag.

"It must now be the most important task of Prime Minister Samaras' new government to swiftly and immediately implement the agreed program without hesitation or asking, yet again, what the others could do in addition for Greece," German Finance Minister Wolfgang Schaeuble was quoted as saying. "The ball is in Greece's field; it is in their hands to achieve that Europe's citizens can regain trust. But this will only be achieved through concrete measures and actions."

The Sunday tabloid published a survey on Greece that it had commissioned with Italy's Corriere della Sera, Spain's ABC and France's Le Journal Du Dimanche.

In it, 78 percent of the Germans polled, 65 percent of the French and about a half of the Italians said Greece should leave the Eurozone if it fails to pay its debt.

http://www.foxnews.com/world/2012/06...#ixzz1yjbQVEOR [17]

EU political leaders and their respective citizenry aren’t the only ones realizing that Greek political leaders are a bunch of crooks; the Greek people are also beginning to realize that their political leaders are not looking out for their best interests or for Greece’s: only 20% of the Greek bailout money went into the economy, the rest went towards paying off Greece’s creditors (read EU banks) and the ECB.

As a result of this, Greeks are increasingly voting for the SYRIZA party which is completely anti-bailout, anti-Euro, and anti-austerity:


October 2009
May 2012
June 2012
SYRIZA’s % of Vote
4%
16.8%
26.9%

As you can see, SYRIZA is rapidly gaining popularity amongst Greek voters. This is extremely problematic as it indicates that should the current, new Greek government fall to pieces (as it most assuredly will… the new Finance Minister just resigned after being in office for only one week), it’s quite possible SYRIZA will win whatever subsequent election takes places.

European leaders will be meeting this Thursday and Friday to discuss Greece and other issues. As the above articles headline reveals, neither Greece’s new PM nor its Finance Minister (they no longer have one) will be in attendance.

However, we already know from the headlines this morning that Angela Merkel will not agree to Euro bonds or any kind of shared deposit insurance if it means “joint liability” (read: Germany being on the hook for other EU members’ bank losses).

We also know that the ECB is not interested in buying more government bonds (it hasn’t for 14 weeks now). And the ECB has stated point blank that Greek negotiations will not begin with Greece “wish[ing] for more time.”

So, there is a relatively high probability that a Grexit will be coming sooner rather than later. It all boils down to one simple fact: the second the money spigot from the EU to Greece gets turned off, Greece leaves.

Consequently, the real question is: “when does Germany and the rest of the EU stop picking up the tab for Greece?” Judging from the above survey in which even the French and Italians now think Greece should leave the EU if it doesn’t start paying its bills, it won’t be long: Greece will need another €16 billion in financing if the EU accepts its request for another extension (yes, this would be the third bailout).

I believe we have at most a few months and possibly even as little as a few weeks to prepare for the next round of the EU Crisis.



Good Investing!

Graham Summers

Thanks Patti, it really depends what time of day it is. The first trade was taken early morning so I'm always wary of it, if you look at your own chart and look to the left you will see where there was a small resistance when it tried to go back up just before Tokyo opened, I placed my take profit a few pips below that because we had been in a downtrend and "usually" Frankfurt/London will test something from the Asian session either support/resistance or Asia high/low before resuming the trend and as I was going out I didn't want to take any chances.

The second trade, by the time it had reached consolidation I had moved to BE +1 and luckily it didn't get hit, I was targeting the first ATR line at that point because it was also close to the weekly pivot.

I've asked RJ that question before and his answer was as long as it opens clear of the ma and looks to be a candle of the right colour he goes in as long as everything else is right.

Heiken ashi candles unfortunately don't show us where they actually open or close thats why I hover over my own chart if I'm looking back, to see where they actually opened. If I look on a normal candlestick chart, the one I took my short on was actually a bullish candle but a red heiken ashi. Thats why RJ draws the horizontal line where he does, so that you can see that is the signal candle (doesn't matter where that opens) he takes it on the open of the following candle as long as the heiken ashi is clear of the ma.

His stop loss is previous swing high/low and take profit, he watches near support/resistance for how its moving through it, or not as the case may be.

I you can tear yourself away from the current page for a moment and go back just a few pages, you see how I do it because it is all explained in the recent 'live' trade I posted.

Correct again.....thanks

I have been asked via PM for my template again, so here it is, with the indicators.

Ok, thank you guys
Another question... What do you do when you are in a trade and opposite signal appears? I am talking about eur/usd from this hour. First is buy, then sell.

Or aud/usd first short then buy, 30 minutes later short again. The worst is, that hourly eur/usd or anything else runs... maybe 10-15 max pips in one direction.... (and in polish cnbc I hear journalist who says, that we have very quick uptrend... 3-5 pips per hour within the night... That's really very fast ;D ) How do you earn, and have no looses. I almost don't have wins

I am the only one who can loose with this system I see

No you're not alone.

1. You can try going to the M1 chart and trade the small oscillations.

2. Alternatively look for the trend on the M15 and only trade from the M5 in that direction. (The M5 symphonie indicator is generally looking for the start of a longer term trend.)

3. Try Tecnobyte's fractal method - it has already produced a couple of good trades on the EU today.

4. Wait for better conditions

Since Frankfurt open on AU there has only been one trade signaled.....short. If you took that trade and your SL was placed correctly your trade would still be alive.

EU Since Frankfurt open, there has been one trade signaled.....short. That trade is currently in profit by a few pips.

The long trade signal was below daily pivot, you can easily out rule trades using pivots. The best thing you can do as new user to the system (like me)is to be really picky with your trades.

edit: what RJ explained, time. Place your bets after London open - till 1h before London close. That narrows down the possibilities yet again

Currently the EU trade is at +15...the AU trade is at about +1

This week will be very low on volitility...USA Holiday week. Whatever movements will most likley stall because no USA markt movement because people not in markt.

BUt the ECB Rate Decision on Wednesday may prove to have markt movement.

Now TVI on your matrix turns white, do you exit the trade? And what would you do, if buy signal appeard right now (would you exit and take L, or wouldn't do anything? ).

Why would you exit?

I just wanted to be sure, that tvi turned against us doesn't mean anything. Thanks for clearing it up I am still curious what one should do when there's a signal against us, but I will maybe ask you when such situation happends.

Rather than that, why don't you review my live trade from a few days ago? It's very easy to follow and will save me constantly repeating myself!

France's far-Left President Hollande.....you must love France and their INSANE ideas....This is no joke....

France may extend TV licence fee to computer screens

Culture minister says government is considering making those who own a computer screen but no television pay up



http://www.guardian.co.uk/world/2012...mputer-screens

Now disregard any signals and any of that indicator stuff.....here we have 12 candles that failed to push the price down to the next level. 1 hour of trying, but no cigar. So.......you might get the idea that this could reverse, even without seeing a single indicator. It may not of course, it may dive...we have no way of knowing. So the prudent thing to do would be to bring the SL down so that if the price reverses, which it now has.....we catch some profit. See?