The Really Useless Thread

Thanks. And props to you for at least admitting it. I always get a kick out of the ones that just pretend they never called for the opposite reaction.

i am bearish for 0.8xx.. atm till 2282 we have a decent chance for 2964. i am not longing it.. since we hit 2368 the smart thing for me to do is close. and wait for 2962/64 or 2282.. i didnt say i was smart. and if we did get to 2766 i would be short because of the bigger charts. where we are atm, if the bears continues. 2328.5 is a support that may launch 2962 attempt. what has me mostly ignoring 2962/64 is the bigger charts.. 2328 is the mid.. and the ones below are an = distance as 2766/2328 are apart. like the other was 470 pips apart. this one is about 400 pips. time will tell.. either 2962 or 400 pips lower then 2328 or 470 pips lower then 228x on the way to 00.8

No let up in H4 MACD yet so no longs for me

Market digesting the initial reaction. All main markets holding the same levels for tomorrow NFP (so same levels in play), except Euro that extended the selloff but it couldn't crack (so far) the strongest Support 1.236x.

Quick update after ECB.

1. Q/M close above 1.262x opened 1.285x with max overshoot to 1.295x for the retrace on risk on. Bulls will need a "miracle" (strong FA) to see beyond thes levels especially with rates in play. [still in play but fading by the minute a break below 1.236x will cancel 1.295x]
   
2. Continuation down to the TA Q Support 1.223x and below to FA key levels depending on the ECB:
   1. [highlight]0.25 cut will open yearly Support at 1.162x with intermediate stop at 1.183x.[/highlight] in play for the mid term trend
   2. 0.50 cut will open 1.08x strong breakout point in Y/Q/M charts
   3. A further cut to negative rates will open parity and below.

3. On the weekly 1.296x last break down marginally open (above collateral damage in the downtrend and need FA) for the pullback on a break of noisy 1.268x resistance [marginally open as long as 1.236x hold the weekly roll]. Continuation targets wide open [highlight]1.236x [/highlight] and 1.223x. Below lots of air to 1.183x.
   
4. Daily in wide consolidation range (HH but LL) and nothing tradable in my books for this week. [check]
   
5. Intraday (h4) also in chop zone after last breakout on Friday with bulls obviously with the upper hand. 1.267x line in the sand for a test 1.276x at least and weekly/monthly targets above after [failure to break 1.267x and therefore just crumbs in the euro].

H4 in deep breach of daily S and also breach of strong weekly support. Mid term direction decided, short term with NFP and after we are ready to go...let see how the roll plays out today...

H4 chart update

sisse

nice job geppy... that was glorious

2362 may give

Very nice view Sisse...I'll be looking for the shake out too.. It's going to be a bouncy day..GL!

Goldman Sachs hikes non-farm payrolls forecast

http://www.forexlive.com/blog/2012/0...olls-forecast/

how so?
ah well too many ego's wish you all good luck....

Thnks mate ....IMO a very poor NFP will be much better for any rally in the euro to force the crying more more QE3 from the FED.

The bastards have been doing the same trick every single time since QE1 (it has become almost as predictable as the EZ debt): Cry for more free money/make the break and rally, sell on any cough from the EZ.

Today the bastards have China, UK and the EZ all of them !!! with more free money for them (and thats a LOT) but we already have the typical round of "analysts" from the major institutions asking for the FED to join the party

...TA all markets are already in a break (stocks) but is worth the try in case NFP goes choppy.

CBs has been playing catching up ....if there is going to be a global collapse is going to come from them not "realizing" the game on time and wasting all the weapons in the arsenal...the only losers: well like usual lately : the taxpayer and the average joe ...for us lets ride the pig with free money and sell EZ lack of credibility ...

sisse

you be the judge bear.

might get a few on the short term long boat if 2391 gives way

Not sure if you're being sarcastic or not. But thanks anyway.

I'm starting to add back my covered shorts where I can. Got some in at 1.2394 and will add more if we can get any higher.

Gonna head out for a hike here in Tahoe and then happy hour.

no man not at all...

was a hell of a week for ya... nice trades

he's sincere good fella jon - i wonder if things drum down after tomorrow

we shall see enjoy the summer whatever the case

see u in sep ptl - be gd old boy

whoops - your alive

Gotcha, thanks man. Hope you made out well too.

we should go to 2370 before 2396,, so a bounce near 2696 seems like a good move to start the party.

its so lively up in here