EURUSD

If for the rest of this month the price shoots up, makes a massive high, and then drops like a rock and in October reaches 1.8 then this statistic will still hold true. and the relevance of last weeks drop will be almost 0 in terms of your theory.

I'd recommend you don't try to trade some yearly TF based July statistic theory based on the 6th trading day of the month.

just curious. i dont mind a long with in reason since we always bounce. its never a straight line down.
but for all the bulls who think more then a few hudred pips or even 500. why. just remember bear/sterns was bundling crap, it worked fine till they ran out of buyers. the e bonds are the same thing with a different name.

Really?

This should be next long...

Greek labor minister resigns:
http://www.guardian.co.uk/business/2...onfidence-vote

Spanish bond yields over 7%!!:
http://www.marketwatch.com/investing...countrycode=ES

And one video on the Wall Street Journal site said that an economic institute that's never wrong predicted a recession for the U.S. (One of the factors? Low job creation.)

very slow day, all longs closed, tomorrow is another day.

maybe one of the reason for long

Seeing as you ask Personally, I'd like to see 1.26 ish before we go lower. Why? Nothing to do with fundamentals. As far as I can tell 99% of fundamentals are bullshit when it comes to trading EURUSD. Why? Because both countries are up the creak and they seem to lack paddles. I like to trade based on what I think will make the 2% the most money. People talk about how they need to fix the euro, or that countries are in trouble, companies in trouble, etc. but face it what is really in trouble is Joe Public, they are who pays the piper in the end.

In the '2008 crisis' many companies went under and a lot of people lost jobs and money, but the guys at the top came out as rich as ever, what does that tell you? That they can run something into the ground quite happily, because the lies and fraud is what provides 'fake profits' with which they can use to pocket massive bonuses - and then when it is found out and bankruptcy is declared then they still keep their money, it's their personal wealth now. There's ZERO incentive for a hedge fund or some bank to keep their clients money safe.

So with that in mind, the people at the top of this EURUSD business don't care about 'fundamentals' nor do they care about the people it affects, they'll push price up and down the chart based on what gives them the most profit in the shortest amount of time. I couldn't care less of greece is on the verge of bankruptcy or the US debt is massive and jobless claims are high, I read only the chart and think to myself "If I could move this chart anywhere I want, where would I move it to take the most amount of orders out and profit?"

Even NFP, arguably one of the most important data releases on our economic calendar, I didn't care less about - I saw on the chart a down move build, put in my short, and I was perfectly safe (and profitable) - whatever numbers came out, good for US or bad for US, it would have produced the same result, and the fundamentalists afterwards would reason it out "bad data, means risk off" or "good data, means people want to invest in the US again."

Think about where the data comes from also, the economist predictions and the hedge fund predictions, that's who the media goes to when they want their news stories. It's like asking the guy at a pawn shop how much something is worth - he'll tell you ten bucks then next week you see it in his very shop on sale for 200. He has no incentive to tell you the real price, because he wants to profit.

Those are my thoughts behind any trades I take anyway Whether people agree or not I am not sure I even care, it works for me, I make money.

I'm not super good at predicting longer TF targets, however, so I mostly stick with my 40-90 pip moves, so my "I want to see 1.26" is just as likely to be a wrong prediction as right. Between now and then a lot of orders could build up all over the chart and invalidate my desire to see 1.26 but then again I don't trade long term anyway so it doesn't affect my bottom line, you just wanted to know what the bullish people were looking for and why so there you have it.

The reason why I say 1.26 is simply it's just destroyed anything below with that massive drop after the big rally the other week. Everyone said "it's all up from here!" and now everyone's saying "it's all down from here!" - look where it got them last week. I'd like to see it at least reach the origin of last weeks major drop if I were seriously looking to trade long term.



Also, sorry this is a major blabfest of text.

what caused the pop just now?

minor news release + short covering/stop losses?

Which news?

out from my longs at 1.2320

Caused by people buying euro, selling dollar

Some stops done.

s/o s..

1.2340 could be the next one..

LOL
thats a good thinker u got there Alan

Now (18h32 CET) major move up might have been done ...

Highest been 1.23242 until now ...

Aprox. 100 pips span since lowest on SUNDAY ...





;-|

graduation in stupidity? please! i know someone who is hopelessly in debt after going to college and he got nothing out of it. wake up sometime this century. come back and talk to me when you have a cent to your name.

2622/24 is a valid algo.. i much rather big #s to play off then a smaller one. cause the smaller ones lie more. and usually a bigger one has more potetial if your right.