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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #43,461
  • Jul 19, 2012 7:24am Jul 19, 2012 7:24am
Quoting PipTrapper
Risk on or risk off matters not in the case of the Euro alone. The moves we are seeing in the E/U pair are because of the USD being bashed on the head over hopes/fears of QE3... which will not happen.

The reason the the E/U pair is choppy is because the Euro is very bearish. Look at it against all other major crosses (GBP, CAD, AUD, JPY). Against those pairs it is on a sustained trend to hell.

So, in a risk on environment, the E/U pair will chop and in a risk-off environment, the E/U pair will tank.

Any positional or swing trader will...
Many thanks for this....from a relative novice
  • #43,462
  • Jul 19, 2012 7:38am Jul 19, 2012 7:38am
Quoting PipTrapper
Risk on or risk off matters not in the case of the Euro alone. The moves we are seeing in the E/U pair are because of the USD being bashed on the head over hopes/fears of QE3... which will not happen.

The reason the the E/U pair is choppy is because the Euro is very bearish. Look at it against all other major crosses (GBP, CAD, AUD, JPY). Against those pairs it is on a sustained trend to hell.

So, in a risk on environment, the E/U pair will chop and in a risk-off environment, the E/U pair will tank.

Any positional or swing trader will...
US jobless claims climbs to 386K... not good for USD as it provides more fuel to the QE3 bandwagon. NY opening bell may tell a different story though as the markets have already rallied substantially and may be looking to take some profit. Time will tell.
Those who say it cannot be done should not interrupt those who are doing it
  • #43,463
  • Jul 19, 2012 7:44am Jul 19, 2012 7:44am
http://whatgifs.com/wp-content/uploa...pping-wood.gif
There are no right and wrong decisions......Only timely decisions
  • #43,464
  • Jul 19, 2012 7:51am Jul 19, 2012 7:51am
Quoting JollyJoker
http://whatgifs.com/wp-content/uploa...pping-wood.gif
http://whatgifs.com/wp-content/uploa...pping-wood.gif
Those who say it cannot be done should not interrupt those who are doing it
  • #43,465
  • Jul 19, 2012 7:55am Jul 19, 2012 7:55am
Quoting PipTrapper
http://whatgifs.com/wp-content/uploa...pping-wood.gif
Hey, that's a neat machine! Never seen one like that. I'm still chuking wood with a axe.
I observe your reality but live my own.
  • #43,466
  • Jul 19, 2012 8:06am Jul 19, 2012 8:06am
Quoting Cgb
Hey, that's a neat machine! Never seen one like that. I'm still chuking wood with a axe.
And I have never seen such a long tree...
Man... some 100 meters so far !!!
Read Charts - Not Papers
  • #43,467
  • Jul 19, 2012 8:09am Jul 19, 2012 8:09am
Quoting halkins
And I have never seen such a long tree...
Man... some 100 meters so far !!!
I observe your reality but live my own.
  • #43,468
  • Jul 19, 2012 8:17am Jul 19, 2012 8:17am
Although its just a Moo Point in this choppy market ( Reference Joey from FRIENDS) for what its worth i expect a strong push upside on EURUSD after us cash market open in 15 minutes. I expect 1.2232 to hold this move down till then... A break of 1.2232 and focus turn to 1.2190-70 then 1.2150 and then God knows where :/
I still favor upside
Double W Pattern on GBPUSD warns of a large move down though in next week
There are no right and wrong decisions......Only timely decisions
  • #43,469
  • Jul 19, 2012 8:30am Jul 19, 2012 8:30am
50 pips down with a bad news for the us? how come
this move must be temporary
  • #43,470
  • Jul 19, 2012 8:30am Jul 19, 2012 8:30am
Quoting halkins
And I have never seen such a long tree...
Man... some 100 meters so far !!!
right ........ and can work non-stop 24/7 ...
PT , how to stop the video ..... my computer get smokey ...
  • #43,471
  • Jul 19, 2012 8:31am Jul 19, 2012 8:31am
Quoting Evanescence
50 pips down with a bad news for the us? how come
this move must be temporary
maybe traders repositioning before home sales data release
  • #43,472
  • Jul 19, 2012 8:35am Jul 19, 2012 8:35am
i know it trying to catch a falling knife but im taking a small long as the lower rising trendline (light blue) has been hit and been reliable point of reversal past few days

will trail SL closely and move to BE asap.
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Click to Enlarge Name: euro.gif Size: 46 KB
  • #43,473
  • Jul 19, 2012 8:36am Jul 19, 2012 8:36am
ok SL moved to +1 after 5 pips
  • #43,474
  • Jul 19, 2012 8:41am Jul 19, 2012 8:41am
Quoting JollyJoker
Although its just a Moo Point in this choppy market ( Reference Joey from FRIENDS) for what its worth i expect a strong push upside on EURUSD after us cash market open in 15 minutes. I expect 1.2232 to hold this move down till then... A break of 1.2232 and focus turn to 1.2190-70 then 1.2150 and then God knows where :/
I still favor upside
Double W Pattern on GBPUSD warns of a large move down though in next week
if this turn out to be true... I will be a happy man
P.S. : I am not in any long trade momentum down doesn't comply with my rules for taking long entry
There are no right and wrong decisions......Only timely decisions
  • #43,475
  • Jul 19, 2012 8:41am Jul 19, 2012 8:41am
Quoting neuron
ok SL moved to +1 after 5 pips
lol short lived
  • #43,476
  • Jul 19, 2012 8:43am Jul 19, 2012 8:43am
Quoting Gofer Pips
I have had a sell limit @1.2360(38.2) since we broke that level July 6, as well as 1.2420(50)...and many more above that were realistic and now only a pipe dream.
Until I reconfigure accounts with new broker, I can only trade one way here in the US on any one pair, and since I have a short at 1.2282( 23.6), I will patiently wait for profit, or more shorts on this turd.
BTW-numbers in () are fib levels of move down from June 29 high of 1.26919.
  • #43,477
  • Jul 19, 2012 8:44am Jul 19, 2012 8:44am
Quoting JollyJoker
if this turn out to be true... I will be a happy man
P.S. : I am not in any long trade momentum down doesn't comply with my rules for taking long entry
hahahaha BYE BYE EURO, a new low and its further down
There are no right and wrong decisions......Only timely decisions
  • #43,478
  • Jul 19, 2012 8:56am Jul 19, 2012 8:56am
Quoting JollyJoker
hahahaha BYE BYE EURO, a new low and its further down
The Euro has changed it's name. It is now the man-euro

Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #43,479
  • Jul 19, 2012 9:02am Jul 19, 2012 9:02am
Not gonna lie, I'm not the best with FA and this just goes to show it... poor US data but Euro can't rally. I can't complain, cause I'm quite short, but I'd like to understand it.
check out my blog: forexmademillionaire dot com
  • #43,480
  • Jul 19, 2012 9:06am Jul 19, 2012 9:06am
I am surprised as well; perhaps the data was not as bad that it would hint a possible QE, thus... less hopes for the QE in the future?
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