EurAnalysis

this chap just dont understand ur play at all.i have,nt seen u taking any loses in last 3 months atleast.and also i know for a fact that u have,nt taken any long position at all and thats some consistency my dear mentor. and i am not too far away from emulating that feats of urs,i am still learning but things are becoming more and more clear just by watching u.God bless u with many more green pips and some green pips to me as well lol

PT has been shorting since last year, from 1.42. I was here around that time and all he did was short. I shorted the hell out of E/U too but has since moved on to stocks instead. He's a very very patient EU bear I tell you.

hi goferpips,how ru.how r ur positions, i hope ur still with ur positions.and thank u for the voucher and i am humbled, hope i wont be a disappointment to u for ur confidence in me.

eu daily close in 36min looking like a bullish engulfing ....let's see if it last..

i wont call him patient bear but it will be more appropriate to call him a well balance trader. u understand what i mean.

i was just lucky with that trade and about 60% of my trades end in red.and i promise its going to change i will be taking more of long term trades,basically i am in a transition stage.in my earlier avatar my specialty was 5 min time frame but i am not young anymore to take my professional job,family and other trivial things to combine with trading and comes out a head
yea some time it feel good taking a position against the crowd and comes out ahead but again as a trader we r not in it for feeling good.in markets fastest way of making money is patience and ability to sit tight.

A very simple question?
In your chart, where should my eyew go?
There are so many lines there.
I would be lost, since I never have more than 3 or 4 lines
to decide on buying or selling.

http://www.goldseek.com/tools/print.php


GOLD IS THE TRUE SANCTUARY
The concept of solutions for the global monetary system, the global currency system, and the global banking system, have become outright laughable and an insult to the intelligence of observers. The paper system has become weighed down by toxic assets to the point of rendering the entire system insolvent and sinking its future prospects. No new debt can repair and provide remedy for the fatally sick and current overly indebted dying system. The new trade settlement facilities are ready to put in place, based upon a Gold & Silver core. That word has come from a source directly involved in the preparation process for the Eastern Fortress. The trade notes will provide the lubrication to complete trade, which will have a hard asset core. The USDollar will gradually fade away from trade settlement, except for the United States, Canada, the United Kingdom, and possibly Southern Europe. The great tipping point approaches, whereby over half of global trade will be settled outside the domain of the crippled toxic USDollar. The foreign participants can no longer tolerate the bank bond fraud, the central bank debasement, and the usage of bank devices as weapons.

http://67.19.64.18/news/GoldenJackass/2012/7-25gj/2.png

Major changes are coming. A return to a certain type of Gold Standard is right around the corner, awaiting the Western collapse that is in a late stage of pathogenesis. The jumping brush fires that the London, New York, and Western European bankers must contend with will eventually envelop them, doling out massive smoke inhalation. Worst of all, the jumps will expose new areas of corruption every few weeks, sufficient to bring down the system. After all, it is a fiat faith based system. The faith has long ago vanished. All that remains is power politics, arrogance, and corruption. The new system will force the Gold price above $5000 per ounce on a conservative basis. It is all part of the plan not yet revealed. The Gold/Silver Ratio will revert to 20:1 in time. That translates for the math impaired to a $250 per ounce Silver price. These are conservative figures.


THE HAT TRICK LETTER PROFITS IN THE CURRENT CRISIS.

http://67.19.64.18/news/GoldenJackass/2012/logo.jpghome: Golden Jackass website

time will tell if we get there....but for now we need to close above daily r3 and resistance that has been tested 6 times..my guess we will finally break out north of this wedge this week..

Hello all friends,

Good morning/ afternoon / evening. My intention is to stay away from the screen for few days but couldn't. The price is too good to be ignored. Just scalping, took short @ 1.21851. SL to BE . TP @ 1.20860. MM < 1 %. Have to go for the meeting now. GL to all and with green pips.

I call him a very humble 'guru'.

http://www.gata.org/themes/gata/imag...ting_small.gifSubmitted by cpowell on 01:02PM ET Wednesday, July 25, 2012. Section: Daily Dispatches
By Joshua Zumbrun
Bloomberg News

Wednesday, July 25, 2012
http://www.bloomberg.com/news/2012-0...ed-by-berna...

WASHINGTON -- The U.S. House of Representatives today approved legislation that would subject the Federal Reserve to an audit of monetary policy, including deliberations over changes to the benchmark interest rate.

The legislation, directing the Government Accountability Office to conduct the audit, is sponsored by Rep. Ron Paul of Texas, a candidate for the Republican presidential nomination in 2008 and 2012 and author of "End the Fed."


Fed Chairman Ben S. Bernanke has repeatedly said the legislation would open up Fed policy-making to political pressure and put the central bank's independence at risk. The bill, which passed 327-98, needs to gain Senate approval and the signature of President Barack Obama before becoming law.

House passage will create "the perception that Congress is going to politicize the way interest rates are set and that will in itself have a destabilizing effect," Rep. Barney Frank of Massachusetts said yesterday during floor debate. He is the senior Democrat on the House Financial Services Committee.
... Dispatch continues below ...

http://www.nysun.com/editorials/ron-...triumph/87913/

Congratulations are in order for Congressman Ron Paul, whose long campaign for a full audit of the Federal Reserve has finally passed the House in what the Washington Times, in a dispatch linked on the Drudge Report, calls “a move that serves as a capstone” to the Texan’s career.

The measure didn’t just pass the House. It was approved by a bi-partisan vote of 327 to 98, sending the bill to the Senate in which the majority leader, Harry Reid, supports an audit, at least in theory. Yet the Wall Street Journal reports that there are no plans, at least at the moment, to bring up the measure in the Senate.

The lesson of this saga is to redouble the drive for an audit. No one could imagine, when Dr. Paul began his quest for a decade ago, that the measure would pass the House with the kind of bi-partisan support it garnered today. A while back a kind of faux audit was passed, but it was so watered down that Dr. Paul was against it. The measure that passed today is a much tougher audit, one of the kind Dr. Paul has been seeking. The more the Democrats resist, more the need for an audit will come into focus, particularly at a time when more and more people are starting to come to grips with the possibility that errors of monetary policy are at the at the root of the Great Recession.

Chairman Bernanke has been digging himself in more and more against an audit. Were he the chief executive of a publicly held company, his shareholders would stand aghast at his recalcitrance and start asking why. Yet as recently as this week Mr. Bernanke told the Congress that an audit of the kind Congress is looking for — it could get into, among other things, the closed-door meetings at which Fed policy is made — risks a “nightmare scenario” that opens the Fed to meddling in monetary policy. “That will politicize the making of such policy, and I think it’s a bad way to go,” Reuters quoted the number two Democrat in the House, Steny Hoyer, as warning.

In fact, the politicization of the Fed has long since happened, and it was not the drive for transparency that did it. The politicization came with the era of fiat money, an era in which Congress stopped defining the dollar in terms of gold or any other specie. Congress threw up its hands and left matters to the Fed, interrupting only to require the Fed to work not only for stable prices but also for maximum employment. No less a figure than Secretary Geithner has been warning against politicizing the Fed, but, as these columns pointed out nearly two years ago in “How To Depoliticize the Fed,” the only proven way to take politics out of monetary policy is to restore a classical gold standard.

So we welcome the showdown that’s ahead. What is shaping up is a historic opportunity for the Congress to open up the question of the Fed, the whole question of the dollar, on the eve of the centenary of a central bank on whose watch the dollar has lost nearly all of its value. The audit isn’t the only process through which Congress is starting to assert its monetary powers in the Constitution. Congressman Kevin Brady has a bill, the Sound Dollar Act, that would, among other things, repeal the misguided Humphrey Hawkins Act, which requires the Fed to conduct monetary policy with an eye to employment and return it to a goal of price stability. Congressman Paul himself is pressing the Free Competition in Currencies Act, which would end legal tender and permit the introduction of privately issued money. Auditing the Fed, though, is the right place to start, so the Congress and the voters can get a true picture of where we stand at the end of a century in which the Fed had its way.

I see what you mean. Meanwhile, do u still have some long position from 1.2060 area still open? I anticipated nice retracement of yesterday's up move and continuation of the decent up move today or tomorrow. Only time will tell. However, those who have taken new short position will run into green pips today and they will cover up there position fast fast while allowing there nice position from top to continue running.

I still believe we are going to see a nice rally up (like 200-300) for good opportunity for fresh short. I have a nice divergence on daily chart already so time will tell. GL and green pips to all.

Yep, I see that also, bull. dvg. on Daily. Lets see now if this have any power to acctually go up, for a nice healthy correction. That would require a big rabbit from the hat, but you never know.

IMO, R levels: 2160/2180, round number 2200, then nothing much until 2300/2320. Would love to see 2440 again, but Mr. Market doesnt give a shit what would I like to see.

S levels: First one to crack 2050, then 1.20. (It took 4-5 tryes to break 1.30.)
Here is a chart:

hi bud, how are you.its just gone 07-30 here in uk.i woke up as something got me thinking.i am going to try a few different trades going off a simple chart. i will let you know what happens. take care

Good morning everyone,

What an awesome short covering rally we had yesterday. If was like a fireworks display that went off all at once. The intro, the main show and the grande finale all in one go. Price shot up 120 pips almost in one go and then fizzled out into a range for the rest of the day. No major retrace and no follow through either. So, do we get either one of those today? The chances of more up or further down are now pretty much a coin toss. Which way it goes will depend mostly on how the sentiment changes based on any news that may be released today... or what the boys in the ivory towers decide to do. There is certainly more room on the upside than the downside, but why anybody would support the Euro right now is beyond me. Risk is a dirty word right now but greed is a funny thing.

From a technical perspective, I see more upside correction. Yesterday we got a daily bullish engulf and managed to close the weekend "gap". However, even that much of a move north has failed to show a decent correction on the daily chart as we have not even reached the 8 day smma yet which comes in at 1.2212 area right now. Also, the 61.8% fibo of the move down from last week's high (1.2323 - 1.2041) comes in at 1.2215 on the dot. Another argument for more upside correction is a possible slightly malformed inverse H/S pattern forming on H1/H4. If that pattern plays out to its full potential, we could see 1.2300... All this points north, yet on my H4 chart, the MacD indicator is screaming Bearish Hidden Divergence. Hmmm

So, seeing as we currently have no immediate catalyst for more down and we have technical indicators mostly pointing north, it seems that I may have overzealously jumped the gun a bit with my short at 1.2140... at least it seems that way. However, for me, no matter what it seems like, I'm still very comfortable with my trades because as most of you should already know, I am a position trader and not a scalper or intraday player. To me that short at 1.2140 is insurance that if/when, the Euro makes another sudden move to the downside, I'm already covered. If it does make it up as high as 1.2210 or even 1.2300 area, that just gives me more chances to bring out my bigger hammer.

Good luck today folks. It's gonna be an interesting day watching the Euro go higher until some bite of reality hits the news wire and send this pair tumbling again.

E/U H1


E/U H4


E/U Daily


E/U Monthly

Euro FX option expiries for today @ 14:00 GMT

1.1950
1.2010
1.2050
1.2060
1.2100
1.2110
1.2140
1.2170
1.2180
1.2200

Thanks PT for your quality morning update

Looking a little closer, the pull back yesterday afternoon held at ~50% of the day's range and overnight, a Higher low at the 38% / daily pivot level.

Signor Dragi speaks in 2 1/2 hours, so I guess that we have to wait and see if that gives an excuse to make another push.....either way....http://www.forexfactory.com/images/icons/icon11.gif

IMO it will need something unexpected to kick it thru all of this resistance....

Edit: I should have mentioned the mid FH retest of the bottom of the resistance zone - actually a Lower High....

Good morning buddy.... Thanks for the closer look at the micro situation. That resistance holding the pair down is the neckline of the inverse H/S I mentioned in my morning update. If it breaks today or tomorrow, then we may in fact have a shot at the 1.2300 area. Of course it would be beyond my understanding why the Euro would climb even half way there, but the market does have a tendency to be irrational at times