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  • #941
  • Jul 26, 2012 6:22am Jul 26, 2012 6:22am
Short from 70 very tight stop TP @2240
swing it!
  • #942
  • Jul 26, 2012 6:27am Jul 26, 2012 6:27am
Quoting tomspin
Short from 70 very tight stop TP @2240
And gold from 1616
swing it!
  • #943
  • Jul 26, 2012 6:29am Jul 26, 2012 6:29am
Quoting tomspin
Short from 70 very tight stop TP @2240

nice - need that tight stop though

Already hit twice my weekly target this week so taking the afternoon off, hopefully get in after the pull back before I do
  • #944
  • Jul 26, 2012 6:30am Jul 26, 2012 6:30am
Quoting MaxDoom
nice - need that tight stop though

Already hit twice my weekly target this week so taking the afternoon off, hopefully get in after the pull back before I do
wise decision Max have a good one
swing it!
  • #945
  • Jul 26, 2012 6:35am Jul 26, 2012 6:35am
I am flat now Stoped out with green pennies. I don't wanna give those gains back. And I think untill 2320 we are in no mans land right now.
swing it!
  • #946
  • Edited 6:37am Jul 26, 2012 6:36am | Edited 6:37am
The by now familiar S&P500 chart --- We bounced off the channel bottom as well....

Gonna be very interested to see if cash equities in US can close back inside that channel.... or price gets rejected at the channel on a daily closing basis.

I am also waiting for Schauble or some other German hawk to come out and say that Draghi's comments go beyond the scope of the ECB mandate.... That could make a nice swing down --
Attached Image (click to enlarge)
Click to Enlarge Name: S&PChannel.png Size: 12 KB
  • #947
  • Jul 26, 2012 6:38am Jul 26, 2012 6:38am
Blimey,went out on me bike for a while and come back to this,
100 pip ramp up,leaving it alone i think,
can't quite read this,nice going on the longs guys.
You can remain irrational longer than you can remain solvent.
  • #948
  • Jul 26, 2012 6:40am Jul 26, 2012 6:40am
Quoting Crassius
The by now familiar S&P500 chart --- We bounced off the channel bottom as well....

Gonna be very interested to see if cash equities in US can close back inside that channel.... or price gets rejected at the channel on a daily closing basis.

I am also waiting for Schauble or some other German hawk to come out and say that Draghi's comments go beyond the scope of the ECB mandate.... That could make a nice swing down --
LOL happend so many times before that it is probably most likely scenario
swing it!
  • #949
  • Jul 26, 2012 6:56am Jul 26, 2012 6:56am
there could be another crazy leg up if unemployment claims comes up in red add Draghi's declaration to that mixed with QE expectations and you have a perfect bullish session.
swing it!
  • #950
  • Jul 26, 2012 7:01am Jul 26, 2012 7:01am
Quoting tomspin
there could be another crazy leg up if unemployment claims comes up in red add Draghi's declaration to that mixed with QE expectations and you have a perfect bullish session.

Yes -- we can't have bullish action because business is good and the profits are rolling in ---

These days we only get bullish action when the world is on the fast track to hell -- and the central bankers are stepping in the "save the day". WE ARE DOWN THE RABBIT HOLE.
Attached Image
  • #951
  • Jul 26, 2012 7:05am Jul 26, 2012 7:05am
Quoting tomspin
there could be another crazy leg up if unemployment claims comes up in red add Draghi's declaration to that mixed with QE expectations and you have a perfect bullish session.
That's exactly what I'm looking at right here, in my books. Booked 40 pips in profit from the ride up (currently at work, so noticed it too late).

Might have a continuation upwards, will long right before the news with a 15 pips SL, just for the fun of it.
Please, just slap me around if I'm being silly ...
  • #952
  • Jul 26, 2012 7:07am Jul 26, 2012 7:07am
Quoting Crassius
Yes -- we can't have bullish action because business is good and the profits are rolling in ---

These days we only get bullish action when the world is on the fast track to hell -- and the central bankers are stepping in the "save the day". WE ARE DOWN THE RABBIT HOLE.
I think this picture is the best description of QE
swing it!
  • #953
  • Jul 26, 2012 7:10am Jul 26, 2012 7:10am
Quoting daemon_delux
That's exactly what I'm looking at right here, in my books. Booked 40 pips in profit from the ride up (currently at work, so noticed it too late).

Might have a continuation upwards, will long right before the news with a 15 pips SL, just for the fun of it.
Good to see you back Daemon I assume work keeping you busy these days, watch out for 2310/20 quite important barrier, I am standing aside for now, don't want to take unneccessary risk.
swing it!
  • #954
  • Jul 26, 2012 7:17am Jul 26, 2012 7:17am
Looking at candles right now M30 I would say bears are ready for their revenge, however I still see potential for bulls. 13 minutes to go
swing it!
  • #955
  • Jul 26, 2012 7:19am Jul 26, 2012 7:19am
Quoting Crassius
The by now familiar S&P500 chart --- We bounced off the channel bottom as well....

Gonna be very interested to see if cash equities in US can close back inside that channel.... or price gets rejected at the channel on a daily closing basis.

I am also waiting for Schauble or some other German hawk to come out and say that Draghi's comments go beyond the scope of the ECB mandate.... That could make a nice swing down --
i have lines drawn a bit differently with 2 intersecting channels;

one channel more or less in an UT between the 200 DMA and the 100 above with price making HHs and HLs within it

the other channel in a DT from the 03/30 and 04/30 highs.the lower line drawn from 04/11 through 05/08

the Hilsenrath plant from the other day was no coincidence imo, and with Draghi taking the pressure off this morning in Europe i also expect NY to support

it all kind of sets the stage for the all-in next week with the FOMC, ECB, BOE and NFP

200 DMA i see as CRITICAL support for the ES........setup looks very similar to last august when it broke and no doubt policy makers are very aware of the long way down

great thread you have here
  • #956
  • Jul 26, 2012 7:28am Jul 26, 2012 7:28am
Quoting roro53
i have lines drawn a bit differently with 2 intersecting channels;

one channel more or less in an UT between the 200 DMA and the 100 above with price making HHs and HLs within it

the other channel in a DT from the 03/30 and 04/30 highs.the lower line drawn from 04/11 through 05/08

the Hilsenrath plant from the other day was no coincidence imo, and with Draghi taking the pressure off this morning in Europe i also expect NY to support

it all kind of sets the stage for the all-in next week with the FOMC, ECB, BOE and NFP

200 DMA i see as CRITICAL...
Hey Roro
I see sp struggling under 1350,45 if breached I would place next line at 1361,23 with 1359,40 as well, If risk on continues 1375 shouldn't be a problem - depends on FOMC of course, but looking at Draghi's declaration and last to daily candles they will not be commited to QE, why would they at this point. I still think We should drop below 1300 for FED to take action
swing it!
  • #957
  • Jul 26, 2012 7:36am Jul 26, 2012 7:36am
Quoting tomspin
Hey Roro
I see sp struggling under 1350,45 if breached I would place next line at 1361,23 with 1359,40 as well, If risk on continues 1375 shouldn't be a problem - depends on FOMC of course, but looking at Draghi's declaration and last to daily candles they will not be commited to QE, why would they at this point. I still think We should drop below 1300 for FED to take action
Not necessarily below 1300, imho 1325 would be enough. Opened my long 5 mins ago, and yes, very busy at work. Still not a full time trader, so I have to put bread on the table.

ATM we're looking at a inverted h&s in EU, and my charts show important R zone at 1.2315ish (like tom suggested). However, unemployment data seems very good. We'll see what and when. :d
Please, just slap me around if I'm being silly ...
  • #958
  • Jul 26, 2012 7:38am Jul 26, 2012 7:38am
Quoting tomspin
there could be another crazy leg up if unemployment claims comes up in red add Draghi's declaration to that mixed with QE expectations and you have a perfect bullish session.
pretty much, now lets see what lower 23's will do
swing it!
  • #959
  • Jul 26, 2012 7:38am Jul 26, 2012 7:38am
Well, now SL on BE with TP on 40, what goes, goes.

Have a great one, guys. Green pips.
Please, just slap me around if I'm being silly ...
  • #960
  • Jul 26, 2012 7:44am Jul 26, 2012 7:44am
Bloomberg reported that even if unemloyment claims reduced, this move is driven by core durable goods order reduction, and let's face it unemployment claims is a fake indicator - those reductions don't mean that job market is improving.
I am holding swissy from 0,9774 and leave it for now
swing it!
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