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  • #675,161
  • Aug 3, 2012 9:47am Aug 3, 2012 9:47am
Quoting KillerWhale
Just wondering about all those people who say "August is the most boring month in forex because everyone is on vacation" ??????????????????

I thought it was during the Summer time in general. Guess time for me to go back to school in late August.. ha ha ha just kidding.
Luck has no place in trading. Leave that for the poker table.
  • #675,162
  • Aug 3, 2012 9:47am Aug 3, 2012 9:47am
Quoting 5percent
seems the bull has taken over for tonight.
London close in 45 mins , & London fix 15 M it could be short covering . not comfortable to take trade
Mohan
  • #675,163
  • Aug 3, 2012 9:48am Aug 3, 2012 9:48am
The rumour mills says the banks got requests from EFSF for additional credit lines for leverage. Looks like they're getting ready for bond purchases so speculation is that the banks bought a few bonds today to try and frontrun the EFSF.

I was pretty confused this morning about this sudden rally and now I know why.

Even with good non farm data dollar is still tanking to due risk appetite with jpy getting creamed.

Guess Draghi might be right about shorting euros after all omg.
  • #675,164
  • Aug 3, 2012 9:51am Aug 3, 2012 9:51am
This is why I hate & love the holiday season. Hedge funds can manipulate the price so easily. They need much less money to cause this. Crazy move but no surprise. Just save my short @1.2250 that's all I need for now
  • #675,165
  • Aug 3, 2012 10:03am Aug 3, 2012 10:03am
Any of you big dogs getting resistance at 1.23570?
Luck has no place in trading. Leave that for the poker table.
  • #675,166
  • Aug 3, 2012 10:03am Aug 3, 2012 10:03am
Quoting mohan76
London close in 45 mins , & London fix 15 M it could be short covering . not comfortable to take trade

Yes. And stair-stepping (bear-trapping) price action to boot.

Not a hint of anything bad anywhere in the financial news (EU-negative news black-out today...).

Lots of faders think they have a chance to make a quick buck, so price will just keep grinding higher as it takes them to the short-covering cleaners.
  • #675,167
  • Aug 3, 2012 10:08am Aug 3, 2012 10:08am
demand demand demand....

this is not short covering
slow but pure demand

this kind of demand looks deeper in the future not just a few hours or for next week... i wonder what it could be..
'You must be the change you wish to see in the world' . Gandhi
  • #675,168
  • Aug 3, 2012 10:12am Aug 3, 2012 10:12am
Quoting phxmike
demand demand demand....

this is not short covering
slow but pure demand

this kind of demand looks deeper in the future not just a few hours or for next week... i wonder what it could be..
Are you still happy about your action against Atilla?
You MORON
New voice message: Why are you calling me? If I need you, I'll call you!
  • #675,169
  • Aug 3, 2012 10:15am Aug 3, 2012 10:15am
Quoting BlueGas
Thats what i do
I'm getting out,more then enough for me and for friday,I think it will go higher,but but,I have to go outside for a beer,cya all on Monday,trade safe
  • #675,170
  • Aug 3, 2012 10:17am Aug 3, 2012 10:17am
cool... above 50.. longs are closed turning immediately short...
after all this is friday and long is already going since asia session
i expect some down movement because of profit taking and weekend jumpers


but after that.. this looks a promising long setup for the next week.

if shorts are failing then i will watch from the side only
'You must be the change you wish to see in the world' . Gandhi
  • #675,171
  • Aug 3, 2012 10:18am Aug 3, 2012 10:18am
This wave will not end before hitting the 23900 ...
"It's the Margin, Stupid."
  • #675,172
  • Aug 3, 2012 10:18am Aug 3, 2012 10:18am
...
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  • #675,173
  • Aug 3, 2012 10:18am Aug 3, 2012 10:18am
Wow stopped at my resistance of 1.23570 to the pip, then kept trucking. And to think I put that number on my charts like a month ago. If it keeps going next number that I got is... 1.23890...looks like it is almost half way there. Fun to watch.. But I am a newbie, so I need some imput from you alpha dogs.
Luck has no place in trading. Leave that for the poker table.
  • #675,174
  • Aug 3, 2012 10:20am Aug 3, 2012 10:20am
If bull keep going without a decent retracement bear will give access 1.24 but it will create strong resistance above 1.24 somewhere where bull will be weak because bullish target is 1.24 break.
Bull have to calm here for a retracement.
You cannot learn better without losing
  • #675,175
  • Aug 3, 2012 10:21am Aug 3, 2012 10:21am
why is it going up so crazily?
  • #675,176
  • Aug 3, 2012 10:24am Aug 3, 2012 10:24am
Quoting divak
why is it going up so crazily?

Draghi is playing
  • #675,177
  • Aug 3, 2012 10:24am Aug 3, 2012 10:24am
Quoting divak
why is it going up so crazily?
Because its the path of less resistance
"It's the Margin, Stupid."
  • #675,178
  • Aug 3, 2012 10:25am Aug 3, 2012 10:25am
Quoting RWalker
Yes. And stair-stepping (bear-trapping) price action to boot.

Not a hint of anything bad anywhere in the financial news (EU-negative news black-out today...).

Lots of faders think they have a chance to make a quick buck, so price will just keep grinding higher as it takes them to the short-covering cleaners.
Quoting divak
why is it going up so crazily?

Dinner now in larder. Expect price to stay well above 2312 past weekend while shorts "cook-off" (ouch...ouch...ouch!!) The quick bear faders have been trapped.
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They really like doing this on a Friday!

The price won't return to earth today... they're making too much money.
  • #675,179
  • Aug 3, 2012 10:27am Aug 3, 2012 10:27am
Quoting MaxDoom
short EU 1.2236 AU 1.0499
it's more 100 pips above..
  • #675,180
  • Aug 3, 2012 10:27am Aug 3, 2012 10:27am
Will it eventually get to the upper white line?


Would be something.....
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