“Don't cry because it's over, smile because it happened.â€
its ok mate I kill them all the time..................... 
LOL
http://i0.kym-cdn.com/photos/images/...0/godkills.jpg
LOLhttp://i0.kym-cdn.com/photos/images/...0/godkills.jpg
Well I guess I got my answer. 1.2440 is now the key level. Let's see if it holds. There should be plenty of sellers there but a good hopium run would only be temporarily slowed before this sucker heads up to 1.2480/1.2505 area.
Anyway. No sense staying up all night. I'm heading for a snooze.
Good night all.
ADD: I just realized I killed another kitten with that hopium word. Oops I said it again. That's two kittens now. Oh well... too late now
"Millionaires don't use astrology, billionaires do"
its ok bro they get their own back... 
http://i1.kym-cdn.com/photos/images/.../002/642/A.jpg
http://i1.kym-cdn.com/photos/images/.../002/642/A.jpg
Enough with the kitten killings! I'm a cat lover! Mine is waiting for you...
"Millionaires don't use astrology, billionaires do"
- #46,105
- Aug 5, 2012 8:59pm Aug 5, 2012 8:59pm
- | Joined Nov 2011 | Status: Trader | 2,104 Posts
awww sorry bro I just posted something too.....
Looks like 1.2440 has held up so far, I'll find out if London respects it when I get up in a few hours...
G'Night all.
PS: No more kitten killing tonight, please.
I observe your reality but live my own. 
- #46,106
- Aug 5, 2012 9:16pm Aug 5, 2012 9:16pm
Hi guys, don't know why people are getting so worked up about Currencyman 
The way I see it, the information is there - take it or leave it.
Here is what I see: A bear flag inside a downtrend on EU, that supply at 1.2507 has been on my radar for a while, worth a shot for me.
This aligns with what I see as a major decision point for AUD (as well as Gold) in it's symmetrical triangle.
The way I see it, the information is there - take it or leave it.Here is what I see: A bear flag inside a downtrend on EU, that supply at 1.2507 has been on my radar for a while, worth a shot for me.
This aligns with what I see as a major decision point for AUD (as well as Gold) in it's symmetrical triangle.
"Don't Panic..."
- #46,107
- Aug 5, 2012 9:38pm Aug 5, 2012 9:38pm
- | Joined Nov 2011 | Status: AL -a reVerse psyChology | 265 Posts
hey guys just wanted to drop in and share a bit:
I just heard presidential candidate Mitt Romney say that a fresh round of monetary stimulus from the Federal Reserve would not help the fragile U.S. economy. he has long been a proponent of a strong US dollar and after the elections should Romney get elected the Fed will face much political pressure to maintain a strong USD policy.
The rising unemployment is hurting the incumbent badly and Romney will go all out to attack that very crucial aspect of the his opponents policies since for years...
Good analysis.
- #46,111
- Aug 5, 2012 11:33pm Aug 5, 2012 11:33pm
probably not from the actual speech itself but if theres a Q&A session afterwards sometimes the right words will cause volatility although i'm not sure if all the hopium addicts are still feigning
i dont know about monday but i think the tuesday speech has a Q&A
Life is beautiful the way you dress it.
- #46,112
- Aug 5, 2012 11:45pm Aug 5, 2012 11:45pm
it's posted on the forex factory calendar as "Fed Chairman Bernanke Speaks"
http://www.forexfactory.com/calendar.php
probably easier for you to look at that and have the time show up as your local time, save you the trouble of converting
http://www.forexfactory.com/calendar.php
probably easier for you to look at that and have the time show up as your local time, save you the trouble of converting
- #46,118
- Aug 6, 2012 1:46am Aug 6, 2012 1:46am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
Good Morning MaxDoom
The better question is how are you which might have something to do with forex. Having a calm balanced view helps in trading. I have never seen your posts so I am interested in your views on Forex. Are we heading up or down on EUR/USD. If I was posting as FXMindset my friend I would ask you to post a chart. Since I am posting as CM I do not need a chart from you. I went to bed about 9:00 PM EST so I had my 5 hours sleep and I am up for the Europe open.
I see the Futures are up in Europe and the Troika has left Greece and...
as you ask my current view is below. You should understand that my trading is based around trends and corrections off the latest swing data.
As always the price can go up or down
but:Daily: we hust nudged upto the target zone for a correction of the downtrend from 1.274x to 1.204x. The target zone runs from 1.245x to 1.254x and 1.248x is the hot spot.
The move up on Friday was brutal and saw no relief even at the end of the session which means some correction to that move is due be it now or after a dip further into that target zone.
I have taken an initial short for the correction but if the PA goes against it I will look to for upside to the target zone, before considering further shorts.
- #46,120
- Aug 6, 2012 1:53am Aug 6, 2012 1:53am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Good Morning everyone
I hope you all had a wonderful weekend. I got some much needed rest and relaxation and some great physical exercise. If you're like me (in front of the computer for long stretches at a time), I highly recommend a good regiment of physical work on a daily basis. It helps not only control stress levels but also triggers the release of endorphin... a "feel good" group of chemicals produced by our own body. This sense of well being is very important in trading as a lack of it allows negative energy to dominate our thoughts which can cause us to make stupid trading decisions and hand our hard earned cash over to the big boys on a silver platter.
So why all this talk about endorphin production? Well it's quite simply the only explanation I can come up with for this hopium run. It's quite obvious to me that fund managers are not getting enough exercise. They are frustrated that they have been unable to place the funds they manage in anything that can produce a decent return... and now they are starting to grasp at straws. The speculation that the ECB is going to perform miracles and/or that the US jobs report is a sign of much better days to come are unrealistically high. Let me elaborate a bit here...
European nations are in debt. Not just the periphery nations. Even Germany is carrying a debt to GDP ration which is way over the 60% maximum allowable. I believe it is somewhere in the 85% area (give or take a few percentage points). In fact it is even higher that Spain's ratio which is around 72%. Anyway, the problem here is that Europe is going into a recession, an insolvency problem and a banking crisis all at the same time. The only way to effectively deal with such a situation ism to clear the books and start fresh. Let's have the bank failures and the sovereign defaults. Let throw out the trash and start with a clean slate. Sweeping the dust under the carpet only buys time. Time for what? Time till the next elections probably. In a nutshell, you cannot eliminate debt by moving it around.
The US jobs number was much higher than expected at 163K versus 101K. The market rejoiced on that number. However, the unemployment rate increased by 0.1% and the average hourly earnings only increased by 0.1% as opposed to the 0.2% expected and the 0.3% last month when the jobs number was worse. The ISM report later on Friday showed a decrease in manufacturing jobs and further study has revealed that about 60K or so of those jobs created were part time low pay "one-off" student summer jobs. Certainly nothing to celebrate.
I am not sure how long this hopium run will continue, but obviously it is against all known fundamentals. Perhaps some super whiz economist can come up with a spin as to why this is happening and how it will continue, but I haven't heard or read about one yet. Perhaps you who is reading this right now have some explanation for this. If so, please do tell. Until then, I'm relying on my argument of lack of endorphin production.
Technically, my view is that we are still in a consolidating indecision range which spans from the high at 1.2440 (the H4 inverse H/S neckline) to the low of 1.2170. If price manages to break above 1.2440 area on a daily candle close basis, they we may very well be testing the 1.27xx area in short order, as long as the pattern does not fail along the way.
So, how about we organize a physical exercise day for all traders and fund managers across the world. We'll call is endorphin day
Best of luck with your trading today. I will be patiently awaiting reality to hit so that my underwater shorts can turn green again. My BE point is way up in the 1.32xx area so I've got plenty of breathing room. That's the benefit of very low leverage positions and patiently/fearlessly scaling in at key levels.
E/U Daily
I hope you all had a wonderful weekend. I got some much needed rest and relaxation and some great physical exercise. If you're like me (in front of the computer for long stretches at a time), I highly recommend a good regiment of physical work on a daily basis. It helps not only control stress levels but also triggers the release of endorphin... a "feel good" group of chemicals produced by our own body. This sense of well being is very important in trading as a lack of it allows negative energy to dominate our thoughts which can cause us to make stupid trading decisions and hand our hard earned cash over to the big boys on a silver platter.
So why all this talk about endorphin production? Well it's quite simply the only explanation I can come up with for this hopium run. It's quite obvious to me that fund managers are not getting enough exercise. They are frustrated that they have been unable to place the funds they manage in anything that can produce a decent return... and now they are starting to grasp at straws. The speculation that the ECB is going to perform miracles and/or that the US jobs report is a sign of much better days to come are unrealistically high. Let me elaborate a bit here...
European nations are in debt. Not just the periphery nations. Even Germany is carrying a debt to GDP ration which is way over the 60% maximum allowable. I believe it is somewhere in the 85% area (give or take a few percentage points). In fact it is even higher that Spain's ratio which is around 72%. Anyway, the problem here is that Europe is going into a recession, an insolvency problem and a banking crisis all at the same time. The only way to effectively deal with such a situation ism to clear the books and start fresh. Let's have the bank failures and the sovereign defaults. Let throw out the trash and start with a clean slate. Sweeping the dust under the carpet only buys time. Time for what? Time till the next elections probably. In a nutshell, you cannot eliminate debt by moving it around.
The US jobs number was much higher than expected at 163K versus 101K. The market rejoiced on that number. However, the unemployment rate increased by 0.1% and the average hourly earnings only increased by 0.1% as opposed to the 0.2% expected and the 0.3% last month when the jobs number was worse. The ISM report later on Friday showed a decrease in manufacturing jobs and further study has revealed that about 60K or so of those jobs created were part time low pay "one-off" student summer jobs. Certainly nothing to celebrate.
I am not sure how long this hopium run will continue, but obviously it is against all known fundamentals. Perhaps some super whiz economist can come up with a spin as to why this is happening and how it will continue, but I haven't heard or read about one yet. Perhaps you who is reading this right now have some explanation for this. If so, please do tell. Until then, I'm relying on my argument of lack of endorphin production.
Technically, my view is that we are still in a consolidating indecision range which spans from the high at 1.2440 (the H4 inverse H/S neckline) to the low of 1.2170. If price manages to break above 1.2440 area on a daily candle close basis, they we may very well be testing the 1.27xx area in short order, as long as the pattern does not fail along the way.
So, how about we organize a physical exercise day for all traders and fund managers across the world. We'll call is endorphin day
Best of luck with your trading today. I will be patiently awaiting reality to hit so that my underwater shorts can turn green again. My BE point is way up in the 1.32xx area so I've got plenty of breathing room. That's the benefit of very low leverage positions and patiently/fearlessly scaling in at key levels.
E/U Daily
Those who say it cannot be done should not interrupt those who are doing it