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  • #682,721
  • Aug 22, 2012 3:32am Aug 22, 2012 3:32am
Quoting NewbTrader7
anyone else think she's about to go higher? maybe a fakeout?
Hopefully 3:00am move south was a fakeout.

I'm currently long GBP/USD, instead of EUR/USD, but they should move together.
  • #682,722
  • Aug 22, 2012 3:40am Aug 22, 2012 3:40am
shorting the euro is not such a wise move, going long at this time is safe but not smart.
  • #682,723
  • Aug 22, 2012 3:42am Aug 22, 2012 3:42am
Quoting kibescorp
Hopefully 3:00am move south was a fakeout.

I'm currently long GBP/USD, instead of EUR/USD, but they should move together.
Still long from yesterday on both.

Cable has a huge 1.5800 zone. if that holds support a move to 5900.

EU yesterdays daily high is key at 1.2487 and ofcourse today high at 2477.
  • #682,724
  • Aug 22, 2012 3:47am Aug 22, 2012 3:47am
market's PA different to yesterday. MOVE and break. Only few biggies in it. 25 is the aim... to less news again. Could be boring day again with snipers waitin' for you...i trade cautios as usual
  • #682,725
  • Aug 22, 2012 3:59am Aug 22, 2012 3:59am
Quoting Emilpl
Morning all

I am still in my 2 shorts @ 1.2478 and 1.2466

time to worry about positions 1.2440 (maybe covering)
tp 1.2380
Closed, just 11 pips;/

Dont know what to do now...
  • #682,726
  • Aug 22, 2012 4:01am Aug 22, 2012 4:01am
yesterday's move was a nice short squeeze. People worried ahead of Greece Meetings end of this week.

Tonite, i expect it to fall down. FOMC minutes will likely show that no QE3 is on the table...
Adding another bullet for a retracement of yesterday's skyrocketing PA.

just IMHO
  • #682,727
  • Aug 22, 2012 4:10am Aug 22, 2012 4:10am
FOMC statement is near...maybe no huge move before FOMC statement...

August is going to end...

Sep is gonna be important...

12 Sep we will see
Netherlands election
German Constitutional Court make decision on ESM
and...maybe new iPhone...

also rumors saying we will see QE3 in Sep...
Patience, Emotion Control and Discipline.
  • #682,728
  • Aug 22, 2012 4:12am Aug 22, 2012 4:12am
Quoting johncen
also rumors saying we will see QE3 in Sep...
If that's the rumour, then it stands to reason the market would start pricing it in now.
  • #682,729
  • Aug 22, 2012 4:16am Aug 22, 2012 4:16am
Quoting paulonyx
shorting the euro is not such a wise move, going long at this time is safe but not smart.
I agree.

However there are offers 2480/00 buy stops above 2510

and sell stops below 1.2440

I would only say the short is risky because of PA. Perfect bull flag on the H4 chart. Normally it would be a good short opportunity though.

It still might be but I'll let PA at the big offers show me the way
Be hopeful in a winning position, and fearful in a losing position.
  • #682,730
  • Aug 22, 2012 4:16am Aug 22, 2012 4:16am
Quoting kibescorp
If that's the rumour, then it stands to reason the market would start pricing it in now.
I have see such expectation since June I think...
but I think we won't see that until end of the year...
QE3 should be the last option..

by the way..I doubt the effectiveness to the economy...statistics show the effectiveness is getting lower from QE1 to QE2...

I think market already pricing in...
look at the stock market...
Patience, Emotion Control and Discipline.
  • #682,731
  • Aug 22, 2012 4:20am Aug 22, 2012 4:20am
Quoting johncen
I have see such expectation since June I think...
but I think we won't see that until end of the year...
QE3 should be the last option..

by the way..I doubt the effectiveness to the economy...statistics show the effectiveness is getting lower from QE1 to QE2...

I think market already pricing in...
look at the stock market...
Yes and every $1 of debt since year 2000 has only added $0.08 of GDP. In the 1950s every $1 of debt added $4.50 of GDP. Diminishing returns and they are getting very bad, completely unsustainable
Be hopeful in a winning position, and fearful in a losing position.
  • #682,732
  • Aug 22, 2012 4:23am Aug 22, 2012 4:23am
volatility goes to zero... some thin longs...hardcore, just closed +1 pip...4th time's position...and again...
  • #682,733
  • Aug 22, 2012 4:26am Aug 22, 2012 4:26am
Quoting Rag2RichesFX
Yes and every $1 of debt since year 2000 has only added $0.08 of GDP. In the 1950s every $1 of debt added $4.50 of GDP. Diminishing returns and they are getting very bad, completely unsustainable
thanks for sharing

yes...now everyone seems to be very exciting about further easing...from Fed ECB and also China.. but who will get the benefits?
maybe people holding gold....
Patience, Emotion Control and Discipline.
  • #682,734
  • Aug 22, 2012 4:26am Aug 22, 2012 4:26am


If current hourly close do not bring anything meaningful, likely no trades for me before US open.
They think they are smarter than I am.
  • #682,735
  • Aug 22, 2012 4:30am Aug 22, 2012 4:30am
Quoting Z3iz3i


If current hourly close do not bring anything meaningful, likely no trades for me before US open.
Hi Z3iz3i, same to me. It's stressfull these days to trade. Yesterday was like working 14 hours, today may be 4... (just the feeling).

Problem is that I have to take everything on a stressfull day to balance such damn days like today again... profit very thin till now. No good R:R.
  • #682,736
  • Aug 22, 2012 4:36am Aug 22, 2012 4:36am
no QE3 likely
http://blogs.wsj.com/economics/2012/...t-a-done-deal/
  • #682,737
  • Aug 22, 2012 5:10am Aug 22, 2012 5:10am
an inverse head and shoulder pattern seems to be emerging on the 1 hour.
http://img.photobucket.com/albums/v6...2at30825AM.png
  • #682,738
  • Aug 22, 2012 5:12am Aug 22, 2012 5:12am
bulls seems defending every line of support, including the very minor ones as we can see the PA is going down but by steps
  • #682,739
  • Aug 22, 2012 5:13am Aug 22, 2012 5:13am
Currently waiting for the EU to break on a 1hr chart to head up
Attached Image
  • #682,740
  • Aug 22, 2012 5:15am Aug 22, 2012 5:15am
Quoting NewbTrader7
an inverse head and shoulder pattern seems to be emerging on the 1 hour.
http://img.photobucket.com/albums/v6...2at30825AM.png
seems not to me, especially with such a low range for the past hours.
i believe the PA is directionless for now. But it seem London wont take it higher for now, even though we are well in the morning there

1h RSI shows a way down
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