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  • #683,661
  • Aug 23, 2012 11:21am Aug 23, 2012 11:21am
Quoting StopGuessing
The r1 1.2573 HAS BEEN a rock solid support since we have last broken it. Consider another pop up for the scalpers.

This crap is really trying my patience, for a few weeks.

Same waiting and waiting, getting enough meat in front and then through we go to opposite direction.
Some shorters need to come along, then pop-up to get stops and hit vertical turbulence upwards ...wheee, nice air-poocket that one.
They think they are smarter than I am.
  • #683,662
  • Aug 23, 2012 11:21am Aug 23, 2012 11:21am
interesting : http://www.forexlive.com/blog/2012/0...or-make-money/
  • #683,663
  • Aug 23, 2012 11:24am Aug 23, 2012 11:24am
Quoting todstars2
traders swinging large lines are painting the tape(advertising by buying small lots) increasing prices to encourage retail traders to jump on board for quick profits.

once the price reaches as far as can be pushed these same traders will dump all their holdings as quickly as possible at high prices, sending the price lower and likely below the 1.20 level to new lows.

less technical description is this is a SUCKER RALLY.

my thoughts also,
Money never sleeps...
  • #683,664
  • Aug 23, 2012 11:25am Aug 23, 2012 11:25am
That was surprising on EUR going up escaping with only +2 pips.
LOL
  • #683,665
  • Aug 23, 2012 11:25am Aug 23, 2012 11:25am
Quoting Z3iz3i
This crap is really trying my patience, for a few weeks.

Same waiting and waiting, getting enough meat in front and then through we go to opposite direction.
Some shorters need to come along, then pop-up to get stops and hit vertical turbulence upwards ...wheee, nice air-poocket that one.
I know what you mean. Yet the reality is with the run from 2 days ago. The midpivot and regular pivot are on avg 55 points away. I still think market sentiment is still down, which is why they are allowing it to float here. Not to mention U.S. session is so dull compared to london (exclusing yesterday and fridays) so all runs are dragged out. I honestly dont trade during US session. I only placed that order to get a few points on the assumed dropped to the r1. Yet I honestly can not sit here and wait for a move. I like my action quick like my women. lol
He who guess is LOST!
  • #683,666
  • Edited 11:39am Aug 23, 2012 11:28am | Edited 11:39am
I am out of FF for awhile, and maybe some from the time I was very active here may miss me.

So here is my tip and advise for this pair for some daily periods.

DO NOT SHORT waiting big drops, you can profit from shorts in several resistances, but stay away if you wants trades for more than daily on short side.

First Long Target - 1.2833
Second Long Target - 1.3069

We can see above 1.35 if 1.32 goes (November will say)

All the best and Short for LONG, LONG TERM only above 1.3050, but safe levels only above 1.33 with SL above 1.3670 area

TARGET FOR ALL SHORTS Well Below 1.17

STAY OUT OF DAILY TRADE
  • #683,667
  • Aug 23, 2012 11:41am Aug 23, 2012 11:41am
The reason for all my green trades in this rally

Inserted Video


Will be oooolddd , one day baaabyyyy owww baby will be old !!
  • #683,668
  • Aug 23, 2012 11:43am Aug 23, 2012 11:43am
Quoting BoredToLoose
I am out of FF for awhile, and maybe some from the time I was very active here may miss me.

So here is my tip and advise for this pair for some daily periods.

DO NOT SHORT waiting big drops, you can profit from shorts in several resistances, but stay away if you wants trades for more than daily on short side.

First Long Target - 1.2833
Second Long Target - 1.3069

We can see above 1.35 if 1.32 goes (November will say)

All the best and Short for LONG, LONG TERM only above 1.3050, but safe levels only above 1.33 with SL above 1.3670 area

TARGET...
I agree. The way it looks like it will reach 1.3 and like you said probably more. It looks like every time it retrace it down only few pips, and then pushes it back up a lot more pips. 1.3 for now.
  • #683,669
  • Aug 23, 2012 11:43am Aug 23, 2012 11:43am
Quoting BoredToLoose
I am out of FF for awhile, and maybe some from the time I was very active here may miss me.

So here is my tip and advise for this pair for some daily periods.

DO NOT SHORT waiting big drops, you can profit from shorts in several resistances, but stay away if you wants trades for more than daily on short side.

First Long Target - 1.2833
Second Long Target - 1.3069

We can see above 1.35 if 1.32 goes (November will say)

All the best and Short for LONG, LONG TERM only above 1.3050, but safe levels only above 1.33 with SL above 1.3670...
Whoaaaa. Worst advice I have ever heard. Everything there is based on GUESSING. Daily trades are the best way to go.
He who guess is LOST!
  • #683,670
  • Aug 23, 2012 11:45am Aug 23, 2012 11:45am
Quoting todstars2
traders swinging large lines are painting the tape(advertising by buying small lots) increasing prices to encourage retail traders to jump on board for quick profits.

once the price reaches as far as can be pushed these same traders will dump all their holdings as quickly as possible at high prices, sending the price lower and likely below the 1.20 level to new lows.

less technical description is this is a SUCKER RALLY.

Todd, you make an interesting case.

I often wonder the impact of the larger traders vs bankers working for international corporations.


While I can see how the larger traders can cause significant spikes (up/down + 100 pips or so), I would *think* that the international companies have a stake in the game as well , to protect against currency loss when performing transactions (which I assume produces the trends long term).

I may be wrong in this mindset - but it makes sense to me.

That being said, if we start seeing the CPI and PPI reports of nations getting better, you start seeing long term improvements in the currencies.


So...to say this is a suckers rally, is more akin to only considering the short term view. Yes, I agree, there will be significant drops of 100 or so pips , but for every 100 down, your going to get 300 up since your now dealing with improvements across Europe.


All of this is my opinion, and I can be totally wrong. Thanks for reading.
  • #683,671
  • Aug 23, 2012 11:47am Aug 23, 2012 11:47am
is it me or the market is almost not moving by times???
smthg is crazy in London session, then nothing in US session????
  • #683,672
  • Aug 23, 2012 11:49am Aug 23, 2012 11:49am
I find this music to be a perfect summation of EUR/USD insanity:

Inserted Video
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
  • #683,673
  • Aug 23, 2012 11:50am Aug 23, 2012 11:50am
Quoting almo
Todd, you make an interesting case.

I often wonder the impact of the larger traders vs bankers working for international corporations.


While I can see how the larger traders can cause significant spikes (up/down + 100 pips or so), I would *think* that the international companies have a stake in the game as well , to protect against currency loss when performing transactions (which I assume produces the trends long term).

I may be wrong in this mindset - but it makes sense to me.

That being said, if we start seeing the CPI and...
Any improvement news proven and concrete since last week?

just pure speculation.

regarding traders, only HF can push market so much as well as large cash managers such as Insurers or Asset managers.
Bankers mainly trade for clients (as prop has been wiped out), so they only do hedging, though they can adjust with some small "Spiel" sometimes. They are big, but dont have enough risk limits...

from my own experience in banking...
  • #683,674
  • Aug 23, 2012 11:57am Aug 23, 2012 11:57am
Quoting divak
Any improvement news proven and concrete since last week?

just pure speculation.

regarding traders, only HF can push market so much as well as large cash managers such as Insurers or Asset managers.
Bankers mainly trade for clients (as prop has been wiped out), so they only do hedging, though they can adjust with some small "Spiel" sometimes. They are big, but dont have enough risk limits...

from my own experience in banking...
I can't attest to proven and concrete....I can only go on what they report.

This is the current PPI numbers reported today. For the most part, they are improving as a whole, my only concern would be for the German PPI flash number.
Attached Image (click to enlarge)
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  • #683,675
  • Aug 23, 2012 12:00pm Aug 23, 2012 12:00pm
Quoting almo
I can't attest to proven and concrete....I can only go on what they report.

This is the current PPI numbers reported today. For the most part, they are improving as a whole, my only concern would be for the German PPI flash number.
he refusing to listen or like to argue against fact
Mohan
  • #683,676
  • Aug 23, 2012 12:04pm Aug 23, 2012 12:04pm
eu looks exhausted
New voice message: Why are you calling me? If I need you, I'll call you!
  • #683,677
  • Aug 23, 2012 12:04pm Aug 23, 2012 12:04pm
merkel on wire

Quote
German Chancellor Merkel says will discuss with French President Hollande the decisions on banking supervision and Greece
Mohan
  • #683,678
  • Aug 23, 2012 12:07pm Aug 23, 2012 12:07pm
Quoting almo
I can't attest to proven and concrete....I can only go on what they report.

This is the current PPI numbers reported today. For the most part, they are improving as a whole, my only concern would be for the German PPI flash number.
agree, yet im not sure it justifies the current rally; nor QE3 false hopes. Everybody knows it wont happen, as 1. Bernanke hinted that past one had limited effects and there can be other ways, 2. US showed some good economic data in the past weekS
  • #683,679
  • Aug 23, 2012 12:08pm Aug 23, 2012 12:08pm
Quoting mohan76
he refusing to listen or like to argue against fact
I'm going with the trend, but im convinced we will fall back soon as no real improvement has been done in Euro.
  • #683,680
  • Aug 23, 2012 12:12pm Aug 23, 2012 12:12pm
Quoting divak
I'm going with the trend, but im convinced we will fall back soon as no real improvement has been done in Euro.
but u said you shorting with s/l above 1.30
Mohan
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