Does anyone here use Esignal?
- #50,622
- Aug 28, 2012 8:19pm Aug 28, 2012 8:19pm
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
The roaches have scattered. Guess I'll go to bed.........please turn out the lights when you leave the room!
G'night Beyatches!
G'night Beyatches!
- #50,623
- Edited 9:53pm Aug 28, 2012 9:37pm | Edited 9:53pm
- | Commercial User | Joined May 2012 | 3,285 Posts
The roaches have scattered. Guess I'll go to bed.........please turn out the lights when you leave the room!
G'night Beyatches!
Gofer you loner...
EUR/AUD: Anybody who is long EUR/AUD, quick reminder, we are coming up to a critical area @ 1.2145. http://www.forexfactory.com/showthre...72#post5935472
If we can break the 1.2145 area with strong conviction then the next area of interest for me is 1.23.
- #50,625
- Aug 29, 2012 12:06am Aug 29, 2012 12:06am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Good morning everyone.
As we creep closer to the most awaited event at Jackson Hole Symposium in Jackson Hole Wyoming, which is obviously Ben Barnanke's speech on Friday, the US Dollar still seems to be taking a bit of a beating in speculation that Mr Bernanke is going to give some hints that further easing is around the corner, possibly as early as September. The markets are really hooked on the hopium they have become so accustomed to. Why? It surely beats me. I often scratch my head over this but such is the market place which is mostly based on speculation lately and less about hard numbers. You see, although the US economy is not showing any impressive signs of a rebound, it is not exactly slipping into a recession either. It is more so chugging along at the moment as the corporate sector waits to see what the fiscal policy picture looks like. If I was running a business in the US, I would surely not embark on any plans to expand my business and create new jobs if I did not know how much it was going to cost me in the end. No amount of monetary policy would sway me towards making any investments in this situation. In fact it may even have the opposite effect. It is a fact that any further monetary easing would result in higher operating costs for my business through and increase in energy prices and higher raw material costs due to a weaker dollar. Combine that with the fiscal uncertainty and the end result is that I'm staying put, or worse yet, cutting back to protect my profits and the viability of my business. This is just one of many reasons why I do not believe we will get any more easing. It just won't work for small business in America... the cornerstone of the American economy. Simply put, the Fed has done all it can. The most it can do now is maintain the status quo. As such, Mr. Market is in for a major disappointment come Friday. Till then, it seems right now that the hope will live on. So be it.
Yesterday I was anticipating a softer Euro in what I considered to be a correction of last week's rally. Instead we got another rally to form what seems to be a double topping pattern. In order to confirm it, I would want to see a break below the double top neckline at the 1.2475 area, around 80 pips below current levels and 100 pips below the top. If we do see a confirmation, then the target to complete the pattern would be the 1.2375 area which should coincide with the rising channel support line and the 55 day SMA. For such a move (approx 180 pips from these levels), something negative has to come out as a catalyst to get us going. With the current level of hopium floating around out there, price may not even be able to break below today's daily pivot around 1.2535 area. As always, time will tell.
Anyway, as I mentioned on Monday, we are probably in for a whipsaw week leading up to Bernanke's speech. What happens after that all depends on how Mr. Market interprets what he has to say. My feeling is that major disappointment is in the cards for reasons I already explained above.
Should we get another hopium boost, I have sell limit orders waiting at 1.2615 and 1.2690. Although quite achievable, these levels will also require some kind of catalyst to reach as there is some strong option interest at 1.2600 which I expect will be defended somewhat, but will probably not hold back any renewed hopium push on perceived positive news out of Europe.
Hang in there folks... the day of reckoning is near. The theme lately has been more slanted towards "To QE or not to QE" rather than the traditional "Risk-on/Risk-off" paradigm we have come to know since the 2008 financial crisis.
E/U Daily
http://www.piptrapper.com/eurusd-out...h-august-2012/
As we creep closer to the most awaited event at Jackson Hole Symposium in Jackson Hole Wyoming, which is obviously Ben Barnanke's speech on Friday, the US Dollar still seems to be taking a bit of a beating in speculation that Mr Bernanke is going to give some hints that further easing is around the corner, possibly as early as September. The markets are really hooked on the hopium they have become so accustomed to. Why? It surely beats me. I often scratch my head over this but such is the market place which is mostly based on speculation lately and less about hard numbers. You see, although the US economy is not showing any impressive signs of a rebound, it is not exactly slipping into a recession either. It is more so chugging along at the moment as the corporate sector waits to see what the fiscal policy picture looks like. If I was running a business in the US, I would surely not embark on any plans to expand my business and create new jobs if I did not know how much it was going to cost me in the end. No amount of monetary policy would sway me towards making any investments in this situation. In fact it may even have the opposite effect. It is a fact that any further monetary easing would result in higher operating costs for my business through and increase in energy prices and higher raw material costs due to a weaker dollar. Combine that with the fiscal uncertainty and the end result is that I'm staying put, or worse yet, cutting back to protect my profits and the viability of my business. This is just one of many reasons why I do not believe we will get any more easing. It just won't work for small business in America... the cornerstone of the American economy. Simply put, the Fed has done all it can. The most it can do now is maintain the status quo. As such, Mr. Market is in for a major disappointment come Friday. Till then, it seems right now that the hope will live on. So be it.
Yesterday I was anticipating a softer Euro in what I considered to be a correction of last week's rally. Instead we got another rally to form what seems to be a double topping pattern. In order to confirm it, I would want to see a break below the double top neckline at the 1.2475 area, around 80 pips below current levels and 100 pips below the top. If we do see a confirmation, then the target to complete the pattern would be the 1.2375 area which should coincide with the rising channel support line and the 55 day SMA. For such a move (approx 180 pips from these levels), something negative has to come out as a catalyst to get us going. With the current level of hopium floating around out there, price may not even be able to break below today's daily pivot around 1.2535 area. As always, time will tell.
Anyway, as I mentioned on Monday, we are probably in for a whipsaw week leading up to Bernanke's speech. What happens after that all depends on how Mr. Market interprets what he has to say. My feeling is that major disappointment is in the cards for reasons I already explained above.
Should we get another hopium boost, I have sell limit orders waiting at 1.2615 and 1.2690. Although quite achievable, these levels will also require some kind of catalyst to reach as there is some strong option interest at 1.2600 which I expect will be defended somewhat, but will probably not hold back any renewed hopium push on perceived positive news out of Europe.
Hang in there folks... the day of reckoning is near. The theme lately has been more slanted towards "To QE or not to QE" rather than the traditional "Risk-on/Risk-off" paradigm we have come to know since the 2008 financial crisis.
E/U Daily
http://www.piptrapper.com/eurusd-out...h-august-2012/
Those who say it cannot be done should not interrupt those who are doing it
- #50,626
- Aug 29, 2012 12:07am Aug 29, 2012 12:07am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #50,627
- Aug 29, 2012 12:09am Aug 29, 2012 12:09am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #50,628
- Aug 29, 2012 12:25am Aug 29, 2012 12:25am
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
- #50,629
- Aug 29, 2012 12:33am Aug 29, 2012 12:33am
On the down trend today, my first target of support is 1.2535 area
this point should offer a good bounce as it is 38.2% from yesterday's low, daily pivot and 55ema & 100sma. it is where I take 80% partial, or maybe close the position based on PA
- #50,630
- Aug 29, 2012 12:37am Aug 29, 2012 12:37am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #50,631
- Aug 29, 2012 12:41am Aug 29, 2012 12:41am
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
Morning Swissy,
this point should offer a good bounce as it is 38.2% from yesterday's low, daily pivot and 55ema & 100sma. it is where I take 80% partial, or maybe close the position based on PA
- #50,635
- Aug 29, 2012 12:51am Aug 29, 2012 12:51am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #50,636
- Aug 29, 2012 12:52am Aug 29, 2012 12:52am
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
It would be great if you could post more often and keep an eye out for divergence. - #50,637
- Aug 29, 2012 12:55am Aug 29, 2012 12:55am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Thx for chart kitty.
https://encrypted-tbn1.google.com/im...if0Qd0a3oSVQowhttps://encrypted-tbn1.google.com/im...8ug92njdsoqRXQ
Those who say it cannot be done should not interrupt those who are doing it
- #50,640
- Aug 29, 2012 1:10am Aug 29, 2012 1:10am
- Joined May 2010 | Status: Trader | 2,004 Posts
yea.. and m5 goes with some momentum... But still should be good enough for a scalp
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