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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #56,081
  • Sep 24, 2012 11:33am Sep 24, 2012 11:33am
1.30 + attempt is in 2 days.
  • #56,082
  • Sep 24, 2012 11:37am Sep 24, 2012 11:37am
Quoting rekon67
1.30 + attempt is in 2 days.

When Draghi speaks?
  • #56,083
  • Sep 24, 2012 11:43am Sep 24, 2012 11:43am
Quoting TRMZXT
When Draghi speaks?
Draghi will remain quiet for now because there is nothing he can say that will create any positive sentiment. If he dares open is mouth about monetary policy, he risks knocking down the house of cards. Nooo Draghi will keep his lips sealed until the next ECB press conference in October.
Those who say it cannot be done should not interrupt those who are doing it
  • #56,084
  • Sep 24, 2012 11:59am Sep 24, 2012 11:59am
What is next?
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  • #56,085
  • Sep 24, 2012 12:10pm Sep 24, 2012 12:10pm
Market is dead. I though my 1.30+ call will shake it a bit ..but no .. so Good night
  • #56,086
  • Sep 24, 2012 12:29pm Sep 24, 2012 12:29pm
Quoting Islander
Thanks I did .......and I also see that I haven't missed anything....
What Island are you on again??
  • #56,087
  • Sep 24, 2012 12:30pm Sep 24, 2012 12:30pm
Quoting PipTrapper
Yep. With recovery mode, as long as you keep working the system, the system will work for you. No doubt. Keep it up
Thats what they say my friend

hey PT do you trade equities at all? es or dow futures or anything?
  • #56,088
  • Sep 24, 2012 12:30pm Sep 24, 2012 12:30pm
Quoting rekon67
Market is dead. I though my 1.30+ call will shake it a bit ..but no .. so Good night
Now I know it was you hammering away at the sell button coz as soon as you left, price popped up 15 pips. Get back here and start hammering again
Those who say it cannot be done should not interrupt those who are doing it
  • #56,089
  • Sep 24, 2012 12:34pm Sep 24, 2012 12:34pm
Quoting Wulfgar
Thats what they say my friend

hey PT do you trade equities at all? es or dow futures or anything?
Nope. Strictly currencies.
They offer the most flexibility because you can trade them either way and you can choose what to play against what. Besides, macro-economics is a lot easier to track than what goes on in secret board meetings or on fudged balance sheets.
Those who say it cannot be done should not interrupt those who are doing it
  • #56,090
  • Sep 24, 2012 12:35pm Sep 24, 2012 12:35pm
hey masters of forex, would you expect EU to retrace back up to the recent high of 1.3168 to test it's resistance and come back down again?
  • #56,091
  • Sep 24, 2012 12:39pm Sep 24, 2012 12:39pm
Quoting PipTrapper
Nope. Strictly currencies.
They offer the most flexibility because you can trade them either way and you can choose what to play against what. Besides, macro-economics is a lot easier to track than what goes on in secret board meetings or on a fudged balance sheets.
I can see that perspective. I was just catching up with Cloggie. He is trading only es and futures now. Seems to think that the fx markets are screwed up for the time being due to the actions and devaluing of all the CB's.

I know he is a vet trader and equities are where he started out. I was just curious about yourself since many position traders tend to have the patience it takes to actually play something as slow moving as the es...lol
  • #56,092
  • Sep 24, 2012 12:43pm Sep 24, 2012 12:43pm
Quoting PipTrapper
Well folks. Being a Monday and a slow news day, I don't see much more action till NY gets under way. So Wifey and I are heading out for an early lunch at the beach.
Later

http://www.travelmanual.info/wp-cont...restaurant.jpg
I thought you are in Canada? Early lunch @ 5 AM Eastern time?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #56,093
  • Sep 24, 2012 12:45pm Sep 24, 2012 12:45pm
Morgan Stanley: QE3 Not Enough to Help Equities, Look For QE4

QE3 will likely be insufficient to significantly boost equity markets and we wouldn’t be at all surprised to see the Fed dramatically augment this program (i.e., QE4) before year-end, particularly if economic and corporate news continue to deteriorate as they have over the past few weeks.



Where is W.H. Le Massena when we need him the most?

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Those who say it cannot be done should not interrupt those who are doing it
  • #56,094
  • Sep 24, 2012 12:48pm Sep 24, 2012 12:48pm
Quoting KillerWhale
I thought you are in Canada? Early lunch @ 5 AM Eastern time?
he lives in Malta on some Island paradise...

Im jelly
  • #56,095
  • Sep 24, 2012 12:48pm Sep 24, 2012 12:48pm
Quoting KillerWhale
I thought you are in Canada? Early lunch @ 5 AM Eastern time?
Canada? Nope. I'm in the Mediterranean soaking up the sun right now.

Canada is home though

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Those who say it cannot be done should not interrupt those who are doing it
  • #56,096
  • Sep 24, 2012 12:51pm Sep 24, 2012 12:51pm
Quoting Wulfgar
I can see that perspective. I was just catching up with Cloggie. He is trading only es and futures now. Seems to think that the fx markets are screwed up for the time being due to the actions and devaluing of all the CB's.

I know he is a vet trader and equities are where he started out. I was just curious about yourself since many position traders tend to have the patience it takes to actually play something as slow moving as the es...lol
I do in fact have the patience... just don't have the confidence and trust in the equities and commodities markets. Too much corruption and insider trading. My money is best where I can see it and there's nothing more transparent than a currency pair.
Those who say it cannot be done should not interrupt those who are doing it
  • #56,097
  • Sep 24, 2012 12:57pm Sep 24, 2012 12:57pm
Quoting PipTrapper
I do in fact have the patience... just don't have the confidence and trust in the equities and commodities markets. Too much corruption and insider trading. My money is best where I can see it and there's nothing more transparent than a currency pair.
Good deal PT...

enjoy the beach my friend. My beach is covered in a thick fog at the moment....
  • #56,098
  • Sep 24, 2012 1:02pm Sep 24, 2012 1:02pm
Quoting Wulfgar
Good deal PT...

enjoy the beach my friend. My beach is covered in a thick fog at the moment....
That's not fog. It's smog blowing in from L.A. Commuters are putting cheap lamp oil in their gas tanks to save a few bucks

http://3.bp.blogspot.com/_6p1a21KwMk...st-vehicle.jpg
Those who say it cannot be done should not interrupt those who are doing it
  • #56,099
  • Sep 24, 2012 1:05pm Sep 24, 2012 1:05pm
Quoting PipTrapper
That's not fog. It's smog blowing in from L.A. Commuters are putting cheap lamp oil in their gas tanks to save a few bucks

http://3.bp.blogspot.com/_6p1a21KwMk...st-vehicle.jpg
lol... Ive considered that....
  • #56,100
  • Sep 24, 2012 2:57pm Sep 24, 2012 2:57pm
Today being what it is, thought i would spend a little time going over some really long term charts for the EURO/USD.

monthly/30 year is the time frame
50 period and 100 period sma indicator employed
fibo retrace from 10/31/2000 low .8225 to 07/31/2008 high 1.6036
jan 1 1999 was the actual inception date for the Euro
So the dates chosen to look at were not hypothetical results but based upon real time low and high applications within the existence time frame of the Euro.

What is interesting is that the 50% retrace was 1.2145 and the 200 sma at 1.2052 with the recent daily low at 1.2041

Also the recent daily high 1.3171 which was a test above and subsequent rejection was at the 38.2% level 1.3063

Another number that keeps reappearing is the 1.2700 level especially on the weekly charts, (wkly/10 year). That price level which for whatever reason the market keeps eventualy testing repeatedly is 471 pts below the most recent high and 660 pts above the most recent low. I think this favors a return to at least a test of the 1.2700 level and possibly lower.

worth a look at the monthly 50 sma which has clearly turned down and currently is at 1.3550

Monthlies also show a rather clear wedge top formation for those who think that technical macros are worth taking into analytic account.

with the NY close the Euro was not able to do much of any retrace on the daily move, so will continue to hold positions looking for ongoing direction down.
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