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  • #55,961
  • Nov 7, 2012 10:33am Nov 7, 2012 10:33am
Wow!

of 310 on Dow and 33 on SAP that rounding bottom has been broken looks like a continuation lower

Draghi
Data suggest economic slowdown has reached Germany
and then it all went to hell
  • #55,962
  • Nov 7, 2012 10:52am Nov 7, 2012 10:52am
Hi JPL,
I want to say publicly that if I shorted massively @ 470 it's because I get my own signal but also I give a lot of confidence in your FA work. You were just in advance of 48 hours trade wise, but in FA wisely, I think, you deserve a prize. In less than 40 pips, the effect of no rate cut will be erased, evanished.
Research pay, rarely when we await it, but it always finish for rewarding your works.
A billion pips Thanks
Don't be smart. Be rich.
  • #55,963
  • Nov 7, 2012 11:01am Nov 7, 2012 11:01am
Thank you but I think you and several other traders here are on point on short term plays that pays out nicely and I do watch those all the time. Check out this presentation it's pretty compelling

http://www.businessinsider.com/doubl...ess-2012-11#-1
  • #55,964
  • Nov 7, 2012 11:21am Nov 7, 2012 11:21am
Quoting jplazard
Thank you but I think you and several other traders here are on point on short term plays that pays out nicely and I do watch those all the time. Check out this presentation it's pretty compelling

http://www.businessinsider.com/doubl...ess-2012-11#-1
Shall we see 1.0330 is my concern now
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #55,965
  • Nov 7, 2012 11:27am Nov 7, 2012 11:27am
Crazy ride down today, but seems to be bottoming out. I've entered a long entry, see how this pans out.

I think the market is going to realise soon they're just gonna kick the can down the road with the fiscal cliff thing like they always do. So no big deal as long the printing dont stop.
  • #55,966
  • Nov 7, 2012 11:51am Nov 7, 2012 11:51am
The day after elections historically markets sell off a bit. ES looks to be a rounding bottom if we can close above 1397 anything lower than that I would be concerned with a continuation bearish pattern as the cup and handle pattern formation would be out of the question

As for AUD/USD now back in the confluence walls COULD come down a bit here but needs to break 1.04-1.0485 fibs in order to test the upper trendline. I missed my short swing entry but looking to unemployment and were we are trading for a new setup.

Watch ES as see where we close because this rounding bottom play could still be intact not to mention so many things could happen tomorrow like ECB lowering the rate.
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  • #55,967
  • Nov 7, 2012 11:57am Nov 7, 2012 11:57am
Closed out ALL of my longs for the time being. May look for a better setup but I was not liking price action at all...

Currently only short EUR/AUD and GBP/AUD. Will wait on any A/U or A/J trades for the time being.

I was wrong about 83.50 resistance being broken, should have waited for weekly close before jumping the gun.

Made some nice pips but a little disappointed in myself...
  • #55,968
  • Nov 7, 2012 12:11pm Nov 7, 2012 12:11pm
Looks like Europe and the US Fiscal Cliff is back in focus now that the US elections are over.

Markets seems to be zeroing in on Europe. Watch for a stronger dollar.

We do not care if AUD/USD trades up or down let's just be on the right side of the moves.
  • #55,969
  • Nov 7, 2012 12:20pm Nov 7, 2012 12:20pm
Quoting 100PipsADay
Closed out ALL of my longs for the time being. May look for a better setup but I was not liking price action at all...

Currently only short EUR/AUD and GBP/AUD. Will wait on any A/U or A/J trades for the time being.

I was wrong about 83.50 resistance being broken, should have waited for weekly close before jumping the gun.

Made some nice pips but a little disappointed in myself...
Yen being bought up - US sell off.
  • #55,970
  • Nov 7, 2012 12:23pm Nov 7, 2012 12:23pm
Quoting Ken A
Yen being bought up - US sell off.
Yep...

Looks like investors are losing confidence. As the poster above stated, Euro crisis and US fiscal cliff back in focus.

This means Bullish USD and Risk Off.

I would rather wait for the dust to settle before playing any USD pairs and JPY cross pairs.
  • #55,971
  • Nov 7, 2012 12:26pm Nov 7, 2012 12:26pm
Quoting 100PipsADay
Yep...

Looks like investors are losing confidence. As the poster above stated, Euro crisis and US fiscal cliff back in focus.

This means Bullish USD and Risk Off.

I would rather wait for the dust to settle before playing any USD pairs and JPY cross pairs.
Might wait for few sessions for the dust to settle. I was staring at the screens all day long. Closed all the Yen pairs.
  • #55,972
  • Nov 7, 2012 12:26pm Nov 7, 2012 12:26pm
Will not be pretty for AU bulls... a correction here is way overdue.
  • #55,973
  • Nov 7, 2012 12:39pm Nov 7, 2012 12:39pm
Quoting Ken A
Might wait for few sessions for the dust to settle. I was staring at the screens all day long. Closed all the Yen pairs.
Same here!
  • #55,974
  • Nov 7, 2012 12:56pm Nov 7, 2012 12:56pm
Normal pre and post election movement
  • #55,975
  • Nov 7, 2012 1:54pm Nov 7, 2012 1:54pm
Quoting Iro
Crazy ride down today, but seems to be bottoming out. I've entered a long entry, see how this pans out.

I think the market is going to realise soon they're just gonna kick the can down the road with the fiscal cliff thing like they always do. So no big deal as long the printing dont stop.
Okay do you even know what a Fiscal Cliff means??
The Fiscal Cliff is essentially a way Obama is going to approach to Minimise Government Budget Deficits by either....
1. Cut Spending
2. Increase Taxes....
Now as John Boehner has suggested that he hasnt heard of any mandate to Increase Taxes, we shall presume its to Cut Spending.... Sooo...
If the Government is Cutting Spending.... Theres less need to Print Money to Finance their Spending now would it??

So this Fiscal Cliff is a GOOD THING, in a sense if the US manages to pull it off, they wont have to print anymore money!!!
THE DOWNSIDE though.... is that speculators are saying.... IF Government Cut Spending (though not knowing what is going to be cut), That the US Economy only Managed to stay in Growth ever since the financial Crash in 2008 through Government Spending of which.... the Money was provided from the Printed Money aka QE1,2,3 through the Fed... So if the Government Cuts Spending.... (speculators are saying) the US economy may enter a double dip recession because of the Spending Cuts....

That is ALL to it in the current US problem...
Theres 2 sides to this fiscal cliff argument wether if its a good or a bad thing... and you know what??? economists will never give you a definite answer what the country should do for the economy.... they will come up with MULTIPLE THEORIES and let you decide for your own...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #55,976
  • Nov 7, 2012 2:17pm Nov 7, 2012 2:17pm
Quoting fxtyrant
Okay do you even know what a Fiscal Cliff means??
The Fiscal Cliff is essentially a way Obama is going to approach to Minimise Government Budget Deficits by either....
1. Cut Spending
2. Increase Taxes....
Now as John Boehner has suggested that he hasnt heard of any mandate to Increase Taxes, we shall presume its to Cut Spending.... Sooo...
If the Government is Cutting Spending.... Theres less need to Print Money to Finance their Spending now would it??

So this Fiscal Cliff is a GOOD THING, in a sense if the US manages to pull it off, they...
What I think is that if they increase the fiscal deficit it is a good and bad thing while if they don't it is also a good and bad thing...

pro for increasing: will boost commodities because of more printing
con: confidence may fall with impending inflation fears

pro for not increasing: Shows us is doing something about their problem... might backfire might not..
con: will the cuts be enough? US companies will drag on this news and S&P will come down

I'm leaning towards the first case and they will take the chance of confidence falling.
  • #55,977
  • Nov 7, 2012 2:28pm Nov 7, 2012 2:28pm
Quoting fxtyrant
Okay do you even know what a Fiscal Cliff means??
The Fiscal Cliff is essentially a way Obama is going to approach to Minimise Government Budget Deficits by either....
"The United States fiscal cliff refers to the effect of a series of enacted legislation which, if unchanged, will result in tax increases, spending cuts, and a corresponding............"

http://en.wikipedia.org/wiki/United_States_fiscal_cliff
When the Joker is in the deck.. fear not and play it well
  • #55,978
  • Nov 7, 2012 2:46pm Nov 7, 2012 2:46pm
my view remains that big trendline at 570 will be violated in not too distant future.

will continue buying dips till then.

i will sit down and reasses my + view if shanghai closes below 2000.
  • #55,979
  • Nov 7, 2012 2:49pm Nov 7, 2012 2:49pm
Short from 1.04645 closed.. 43 Pips.
  • #55,980
  • Nov 7, 2012 4:26pm Nov 7, 2012 4:26pm
Liquidated all short term longs from 1.036 and 1.0403 @ 1.0416.

Crazy nz unemployment numbers, will short nzd on retrace now. Hope the aussie one isn't as fail.
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