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  • #26,561
  • Jan 31, 2013 7:20pm Jan 31, 2013 7:20pm
Quoting forexalien
What goes up.......Has to turn around......
it dropped without much fighting..
never seen this before.. have you?

this e.u is killing me..

i said before that i will never touch e.u after getting burnt last time.. but i still keep playing with fire..
  • #26,562
  • Jan 31, 2013 7:23pm Jan 31, 2013 7:23pm
Quoting HelloOz
it dropped without much fighting..
never seen this before.. have you?

this e.u is killing me..

i said before that i will never touch e.u after getting burnt last time.. but i still keep playing with fire..
That was only a 30 pip drop , what till it drops 300 pips.......like that........
The More You Learn, The More You Earn.....
  • #26,563
  • Jan 31, 2013 7:25pm Jan 31, 2013 7:25pm
Quoting forexalien
That was only a 30 pip drop , what till it drops 300 pips.......like that........
maybe its because we are at 61.8fib retracement

http://fx1.it-finance.com/FXStreetFl...4f13794e5f.png
  • #26,564
  • Jan 31, 2013 7:35pm Jan 31, 2013 7:35pm
Quoting HelloOz
maybe its because we are at 61.8fib retracement

http://fx1.it-finance.com/FXStreetFl...4f13794e5f.png
Could have been a lot of things.....news, technicals, market manipulation , your billions.....H4 changing to red.....
The More You Learn, The More You Earn.....
  • #26,565
  • Jan 31, 2013 7:41pm Jan 31, 2013 7:41pm
Hi koala yes I hear what your saying about the EU I took out a short on it way back and I sit and hope that it is going collaspe soon but it just keeps marching up. Just put in a buy and now it is dropping.
Quoting HelloOz
it dropped without much fighting..
never seen this before.. have you?

this e.u is killing me..

i said before that i will never touch e.u after getting burnt last time.. but i still keep playing with fire..
  • #26,566
  • Jan 31, 2013 7:48pm Jan 31, 2013 7:48pm
Quoting arcticwolf
Hi koala yes I hear what your saying about the EU I took out a short on it way back and I sit and hope that it is going collaspe soon but it just keeps marching up. Just put in a buy and now it is dropping.
LOL..
sorry i dont mean to laugh at your loss but that also happen to me most of the time with e.u
seems like that pair doesnt like me at all...

i also noticed that e/u drop just before london open and then continue its uptrend
  • #26,567
  • Jan 31, 2013 7:50pm Jan 31, 2013 7:50pm
Quoting HelloOz
if history to repeat itself, further down will be expected in 30mins..
hmm.. it went up.. with a gap..
http://fx1.it-finance.com/FXStreetFl...cda307861f.png
  • #26,568
  • Jan 31, 2013 7:52pm Jan 31, 2013 7:52pm
must be due to HSBC PMI


Quoting HelloOz
hmm.. it went up.. with a gap..
http://fx1.it-finance.com/FXStreetFl...cda307861f.png
  • #26,569
  • Jan 31, 2013 9:02pm Jan 31, 2013 9:02pm
Regardless of what data came out from the Aussie and China, by LO, they would become a part of history. People in the market have short memory. The Aussie will move on following her own paths....
daddybearforex. com
  • #26,570
  • Jan 31, 2013 9:05pm Jan 31, 2013 9:05pm
Quoting DaddyBear
Regardless of what data came out from the Aussie and China, by LO, they would become a part of history. People in the market have short memory. The Aussie will move on following her own paths....
This drop was to complete the existing pattern before the Aussie can start next pattern. China PMI was a smoke/catalyst. Nothing more and nothing less.
daddybearforex. com
  • #26,571
  • Jan 31, 2013 9:08pm Jan 31, 2013 9:08pm
Quoting DaddyBear
This drop was to complete the existing pattern before the Aussie can start next pattern. China PMI was a smoke. Nothing more and nothing less.
I have the mindset the Aussie is a risk adverse currency, and long term trend is up.

But with this Euro climbing, from selling of the AUD, we could see a break of 1.04, after all we currently in 3rd testing.

In defence, this is a lower low [LL] and does signal an uptrend.


I am very weary of this 1.04...
Even the worst trade can close with profit. Just give it time.
  • #26,572
  • Jan 31, 2013 9:21pm Jan 31, 2013 9:21pm
John, the bears will be disappointed by NY sunrise.

Quoting John Gray
I have the mindset the Aussie is a risk adverse currency, and long term trend is up.

But with this Euro climbing, from selling of the AUD, we could see a break of 1.04, after all we currently in 3rd testing.

In defence, this is a lower low [LL] and does signal an uptrend.


I am very weary of this 1.04...
daddybearforex. com
  • #26,573
  • Jan 31, 2013 9:24pm Jan 31, 2013 9:24pm
Quoting DaddyBear
John, the bears will be disappointed by NY sunrise.
the Aussie bears...

Unfortunately I believe this would also cause the Euro bulls to be disappointed...

Which of course, I would love, but whether a possibility, I think the odds are against us.
Even the worst trade can close with profit. Just give it time.
  • #26,574
  • Jan 31, 2013 9:47pm Jan 31, 2013 9:47pm
We might see 10250 before the close today. When the market decides to start the plummet, tons and tons of bulls have stops just below the lows and when the stops are hit we go into a fast market panic. All the bulls trampling all over each other as they stampede toward the door. This could be a nasty one. Ask yourself : where are the stops?

This close, you can bet your rear end they are now a target for the pro's.
  • #26,575
  • Edited 10:24pm Jan 31, 2013 9:53pm | Edited 10:24pm
Might go to H4=>1.36 or so....
The Market pays you to be disciplined
  • #26,576
  • Jan 31, 2013 9:54pm Jan 31, 2013 9:54pm
Quoting DaddyBear
John, the bears will be disappointed by NY sunrise.
the bears will be disappointed to see the bulls get slaughtered.
  • #26,577
  • Jan 31, 2013 9:56pm Jan 31, 2013 9:56pm
For those interested in the YEN, be on the look out for a bottoming formation in the yen for the next two weeks or so. A terrific buy is developing. Could well be an awesome trade for a massive upside correction. Watch it.
  • #26,578
  • Jan 31, 2013 10:03pm Jan 31, 2013 10:03pm
Quoting chiknthief
For those interested in the YEN, be on the look out for a bottoming formation in the yen for the next two weeks or so. A terrific buy is developing. Could well be an awesome trade for a massive upside correction. Watch it.

enlighten me with your analysis - I am not being sarcastic either -
  • #26,579
  • Jan 31, 2013 10:11pm Jan 31, 2013 10:11pm
Quoting Compulsive
enlighten me with your analysis - I am not being sarcastic either -

The COT (Commitment of Traders) are at a multi-year extreme. Commercials @ near record net longs. Extreme readings is what you look for in the COT. The yen has the exact opposite setup as the aussie which is @ near record commercial net shorts. Here's the COT on the yen.

MONTHLY CHART
Attached Image (click to enlarge)
Click to Enlarge Name: A MTHLY JY.JPG Size: 94 KB
  • #26,580
  • Jan 31, 2013 10:12pm Jan 31, 2013 10:12pm
bears/bulls - this is the second inverse hammer on the monthly chart
Fact is, aud will go down - hard - it's all been leading up to the FEB bank decision - all signs point to a big move down. Two inverse hammer candles on the monthly chart is nothing to steer at.
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