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  • #803,861
  • May 31, 2013 9:25am May 31, 2013 9:25am
Thanks sisse!

If you still have some patience left, I would like to ask you two more questions.

1) What is ZN in futures market? I remember cloggie telling to watch 10 yr Note but didn't know what ZN was and if treasuries in EU like the Euro Bund or US 2 yr note was important as well. It appears you are saying these are all important across the board as EVERYONE is affected at these lower interest rates. However, I am sure there are a few key ones and possibly the ZN is a symbol as ES is for S&P Futures.

2) How do you get 297X? I understand we have the monthly high and low in and possibly the Weekly unless something happens; but how do you know the 297x will be the key close area? You seemed to know before the NY session started if I recall? It appears if I go with the e-closing at 11:45 (Eastern US time) on a 5 min candle, it closed around 2972. Is this how you figure the London close? But, I am still baffled how the 297X was an area to consider. I was looking at 2908 or 2947 area.


Thanks
  • #803,862
  • May 31, 2013 9:25am May 31, 2013 9:25am
Quoting SugarPink
{quote} gatorinla. Weren't these prices the cheap seats yesterday ?

yes, after the fact.. they were in yesterdays tf.
at post time 2996 or less,,, in the bigger picture.
those who can, do. those who cant, talk about those who can
  • #803,863
  • May 31, 2013 9:32am May 31, 2013 9:32am
going for the short at 2966
----- Dragonfly out in the sun you know what I mean, don't you know
  • #803,864
  • May 31, 2013 9:33am May 31, 2013 9:33am
Quoting SugarPink
{quote} noooooooooooooooooOOooOOooOOOooOo000oOoo you closed! :-(
it's lunch and it's friday and it's the 31st..
  • #803,865
  • May 31, 2013 9:36am May 31, 2013 9:36am
Quoting gatorinla
{quote} yes, after the fact.. they were in yesterdays tf. at post time 2996 or less,,, in the bigger picture.
right.. send a thank you note to Visco's on his remark to allow these wonderfuk cheap prices.

Quoting attila
{quote} it's lunch and it's friday and it's the 31st..
true true, its understandable
"You're solid gold, see you in hell"
  • #803,866
  • May 31, 2013 9:36am May 31, 2013 9:36am
Gator is your target 131518 next week..
  • #803,867
  • May 31, 2013 9:38am May 31, 2013 9:38am
Quoting gatorinla
{quote} nothing here for me but dice.. 3001 seems doable... just the r/r sucks.. if it was Monday and i had just walked in with fresh adr... then a bounce to 2979 was a add to the ones closed. or on the bull side i would be doing it now at 2966

yes probably not much meat left either way, a few zig zags. ( i think I am too infatuated with the 4H kumo/cloud 1.2928)
----- Dragonfly out in the sun you know what I mean, don't you know
  • #803,868
  • May 31, 2013 9:41am May 31, 2013 9:41am
Quoting sophiaphia
going for the short at 2966
going hippy 60ties instead of
retro 80ties huh?.. i kinda like 2997 attraction after the 40ties.
those who can, do. those who cant, talk about those who can
  • #803,869
  • May 31, 2013 9:42am May 31, 2013 9:42am
Quoting sophiaphia
{quote} yes probably not much meat left either way, a few zig zags. ( i think I am too infatuated with the 4H kumo/cloud 1.2928)

make him earn it,,, take precautions..
those who can, do. those who cant, talk about those who can
  • #803,870
  • May 31, 2013 9:43am May 31, 2013 9:43am
It would seem the S&P correlation for EUR/USD has changed. Its not all the time but it looks like when the S&P rises so too does the USD.
  • #803,871
  • May 31, 2013 9:47am May 31, 2013 9:47am
Quoting SugarPink
{quote} noooooooooooooooooOOooOOooOOOooOo000oOoo you closed! :-(
No worries. I give u company

Edit: Unitl it get killed
  • #803,872
  • May 31, 2013 9:54am May 31, 2013 9:54am
Just FYI (dunno if it's of any importance) my EA detected 8 pips drop in less than a 1/10 of a second on EURUSD today @ 13:42 (that's the time on the chart)
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #803,873
  • May 31, 2013 9:57am May 31, 2013 9:57am
Hello all,
this is an update for the Euro.I am also providing a view of the major swing levels I am following with the meaning I attach to them. Hope it is clear. Should you have any questions do not hesitate to ask.

The area between 1.3240 and 1.3357 is a short area. Here bears were clearly interested in selling. Their continued action was able to keep moving price down into the support area below. Bears will be gone if price moves above 1.3357 (level c). The short setup has targets at 1.2530.

The area between 1.2910 and 1.2800 has acted as a support for prices twice and we cannot exclude it will act again as support, but we cannot be certain. That area of demand will only disappear after price moves below 1.2714 (level b). Target for all the participants in this area of support is 1.41. Such target will only be confirmed if we manage to move above 1.3358 (level c).

Attached Image (click to enlarge)
http://www.forexfactory.com/attachment.php?attachmentid=1204643&stc=1&thumb=1&d=1370019088

Today bears defended the next measured move lower, from May 1st highs to mid-may lows and this is a sign they are still around. Particularly they defended the 1.3078-80 level (level a). Above such level there would be the high probability of retesting the 1.3240 area, the short area for the bears and possibly the challenge to the 1.3357 (level c). On the other hand if price stays below 1.3080 (level a) and moves below 1.2715 (level b), the target for the bears will be confirmed at 1.2530.

So still everything is open in the Euro and I will wait the current situation to resolve before committing on the long side (I am still short and I will be below 1.3078, as mentioned yesterday). The levels to watch on the daily/weekly are those specified (a, b and c). Those levels are not going to change whatever price does, and you know the meaning I attach to them.

Hope this helps. Later on on the blog I will post a video featuring both the Euro and the Dollar Index.

Chat to you later
-fibstalker.
"markets traded by programs/HFT offer a significant trading edge..."
  • #803,874
  • May 31, 2013 9:59am May 31, 2013 9:59am
Quoting IMARICH1
Thanks sisse! If you still have some patience left, I would like to ask you two more questions. 1) What is ZN in futures market? I remember cloggie telling to watch 10 yr Note but didn't know what ZN was and if treasuries in EU like the Euro Bund or US 2 yr note was important as well. It appears you are saying these are all important across the board as EVERYONE is affected at these lower interest rates. However, I am sure there are a few key ones and possibly the ZN is a symbol as ES is for S&P Futures.
Yes ES is the future symbol for the S&P. For the 10-Yr US T-Note (ZN), ZB for the 30yr and ZT for the 2yr, all except the 30yrs very tradable and extremely liquid instruments for trading. You can track Us bonds almost anywhere in the web for free so you don't need a future account to track them. In the Euro there is no one single bond market (you see what is the problem and main difference between the dollar and euro and all the endless discussion about eurobonds, etc) so we use Germany as benchmark in the Bund in Eurex (FGBL for trading) and for the mid term the BOBL also in Eurex (FGBM) .....

Quote
2) How do you get 297X? I understand we have the monthly high and low in and possibly the Weekly unless something happens; but how do you know the 297x will be the key close area? You seemed to know before the NY session started if I recall? It appears if I go with the e-closing at 11:45 (Eastern US time) on a 5 min candle, it closed around 2972. Is this how you figure the London close? But, I am still baffled how the 297X was an area to consider. I was looking at 2908 or 2947 area. Thanks

Well, 1.297x come from almost every single chart outside of intraday Tfs, you can see the current initial reference of 1.297x with charts in my Q2/2013 Outlook but I don't remember one Q outlook in the last 2 years that level hasn't been as reference ...point is, and prolly the best advantage of trading longer TFs is that LEVELS don't change every blow in the market so no magic numbers or anything just open your Daily and above charts and plot those basic key S/R levels ....it will do wonders for getting you in synch with the market....

Last 3 Q outlooks for reference, I hope it helps

...day is dying in chop....

sisse

Quoting sisse
Quarterly Outlook Q2 2013 On the FA side: After breaking all time highs in equities with raging bulls and clearing another episode in the never ending European Debt Crisis drama we got left with only one key conclusion and factor in play for this Quarter: The clear and deep macroeconomic divergences between Europe and the US (and the rest if the world in general)............. Nothing to see to the long side until 1.298x. A break open key 1.334x, above to 1.398x needs a break and is locked now.....

Quoting sisse
Quarterly Outlook Q1 2013 On the FA side: After VIX posted the Worst Weekly Loss on Record is clear the storm that started 2008 is officially over. ....... A test 1.297x and/or rejection of daily swing low at this levels open a good long swing to 1.347x with multiple stops in the noisy 1.309x, and after 1.334x. Lots of Support and noise below 1.297x}
Quoting sisse
Quarterly Outlook On the FA side: Election Quarter so any ........ Retrace 1st from 1.296x fadable to 1.275x with exten ......
Pending conversations? PM for a chat...I am mainly in OTM now
  • #803,875
  • May 31, 2013 10:12am May 31, 2013 10:12am
Let see how market opened next week.
Now I thinking, perhaps we see next (monday) 1,289xx - 1,284xx.
  • #803,876
  • May 31, 2013 11:15am May 31, 2013 11:15am
tick indication at 66.4 we should bounce to test sissy's 74.4
those who can, do. those who cant, talk about those who can
  • #803,877
  • May 31, 2013 11:21am May 31, 2013 11:21am
Quoting gatorinla
tick indication at 66.4 we should bounce to test sissy's 74.4
Lol ...can u cover the spread....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #803,878
  • May 31, 2013 11:31am May 31, 2013 11:31am
Quoting gatorinla
tick indication at 66.4 we should bounce to test sissy's 74.4

last test?
those who can, do. those who cant, talk about those who can
  • #803,879
  • May 31, 2013 11:33am May 31, 2013 11:33am
Quoting sisse
{quote} Lol ...can u cover the spread.... sisse

its how i look to enter best price. works well at times.
those who can, do. those who cant, talk about those who can
  • #803,880
  • May 31, 2013 11:39am May 31, 2013 11:39am
Dollar index closed at 83.44. What does that mean in terms of NYE? NYE closed.
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