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  • #3,201
  • Dec 4, 2013 7:32pm Dec 4, 2013 7:32pm
Quoting Olu
{quote} Hi BW I follow the TLT etf and a while back I posted a chart saying we are going to new lows. Glad to see/read corroborating opinions Olu
Nice one Olu
I have no clue what I'm talking about.
  • #3,202
  • Dec 4, 2013 7:36pm Dec 4, 2013 7:36pm
Quoting Olu
{quote} I stopped and started 3 times so I know what you mean. This time I am determined to be good at it pronto Olu
Nice thing about the guitar, you can drink whilst practising, which makes it more fun. That unfortunately doesn't work with the piano, or not for me anyway. Good luck with it mate
I have no clue what I'm talking about.
  • #3,203
  • Dec 5, 2013 12:59am Dec 5, 2013 12:59am
In the book of Murphy about intramarket analysis it says somewhere that the yield of bonds are correlated (lousy correlation now) to $, does it means that the expected drop of the t-Note bills you guys (Olu and BW) are watching supports the possible drop of the $? look today at the $ it is attacking again the 80.5. Last night gold and silver closed bullish although by the end of the session both showed rejection of resistance, which makes me feel that at least till now bulls are not fully in control.
Piano and guitar, really nice. I have no ears for music, as everyone tells me when I sing under the shower:..I destroy the melodies
i like photography, but since I started forex 2.5 years ago I almost didnīt touch a camera , I even sold it to fund my accounts , same happened to my car but I m sacrificing thinking that I will be the next G. Soros
  • #3,204
  • Dec 5, 2013 1:26am Dec 5, 2013 1:26am
Another senario of gold if the rejection of the long-term trend line support connecting between October-08 and June-13 (around 1,229 is confirmed. This fits then with the bullish silver SRT is holding and with the bullish Oil (However, Dow and S&P 500 are dropping...but i see on short term basis indices dont usually correlate with metals and oil...did anyone noticed that?).
However, this is connecting only 2 points and now it was attacked again very soon after marking the second point...not so good as the close of yesterday. But, If it holds on weekly close then I am definitely taking a break of the $ bulls league to join the bears for a swing.
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  • #3,205
  • Dec 5, 2013 2:26am Dec 5, 2013 2:26am
Woke up to find my 80.40 area severely attacked but gold and silver still holding below resistance at the moment despite strength in the euro. Not the way it should be at all. took a small short in silver though with a tight(er) stop. Cocoa and Coffee and $ index are on serious watch today

Olu
If you think you can or cannot do it you are correct
  • #3,206
  • Dec 5, 2013 5:13am Dec 5, 2013 5:13am
Quoting rehab
In the book of Murphy about intramarket analysis it says somewhere that the yield of bonds are correlated (lousy correlation now) to $, does it means that the expected drop of the t-Note bills you guys (Olu and BW) are watching supports the possible drop of the $? look today at the $ it is attacking again the 80.5. Last night gold and silver closed bullish although by the end of the session both showed rejection of resistance, which makes me feel that at least till now bulls are not fully in control. Piano and guitar, really nice. I have no ears...
Damn I had a post written and just hit the back key on my browser by mistake. So this is going to be short.
On correlations: they change. I've learnt not to rely on them and to trade the chart of the instrument that I'm buying or selling. Correlated instruments are worth looking at but you gotta be careful...keep it as a factor to buy or sell but not *the* factor.
Gold and silver, I dunno, I think this is a flush of gold shorts because the double bottom (1180?) is looking like a very high odds target having got this far. I'm short gold put 1240 and short the underlying from about the same price. Was going to possibly sell a far OTM call but the price has already dropped to the 30s so I may have missed the boat on that. Failure to move above y'day's high today (it's still early days though) suggests it's a busted flush to me.
If your forex has caused you to no longer do your photography, I sympathise. I have realised very recently that if I am to continue trading it has to not be so deleterious to my psychological health that I no longer do anything that I enjoy e.g. practising the piano. That means taking a much bigger view of things, having a longer timeframe which means looking at weekly charts, and trying very hard not to screen gaze as (for me) it's largely pointless and very very bad for my psychological health.
I have no clue what I'm talking about.
  • #3,207
  • Dec 5, 2013 5:16am Dec 5, 2013 5:16am
Quoting Olu
Woke up to find my 80.40 area severely attacked but gold and silver still holding below resistance at the moment despite strength in the euro. Not the way it should be at all. took a small short in silver though with a tight(er) stop. Cocoa and Coffee and $ index are on serious watch today Olu
I just logged on and see we've had the expected flush of the eurusd shorts with a push to 1.3640ish which reversed just as quickly. All the tell tale signs of those bastards going on stop hunts. I am wondering though if we get another final one to seal the deal, maybe a bit higher to 1.3650?
So many red icons on the calendar. It's really going to be an interesting 36 hours to end the week. Trade safe guys, good luck!

Back later.
I have no clue what I'm talking about.
  • #3,208
  • Dec 5, 2013 7:30am Dec 5, 2013 7:30am
Quoting The Fool
Apple to sell iphones in China with China Mobile http://www.thestreet.com/story/12138...o&cm_ven=YAHOO CHL never been above $60, above $56 premarket, will be watching for a run on a new high {image}
I agree we could have a run up. We will see how this one plays out. Thanks for your post The Fool
If you think you can or cannot do it you are correct
  • #3,209
  • Dec 5, 2013 7:47am Dec 5, 2013 7:47am
Quoting Olu
Woke up to find my 80.40 area severely attacked but gold and silver still holding below resistance at the moment despite strength in the euro. Not the way it should be at all. took a small short in silver though with a tight(er) stop. Cocoa and Coffee and $ index are on serious watch today Olu
Closed out the silver short I took just below resistance on this downdraft to 19.30. Back to work now
If you think you can or cannot do it you are correct
  • #3,210
  • Dec 5, 2013 7:51am Dec 5, 2013 7:51am
Quoting rehab
My alternative gold senario seems not able to proove itself. Nice-the bulls league is winning again
Yes Rehab
the DBL nailed this one
If you think you can or cannot do it you are correct
  • #3,211
  • Dec 5, 2013 8:13am Dec 5, 2013 8:13am
Quoting Boy Wonder
{quote} I am wondering though if we get another final one to seal the deal, maybe a bit higher to 1.3650? ...

yes it has happened. The euro has reversed again to the upside...

Olu
If you think you can or cannot do it you are correct
  • #3,212
  • Dec 5, 2013 9:02am Dec 5, 2013 9:02am
Srt

Coffee is misbehaving...
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If you think you can or cannot do it you are correct
  • #3,213
  • Dec 5, 2013 9:50am Dec 5, 2013 9:50am
Cocoa
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If you think you can or cannot do it you are correct
  • #3,214
  • Dec 5, 2013 11:00am Dec 5, 2013 11:00am
Quoting Olu
{quote} Hi BW I follow the TLT etf and a while back I posted a chart saying we are going to new lows. Glad to see/read corroborating opinions Olu

Yep...higher rates a coming....
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  • #3,215
  • Dec 5, 2013 11:26am Dec 5, 2013 11:26am
Quoting Olu
{quote} Yes Rehab the DBL nailed this one

Now I see that the alternative senario might be working...gold rejected the support and $ seems trying to drop again...I still think that the weekly close is the proof.
  • #3,216
  • Dec 5, 2013 12:29pm Dec 5, 2013 12:29pm
Quoting golferfx
{quote} Yep...higher rates a coming.... {image}

Hi Golfer

It appears to be as reality that despite QExxxxx rates are going up. World bond yields are rising.... short bonds is the way to go.

Olu
If you think you can or cannot do it you are correct
  • #3,217
  • Dec 5, 2013 1:10pm Dec 5, 2013 1:10pm
It is really confusing-just like yesterday. I am out and will not watch till after NFP, so till next week guys!
  • #3,218
  • Dec 5, 2013 6:10pm Dec 5, 2013 6:10pm
Quoting Olu
Srt Coffee is misbehaving... {image}

Yes Olu, closed right on support with 2nd bearish day in a row. Tomorrow is decision day. A close below 106 probably sends it to test the previous low & possibly new lows. Needs to close above 112 for the bulls to get any traction.
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  • #3,219
  • Dec 5, 2013 7:14pm Dec 5, 2013 7:14pm
Quoting rehab
It is really confusing-just like yesterday. I am out and will not watch till after NFP, so till next week guys!

I hear you Rehab. See you on Monday

Olu
If you think you can or cannot do it you are correct
  • #3,220
  • Dec 6, 2013 12:27pm Dec 6, 2013 12:27pm
1.3720 is an upside target on EURUSD, the top of the bull channel meets a measured move upwards. It'll probably hit on Monday. Funny how cable has turned weak over the last few days. This is visible also in the EURGBP cross. Given the fundamental outlook for the UK vs Europe it's *interesting* that cable is weakening against euro. Maybe I'm guilty of confirmation bias but that just confirms for me the stinky rotten smell of this euro strength. It stinks to high heaven of a countertrend squeeze and I am holding all EUR (and GBP) shorts, they will prise them from my cold dead trading account and looking for first the 100DMA then the 200DMA and then 1.30 on EURUSD in the coming months.
I have no clue what I'm talking about.
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