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EUR and other currencies - recent move

  • #21
  • Dec 29, 2013 1:51pm Dec 29, 2013 1:51pm
Quoting JoeNY
Listen, maybe I'm misunderstanding what you meant here and if I am I apologize... with that said, not trying to be a dic but there's so much bull when it comes to this game it's getting really f-in annoying. I disagree with the statement. {quote} bull... bull... bull... Many had this pegged even amateurs like myself... {image} and then..... {image} over and out......
Joe, we know you aren't a total noob but looking past the obvious triangle pattern... a break up or down would be viable foreseen moves. Usually that move would have been countered with more opposing orders as price went higher but didn't as real traders were gunning for buy stops in a thin market that they could liquidate (sell) in to without moving price much. Its a dirty game and we're just the pawns.

Bank traders had an incentive to move price up Friday through thin markets, nullifying barrier options: Eur/Usd 1.3850, Gbp/Usd 1.6500, & Usd/Chf 0.8800.

From IFR Markets:
Quote
The overnight driver was a surge in EUR/USD that saw 1.3894 paid just before NYC opened. USD/CHF plunged faster than EUR/USD rose due to poor liquidity in USD/CHF. No real explanations provided but the excuse was the Fed's mini-taper left vulnerable EUR/USD shorts that had to be squared ahead of year end (today's spot date Dec 31) Markets are choppy & will remain so through year-end & liquidity key.

Quote
GBP/USD Option interest at 1.6450 & 1.6500 melted away as the execution of barrier options lead to the triggering of stops. The pound continued to rally, in thin holiday markets to a high of 1.6577 before reversing to 1.6475 by days end.
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  • #22
  • Dec 29, 2013 5:00pm Dec 29, 2013 5:00pm
No I hear you brotha..... It's all good...

Quoting skenobi
{quote} I ain't sayin' you're wrong, bro. I only said "for ME, it was only textbook after the fact." I'm sure you have an edge that works for you (as do I for me) and a major principle in trading that I've followed in all the years I've been in this business is that I don't knock other people's way of making money. Anyways, I was just giving my two cents to the threadstarter's question.
SPC * Swollen PocketZ Crew!
  • #23
  • Edited 5:56pm Dec 29, 2013 5:15pm | Edited 5:56pm
I hear ya Bro... I actually love that counter move. I get more pips on the counter than a straight take off due to wasting time waiting for the counter and it doesn't happen. Then I go with the straight take off but a little time has passed. It doesn't matter which way it goes. You trade it. I don't let anything get by me. I learned from other profitable traders to attack everything within your plays. You don't let anything go if you truly believe in your setup. Risk management takes care of the rest. Trade with those dirty bastards.... They can't hide.... It's all on the chart... Up or down I was making money on that bad boy Friday morning...

In the beginning I would read discouraging things and it would bust my bubble. I don't want new traders to get discouraged reading things that are not entirely true. Like I said, not trying to be a dic, it just struck an old bone. It's all good.

Quoting EmeraldEyes
{quote} Joe, we know you aren't a total noob but looking past the obvious triangle pattern... a break up or down would be viable foreseen moves. Usually that move would have been countered with more opposing orders as price went higher but didn't as real traders were gunning for buy stops in a thin market that they could liquidate (sell) in to without moving price much. Its a dirty game and we're just the pawns. Bank traders had an incentive to move price up Friday through thin markets, nullifying barrier options: Eur/Usd 1.3850, Gbp/Usd 1.6500,...
SPC * Swollen PocketZ Crew!
  • #24
  • Dec 29, 2013 5:24pm Dec 29, 2013 5:24pm
AMEN and thank you my Brotha... I did a play by play of it going down on EURAUD in Keyser_Soze's thread here...

http://www.forexfactory.com/showthre...57#post7176057

and I followed up here..

http://www.forexfactory.com/showthre...89#post7176589

Quoting ARTjoMS
Typical parabolic move. e.g. Take a look at AUDUSD on 11.12 and 11.19 and 12.11 - similar principles.
SPC * Swollen PocketZ Crew!
  • #25
  • Edited 6:05pm Dec 29, 2013 5:39pm | Edited 6:05pm
And check this Cat out (Ivivistupid) with his Batman crap. http://www.forexfactory.com/showthre...03#post7176503

He had those Bastards pegged for the short at the peak. He called it almost to the PIP. You could make money all day with this crap using a chart and drawing a few lines. Who cares why these Bastards moved the market... I mean as long as they don't crash the world and put us all into poverty, who gives a F... They make money, we make money...



You don't hesitate, you attack...
SPC * Swollen PocketZ Crew!
  • #26
  • Dec 29, 2013 6:02pm Dec 29, 2013 6:02pm
If bat & butterfly traders could make money all day trading like that, the world would be ran by loonatics! lol. More margin calls and stops were taken out than traders who called Friday's tops or bottoms.
  • #27
  • Last Post: Dec 29, 2013 6:11pm Dec 29, 2013 6:11pm
Quoting JoeNY
I hear ya Bro... I actually love that counter move. I get more pips on the counter than a straight take off due to wasting time waiting for the counter and it doesn't happen. Then I go with the straight take off but a little time has passed. It doesn't matter which way it goes. You trade it. I don't let anything get by me. I learned from other profitable traders to attack everything within your plays. You don't let anything go if you truly believe in your setup. Risk management takes care of the rest. Trade with those dirty bastards.... They can't...
That counter move is swifter than the push up as the move up consumed any standing orders in that area. Took less selling pressure to bring it back down. If you were to short every new low on the 5min chart, could make a nice Xmas profit without much risk at all.
That whole move Friday looks like big guys vs big guys. I'd like to see what banks made that money and which ones lost it.
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