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  • #377,101
  • May 10, 2014 8:10am May 10, 2014 8:10am
your knock me down with a feather if we then see bullish
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,102
  • May 10, 2014 8:16am May 10, 2014 8:16am
Quoting Bones
I suspect this will have an effect , http://www.bbc.co.uk/news/business-27132563 {quote}
I'm sure it will. Same thing has already been in effect in the USA here. Don't quote me on this but I "think" for over two years or so now? The days of giving just anyone and everyone a mortgage whether they can afford it or not are long over. So this will, and has already effected the dollar as well.

I'm waiting to see if the dollar can break at least 80.00 for the umpteenth try now. It could very well but I have my doubts. And even if it does, will it keep gaining strength for long? All we can do is wait and see.
Ghost Rider - WWTBMD?
  • #377,103
  • May 10, 2014 8:19am May 10, 2014 8:19am
But your a day trader or less ,all we care about is what next were not HDA ,I don't know how big his trade is I'm guessing not that ,
I don't think the market cares about his fib extension at all and that won't be touched ,any time soon ,


Quoting albchr
{quote} Won't argue the correction. Been expecting it for some time at these levels as my posts will bear out. As is usual on these forums, folks are looking at different things. Some the overall trend (my posts today). Some what's happening "within" that trend (your posts today). Neither is right or wrong as it pertains to the other.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,104
  • May 10, 2014 8:23am May 10, 2014 8:23am
so day trader sees shooting star weekly ,prime location ,bearish d1 ,he dosent then look to buy any day soon imo
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,105
  • May 10, 2014 8:30am May 10, 2014 8:30am
Quoting Bones
your knock me down with a feather if we then see bullish {image}
I know there is correlation between EU and GU. I also know that correlation fades in and out through time. As such, I'm forced to look at each individually on the charts and not gauge the performance of one based on the other. (the only common factor being the dollar)

I see GU in a clear uptrend. I see EU likely to be confined within the range it's been in for the past 7.5 months with upward pressure as of now.
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Ghost Rider - WWTBMD?
  • #377,106
  • May 10, 2014 8:32am May 10, 2014 8:32am
Quoting albchr
Pip Anon wrote a nice little reply in this news article below. He also provided a nice You tube link about Peter Schiff and what he was saying in 2005, 2006 and 2007 right before the 2008 crash. Like him, many of us who were saying the same things were literally laughed at and viewed as conspiracy theorists. Well, history has a way of telling the truth nobody can deny. Is he, Marc Faber and folks like Pip Anon, me and others right about the dollar and the US economy now? I won't say but I will advise caution and paying attention to facts (the reality...

Thanks for the info, Albchr, very interesting
  • #377,107
  • May 10, 2014 8:35am May 10, 2014 8:35am
Quoting Bones
But your a day trader or less ,all we care about is what next were not HDA ,I don't know how big his trade is I'm guessing not that , I don't think the market cares about his fib extension at all and that won't be touched ,any time soon , {quote}
Absolutely true. But as a day trader (at least for me), it's important to keep the overall trend in clear view as to decide which is the "safer" direction to trade in. In an uptrend, I'll "risk" less on shorts than longs.

Also, since I one day "hope" to be like HDA , keeping the bigger picture in mind at all times just makes "common" sense to me.
Ghost Rider - WWTBMD?
  • #377,108
  • May 10, 2014 8:42am May 10, 2014 8:42am
Quoting Carlicus
{quote} Thanks for the info, Albchr, very interesting
I like to keep myself focused on "reality" as much as possible. I feel there are three basic types of folks. Pessimists, Realists and Optimists.

I've always considered myself an Optimistic Realist. Staying firmly based in reality while always hoping for the best.
Ghost Rider - WWTBMD?
  • #377,109
  • May 10, 2014 8:50am May 10, 2014 8:50am
@HDA:

How are you doing? Do you have any views or insights on this recent cable drop? Do you think 1.6820 will hold on?
Hope you're fine
  • #377,110
  • May 10, 2014 8:51am May 10, 2014 8:51am
bit worrying that your wondering if 80 will break ,from where I'm standing but guess well have to see ,

Quoting albchr
{quote} Absolutely true. But as a day trader (at least for me), it's important to keep the overall trend in clear view as to decide which is the "safer" direction to trade in. In an uptrend, I'll "risk" less on shorts than longs. Also, since I one day "hope" to be like HDA , keeping the bigger picture in mind at all times just makes "common" sense to me.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,111
  • May 10, 2014 8:56am May 10, 2014 8:56am
I like HDA but he hasn't provided me anything that makes me think he's an amazing trader ,i mean I can see ruff cause he provides outlook with charts even if I don't agree often , if you know what I mean ,


Quoting albchr
{quote} Absolutely true. But as a day trader (at least for me), it's important to keep the overall trend in clear view as to decide which is the "safer" direction to trade in. In an uptrend, I'll "risk" less on shorts than longs. Also, since I one day "hope" to be like HDA , keeping the bigger picture in mind at all times just makes "common" sense to me.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,112
  • May 10, 2014 8:59am May 10, 2014 8:59am
Quoting Bones
bit worrying that your wondering if 80 will break ,from where I'm standing but guess well have to see , {quote} {image}
LOL.... Don't worry my friend. "Wondering" is the key word there. As I posted.....

Quoting albchr
{quote} I'm sure it will. Same thing has already been in effect in the USA here. Don't quote me on this but I "think" for over two years or so now? The days of giving just anyone and everyone a mortgage whether they can afford it or not are long over. So this will, and has already effected the dollar as well. I'm waiting to see if the dollar can break at least 80.00 for the umpteenth try now. It could very well but I have my doubts. And even if it does, will it keep gaining strength for...
Ghost Rider - WWTBMD?
  • #377,113
  • May 10, 2014 9:03am May 10, 2014 9:03am
I see the wording chris ,it does cover all bases I suppose ,but core of what your saying is you think its bearish , anyway
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,114
  • May 10, 2014 9:10am May 10, 2014 9:10am
Quoting Bones
I like HDA but he hasn't provided me anything that makes me think he's an amazing trader ,i mean I can see ruff cause he provides outlook with charts even if I don't agree often , if you know what I mean , {quote}
I understand what you mean Tony. But "charts" are not everything in assessing ones knowledge. Even if we set aside for a moment his long position that he's held since September and his obvious confidence that his exit of 7000 will be met, The prices, levels, supports and options he's posted over and over tell me he clearly knows what he's talking about.

That fib exercise the other night (in my humble view) was just a thing of beauty to go through and opened up a whole new area of understanding for me. Even IF 7000 is never reached, it came within 5 pips and I for one am very grateful for his input here.
Ghost Rider - WWTBMD?
  • #377,115
  • May 10, 2014 9:21am May 10, 2014 9:21am
Quoting albchr
{quote} I understand what you mean Tony. But "charts" are not everything in assessing ones knowledge. Even if we set aside for a moment his long position that he's held since September and his obvious confidence that his exit of 7000 will be met, The prices, levels, supports and options he's posted over and over tell me he clearly knows what he's talking about. That fib exercise the other night (in my humble view) was just a thing of beauty to go through and opened up a whole new area of understanding for me. Even IF 7000 is never reached, it came...
I think he was wrong not closing at 1.69963 just because of 4 pips, even if he is a position trader. But it's his style anyway, I hope he has good luck and can close his position @1.70
  • #377,116
  • Edited 9:37am May 10, 2014 9:23am | Edited 9:37am
Quoting Bones
I see the wording chris ,it does cover all bases I suppose ,but core of what your saying is you think its bearish , anyway
I don't "think" anything Tony. I'm just not convinced it's bullish yet. How many times have we seen a currency or pair "thrust" one way or the other only to see it bounce right back?

I'm neither bullish or bearish on the dollar. That said, given it's past performance and the current situation in the US, it will simply have to prove itself one way or the other to me. Current conditions (too many to list) here in the US don't have me very "optimistic" for any sustained strength "as of now". Just as I felt and said back in March of 2013 when many were claiming the "almighty dollar" would drive GU to 3500. I may be 100% wrong now in my "feelings" on it. But yes, we will see.

In simple terms, I don't predict. I follow the facts until they change in a convincing "longer term" way.
Ghost Rider - WWTBMD?
  • #377,117
  • May 10, 2014 9:32am May 10, 2014 9:32am
Quoting Carlicus
{quote} I think he was wrong not closing at 1.69963 just because of 4 pips, even if he is a position trader. But it's his style anyway, I hope he has good luck and can close his position @1.70
I don't consider him wrong or right. But it is why I posted that to him about how impressed I was with him sticking to his plan. If it were me? And if I can be so bold to say probably most here, I would have jumped ALL OVER banking that long a hold, with that much profit on the line over being within 4 or 5 pips of my target...LOL

But I also understand (and can agree) that he's being paid quite well in swaps for holding the buy. If I were making just that much (the swaps) per day, it would solve my situation here completely.
Ghost Rider - WWTBMD?
  • #377,118
  • May 10, 2014 9:39am May 10, 2014 9:39am
Quoting albchr
{quote} I don't consider him wrong or right. But it is why I posted that to him about how impressed I was with him sticking to his plan. If it were me? And if I can be so bold to say probably most here, I would have jumped ALL OVER banking that long a hold, with that much profit on the line over being within 4 or 5 pips of my target...LOL But I also understand (and can agree) that he's being paid quite well in swaps for holding the buy. If I were making just that much (the swaps) per day, it would solve my situation here completely. ...
By saying he was wrong in my opinion, I wanted to express the same as you have said, but it was shorter to say "wrong" haha
By the way, Albchr, have a look at what I've found about this last drop, don't you think it's interesting?
Ah, and it seems to me that 1.6820-30 is going to be a tough support, according to the chart, it was rejected 6 times before breaking through it, and then recently was a support also on the NFP day.
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  • #377,119
  • May 10, 2014 9:54am May 10, 2014 9:54am
Quoting albchr
{quote} I don't "think" anything Tony. I'm just not convinced it's bullish yet. How many times have we seen a currency or pair "thrust" one way or the other only to see it bounce right back? I'm neither bullish or bearish on the dollar. That said, given it's past performance and the current situation in the US, it will simply have to prove itself one way or the other to me. Current conditions (too many to list) here in the US don't have me very "optimistic" for any sustained strength "as of now". Just as I felt and said back in March of 2013 when...

Hi Chris,

Couple charts from me.
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  • #377,120
  • May 10, 2014 9:57am May 10, 2014 9:57am
GU spec index on COT maxed out 4 weeks ago, and is starting to turn (100 is highest index reading). Once we reach 100 we can expect a pullback. positions are getting liquidated prior to end of May and generally profit taking. I don't think GU will be sold off hard, however it will ultimately pull back to 6640, which will then decide future direction. just my 2 cents. RR.
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