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  • #941,281
  • Dec 4, 2014 12:55pm Dec 4, 2014 12:55pm
Quoting Vermillion
{quote} 1.220= next intraday support after 1.230 is breached. I assume that most newcomers are impatient to get their profits, and I expect 1.230 to be breached soon. Note that I said AT LEAST 1.220. I'd look for 1.20 to be the mininmum. There's probably a bounce around that mark, so we'll have to see what goes on at that price.
I hope the monthly chart is clear. I see a very strong support at the moment:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD monthly.JPG Size: 159 KB
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #941,282
  • Edited 12:57pm Dec 4, 2014 12:56pm | Edited 12:57pm
I completely disagree with these targets (at the moment) unless the monthly support is breached. With all the QE news, no one is taking a second to think if it is even legally possible. Anyways, I wish everyone good luck with their trades.
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #941,283
  • Dec 4, 2014 12:58pm Dec 4, 2014 12:58pm
Quoting Panco
{quote} I hope the monthly chart is clear. I see a very strong support at the moment: {image}
Which is 100% guaranteed to be breached next year, possibly earlier. The European Central Bank only delayed QE; it's pretty much inevitable given that Europe is going to face an issue with deflation. The ECB is nowhere near meeting its inflation % goals, and they're going to move to prevent deflation, albeit at the last moment.

When that support is breached, expected heavy selling. But for now, The market is choppy, and I give it 50/50 between retesting 1.245 and going back down to 1.230.
  • #941,284
  • Dec 4, 2014 12:58pm Dec 4, 2014 12:58pm
Quoting Panco
{quote} I hope the monthly chart is clear. I see a very strong support at the moment: {image}
trendline doesn't even fit
  • #941,285
  • Dec 4, 2014 1:01pm Dec 4, 2014 1:01pm
Oh dear. I think the EUR/USD is dead until the start of the Tokyo Session (5 hours from now). But I don't think the price will stay here until tomorrow; by the Tokyo market, we should see the retest of the highs caused by the ECB conference or a reversion down to 1.230 levels.
  • #941,286
  • Dec 4, 2014 1:02pm Dec 4, 2014 1:02pm
Wow, had a long at 1.3773 and pulled out at 1.3700. Took a big L, should have been more patient and now I down from a short at 1.2310. Hope it dips back down fairly soon.
  • #941,287
  • Edited 1:04pm Dec 4, 2014 1:03pm | Edited 1:04pm
Quoting Vermillion
{quote} Which is 100% guaranteed to be breached next year, possibly earlier. The European Central Bank only delayed QE; it's pretty much inevitable given that Europe is going to face an issue with deflation. The ECB is nowhere near meeting its inflation % goals, and they're going to move to prevent deflation, albeit at the last moment. When that support is breached, expected heavy selling. But for now, The market is choppy, and I give it 50/50 between retesting 1.245 and going back down to 1.230.
I didn't want to get into this but I guess I will quickly. Do you know that a sovereign bonds purchasing program is a violation of the EU treaty and against the German constitutional law? Why do you think it was never done before in the euro zone? All this QE nonsense some of you are hearing on the news (such as CNBC) is to give rating as it makes a great story. In reality it's just empty words. If Draghi does go into this, the market will react of course but then correct everything when what I said is published all over the place. Draghi pulled it off once with the OMT and tricked the market, which did of course pulled the euro zone out of its mess back in 2012. Can he do it again? Well, that is debatable. You wont find much info on what I wrote here, maybe next month.
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #941,288
  • Dec 4, 2014 1:03pm Dec 4, 2014 1:03pm
walking dead binge watching.. bbl


2125 path
still not in..
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 35 KB
those who can, do. those who cant, talk about those who can
  • #941,289
  • Dec 4, 2014 1:04pm Dec 4, 2014 1:04pm
Quoting Myo
{quote} trendline doesn't even fit
Of course it does, why not?
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #941,290
  • Dec 4, 2014 1:05pm Dec 4, 2014 1:05pm
Quoting Myo
{quote} trendline doesn't even fit
this you need to redraw that to not fit what you want it to fit and what it actually is there's room down to 1.22-1.21 before the bottom is broken...
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 49 KB
  • #941,291
  • Dec 4, 2014 1:07pm Dec 4, 2014 1:07pm
This time I am off, got some things to do. My advice to whoever is reading this is to tale nothing for granted. Keep researching everything yourself and do not act because someone famous said so. Read, study, perfect, key to success.

Good Evening
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #941,292
  • Dec 4, 2014 1:08pm Dec 4, 2014 1:08pm
Quoting KidSupreme
Wow, had a long at 1.3773 and pulled out at 1.3700. Took a big L, should have been more patient and now I down from a short at 1.2310. Hope it dips back down fairly soon.
I don't recommend following a trend right before a major news update that was expected by many to lead to a bounce in the opposite direction.

The EUR/USD was slowing its bearish descent and waited for the ECB conference, of which the possibility of full blown intervention was the fear. Since that didn't happen (it was unlikely), it led to a temporary rise in prices.

If you're going to stick with the trade instead of closing it, I'd make sure that the account could handle the absolute worst case scenario of 1.2600 (very unlikely, but since you're not closing your trade...)
  • #941,293
  • Dec 4, 2014 1:09pm Dec 4, 2014 1:09pm
Quoting thegmann
{quote} this you need to redraw that to not fit what you want it to fit and what it actually is there's room down to 1.22-1.21 before the bottom is broken... {image}
We have different quotes, it fits on mine.
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #941,294
  • Edited 1:21pm Dec 4, 2014 1:10pm | Edited 1:21pm
Quoting Panco
{quote} I didn't want to get into this but I guess I will quickly. Do you know that a sovereign bonds purchasing program is a violation of the EU treaty and against the German constitutional law? Why do you think it was never done before in the euro zone? All this QE nonsense some of you are hearing on the news (such as CNBC) is to give rating as it makes a great story. In reality it's just empty words. If Draghi does go into this, the market will react of course but then correct everything when what I said is published all over the place. Draghi...
better yet.. then it implodes... what happens if people see it may?
bbl
those who can, do. those who cant, talk about those who can
  • #941,295
  • Dec 4, 2014 1:15pm Dec 4, 2014 1:15pm
Quoting gatorinla
{quote} i hoping to short 637x
Whoo boy might as well long then lol
  • #941,296
  • Dec 4, 2014 1:16pm Dec 4, 2014 1:16pm
Quoting Panco
{quote} We have different quotes, it fits on mine.
What?? Those would be some big misquotes/quote discrepancies its a monthly time frame should be pretty identical prices regardless of a few pip broker quote difference...???
  • #941,297
  • Dec 4, 2014 1:21pm Dec 4, 2014 1:21pm
Quoting thegmann
{quote} What?? Those would be some big misquotes/quote discrepancies its a monthly time frame should be pretty identical prices regardless of a few pip broker quote difference...???
I zoomed in for you so you can see. The chart is from FXCM, where do you get your charts from?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Monthly2.JPG Size: 161 KB
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #941,298
  • Dec 4, 2014 1:23pm Dec 4, 2014 1:23pm
Quoting Panco
{quote} I didn't want to get into this but I guess I will quickly. Do you know that a sovereign bonds purchasing program is a violation of the EU treaty and against the German constitutional law? Why do you think it was never done before in the euro zone? All this QE nonsense some of you are hearing on the news (such as CNBC) is to give rating as it makes a great story. In reality it's just empty words. If Draghi does go into this, the market will react of course but then correct everything when what I said is published all over the place....
No I dont. Please enlighten me/us.
Don't be smart. Be rich.
  • #941,299
  • Dec 4, 2014 1:24pm Dec 4, 2014 1:24pm
Quoting Panco
{quote} I zoomed in for you so you can see. The chart is from FXCM, where do you get your charts from? {image}
lol dude theyre exactly the same you're drawing the trendline above the bottoms on the monthly...
  • #941,300
  • Dec 4, 2014 1:29pm Dec 4, 2014 1:29pm
Quoting maximinus
{quote} No I dont. Please enlighten me/us.
lol
You cannot learn better without losing
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