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cAt, have you seen this Adv yet ?? http://swineline.org/media/
We won't know real impact of Portugal rejection news untill Euro open tomorrow, Could be in for a big drop but also can be countered by ECB still hinting at rate increase in April !! LOL
Best statement ever!!! "Most trends last a lot longer than most traders seem to realize til they go broke trading against it!" I hope many newer traders than us see this!! Kudos SG
SG, too many of us get zeroed in on the shorter time frames. It is fine if you are looking for 10/20 pip swings but to say EU is in for a big drop , and I mean at least the weekly avg range of 300+ pip, based on a 4 hour chart I think is unrealistic. At least this is what I am beginning to understand. the avg daily range for EU is 135 pips YTD and the weekly is 340 pips. Granted, the past few days have been unusual and daily range has been above the avg but the uptrend remains intact and it will take much stronger fundamentals to make a change. Europe will run out of steam and the dollar will recover at some point but not yet. The Europeans, Trichet, are determined it seems to befuddle the world with insinuations of rate increases (hawkish) at the same time Bernanke and crew carry on being (dovish). It is going to take some very solid indication of improvement in USA to get this trend turned and for now as long as people are still losing jobs and houses there is no light on the horizon yet!
When EU starts going down 200 pips a day, for several days in a row, then it might be time to say EU will drop. JMO
Or perhaps because the UN has sanctioned no-fly Zone over Libya and military action against Gadaffi ??
Intervention done, trying small UJ short for some retrace
That is 1Hour chart
Hi cAt, how is your trading going? Noticed you mentioned NZD and AUD short, are you trading longer term or still intra day?
I am currently short EU and GU, so I guess we are both going for dollar strength.
SG, sometimes I think this is my std way of trading!! LOL
"in demo trading I actually entered trades that were intentional losers from the start....sounds crazy I know ...but I did that to see how well I could dig my way out of the hole and turn a profit."
SG, you might be ugly but I am sure your wife family and business keep you young!! LOL
Seems like FOMC was a non-event!!
Nikkie below 9000!!
cAt, do you use skype?
LOL, I am up 45 pips on AU and 12 pips on EU !!
I have 25 pip grid, yours is 50 pip, funny how things can look so different, can kinda see it on yours from 15:00 on
Need to find the direction first, I just have a range for both ways. Hey do you know what an "M" candle formation indicates, nice one on the AU 15 min right now
I was thinking this could be the 5th of a higher scale 3rd, starting in Jan, to qualify it has to each 4120 to be longer than the first wave
The X's are levels met, both long and short
Careful Pennies, Friday! Many will be unloading short positions after a good down week and that can fake the price higher I think
BREAKING NEWS: Japanese Yen spikes lower after amid reports an earthquake has hit Tokyo
11 Mar 00:54:39
BREAKING NEWS: Japanese Yen spikes lower after amid reports an earthquake has hit Tokyo
11 Mar 00:54:39
I caught this one, price alarm just woke me a few mins ago, placed +30 pip s/l!! link to chart below
http://investorshub.advfn.com/uimage/uploads/2011/3/9/z[ucoEU15.png
Yep stuck between a rock and a hard spot, the 50ma is coming down and the 200 going up, gonna blow one way or the other, BOE rate call tomorrow. Has to break the flat channel for direction I think but need to watch for a fake break on news though. JMO