EU, tomorrow, up or down?

it's more of a spinning top...

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Added on October 6, 2008, 12:21 amand there's a bullish divergence too...but yet to make a turn..

This post has been edited by small-jeff: Oct 6 2008, 12:21 AM

not stupid questions lar...

indicators like RSI and stochastic have higher lows, while price has lower lows. from the looks of it, to make it a divergence turn, it may need to dip down a little before turning around.

from the chart, can see rsi and stoch making higher lows, while price is making lower lows. not a pro on this...haha...might be wrong

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Added on October 6, 2008, 12:35 ami dont think daily chart's candlestick will differ much between brokers

This post has been edited by small-jeff: Oct 6 2008, 12:35 AM


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EU...vomit blood...opened gap lower by 100+pips...European session opened, lets see it'll make an up move or not..

shitty Fed...shitty Treasuries, today only drop....

if you wonder what's the cause...read below...

tried that once, never tried it again..

i prefer more on a healthy move, with corrections along the way. Seems like Japan never did recover since late 1990s...

next thing to look for....cut the freaking Libor!!! Rollover on EU (buy) is -20.0 for mini... lol

This post has been edited by small-jeff: Oct 8 2008, 08:15 PM

Fed and other banks including those in europe and china already cut lar

Libor is the borrowing cost from banks...since most tradings uses leverage, which borrows from banks, the leverage we use will be more expensive. On economical point, businesses will find it difficult to borrow money to expend their operations.

not too good in explaining, maybe you can google it for better understanding..

with an abcde correction?

enough profit from EU...time to relax...haha...

add:
1) strong support at 1.3600...also the daily pivot
2) 5m down move unable to make it to 5th wave, reverse at support


This post has been edited by small-jeff: Oct 8 2008, 10:01 PM

hm...no entry point for me thus far...

TA time...a bear flag shown on EU daily, flag may end next week. no clear direction at this moment...while EU is on a struggling up move channel...market would surely need a good surprise this time

perhaps the only nation looking good economically left is....China.

@kelvin
last week i expected an up move (even though i hate making expectations on the market)...but with the given the outlook of this week, no idea where's the direction now. Sentiments and monies are rather scattered, but on plain TA (which i don't rely solely on its own), the bullish reversal on EU may fail by next week. Breaking the support line of the up move may cheat away with quite some pips though.

Just my opinion

This post has been edited by small-jeff: Oct 9 2008, 09:19 PM

dont mention it...i'm an amateur myself

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Added on October 9, 2008, 9:27 pmEU seems to make an up move...but i'll wait and see on this one

This post has been edited by small-jeff: Oct 9 2008, 09:27 PM

oooh....bad call...(me)

This post has been edited by small-jeff: Oct 9 2008, 09:30 PM

made bout 10 positions this week, rest on tuesday...only 6 trades based on TA got right...the others are losses

haha...the milk thing is just a short term thing, unless they keep producing such products. Not to forget, China itself is a huge market. With the recent slow down, even as the shares drop, it's still not in the state of recession. The reason, it has a rather sustained 11% growth, the current slow down reduced it to 8%, a rate which typical nations would have considered a good rate at good times...

i never forget how human reacts

china's economy doesnt depends on dairy products...plus, it's not the fist time poisonous products got out into the market anyway, and China is definitely not the first. And it certainly wouldnt affect much on the FDIs, which includes a vast of semi-finished products. One wouldnt open up their tv to check for any components made in China, wouldnt it? In fact, the current slow down, and the drop of commodity prices, would even further reduce concerns of inflation. Cheap and skilled/specialized labours, considerably better than average technologies availability, and the 1.3bil population market, etc, are still the main focus.

If US, Europe, Japan, Brazil fail, or take a decade or so to recover (Japan hasnt recovered since 1990s), China would be the next power house. US's boom after recession has been lowered in terms of GDP since 1920s, especially apparent from the last one.

anyway, back to forex

EU's move is damn ugly the whole week....losses....shouldnt be greedy to recover

yeah..kinda agree with dr2k3...scalping with basic TA still work. However, using patterns sometimes would be invalid. Scalping small pips with higher leverage (managed) could still do the trick. However, SL would require to be higher than in normal times..

very true...each trade's risk has been increased substantially, considering risk/reward ratio...even when world central banks are pumping money, it just seems to fail horribly. As time passes, the $700bil bill may not be enough at all.

this i dont get it...The fed ordered freddie and fannie to purchase $40bil of troubled assets PER MONTH...dont think they'll buy at fair price. So, what are they going to with it after buying it over?