gold is more expensive to trade with (much more volatile)...if got money...i'll probably short on gold for a week or so

hm..imo, rate cut or not (for ECB), USD and Yen will continue to gain its strength against other currencies. In this period of time, normal fundamentals do not apply, i.e. good report prints = currency gain, bad prints = currency down. Now, everyone is flocking towards the safe haven of USD and Yen - their government bonds, notes, and bills. Both US and Japanese government are well aware of this situation, where a further strengthening of their currencies will cause much more damage to their already severely damaged economy. So, keep all eyes and ears locked into CNBC and Bloomerg, and keep a close watch of historical S/R.

happy trading guys

hm...when Japan session starts?

hm..careful on Yen and USD pairs...G7 will try to devalue both currencies soon, i would expect in this week, or early next week.

hm...i think i posted somewhere here before (few weeks back i think)..lol...anyway, policy makers will soon step in to stop people to seek safe haven in USD and Yen, especially in the government bond market. Both strengthening of USD and Yen is killing their economy...well, typically, it's killing everyone. Most companies called for losses due to currencies losses. Late last week, G7 announced that they will step in to stop the appreciation of the Yen, but today we still see the Yen gaining. Perhaps by this Friday, they will announce their measures.

After that, it may end this trend. if it does end, then time to look for the next place monies would go..

rounding top on GJ?

not a flag...the flag formation failed..

no worries...actually, 15 pips is good enough for a day...

it can be $1.5, $15, $150, $1500....you get the point IMO, it's always best to learn how to earn pips first, rather than looking at $$$ just my $0.02

there are tons of reliable brokers on the net, just like you.

is it me, or do i just found it annoying when someone says "play" forex, rather than "trade" forex.

hmm...major reports for US coming out later tonight...it'll be a bad print. Seeing how the price action of commodities, I believe monies will fly back to Treasuries.

OT:
Ford - $1.98 per share

ops...i mean..oil price has breached through $60, while other commodities, especially metals, arent showing signs of good bull reversal. This means, fear of slowing growth remains, where this fear is gaining in strength. The recent bull run of USD is due to the overbough of US Treasuries, i.e. it's bill, note and bond. Though we saw a decline of the Treasuries for a week or so (as i said earlier bout how people are leaving the safe haven), i believe, the bad prints today, monies will go back to the safe haven of US Treasuries, hence the gain of USD against other currencies.

p.s. it's be a volatile move, trade with SL or use high time frame. Good luck guys.

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Added on November 7, 2008, 9:29 pmedit: European gov bonds are rising

This post has been edited by small-jeff: Nov 7 2008, 09:29 PM

hm...Treasuries up for sale today, but wall street will close 1430ET, tomorrow US public holiday.. kinda expecting EU to fall back to 1.2662..

wow...oil made new low...careful on the market guys...

can trade...but on a longer TF. It'll be rather volatile on shorter TF. If there's any BO, wait for it to close in that particular TF, it might just test the price level.

add: little view on GJ


Attached thumbnail(s)

hm? chart prices?

on the bail out on GM, perhaps?

i shorted on EU around 2583...but closed now..a little too early i guess

My outlook on EU still that USD will still gain strength for a short time horizon, due to the break of oil at 59, continuous falling economies and commodities, while 10 yr Treasuries shows slight up move, and etc etc. I would like to see oil to have a strong rebound on 56, hence the short break on USD bull run.

hm...i wouldnt focus too much on US indexes. Monies are just too scattered for the time being.

added:
bailing out GM is bad. Not bailing out GM is worse. In addition, GM's price fall to a price to decade low, if bail out plan pass, time for greed to make its way

This post has been edited by small-jeff: Nov 12 2008, 08:58 PM

I just hate it when any market makes a dive/rocket move...

hm...i think one point not to forget is the expectation that the prints will be bad. Though in last 2 weeks or so, basic fundamentals seems to be coming back, but not fully.

Adam, how's the Oct new Treasuries' sale? got info bout it?

oil might just dive to 56 on wall street opens..