i am also SHORT EU !

my prediction

GJ - long
GU - long
EU - Short

based on TF1H , using EW+trendline.

p/s somehow DeMark indicator is strong to do technical analysis

Sorry, have to disagree with you on FA. Cable is the weakest currency among the 10 OECD countries. King and Trichet have different principles on easing the interest rate. KING might reduce to zero while Trichet might reduce to 1.5 or 1. But definitely not ZERO.

My bias still hasnt change, long carry trades, especially when China and India keeps on reducing interest rate. With oil prices this low, its only about time growth will restart.

Is DeMark Indicator good? How long you have been using it

A huge warning for those who are holding short positions in EU, AU. Please be aware that monthly candle are showing reversals pending. Either reduce short positions or place tiny long positions on the dips.

hmm seems like the market isn't going anywhere today

patience, you must wait for wall street see how..

i just noticed that today my broker spreads are insane ..

EJ : 12pips
EU : 9pips
GJ : 24pips
GU : 12pips

haha christmas season ..until early jan ..10 trade eu equal to 90 pips loss only to broker haha

in the long run, EU will continue to short right ?

The economic data from the Euro Zone is getting worst, but the question still lies, how far and how soon will ECB bring the rates down? The next meeting is in January and will ECB cut 0.5, and if they will do what the US FED, and BOJ do? Buying commercial paper, etc.

In the short term, it doesn't look good for euro but it doesn't look attractive for the USD as the Obama administration has already hinted, they will spend their way out of the crisis, which means print, print, print!

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Added on December 23, 2008, 8:49 amAlso, as time goes without any big blow ups, VIX will slowly drift down, and this will hint that investors are ready to come back to equities and other financial instruments. And when that happen, say goodbye to the dollar and treasuries.

Patience, like small Jeff says is important. You cant win every trade.

Follow the trend as the trend is your friend till the very end.

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Added on December 23, 2008, 8:50 amAlso to add:

IF Congress approves another rebate check for US citizens, it will double the effect of LOW gas prices, low FOOD prices. It's like a double whammy for the USD.

This post has been edited by AdamG1981: Dec 23 2008, 08:50 AM

mphpopular


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May I know what pair is this?

???

it is AUD/USD.

thx

Based on Monthly TF, it's time to BUY since the it has oversold & EU is bouncing back.

Master candle engulf 17 candles, break any side of the S+R will be a good trade.

GU chart, H4
Long term view: Long on GU ard 1.47000 area.



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