06/27/2011 Intraday Watering

[Cobra]

didn't go as I think (failed breakout) but i'm still a little bullish biased. seems like a little bigger ascending triangle.

[soku]

how could you read volume of currencies..... everytime DX touches 76 it reverses recently.

for futures, the vol is there. /dx vol is always thin. try the currencies like 6e 6j
in spot market, u can only get vol from the broker u subscribe, but there are independent service providers summarizing major broker houses which will cover about 65-80% (per ad). not accurate but a good proxy to watch for vol spike.

I trade DX futures and E7, AUD. But I don't think that volume is representative. but I do check COT of those.

1 thing we agreed upon is activities in futures market cannot be used as single source. vol of futures, cot report are both on futures. u r missing 1 big piece here. it is the spot market which is actually bigger than the futures market. major currencies, cross pairs. the volume services on spot market is not cheap, but i think u need that if you are scalping currencies.
/dx is not tradable to me. i check if from time to time to make hedge decision tho.

[MajorEasy]

unleaded gas $3.17 per gallon at the 7-11 today
about .65 per liter

[Cobra]

2 measured targets, coincidence? so still think the Friday's phantom bar has already set our destiny today.

[Cobra]

good, maintain the target.

[millie]

would love to know if these phantom bars are for real, future markers that is.
Imagine if you knew 100% they were valid targets, bet the house on it and retire, lol.
Great job as ever snakeboy.

[jamesmith]

good, maintain the target.

up up up~~~ ole ole ole~~~ up up up~~~ ole ole ole~~~ :mrgreen:

[Cobra]

good, maintain the target.

up up up~~~ ole ole ole~~~ up up up~~~ ole ole ole~~~

up up up ole' ole' ole' up up up ole' ole' ole' up up up ole' ole' ole'

[Cobra]

a little key point here, resistance or overshot if bulls cannot show strength here, but overall, i'm not worried for bulls.

[BullBear52x]

This could be last sell the Rally, once it trades above 5dma and mid BB I will be a bull. right now still a sell.

[Anaconda]

This could be last sell the Rally, once it trades above 5dma and mid BB I will be a bull. right now still a sell.

I just re-opened near-term short, as well. If we breech 1285, I will re-evaluate.
A.

[bbc]

how could you read volume of currencies..... everytime DX touches 76 it reverses recently.

for futures, the vol is there. /dx vol is always thin. try the currencies like 6e 6j
in spot market, u can only get vol from the broker u subscribe, but there are independent service providers summarizing major broker houses which will cover about 65-80% (per ad). not accurate but a good proxy to watch for vol spike.

I trade DX futures and E7, AUD. But I don't think that volume is representative. but I do check COT of those.

1 thing we agreed upon is activities in futures market cannot be used as single source. vol of futures, cot report are both on futures. u r missing 1 big piece here. it is the spot market which is actually bigger than the futures market. major currencies, cross pairs. the volume services on spot market is not cheap, but i think u need that if you are scalping currencies.
/dx is not tradable to me. i check if from time to time to make hedge decision tho.

That's a false assumption you are making here. Based on a beginner's book in 07 or 08:

BIS estimates that the total foreign exchange (FX) market in 2007 had
a daily trading volume of $3 trillion. This includes the spot market and
forwards, futures, options, and swaps. The spot market accounts for about
33 percent of the total daily turnover or about $1 trillion. According to
BIS Triennial Surveys, the proportion of spot transactions among all FX
trades has been decreasing; in 1989, spot represented 59 percent of all FX
trades. In 1998, spot accounted for only 40 percent of all FX trades. Of the
$2 trillion of daily FX volume that is not spot, $1.7 trillion is contributed
by FX swaps.

[Cobra]

almost there, bulls still need show strength here otherwise this still is overshot. but again overall, i'm not worried about bulls, a pullback or consolidation here is not bad.

[soku]

it seems friday high (1279?) will be tested.

[Cobra]

gap resistance, another key point. whether this is a sell-able rally or something else, we'll get a little clue soon...

[BullBear52x]

How long you think DBV will be able to hold on 24 level. the Greece bail out will tank the euro. this will be a game changer me thinks.

[agnosia]

gonna try a small short @ 1280 /es

[Cobra]

could see a pullback or consolidation here. very subtle here, let's how pullback or consolidation unfolds before making my next call. P.S. Look at my eyes:

[soku]

That's a false assumption you are making here. Based on a beginner's book in 07 or 08:

BIS estimates that the total foreign exchange (FX) market in 2007 had
a daily trading volume of $3 trillion. This includes the spot market and
forwards, futures, options, and swaps. The spot market accounts for about
33 percent of the total daily turnover or about $1 trillion. According to
BIS Triennial Surveys, the proportion of spot transactions among all FX
trades has been decreasing; in 1989, spot represented 59 percent of all FX
trades. In 1998, spot accounted for only 40 percent of all FX trades. Of the
$2 trillion of daily FX volume that is not spot, $1.7 trillion is contributed
by FX swaps.

can i know which false assumption i made?
futures market is regulated. the volume is always you can see. forwards, options and swaps are not. usually the size is way bigger that futures, structure is way more complicated and very hard to estimate. otc market is bigger than regulated market in most products. they are not the same.
spot market is about 1t. do u know the size of futures market?

[Anaconda]

could see a pullback or consolidation here. very subtle here, let's how pullback or consolidation unfolds before making my next call. P.S. Look at my eyes:

Unhealthy volume for what should be a real surge here, given the past few weeks, don't you think? Doesn't feel like a committed uptrend to me.