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Well I for one am sure having fun.BullBear52x wrote:it's all good and fun .... really!
here is the song for you http://www.youtube.com/watch?v=53Eqe-mDB5sAl_Dente wrote:Well I for one am sure having fun.BullBear52x wrote:it's all good and fun .... really!
And here’s some silly to add a level of wacky to your day… see u tomorrow
http://www.youtube.com/watch?v=0TOxhzAm7fY&feature=fvsr
as a trader we need to understand counter trending is dangerous, resistance never guarantee the move will end there. if you are not counter trend you would never nail the top or the bottom but have to take into account the risk associate with it, your draw down and all. pick the high and low of it here's good one just for educational purpose only I use NYMO and TRIN for example, this maybe too basic for most but just something to talk about.stevej wrote:I don't know if I would call it fun; more like interesting. When they pump it up overnight through resistence; it shows how real the risks are, and when reality happens they will have reduced the pain. I would act accordingly given the ball was in my court. There is no reason for the movement we see and indicators only work when the boys are not playing their game. Think about it, a 50% or larger haircut is by definition a default; unless you simply say it is not. Problem is getting the people who realized the loss to believe you.
Indicators should not tell us what to do anyway…In that sense they do not “work” or “fail to work”. They only emphasize a state of the market, to be interpreted according to our understanding. This includes the timing of various types of intervention.stevej wrote:I don't know if I would call it fun; more like interesting. When they pump it up overnight through resistence; it shows how real the risks are, and when reality happens they will have reduced the pain. I would act accordingly given the ball was in my court. There is no reason for the movement we see and indicators only work when the boys are not playing their game. Think about it, a 50% or larger haircut is by definition a default; unless you simply say it is not. Problem is getting the people who realized the loss to believe you.
Thanks for your comments etc., but the recent down draft in the Euro hasn't been cruel to equities why would a move higher now be positive. The correlation seems weak at the moment.TWT wrote:EURUSD: Another Bottoming Attempt
if the EW pattern that I am following is the correct one, in my opinion EUR is in the prcess of establishing the bottom of the second wave (A) of a Double ZZ off the May 2011 Top.
In addition to the daily momentum positive divergences we also have a weekly Doji, which can be a bottoming candlestick.
If Price has established the bottom of the wave (A) then we should expect a multiweek countertrend rebound (3-4 weeks) with a target in the range 1.3240-1.3434, probably the falling trend line will not be breached.
Prior to the 0.382 retracement we have the 1.3143-1.3210 horizontal resistance
The 20 w and weekly gap fill at 1.3384 could be a magnet.
In addition to positive divergences and a potential weekly bottoming candlestick we need an ending pattern which has to establish the bottom and allow price to initate the secuence of higher highs/lows (15 min ; 60 min; daily time frames)
Regarding the ending pattern, it is not a clear one but if the DX Ending Diagonal pan out then the EUR could also have traced a wedge. Therefore as long as price down not kill it I am assuming that we also have an ending pattern.
The first step is to close by tomorrow today´s gap down at 1.2677 then to achieve an eod print above 1.2878.
If the EUR in on the verge of tracing a wave (B) then it will be a big positive for the equity market
It is a "fear" indicator for the European debt crisis ::::::::::::SB73 wrote:Thanks for your comments etc., but the recent down draft in the Euro hasn't been cruel to equities why would a move higher now be positive. The correlation seems weak at the moment.TWT wrote:EURUSD: Another Bottoming Attempt
if the EW pattern that I am following is the correct one, in my opinion EUR is in the prcess of establishing the bottom of the second wave (A) of a Double ZZ off the May 2011 Top.
In addition to the daily momentum positive divergences we also have a weekly Doji, which can be a bottoming candlestick.
If Price has established the bottom of the wave (A) then we should expect a multiweek countertrend rebound (3-4 weeks) with a target in the range 1.3240-1.3434, probably the falling trend line will not be breached.
Prior to the 0.382 retracement we have the 1.3143-1.3210 horizontal resistance
The 20 w and weekly gap fill at 1.3384 could be a magnet.
In addition to positive divergences and a potential weekly bottoming candlestick we need an ending pattern which has to establish the bottom and allow price to initate the secuence of higher highs/lows (15 min ; 60 min; daily time frames)
Regarding the ending pattern, it is not a clear one but if the DX Ending Diagonal pan out then the EUR could also have traced a wedge. Therefore as long as price down not kill it I am assuming that we also have an ending pattern.
The first step is to close by tomorrow today´s gap down at 1.2677 then to achieve an eod print above 1.2878.
If the EUR in on the verge of tracing a wave (B) then it will be a big positive for the equity market