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Did you guys see this one. Talk about squawking. Boston, October 3: With markets very quiet so far in the States, dealers are looking at what if scenarios. One of the more interesting points of conjecture is at what point does Warren Buffett throw in the towel on his bearish USD bet...

Well, Thursday evening 9/29 and I would say we are officially in coiled spring status. Wonder if we will have to wait thru the weekend and into next week before top or bottom of monitor blows off.:eek:

USD/JPY = 117

Yes. I see both of your points and in general I agree. I think I may have got us off on the wrong track with this discussion. It was not my intent and this is not part of overall trading plan. If this starts occurring a key s/r level, I just take notice. Good points both of you.

Paul, In general you are absolutely correct. Many times, particularly in the Asian session, you can watch the bid (or ask) get smacked up the ladder. It just gobbles everything up. It can be helpful on short term trades and to get a handle on support or resistance levels though. The fact...

Okay. I have officially lost my mind on this. Here is some supporting long term trendlines that make me think we are at the bottom of the channel and headed up. Who knows what I will think tommorrow. Coinz must be getting to me. Let's argue about this for a while. :D

I tend to side with Coinz in the near term, we need some Eur strength. It is hard to imagine how much more we can slide in the near term.

I don't really care if it is a CB, Hedge or anyone defending option positions, only that major orders are showing up. I just took a snapshot of the Swissy on the CME. Do you notice anything that might be a clue in the order matrix. Do you think these were buy or sell orders? Incidentally...

Okay. I understand perfectly. Thanks for clearing it up.

I did read a post that you had made about this before. Quite honestly, I am weak on this subject and would like to learn more. Can you elaborate on this any or maybe point me somewhere to do some reading?

I do not trade spot. I trade Euro FX (futures). My trades are normally trendline driven. I am only short from 1.2192. I like to trade the 987 minute chart, but that is not always the case. Depends on the set up I see. Sometimes I trade the 233 minute chart, or the hourly. My goal is get myself...

I am not saying that I am calling the down move, only that the current level will be the catalyst for a move back up or move on down. Are you saying there will be no test of the low, just a move up of 200 pips? If so, why do you think that will be the case?

Looks like this may be a MAJOR KEY WEEK for EURUSD traders. If not this week, then certainly soon. The bottom area of of 1.1867 to 1.1977 that is only a few ticks away will almost certainly be tested. If it does not hold here, I think (key word) the pair could head back to the 1.0563 area in due...

Drawing trendlines is more of an art than an exact exercise. You can draw them based on open, low, close prices for instance. Based on linear regression or others. What I do is attempt to as many common points as possible, then if you have extremes draw another line at this point. I like to...

I really do not have a good answer because I have used trendlines with shorter time frames...however, trendlines are trendlines and they work thru all time frames.

If you will tell me what you are trading I will take a look at it on a 3-5 minute basis and see if I can come up with anything. Off to soccer games today or futbol if you are from any other place on earth.

I think you are correct. Was more of a jest than being serious. I do not advocate trading news, only fading it.

Nice calls on this one!!!!!!!!!!!!

Here is the result. I remember debating whether to get out of the market before the fed annoucement. I decided not too and it was a bad decision. I generally always get flat. (This is another topic though). You could have enterd at the bottom of this channel near the NY close. For any of...

Recently the Euro FX was in a well defined hourly downtrend channel. Just play around with the highs, lows and extremes and you will find it. I like to watch for false breakouts of these channels, particularly news related. Many times price will snap back in the channel and continue on its...