ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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You know I use multiple time frames for price levels.
This time, as EURUSD failed to hold its current year low, previous week low, previous month low, previous quarter low, etc., I am looking for a test of 50% of previous year range. And it is right below around 1.38 and 1.37 if you wanted to use the swing high at weekly level where the break out first started.
Edit: Should that holds, a run to previous quarter low and then current month 50% is possible.
May take a whole week of chop feast before the sell off can resume ... due to lack of shocking news once the weekend drama of Greece and company is over.
You guys got to understand how Wall Street works in the old days, then you would understand how it works now.
A lot of GS and other "estate guardians" businesses, come from simple transactions like rolling over 20 mil bonds or treasuries at 50 basis pts commissions.
Sometimes, for the more adventurous clients, they introduce them to the world of exotic mutliple legs vehicles, like, long bond, short OTC call on the bond, and then use the bond as colleteral to finance a small arb program.
All clients funds, of course. It is not "evil proprietary trading". =)
But, when you aggregated enough clients doing the same thing, whereas these clients are not average joe, but estate holders, who have billions of dollars involved, you can move the mkt the way you want.
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