Eur/USD
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Not a technical trader but...
I think I indicated that by the end of the day... if we didn't crash through 1.2500 (that we did) then I tended to agree with RT about the bottom.
However... with today's break through 1.2500 into the 1.2400s... I think we have not hit bottom.
Next week could bring more of the (downward drifting) same.
dd
1.2513
Hey guys,
On 4 hr+ charts we got 3 major corrective waves down. (bottom at 1.2476)
Then 5 waves up ended today.
This is a strong bull signal. But there needs to be a correction to the 5 wave impulse wave. sideways or deep is the only question. Usually is a deep 78% retrace after a wave like this.
but over all up trend should resume shortly a s/l below the 1.2476 low is a good place.
a wave 2 cannot retrace more than 100% wave 1. Only that will blow the bull theory.
Dave
On 4 hr+ charts we got 3 major corrective waves down. (bottom at 1.2476)
Then 5 waves up ended today.
This is a strong bull signal. But there needs to be a correction to the 5 wave impulse wave. sideways or deep is the only question. Usually is a deep 78% retrace after a wave like this.
but over all up trend should resume shortly a s/l below the 1.2476 low is a good place.
a wave 2 cannot retrace more than 100% wave 1. Only that will blow the bull theory.
Dave
late in todays day session someone was bidding for size in
EUR ... now was this real or "spoof" ... I do not know
the bid was approx 1.2645 for over 500 Eur - fx Sep Futures
now it will be interesting to see if size shows up again
at those levels or if size trades there ( hidden order ) ?
or if the whole thing was a "bluff - spoof" that never
got tested and hour or so ago
EUR ... now was this real or "spoof" ... I do not know
the bid was approx 1.2645 for over 500 Eur - fx Sep Futures
now it will be interesting to see if size shows up again
at those levels or if size trades there ( hidden order ) ?
or if the whole thing was a "bluff - spoof" that never
got tested and hour or so ago
I saw it too. It was at 1.2645 (FX)
Quote from SethArb:
late in todays day session someone was bidding for size in
EUR ... now was this real or "spoof" ... I do not know
the bid was approx 1.2645 for over 500 Eur - fx Sep Futures
now it will be interesting to see if size shows up again
at those levels or if size trades there ( hidden order ) ?
or if the whole thing was a "bluff - spoof" that never
got tested and hour or so ago
Okay the hell with the dollar bull thing.
I covered my trade at 2521 for a 117 point profit. I am now long (a bunch) at .12519.
Makes my head spin. Fed should move the needle tommorrow.
Too much priced in the down move in my opinion.
DRT
I covered my trade at 2521 for a 117 point profit. I am now long (a bunch) at .12519.
Makes my head spin. Fed should move the needle tommorrow.
Too much priced in the down move in my opinion.
DRT
Quote from downrivertrader:
Okay folks. I can't explain why exactly, but this is a day of reckoning. May not seem like it to most, but I can feel it.
I am an official dollar bull from now until further notice. I will be one you love to hate for a while. I think this thread needs it anyway.
The current account data will be the last straw for most. Either today or early next week the dollar will embark on a journey south. I think it will last for much of the summer and into early fall. Commodities will continue to correct and US bond yields will also rise.
My plan is to take some of my amassed fortune and begin to acquire natural resource commodities later this year for the muli year bull run.
I am short ( a bunch) at 1.2638. Here is my near term target where I expect lots of battle and indecision before we continue on south.
1.2435 on or before end of March.
Ultimate target is 1.13 - 1.10
The clue for this was the price action in the USD/JPY, a dangerous indicator. Most feel it is but a trap luring unsuspecting bulls in only to plummet them a little above 115. I know better, it is true dollar strength.
Good luck today.
DRT
(Eternal Dollar Bull for now)
Buddy, that's a COINZ trade!Quote from downrivertrader:
Okay the hell with the dollar bull thing.
I covered my trade at 2521 for a 117 point profit. I am now long (a bunch) at .12519.
Makes my head spin. Fed should move the needle tommorrow.
Too much priced in the down move in my opinion.
DRT
Great work.We're on the same side in this and all, you know, but,
"the clue for this was the price action in the USD/JPY, a dangerous indicator.
"Most feel it is but a trap luring unsuspecting bulls in only to plummet them a little above 115. I know better, it is true dollar strength."
Agree, agree about the dollar flex, for sure, it's the wording, "only to plummet them a little above 115" that I'm a little hesitant to back up.
I've traded USD/JPY from the 104s to the 112s... reverse direction... and... 116s to 115s does not register as a "plummet."
Bearly making it out alive from the trade (800-pts vertical against me), I saw "plummets," that are, when the rate drops 100-pips a day for a week.
That's a "plummet."
Not 116s to 115s.
That's just a fluctuation. ;-)
Best,
dRaWdOwN
Rocketman
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