You wish. It went parabolic (up 12000% over 12 months). http://mises.org/daily/2532 For the record I'm not predicting that the dollar will collapse, I'm just saying that this is what you will get should the dollar collapse.
yep..looking at the past 6 weeks...2 weeks grinding down and 4 weeks grinding up. The pattern on this daily looks like it could continue.
I am going to speak a bit about TA for ES. I see the following time frames. 1) Pre-market open. (I never trade this) 2) Sideways action before a report comes out. ( I should not trade this since I got stopped out before when report came out). 3) Morning time frame. Sometimes moves in a trend, and if understood can be taken at key points but should not be chased. Sometimes moves in a range, but should only be taken as long off the bottom or a short off the top if the range is big enough to be able to reach your target while inside the range. Today, we had some upward trend and I was able to take a scalping profit. I could have made a little more if I got in a little lower on a limit order. 4) Lunch time frame. During lunch we may have some counter trend unless the trend is too strong and continues. 5) Afternoon time frame: If you have a strong bullish or bearish trend during the day, you may have a continuation of previous trend after counter trend or a reversal or a range. Use your analysis to determine what is happening, and once you are sure, you can enter a trade but not chase. 6) After market closes then reopens time frame. Really I should not trade it since most traders are gone for the day and its usually sideways action that will stop you out. 7) Late night time frame. For the most part if I know I am going to trade next day, it should be avoided. Also, I traded a breakout of a range and was stopped out when the BE failed. I need to stop taking break out trades. For me, I think the best thing will be to wake up early enough to take the morning time frame and no chasing. If my indicator looks like it will soon turn up or down wait for it, but do not trade off the indicator only base trade with indicator as 2nd confirmation with the current PA analysis and based on the current time frame. So determine what time frame you are in. Then determine if you are in a range or a trend. Finally, only take the trade if you are not chasing. For example, if the market is 2 ticks before hitting your target if you would have seen the trade previously or woke up earlier to see it, don't jump in. You need your target to be far enough away in order to justify the entry. Instead wait for either a pullback or do something else and check back on your charts later to see if a new setup is close. Once you are in a trade, leave it alone until you hit target or stop. Price may spike a little against you before hitting your target, don't get out because of it. Also, if you are either going away or just thinking that you need a little more room for your stop, don't move it since you should have gotten in at a point where your standard stop should work. If you are always getting in too far away from where a stop will work, then you are either chasing or you need to wait for a pullback to get into the trade. You can also use a limit order to get you into the trade. If the market shoots off without you and misses your limit order, then just know it was not meant to be, instead wait for another trade or another day to trade. I saw a perfect TA trade occur earlier than when I woke up with price respecting TA, but I was not awake for it. However, I was able to make a profit on the trade I did take. I saw where I thought price would go, and I had enough room left to get there when I did enter one tick lower on a limit order and exited on a limit target. The only time I exit on a market order on ES for the most part is when my stop converts to a market order. However, this stop will not work right before a report, so I should just not trade until I know the report has already come out. And lastly, if you plan on taking for example 1 profitable trade, and you get a loss, don't jump into another trade since you don't want days with 2 losing trades if you had previously, 2 winning days with 1 trade each day. Instead see what you did wrong and then trade the next day.
Dollar will collapse if the fed keeps trying to hit the jugular. They have to stop before they do and they know it.
4 more points south to BE and 25 additional drop to recoup all the agonies endured last week--vis-a-vis September high.
Not a close the btfd's wanted to see. U notice bulls dead silent right now. None answered my question yesterday if they were long into fed announcement. Maybe the bulls are just day traders.
Suppose the dollar did tank and the stock market does go through the roof. What could you possibly do with the profit you made from the 12,000% rise in stock? NOTHING! Suppose the dollar did not tank because Bernanke, like Volcker, refused to drop the interest rate and the stock market dropped off the cliff--say, 99.999%. What could you possibly do with the loss you incurred from the 99.999% drop in stock? NOTHING! You cannot measure the value of the dollar based on the rise or fall of the equity market.
Still, them btfd gangs did really well. My kudos for that. Who knows, this market might do another u-ey tomorrow, god forbid.
Not going to happen. Nearly everyone is engaged in some kind of money printing these days, its a race to the bottom, nobody wants a strong currency anymore. Besides, what could possibly replace the dollar as the reserve currency of the world now? The euro? LoL (and you know why I lol'd). The yuan could replace or compete with the dollar but thats not going to happen anytime soon, the yuan isn't even convertible yet.