Defcon 3 ALERT for SHORT resumption of EurUsd to continue to MY original target of 0.8713. Hold trigger until I give the signal. -------------------------- But dig this first .... successful Dollar and EurUsd calls since I came to ET in October 2009: (1) US dollar reversal and bullrun CALL October- Nov 2009 (2) EurUsd short target 0.8713 (last page) All evidence here .... including learning mistakes, errors etc. http://www.elitetrader.com/vb/showthread.php?s=&threadid=179167&highlight=DX ----------------------------- (3) EurUsd take short profits and go Long on June 5, 2010 All evidence here ... a perfect call http://www.elitetrader.com/vb/showthread.php?s=&threadid=168825 -----------------------------
Reminder and something for newbies to note: Back in October 2009 when I first came to ET to do my internship, i.e. a brand new trader, EVERYONE was bearish the dollar, they unanimously disliked-hated it. I came in and called an imminent reversal and not only that, I called a bullmarket in US$. Totally preposterous in ET-ers' estimation. See the thread for yourselves, but better still do a simple search for comments about the $. That was when I first came to realize that ET = zero prescience. Now, 9 months later (no coincidence, as a new baby is born ) it is all too obvious that ET is just a HERD, totally reactive and devoid of creative, proactive thought. Crowded elevator always smell different to a midget.
First though, some perspective .... I came to ET to learn realtime trading - never did need help on daily, weekly and monthly as I'm OK in these frames. see my own stupidity in realtime demo trading here as I try out one technique after another that fails to the point where I still don't know how to trade realtime. Its important to figure this out because it will release some huge ability even on the larger timeframes. Besides its never good to give Murphy's Law an open invitation to cause disaster, so I've got to find a way to trade realtime on the low, low frames even if I then don't trade on said frames anymore. That's where I'm at. The demo will continue when I have something more solid. http://www.elitetrader.com/vb/showthread.php?s=&threadid=203216&highlight=demo
http://www.elitetrader.com/vb/showthread.php?s=&threadid=179167&highlight=DX some comments from others at that time when EurUsd had hit 1.51 .... 0.87 ehehehehhe you're quite the pessimistic huh? I hope no one takes your advice Wait for DX to base and breakout to the upside. This can take months or years (this from an ET-er with 6600 posts = oldtimer = expert?) ImPO a bounce in USD is quite likely, but what's also likely is that it will hit 1st resistance & go back into a sell phase. When looking at technicals, you ought try to seek out some sort of fundamental reasoning at the same time, even if it is rather basic. Buy low, sell high might not be the way to go here, ImPO in case of USD, as long as stock markets don't go through a massive panic based decline, Sell Hi & Sell Lo(wer) is the way to go. But that's just my couple of pence (from JSSPMK) and lots more ....
Well Riggs, it looks like you were able to borrow some cash for some coke and here you are. babble, babble, babble, ignore, babble.
EurUsd = 1.2818 right now and going down on 4H ... some thoughts as I wait for a sign of reversal on the Daily chart. (I don't have any as yet). Overhead strong resistance @ 1.3055 EurUsd should rally to at least 1.3116 - 1.3125 approx. = DX @ 81.43 before reversing. If a daily chart reversal has already occurred, then I most certainly did NOT catch it!!!!
Expecting a barrage from the fundamentalists as they usually do, let me just say, I've been watching Simon Hobbs and the rest of the gang on CNBC discussing the european banks stress test - for entertainment purposes only. PRICE has already stated (to me anyway) that the european crisis is not over; that there is only a reprieve since June 7, 2010. So even if some good news comes out, its glory will ultimately be evanescent. Euro will continue to crash toward my stated goal of 0.8713.
w.r.t. DX, USDCHF is a wildcard due to the vertical drop from June 1, 2010. Correction is deeeep, but Bobby taught me one very important thing about such scenarios - when you have a deep wave 2 retracement, wave 3 up will be stupendous. We shall test this now. Reversal of USDCHF likely @ 1.0306 approx.
You know whats sad? These thread has 8 posts (not inlcuding mine) and only 2 posters. Its obvious you wait 20 or so minutes after you post to see if anyone answers. If they dont, you post some shit so it bumps your thread. You are an attention whore.