I KNEW I had seen this chart formation before! compare the yen chart on the left to the EUR/USD chart on the right. <img src=http://elitetrader.com/vb/attachment.php?s=&postid=830409>
well, if the chart pattern holds true and we get a repeat, we could go up to, say, 1.3100s then crash back down to the 1.1700s. Good luck euro LONGs, er, SHORTS, erm... whatever....!
In fact, check THIS out... from March 2004 to Nov 2004 (7-months) we had a range from the 1.1700s to the 1.2400s - 700-pts! see the question mark in the chart? is this the possibe starting of another 7-month period of range-bound ups and down?? If so... you know how many shorts / longs you could get from the highss / lows?? *feeling faint-headed* played right one could practically double their port. this could be perfectly safe trading!! :eek:
I mean, because, when ya think about it. OIL at $70+++ is wrecking the US economy (potentially?) and the EU is in shambles - cannot take a really stong euro... and the USD is gonna stop raising interest sooner or later... no progress being made in the Iraq war. this seems to put things in general overall balance - we could have uniform 200 to 500-pip swings for the next several months... or, we could have a big climb (or fall) just to retrace the entire way. anyone see this any other way?
well... apparently this post is coming to pass - the EUR/USD rate spike, at least. we just hit 1.2527 - giving me another shorting opportunity. current looks to be 1.2492. I see this round of latest price spikes as a little panic setting in the market (oil-katrina-gas price-interest rate blend), 'consumer-level' PhD quantatative finance market participants / heads of super funds, banks last minute dire attempts to figure out which way to go. as recorded in the market's statement, overall sentiment currently is to dump the USD. *busts up laughing* this is sending giant ripples thru other major currencies causing their price against the USD to go up. my EUR/USD short, of course, is in deeper red - to be anticipated. I'm making good money, though, on interest payments. I love when the market hyperventilates. LMAO, Coinz
well incase you havent been keeping up with current events Ivan...you seem to have developed quite the fan following
scalpz, I'm sorry but it's hard to take you seriously. Your behavior seems unbalanced and that usually indicates a losing trader (ie. lundy syndrome).