stop trailed now to 1.4030.

Sure in Forex, too. It is just that ole saying. Somebody with a little knowledge may think they know it all...Surely you have run across a few...

Mike

today is lunar eclipse, so can expect some fire works.

This move is the Chicago reversal of European trade, that happens in reaction to the London fixings on oil, gold, and Libor rates. The global drivers (equities and commodities) of Usd values are all showing dollar strength overall, and going into the U.S. session that has only 16% of forex global order flows to back it, these moves may therefore struggle to hold.

U.K. and Euro-zone 53%. Asia 21%. U.S. 16%. Other 10%. (Bank for International Settlement data)

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Don't Chase the market let the market come to you

Low volume, low momentum, low price action, all adds up to a global market that has found fair value. Do not get used to it, because this is the calm before the storm; Earning Season starts tomorrow, and we will get price action. Right now however, there is little here to take advantage of in the near-term.

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Don't Chase the market let the market come to you

This all reveals a market that is buying the Usd as a hedge against dropping equity values, but doing it on very light volume, and in an environment that every pip is hard fought over, in either direction. A reduction in lot size is warranted until market-wide volume increases happen, or until global equity markets find buyers

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Don't Chase the market let the market come to you

Shorting from 1.4040

Anyone else out there ?

I did the same trade sell at 1.3945 and take profit at 1.3930 and again 15 pips gain, for now im sidelined, but eur/Usd is the same as i said yesterday 1.3880 test and 1.4050, well i said 1.4030 "if the same history repeats", and the same history happened, so now more of the same, 1.4100 and if "history repeats" a test of 1.4175-42 soon.

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"Where trading becomes worth my weight"

Hey what time does the London market kinda sorta officially end? what time does the NY market kinda sorta officially begin? what time does the asian market kinda sorta officially end? what do you think is the best city/timezone to live in to trade the combined london/ny market. I seem to always be asleep when the action's happening. Seems like london would be a prime spot. cody/melby/rickos etc seem to never sleep, although not many postings this morning from anybody. also, lot of talk about "pivots" on here lately. How are they calculated? i guess they have something to do with the high/low/middle/and/or/close of the previous period, but there must be something more to them than that, i.e. what is the mathematical formula for determining the "r1r2s1s2 stuff. i wouldnt trust them unless i understood them. buyer beware.

quick chart snapshot posted. looks like eur/us may go line 20 to the triangulation area up above to the strong lines 8/12/20 convergence areas. there was a risk overnight that it would go to the lower triangulation but it seems to have finally made up its mind. might consolodate a bit at the 100 fib line 20 juncture. between last fridays "stop hunting expedition" and last nights lows it moved across the fib from 100 to 0/line 13 resistance-turned support. I cant spell out clear numerical targets because the Marketscope lines converge at different point depending on the timeframe set. this is very weird and i havent been able to figure this phenomena out yet. anyone have experience with this and know what im talking about yet??

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...And the history happened again...usd again being smashed, one day of little gains, and one day losing the double of that gains

__________________
"Where trading becomes worth my weight"

Just got this from my Broker:


US STOCKS-Futures slip on economy worries; earnings loom

* U.S. should plan for more fiscal stimulus-Obama adviser
* Futures slip: S&P 1.7 pts, Dow 17 pts, Nasdaq 1.75 pts

NEW YORK, July 7 - U.S. stock futures pointed to
a flat open on Tuesday as investors turned cautious ahead of
corporate earnings results, and talk for the need of a second
fiscal stimulus package underscored worries about the U.S.
economic recovery.

New York : 09:30 - 17:00 EST
Tokyo : 20:00 EST Not sure when it closes. It sort of eases in to Europe open.

Best times to trade : Not an expert. Cody says 0:00 - 06:00 EST. Which really means Europe session.

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Live Long And Prosper!
Rickos.

Hi guys! Interesting spike)) Thinking it would be some rebound before next try to clamber the top. Short from 4026. Have a nice trade!

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Good one mate,

I shorted from 1.4040 and added few more positions at 1.4028

Already in profit, just aiming for few quick pips

Good shot Ash! Just come from the job, but had enough time to jump to the train))