Major changes here... looks good; hope it works out well for you...

Merry... Good to see you!

__________________
Trade with the next twenty years in mind; not the next twenty minutes.
John E. Putman II, CTA

Hey John

Long time.
Dog blog it's not, but you know me.... always hoping for a renaissance.

The new changes they've instigated are looking good so far. Thanks DailyFX.

Hope the street is giving you a smooth ride Bulldog

Hey Mr Putman....its been some time....I dont come here much...but always pass by you @ Fxstreet.....good analysis there especially on GBP/JPY here http://fxanalytics.fxstreet.com you'r innovative...different and original.

Breeze

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Warning follow @ own risk...I dont use stop loss I hedge

hey there Bull and merry. Thot of checking the forum again and yeah, this looks much better than the last time i visited!

And Merry , i find sister hood in your ramblings. but OHLC, i would not care much,rather SPEED is of essence!

Cheers

FG

Update:-

So Last week I've accumlated 3545/55/65/75 to 40% of a 10% position size. This week I will close the 3575/65 at 3670 (or close i-day highs) when seen to compensate for the -ve premuims on the trade.

I will double my holdings at 3545/55- (after releasing the 3565/75 lots). And will attempt to accumlate aggressively to full 10% between 3545--> 3480. Stops below 3450.

The bounce off the 3533 low, wasn't strong. Despite negative NFP numbers.This may mean that technically the ledge still have lower lows to consolidate.

So, I still expect to see same levels re-tested- on a 2nd daily trigger Cci dip - if not newer lows achieved.

It is possible however, that lows will not be seen until towards the end of this week- or even into the next week. So I recommend to patiently wait, and add only at the pre-calculated volatility levels, unless 3681 is decisively broken.

Complete preview behind the trade managment is in the attached PDF.

Profitable Trading

Attached Files

Eurodollar Q2-6507.pdf (248.6 KB, 359 views)

__________________
Sincere Regards
Summerset
______________________________
* If you have a positive view towards what you are reading. Don’t take that to mean that you should follow it. It could PROVE ALL WRONG. If you have a negative view towards it, then CERTAINLY you won’t bother with it. If you have no idea what its talking about, then please DON’T EXPERIMENT with it !! ! …In SHORT, what THIS disclaimer is telling you IS :-
TRADERS TRADE AT THEIR OWN PERIL – PERIOD

Hi FG

It's somehow reassuring to see you pop over the horizon occasionaly. I haven't posted on this forum for ages either, but still check in from time to time.

The OHLC daily data approach is but another way to play a tune on this fx instrument. Dull if you sit and watch it, but I can place set and forget trades at 0.00 GMT and have another life. It has become my mainstay approch due to my circumstances of late. I do however have another account for screenside scalping and opportunistic ST trades.

All the best FG .........merry

I believe my old friend Spider said it best. "We have found the enemy...and it is us." (Pogo)
There are 1000 ways to skin a cat but I am of the view that most only think and talk of making money. What they truly want is to prove that they are right and thus have an emotional investment in a trade, which appears to me to be more important than actually making money. Perhaps that Sey----guy was right "we all get what we want from the market."

I hope that Spider and my other old friend Scopen are doing well.

Ultimately we believe that it is sentiment that moves prices and fundamentals are important because they shape that sentiment while technicals as you rightly point out can cap the amplitude of the move. EURUSD is a great case in point. Fundamentals for the buck are horrible, but technicals show that price action is very tired with major divergences across many time frames, so any dollar positive news makes progressively less impact.

There was a movie called Excalibur. All the best Knights were sent out to look for this treasure. All but 1 of these great Knights died while in search of this mythical item. The sole survivor came back to say that the answer was not some great treasure but something simple, right in front of our eyes.

In my view, it is the same in trading. There is no Holy Grail. The key is right in front of us, nothing complicated and for ours to be take if we really want it. MONEY MANAGEMENT.

We posted this in our daily: "Given, the generally hawkish posture of the majority of voting members of the committee, we have to side with dollar longs and state that the Fed is likely to err on the side of monetary tightening. Several factors, aside from the current state of the economy may affect their decision. Most notably the meteoric rise in the equity market and the concomitant plunge in the dollar. If the Fed were to hint of any possible policy easing, both markets may be pushed further to their extremes. We doubt that the Fed would want to encourage even more speculation in the equities while at the same time see additional depreciation in the dollar that would exacerbate inflationary pressures in US. In short the balance of risks has us leaning towards a more hawkish rather than dovish statement.'

Let's see if we are correct.

I'm unable to be in front of a TV, is there anyway for me to get the statement on the net in real time?

It looks like the EURUSD wants to test 1.3500. If it does, odds are that stops will be triggered below so watch 1.3480 for support. 1.3480 is the 100% extension of 1.3680-1.3533-1.3627.

Since there will be 5 waves down from 1.3627 on a break under 1.3514 - a corrective rally back to the prior 4th wave extreme at 1.3566 would likely follow.

Attached Images

 

I realize that this is a bit late at this point, but you can get all of the Fed's statements here at their own website:

http://www.federalreserve.gov/boardd...monetary/2007/

I am interested to know why you think the "C" labled on yr chart is a five wave structure & not a three.
Shouldn't the "B" become a 3 then.
THANKS

__________________
Sincere Regards
Summerset
______________________________
* If you have a positive view towards what you are reading. Don’t take that to mean that you should follow it. It could PROVE ALL WRONG. If you have a negative view towards it, then CERTAINLY you won’t bother with it. If you have no idea what its talking about, then please DON’T EXPERIMENT with it !! ! …In SHORT, what THIS disclaimer is telling you IS :-
TRADERS TRADE AT THEIR OWN PERIL – PERIOD

Below is the other side of the coin / argument

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May 9 (Bloomberg) -- The European Central Bank is unlikely to intervene to curb the euro's strength until the 13-nation currency rises to $1.50, according to Merrill Lynch & Co.

The euro has gained 2.7 percent against the dollar this year and reached an all-time high of $1.3681 last month. The region's fastest growth in six years has pushed the ECB to raise borrowing costs seven times since November 2005 to contain inflation. Dutch Finance Minister Wouter Bos on May 8 said he wasn't concerned by the euro's advance.

``They are relatively relaxed about the currency's strength,'' said Jason Daw, a senior currency strategist at Merrill in London . ``The economy is still in pretty good shape and the ECB still has a tightening monetary policy. A strengthening currency also helps keep inflationary pressures at bay.''

The euro traded at $1.3551 at 11:34 a.m. in New York , about 10 percent below the level Merrill says may trigger intervention by the ECB.

A rally in the euro to $1.45 in the next two months may push the central bank to slow the gains through public comments, what traders dub verbal intervention, according to Merrill.

In November 2004, ECB President Jean-Claude Trichet described the euro's strength as ``unwelcome. '' The euro set its previous record high of $1.3666 on Dec. 30. 2004.

`Sustainable Growth'

``The economy is on a sustainable growth path led principally by domestic demand,'' said Daw. ``Inflation risks remain to the upside, export-related companies are optimistic, global growth is strong and structural changes allow companies to withstand a stronger currency.''

The European Commission this week raised its euro-region growth forecast for 2007 to 2.6 percent, from a 2.4 percent estimate in February, and predicted the economy would outpace the U.S. for the first time since 2001. The U.S. economy, the world's largest, may grow 2.2 percent this year, the commission said.

The ECB meets tomorrow and will likely hold its benchmark rate at 3.75 percent, according to all 45 analysts in a Bloomberg News poll. Trichet will probably flag the bank's intention to raise the rate in June to 4 percent, according to 22 economists in a Bloomberg News survey.

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Maybe U should be holding part of yr fx-account(s) in Euro as a hedge reserve for that holiday U've planned.

__________________
Sincere Regards
Summerset
______________________________
* If you have a positive view towards what you are reading. Don’t take that to mean that you should follow it. It could PROVE ALL WRONG. If you have a negative view towards it, then CERTAINLY you won’t bother with it. If you have no idea what its talking about, then please DON’T EXPERIMENT with it !! ! …In SHORT, what THIS disclaimer is telling you IS :-
TRADERS TRADE AT THEIR OWN PERIL – PERIOD