I’m still in that 1.4220 long from yesterday I held onto it because I felt the greek vote is going to go well, too much depends on it for them to vote against, come on euro break out of that 1.4380 you can do it !!
Breakout, fakeout, takeout or shakeout? I opted for the third one. Greece, yea. Forget Greece, lol. That’s just the explanation for everything now if it goes down. Stocks, herrings, light bulbs or fx, ha ha. The press needs something to blame. Greece is the bad guy, even if it’s just an unimportant economy and it’s the banking system at all what delivers sort of eruptions. No matter if it’s based on some paper issued by the fed or ecb or other cbs. Oh I see, now Greece is also responsible if something goes up (beside of the buck). Maybe I should move to the center of the universe - Greece.
It also has no effect really in the short term. Short term effects are technics driven. Until a week or so. If you start trading on the weekly/monthly and keep your trade for weeks/month, then fundis become also important. But intraday is just noise and even within a week there is usually not much change fundamentally in price either.
For me this thing is right now too hot. Might go to 14420 or might not. We have a steady trend now on M5 til M30. Else tfs didn’t change. But I expect a drop. They can’t lift off without my money, lol.
If intraday is just “noise”, I like it loud…
I would submit that those shorter term moves are part of the macro, therefore have as many valid trades as anything on a chart.
But hey… That’s me:D
I did not say or mean you can’t make money on intraday. I meant noise regarding economy fundamental analysis. But hey… That’s (just) me.
If I look at xauusd then maybe I should start trading that. Strong bullish on ANY single timeframe now, lol.
Economic fundamentals are a continuously ongoing thing. As such they’ll impact all timeframes, all the time - you’re just maybe not aware of it as you’re not paying attention to it. Saying that short term effects are all technically driven is completely wrong in my opinion. The world doesn’t stop during the London / NY session so the technical traders can have at it and then everybody has a review at the end of the day or the week to figure out how the fundamentals get to play out on the charts and the corporates can squeeze into the NY / Asian lull to make their business so as to not interfere with the technical traders doing their thing.
Looks to be flattening out a bit? H1 just gave me short signal. Mostly play off the 4h so will be paying close attention! Elliott wave types may also point out that the 4h looks to be completing ‘3’ wave, apparently the biggest mover wave.
Theyre about to announce the return of the greek vote.
Thought that was two days away? Clue me in! LOL!!!
if they dont give papandreus the vote of confidence im going to drop my long and short that euro large
turn on the news theyre voting right now
It needs a pullback what I can see. Nobody can fly long without wings if there is no support from below.
It also becomes rather average/overvalued now on H1/H4. Vice versa with the buck.
Hmmm… with you BC… so based off the 1h, I’ll go short. But experience has taught me the Asian is a bugger for going the ‘wrong way’ i.e, testing S/R. LOL!!! Why I always wait for London. LOL when writing this some smart ass Interbank trader just took out some stops! Sure sign its a short!
Ha ha, yea that was funny to watch. Now it’s also the mpp. Anyways, I wanna first let it go down and then I’ll see if I could go long or if it’s over right now with that long move. I made good pips for the week yesterday, so I don’t have to rush. Saving money mode accomplished.
edit: And now somebuddy is scratching his head why it goes down. Because if the fundis would matter, it must go up, right?
No I think its safe to 1.4315 at least.
You’re drawing an illogical conclusion again. There’s very little liquidity in the market right now so any moves are going to be exaggerated given that the order book is going to be pretty thin around the present levels.
I still dont think it will go down.
Well, we are having a sharp drop of the 3 p rsi H4 and all others below. Force gives me a negative now. advadx is falling. Should I continue with some other indis?
No, there is no 100% certainty in trading, but it is HIGHLY likely it will drop now. Just saying. I am out since a while, so my cap. is not at risk. Your decision and yours alone. Whatever you do, nice pips!
1h is bear even allowing for that big jump high/ low… looking to 4h for confirmation. London/ London - New York will spell it out definatively either way.
We also have the FOMC meeting and press conference on weds, so for the next 18-20 hours the market might move more like two guys in a bar arm wrestling for a beer than an “orderly market”! LOL!