Forex Signals – Intraday Update

Intraday Update! We did an intraday update today to give the setups a bit more time to develop and we are glad we did! Otherwise we would be on the losing end of an EU long (our initial analysis when we charted this morning). The only pair we regret not trading is GU which continues to climb, but more on that inside GU’s PRO analysis.

Recap: No trades taken yesterday no breaks occurred – there was a resistance break this morning but we didn’t take it for the same reason we did an intraday update today. Just as an FYI if a break occurs in the following day of the signal we will generally take the trade IN THE ANALYSIS (e.g. “we are getting long at current price off the break that occurred a few hours ago”), to allow as many traders to get in as possible.

Price appears to be consolidating in a large bearish consolidation flag pattern after the major drop last week. While there is a nice horizontal resistance around 1.2330 we believe a break above this level will not produce the necessary *pop* we look for in swing trading as there is a good probability that it will drop back down after hitting the top of its flag channel. Therefor we are only looking for a short on a support break at the moment.

Today’s Important News Events:

Date Time (UTC) Event Forecast Previous
Thu
Jul 19
08:00 German Upper House Votes on EFSF Aid to Spain’s Banks
*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.

Trading Idea: We are looking to get short on a support break with targets at 20/20/20/20 for 80 pips profit.

 


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  1. Avatar of sahara
    sahara
    July 19, 2012 at 17:10 Reply

    thank you @Mark

    • test
      July 23, 2012 at 00:02 Reply

      test

  2. Avatar of sahara
    sahara
    July 19, 2012 at 17:29 Reply

    grrrrrrrrrrrrrrr!! alone !!

  3. Avatar of roggy
    roggy
    July 19, 2012 at 17:42 Reply

    U r not .. thnx Mark for the analysis .. I’m taking the short now / change of trend on smaller TF and pullback to fibo retrace at 61.8% ..
    http://clip2net.com/clip/m81565/1342719748-clip-38kb.png

    • Avatar of sahara
      sahara
      July 19, 2012 at 17:43 Reply

      nice @roggy !!

      • Avatar of sahara
        sahara
        July 19, 2012 at 17:44 Reply

        more spx500 perhaps a second ss

        • Avatar of sahara
          sahara
          July 19, 2012 at 17:47 Reply

          and new double berarish 15 mn (eu gu !!

      • Avatar of roggy
        roggy
        July 19, 2012 at 17:51 Reply

        It’s a 50 pips trade down to the bottom tredn line – blue one. If the price breaks that one . woooohaa .. ;)

        • Avatar of sahara
          sahara
          July 19, 2012 at 17:59 Reply

          no prob aud gu following

    • Avatar of sahara
      sahara
      July 19, 2012 at 18:13 Reply

      2280 y entry ??

      • Avatar of roggy
        roggy
        July 19, 2012 at 20:32 Reply

        stil short from 2270

  4. Avatar of Tester1
    Tester1
    July 19, 2012 at 17:56 Reply

    Hi @all – just a quick announcement for PRO members: we are aware that some behind-the-scenes updates are causing issues with Firefox access to PRO Dashboard. We are working to fix it quickly, however in the meantime we recommend you use Chrome (free download at http://google.com/chrome) which is still working perfectly.

    Thanks for your patience!

    PipHut Team

    • Avatar of PipHut Team
      PipHut Team
      July 19, 2012 at 18:32 Reply

      Issues should be resolved now.

      For those who care about the technical details… It looks like depending on your browser’s security settings it was trying to force the HTTPS version of the dashboard which broke some of the functions. HTTP or HTTPS should work fine now (http is a bit faster though).

      • Avatar of sahara
        sahara
        July 19, 2012 at 18:44 Reply

        are you in area @Mark

        • Avatar of sahara
          sahara
          July 19, 2012 at 18:45 Reply

          is it a ss 2h candel gu closed 5714

  5. Avatar of sahara
    sahara
    July 19, 2012 at 18:07 Reply

    thanks @test

    • Avatar of sahara
      sahara
      July 19, 2012 at 18:10 Reply

      is it about this ???Warning: Division by zero in /home/piphut/domains/piphut.com/prodash/candles/cp-backtesting.php on line 226

  6. Avatar of Appie P
    Appie P
    July 19, 2012 at 18:25 Reply

    short @2269 get bearish patterns M15

  7. Avatar of Johnny
    Johnny
    July 19, 2012 at 18:26 Reply

    @Piphut – Thanks for the intraday update Mark.
    I certainly dont wanna ignore your bearish view and know better (That you’re mostly right :-)) But for the time being I keep my Long in (If you dont mind) and wait for the re-test of the earlier made highs and will see what happens there?
    Recently we have made higher lows and it could be that there is a nice Bullish correction going on and further coming up.
    Germany approved the Spanish bailouts and keeping my one eye on the Gold chart and the S&P 500 and have a feeling we soon will touch 2300 again. (May regret it all later on? :-))

    Have a good night ahead.

  8. Avatar of Johnny
    Johnny
    July 19, 2012 at 18:31 Reply

    SPAIN SAYS BAILOUT TO BE MOSTLY THROUGH EFSF BONDS

  9. Avatar of Johnny
    Johnny
    July 19, 2012 at 18:32 Reply

    Spain says expects bank bailouts to be done by June 2013, says interest rate on bailout loans to be variable

  10. Avatar of Appie P
    Appie P
    July 19, 2012 at 18:35 Reply

    Thanks @Mark
    I try to buy on lower levels long E/U, today i was not listen to the bullish patterns at 2230-2235. Patience for the Bullish Crab … Good NIght @johnny (was enjoying of your trade passion :-))

    • Avatar of Johnny
      Johnny
      July 19, 2012 at 18:38 Reply

      It was for Mark @Appie, I am still around for a little moment. Not going to sleep yet :-)
      Glad you enjoyed it….:-)

  11. Avatar of Appie P
    Appie P
    July 19, 2012 at 18:40 Reply

    Ok @johnny :-)

  12. Avatar of Tuan
    Tuan
    July 19, 2012 at 19:04 Reply

    Hi Mark, Glad to see you again for long time.
    Hi Johnny,
    Funny Jumping High and Low!

    • Avatar of Johnny
      Johnny
      July 19, 2012 at 19:18 Reply

      Hi there @Tuan. How is the love life. Have a new G/friend already?

      • Avatar of Tuan
        Tuan
        July 19, 2012 at 19:28 Reply

        Just meet some Girl, too soon to say I am in love again my friend :)

        • Avatar of Johnny
          Johnny
          July 19, 2012 at 19:29 Reply

          Enjoy your life Tuan…Sometimes its nice to be a bachelor (I know all about it :-))

  13. Avatar of Appie P
    Appie P
    July 19, 2012 at 19:32 Reply

    EURUSD M30 Bearish Engulfing Pattern

    • Avatar of sahara
      sahara
      July 19, 2012 at 19:34 Reply

      draw a line from high in 30 mn @appie

      • Avatar of Appie P
        Appie P
        July 19, 2012 at 19:46 Reply

        @sahara I draw a line from high now in 30 mn :-)

        • Avatar of sahara
          sahara
          July 19, 2012 at 19:56 Reply

          you see below or not !!

  14. Avatar of Johnny
    Johnny
    July 19, 2012 at 19:35 Reply

    I will soon be going off to sleep.
    I have a Push Down @ 2320 which I will set as 1TP for now on my running Long. This may be touched during asian hours? SL is @2210 (for now).
    Then I will place a Buy order @2340 with 1TP2360, 2TP2390 and 3TP2410.

    And we will see it all by tomorrow

    GN All

    • Avatar of Appie P
      Appie P
      July 19, 2012 at 19:41 Reply

      @johnny matching with you & Mark view :-) GN johnny

  15. Avatar of Johnny
    Johnny
    July 19, 2012 at 19:47 Reply

    @Sahara – Nice video…:-)

  16. Avatar of Johnny
    Johnny
    July 19, 2012 at 19:50 Reply

    I have no bearish engulf on M30??? I have a PL on H1….But better you follow S&P500 in these crazy days….If thats going below 1373 then not to good for my long, as long as stay above or go up…nice :-)_

    • Avatar of sahara
      sahara
      July 19, 2012 at 19:54 Reply

      yes hourly @johnny(sp

    • Avatar of Appie P
      Appie P
      July 19, 2012 at 19:57 Reply

      I will check johnny about bearish engulf M30 … software confirm it. Thanks for your notification.

  17. Avatar of Johnny
    Johnny
    July 19, 2012 at 19:52 Reply

    I dont think I will be trading tomorrow? Friday….Many other things to do… Lets see?

    • Avatar of Appie P
      Appie P
      July 19, 2012 at 20:01 Reply

      Will see tomorrow … next week good start for Bull?

  18. Avatar of Johnny
    Johnny
    July 19, 2012 at 19:53 Reply

    No Doc , no Maria…..Maybe having dinner?

    • Avatar of Appie P
      Appie P
      July 19, 2012 at 20:00 Reply

      hahaha makes hungry for more …

  19. Avatar of Johnny
    Johnny
    July 19, 2012 at 19:58 Reply

    Forex: EUR/USD erases losses as Germany passes Spanish bailout
    Thu, Jul 19 2012, 16:48 GMT | FXstreet.com

    Spain says bank bailout funds to be available through 2013

    FXstreet.com (Córdoba) – The euro moved higher and erased intraday losses against the dollar after the German lower house approved the Spanish bailout, as expected.

    EUR/USD rose to test the 1.2285 area from around 1.2260 before the news, extending its recovery from a daily low of 1.2228 scored at the beginning of the New York session. At time of writing, EUR/USD is quoting around 1.2280, virtually unchanged since opening.

    From a technical view, Valeria Bednarik, chief analyst at FXstreet.com notes that stocks pushing towards fresh highs and news of Germany approving Spain’s bank bailout, support further gains in the pair, that advances towards 1.2300 at the time being.

    “Key resistance level to watch, is the 1.2330/40 static area, that has limited advances since early July, yet a break above the level, should trigger a stronger bullish rally, with 1.2410 then at sight”, says the analyst. “Short term supports come at 1.2250 and 1.2210, yet a return of the bearish momentum seems limited as long as the yearly low holds”.

  20. Avatar of Johnny
    Johnny
    July 19, 2012 at 20:02 Reply

    Ok guys, gonna leave you (Shall I also place a Sell order around 2320/30??? Just cant ignore our master can I??? Let me see…..????)

    Have a good night and maybe seeing you tomorrow early for a little while….But dont think I have time to be trading whole day tomorrow. Very busy Grrrrrr :-(

    TC & GL

    • Avatar of Appie P
      Appie P
      July 19, 2012 at 20:18 Reply

      Departure for my sleeping hours. Tomorrow a new day … be here early in the morning, sleep well GN TC GL

  21. Avatar of Johnny
    Johnny
    July 19, 2012 at 20:09 Reply

    Btw….Now PL on M30 and…H4 :-)

    • Avatar of Appie P
      Appie P
      July 19, 2012 at 20:43 Reply

      see PL on M30 and BH on H4

  22. Avatar of Johnny
    Johnny
    July 19, 2012 at 20:11 Reply

    Johnny Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz dreaming about…..????? :-)

    • Avatar of sahara
      sahara
      July 19, 2012 at 20:18 Reply

      good night johnny and all see you tomorrow

  23. Avatar of roggy
    roggy
    July 19, 2012 at 20:37 Reply

    if 2289 holds i’m still bearish .. the next 3 hours will be most probably extra boring …. c u tomorrow

  24. Avatar of Tuan
    Tuan
    July 19, 2012 at 21:12 Reply

    The triangle consolidation is finish, we will see the break out soon :)

  25. Avatar of Maria
    Maria
    July 19, 2012 at 21:45 Reply

    Hi all,

    I’m continuing to be extremely busy this week at work, I apologize for missing any questions or not getting my updates out on time, feel free to PM or obviously approach me on twitter for faster response, believe me, I’m doing my honest best here.

    BTW what was that strange convo you guys had about me behind my back :D

    Anyway, this week continues to be boring for me, closed the one position from 1.2320 for 50 pips, positions 1.2290 and 1.2270 active and 1.2320 has been replaced.

    I don’t really expect this dodgey movement to finish before end of august to be honest, again caution is strongly advised here, for me personally short side is still safer than long for mid-term sets.

    I found out short notice that I’m travelling again next week, so probably very random updates to follow.

    Good night

    • Avatar of Maria
      Maria
      July 19, 2012 at 21:48 Reply

      Correction – 1.2320 has been replaced by 1.2317 since I missed the re-entry previously by 2 pips.

    • Avatar of Appie P
      Appie P
      July 20, 2012 at 04:34 Reply

      What is your reason why this dodgey movement don’t really finish before end of august? In my opinion we go really down after the olympics (so as olympics 2008). Short positions can be very risky in the coming period. Take care.

      Wish you successful trades

  26. Dean
    July 19, 2012 at 22:27 Reply

    Just because of Aussy crazy bulls euro still alive)),but soon we’ll see nice leg down bouth,bearish hammer candlestick on daily EURUSD.

  27. Avatar of sahara
    sahara
    July 20, 2012 at 06:00 Reply

    gm all

  28. Avatar of Appie P
    Appie P
    July 20, 2012 at 06:53 Reply

    GM Sahara put long @2244

  29. Avatar of Appie P
    Appie P
    July 20, 2012 at 07:07 Reply

    go long E/J target price coming week(s) 101

  30. Avatar of Appie P
    Appie P
    July 20, 2012 at 07:17 Reply

    Report this comment? @Mark what is the intension of this new function?

    • Avatar of PipHut Team
      PipHut Team
      July 20, 2012 at 07:28 Reply

      Hi @appie, unfortunately we can’t monitor all comments in real time so if there is a comment that is offensive or inappropriate you can “flag” it to basically get my attention. :)

      • Avatar of Appie P
        Appie P
        July 20, 2012 at 07:43 Reply

        @Mark Ok will be never a trader if you have no stamina / resilience :-)

      • Avatar of sahara
        sahara
        July 20, 2012 at 08:01 Reply

        oh will be nice @Mark

  31. Avatar of sahara
    sahara
    July 20, 2012 at 08:04 Reply

    Who sais 2..55 eu put a number !!

    • Avatar of sahara
      sahara
      July 20, 2012 at 08:07 Reply

      you add 1 2 or 3 !! hahaha

  32. Avatar of sahara
    sahara
    July 20, 2012 at 08:10 Reply

    12366!! i hope

    • Avatar of Appie P
      Appie P
      July 20, 2012 at 08:24 Reply

      Sahara short @12366?

      • Avatar of sahara
        sahara
        July 20, 2012 at 08:25 Reply

        i bought to go there first

  33. Avatar of Appie P
    Appie P
    July 20, 2012 at 08:34 Reply

    Ok will be long @2244

    • Avatar of sahara
      sahara
      July 20, 2012 at 08:35 Reply

      from low and first tp 2295 area (half lots)

  34. Avatar of Appie P
    Appie P
    July 20, 2012 at 08:40 Reply

    find tp’s in PV: 2276 R1: 2313 ??

    • Avatar of sahara
      sahara
      July 20, 2012 at 08:43 Reply

      camels pifpaf will be in area !! (german vote !!

  35. Avatar of sahara
    sahara
    July 20, 2012 at 08:57 Reply

    can we reach again 5740 area in gu ?? possible

    • Avatar of Appie P
      Appie P
      July 20, 2012 at 10:31 Reply

      @sahara my apology for my late response (multi projects/meetings)

      Entry order U/G: US-session long (stop buy) 5748 TP=5765 SL=5739 :-)

      • Avatar of sahara
        sahara
        July 20, 2012 at 10:47 Reply

        5740 will be ok for me (closed all shorts !!)

  36. Johnny (from PocketPc)
    July 20, 2012 at 09:22 Reply

    GM All , really busy today so unable to stick around in here.
    Long still running and no adjustments done to my runing trades. However last nights orders that I placed I have canceled for now. Will watch from a distance (PocketPc :-)) how things go once we have reached around/above 2300.

    @Maria – Summer flows indeed :-)

    @Dean – Sorry Dean but on my Pattern Squeaker no such Bear Pattern on the Daily! Mine maybe out of date :-)

    What I do have on the H4 is a (Bullish) Morning Star, which should mean the trend will change soon (To the upside!) if I am not mistaken :-)

    Back to duties….

    GL and GW

  37. Johnny (from PocketPc)
    July 20, 2012 at 09:22 Reply

    O and thanks Mark @Piphut….And have a good weekend!

  38. Johnny (from PocketPc)
    July 20, 2012 at 09:24 Reply

    That Push Down above 2300 is still at 2320! tyi…

    Comment left on:
    July 19, 2012 at 19:35
    johnny says:

    I will soon be going off to sleep.
    I have a Push Down @ 2320 which I will set as 1TP for now on my running Long. This may be touched during asian hours? SL is @2210 (for now).

  39. Johnny (from PocketPc)
    July 20, 2012 at 09:29 Reply

    As long as staying above 2230 its fine by me and we will be seeing 2300/20 and more? Breaching below 2210 (my sl) would worry me….going below 2190 we may see strong fiber sell off?
    Now im off…

    • Avatar of Appie P
      Appie P
      July 20, 2012 at 10:22 Reply

      @johnny I agree. US-session long (stop buy) @2287 TP=2313 SL=2274

  40. Avatar of sahara
    sahara
    July 20, 2012 at 09:33 Reply

    if you like hammer in thirty you can be a “nice man” and perhaps 20 pips in pocket (like usually with a hammer)

  41. ted
    July 20, 2012 at 10:09 Reply

    GM all,
    I will try a long from here SL around 1.22
    GL

  42. Avatar of sahara
    sahara
    July 20, 2012 at 10:09 Reply

    grrrrrrrrrrrrrrrrrrrr

  43. Avatar of Maria
    Maria
    July 20, 2012 at 11:08 Reply

    EURUSD short set: closing positions 1.2290 and 70.
    /set closed
    /flat to WE

    • Avatar of sahara
      sahara
      July 20, 2012 at 11:13 Reply

      nice @maria ours friends bulls will play with camels in this afternoon big field congrats for all weekly pips!

    • Avatar of Appie P
      Appie P
      July 20, 2012 at 11:15 Reply

      I agree @maria. Well done !!

  44. Johnny (from PocketPc)
    July 20, 2012 at 11:30 Reply

    @Sahara & @Appie – Just tyi…I got a Bullish Bat pattern on the Daily (But as said above, maybe my pattern squeaker is out of order? :-)) It may go high weeks end/beginning next week? Just my view remember!

    @Maria – Congrats, Well done, GW.

    Quickly back to work ….See ya!

    • Avatar of Appie P
      Appie P
      July 20, 2012 at 11:54 Reply

      Yes @johnny Bat Bullish found (sep2011). Now cheap E/U long orders :-)

    • Avatar of Appie P
      Appie P
      July 20, 2012 at 21:25 Reply

      @Johnny Heavy day but I beat the Bears in the last hours :-)
      Great weekend, good rest and start Monday with a successful plan !!

  45. Avatar of Maris Sturitis
    Maris Sturitis
    July 20, 2012 at 11:43 Reply

    My SL hit on 2200 ;-(

  46. SimmaX
    July 20, 2012 at 12:21 Reply

    Wat Happen? Y is the sudden spike for EU??

    • Avatar of sahara
      sahara
      July 20, 2012 at 12:24 Reply

      Reuters) – Euro zone finance ministers approved an agreement on Friday to lend up to 100 billion euros ($123 billion) to Spain so it can recapitalize its banks, but the exact size of the loan will probably only be determined in September.

      • Avatar of sahara
        sahara
        July 20, 2012 at 12:28 Reply

        A struggling euro hit a session low against the U.S. dollar and record lows against the Australian and Canadian dollars on Friday after Spain’s Valencia region said it will seek central government help to repay its debts.

      • Avatar of sahara
        sahara
        July 20, 2012 at 12:33 Reply

        Many analysts fear that in the end, the assistance plan set up by the euro area is insufficient.

  47. Avatar of Jim
    Jim
    July 20, 2012 at 13:06 Reply

    ECB SAYS MARKETABLE DEBT INSTRUMENTS BACKED BY GREECE INELIGIBLE AS COLLATERAL

  48. Avatar of Jim
    Jim
    July 20, 2012 at 13:11 Reply

    lol… crises response disappointment crises….

    Short term liquidity fixes never work and Greece will run out of money in 4 weeks…

    The ECB has effectively neutered Greece….now what?

  49. Avatar of Jim
    Jim
    July 20, 2012 at 13:14 Reply

    I use the LOL not as a joke but in distain for what I believe is a global conspiracy by G&S, the Bilderbergs, Rockerfeller, George Soros and other globalists to destroy the worlds economy and then come rushing in with the solution which will be the end of freedom and hitch everyone of us to the credit yoke forever……

    JMHO and still short the euro but stocking up on silver at every dip

  50. Avatar of Jim
    Jim
    July 20, 2012 at 13:23 Reply

    To be sure we will have our small corrections but IMO we will not see a major correction until at least 18….

    The chart says it all for me…
    http://imageshack.us/photo/my-images/811/eu720.jpg/

    Of course this view becomes invalid should we see a fundamental shift in the big picture but I don’t see it yet…..

    The facts are still apparent

  51. Avatar of Jim
    Jim
    July 20, 2012 at 13:26 Reply

    If we lose 2160 on the daily then we are resuming the downtrend IMO

    Once again I am a long term trader…

    FWIW

  52. Avatar of Jim
    Jim
    July 20, 2012 at 13:56 Reply

    everyone’s sleeping?

  53. Avatar of John R
    John R
    July 20, 2012 at 13:56 Reply

    Yup, agreed. 2150 broken. Today we will rest at 2130 (S3). Next week, resume shorting rallies.

  54. Avatar of Appie P
    Appie P
    July 20, 2012 at 13:58 Reply

    long E/U 2147

    • Avatar of Appie P
      Appie P
      July 20, 2012 at 19:09 Reply

      ‘m back Happy !! made 25 pips (5 lots) with long E/U @2147 TP=2172 SL=2130.
      Today results: +15, -20, -20 (all 1 lot) and +25 pips (5 lots).

      Heavy day … bulk adrenaline. 2130-2150 range was in my mind (discussion on piphut); last support range for E/U longs :-)

      Take a glass of wine

  55. Avatar of Jim
    Jim
    July 20, 2012 at 14:00 Reply

    if eu can regain 2160 you should be good for some quick profit

  56. Avatar of Jim
    Jim
    July 20, 2012 at 14:01 Reply

    EU has fallen to 9545 against the yen… this is the lowest level since Nov 2000

  57. Avatar of Jim
    Jim
    July 20, 2012 at 14:06 Reply

    I just simply refuse to take a long position on the euro anymore…. it’s like swimming upstream with a parachute strapped to your back in the open position.

    Just waiting for the correction to end and then reopen another short term short position… maybe around 2180

  58. Avatar of Jim
    Jim
    July 20, 2012 at 14:09 Reply

    Friday, July 20, 2012 ⌚09:50 AM
    Spanish 10-year bond yield continues to climb; rises 24 bps to 7.168%.

    Careful on those longs…..
    jmo

  59. Avatar of Patrick
    Patrick
    July 20, 2012 at 14:10 Reply

    promise land dream shattered for now .bears are just too strong for bulls these days

  60. Avatar of Jim
    Jim
    July 20, 2012 at 14:11 Reply

    Friday, July 20, 2012 ⌚10:09 AM
    Spanish 30-year bond yield climbs to euro-ear record 7.329%.

  61. Avatar of Patrick
    Patrick
    July 20, 2012 at 14:16 Reply

    @doc your right there is no need swimming againts a stron g current

  62. Avatar of sahara
    sahara
    July 20, 2012 at 14:17 Reply

    woooooooooow!!! grrrrrrrrrr all bears!!

  63. SimmaX
    July 20, 2012 at 14:19 Reply

    Bears….Bears….Bears…. Arrhhhh!!!!!

    • Avatar of sahara
      sahara
      July 20, 2012 at 14:19 Reply

      was not with the song!! grrrrrrr red friday

  64. Avatar of Jim
    Jim
    July 20, 2012 at 14:23 Reply

    Investors have to be nervous about those yields on Spanish bonds…
    Generally anything above 7% is considered chaos and causes a mass exodus…

    I expect the euro to take a big dive soon…

    I normally would expect a correction at these levels but we are coming off a 4 day correction against the dollar so I don’t believe we will see a meaningful bounce from here

  65. Avatar of Jim
    Jim
    July 20, 2012 at 14:31 Reply

    Friday, July 20, 2012 ⌚10:24 AM
    Spanish two-year notes extend drop; yield rises 62 bps to 5.78%.

    Spanish banks are now paying 5.8% interest on a 2 year bond….

    Seems as though the market wasn’t fooled by the latest solution

  66. Chip
    July 20, 2012 at 14:32 Reply

    I was away (busy with my trial with the bank) and when I returned I saw a lot of red candles (so glad I closed yesterday’s long). Looks like our friend the trend is back as we had a lower low, so next week as @Johnr said there will be a lot of shorting the rallies – looks like May all over again.

  67. Avatar of Jim
    Jim
    July 20, 2012 at 14:33 Reply

    So Spain has to pay through the nose to borrow money and investors have to be wondering where they are going to get the money to pay those interest rates….

    This may be the catalyst to push eu down to the 120 or the 118 level next week

  68. Avatar of John R
    John R
    July 20, 2012 at 14:36 Reply

    Can’t really blame yourself. The last 4 days were consolidation and guessing. The price was even flirting with 1DSMA around 2290s, and I thought it was going to break upwards.
    I even started to think that maybe the market has already priced in the Euro crisis.

    Wait for the next rally to short. We can start re-considering the bears nearer to 1.2000.

  69. Avatar of Jim
    Jim
    July 20, 2012 at 14:55 Reply

    This is a tug of war that is best to stand clear of imo….. watching for a true break below 2140…..

    I’ll add to my long term short position… 2300 2320 and 2345…

    I’ll open a short term position below 2140

    fwiw

  70. Avatar of Jim
    Jim
    July 20, 2012 at 14:57 Reply

    lmao….

    The power of creativity… is this like double secret probabation?

    Friday, July 20, 2012 ⌚10:51 AM
    RT @CVecchioFX: Egan Jones cuts Spanish sovereign rating to ‘CC+’ from ‘CCC+’ $EURUSD

  71. Avatar of Jim
    Jim
    July 20, 2012 at 15:17 Reply

    Friday, July 20, 2012 ⌚11:02 AM
    ECB’S COEURE: ECB ready to play role in banking supervision.

    First step to total globalization of economics…..

    IMO… the EU will pave the way ….. get us all used to the idea……

    Once people start begging to be saved it’s game on…..

    (sigh)

  72. Avatar of Jim
    Jim
    July 20, 2012 at 15:17 Reply

    more like game over

  73. Avatar of Jim
    Jim
    July 20, 2012 at 15:20 Reply

    Friday, July 20, 2012 ⌚10:58 AM
    Spain bad bank may include non real-estate deteriorated assets and to apply ‘real long-term’ economic valuations.

    Great!!!!!!!!! not…..

    In other words they now get to state valuations based upon projected forecasts of worth…

    “Let’s see… I’m holding 500 billion in toxic assets but I believe that in 2018 they will be worth $500 billion therefore my assets are 500 billion….”

  74. Avatar of Jim
    Jim
    July 20, 2012 at 15:25 Reply

    Next week we go down big……. Let;s see I think it will go down to 120 so at 5 lots that’s almost 200 pips x $50 = $10,000.00
    So if we use the Spanish model of long term forecasting I can add next weeks earnings to my assets….
    hmmmm wonder if these same banks who endorsed that nonsense would give ME a loan based on my forecast…

    BTW..it’s the same model that caused the housing bubble… it’s called stated income based upon nothing but smoke’

    • Avatar of sahara
      sahara
      July 20, 2012 at 15:26 Reply

      like that i can have a trak of drinks

      • Avatar of Jim
        Jim
        July 20, 2012 at 15:28 Reply

        We can buy the oasis now Sahara…. lol

  75. Avatar of Maria
    Maria
    July 20, 2012 at 16:05 Reply

    Good evening,

    what a day, what a week.
    Still boring in terms of trading though.

    My minimal short set exit was really bad, was really missing the time to concentrate which is slowly but surely becoming a real issue for me. Ended up adding a big (about 5x the 2 set positions) single short at 1.22 somewhere between meetings, but didn’t have enough time to write an update on that, probably was better this anyway since this was fairly risky.
    Closed that one for 50 pips gravey on the week.

    Flat into the weekend and will be resetting the short set either on Sunday or Monday with new parameters. Travelling on Sunday so not sure if I will make it to the hotel to see market opening and as said my comments will be fairly random next week due to the unexpected trip.

    Again, newer traders, please stay safe, better make a little profit or break even than take a loss or even worse let the loss run, we are at very important levels here and this is not the time to play around with live money.

    I wish you all a fantastic weekend, enjoy the summer weather if you can and spend quality time with your loved ones – this line of business requires strong skills for shutting business off whenever possible to go into a new week with a clear mind and a strong plan.

    TC

  76. Avatar of smile
    smile
    July 20, 2012 at 16:54 Reply

    Have a good weekend all. See you next week. Now ff to bed. TC and GL

  77. Avatar of Appie P
    Appie P
    July 20, 2012 at 19:11 Reply

    ‘m back Happy !! made 25 pips (5 lots) with long E/U @2147 TP=2172 SL=2130.
    Today results: +15, -20, -20 (all 1 lot) and +25 pips (5 lots).

    Heavy day … bulk adrenaline. 2130-2150 range was in my mind (discussion on piphut); last support range for E/U longs :-)

    Take a glass of wine

    • Avatar of Tuan
      Tuan
      July 20, 2012 at 20:39 Reply

      Nice for you Appie :)
      These days the Bears too strong…

      • Avatar of Appie P
        Appie P
        July 20, 2012 at 21:01 Reply

        Yes Tuan but I beat the bears in the last hours :-)




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