game on..showing sign of cracking.. got one confirmation, waiting on the additional.
also since tomorrow was options EX there was a huge block of long options which are most likely being sold/covered.
im not one to point fingers at over trading. i do so myself. I just thought you were against it. I have been lucky this year when over trading, in attempts to catch smaller moves against my bigger picture it has paid off very well. has not always been the case but this year i have been very in tune with the Euro. The Euro is all i have been trading actively,but i Have a long term bullish position in the stock market that is a "buy and hold" the one method everyone fears now is the method i feel is best 'and so far has proved very well.
as for the Euro right now we are in what i like to call the refresh term, cycling out the short term traders by making choppy moves, hitting stops, getting people out for the next big move. I ultimately think we head down but i dont think it will happen in the typical head and shoulders fashion everyone is looking at.
right here at this moment i see at least a move up to 3150-3160 area. I dont have much else to expect on a short term basis until further action unfolds
Stops are closer on the topside, with talk of stop-loss buy orders above 1.3175 and 1.3180, and more heavy stops above 1.3205 There are some big exotic options rolling off today at 1.2950, 1.2975 and 1.2990 which do not look like being troubled at the moment. Stop-loss sell orders are also reported below 1.3050. Middle East Sovereigns have been buying dips all week but they aren’t usually active during Asian trade.
dont i have a right to doubt you? lol.. dont get me wrong but there inst inst positive data causing it; speculation..and mainly on the G meeting this weekend, is russia going to save the Euro? .. cuz france is going to have a Left wing president who is saying some pretty radical things.
well it is the security that most traders do get wrong.. so ill take 1 out of 10 .. or something.
come on cire lets get rich ;)
actually i think once the FMOC is released its going to rip. as its been trading ina fairly narrow range and holding pattern.. then the BOJ this weekend.. in no way will this be a small move or mumdame i think. Every FMOC or NPF always reacts and it doesnt give back what it takes. I dont think traders expect a downside, as if that was applicable it would be sitting on lows of the range rather than butt up against 1.322