Forex

Everyone is making a very strong case for new highs in the EUR. I must admit it looks that way for sure. I will only throw this into the mix....When we were hitting 1.59 last time the whole world had 1.60 plus out there as a sure bet. We sold off in what very well could be a correction NOT the beginning of a new downtrend. However, going back to EW I think that one of the warnings of a "B" wave or wave "2" is the euphoria and excitement that the trend is still strong and that the prior wave will be exceeded.

Why the dollar should or would strengthen overnight I have no clue? LOL. Fundamentally I just don't know. Probably shouldn't be worth the paper it's written on. But, that's not my expertise at all and there are much smarter people out there to talk about that subject.

Even though I was up all night till 8am est and I live in the west I only managed a small pip count a few times. The one real big move was when I went to the store for cream for my coffee!! Expensive can of cream. The queen made an anounsment and ecery thing went bazzerk!! Night time when london opens is by far the most active trading with EUR pairs. I feel like im talking to myself though no body around exept a few of you. If the RSI keeps dropping on a 1min and the CCI drops some more we will rally again soon. CCI -149 twice and -179 once before a turn up. The sky is the limmit for the EUR fundamentaly one of the strongest currancies for now

I noticed that when EURUD or any other currency pairs are going trough very important level (support and resistance) they behave in two ways. First is very fast and ussaly that are just spikes hounting after stops. It ussaly make you panic . Second way is very slow and comm way. It just goes trough levels slowly, like today eur trough 1,5780 and 1,58. And if you consider that in todays action billions and billions of buy and sell stops went trough and no fast reaction in any way? It looks like major banks turn on like a fillter which filters out all the ticks and sqares asks and bids. And if there is more bids, pair advances a little bit otherwise it just sits still. There was a moment when I had feeling that market was not moving at all. Fist I taught I had connection problem but conn was ok.
When I wached bloomberg and interbank fx traffic, hell of trafic went trough. Sometimes it was bumpy ride, othertimes like today.. nice and slow? But always milions were going trough.

Does anyone know how the system works and why do they turn it on?

Feel the power of the EUR has spoken! If the EUR ever joined forces with the Rail OMG! I like it. We may see 160 buy tonight at this rate! one of these times she hast to go the other way?

Eur had 264 ticks range for today. That is very very impresive.

If you look at daily chart you can see doji pattern and two strong candlesticks up. Thea ussaly come in 3 so tommorow can be another day up and we may reach near 1,60. Thnx Stryer for your advice on enteries... 1,5588 worked like charm. Took only 50 ticks, but made reentery few times afterwards (even shorted tdy), scalped a few more ticks.

Longed EURJPY at 156,15, but bailed out nearly BE. Was a good call anyway.

Still draging small long positions.

Is Bernakie speaking somewhere right now? The last time Eur did this was during the FOMC meeting! I just sat there and watched it go straight up all day with out even a stall! I'm ready to go short to but.. I think I'll get in around .5750.. Seems safer than fighting this vertical theme park ride. I'm waiting for Clear resistance to show up at .5870 to .5900.

It looks like we are either going to see a massive double top put in and a huge drop OR a tremendous breakout to all time new highs very shortly. What other alternatives are there at this point? Seems cut & dry at these levels. AND yes I am amazed at where this strength is coming from all of the sudden. It is like doing all this with really no new major backround news. Maybe that's scariest of all.

OK, it looks like the 60 min, 30 min, and shorter time frame charts are massively overbought. It looks like 5 waves up from the low at 153.40. We are just under the previous all time high. It would seem that we should have some kind of correction here BEFORE any new highs are achieved. That being said there is nothing logical about what has happened so far the last few days. SO?

I have all the pieces that seem to being saying we should have a sell off here BUT this move is scaring me too and I'm not sure whether or not it will really come. Anyone care to comment on any of this? I'd like to hear some opinions on this move. Thanks.

That's where I went wrong several times lately as rallies seem to be very sticky and pullbacks are often delayed but most of the time still occur and take us by surprise.

Samuel many oscilators are made that way that they never reach the top level and they work ussaly in sidways trading. If you take sohastic and look back you can also see that even if sohastic is falling fiber can go higher and all sell signals are ussaly wrong ones. Take a look back and you'll se what I m talking about.