Kicking it off. I'm not sure why I'm even doing the forum anymore, but still kicking it off. I guess I do it for Marcin, rat, and the other guy, and the small handful of others who come in now and again...

A week ago I assumed that the Euro may need a larger correction, reaching to 1.2570-1.26, but to be honest, watching how it was unfolding until Friday I thought we will see upper part of this area tested. Now I think 1.2550 was it, with a possible push to 1.2570.

I was watching a show earlier on a cult. Scary stuff. I was most startled by seeing how people act when they get sucked in, and the tactics used to manipulate them. They are the very same tactics I see being used on the masses today. We had a recent referendum here in my small town. The survey done well before the vote said it was a bit in favor of the referendum. The side the referendum was for, they are the little guy, with no money. The side to defeat the referendum, they came from outside, with a ton of money and a super slick propaganda campaign (Why did they care about a small town issue? It's an issue coming up across the country, and they are crushing all resistance), and the referendum went down in a landslide defeat.

I watched first hand how the money and propaganda swayed people, how easily the people could ignore the facts and common sense and be swayed by slick BS. Goering would have been proud. What is that famous line he said: "Tell a lie enough times and it becomes the truth". When that referendum was lost in our small town, and I saw that the exact same corruption that is rampant in our country goes all the way down to the small towns, the exact same fractal, I said to my better half: 'There is no hope for us, our country, the world...' When I saw the mass delusion, how the people can't think for themselves, how they go for the propaganda like a duck to water, I knew it was hopeless.

Now, why bring all this up now? I just read an article, and I think the video in the article, it just quintessentially shows what we are up against. The key thing is that not only did all those students believe, the master did, too. But reality quickly showed how all that mass delusion crumbles in seconds. That is what is going to happen in our world, too. And just like those cult members in that show I watched, and the students in that video, and the people in our society, there is essentially nothing we can do or say that is going to change anything before it crumbles. This thing has to play out, and I know it's very negative, but what is going to unfold is going to be far worse than anything in human history, and we've seen things like WWII, the Black Death, Stalin...

http://www.zerohedge.com/news/2014-11-16/9-biggest-myths-people-believe-about-system

In case the above non-trading post was of any interest to anyone, here's a link to read. It's from a book that discussed the above video. The point is, after incontrovertible proof, basically no one who previously believed changed their belief. All they did was rationalize how the belief could still be true. Scroll up one page and read from the start of that topic on the master. Read and see:

http://books.google.com/books?id=cT3HZI9z_4oC&pg=PT34&lpg=PT34&dq=master++ryukerin&source=bl&ots=yifbJyya2T&sig=3AzzN4GtetcqjmS_MjkAkHnB5LE&hl=en&sa=X&ei=wzppVJ69MMT2igLB94HoDA&ved=0CGQQ6AEwCTgK#v=onepage&q=master%20%20ryukerin&f=false

Believe me, all the above is going to matter to your trading career, eventually, or I wouldn't post it.

On a trading note, we now have the sweep down taking out all these local levels, with a timing factor. Now let's see if they sweep up, or just kill it. Killing it isn't off the table, but I'd think the odds favor a bounce now. Bounce and roll maybe. Why is it not super-clear to me which option? Go to a scrunched in 15-min or a 60-min, going back to say the 6th, and tell me what the trend is? This is basically a trend-following methodology. Yes, it can be worked in ranges and such, I believe, with experience, by going to a lower timeframe and recognizing trends withing the range. But it is most applicable to a strong trend, and there isn't one here.

As an aside, does that look like a top about to roll over (on the 60-min) or what? This is a very, very precarious spot for it, and you can be 100% sure 'they' know that.

Recall from last week's posts that this is fully into my key area that I mentioned way in advance. So, it's not off the table that 'this is it'.

It doesn't look like a bounce is going to happen any time soon, in fact it looks like a complete collapse is imminent. But, if they are going to bounce it, we are right at the place and time I'd expect it.

I'd love a bounce retest of the breakdown area, say 32-33, and then a hard roll. That would be sweet.

Bounced right off my area right on schedule, and now at 32. Been at this game a long time...

And down off 32.25 it goes...

Sums it all up nicely. When will 'we' ever learn...






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