I'll start the week off not with a trading item, but an economic item, albeit one that will directly affect trading in a profound way as it unfolds. No, it doesn't matter jack squat for the trades we may do Sunday or Monday. But in the overall, it's just about all that does matter, as far as trading. It's nothing new, just a summary of what is happening.
http://armstrongeconomics.com/2014/12/20/coming-emerging-market-debt-meltdown/
JI
jimkane
Rep: 3,058
Posts: 33,089
Well, it turns out that this was the one. But it was so hard to be sure on the read, they were just going crazy with it on the 1-min.
Originally posted by jimkane
Either it's just getting crazy squirrelly, or they don't want anyone on board when they gun it.
MA
MarcinO
Rep: 67
Posts: 5,506
This is what I meant about a week or two ago while placing a TL based on 3Ds violation scenario before going below upsloping TL from your weekly chart.
My idea is that they will now make a fakeout of your line and then we will see the reaction, but anyone of us can be wrong here.
Anyway, it will be fascinating to see how the price action unfolds near this line.
My idea is that they will now make a fakeout of your line and then we will see the reaction, but anyone of us can be wrong here.
Anyway, it will be fascinating to see how the price action unfolds near this line.
Originally posted by Duane
We should get some kinda reaction here.
Click image for original size
JI
jimkane
Rep: 3,058
Posts: 33,089
All I can say is, it's big. This is the area of a big decision. And, within the expected range for the timeframe, the time is now. This might be setting up for Armstrong's upcoming hammering of sovereigns, which will require a big jump in the USD. Maybe it needs awhile, some time in '15, for this to really get moving, but it could be now, too. If so, once the shakeouts are played out, this could be the setup that takes the Euro under par, which I fully believe is going to happen. Hey, it started in the 80's, and I think 'fair value', relative to the buck, is well under par, so it makes sense. It's just been the US playing games to keep its currency undervalued that has had the Euro up so high all this time. Just my two cents.
DU
Duane
Rep: 100
Posts: 1,095
Ok Marcin, I got you now. Nice call, did not see it till recently. To busy looking at the trees, and not the forest!!
Originally posted by MarcinO
This is what I meant about a week or two ago while placing a TL based on 3Ds violation scenario before going below upsloping TL from your weekly chart.
My idea is that they will now make a fakeout of your line and then we will see the reaction, but anyone of us can be wrong here.
Anyway, it will be fascinating to see how the price action unfolds near this line.
Originally posted by Duane
We should get some kinda reaction here.
Click image for original size
DU
Duane
Rep: 100
Posts: 1,095
Par? Sweet! I'll book my vacation now!!
Originally posted by jimkane
All I can say is, it's big. This is the area of a big decision. And, within the expected range for the timeframe, the time is now. This might be setting up for Armstrong's upcoming hammering of sovereigns, which will require a big jump in the USD. Maybe it needs awhile, some time in '15, for this to really get moving, but it could be now, too. If so, once the shakeouts are played out, this could be the setup that takes the Euro under par, which I fully believe is going to happen. Hey, it started in the 80's, and I think 'fair value', relative to the buck, is well under par, so it makes sense. It's just been the US playing games to keep its currency undervalued that has had the Euro up so high all this time. Just my two cents.
