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MarcinO
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Posts: 5,506
I'll start it off with the Euro.
Last week after a huge move it went up to 1.10 which was a nice technical level, although not very precise. Right now it's hard to access whether it is going to continue bearish correction or a downtrend. All I know, is that from a shorter perspective I will be looking for a play between 1.0770 and 1.0920.
One more push up to about 1.1030 before the next wave down is also a possible scenario in my opinion.


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6e 2015 03 22 png
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MarcinO
Rep: 67
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1.0850 and 1.0770 (updated with more accurate value) in the chart.


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6e 2015 03 24 png
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MarcinO
Rep: 67
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I don't really know why it stopped for so long at 1.09.
It dropped only 140 pips. Where is a standard daily volatility we've got used to recently?
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MarcinO
Rep: 67
Posts: 5,506
1.0940 may send it down any second now, I hope.
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MarcinO
Rep: 67
Posts: 5,506
I have one area for the Euro around 1.0960-70 with best timing overnight, and the other one at 1.0990 around European open.
Let's hope one of them will send it down lower.
JI
jimkane
Rep: 3,058
Posts: 33,089
I just realized I didn't even post once today. Wow, my enthusiasm for the forum is waning. I'm glad Marcin took up the slack. rat must have been busy selling some real estate. I'm not even going to check and see how many people are left following along. Funny, they say this time is never different, but it is in one way. Biggest 'bull' market in history, and almost no one is left. This should be the time of maximum public participation. Your doctor, plumber, dentist, auto mechanic, they should all have quit or be quitting their jobs and practices, making vast sums trading. Every other TV commercial should be about trading, like in 1999/2000. There should be at least three TV shows about trading, like back then. I should be hearing about people making $100K in a week or a day on one small option play on a high flyer*. Stories of people that made enough to pay off their new house on one high flyer movement. But, instead, this biggest 'bull' market ever has none of that. My forum has like two members left, and maybe two or three 'occasionals'. So, indeed, it's different this time. No 'bull' in history that I am aware of has ever blown out the new all-time highs, had record margin debt, record sentiment, etc., and basically had zero public participation. Not one bull in history. I wonder what that means...

* This is a true story. Back during the dotbomb bubble I saw a possible AMZN play set up, an anticipated stock split announcement, or some such nonsense. In those days it was not uncommon for a stock to absolutely explode if they announced a stock split. It makes no sense, but it happened. I recall once DELL announced a split, and before they actually got to doing the split, they announced another split, it jumped so much on the first announcement! Anyway, I can't recall on the AMZN play if I didn't get picked up trying to get cute and get in the spread, or if I just decided to pass on this one (I've had both happen multiple times on various issues), but on this relatively small play the announcement came, and that option play was up $980,000 the next day! I am not joking. Almost a mil on one relatively small option play, in one day. Where is that action now? Where is retail?
JI
jimkane
Rep: 3,058
Posts: 33,089
I can't wait until Dow 43,000. Then this will be around 50! Imagine what this chart would like like. And still all I hear, even from Armstrong, is that stocks are very undervalued in here. Hmmm.





Source: http://www.zerohedge.com/news/2015-03-24/why-yellen-feds-are-bubble-blind-they-apparently-believe-wall-streets-eps-scam
RA
rat89
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Posts: 7,015
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screen shot 2015 03 24 at 9 03 06 pm png
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jimkane
Rep: 3,058
Posts: 33,089
I recall someone said something about a fractal, and it being done going up at that point. Also moving down to what was it, in the 50's? Low 50's I think? Hmmm, interesting.
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MarcinO
Rep: 67
Posts: 5,506
Yes, I remember the guy.
What was his name? Player or something?


Volatility in the Euro somewhat diminished.
JI
jimkane
Rep: 3,058
Posts: 33,089
Here's the crazy part. I can't find that post I made, but I did mention 52.25 an the 'ideal' spot for the imminent drop. That was the low to the tick today. That fractal is the most insane thing I think I have ever seen in the over 50,000 hrs (estimated) I have been at this game.
JI
jimkane
Rep: 3,058
Posts: 33,089
They had to finish it like they ran it all day. Crap chop in a range, sitting right on the range of the last five hours. Still, for a scalp, that pop right when I said was the easiest money I could imagine.