QE3 Rally: Get Excited at Your Peril .

"In the fourth quarter of this year we could head towards the fiscal cliff, have a country coming to the ESM and China slowing, you want to get excited, go ahead but you could get crushed," says David Bloom, global head of foreign exchange strategy at HSBC. Direct Link Here

I did enjoy David's Comments : "QE3 at infinitum" :0)

14 members like this

Comment by Peter jcp on September 25, 2012 at 1:10pm

Comment by Peter jcp on September 25, 2012 at 2:03pm: Difficult now - under 2940 sell and over 2960 scalp buys ?

Comment by Peter jcp on September 25, 2012 at 7:27pm: Hi Keith - I don't know whether you are still around trading at this time of the evening ? If you are then 2886 low - then 2892 - so thats 8 pips difference - how about 2900 or 2903 for a massive buy ;-)

(PS - I am only joking - lets see if it teased down to a new low first )

Comment by Indy on September 25, 2012 at 7:42pm: well the pop may have been a bit more choppy than than straight out poppy but the drop has been nice and droppy

Comment by Indy on September 25, 2012 at 7:50pm: Hi everyone

I am looking through some of the exotics atm and the last drop in eur/usd seems to be coming more from usd strength not eur weakness. Not sure how useful that info is by itself, but its interesting.

Cheers

Indy

Comment by Keith Shaw on September 25, 2012 at 7:58pm: Hey Peter, i'm still around and my bears were in position as per earlier posts :)) . As Indy mentioned the drop was 'nice and droppy' all the way back down to our muddy zone which we talked about this morning. Any more commercial interest left at ~ 1.2895 ... I wonder ?

Comment by Peter jcp on September 25, 2012 at 8:00pm: Hi indy - would need over 2924 and 32 to think about holding anything other than a scalp buy atm. We have had some nice LH's from last 2 days - but the LL's are not convincing yet .

Whether that might change now - maybe ? I wonder if just a tease down for another low - then back into the 30 pips either side range of 2900?

Comment by Peter jcp on September 25, 2012 at 10:15pm: Cheers Gissa - just noticed the leader of the FX contest as just lost $200 k today off his account and is back down to only 240K and a 841% increase on his starting capital of $25k .

Hes is still leading the contest - but if you can lose that much in one day - ie 50% of your compounded latest $460k capital - that is too near the "edge" He was so far in the lead he could have had halved his lot sizes knowing he was drawing away from his main competitors

Still he will probably make it all back the next 2 days - or completely blow it ;-))

Comment by Keith Shaw on September 25, 2012 at 11:09pm: Would you Adam and Eve it,1.2895 STILL being defended, bulls about to cave in. Alan why on earth would there have been such commercial interest at the particular level referring back to a comment you made about that level in a previous post.

Comment by Indy on September 25, 2012 at 11:20pm: Hi Peter,

I am not actually inEur/Usd Atm, I am busy playing with the exotics. I deliberately avoided EU and the biases that creep in, not to mention the gameplay. By switching to some exotics I am avoiding any biases and am more able to trade purely on my signals. Yes I am doing the terrible buy and hold thing, my current trades are designed to run 2-3 days.

Even though I am not actively in EU some of my trades are highly correlated to it, by following pure market structure and price action signals without reference to the eur/usd situation i am actually in a position where I am eur/usd short, mostly usd long and a little eur short. My usd longs did very nicely this afternoon, my eur short is at a astandstill around BE.

so even though I am not in Eur/Usd I am very interested to watch where it goes. Hopefully we don't just get caught in the slop again. if we can get back to the 2860 levels i'll be more than happy.

Cheers

Indy