There is not much rocket science involved in my views/charting/working, it’s all about reading and attacking the market at correct time, as the European policy makers and global negotiator have nothing in real sense to offer.

They are simply looking for ways to make adjusting book entries. It is the big players that take advantage of their size and since they have liquidity they can hit the market through volume.

This is one reason that we often hear that Asian or Middle Eastern or European buyers or sellers are in the market. Who are they Central Banks or Sovereign Wealth Funds (SWF)? When they enter the market charts don’t work. They enter market with a target and vanish and later poor jobber’s scratches their heads wondering what went wrong. The real catch is to follow their footmarks. How to follow them? All that I know is that they just don’t go against the trend unless they are caught wrong footed. Then only they try to do new things that confuses the market.

E.g., there is lot of talk IMF investment. Where is IMF money? IMF does not have money of its own, so developing nations will pool the money. But developing nations are themselves laden with huge debt, where will they get the money from? Simple ! By Printing Money and flooding the market with cash. Then they will soon start talking of market stability and Corporations getting back in profit. Don’t get confused its all window dressing trough book entry.

This is all fake, temporary and unending solution. Genuine way of correcting the issues/problems is only by generating revenue that can be done through heavy taxation and by having surplus funds. No political party can risk election by taxing its people and I challenge that there is no other way out and this may not be over in a century. So the policy makers will keep on passing adjusting entries and the economist will keep fooling us with his economic theories.

Don’t worry about the European policy makers as they have nothing solid to offer. They may come up with some sort of vague understanding. Keep selling Euro by picking the top. I will keep you posted about through regular update of my blog.

 

EURO @ 1.3275=  Requires clearing 1.3340 on break of 1.3298 for a move to 1.3390, which may not be easy to crack. Sell Euro around 1.3280 range for 180 points drop.  Volatility to persist.

 

GBP @ 1.5845 = Only break of 1.5890 may push Cable to 1.5935, which does not look a possibility. Pick to sell GBP. though 1.5890 may not be easy to crack.

 

YEN @ 79.70 = Saw a perfect bounce back now requires to clear 79.70 convincingly for 80.20-30. Buy Yen at those levels considered safe. With stops 80.60

 

GOLD @ $ 1735 = Needs to clear $ 1737 for $ 1743. Suspect this rally will fizzle out for $ 1725

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Tags: http://asadcmka.blogspot.com/

Comment by asad rizvi on February 21, 2012 at 7:11am

 

Gold @ 1742 = Target $ 1743 met now needs to clear $ 1747 for more gains or else risk for drop to $ 1736

Comment by asad rizvi on February 21, 2012 at 8:10am

Euro @ 1.3237 = Do not think of Buying EURO around 1.3220-30, which is a trap. We may soon witness sharp slide of Euro. GL…..More later

Comment by sabbir on February 21, 2012 at 9:05am

lol

Comment by asad rizvi on February 21, 2012 at 9:17am

Last Laugh @ 1.3298

Comment by asad rizvi on February 21, 2012 at 10:13am

Gold @ 17398.50 = Gold looking good to fall, if fails to break $ 1743 in next 3 hours, I will lower my current target from $ 1736 to $ 1732…..More Later

Comment by asad rizvi on February 21, 2012 at 1:53pm

GOLD @ 1746.60 = I gave 3-hours time for break of $ 1743 or else I said Gold will fall further. The move occurred after hitting target $ 1736, which should exhaust around $ 1752 for $ 1742

Comment by asad rizvi on February 21, 2012 at 2:26pm

EURO @ 1.3246 =  Sell Euro around 1.3246-50 Stops 1.3285 for 40 pips

Comment by naivetrader1 on February 21, 2012 at 2:31pm

Hi Asad, do u still hold the view, (180 pips from 3280) in the medium term?

Comment by asad rizvi on February 21, 2012 at 2:44pm

Yes, my view remains unchanged. I will post on my blog when I see change in trend. My idea of providing signal is to give clear direction, as I am aware that there are lots of junior traders following my comments. I do not believe in either this or that. It is common sense that the move will either be on the downside or on the upside. When I do this I am confused and directionless. Thanks

Comment by naivetrader1 on February 21, 2012 at 2:49pm

Thanks a lot.

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