I think the idea is partly to confuse the hell out of everyone so they are more manipulable. There are doubtless ECB-connected players who work with European sovereigns to fund their nonsense... ie: mad-money drained from FX traders' pockets. I'd ...

EURUSD

Dinner now in larder. Expect price to stay well above 2312 past weekend while shorts "cook-off" (ouch...ouch...ouch!!) The quick bear faders have been trapped. image They really like doing this on a Friday! The price won't return to earth today... ...

EURUSD

Yes. And stair-stepping (bear-trapping) price action to boot. Not a hint of anything bad anywhere in the financial news (EU-negative news black-out today...). Lots of faders think they have a chance to make a quick buck, so price will just ...

EURUSD

Actually, I don't channel trade much. I use trendline sets as "respect" indicators - ie: likely spots for reversals and breakouts. (... just another form of S/R) They're like cockroaches - find one, there are probably more.

EURUSD

I don't think it's going to until it's gone up to ~2175

EURUSD

Interesting point. I guess if the definition of trend as HH and LL (+ convers) is too pure, then it's inconsistent with the idea of a trend "system". You could say it's just semantics, but the admixture of varying timescale trends does complicate ...

EURUSD

Okay, I get it.

EURUSD

Well, that's how it works. Trends begin and end on all timescales. Fibos exist on many timescales. The rate at which they arise and disappear is related to the timescale. The TL system posted earlier today was one of many in process at that time, ...

EURUSD

Think it still wants to go up to at least 2170

EURUSD

WTF was that? Did she hear me praising her neatness?

EURUSD

Well, I can say this much about it: the definition of sets of parallel lines followed by confirmation is common to many pairs, but EU is something else again. This pair gives confirmation, often to the tenth of a pip. I don't know why, but it does. ...

EURUSD

I'm not following you

EURUSD

See how little Miss EU keeps her crayon within the lines? Wait until Europe and London come in. She'll make crazy scribbles out to about 2170 or 80 at least I'd say. See earlier comments for explanation.

EURUSD

I give it another 90 minutes to do it's business.

EURUSD

Moving entry trig to 2144 (overlooked downtrend line from 2143 @ 1252 NY ...could bounce from lower tl)

EURUSD

Think I'll buy a clean break of 2133 (trig @ 2137) w/target at outer uptrend near 2175 (tp at 2165 to be safe) and sl @ closest respected tl (2114). Smaller position than usual in case of tape bomb. Bear for dinner seems a reasonable assumption: ...

EURUSD

The story: Druckenmiller is not very forthcoming about his trading theories so his mother-in-law refers to him as an idiot savant.

EURUSD

tp at recently respected down-trendline (2120)

EURUSD

That is SO cool! I've gotta try that. Reminds me of Stanley Druckenmiller and his mother-in-law.

EURUSD