Posts by "daveo"

Yes catnip I understand exactly what sort of war they are playing and they play with fire, a very dangerous game which could implode at any time soon. Remember the bond mkts still have total control, they have been very patient till now so will Merkel act in time, I doubt it.

It amases me reading so much venom directed from germany to uk when we always told you the common currency could never work. You should be asking for our help and advice to resolve the problems amicably. Instead you wish for economic war and I read about neo nazi influences. So that tells me the last 66 yrs has been in vain, we are almost back to square one.

I actually think there are many similarities between our two countries, we should be working together to form a N.European alliance with or without a new currency. We dont need France as it is now F-Pigs. Ireland can remain and the entry criteria will be very strict.

@Olivier,

I prefer to try give useful information in this forum rather than meaningless gut feels or boaster calls. Most of it falls on deaf ears with a lot of ego trips. So nice to be appreciated once in a while:-)

Right now I am bearish since CL broke the trend support today.

If price were to reverse up and take the 103.37 high before making some pattern down on daily t/f I should be looking long for next upside target at 106.30. See if it reacts there and be ready to stop and reverse. No reaction would stay with the trade.

On the downside which I currently favour I am looking for near term targets at 94.80 and/or 93.35 for likely reactions. I don't attemp to forecast too far ahead even though I have a longer term perspective bias. Its more profitable to take one stage at a time.

Thanks for comments Ashraf and Sarah. Its becoming a very interesting subject with apparent such speed of transition and adjustment. The next 20 yrs is going to see extraordinary change across the globe in more ways than one I feel.

usikpa, I think "major fundamentally driven moves" are currently difficult to predict with the global economic chaos prevailing. You could bet on another financial crisis far more serious than the last one, complete meltdown which is very high probability, but the risk is that it might be avoided. You could bet on ecc dissolving. There are too many major unknowns to be trading larger timeframes at this particular time imho.

Ashraf used to trade his opinions with no regard to 400/500 pip drawdowns but if his call proved wrong it had the potential to cause severe pain to novice traders following him. Now he has gone to the other extreme scalping the markets for his premium service. By scalping I mean looking for 40 to 100 pips typically. This results in less pain when he reads the markets wrong.

He is probably right about the 1.29 level or even a lot lower than that but it would be difficult to nail the timing. Its safer to trade smaller moves in the mkts as fundamentals are dynamic, never more so than in the last 4 yrs.

Ashraf, you could use the continuous symbol for the ES (ES #F)