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Posts by "daveo"
8683 Posts Total by "daveo":
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Posts by Anonymous "daveo":
Puzzo, you need to progress out of your tunnels. Not being rude but there is a lot more to this than your tunnels.
The uk is effectively bankrupt just like the US, perhaps not quite such a basket case but we have the advantage of not being in the euro currency. The Euro zone is also efffectively bankrupt with germany being the only example of good housekeeping but can germany bail out all of euroland. I doubt it.
Its just a matter of time before we need our gun licenses for protection of ourselves and our families. Anarchy will be with us at some point in time which I cannot predict accurately.
Everything else is academic with the politicians and CB's delaying the inevitable for as long as they can.
I don't know how accurate you expect these correlations to play. Suffice to say the EU strength is all about DX weakness for which Mr Bernanke has been 100% in control. Talk about wanting to devalue the usd in the face of purporting to support a strong dollar, hahaha. All chickens will come home to roost in the fullness of time. What can't happen will not happen.
March 09 high in DX = March 09 slighly higher low in EU
Dec 09 low in DX = Dec 09 high in EU
June 10 slightly lower high in DX = June 10 lower low in EU
Current higher low in DX = Current lower high in EU although DX has well violated its 78.6% ret whereas EU might have some catching up to do.
I have a symmetry target on the DX #F at 74.70 which is slightly shy of the Dec 09 low at 74.27. Watch that # Catnip :-) Its already below Ashraf's longer term trend support line
If you followed his usdchf call you should have known when exactly to enter the long trade and more importantly at what level the trade was proven invalidated. Ashraf's suggested stop at 9550 represented an extremely wide stop loss level unless you chose to play very small size. The market is now approaching the 9550 level with high probability of taking out.