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It's said in the trading world that banks put the smartest guys on the bond desks. There's something to that. Bond guys are definitely smarter than equity or commodity guys, but those guys have bigger balls.
ECB will address issue of bond scarcity in the press conference as they have decided to adjust the parameters of the APP
The ECB state that the existing EUR 80bln asset purchases are to continue until March 2017, and from April 2017, will reduce asset purchases to EUR 60bln/month up until December 2017
- The ECB has stated that it may increase the size or duration if needed.
This is having a direct impact on EUR/USD which is making new lows, ahead of the ECB conference held by Draghi at 13:30 GMT.
Trading: 6C (Low Margin,) 6E, CL, GC, ES and Maybe DX for smaller tick value
Posts: 1,394 since May 2011
Thanks Given: 1,719
Thanks Received: 1,020
@tturner86 & @TradingOgre, can you post a "net concensus" of the information gained from this thread in post # 2. I am interested in the 6's (6 a, b, c, e, j …) to determine a leader for trending moves.
I.E... "GC (gold) moves first then the other 6's start; primarily the 6E Euro because it is 40% of the DX"
That may or may not be accurate but I am leaning that way. Do you have some guidance for this.
Additionally, Sim22_BetterRotation seems like the right charting tool to use but I have not been able to move it from its FOREX set up to the 6's Futures.
Anyone else have luck with that and willing to post it here?
WOWSER -- wish I was more informed about the 6E this morning -- the Turkish Lira hammered all the currencies against US $. 6E is at low for the year breaking under 1.15
Friday update: Picked the wrong day to give up oil, NQ, etc... and move to 6E, WILD SWINGS based on Turkey Lira and trade wars === 300 PIP range for the day. Trump raising tariffs and exposing that European banks have H U G E exposure to Turkey failure
If Gold (GC) leads usually leads currency market - it was NOT today. some confluence but LOTS of divergence. Looking at matching charts that are completely mirrors
Euro putting in yearly lows as we speak Didn't quite hit the 100% expansion level... 1.13500 seems an obvious target and beyond, maybe look for a pullback to ~1.13800 for short entry...
Took another trade in the Asian session... normally this isn't part of my gameplan but a setup was right there in front of me... how could I say no? It's actually been moving pretty well the last couple days.
Edit: no balls to hold... and they squeezed it down past the RTH lows. Aah well... working on it...