I'd say kill shorts and retrace or retrace and then kill shorts. Whichever comes first.

EURUSD

OMG, ECB is trying to distort your charts! But seriously, I agree with you, they are just trying to win some time.

EURUSD

You're late by ~7 hours. EDIT: my bad, ~6 hours

EURUSD

9:53 (Dow Jones) Amid last week's acute fears about Italy and Spain, the ECB came to the rescue and bought debt of both countries, settling $22 billion -- the largest amount since its bond-buying started in May 2010. Referring to the ECB's buying as ...

Some notes

The more time we spend here at 4305/18 the more shorts accumulate and their stops above. Too early to sell.

EURUSD

Cool, thanks. Does anyone know what happens to stops on EBS or Reuters if the new week gaps. Do they get filled at market or remain unfilled?

Order Flow - Achieving the mindset

Mucho gracias!

US Debt Ceiling Crisis Thread

Being wrong all the time is a blessing. I don't know many people who could do that.

EURUSD

The market should be concerned. Especially now when the growth is stalling. Better to trade it on USDJPY though.

EURUSD

Overnight France, Belgium, Italy and Spain instigated banning short sales on financials. A policy that is never a sign that things bode well. France downgraded by a smaller rating agency.

Some notes

(IFR) Asian markets mostly quiet. USD/JPY barriers tipped down at 76.25, 76.00 and in 25-50 tick increments down to 75.00. Large stops tipped sub-76.25, 76.00 and 75.00. Topside optionality seen around 79.00, a heavily traded strike recently ($3-4 ...

Order Flow - Achieving the mindset

Lucky me! My TP was missed by half-pip on the first dip but we finally got there. I was sleeping the whole time. Good morning folks!

EURUSD

Yesterday NY roll gave it a bounce but the stops below 4178 are still intact. I think we'll have another attempt from above 4204.

EURUSD

If you need to ask such questions you're not ready yet.

EURUSD

Mersch: "I fail to see how the (credit default spreads) of Germany should be worse than the CDS of a European country (UK) which is not part of the euro area but currently experiences riots and which has a deficit that is higher than any single ...

EURUSD

Senior government sources tell Class CNBC, CNBC’s Italian partner, that a short-selling ban will be imposed in France and Italy after Thursday's market close. EU gets a lift to 4294.

Some notes

You can be long, short or flat (no position). I don't know what EURUSD completing a flat means.

EURUSD

I'm flat, 45 is just a projected point for possible trades. But long term I'm bearish in this riss off environment.

EURUSD

HFs started to sell spanish and italian bonds when EUR was around 4500 so we should be able to get there soon. Unless there's another risk off event comes along.

EURUSD

Short selling ban is probably about their bonds. Until EFSF can buy those bonds they were sold heavily by hedge funds. Now they've announced a ban and HFs are closing positions.

EURUSD