Dear Sive and All
Last June the EU in a "better late than never" moment of lucidity, decided to separate the banking crisis from the Public Dept crisis. Since then we have seen no actual implementation of that.
But now we have an unprecedented EUzone first! In an amazing speed for EU standards they have managed in one short week to:
- Destroy the state guarantee deposit insurance principle
- Destroy money integrity in the EUzone
- Totally violate the basic principle on which both EU and the EUzone were structured, that of the Single Market Principle which allows for NO Capital controls.
What does the above mean to me and you? Nothing more than Sive's excellent analysis shows: EUR is BEARISH. No matter what the Cyprus outcome will be it will not change the underlying truth which is in my opinion that if nothing substantially significant changes within the EUzone the warm of disintegration has already started to erode the foundations of this structure.
(just a note for the trigger happy, Monday is a holiday on Cyprus)
All the best to you Sive and All
Dear Friend,
you always make rather valuable updates and your insight is very helpful, since you see all this staff from inside.
I just want to add some thoughts from technical point of view, if you don't mind.
Currently we still should not follow emotions, since market has its own laws and somebody definitely will
try to make money on emotions and emotional traders who probably will start to sell right now. This could become crucial mistake, because it leads to confusion of long term and short term situation. To enter short we need to wait when current panic will calm down a bit and reasonable assessement of situation will make market re-establish the bear trend.
Hey Sive,
Just wondering how you are able to know the pivot points before market opens? My pivot indicators for MT4 do not seem to update UNTIL market opens but I want to know how to know what the pivots are before the market opens.
Do you have a specific website you go to that updates the pivot points for the next week during market close or do you calculate the pivot points by yourself?
Best,
Brandon
Hi Brandon, actually Pivot formulas are based on values of previous trading period (i.e. week), thus indicator wouldn't need an open.
Do you have the same indicator as me? If yes, then when you watch market during weekend - adjust the number of period to "-1". The point is that in this case it will treat passed week as previous week and will show you the numbers.
But in the begining of the week - return it back to "0". I've found that sometimes it has bug on Mondays - shows pivots incorrectly.
And finally - you can calculate pivots in excell
