The Essentials of Trading: Emotions, Risk Mgt, Price.
EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 14 replies
Using usd/chf - eur/usd correlation to see moves in EUR/USD 46 replies
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DislikedI think it's safe to say now that they were continuation patterns!
who is thinking of some selling now?Ignored
DislikedBy definition, any time you have long wicks like that....it's not. But that's neither here nor there.Ignored
DislikedSo you think the Euro will hit 2.0 then next year? I'm curious why you think that the activity of the past few days will predict the trend of 2009?Ignored
Dislikedclock
a tail has nothing todo with a price pattern mate. as you can view the price on line bar and candle. so on a line where is the wick so again they were trend cont patterns and funny enough they were confirmed.
funny that hey......Ignored
DislikedUNTIL it's broken, it shows failed attempts. When we were talking, they hadn't been broken.
But as a general rule, when a trade goes like that, I tend to take the surer trade. And did. After all, since we are NOT actually trading anything, it never matters if our profits are in Yen, Euros, or Francs.
ClockIgnored
DislikedAnother interesting continuation flag pattern forming on the 38.2 fib. Be interesting to see if it does drop off the edge again this coming week. It looked like it might find support here on Friday afternoon, but when you go to the smaller time frame chart, when hit the down trend line to a pip, found resistance again.Ignored
DislikedSomething I read, printed out and now display on my monitor:
If you are against flow and remain to be stubborn because of ego or any other reason, it will kill you. You have to "give" and yield to the flow and pulse of the markets. Let her teach you her rhythm; don't impose any of your thoughts on her. -FTI-Ignored
DislikedThe wick action on the 1H in the last 5 hours of trade is certainly something to watch. These tri tips or quad tips usually mean north travel, however, the sell off just before close tends to indicate that there may not be much depth to the support (and or just last minute profit-taking not wanting to stay in over the weekend). Thin trading next week. Some buying up of the AUD too before close, usually a sign that traders are taking cover for Euro shorts.
Asia and Europe sessions usually are bullish on the Euro, first cabs off the rank tomorrow,...Ignored
DislikedHi Apo, the Euro bullish inclinations in the Asia and Europe sessions are my observations of a consistency issue over a reasonable period of time, e.g. if I am looking to short the Euro, I wouldn't (necessarily) do it when Europe has just opened... I wait until the US session starts (or about an hour before, when the Euro bulls start to back off). It's an observation that has stood me in good stead for avoiding the natural contrarian risk factor in trade direction. If I am bullish Euro, I look to go long around 5am London time, 6am at the latest....Ignored