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  • US Consumer Confidence Fell Again in September

    From prnewswire.com

    The Conference Board Consumer Confidence Index declined again in September to 103.0 (1985=100), down from an upwardly revised 108.7 in August. The Present Situation Index—based on consumers' assessment of current business and labor market conditions—rose slightly to 147.1 (1985=100) from 146.7. The Expectations Index—based on consumers' short-term outlook for income, business, and labor market conditions—declined to 73.7 (1985=100) in September, after falling to 83.3 in August. Expectations fell back below 80—the level that historically signals a recession within the next year. Consumer fears of an ... (full story)

Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
It looks like the resilient economy is now shaking
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Quoting kvmystic
Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
seems like they are not as data dependent as they claimed to be
Quoting kvmystic
Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
Welcome to forex trading. News only works when the movers want it to work. Most people are selling the dollar that's why it's too strong. The moment people start buying the dollar price will change direction.
https://www.myfxbook.com/members/mitiblotch/mt5-10567385/9464692
Quoting kvmystic
Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
Welcome to the market.
Quoting kvmystic
Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
Man, for the most part just don't bet against the USD. Goodness, If i haven't been learning that the hard way. Yea be it price manipulation or whatever, it just constantly defies logic on WTH may actually be happening on the board. Geeesh...
Has Dollar strengthened or weakened?
Quoting kvmystic
Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
Price action is called a King for a reason
Can I give you guys a tip; never trade in the first 30 minutes after the Dow has opened, sit it out and see if there's a change in direction which you can follow. The same apply when big numbers are due for announcement.
Quoting kvmystic
Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
Depends on your definition of manipulative...

Most of results of a number are ALREADY baked into the pie BEFORE the release of the numbers. Once the numbers verify then the MM (money makers) unwind their positions that they accumulated the prior 3-5 days BEFORE the announcement.

Remember in the market it is not about today or tomorrow - think longer-term weeks/months. ONLY IF YOU BELIEVE that fundamentals matter; lots of traders do not believe in announcements/fundaments and trust their charts ONLY.

All I know is this - INEXPERIENCED traders are the ones who cry manipulation because when you don't have the FULL picture that is how it feels. Remember the cliche: "Buy the rumor...sell the fact" or vice versa...
Quoting Mitiblotch
{quote} Welcome to forex trading. News only works when the movers want it to work. Most people are selling the dollar that's why it's too strong. The moment people start buying the dollar price will change direction.
The above statement may seem confusing to some (newbies) but Miti nailed it - the retail crowd (of which you and I are a part of) is USUALLY WRONG!
Quoting kvmystic
Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
Computers don't know whether news positive more negative....So the trading positions are not based on that but results!....Trading results that MM is looking for! (words to the wise)
This shouldn't really come as a surprise to anyone - hence the lack of price movement.

With higher inflation, workers on strike, loan payments about to begin and a Presidental election!

What's to be happy about?
Quoting fx6996
{quote} Depends on your definition of manipulative... Most of results of a number are ALREADY baked into the pie BEFORE the release of the numbers. Once the numbers verify then the MM (money makers) unwind their positions that they accumulated the prior 3-5 days BEFORE the announcement. Remember in the market it is not about today or tomorrow - think longer-term weeks/months. ONLY IF YOU BELIEVE that fundamentals matter; lots of traders do not believe in announcements/fundaments and trust their charts ONLY. All I know is this - INEXPERIENCED traders...
Too many none-sense you are saying...Simple fact is most are using chart (effects) to place trades......Most forex teachers mislead trading students to trade this way....But its categorically wrong headed-95plus percentage losing money.....Traders must Trade cause not effect!
Quoting Mitiblotch
{quote} Welcome to forex trading. News only works when the movers want it to work. Most people are selling the dollar that's why it's too strong. The moment people start buying the dollar price will change direction.
very true
Say something meaningful or Silence!!
Quoting fx6996
{quote} The above statement may seem confusing to some (newbies) but Miti nailed it - the retail crowd (of which you and I are a part of) is USUALLY WRONG!
Then you tell Me experience trader on what basis trade should be placed as you said inexperienced trader cry and just trade base in chart so you get any tips from Biden that now usd wil go down or up? Bcoze we trade based in base in chart indicator or ea.
Quoting kvmystic
{quote} Then you tell Me experience trader on what basis trade should be placed as you said inexperienced trader cry and just trade base in chart so you get any tips from Biden that now usd wil go down or up? Bcoze we trade based in base in chart indicator or ea.
My chart speaks for me:
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD_20230926_11.56.png Size: 14 KB


I don't give advice, I don't give signals because frankly I'm not always correct.

From my 20+ years of trading in Forex (as a hobby/income supplement) the most important aspect of trading (at least for me) was/is money management.
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You cannot just trade news. The eur/USD has been in a very obvious bearish channel for months. Don’t EVER trade against the trend until the trend is broken. Fundamentally: the eurozone economy is cracking while the US is proving exceedingly resilient. So what you see now is people pricing in longer higher rates for US and rate cuts sooner for EUR. Currently, price action is reaching areas of interest so I just closed my positions and am awaiting for some nice consolidation and continuation or a break of the bearish trend. Hope this helps.
The U.S. Consumer Confidence Index, a measure of consumers’ optimism about the state of the economy, fell again in September. The index dropped to 103.0, down from an upwardly revised 108.7 in August. This decline is attributed to concerns about higher prices and the political environment. The Present Situation Index, which is based on consumers’ assessment of current business and labor market conditions, rose slightly to 147.1 from 146.7. However, the Expectations Index, which reflects consumers’ short-term outlook for income, business, and labor market conditions, declined to 73.7 in September, after falling to 83.3 in August
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I am a complete beginner but so far I have learned that if there are news and you only focus on the chart it might be a good idea to not operate when there are news and wait until the market consolidates/gets "stable" again. The big ones are always the ones deciding where the market goes, wait for them to get the direction and then operate again following the charts.
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Quoting kvmystic
Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
I put ot simple, right now the US dollar is the ATM of the world. more than 5% return this year and next year for free thanks to the interest rate. that is. nothing else matter. but the dangerous part of the story is that the US is accumulating debt over debt..very expensive debt.
Quoting kvmystic
Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
Don't look for sense where there is none.
Don't create conspiracy theories without evidence.
What price does isn't intuitive and there is no common sense logic behind it.
We look for patterns, because that's how brains work - they look for patterns so that they can predict, so that we can survive.
But, the way price behaves has absolutely nothing to do with the patterns of reality to which our brains are accustomed.
So, the charts and PA are actually alien worlds, alien environments for us.
We need to get used to this new, alien environment which doesn't make sense.
Wooden Coder BestTraderEv
It's tough for young people to find there feet in trading, nobody will give away a system that works, it took me more than 15 years to get there. There's no shortcut.
Quoting Mitiblotch
{quote} Welcome to forex trading. News only works when the movers want it to work. Most people are selling the dollar that's why it's too strong. The moment people start buying the dollar price will change direction.
"The Percentage of Retail Traders in the Forex Market
According to a 2019 report by the Bank for International Settlements (BIS), retail traders make up approximately 5.5% of the forex market.
6. maj 2023."
Quoting Mitiblotch
{quote} Welcome to forex trading. News only works when the movers want it to work. Most people are selling the dollar that's why it's too strong. The moment people start buying the dollar price will change direction.
I couldn't disagree more. Not every event is supposed to "go crazy", especially following the FOMC being extremely hawkish. The banks don't care about this event.
Software Developer and Music Producer
News Fundamentals All Time Return: 1,159.1%
Quoting kvmystic
Can't understand basic. If usd news come positive then market goes down continue and if it come negative then also down? Yesterday eur news came positive then also down? Is it manipulation or what?
This event is a "weaker" event and was overshadowed by the FOMC conference. A good rule of thumb is to check price action on previous event times.
Software Developer and Music Producer
News Fundamentals All Time Return: 1,159.1%
Quoting Bakker
It's tough for young people to find there feet in trading, nobody will give away a system that works, it took me more than 15 years to get there. There's no shortcut.
Its not Forex...Its life...Most people bring their life's bad habits to trading and expect miracles. Surprise Surprise Success at anything in life is a function of Good habits! Also you must know the right things and do them! Didnt need to take you 15 yrs Some even have harder times letting go off bad habits and internal programming!
Quoting Bakker
It's tough for young people to find there feet in trading, nobody will give away a system that works, it took me more than 15 years to get there. There's no shortcut.
Because there is no system that works!
Everything, ultimately depends on the trader and their skills.
Or iow what the trader does when they start losing.
So, all systems are as good as the trader who is using it.
Wooden Coder BestTraderEv
Correct BTE
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