I know I shouldn't mock
I KNOW I'm new to this, and I know I shouldn't get cocky but I've picked up so much from this forum I want to weep for my past foolishness.
In the bad old days (about a week ago ) I had screens full of indicators, I had dozens of Forex sites bookmarked and I would subscribe to various RSS feeds. All designed to get me pointing in the right direction.
Not any more!..........
Since starting to absorb just a small % of all this stuff I've cleaned my act up and even had a few winning trades.nothing major yet...still to scared to let profits run as they say.
Today I was checking one of the soon-to-be-deleted RSS feeds when I saw this message, dated yesterday, (no names for obvious reasons) by an analyst at a major international bank. I quote
"EUR USD is still caught in the tight range in which it has moved in the past weeks. The upper boundary of this range is determined by the recent highs at US$ 1.2970, whereas the lower end coincides with several lows around US$ 1.2660. The consolidation period is lasting longer than expected which puts something of a cloud on our preference for a resumption of the short term uptrend. However, we hold on to our bullish outlook as the underlying RSI has not shown a negative divergence with the price action. This suggests that the bull run has not seen its pinnacle yet. Needless to say, a bearish resolution of the range would negate the bullish scenario triggering a sell-off.
All in all, the euro is in a consolidation phase which we expect to be resolved on the upside. "
Today I picked up 80 pips on the EURUSD slide thanks to Base150 so here's to the James gang and yaaboo-sucks to all other so-called experts. Most of you got more I expect but I'm happy. Until this week I expect I'd still be looking to go long as per usual.
Sorry about that but I just had to get it off my chest.
silly one, don't take anyone's prediction as absolute. You should wait until the morning open before putting a position in based on a forcast. I stop looking for help on forcasting the market a while back and I'm more happy now. Keep going and never stop learning.
great job peter. you da man.
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