Looks like a fairly neutral close on that bar. Neither buyers or sellers won that 4 hour fight, meaning not much can be taken from it regarding direction

I think it's seen as a safe haven right now, perhaps wrongly, but when you consider the G4 currencies.. USA - QE Infinity driving down the dollar Eurozone - Obvious risks there Japan - High risk of BOJ intervention to de-value the Yen United Kingdom ...

I think they will have a hard time justifying it if Augusts Job number comes in strong. In fact since we are bouncing around the highs in US equities already it seems QE3 is already somewhat priced in. Which means shorting stocks into the September ...

One reason could be that people are placing bets that Germany will exit the Eurozone. If you own a German bond currently priced in Euros it will have to be re denominated in Germany's new currency. Which will quickly appreciate (50% or so was the ...

But would you have realized so quickly that your trades were random or amateurish if you were't keeping a journal? My experience is that a journal is essential for all phases of your trading career. It can help in many ways, but perhaps most ...

Hi forextrini! Currently the Euro is seen as a 'risk' currency meaning that it moves in correlation with the stock market, Therefore EUR/USD is likely to rise on perceived good economic data, whether it be in Europe Asia or the US. The USD is ...

Watch out for the Spanish 10-year-yield today guys. every time I glance at it it's increased a bit. Currently at 5.93% Will probably hit the headlines when it reaches 6% Only 1% away from the magic 7% bailout level!!

With day to day economic releases (CPI/Retail sales/Housing starts and so on) it's more or less impossible to profit from the initial market reaction. This is because institutions develop algorithms that plug into Reuters etc and automatically place ...

I guess whichever currency is showing bullish Price Action on the monthly chart?? Seriously though I don't think it matters. I think most people keep their accounts in their home currency. Assuming your broker gives you an option Jonny

url Here he is in action; video You can tell this is a BS publicity stunt. He has something to sell. Genius plan though. Worldwide coverage and it only cost him 250k!

Hi Quezoy I would always enter after the weekend. That way we avoid 'event risk' I.e Market moving news occurring over the weekend meaning we could gap up or down the following week Jonny

PPZ

If you ask those who work in prop shops they will tell you the market is 99.99999% bots Most of their day consists of slamming the desk and chanting 'f***ing algos* in unicen

530 BN 800 Bidders Bad news

Basically as the session progresses the profile builds, the 'fattest' part of the profile would be where the price has the most time which represents 'accepted' prices. It's just another way of organizing data to highlight accepted and rejected ...

PS you could use a Volume profile of 6E etc (the futures derivative of Eur/Usd) and execute your trades in the spot market, since they are highly correlated

Traditional market profile is time based, not volume based, so it can be used in the forex market. It's hard to obtain for free, I use Investor R/T with DTN IQ feed, but I believe there is a thread around here somewhere where some generous coder has ...

Stops placed just behind highs/lows are suckers stops IMO. I would say it's worth sacrificing some RR and place the stop 10-15 ticks beyond the swing point, depending on the pair/timeframe etc

Yeah been busy. I mostly daytrade which requires my undivided attention while I'm working and when I'm not working I wanna be as far away from the screens as possible Which doesn't leave much time for forums. But I do like to drop in here ...