i think Central Banks have other means to intervene. (im not sure how/what)
like Mike said, after some time they give up (&/or they may already have fulfilled their 'mission' so they stop intervening)
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedIt helps identify trends clearly.. You can find zigzag indicator for MT4 here -http://www.forexfactory.com/showthread.php?t=227018Ignored
DislikedSo when we look under this beob we can see this previous High/low flip. This shows us a point at which buyers were willing to BUY, and then hold that area causing that little tiny high/low flip.Ignored
DislikedI understand that, but the trend just continues in the direction it was going after the whipsaw...... ???? doesn't intervention mean a trend reverse?Ignored
DislikedBottom line: It takes alota moolah to change the trend. Does the C/bank have enough? Boils down to SS & DD per se.Ignored
DislikedThe CHF pairs are scary at the moment. They keep intervening randomly.
I have to admit , I'm spooked out of trading them for now.Ignored
DislikedIs it my spelling that is the highlight there LOL i am not a good one
OR you missed those trouble areas?
MikeIgnored
Dislikedi think he meant this
nassir you should put a R cause you just invented a word that i think will be used a lot in this threadIgnored
DislikedI had way too much sake at lunch for macroeconomics, but...
Not even that complex sometimes. Bundy summed it up here:
The SNB cant stop the franc naturally appreciating - it is a strong, safe currency - and they need it that way (the banking industry is a major component of their GDP, and no one wants an unstable swiss bank account!). And with the swiss economy improving, rate rises and increased stability is only going to continue this path.
What they can do, however, is stop a bunch of clownshoes accelerating...Ignored
DislikedSo why don't we short them after every intervention especially Eur/Chf?
(Ooops i hope it was't anybody's secret. lol)
.Ignored
DislikedNotice how Price is respecting or retesting the break of the PBs, like the Eur/Jpy. I would prefer it breaking up through the 125.00 and then respect that level.
But my point is that this type of Price behavior is favorable for the setup to continue. Will it continue? Who knows its hitting a strong PPZ level, 125.00. A strong break up through this level would tell me volumes.Ignored
DislikedJarroo(Jim^2 knows the deal_)
Check out the 4hr how well respected this area is now. So with price breaking through ideally would be a nice strong close through and if price pulls back it finds nice support by the former resistance. No need to take a big loss on these cause we know what to look forIgnored
DislikedNo but PPFX said it's my words so i thought it was pointed towards me . LOL
No i did't missed it.
i got out at +3 pips manually.
.Ignored
DislikedThat's how we roll brother.
If I would have captured that pic a minute or two later I would have snaped the break. lolIgnored
DislikedI'm trying to find a tool that automatically calculates position size. Do you guys have any suggestions?
Thanks,
PIgnored
DislikedI got out at -64p, under the H4 BEOB. That's one bad trade. Going against this big down trend is like trying to stop a freight train Superman style... But you not being Superman.Ignored