Technical Analysis Fallacy

Sometimes i am shocked.... When something is logical, but somebody use words like: "Sure... but it is not like that..." And after it is proved, they can argue: "Sure, one cup of tea + one cup of tea are 400ml of tea.... you see that 1 and 1 is 400".

double that.


V

Hi maheswara

Forexangel for you ;o)

Well done Gro, well done,

hello maheswara how are you ? apa khabar ?

hey thanks gro

how u doin ?

hey sumakianlee ,
kabar baik , apa kabar juga ?

caught in that e/u move down, sure would like to see this 4555 area do something, first rescue in, I sure dont feel like chasing much further.
pulled it out and scouts in at 55 will see what this 63-67 area does.

Hi ALL,
Still very full plate, the task gets harder.
I hope all is well.

while I am undisposed, chew on this.

trade well.

regards

Psalms 7

jesus , he is saviour.


When you do the Lord's work, you shall be tested to the bones.

Anyone trading there? Just dropped a small short to taste the breakout at 1.45763.
I am getting the feeling there aren't many people here trading the London session, too bad, I love the thread but it feels a bit lonely here during the day (in my time zone ).

Good to see you back, fti. Thanks for the posts, and hope you are well.

hey setebos,

yeah trading very small long @ 4542. have a feeling the down move has come a lot way... ready to take a litlle loss and certainly no rescue for me.
mostly there is more chat here during NY afternoon, i think during london session it's eyes on the chart..... i am going to do that now.

edit: danger... news volatility could take out stops below the LOW. iam out 3 pips loss
greets, pax

Hi Friends,

trading could make so much fun.
Trading USDJPY short at the moment

Wish you all the best !

Hey J,

My short didn't feel very confident so I banked it at 1.45593.
I'm still trying to pull my short yen scout from yesterday's deployment - my eyes are closing now, I'll have to place some automated targets to take me out at a descent level or fight to save my squads tomorrow morning. Anyway, yen went crazy after the news, good thing it's coming back in its boots, I need to be more careful with the news releases in future.

Cheers
Stan

lusan, are you working with e/u?
Im walking back up with her but she sure doesnt seem motivated to head north my eyes are exta wide at @ 4535 area where she sat for over 8 hrs and just beyond that also @ 4555-70 area

watchen a/u 8710 area also, still walking up but lookn for direction

1.4550 is still holding. My bias is still short for the EUR/USD untill Europe/London opens. Careful trading today and will be squared before NFP numbers comes out. All the best for trading today. Ray

thanks for the nfp warning ,didnt realize its today ...

Morning chaps

EUR feels weird this morning - Friday + bunch of news = extra careful trading today. Good luck to you all.

P.S. Managed to save my short YEN squads last night! Feels good!

Good Morning Friends!

Just something to read:

Intervention is back on the agenda
By Nicholas Hastings
A DOW JONES NEWSWIRES COLUMN

LONDON (Dow Jones)--The Australians have probably been doing it.
The Swiss have almost certainly done it.
The Japanese are hoping they won't have to do it.
And now the Europeans look as it they wish they could do it.
Intervene to cap their currencies, that is.
Manipulating currencies was once seen as a thing of the past - a monetary relic employed by non-free marketeers such as the Chinese.
By 2004, even Japan, which had religiously intervened to keep the yen competitive in the past, bit the free-floating bullet and gave the bad habit up.
From then on, most major currencies were left to their own devices, buffeted only by interest rates, risk and underlying flows. Intervention became nothing more than the occasional sound-bite with government or central bank officials voicing satisfaction or otherwise with currency levels.
However, the credit crunch appears to have brought an end to those halcyon days.
With most major economies struggling to climb out of one of the worst recessions in recent history, export-orientated economies are finding they can't afford the luxury of just letting their currencies go.
Those that have found their currencies benefiting from a fall in the dollar and the recent ebbs and flows of global risk appetite have been forced to take action to prevent their exports from becoming uncompetitive.
For months, foreign reserve figures from the Reserve Bank of Australia have suggested it has been keeping a discreet lid on the Aussie's advance through covert intervention that has attracted little attention.
The Swiss National Bank has been less discreet.
In March, in June and again this week, the Swiss central bank has waded into the currency market all guns blazing in an effort to stop the euro from falling under CHF1.50. The bank may not actually admit to partaking in any of the exercises but its intention is pretty clear.
See chart at
http://www.dowjoneswebservices.com/chart/view/2889
So far, the Japanese have been spared the ignominy of public action. However, the new Japanese government that came to power early last month could well find a battle on its hands.
In what could only be described as a major policy mistake, the brand-new finance minister stated that intervention would never be employed to halt the yen's advance. Little did he know this was like waving a red flag at a bull and speculators immediately pushed the yen higher to test his resolve.
The minister has since backed down, suggesting that market intervention could yet be employed. However, his reversal could be too late, and as the Japanese economy continues to flounder and export growth becomes even more important, he may be forced to cap the yen's rally.
But it is the growing concern from euro-zone officials over the strength of the euro that is now grabbing market attention.
Like any other exporter, the euro zone is suffering from the recent rise in its currency. Since March, the euro has rallied by more than 15% against the dollar and for Germany, where exports account for as much as 45% of GDP, this is not good news.
This week, officials, including European Central Bank President Jean-Claude Trichet, have been out in force talking of the need for a strong dollar and suggesting the euro's weakness will be on the agenda at this weekend's Group of Seven leading nations summit in Istanbul.
Of course, this does not mean that the ECB will be abandoning its free-floating principles just yet. However, it does highlight the increased pressure on national governments and central banks to protect their own economies with the competitive devaluations that they once abhorred.
Early Friday in Europe, currencies were once again being driven by falling investor appetite for risk. A disappointing Institute for Supply Management survey from the U.S. and fears that the non-farm payrolls data will show a larger than expected 175,000 decline later Friday have both contributed to the slide in sentiment that has sent equity markets tumbling.
By 0645 GMT, the dollar had eased back to Y89.58 from Y89.77 late on Thursday in New York, according to EBS.
The dollar was generally higher elsewhere but the euro staged a rebound after early losses, rising to $1.4547 from $1.4526. It was still down against the yen at Y130.28 from Y130.39.
Bloomberg TNI FRX POV
Reuters USD/DJ
Thomson P/1066 or P/1074
(Nick Hastings has covered the foreign exchange markets and industry for over 15 years. Apart from his written commentary and analysis, he also appears on CNBC television in Europe, Asia and the U.S. He can be contacted on +44-2... or by email: [i][email protected][/i])
TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at [i][email protected][/i]. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.


(END) Dow Jones Newswires
October 02, 2009 03:15 ET (07:15 GMT)

Disclaimer: Be aware of possible Cow Dund included ;-)

market ranges waiting for nfp i guess
no electricity at home ... @cafe nearby

Whisper numbers yesterday are worse than expected, will probably be a wild ride, stay nimble everyone.

@ Mash, be safe hope you and yours are fairing well.