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  • #1,124,541
  • Jul 23, 2017 1:50pm Jul 23, 2017 1:50pm
Quoting denisius
{quote} Where did you hear shit like that 1.12%? Are you working on Wall Street? Just right after raising rates they will reduce it a little like this??? Dude think twice before writing something like this public. Or you will earn label " incompetent ". Who are " they" you referring too? Please if you know very little at this point about how fundamental analysis works or anything about Federal Reserve and its decision I suggest you not to talk about it. You make wrong conclusion! Study technical! Avoid fundamental until you fully understand it!
Errrrrm it shows that figure as the forecast on my brokerage site and why I would I need to work on wallstreet to have access to forecasts.

Come on stick to constructive criticism.

Fundamentals is what drives markets. Tehnicals will not make you rich when it comes to trading. You need things like Ransquawk and reuters to have access to instant data.
  • #1,124,542
  • Jul 23, 2017 1:54pm Jul 23, 2017 1:54pm
Quoting Not-KPMG
{quote} The fundie vs technical?? Come on, use both. I won't waste time arguing - just listing them : Technical : extensions after retrace. Works ok. Divergence - sometime. Fundamentals : Draghi, Yellen, Trumpy, GDP etc... So Draghi says up. Yellen is lately just moaning, not saying much. She was hawk last year. Trumpy??? The craziest horse. UJ 95 euro 1.35 tomorrow is normal with him. USA data - bad - no hike..... So??? So as you see - trade technicals but only buy. Simple!!! GL.
This is very basic and if there is such a thing as a fundamental trading what you listed here would be level 1 i am guessing. There is either much more to it or it's not even worth the trouble.
  • #1,124,543
  • Jul 23, 2017 2:18pm Jul 23, 2017 2:18pm
Someone buying a home to flip versus someone that’s buying a home to live in for years to come
  • #1,124,544
  • Jul 23, 2017 2:27pm Jul 23, 2017 2:27pm
Quoting Samson85
{quote} Errrrrm it shows that figure as the forecast on my brokerage site and why I would I need to work on wallstreet to have access to forecasts. Come on stick to constructive criticism. Fundamentals is what drives markets. Tehnicals will not make you rich when it comes to trading. You need things like Ransquawk and reuters to have access to instant data.
Do you use ransquawk or their little brother (talking-forex)? RS is too much if you don't trade equities/bonds etc.
  • #1,124,545
  • Jul 23, 2017 2:38pm Jul 23, 2017 2:38pm
Quoting Not-KPMG
{quote} Well...if I can extend this And make fun of random-line guys GL. Green pips all guys!!! Girls!! PS: i trade 30min. {image}
hahaha taken my cxreenshot i shared earlier and placed a copyright on it lol

https://www.forexfactory.com/showthr...5#post10112965
  • #1,124,546
  • Jul 23, 2017 2:42pm Jul 23, 2017 2:42pm


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  • #1,124,547
  • Jul 23, 2017 2:46pm Jul 23, 2017 2:46pm
Quoting Not-KPMG
{quote} The fundie vs technical?? Come on, use both. I won't waste time arguing - just listing them : Technical : extensions after retrace. Works ok. Divergence - sometime. Fundamentals : Draghi, Yellen, Trumpy, GDP etc... So Draghi says up. Yellen is lately just moaning, not saying much. She was hawk last year. Trumpy??? The craziest horse. UJ 95 euro 1.35 tomorrow is normal with him. USA data - bad - no hike..... So??? So as you see - trade technicals but only buy. Simple!!! GL.
Just Chestnut ...
Attached Image
Always looking the GREAT, never left GOOD Point...
  • #1,124,548
  • Jul 23, 2017 3:25pm Jul 23, 2017 3:25pm
Fundamentals vs technicals:

First, there is no right or wrong. Most use a little bit of both I guess. If you have found success in the fundamentals go for it, and likewise, if you found success with technicals, then you know what to do. Me? I used to be heavy in the fundamentals but found that I was on the computer every waking hour so I shifted more to the technicals and discovered I was able to understand chart patterns better than understanding announcements from central banks, the political climate and on and on.

Even if the fundamentals skew a pattern, it is usually short lived--unless it's something like a nuclear plant explosion or war declared. It's what you are successful at and this just takes time and practice. Demo accounts are ok but eventually you need to have skin in the game in order for you to truly understand the mistakes, as well as the accomplishments and use them to your advantage in future buys and sells.

The difference between a professional fxtrader and a amatuer--one still learning--is the professional makes a consistent profit. They don't have to be in a office building. They can easily be by their backyard pool and be just as effective.

My indicators:
For entry:
RSI breaking the 30% or 70% on a 4 hour or Daily chart
Note: this is regardless of whether the currency pair is in an uptrend or downtrend since my sole concern is retracement strategy.

For confirmation:
200 SMA Just for general trending purposes
50 SMA determining whether the 20 SMA and 10 SMA is above or below the 50 SMA
20 SMA
10 SMA
Bollinger Bands to determine any extreme price action
Heiken Ashi candles for smoothing erratic price action regardless if it's a 15 minute chart or daily chart

For exit strategy:
Fibonacci Retracement usually just above the 50% and sometimes 61.8%

And then analyze results.
Attached Image (click to enlarge)
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Taigen Profit This Month: na
  • #1,124,549
  • Jul 23, 2017 3:25pm Jul 23, 2017 3:25pm
Quoting Stillearnin
{quote} I see. So...if i call bs on this would you be able to sway me and show me the truth? Or will you refer me google to inform myself like i seen most fundie believers do when challenged?
Well...

I think it's pretty self-explanatory.

If you want to learn football (soccer), would you try to emulate (listen to) Messi/Ronaldo (the pros), or that random guy in the local league?

Rofl!
  • #1,124,550
  • Jul 23, 2017 3:34pm Jul 23, 2017 3:34pm
Quoting Not-KPMG
{quote} Well...if I can extend this And make fun of random-line guys GL. Green pips all guys!!! Girls!! PS: i trade 30min. {image}
NOT........your target ...1.39 50 . . . . why don't you make it 1.40 . . . . ? You confuse me with the decimals . . .

WELL...if you have information that USA is going to be hit by 20 nuclear missiles next week ....well this is a natural outcome ... might even touch 1.40 55

  • #1,124,551
  • Jul 23, 2017 3:35pm Jul 23, 2017 3:35pm
Quoting effix02
{quote} I think you're wrong saying that they won't be any more rate hikes this year. That's the first real opportunity for Fed to do what they signal. They backtracked from their words last two years always finding the excuses not to hike and bringing the damage to their reputation. They are on completely different path now and I don't believe they will make the same mistake again. Rate hikes are well overdue anyway and at the very low levels historically. That's the first year the economy condition gives a chance to move on. Not sure where you...
Time will tell! Only 5 months left
  • #1,124,552
  • Jul 23, 2017 3:46pm Jul 23, 2017 3:46pm
Quoting PatienceFx
{quote} hahaha taken my cxreenshot i shared earlier and placed a copyright on it lol https://www.forexfactory.com/showthr...5#post10112965
Ha
Your chart, admittedly, and here is your 2 cent , was barely verily empty..... Oops.

So you proud of three odd lines and MetaQuotes work??

BUT

My magnificent Picasso -class work done on Android phone is The Museum of Forex asset
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Beware of robber banks (RB), bad advisors.
  • #1,124,553
  • Jul 23, 2017 3:52pm Jul 23, 2017 3:52pm
Quoting falcon72202
{quote} So which indicators do professionals use that gives them such flexibility, freedom?
I'm not sure what you mean. Flexibility? Freedom? Find indicators that work for you. Copy those who are successful. If you want flexibility and freedom go on welfare.

You develop a strategy by trial and error and then analyze what went right and what went wrong. If the market went against you determine if you neglected something or if it was just the randomness of the market. A professional doesn't blame the central banks, the brokers or anyone else. They learn from their mistakes. If you are at a consistent 6 win 4 loss outcome, you are making money my friend. If you get to a 7-8 win loss ratio, you are making big bucks.

My indicators are totally unique to my strategy which is to make a few pips on retracement. Others may be to buy and sell on the stair steps. There are a gazillion indicators out there. Keep trying them out until you find one that works for you.

I equate professionals to people who consistently win.
Taigen Profit This Month: na
  • #1,124,554
  • Jul 23, 2017 3:55pm Jul 23, 2017 3:55pm
Quoting Samson85
{quote} Errrrrm it shows that figure as the forecast on my brokerage site and why I would I need to work on wallstreet to have access to forecasts. Come on stick to constructive criticism. Fundamentals is what drives markets. Tehnicals will not make you rich when it comes to trading. You need things like Ransquawk and reuters to have access to instant data.
Yes it does. Fundamentals gives momentum. Can't argue with that. Again truth is we all bunch of speculators with more or less experience!
  • #1,124,555
  • Jul 23, 2017 3:55pm Jul 23, 2017 3:55pm
Quoting F.g
{quote} NOT........your target ...1.39 50 . . . . why don't you make it 1.40 . . . . ?
You confuse me with the decimals . . . WELL...if you have information that USA is going to be hit by 20 nuclear missiles next week ....well this is a natural outcome ... might even touch 1.40 55
Well...
Trumpy goes nuclear... and Tomahawk missiles now...

The 2014 drop was just a thingy related to ECB policy.... When they cut rate (i bloody missed the news) it sank 400 pips a week.

My target is indeed a joke - but solid one, and with Trumpy up there and Draghi talking..... It's not much of a joke
Ideas??

1.40 will see such sell force, that it will be defended. 3950 - noone will defend
Psychology buddy
Forex is 60% patience, 30% psychology.

Anyway, I'm finished with future stuff... I'm small frame guy now. Longs preferred.

So guys, be happy, trade merry, don't bite me for helping..

GL.
Beware of robber banks (RB), bad advisors.
  • #1,124,556
  • Jul 23, 2017 4:01pm Jul 23, 2017 4:01pm
Think about it, if it were in Trumps power or any world leaders power to devalue their currency, they would do it in a heartbeat. Trump would love it if the euro went up to 1.40. That would stimulate the US economy more than anything. If he's crazy, he's crazy like a fox.
Taigen Profit This Month: na
  • #1,124,557
  • Jul 23, 2017 4:29pm Jul 23, 2017 4:29pm
Quoting Taigen
{quote} My experience would suggest that political events have little to do with the markets as it's all about the economy. I don't even look at fudementals anymore--at least not daily events. Natural disasters can have more influence in my opinion. The technicals seem to have more value such as the RSI breaking the 30% or 70%. Right now it broke the 70% so it is reasonable to expect a retrace.
In my view political results can have great importance on the long term direction of a currency.....

Personally I only trade TA but I keep my ear on the ground for FA, many times the combination of the two gives fantastic results....just look at cable where she reversed a strong bull from a double top lately in combination with negative release....and this happens quite often....

Regarding EU in TA terms it is clear is a bull and will be a bull until it proven otherwise........

Of course ONE can make money in a bull by being a bear....nothing wrong with that....it all depends on your system......personally I also make money when I am wrong......

Best in my view is to have more then one system to get a grip on the different market conditions....
trading is simple but is simple is not easy.
  • #1,124,558
  • Jul 23, 2017 4:32pm Jul 23, 2017 4:32pm
Here's why I think EURUSD will retrace in the medium term this week.

On the daily time frame, price action has moved northward respecting an ascending trendline (navy colour) from the low of April 2017. A much likely follow-up price action is a retest of the trendline at an area of value, much likely at the most recent horizontal support zone; this is around the 1.14520 area. We may see a brief period of consolidation or a slight upward move of about 30-50 pips before this.

On the H4 time frame, price action has moved away from the outer ascending trendline (navy colour) seen on the daily time frame to respect an inner ascending trendline (magenta coour). The last H4 session on Friday resulted in a bearish pinbar or shooting star. If this is followed through by price action this week, we should expect a southward turnaround, perhaps to test the trendline. Should the trendline be broken southward, this may target the outer/lower trendline (navy colour), perhaps around the 1.14520 area.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #1,124,559
  • Edited 4:58pm Jul 23, 2017 4:39pm | Edited 4:58pm
mr.spread is going to take my entry at the very very worst... if not then watching 1.1686 1.1690 and 1.1695 (DT around 1.17145 and then 1.1722

EDIT: yep one got me... spread was 2 pips on that little candle then... so it best not be the high... probs will but have to see, BS asia going to have the high probs
  • #1,124,560
  • Jul 23, 2017 4:44pm Jul 23, 2017 4:44pm
"...Best in my view is to have more then one system to get a grip on the different market conditions...."

That's how I view it. And yes, fundamentals do affect long term. I'm more short term when trading.
Taigen Profit This Month: na
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