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General Trading Chat / Ideas
- #3,102
- Jul 10, 2019 6:07pm Jul 10, 2019 6:07pm
- Joined Nov 2018 | Status: Trader | 4,643 Posts
ex nihilo
- #3,103
- Jul 10, 2019 10:57pm Jul 10, 2019 10:57pm
- Joined Jun 2018 | Status: An ordinary brother | 4,595 Posts
{quote} Out - 40 pips. Again SELL at 108,78. SL=TP= 40 pips.
@ Techanalyst, do you like my overbought zone?
- #3,104
- Jul 10, 2019 11:21pm Jul 10, 2019 11:21pm
- Joined Nov 2018 | Status: Trader | 4,643 Posts
{quote} out + 84 pips. @ techanalyst, do you like my overbought zone?
ex nihilo
- #3,105
- Jul 11, 2019 12:19am Jul 11, 2019 12:19am
- Joined Nov 2018 | Status: Trader | 4,643 Posts
ex nihilo
- #3,106
- Jul 11, 2019 12:30am Jul 11, 2019 12:30am
- Joined Nov 2018 | Status: Trader | 4,643 Posts
ex nihilo
- #3,107
- Jul 11, 2019 12:31am Jul 11, 2019 12:31am
- Joined Nov 2018 | Status: Trader | 4,643 Posts
ex nihilo
- #3,108
- Jul 11, 2019 12:35am Jul 11, 2019 12:35am
- Joined Nov 2018 | Status: Trader | 4,643 Posts
ex nihilo
- #3,109
- Jul 11, 2019 12:36am Jul 11, 2019 12:36am
- Joined Nov 2018 | Status: Trader | 4,643 Posts
ex nihilo
- #3,110
- Jul 11, 2019 1:05am Jul 11, 2019 1:05am
- Joined Nov 2018 | Status: Trader | 4,643 Posts
ex nihilo
- #3,112
- Jul 11, 2019 1:22am Jul 11, 2019 1:22am
- Joined Nov 2018 | Status: Trader | 4,643 Posts
ex nihilo
- #3,113
- Jul 11, 2019 1:29am Jul 11, 2019 1:29am
- Joined Nov 2018 | Status: Trader | 4,643 Posts
ex nihilo
- #3,114
- Jul 11, 2019 2:13am Jul 11, 2019 2:13am
- Joined Dec 2018 | Status: Trader | 2,111 Posts
Added short EURAUD 1.61682
- #3,115
- Jul 11, 2019 2:16am Jul 11, 2019 2:16am
- Joined Nov 2018 | Status: Trader | 4,643 Posts
{quote} Nice h&s on h1 - ive joined u on this one
ex nihilo
- #3,116
- Jul 11, 2019 2:46am Jul 11, 2019 2:46am
- | Membership Revoked | Joined Jul 2020 | 7,294 Posts
{quote} Out + 84 pips. @ Techanalyst, do you like my overbought zone?
- #3,117
- Jul 11, 2019 2:49am Jul 11, 2019 2:49am
- Joined Jul 2016 | Status: Trader | 3,318 Posts
trading is simple but is simple is not easy.
- #3,118
- Jul 11, 2019 3:03am Jul 11, 2019 3:03am
- Joined Jul 2016 | Status: Trader | 3,318 Posts
trading is simple but is simple is not easy.
- #3,119
- Jul 11, 2019 3:22am Jul 11, 2019 3:22am
- Joined Jun 2018 | Status: An ordinary brother | 4,595 Posts
{quote} It was due to the news results. Nothing to do with overbought, oversold.
- #3,120
- Jul 11, 2019 3:37am Jul 11, 2019 3:37am
- | Membership Revoked | Joined Jul 2020 | 7,294 Posts
{quote} There is no such thing like "news result". The price goes where it has to go no matter what is news. Sometimes the news just causes a little deviation of the road.
The value of a country’s currency is affected and largely influenced by various economic indicators that reflect how a country is performing. The macroeconomic events that take place internally and internationally are factors that will have a huge effect on the value of a currency.
As a forex trader you need to be constantly on top of these data – always ready to read and interpret reports as it is released. You should be able to do this quickly as well because the market immediately reacts to these economic indicators. I know of some forex traders who are on a long position but were caught flat-footed when negative economic data was released that resulted in the currency they were trading in to fall in value. Believe me, it’s not a good position to be in. (this is my mistake yesterday on USDJPY when i opened a buy position quickly without taking news into consideration, but we all make mistakes sometimes.).
The biggest influencers of market movements are, of course, the announcements and policies made by a country’s central bank and the important monetary authorities. The most important data indicators are the interest rate announcements and monetary policy statements released by the country central banks, for example, the European Central Bank (ECB), Federal Reserve (Fed), and the Federal Open Market Committee (FOMC).