$ For The week of 10/30-With Trade Ideas | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

$ For The Week Of 11/27-With Trade Ideas 34 replies

$ For The Week of 11/20-With Trade Ideas 28 replies

$ For the Week of 11/13-With Trade Ideas 46 replies

$ For The Week of 11/6-With Trade Ideas 51 replies

$ For The week of 10/23-With Some Trade Ideas 77 replies

$ For The week of 10/30-With Trade Ideas

  • #41
  • Oct 31, 2006 9:40am Oct 31, 2006 9:40am
I found this quote from news commentary at EFXNews somewhat humorous. Thought I'd share:

The market has recently become relatively numb to volatile moves and this could set up a larger breakdown than many people have become accustomed too. Over the past several months, there has always been the opportunity to play the move from the opposite side, assuming you pick your spots well, but the current move feels more ominous and traders who go against the move risk being left behind with train tracks on their foreheads.
Mr. Trend
  • #42
  • Oct 31, 2006 9:42am Oct 31, 2006 9:42am
Quoting Mr Trend
I found this quote from news commentary at EFXNews somewhat humorous. Thought I'd share:

The market has recently become relatively numb to volatile moves and this could set up a larger breakdown than many people have become accustomed too. Over the past several months, there has always been the opportunity to play the move from the opposite side, assuming you pick your spots well, but the current move feels more ominous and traders who go against the move risk being left behind with train tracks on their foreheads.
umm i dont find that to humerous, see above statement....... lol.... but really ..........
Ghost Swoopen in for my pips while no one is lookin !!
  • #43
  • Oct 31, 2006 9:43am Oct 31, 2006 9:43am
Quoting FXopportunist
Another great call Mr. Trend.
U R gettin soooooo paid.
Thanks. But, I'm not the only one...
Mr. Trend
  • #44
  • Oct 31, 2006 9:44am Oct 31, 2006 9:44am
haha, i knew this would happen i also did that just fooling around on my demo... not good. I would never do such a thing on a live account without very good reason to do so... just because u think price is too high doesnt mean it is... if u look at the weekly chart this thing has some clear space all the way up to 9600 and it looks like we are just starting to build momentum to get there.. look at all the support below 9000 now, that will act as major resistance for USD bulls...
  • #45
  • Oct 31, 2006 9:45am Oct 31, 2006 9:45am
...and this move ain't nothin' yet. If King from the BoE (he's talking right now) has any hawkish comments, the GBP will skyrocket even more.
Mr. Trend
  • #46
  • Oct 31, 2006 9:51am Oct 31, 2006 9:51am
yes unfortunately im not in this move live had to withdraw some funds from my mini so had to wait for it settle, managed to turn my initial starting capital of 200.00 into 700.00 in a few days off some GBP\USD swing runs. Thats ok ill be back with a vengance on this pair,, will looks for key retracements to re-enter once my live acct is backonline... took out 400.00 USD in profits. Only trading 1 lot. my goal is to build this account to at least 1000.00 over the short term.
  • #47
  • Oct 31, 2006 9:54am Oct 31, 2006 9:54am
Quoting Mr Trend
...and this move ain't nothin' yet. If King from the BoE (he's talking right now) has any hawkish comments, the GBP will skyrocket even more.
I am under the impression that the rate change is a forgone conclusion and is priced in. You see it different MR. T?
Profit is where readiness meets Opportunity
  • #48
  • Oct 31, 2006 9:59am Oct 31, 2006 9:59am
Quoting FXopportunist
I am under the impression that the rate change is a forgone conclusion and is priced in. You see it different MR. T?
I see it as the psychology of the market is going to react to anything he says in the short term, regardless if it's priced in or not. Add the fact that with the newly released "jobs hard to get" numbers, if the NFP comes out $-, it could get quite interesting...

I can't predict or say where it's going -- all I know is that it had a high probability to hit my PT and I think I have a good chance at my aggressive target...
Mr. Trend
  • #49
  • Oct 31, 2006 10:02am Oct 31, 2006 10:02am
Quoting Mr Trend
Perhaps I can help. The reason why you saw it move down 30 pips isn't because of the reaction to the news... it was the usual morning fakeout.

Every morning, around 7-8AM London time, the market will take off. Like clockwork, it reverses. This is because smart money is sucking in traders so that they can reverse on them, hit their stops, and create liquidity for the real move, which in this case, is bullish.

This happens very reliably. Not every time, but enough that you can develop a system for it...

Remember -- forex trading is all about liquidity. It's all about sucking in the dumb money to make big money for the smart traders... That's how banks and institutions work.

If I'm a bank, I'm gonna push the market down just enough to start getting people to go with me... because I know, psychologically, that even if people hang on, at some point they'll turn around and run in that direction... that's when I reverse it on them and hit them hard, triggering their stops, which then adds more liquidity for my clients who are wanting to put on the actual trade size that moves the market hard and fast...

Hope this helps.
Must be nice to be awake for that London open thats 1 am here for me i live in central time america......
Ghost Swoopen in for my pips while no one is lookin !!
  • #50
  • Oct 31, 2006 10:17am Oct 31, 2006 10:17am
The Fundamentals Never Fail-How Easy is This?

CC wasn't up to the consensus and the Chi Pur Man # was very, very $-. This isn't rocket science. You have a currency who's rate is tipped to go up (GBP) and one that isn't (USD). You have new, very negative info on the currency that's not tipped to be raising it's rate. You buy the currency that is. You make a lot of money. See how easy this is?

BTW, the CPM # is usually very indicative of tomorrow's ISM. So what I'm hoping with all my greedy little heart to see is a nice big round of profit taking to occur later today or in London, because that will set up an excellent buying opportunity in cable. Not that I have any idea if we'll see that, but one can only live in hope and die in despair...
  • #51
  • Oct 31, 2006 12:09pm Oct 31, 2006 12:09pm
Perhaps I can help. The reason why you saw it move down 30 pips isn't because of the reaction to the news... it was the usual morning fakeout.

Every morning, around 7-8AM London time, the market will take off. Like clockwork, it reverses. This is because smart money is sucking in traders so that they can reverse on them, hit their stops, and create liquidity for the real move, which in this case, is bullish.

This happens very reliably. Not every time, but enough that you can develop a system for it...

Remember -- forex trading is all about liquidity. It's all about sucking in the dumb money to make big money for the smart traders... That's how banks and institutions work.

If I'm a bank, I'm gonna push the market down just enough to start getting people to go with me... because I know, psychologically, that even if people hang on, at some point they'll turn around and run in that direction... that's when I reverse it on them and hit them hard, triggering their stops, which then adds more liquidity for my clients who are wanting to put on the actual trade size that moves the market hard and fast...

Hope this helps.<!-- / message --><!-- sig -->

__________________
Mr. Trend

Not sure which time period ur reffering to-if it's over the London session I really couldn't disagree with you more. Moves like this have nothing to do with anybody trying to "fake out" anyone else. These moves are related to what has occured in the market previously and how they see things going in the future. What happened previously was a lot of long money getting into the pound all the way back to last Wed after the FOMC. People made some money and they want to cash in some of their chips. Simple as that. Afterwards, we saw some re-positioning as traders re-bought into suspected further $ neg numbers later in the day.

We're very likely to see the same thing in London again. Traders have more profits on the table after today's move. Why wouldn't they want to take some profit out of this?

Reading the market's thinking here is really very simple. We have an important number coming out again tom-the ISM. Let's see where NY closes in the GBP. Let's say it's around 9080. Don't be surprised to see London sell it down to around the 9030-50 area. If it holds there, or if re-buying occurs, we'll know that all the long money is pretty much convinced the ISM tom will be $ neg. A massive sell-off will convince me of the opposite. If no profit taking occurs, or if it goes up in London, that tells me traders are leaving all their chips on the table for a $ neg ISM.

One last important thing to remember about today's CPM and tomorrows ISM; These aren't gov't numbers. There put out by private organizations. Hedge funds, banks, etc have their own contacts and they probably can get a very good reading as to how these numbers will look. At the least, if you can read how the smart money is thinking, you can trade along with them. They have the contacts, done the research and have traded accordingly. Personally, i'd rather trade with them then against them.
  • #52
  • Oct 31, 2006 12:33pm Oct 31, 2006 12:33pm
Ughh. Ok. That's fine. You can disagree with me all you want.

Sorry if you thought I was hijacking your thread with my opinions. I don't confess to be much of a fundamentalist or anything, so...
Mr. Trend
  • #53
  • Oct 31, 2006 12:42pm Oct 31, 2006 12:42pm
Quoting Mr Trend
Ughh. Ok. That's fine. You can disagree with me all you want.

Sorry if you thought I was hijacking your thread with my opinions. I don't confess to be much of a fundamentalist or anything, so...
ALL OPINIONS ARE WELCOME
Ghost Swoopen in for my pips while no one is lookin !!
  • #54
  • Oct 31, 2006 12:44pm Oct 31, 2006 12:44pm
Who really cares about the WHY? I'm making Money and that's all that really matters in my book. Wealthy economists are difficult to find. Send me your address Newstraderfx and I'll send you a nickel for your thoughts


Quoting NewstraderFX
Perhaps I can help. The reason why you saw it move down 30 pips isn't because of the reaction to the news... it was the usual morning fakeout.

Every morning, around 7-8AM London time, the market will take off. Like clockwork, it reverses. This is because smart money is sucking in traders so that they can reverse on them, hit their stops, and create liquidity for the real move, which in this case, is bullish.

This happens very reliably. Not every time, but enough that you can develop a system for it...

Remember -- forex trading is all about liquidity. It's all about sucking in the dumb money to make big money for the smart traders... That's how banks and institutions work.

If I'm a bank, I'm gonna push the market down just enough to start getting people to go with me... because I know, psychologically, that even if people hang on, at some point they'll turn around and run in that direction... that's when I reverse it on them and hit them hard, triggering their stops, which then adds more liquidity for my clients who are wanting to put on the actual trade size that moves the market hard and fast...

Hope this helps.<!-- / message --><!-- sig -->

__________________
Mr. Trend

Not sure which time period ur reffering to-if it's over the London session I really couldn't disagree with you more. Moves like this have nothing to do with anybody trying to "fake out" anyone else. These moves are related to what has occured in the market previously and how they see things going in the future. What happened previously was a lot of long money getting into the pound all the way back to last Wed after the FOMC. People made some money and they want to cash in some of their chips. Simple as that. Afterwards, we saw some re-positioning as traders re-bought into suspected further $ neg numbers later in the day.

We're very likely to see the same thing in London again. Traders have more profits on the table after today's move. Why wouldn't they want to take some profit out of this?

Reading the market's thinking here is really very simple. We have an important number coming out again tom-the ISM. Let's see where NY closes in the GBP. Let's say it's around 9080. Don't be surprised to see London sell it down to around the 9030-50 area. If it holds there, or if re-buying occurs, we'll know that all the long money is pretty much convinced the ISM tom will be $ neg. A massive sell-off will convince me of the opposite. If no profit taking occurs, or if it goes up in London, that tells me traders are leaving all their chips on the table for a $ neg ISM.

One last important thing to remember about today's CPM and tomorrows ISM; These aren't gov't numbers. There put out by private organizations. Hedge funds, banks, etc have their own contacts and they probably can get a very good reading as to how these numbers will look. At the least, if you can read how the smart money is thinking, you can trade along with them. They have the contacts, done the research and have traded accordingly. Personally, i'd rather trade with them then against them.
Trade what you see - Not what you think
  • #55
  • Oct 31, 2006 1:15pm Oct 31, 2006 1:15pm
Hey Summit-why am I not not surprised to u see making claims of profits when u havn't posted a damn thing...post a trade on my thread or STF up...K?
  • #56
  • Oct 31, 2006 1:30pm Oct 31, 2006 1:30pm
price consolidating now beneath 9100 RN, forming typical bull flag type pattern we have seen here time and again on this uptrend... from a technical angle id say next upside target would be 9150 with support down at 9050 short term.. hard to say which way london will push this pair we might get a profit taking sell off early on then a quick reversal or might stay dormant until the news drops tommorrow..
  • #57
  • Oct 31, 2006 1:32pm Oct 31, 2006 1:32pm
it also looks like we have a good cluster of short term support at the 9000 handle for now.. at least. Key break of daily trendline connecting highs going back to august 7th.
  • #58
  • Oct 31, 2006 1:55pm Oct 31, 2006 1:55pm
Quoting enoc2g
price consolidating now beneath 9100 RN, forming typical bull flag type pattern we have seen here time and again on this uptrend... from a technical angle id say next upside target would be 9150 with support down at 9050 short term.. hard to say which way london will push this pair we might get a profit taking sell off early on then a quick reversal or might stay dormant until the news drops tommorrow..
That's good to know-I was planning on buying around there if possible so let's see if London sells off to that level.

Did u find the support yesterday around the 8870 level? We saw 100+ pips happen today from there...love to see a similar move tomorrow...
  • #59
  • Oct 31, 2006 2:07pm Oct 31, 2006 2:07pm
Quoting Mr Trend
Ughh. Ok. That's fine. You can disagree with me all you want.

Sorry if you thought I was hijacking your thread with my opinions. I don't confess to be much of a fundamentalist or anything, so...
Not at all Mr Trend-I appreciate ur posts-sorry if I got a bit aggresive there...ur opinion's always welcome.

BTW i've been meaning to read Elder's book. I have a cousin who's a professional bond trader-Elder's book is required reading in his shop....
  • #60
  • Oct 31, 2006 2:08pm Oct 31, 2006 2:08pm
Quoting Ghostpipper
ALL OPINIONS ARE WELCOME
Agree 100%-welcomed and encouraged...
0 traders viewing now