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  • #1,203,181
  • Nov 12, 2021 7:17am Nov 12, 2021 7:17am
US consumer confidence came out low, so that means it's a pullback day. EU is not making a pullback but GU is giving a good opportunity to add shorts.
You have to have an IQ higher than 90 to interact with this user.
  • #1,203,182
  • Nov 12, 2021 7:19am Nov 12, 2021 7:19am
No shorts for me we breaking out of ending diagonals in multiple time frames
I need back up where's my boy Robinhood we got sock puppets in the area haha.
Founder of Sutherland Wave Principle
  • #1,203,183
  • Edited 7:44am Nov 12, 2021 7:28am | Edited 7:44am
M1 It's contracting triangle bullish
H1 Bullish Crab Pattern completed
H4 Ending diagonal triangle bull break, *bull crab formation targets 1421 for +1618!
D1 50% retrace line
MO looking like a compression triangle
Y1 It's a long way to the top of the yearly channel line
Founder of Sutherland Wave Principle
  • #1,203,184
  • Nov 12, 2021 8:02am Nov 12, 2021 8:02am
Quoting Nordling00
US consumer confidence came out low...
USD is quite strong when viewed on a chart! But in reality, it is failing. Everything is getting more and more expensive in the U.S. And the reason for this is the dollar is losing buying power due to excessive printing of money and massive debt. This is what happens when stupid people are put in charge of important matters.
Learn from your mistakes and march on.
  • #1,203,185
  • Nov 12, 2021 8:08am Nov 12, 2021 8:08am
Quoting Nordling00
US consumer confidence came out low, so that means it's a pullback day. EU is not making a pullback but GU is giving a good opportunity to add shorts.
looks like eu needed to be back tested. there might not be the impetus today given the hols next week. we'll see.

not going to hold this unless the bulls show who is charge.
In tea leaves we trust!
  • #1,203,186
  • Nov 12, 2021 8:42am Nov 12, 2021 8:42am
It found some support at 1.1445 but it still looks pretty bearish to me, I think it will likely continue depreciating after a retracement.
  • #1,203,187
  • Nov 12, 2021 8:53am Nov 12, 2021 8:53am
Quoting Mcbeaners
{quote} looks like eu needed to be back tested. there might not be the impetus today given the hols next week. we'll see. not going to hold this unless the bulls show who is charge.
no liquidity (futs) above trendline, funny seen that number before....
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In tea leaves we trust!
  • #1,203,188
  • Nov 12, 2021 8:54am Nov 12, 2021 8:54am
Quoting Mcbeaners
{quote} no liquidity (futs) above trendline, funny seen that number before.... {image}
15403.....
In tea leaves we trust!
  • #1,203,189
  • Nov 12, 2021 9:56am Nov 12, 2021 9:56am
Quoting here2there
{quote} USD is quite strong when viewed on a chart! But in reality, it is failing. Everything is getting more and more expensive in the U.S. And the reason for this is the dollar is losing buying power due to excessive printing of money and massive debt. This is what happens when stupid people are put in charge of important matters.
Well, i am not an American i don't know which party is better for the Americans, but all i can say is as traders (whether you are an American or not) our job is to take advantage of the current situation whether it is right or wrong. So US government may be doing the right thing or the wrong thing. I won't trade based on my outlook about the US politicians. I will just trade on the economic numbers and the FED's decisions. Remember, as traders we are not idealists, we are opportunists that's the nature of our business.
You have to have an IQ higher than 90 to interact with this user.
  • #1,203,190
  • Nov 12, 2021 10:01am Nov 12, 2021 10:01am
Triangle porn
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Founder of Sutherland Wave Principle
  • #1,203,191
  • Nov 12, 2021 10:16am Nov 12, 2021 10:16am
Quoting Nordling00
{quote} Well, i am not an American i don't know which party is better for the Americans, but all i can say is as traders (whether you are an American or not) our job is to take advantage of the current situation whether it is right or wrong. So US government may be doing the right thing or the wrong thing. I won't trade based on my outlook about the US politicians. I will just trade on the economic numbers and the FED's decisions. Remember, as traders we are not idealists, we are opportunists that's the nature of our business.
USD will do just fine. They are doing good according to economy. So we will follow macro and micro economics, not some opinions with no backed up evidence on FF. DXY forecast is it will reach to about 97.33. Trade safe.

https://tradingeconomics.com/united-states/currency
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  • #1,203,192
  • Nov 12, 2021 10:41am Nov 12, 2021 10:41am
Quoting Techanalyst
{quote} ...They are doing good according to economy...
According to who? You aren't the one living here! Don't speak with authority on things you don't understand. There is what is reported in the news, and then there is reality. These don't always match!
Learn from your mistakes and march on.
  • #1,203,193
  • Nov 12, 2021 10:44am Nov 12, 2021 10:44am
Quoting Nordling00
{quote} Well, i am not an American i don't know which party is better for the Americans..
The wrong people are in charge! They are pedaling communism. Communism is not American.
Learn from your mistakes and march on.
  • #1,203,194
  • Nov 12, 2021 10:52am Nov 12, 2021 10:52am
Today I chose wrong currency pair to trade. Look how they popped up AUDUSD, GBPUSD
  • #1,203,195
  • Nov 12, 2021 10:58am Nov 12, 2021 10:58am
Quoting here2there
{quote} The wrong people are in charge! They are pedaling communism. Communism is not American.
Said by a die hard Trump supporter whom no matter how good Biden perform, they will ignore and just make all the negative they can say. Take your bias politics with you. We are trading here. Post your trades or shut the fuck up. Biden=communism? Tsk,tsk... pathetic!
Only an idiot knows with certainty to where the market is going.
  • #1,203,196
  • Nov 12, 2021 11:04am Nov 12, 2021 11:04am
Quoting MrBullBear
{quote} Said by a die hard Trump supporter whom no matter how good Biden perform, they will ignore and just make all the negative they can say. Take your bias politics with you. We are trading here. Post your trades or shut the fuck up. Biden=communism? Tsk,tsk... pathetic!
Biden is a total failure, and an idiot. He is clearly not about serving 'we the people,' but only the elite. You are deluded if you think he is worthy of holding the highest office in the U.S.

And no, I am not a die hard Trump supporter.
Learn from your mistakes and march on.
  • #1,203,197
  • Nov 12, 2021 11:05am Nov 12, 2021 11:05am
Quoting here2there
{quote} According to who? You aren't the one living here! Don't speak with authority on things you don't understand. There is what is reported in the news, and then there is reality. These don't always match!
Does not matter where you live. Economy does not work based on your feelings. There are economical cycles. According to who? Well you claim you know what you're doing, but I will share some information about according to who participates in trading.

KEY TAKEAWAYS

  1. Macroeconomic statistics, such as inflation, have the greatest impact on forex markets.
  2. Stock, bond, commodity, and other capital markets also have a strong influence on exchange rates.
  3. International trade numbers, such as trade deficits and surpluses, play a vital role in forex markets.
  4. Political news can also be important for forex traders, especially when unexpected outcomes occur.

- Interest rates & inflation, GDP and etc.

Commercial & Investment Banks
Central Banks
Investment Managers and Hedge Funds
Multinational Corporations
Individual Investors(The volume of forex trades made by retail investors is extremely low compared to financial institutions and companies. However, it is growing rapidly in popularity. Retail investors base currency trades on a combination of fundamentals (i.e., interest rate parity, inflation rates, and monetary policy expectations) and technical factors (i.e., support, resistance, technical indicators, price patterns).)


The Bottom Line
There is a reason why forex is the largest market in the world: It empowers everyone from central banks to retail investors to potentially see profits from currency fluctuations related to the global economy. There are various strategies that can be used to trade and hedge currencies, such as the carry trade, which highlights how forex players impact the global economy.
The reasons for forex trading are varied. Speculative trades – executed by banks, financial institutions, hedge funds, and individual investors – are profit-motivated. Central banks move forex markets dramatically through monetary policy, exchange regime setting, and, in rare cases, currency intervention. Corporations trade currency for global business operations and to hedge risk.
Overall, investors can benefit from knowing who trades forex and why they do so.

Even though you should know all of this, since you are a "know it all" in forex, but we all know that you don't. So there it is, print this out, put it on the wall in front of you by your monitor screen, every time you think you know it all, understand that you do not. Read it over and over and over and over and over again, practice on your charts, and you will get it. Economy does not care about your feelings or what country you live in. Follow big players, understand where they are taking the price and go with it.

  • #1,203,198
  • Nov 12, 2021 11:07am Nov 12, 2021 11:07am
Quoting here2there
{quote} The wrong people are in charge! They are pedaling communism. Communism is not American.
America is not communism. You don't know what you're doing, do you?

"Today, the existing communist states in the world are in China, Cuba, Laos, NK and Vietnam."
  • #1,203,199
  • Nov 12, 2021 11:08am Nov 12, 2021 11:08am
Not much for fundies. Purely a technical trader.

System I begun to trade and is working out well on 60 minute but no reason why it can't work on other time frames.

Here is current daily chart. Notations on chart.

Details of system are here: https://www.forexfactory.com/thread/...ptional-system

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  • #1,203,200
  • Nov 12, 2021 11:09am Nov 12, 2021 11:09am
Quoting Techanalyst
{quote} Does not matter where you live. Economy does not work based on your feelings. There are economical cycles. According to who? Well you claim you know what you're doing, but I will share some information about according to who participates in trading. KEY TAKEAWAYS Macroeconomic statistics, such as inflation, have the greatest impact on forex markets. Stock, bond, commodity, and other capital markets also have a strong influence on exchange rates. International trade numbers, such as trade deficits and surpluses, play a vital role in forex...
blah, blah, blah, blaaaaaaah!

It's not what we feel, but how much more we have to spend at the pump, and in grocery stores, and for supplies and services, and in taxes. You are clueless about how life really is here! Stick to what you know concerning your own country. You are not qualified to talk about what is known in my country.
Learn from your mistakes and march on.
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