within 1hr it will try break new lows my friend..
New Forex Trader
- #10,203
- Jul 26, 2007 4:56am Jul 26, 2007 4:56am
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
anyone who wants to participate on next News trade signal please visit this thread by 8.15 EST (12.15 GMT) 
I'm not buying another pc! - #10,206
- Jul 26, 2007 4:58am Jul 26, 2007 4:58am
hi Pluto,
so i guess this is a coincidence then?
so i guess this is a coincidence then?
Hello!
Just wanted to point out that the price "bouncing" has nothing to do with all the fancy MAs we want to draw. The market does not see your moving average, any more than it is convinced by a 100WMA or a 21 EMA or a 5 SMA or a 250 median based average. There are so many big traders using different things that very few of these MA types and periods coincide, and there is no one point of reference that everybody uses concerning these averages. Nobody sees our pretty lines, which is why they will coincide with support/resistance sometimes, then get annihilated at others as if they don't exist.
What is happening is simple support given a range. GJ is also a derivative pair for the most part, so you are watching the UJ and GU interact right now as well.
Most experienced traders would tell you this, it is common information once you've traded for a few years and watched these things fail time and time again.
Good luck!
-A
- #10,207
- Jul 26, 2007 4:59am Jul 26, 2007 4:59am
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
I just entered GJ at 246.73...
Aussie how many pips are you targeting and how long are you going to hold on it? Looking up to your advice.
- #10,209
- Jul 26, 2007 5:00am Jul 26, 2007 5:00am
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
- #10,211
- Jul 26, 2007 5:03am Jul 26, 2007 5:03am
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
- #10,213
- Jul 26, 2007 5:03am Jul 26, 2007 5:03am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Nobody sees our pretty lines, which is why they will coincide with support/resistance sometimes, then get annihilated at others as if they don't exist. -A
Gone to a better place
- #10,215
- Jul 26, 2007 5:05am Jul 26, 2007 5:05am
- Joined Mar 2007 | Status: we are stardust, we are golden | 1,364 Posts
Just trying to help from what I've learned the hard way
Cheers,
-A
Virtue finds and chooses the mean.
Aristotle, Ethica Nichomachea
- #10,216
- Jul 26, 2007 5:06am Jul 26, 2007 5:06am
- | Joined Sep 2006 | Status: Trader | 1,311 Posts
anyone who wants to participate on next News trade signal please visit this thread by 8.15 EST (12.15 GMT)
I shorted gbp/usd today based on fundamentals.. but I never have the bloody patience to stay in a trade. As soon as my trade goes the opposite way by even a few pips I start panicking.. lol.
- #10,218
- Jul 26, 2007 5:08am Jul 26, 2007 5:08am
- Joined Mar 2007 | Status: we are stardust, we are golden | 1,364 Posts
[quote=smikester;1509032]
A moving average is a moving average. It is a simple calculation of the mean/median/other average figure over a period of the last X bars. People use a plethora of averages to gauge the direction of the market, but in the end of the day they are all just a few numbers you calculate on your computer, and they have no "understanding" of the market whatsoever.
Nobody sees our pretty lines, which is why they will coincide with support/resistance sometimes, then get annihilated at others as if they don't exist. ]
Ouch! Makes me wonder what a moving average really is, then.
Virtue finds and chooses the mean.
Aristotle, Ethica Nichomachea
- #10,219
- Jul 26, 2007 5:11am Jul 26, 2007 5:11am
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
Great, thanks - awesome stuff
great,,, what entry did you get?
- #10,220
- Jul 26, 2007 5:13am Jul 26, 2007 5:13am
anyone who wants to participate on next News trade signal please visit this thread by 8.15 EST (12.15 GMT)
Petty we can't all have the same time zone
Mike