Can someone explain or give a link to info about this how options affect the forex market?
- #1,562
- Feb 17, 2008 1:27pm Feb 17, 2008 1:27pm
- | Joined Dec 2007 | Status: Wish I had more capital !! ;-) | 1,050 Posts
- #1,564
- Feb 17, 2008 3:31pm Feb 17, 2008 3:31pm
- | Joined Dec 2007 | Status: Wish I had more capital !! ;-) | 1,050 Posts
- #1,569
- Edited 11:41pm Feb 17, 2008 11:30pm | Edited 11:41pm
I longed from 211.30 based on H1/M30 Twin brother. So far so good. Once it does hit my TP of 60, I'll watch for price action as well to see if we'll go further up or start falling down, but I'll be ready for a short if it does indeed confirms for a down fall, if it keeps moving up, I'll see if I can get a buy re-entree confirmation to enter another long. 
By the way, usually I don't enter this early on with Asian session, but I'm just demo trading, so just wanted to test it out, I don't see any harm anyways testing it. ^^ On my chart, the H1 just retrance after touching the 50% fibo, let's see if it'll go back up and break it for a further bull run, or keep going down to the 38.2 line. Yes, it's very nice to see more and more traders joining this thread now, sharing with us many different ways to trade the QQEs.
By the way, usually I don't enter this early on with Asian session, but I'm just demo trading, so just wanted to test it out, I don't see any harm anyways testing it. ^^ On my chart, the H1 just retrance after touching the 50% fibo, let's see if it'll go back up and break it for a further bull run, or keep going down to the 38.2 line. Yes, it's very nice to see more and more traders joining this thread now, sharing with us many different ways to trade the QQEs. - #1,570
- Edited Feb 18, 2008 12:30am Feb 17, 2008 11:32pm | Edited Feb 18, 2008 12:30am
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
Nice analysis, Sith.
M15 and M30 QQE’s are bullish, and price has been closing above their Ganns for several hours. I see a nice little upward trend developing on the M15 chart.
The 1H QQE5 is confirmed bullish, and price is closing above that Gann.
The 4H QQE5 is still bearish, but that could change today.
Price is established above the daily pivot.
There was better than expected GBP news earlier today. G/J price (one half of G/J) has been slowly trending upward since then. The Nikkei stock index was up 174 points earlier, but is now only up 50. U/J price (the other half of G/J) is closely following its ups and downs, just like it follows the Dow during NY session. This influences G/J price, but it doesn’t cause true “mirroring” because G/U also has a say in the matter.
Lots of resistance areas above, including the 4hr Gann. Price usually “bounces” back after hitting the 4hr Gann for the first time. Plus the 4hr 200ema is always a tough nut to crack. If a ceiling is evident, price might head south for a sizeable retrace, or just start ranging.
I’ll be keeping conservative targets today; staying nimble and not getting locked into long term trades. Scalping to some of the nearby resistance areas seems like a good idea, maybe using the Twin Brother strategy. The NYSE and most banks will be closed during New York session, plus there's no news, so price will probably just range after London.
M15 and M30 QQE’s are bullish, and price has been closing above their Ganns for several hours. I see a nice little upward trend developing on the M15 chart.
The 1H QQE5 is confirmed bullish, and price is closing above that Gann.
The 4H QQE5 is still bearish, but that could change today.
Price is established above the daily pivot.
There was better than expected GBP news earlier today. G/J price (one half of G/J) has been slowly trending upward since then. The Nikkei stock index was up 174 points earlier, but is now only up 50. U/J price (the other half of G/J) is closely following its ups and downs, just like it follows the Dow during NY session. This influences G/J price, but it doesn’t cause true “mirroring” because G/U also has a say in the matter.
Lots of resistance areas above, including the 4hr Gann. Price usually “bounces” back after hitting the 4hr Gann for the first time. Plus the 4hr 200ema is always a tough nut to crack. If a ceiling is evident, price might head south for a sizeable retrace, or just start ranging.
I’ll be keeping conservative targets today; staying nimble and not getting locked into long term trades. Scalping to some of the nearby resistance areas seems like a good idea, maybe using the Twin Brother strategy. The NYSE and most banks will be closed during New York session, plus there's no news, so price will probably just range after London.
- #1,571
- Feb 17, 2008 11:34pm Feb 17, 2008 11:34pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
I long from 211.30 based on H1/M30 Twin brother. So far so good. Once it does hit my TP of 60, I'll watch for price action as well to see if we'll go further up or start falling down, but I'll be ready for a short if it does indeed confirms for a down fall, if it keeps moving up, I'll see if I can get a buy re-entree confirmation to enter another long.
- #1,574
- Feb 18, 2008 12:02am Feb 18, 2008 12:02am
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
- #1,576
- Feb 18, 2008 12:05am Feb 18, 2008 12:05am
What are your readings? I'm concerned mine are off today . . .
But yea... My Asian session daily pivot is @211.06, rest of it, I know for sure it's off because it's all close to each other, so don't need to mention those numbers... ^^" Perhaps for Mondays, I should not trade the Asian, and see if London and NY will still be correct, if so, then only trade those sessions and not Asian.