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  • #8,341
  • May 5, 2008 5:28am May 5, 2008 5:28am
Thanks. Hope it works out for you.
  • #8,342
  • May 5, 2008 5:30am May 5, 2008 5:30am
Quoting BoredToLoose
I usually open a tiny trade some minutes before news, and not every time.
At this time I have already two short trades opened at 1.5447 and 1.5470.
I am waiting to see price around 1.5430 to close one.
My RSI TF15 at 44.5 was not crossed some minutes ago, let's see if price go back to 1.5450 again next 60 minutes, if crossed then 1.5410/1.5416 is next stop.
If not crossed until next 60 Minutes I will close my shorts.
There is the possibility will see 1.55 again today.
It looks like it did go back to 1.5450/60 and actually has stayed there for a while now. So you say that means it will go down to 1.5410/16 in the next stop? Why is that? Why is it that if it doesn't go back up to 1.5450/60, it would actually go higher to possibly 1.55?

Thanks.
Expected the unexpected
  • #8,343
  • May 5, 2008 5:41am May 5, 2008 5:41am
Fiber is behaving very strange today. Now I am totally confused as to which direction it is trying to go. Is it going up or down for the day? Anybody have any explanation why it's seesawing and can interpret from the chart which way it's going to be headed?
Expected the unexpected
  • #8,344
  • May 5, 2008 5:48am May 5, 2008 5:48am
Quoting scyang
Fiber is behaving very strange today. Now I am totally confused as to which direction it is trying to go. Is it going up or down for the day? Anybody have any explanation why it's seesawing and can interpret from the chart which way it's going to be headed?
Trichet on the wires in 40 min.

Webcast on www.ecb.int
  • #8,345
  • May 5, 2008 5:53am May 5, 2008 5:53am
Quoting cesarnc
Trichet on the wires in 40 min.

Webcast on www.ecb.int
Ahh, that might be why euro is getting a lift. He has been hawkish and probably will be so again this time.
Expected the unexpected
  • #8,346
  • May 5, 2008 6:12am May 5, 2008 6:12am
I think one of the hardest trades that comes to mind in some time is being short the Euro freight train. Even when I am making money it is hard to sleep.

The Euro is getting a lift because nobody either (consciously or subconsciously) wants to believe that the Euro can give their accounts two consecutive weeks of declines. The ISM number will surprise on the upside.
  • #8,347
  • May 5, 2008 6:17am May 5, 2008 6:17am
Quoting DownRiverTrader
Do you guys establish positions based on News? or your interpretation of it?
DownRiverTrader,

I remember your threads a while back. I really enjoyed them. I'm curious as to the answer of your own questions here in terms of how you trade the news.

Good to see you back,

Kevin
  • #8,348
  • May 5, 2008 6:25am May 5, 2008 6:25am
USD Index

http://www.morrisfunds.com/storage/f...s/USDIndex.PNG



The Long Bonds - Yields Heading Up

http://www.morrisfunds.com/storage/f...da%20bonds.PNG
  • #8,349
  • May 5, 2008 6:27am May 5, 2008 6:27am
Does anybody know what Trichet said? Is he being hawkish again and that's why euro is going up?
Expected the unexpected
  • #8,350
  • May 5, 2008 6:30am May 5, 2008 6:30am
US Stocks reach new heights as economists are baffled.

http://www.morrisfunds.com/storage/forum-posts/SP.PNG
  • #8,351
  • May 5, 2008 6:43am May 5, 2008 6:43am
Quoting scyang
Does anybody know what Trichet said? Is he being hawkish again and that's why euro is going up?
Didn't start yet. I don't know whether I made a mistake on time zones. Conference is set to 2:30 pm Central Europe. I understand it's 1:30pm UTC, which should be 15 min ago.

Where did I go wrong? If I did...
  • #8,352
  • May 5, 2008 6:50am May 5, 2008 6:50am
Given the ECB's mandate, Trichet is always hawkish. No need to listen. Lots of inflation worldwide.

In trading EUR/USD, best to worry about USD double mandate and how the equation may balance.


EURO HEADING DOWN HARD TODAY. GO SHORT
  • #8,353
  • May 5, 2008 6:51am May 5, 2008 6:51am
Quoting cesarnc
Didn't start yet. I don't know whether I made a mistake on time zones. Conference is set to 2:30 pm Central Europe. I understand it's 1:30pm UTC, which should be 15 min ago.

Where did I go wrong? If I did...
  • #8,354
  • May 5, 2008 6:54am May 5, 2008 6:54am
Quoting BoredToLoose
You're right... I was confused with FF calendar calling for a speech today, which seems to have happened already.

Never mind, 3 days to go.

Sorry, my bad
  • #8,355
  • May 5, 2008 7:02am May 5, 2008 7:02am
Quoting kharvell
We have some telling news coming up this week from USA.

As for tomorrow:

"Monday May 5, 9:00am CST
USD http://forexfactory.com/images/misc/...mpact_high.gif ISM Non-Manufacturing Composite
Forecast 49.1
Last Month 49.6
Description: The Institute of Supply Management (ISM) Non-Manufacturing Composite measures activity level, new orders, empoyement and supplier deliveries of purchasing managers in the services sector, with a reading above 50 indicating expansion. A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance."

This will probably be good news for USA I'm thinking. The forecast is for worse than last month, but people in USA have increased their spending if anything. From what I see everyday in my town (Plano, TX (VERY middle class), I know that the recession will be fought. People are buying tons of stuff. I really don't know how people can afford it, but they are buying it anyway. I'm pretty sure USA numbers in terms of suppliers, employment, deliveries, and inventories will be better than expected from what I've seen around town. People are getting ready for summer, it's especially warming up here in TX.
ISM #'s good. Should develop into a short trend soon. Good call DownRiverTrader.
  • #8,356
  • May 5, 2008 7:08am May 5, 2008 7:08am
Quoting DownRiverTrader
Given the ECB's mandate, Trichet is always hawkish. No need to listen. Lots of inflation worldwide.

In trading EUR/USD, best to worry about USD double mandate and how the equation may balance.


EURO HEADING DOWN HARD TODAY. GO SHORT
Very wise. How did you know ahead of the news?
Expected the unexpected
  • #8,357
  • May 5, 2008 7:11am May 5, 2008 7:11am
  • #8,358
  • May 5, 2008 7:12am May 5, 2008 7:12am
Quoting scyang
Very wise. How did you know ahead of the news?
awesome man, thanks for the heads up
  • #8,359
  • May 5, 2008 7:15am May 5, 2008 7:15am
For some reason, euro is just hanging tough even after very positive news out of the US. Does it mean to return to the bullish trend as it has been doing all day?
Expected the unexpected
  • #8,360
  • May 5, 2008 7:16am May 5, 2008 7:16am
Will we go back to range..? It's look like no more pips for today...
:/
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