EURUSD

Quoting kharvell

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Hey guys,

I see a lot of posts here, but not one touches on the fundamental side to the graph we are seeing.

With due respect to all, just because YOUR line is there, and price reacted to it IN YOUR MIND, does not mean anything to anyone else, at least it shouldn't.

This is why we have different opinions: one guy sees a triangle, the other H&S, and of course we have a 50% fib level that we should look for. *yawn*

Why are we having a dead week so far? Look at the news: what is driving price movements? Really there is nothing too Earth shattering. If there was good USA news, there was bad USA news; same with the EURO. Thus, a flat couple of days was born.

What will happen in the future? Keep guessing based on your charts alone, but I prefer to focus on certain news events, and logically think through what could happen.

This may be my last post here, because quite honestly, I can't take all the useless predictions that I have to read here.

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Quoting nwsuccess

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Are you saying you wouldn't short if there was a sell setup and if the market started to drop? The funnymentals aren't what they seem. The market can go up or down on both good and bad news. As traders we need to be careful to not argue with the charts. They are always right.

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Quoting johntsai

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Does market moves by news? Most of people will answer YES, but no one knows price is actually move by the price maker.

Where is price maker comes from? If a company want their stock increase their value up to certain amount of money, market will not move there itself. Company will hire a price maker to make price to that level. No matter by news, by faking techinical analysis, by statistic number... etc.
but the result is price will reach the level they setup.

We call this concept is one big guy calls, rest of small guy follows. Here we have price makers.

Same concept apply to currencies. Price maker will make price in their agreement with other price maker, then they make price together. Pull price to the high level them dump them to the small trader and benefit from them.

Last, the reason why we have fake indicator signal so on is because of them.

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Quoting triq03

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Feasible but not always...thats why I say bad idea

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Quoting kharvell

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This is a conspiracy theory gone wrong.

First of all, we cannot compare stocks and forex. Companies consist of thousands of people while countries have billions. It's a lot harder to influence billions than thousands.

Second, according to you, EUR/USD did not reach 1.6000 because of USA's horrible foreign policies in dealing with the Middle East while the rest of the world experienced economic growth, but rather one individual or individual group named "the price maker" had established that they wanted weak dollars and strong Euro's and acted accordingly.

That is what you call a conspiracy theory. There are many "big guys" in forex. And there are also trillions of dollars floating around in forex. It would be quite hard for an individual or let alone a group to get together and push in enough money in the market to cause it to reach these extreme values. Do these events happen? I'm sure, but would be hard to sustain given the facts.

Don't get me wrong here. I've read a Steve Nison book. I get the message you're saying. It's just that in my eyes, your message is wrong.

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Quoting kharvell

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Hey guys,

I see a lot of posts here, but not one touches on the fundamental side to the graph we are seeing.

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Quoting johntsai

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one thing i want to share.

no see
no hear
no speak

in steve nison's book, its explain how janpanese use those phrases.

no see: dont watch news, because they will not be the first hand information. big trader, cot, even news paper got them more earlier then you. how can you be benifit from the news?

no hear: most of time, chatroom, common, opinoin from other trader will drag your right decision down. keep away from them.

no speak: never never tell how or what you are going to do in the market.

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Quoting kharvell

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IMO, If you see market movement, you should be able to explain it. Just because you see the chart moving down, it means nothing by itself. It could be a multitude of reasons, but your job should be to find the one reason that makes the most sense, and with all the facts in front of you, decide whether or not it is a good trade.

You're right, fundamentals don't always agree with your charts; at first. But think about what you're discounting here: the tell-tale signs of how an economy is doing. You're saying "Oh, they could be wrong, so I'll ignore them and look at my chart".

"The charts are always right." Just as you say fundamentals aren't what they seem, there are false breakouts on the charts, trend changes, spread jumps, etc. Trust me, always know what news is affecting your currency.

Use them together and you will lose less. It's like taking the training wheels off your bike and cruising with understanding.

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Quoting nwsuccess

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One way we can use fundamentals to our advantage is by knowing when they will be released to the public. The news is known well in advance by the ones in control. Many times the setup is already in before the news is released to the public. The public will always be the last to know what has happened and they will be the first trying to “explain the move”. It’s really quite simple. If the market moved up then the reason for that is there were more buyers than sellers. The art of trading is in learning to read a chart correctly so one can identify where the buying took place. We should spend our time learning to read a chart than trying to decipher what the market might do if the latest numbers are positive.

Yes, there are false breakouts and most breakouts fail. It comes back to reading a chart correctly and seeing where the buying/selling is occurring and what conditions have to be present for it to take place. In many cases, the news will be used against you and should not be the focus.

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Allow me to ask you, have you even tried learning about the countries in which you are gathering their currencies and applied it to your trading?

Quoting Jay Walker

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Will go long again if it hits 1.5538.

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