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  • #11,521
  • Jun 20, 2008 7:40pm Jun 20, 2008 7:40pm
Going back to 5800 for a smooch
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  • #11,522
  • Jun 20, 2008 8:14pm Jun 20, 2008 8:14pm
I trade based on Fundamental not Technical. I use technical only to see whether it is overbought or oversold position. Nothing else.
Beginning of this week every one was screaming about chart and how they think euro will drop to 1.50. Now where are they?
New news came in the market about oil and Iran then pooff.
All technicians started to cover there short position. Now they all are going back to the chart and commenting on euro going back to 1.58. LOL
This weekend all oil producing countries are meeting in Jeddah. If they come up with any solution then on Monday oil will start to fall and again all these technician will start to cover there long position because dollar will get the ground when commodities fall.
Ask yourself what is most important for currency News or TA????
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  • #11,523
  • Jun 20, 2008 9:15pm Jun 20, 2008 9:15pm
Quoting atif
Ask yourself what is most important for currency News or TA????
Both dammit!
Not all sins are created equal
  • #11,524
  • Jun 21, 2008 12:46am Jun 21, 2008 12:46am
Quoting atif
I trade based on Fundamental not Technical. I use technical only to see whether it is overbought or oversold position. Nothing else.
Beginning of this week every one was screaming about chart and how they think euro will drop to 1.50. Now where are they?
New news came in the market about oil and Iran then pooff.
All technicians started to cover there short position. Now they all are going back to the chart and commenting on euro going back to 1.58. LOL
This weekend all oil producing countries are meeting in Jeddah. If they come up with any solution then on Monday oil will start to fall and again all these technician will start to cover there long position because dollar will get the ground when commodities fall.
Ask yourself what is most important for currency News or TA????
Thanks for bringing this up!

I don't know about you but what I think is most important for any trading is generating consistent profit, minimizing risk exposure and maximizing returns.

It is not WHAT you use it is HOW you use it.

I use mostly TA however I keep an eye on fundies.

My point is - even if you are good with fundamental analysis, you should not dismiss digging deeper into TA.

Otherwise you are totally messing up the two important parts - risk exposure and maximizing returns.

I'll illustrate... let's say you KNOW EUR/USD will go to 1.62. You absolutely want to ride it up to that. Well how much room would you leave for a stop loss? Where would you enter? I can see how you can use Daily and/or Hourly Stochastics and find good oversold areas to get in... But my guess is you still need to be prepared for the price to go against you at least 100 pips.

With that much exposure you can't really get in with that big of a position or you'll get killed.

I however enter with virtually insane stop amounts - about 20 pips. I move to Break Even as soon as I am in profit 20 pips. I rarely lose a trade, yes I do get stopped at BE a lot, but I also pick up some insane profits. And the best part my exposure was minuscule.

I have respect for all of the approaches people have. I just think that those that keep an open mind and constantly improve their strategies are the ones that will make some really nice returns. (Of course you have to stay consistent with what currently works best until you have proven that you found something better)

Have a great weekend!

Back Monday...
  • #11,525
  • Jun 21, 2008 1:35am Jun 21, 2008 1:35am
Quoting atif
I trade based on Fundamental not Technical. I use technical only to see whether it is overbought or oversold position. Nothing else.
Beginning of this week every one was screaming about chart and how they think euro will drop to 1.50. Now where are they?
New news came in the market about oil and Iran then pooff.
All technicians started to cover there short position. Now they all are going back to the chart and commenting on euro going back to 1.58. LOL
This weekend all oil producing countries are meeting in Jeddah. If they come up with any solution then on Monday oil will start to fall and again all these technician will start to cover there long position because dollar will get the ground when commodities fall.
Ask yourself what is most important for currency News or TA????
from my studies, FA will follow TA, FA just make the candle size longer,
but the movement still follows TA.
newbies yang minat nak belajar forex, sila ym saya, ym: ammal007
  • #11,526
  • Jun 22, 2008 12:44am Jun 22, 2008 12:44am
Quoting atif
I trade based on Fundamental not Technical. I use technical only to see whether it is overbought or oversold position. Nothing else.
Beginning of this week every one was screaming about chart and how they think euro will drop to 1.50. Now where are they?
New news came in the market about oil and Iran then pooff.
All technicians started to cover there short position. Now they all are going back to the chart and commenting on euro going back to 1.58. LOL
This weekend all oil producing countries are meeting in Jeddah. If they come up with any solution then on Monday oil will start to fall and again all these technician will start to cover there long position because dollar will get the ground when commodities fall.
Ask yourself what is most important for currency News or TA????
I want to share something about fundamental trading style.

what is fundamental news?

fundamental news is the information that spread out by any media to the public after the event happen.

this mean if you can not get in front of the media to get the news, the most of time the fundamental news is not going to help you to take advantage. because we all share the same sources.

if you want to make money by using fundamental, we got to learn from most crazy person in our us trading history.

i dont have the name of them right now, but here is what i learn from them about how they use fundamental news to earn the money.

on perseon is napoleon's friend. when napoleon won the war, he tell his friend right the way before the news comes out next day. because of this, his friend bought a lot of stock before the news release and get rich beause of it.

the other person notice a big good news is realeased at the us holiday, but he do not stay there to wait the market open, he went to the london and buy us stock thought it. after the holiday, us market shoot up crazy andthis guy get rich because of this.

last, i apologize for the names. i am really bad about this part. if i get chance, i will post their name here for you guys who interested to investigate more about them.

good luck for all traders. ^^
  • #11,527
  • Jun 22, 2008 12:52am Jun 22, 2008 12:52am
After a strong Bulf candle formed with the bullish stoch..EUR/USD is poised to rise in the coming weeks...

It might test its resistance lvl @1.57xx region again...

http://i25.tinypic.com/351ffo5.jpg

sonic
  • #11,528
  • Jun 22, 2008 12:59am Jun 22, 2008 12:59am
Quoting sonicdeejay
After a strong Bulf candle formed with the bullish stoch..EUR/USD is poised to rise in the coming weeks...

It might test its resistance lvl @1.57xx region again...

http://i25.tinypic.com/351ffo5.jpg

sonic
Exactly what I have been following Still in my long from 1.5510 on Thursday.

Nice chart by the way
Not all sins are created equal
  • #11,529
  • Jun 22, 2008 1:11am Jun 22, 2008 1:11am
Quoting Jay Walker
Exactly what I have been following Still in my long from 1.5510 on Thursday.

Nice chart by the way

thx for the comment!

sonic
  • #11,530
  • Jun 22, 2008 1:38am Jun 22, 2008 1:38am
Quoting sonicdeejay
After a strong Bulf candle formed with the bullish stoch..EUR/USD is poised to rise in the coming weeks...

It might test its resistance lvl @1.57xx region again...

http://i25.tinypic.com/351ffo5.jpg

sonic
possible consideraion. i havnt see the end of trend signal showing. it might keep going up to the previous high.

for buy point, keep eye on 15600 level.

possible target is 15750.
  • #11,531
  • Jun 22, 2008 7:46am Jun 22, 2008 7:46am
Quoting johntsai
i havnt see the end of trend signal showing.
care to enlighten me...which end of trend sigbal..u r referring to??


sonic
  • #11,532
  • Jun 22, 2008 11:08am Jun 22, 2008 11:08am
Possible move for week 06/22/08

EUR/USD

1.5800 Target high
1.5450 Target low

166 for the week



166 pip potential profit in place for this week
  • #11,533
  • Jun 22, 2008 2:30pm Jun 22, 2008 2:30pm
Quoting atif
I trade based on Fundamental not Technical. I use technical only to see whether it is overbought or oversold position. Nothing else.
Beginning of this week every one was screaming about chart and how they think euro will drop to 1.50. Now where are they?
New news came in the market about oil and Iran then pooff.
All technicians started to cover there short position. Now they all are going back to the chart and commenting on euro going back to 1.58. LOL
This weekend all oil producing countries are meeting in Jeddah. If they come up with any solution then on Monday oil will start to fall and again all these technician will start to cover there long position because dollar will get the ground when commodities fall.
Ask yourself what is most important for currency News or TA????
both. I use 70%-80% TA / 30%-20% Fundies

whatever works....just do it...
  • #11,534
  • Jun 22, 2008 2:33pm Jun 22, 2008 2:33pm
Quoting akirax
whatever works....just do it...
Sounds good to me.

  • #11,535
  • Jun 22, 2008 5:27pm Jun 22, 2008 5:27pm
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  • #11,536
  • Jun 22, 2008 5:37pm Jun 22, 2008 5:37pm
Quoting johntsai
possible consideraion. i havnt see the end of trend signal showing. it might keep going up to the previous high.

for buy point, keep eye on 15600 level.

possible target is 15750.

Did you considered IFO news coming up tonite? TA is not gonna help you if actual comes lower then the consensus.

Watch guys for the sharp decline....
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  • #11,537
  • Jun 22, 2008 5:43pm Jun 22, 2008 5:43pm
Possible drop to 5540, more likely 5700 first.
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  • #11,538
  • Jun 22, 2008 7:26pm Jun 22, 2008 7:26pm
Quoting Clouds
Possible drop to 5540, more likely 5700 first.
Attachment

  • #11,539
  • Jun 22, 2008 7:49pm Jun 22, 2008 7:49pm
Maybe 5540 first, then back up to 57 +

Looking to re-enter long at 5540 support if it holds
Attached Image (click to enlarge)
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  • #11,540
  • Jun 22, 2008 8:10pm Jun 22, 2008 8:10pm
Quoting NuckingFuts
Maybe 5540 first, then back up to 57 +

Looking to re-enter long at 5540 support if it holds
For now, support at 5590-5600
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