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Help needed in OANDA + users from Malaysia 105 replies

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  • #14,781
  • Jun 25, 2008 8:49am Jun 25, 2008 8:49am
Gold at CRITICAL support line now!!! 50% Median and also the TRIANGLE support.

Break that... another FREE FALL.

Fail to Break.... Up we go towards the TRIANGLE Resistance.
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  • #14,782
  • Jun 25, 2008 8:52am Jun 25, 2008 8:52am
Anyone here still long on Fiber ?
  • #14,783
  • Jun 25, 2008 8:54am Jun 25, 2008 8:54am
Any chance for the OIL to drop around the FLAG support? That is around $130-$132 per barrel.

If OIL break that FLAG resistance... $150 per barrel is very likely to be seen. And eventually might lead to $200 per barrel.

I wonder what will happen IF Oil price break that FLAG SUPPORT? $100 per barrel???

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  • #14,784
  • Jun 25, 2008 9:09am Jun 25, 2008 9:09am
Quoting Malaysia
10:00pm USD http://www.forexfactory.com/images/m...mpact_high.gif New Home Sales

Market so sensitive with NEWS today... now pricing in for this.
10:00pm USD http://www.forexfactory.com/images/m...mpact_high.gif New Home Sales 512K 515K 525K

See how the market reacting today. As what I've discuss about FUNDAMENTAL analysis trading.

Cable did shoot up prior to the news... nearly hitting my SHORT SL.

When the news coming out... even it's RED... market already PRICED IN... and changing its direction now.

My SHORT becoming GREEN again
  • #14,785
  • Jun 25, 2008 9:12am Jun 25, 2008 9:12am
hmm poor US New Home sales, but cable didnt go up. Another leak out news?
  • #14,786
  • Jun 25, 2008 9:15am Jun 25, 2008 9:15am
Now almost everything out on the field... all important ones came out already.

Left with one main event for the day. The FOMC STATEMENT.

Market might be pricing in for this now... OR... RANGING until it's out on the field.
  • #14,787
  • Jun 25, 2008 9:16am Jun 25, 2008 9:16am
Quoting Malaysia
10:00pm USD http://www.forexfactory.com/images/m...mpact_high.gif New Home Sales 512K 515K 525K

See how the market reacting today. As what I've discuss about FUNDAMENTAL analysis trading.

Cable did shoot up prior to the news... nearly hitting my SHORT SL.

When the news coming out... even it's RED... market already PRICED IN... and changing its direction now.

My SHORT becoming GREEN again

thxs for the guidance sham
  • #14,788
  • Jun 25, 2008 9:35am Jun 25, 2008 9:35am
Quoting b1ackmambo
thxs for the guidance sham
Another reason why CABLE and FIBER can't really shoot up is the OIL and GOLD price FALLING DOWN. That should strengthen the Greenback.

I wonder if this heavy fall of OIL and GOLD is the act of PRICING IN for the FOMC STATEMENT

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  • #14,789
  • Jun 25, 2008 9:47am Jun 25, 2008 9:47am
Quoting Malaysia
Another reason why CABLE and FIBER can't really shoot up is the OIL and GOLD price FALLING DOWN. That should strengthen the Greenback.

I wonder if this heavy fall of OIL and GOLD is the act of PRICING IN for the FOMC STATEMENT


wow, no wonder cable not going up. I only focus on GU counter,now only i notice how's important is the OIL n GOLD counter..haha, learn alot from u today. Thxs again
  • #14,790
  • Jun 25, 2008 9:53am Jun 25, 2008 9:53am
Quoting Malaysia
Is that possible BEARISH DIVERGENCE on Fiber?

Hurmmm.... Uncle Trichet giving speech soon. That might disrupt market a bit.

The BEARISH DIVERGENCE effect might take place now. This is where TECHNICAL confirming FUNDAMENTAL... not the other way round. FUNDAMENTAL driving the market now.

Uncle Trichet did disrupt the market just now.

Pricing In in action for FOMC now? I just took action base on Price Action (PA).

T.A.Y.O.R.
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  • #14,791
  • Jun 25, 2008 10:06am Jun 25, 2008 10:06am
Quoting b1ackmambo
wow, no wonder cable not going up. I only focus on GU counter,now only i notice how's important is the OIL n GOLD counter..haha, learn alot from u today. Thxs again
Careful there. KISS >>> Keep it short and simple is the best way... if that can be profiting.

Don't follow me. It's just my behaviour and style. Cluttering my brain with so many INFORMATION... just look at my chart... so many things in there... for my study. I like it that way... make me a THINKER. Not Follower.

I don't trust INDIs... and I always must find the reason why the market is moving like so and so... and that mainly come from FUNDAMENTAL. Sometimes can be technical though. Market can move purely on technical guidance... that is when Market is INDESISVE... CONFUSE... and no important News around.
Market mainly driven by the FUNDAMENTAL... and Technical skill is applied to Enter and Exit the market efficiently.

This is my TRADING STYLE. If it's contradicting or against other traders style... so be it. I am HAPPY with mine

  • #14,792
  • Jun 25, 2008 10:27am Jun 25, 2008 10:27am
Cable need to break that YELLOW support line to FREE FALL further down south... if fail... UP again.

I catch the early FALL... then I catch the SHOOTING UP... then I catch the final FREE FALL PERFECT DAY FOR ME... and I am still dancing

Nothing for sure yet... FOMC news still to come. It can either creating BIG WHIPSAW by shooting UP... or ... boosting the current movement of pricing in. Be prepared.

p/s: As right now... my SHORT on EU at the top also looks great as well!!! It testing the DAILY PIVOT now. Break that... more south movement. Not break... Up again.

TRADE AT YOUR OWN RISK.
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  • #14,793
  • Jun 25, 2008 10:36am Jun 25, 2008 10:36am
ur stoch not showing bearish div. its follow the price level, no divergence there.
  • #14,794
  • Jun 25, 2008 10:40am Jun 25, 2008 10:40am
Quoting arinforex
ur stoch not showing bearish div. its follow the price level, no divergence there.
Oh... OK. Still learning this new skill... trial and error. Anyway... my SHORT looks good already mainly because of the FUNDAMENTAL side

Anyone good at DIVERGENCE signal... please share your skill with us.
  • #14,795
  • Jun 25, 2008 10:43am Jun 25, 2008 10:43am
Quoting Malaysia
Cable need to break that YELLOW support line to FREE FALL further down south... if fail... UP again.

I catch the early FALL... then I catch the SHOOTING UP... then I catch the final FREE FALL PERFECT DAY FOR ME... and I am still dancing

Nothing for sure yet... FOMC news still to come. It can either creating BIG WHIPSAW by shooting UP... or ... boosting the current movement of pricing in. Be prepared.

p/s: As right now... my SHORT on EU at the top also looks great as well!!! It testing the DAILY PIVOT now. Break that... more south movement. Not break... Up again.

TRADE AT YOUR OWN RISK.
Just broke that yellow line... another FREE FALL Let the profit runs baybeh

Fiber still struggling with the DAILY PIVOT.
  • #14,796
  • Jun 25, 2008 10:49am Jun 25, 2008 10:49am
cant trade..margin % only left 187%.. have to save for my -ve EJ ..
  • #14,797
  • Jun 25, 2008 10:50am Jun 25, 2008 10:50am
Quoting from books:

One of the most common methods of trading the RSI is by uncovering divergence patterns. If price is continually making new highs but the RSI does not, then a trend reversal or trend consolidation is highly likely.

DIVERGENCE
Dr. Lane contended that one of the most useful ways to utilize stochastics is by spotting divergence between the price action and the indicators readings. Specifically, he found the setup where the %D line would make lower highs while the price made higher highs a very useful short setup, and on the opposite side when the dynamic reversed itself with %D making higher lows while the price continued to make lower lows, this setup represented a potent long trade. He found that these types of trades were most reliable when divergence occurred as %D was between 10 and 15 on the downside and 85 and 90 on the upside.


Another signal is trading pattern called bearish divergence, which is used in identifying market tops. The market price itself makes a higher high than a previous high, but the underlying stochastic pattern makes a lower high, indicating that the second high is weak high and can result in a lower price reversal.


These patterns are similar to those of the MACD indicator. Stochastics can be programmed for trading on a one-minute, daily or monthly basis. Short-term professional day traders and long-term traders can do use this indicator. Stochastics do well in volatile or choppy market conditions, unlike moving average studies, which do not. However, in trending market conditions, stochastics may generate false buy or sell signals.


Conclusion

Oscillators are the primary tools of technical analysis because most technical analysis is centered on the concept of divergence between momentum and price.
  • #14,798
  • Jun 25, 2008 10:57am Jun 25, 2008 10:57am
Quoting eneloop
Quoting from books:
Cheers mate!!!
  • #14,799
  • Jun 25, 2008 11:02am Jun 25, 2008 11:02am
eur/jpy is very high now.. is it wise to sell e/j now??
  • #14,800
  • Jun 25, 2008 11:07am Jun 25, 2008 11:07am
yen keep weakening and want to become toilet tissue.. wtf
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