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  • #101,901
  • Jul 17, 2008 6:56pm Jul 17, 2008 6:56pm
Quoting OrionsWay
Demand for one asset over another THATS IT
I thought it was the average rates of the large inter banks.
  • #101,902
  • Jul 17, 2008 7:00pm Jul 17, 2008 7:00pm
Look guys what i found on fxtreet.. i think whoever made pips in last couple of days should say thanks to Bush....We should keep eye on US congress's decision also....We might see some fire action, if it gets approved by the congress....anyway ...thought, i will share with you guys....




On Monday July 14, US President George Bush announced that he would lift the Executive Prohibition banning offshore oil drilling as soon as Congress agrees. Crude Oil has been in a tailspin ever since! Two days after Bush pulled out this tourniquet for the United States hemorrhaging economy, Finally - something real is being "talked" about that might reverse the madness driving oil to perverse price levels. But the US Congress needs to act fast, before the summer break.
  • #101,903
  • Jul 17, 2008 7:06pm Jul 17, 2008 7:06pm
Quoting Clouds
Yes, I live in the US, but this forum is about currency trading,, and not everyone wants to hear about 'how bad' the US economy is, (which it isn't that bad). I don't care if it affects currencies or not, I rather just trade, and not care think about the economy. We could talk about crime too, if you like.
Follow your own advice !!!!!

Irrelevant to thread http://www.forexfactory.com/showpost...ostcount=15042

I am not going to waste anymore of my time looking for others. With over 3,000 posts in 3 months I have to wonder how many more there are.

With your keen insight and experience maybe you should start your own thread.

With that many posts you really need too......
  • #101,904
  • Jul 17, 2008 7:09pm Jul 17, 2008 7:09pm
I didn't mean to offend the fundamental gang. You are saying Ej fell not because it was a triple top, but because of stock market? I was under the impression that currency trading is higher than the stock market. I thought forex controls the stock market... and the banks around the round control forex.
  • #101,905
  • Jul 17, 2008 7:10pm Jul 17, 2008 7:10pm
asian sessions suck, they should cancel them. lol


clouds, why are u being a pain?
  • #101,906
  • Jul 17, 2008 7:12pm Jul 17, 2008 7:12pm
Quoting deeptrouble
Look guys what i found on fxtreet.. i think whoever made pips in last couple of days should say thanks to Bush....We should keep eye on US congress's decision also....We might see some fire action, if it gets approved by the congress....anyway ...thought, i will share with you guys....




On Monday July 14, US President George Bush announced that he would lift the Executive Prohibition banning offshore oil drilling as soon as Congress agrees. Crude Oil has been in a tailspin ever since! Two days after Bush pulled out this tourniquet for the United States hemorrhaging economy, Finally - something real is being "talked" about that might reverse the madness driving oil to perverse price levels. But the US Congress needs to act fast, before the summer break.

Oh .... I guess they can remove the Congressional ban , set up drill rigs and start producing oil all in one week , It is going to take years before you see the first drill producing oil due to the lifitng of the ban.

OPEC have already said way back that oil supply was NOT an issue and oil should be $70 per barrel.

The hedge funds are the ones that have been pushing up oil .... do you think at 147 they we are going long the market ? and now do you think they are going short the market .. of course they were ... manipulation at its best.

The real thing that Bush should do is cap the price that futures traders can buy oil at ... but why wpuld he do that ... doesn't he own a shit load of stakes in the oil industry. OH hold on there is an election this year .... oil and war are what makes Bush richer than rich . Why would he want oil prices to drop so close to the end of his term in office ?

Also of note is that I think today is the day that the oil future options expired. Tomorrow is stock option expiry day and will cause some volatility in the markets.
Blogging daily now at www.volume.zone
  • #101,907
  • Jul 17, 2008 7:13pm Jul 17, 2008 7:13pm
Quoting Clouds
I didn't mean to offend the fundamental gang. You are saying Ej fell not because it was a triple top, but because of stock market? I was under the impression that currency trading is higher than the stock market. I thought forex controls the stock market... and the banks around the round control forex.

clouds, although i'ma technical trader, and i hate the shit out of fundies, i think forex is a tool for market makers, countries, banks, and other "powerful" institutions/individuals.

there are lots of things that control each and every market. and like malcomb said, they are all interconnected. u can't distinguishone from the other.
  • #101,908
  • Jul 17, 2008 7:14pm Jul 17, 2008 7:14pm
Quoting Clouds
I thought it was the average rates of the large inter banks.

well yea but its the Bids and Offers or supply and demand

You will not go far in forex promise if you think that its just about a chart. Every action globally affects asset allocations of funds to the tune of 1.7 trillion daily across all the currencies. You can be nieve if you like its your money. JUST and info not a reco. really dont care if you make it or not.

Obviously though you are looking for help, insight , confirmation what have you. open your ears and eyes to what a market is really about.
Its not the wheat market where drought heat waves cold snaps transportation affect the prices. its about everything under the sun which affects this market
"Millionaires don't use astrology, billionaires do"
  • #101,909
  • Jul 17, 2008 7:16pm Jul 17, 2008 7:16pm
Quoting malcolmb14
like it prefer to trade gbpcad .2.0050 target off 2.0100 as it dropped thru the Keltner channel.

Attachment

close enough .. closed 7 pips off target ... got to love those Keltner channel

Attached Image
Blogging daily now at www.volume.zone
  • #101,910
  • Jul 17, 2008 7:20pm Jul 17, 2008 7:20pm
Quoting malcolmb14
Oh .... I guess they can remove the Congressional ban , set up drill rigs and start producing oil all in one week , It is going to take years before you see the first drill producing oil due to the lifitng of the ban.

OPEC have already said way back that oil supply was NOT an issue and oil should be $70 per barrel.

The hedge funds are the ones that have been pushing up oil .... do you think at 147 they we are going long the market ? and now do you think they are going short the market .. of course they were ... manipulation at its best.

The real thing that Bush should do is cap the price that futures traders can buy oil at ... but why wpuld he do that ... doesn't he own a shit load of stakes in the oil industry. OH hold on there is an election this year .... oil and war are what makes Bush richer than rich . Why would he want oil prices to drop so close to the end of his term in office ?

Also of note is that I think today is the day that the oil future options expired. Tomorrow is stock option expiry day and will cause some volatility in the markets.
i think u voted for bush
this sucker was known for all that and the americans voted for him TWICE anyway.

lots of the suckers who voted for him wanted "cheaper" oil, but guess what, he farted into each one of their faces

oh hold on, there is also "dick" cheney. bush makes money off of high oil prices, but who do u think makes money from the drilling?
  • #101,911
  • Jul 17, 2008 7:22pm Jul 17, 2008 7:22pm
Quoting OrionsWay
well yea but its the Bids and Offers or supply and demand

You will not go far in forex promise if you think that its just about a chart. Every action globally affects asset allocations of funds to the tune of 1.7 trillion daily across all the currencies. You can be nieve if you like its your money. JUST and info not a reco. really dont care if you make it or not.

Obviously though you are looking for help, insight , confirmation what have you. open your ears and eyes to what a market is really about.
Its not the wheat market where drought heat waves cold snaps transportation affect the prices. its about everything under the sun which affects this market
I do care to succeed, and I do care if I make it or not. I hope to make it with charts, so maybe I will and maybe I won't. I don't think I'm nieve, I'm not a kid, I'm 30, but I do have a different views about this market. I know there are fundamentals, but I can't trade by them. I do listen, and I have learned a lot from here. Let's see if my charts are accurate that we'll see 214 GJ, and 169.5 EJ. I'll shut up now, continue..
  • #101,912
  • Jul 17, 2008 7:29pm Jul 17, 2008 7:29pm
Quoting Clouds
I do care to succeed, and I do care if I make it or not. I hope to make it with charts, so maybe I will and maybe I won't. I don't think I'm nieve, I'm not a kid, I'm 30, but I do have a different views about this market. I know there are fundamentals, but I can't trade by them. I do listen, and I have learned a lot from here. Let's see if my charts are accurate that we'll see 214 GJ, and 169.5 EJ. I'll shut up now, continue..
clouds .... I think you are better than I am .

I overthink things to much sometimes keeping me out of trades or as I did the last 2 days , keep me in bad trades that are going sideways on me.

If , as you say , look at the charts and do what they say , you do not need to think about anything else.

You have the right approach in my opinion.

I taught my girlfriend how to trade using the same methods I do . She know nothing of YM , oil , gold or any of that .. Her results are better than mine.
Blogging daily now at www.volume.zone
  • #101,913
  • Jul 17, 2008 7:30pm Jul 17, 2008 7:30pm
Quoting poweredbuyer
All,

OIL Closed below 130 ... honestly this doesn't make sense ... these markets are absolutley insane.

I firmly believe more strength for the dollar tommorow.

Thoughts?
This is what smart banks do:

* when the market is slow, industry bad (loans, mortgages..) they are producing big losses.

* they borrow from FED'S window cheap money, invest on commodities, OIL, push the price, and then sell.

* efect tripple: they shows big profits in the books, FED's are happy, Stock market is back ... everybody is happy.

* when all is over, bussines as usuall.
  • #101,914
  • Jul 17, 2008 7:31pm Jul 17, 2008 7:31pm
reversal pivot entry 10 min chart , 2.0390 entry target

Attached Image
Blogging daily now at www.volume.zone
  • #101,915
  • Jul 17, 2008 7:36pm Jul 17, 2008 7:36pm
I think GY is still in bullish mode .Here is what i gonna do....


Go short if:

If a candle closes below the daily pivot point and next candle makes lower low of the previous candle or goes down by 15-20 pips..again keep eye on the 211.15-211.00. you may see some bounce around this area.If it breakes this level then next level would be 210.15 and that is what i will be targetting at for my short trades.

Go long if
1. a candle(H1) closes below the pivot point and next candle comes back above the pivot point. ( dont think it will happen but again we never know)
or
2. clear break of 213.15 area. I will take this trade either after retracement or when next candle makes higher high of the previous candle...Once i am in, i will let my long trade run and will add some on dips.....

Again, timing is very important.So watch out for those lables during Lodon trading hours. As i am typing, i can see price limping towards 113 areas...

Just learning....
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  • #101,916
  • Jul 17, 2008 7:48pm Jul 17, 2008 7:48pm
Quoting malcolmb14
clouds .... I think you are better than I am .

I overthink things to much sometimes keeping me out of trades or as I did the last 2 days , keep me in bad trades that are going sideways on me.

If , as you say , look at the charts and do what they say , you do not need to think about anything else.

You have the right approach in my opinion.

I taught my girlfriend how to trade using the same methods I do . She know nothing of YM , oil , gold or any of that .. Her results are better than mine.
I am not better than you, unless you want to compare our losses and see? Have to go, but in time, we'll both be laughing at this, and both reach our goals.
  • #101,917
  • Jul 17, 2008 7:49pm Jul 17, 2008 7:49pm
Looks like we are on our way back up.

New daily bar opened just above Daily 200SMA.
QQE is crossed up.

I believe the retracement was within the last bar itself.

But not too sure about this one.

Break 214.00 long.

If not I will follow the basic strategy for any shorts.

I still don't trust this move up...but hey it is what it is...
Attached Image (click to enlarge)
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  • #101,918
  • Jul 17, 2008 7:50pm Jul 17, 2008 7:50pm
Quoting Clouds
I do care to succeed, and I do care if I make it or not. I hope to make it with charts, so maybe I will and maybe I won't. I don't think I'm nieve, I'm not a kid, I'm 30, but I do have a different views about this market. I know there are fundamentals, but I can't trade by them. I do listen, and I have learned a lot from here. Let's see if my charts are accurate that we'll see 214 GJ, and 169.5 EJ. I'll shut up now, continue..

Yes Clouds succeeding is good and may you have it, yet simple is good and may you have it, BUT to understand the complexity first then discard all of it and move back to simplicity is the answer.

? Do you trade the news, or are you afraid of the power being unleashed
"Millionaires don't use astrology, billionaires do"
  • #101,919
  • Jul 17, 2008 8:06pm Jul 17, 2008 8:06pm
I see double bottom pattern on M1 scalping chart. But price at 92% fib level for the month. Price must break trendline to go up. I wait for opportunity to show.


Attached Image (click to enlarge)
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My english not so good. I soory.
  • #101,920
  • Jul 17, 2008 8:15pm Jul 17, 2008 8:15pm
SELL target 211.45. cheers or maybe 211.53
Loving Life.............
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