Technical Analysis Fallacy

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There is no such thing as a normal trading day.
Everyday the challenges are different, and the trader has to use their wits and experience, plus training tempered with a little luck in taming the markets.

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0532 GMT [Dow Jones] USD/JPY likely to try 108.70 support - low marked on Wednesday - as European players enter market, says trader at Japan bank; "the main focus is oil. Should gains in oil accelerate, this could cause the dollar to tumble further." Is important to see how Europe players react to UK Telegraph report that Russia may cut off oil flows to West. Adds, if 108.70 breaks, pair may target 108; "as long as the dollar stays above 108.70, it's going to be overall range-bound trade, but if it falls below that it could mean the start of a slight downtrend." Now at 109.01 on EBS. (VAU)

Quoting MaMood

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Beside the 3 kgds keep a look at oil today:



Don't forget: There is always some "bullshit" included.

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Quoting MaMood

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Hi joy,

"cheer squad" - that's a very nice idea.

Think you have done your day job already???

By the way wich part of australia you are from?
Like this link very much ....
http://www.weltzeit.de/zeitzonenkarte.php

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Quoting joypips

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(IGM)[FX INTERVENTION] A Nikkei article is grabbing the markets attention with a rep...

[FX INTERVENTION] A Nikkei article is grabbing the markets attention with a report that authorities in the US, Europe and Japan had crafted a contingency plan in March to jointly shore up the US dollar. Per sources quoted, officials from the US Treasury, ECB and Japan's Finance Min drew up the currency intervention plan over the weekend of March 15-16. Whilst the parties did not set a specific exchange rate for initiating an intervention or outline the potential scale of the operation, the plan called for central banks to aggressively buy USD while selling yen and euros, in the event the USD faced the risk of free-fall. Under the framework, Japan was to supply the yen necessary for the underlying currency swaps.

I saw this yesterday and forgot to post...I wonder if this is what Dutch Angel is referring to...I can understand fti's talk of manipulation now

joy

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Quoting MaMood

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Good Morning DutchAngel!
Rainy morning here in gernmany

@All
Don't forget about "Labor Day" in the US.
Means equity markets are closing 1800 GMT today and allmost all exchanges are closed an monday.

So don't overstay your positions. Markets will become thin a little earlier than normal ...

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Quoting mijamoto

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Hi to everyone. How are you doing i was like 2 months resting and on holidays, now i am back in business. I have read that, you are not following FTI's instructions what I see as impossible for that short period of time. We need his experiences and plenty of years to be in business at least to understand what he is talking about. In one book, i've read what one millionare said what is the best thing to happen to you in business. That is to bankropt. Then he also said much better is to bankropt more times Therefore we can just learn with mistakes and we have big luck our great techaer alert us on them. Otherwise i've a question for FTI.
I am intersted when big banks do trades when is low volume on the forex and they do it with like 10 pips spread, how is that reflected on chart. regards and happy trading

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Quoting joypips

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Hi mijamoto

Good to see you back...fti is taking a short sabbatical...I see you have returned to whip us for mis-behaving and not following instructions.

We are trying hard and are determined not to go bankrupt and with the knowledge in this thread and support from each I foresee a bright future for us all ...thanks to fti, who temporarily lost faith in us.

regarding your question on manipulation please read post 4448...i hope that helps

joy

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Quoting joypips

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hello again

May be mistaken, but looks to me like LuSan's broom is active tonight with sweeping both sides...no whips please just an observation not a prediction

I still like short

sorry

joy

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Quoting Billionaire

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Hi! All,

I consider myself the 2nd class of people who won't learn without failure (bankcrupt in business or margin call in trading)

The 1st class of people learned from others' mistake and the 3rd class of people repeat their mistake

regards,

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Quoting Billionaire

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Hi Joy,

The E/U has this 2 days plays many such trick, lol

Me too.... down..down...down..

regards,

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Quoting Billionaire

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Hold....., still looking down..

regards,

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