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  • #39,701
  • Oct 16, 2008 9:51am Oct 16, 2008 9:51am
I think there is a battle here between the Fed and the Bank of Japan.

The Fed is trying to get the USD/JPY lower and the BOJ is trying to do the opposite. I bet that's what's going on....I mean, wow, this is a real fight. This is better than a martial arts tournament, lol.

edit: or something like that. either way two central banks are fighting IMO.
  • #39,702
  • Oct 16, 2008 9:52am Oct 16, 2008 9:52am
Quoting TIckerShuffl
perhaps this is a global concerted effort to strengthen USD. Why?

Contain commodity costs
help US buy out of crisis
justify any further investment in dollar denominated investments
opportunity to sell out of dollar based investments

cheap dollars are over until inflation catches up?
As i read markets, banks and investors are still hoarding dollars and pumping up billions of dough by central banks have not helped markets to stabilize itself yet. So, bad news for global economy = stronger dollar. And European banks are much worse off than its been told to he public.
They think they are smarter than I am.
  • #39,703
  • Oct 16, 2008 9:54am Oct 16, 2008 9:54am
on my TL charts I see the violet one and the last one from previous low still not broken yet
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Money often costs too much...
  • #39,704
  • Oct 16, 2008 9:55am Oct 16, 2008 9:55am
Quoting Driver55
grazie
Hi Driver,

I've just closed my short @ 1.3420- Are you still in?

Julio.
  • #39,705
  • Oct 16, 2008 9:58am Oct 16, 2008 9:58am
Quoting altrader
wtf is going on with gold?
Gold 804.70 drop from yesterday only 35$
Why? Where it might find good support level?
  • #39,706
  • Oct 16, 2008 9:59am Oct 16, 2008 9:59am
Guys...seems we are getting one more H&S shampoo again .... just look at half hour chart and u will see it forming ( right shoulder is forming) .

Seems market is dirty and needs more shampoo ....

I am going short when its complete ....

Best Wishes...
  • #39,707
  • Oct 16, 2008 10:05am Oct 16, 2008 10:05am
Quoting egkid
Gold 804.70 drop from yesterday only 35$
Why? Where it might find good support level?
I think it was a tactic in order to get more people to go long on the USD.
  • #39,708
  • Oct 16, 2008 10:05am Oct 16, 2008 10:05am
Quoting egkid
Gold 804.70 drop from yesterday only 35$
Why? Where it might find good support level?
Gold could find some support on 780 level.
Some say that you should buy gold for your spouse, not for investment.
Well, that is kind of investment as well ....but anyway ^_^
They think they are smarter than I am.
  • #39,709
  • Oct 16, 2008 10:14am Oct 16, 2008 10:14am
Quoting Iktak
Hey ak4x, that's exactly what I've been doing for last 2 weeks Was it working for you?

In smth like 100 trades of this style, 80% were in good direction, and out of those, in 80% PA advanced for further 20-25 pips and then came back and hit the SL And only 2-3 times I got my TP of 40-60 pips.

So my conclusion is... if I closed my positions after those 15-20 pips, fixed TP, without counting on 'big hit', I would win much more...
just got up and heading out... try to answer this.

If you check my posts on this topic, you'll see I almost always scale out a % of profit first, unless it's an ultra short term fixed pip scalp.
So, i have 50 to 75% or so scaled out before it turns and takes me out at 3or 5pips. If you had done that on your trades, would it have made any significant difference in your profit numbers? That's an integral part of my strategy for those kinds of trades... Others may go 60-100 pips before the first scaleout. gotta go, feel free to pm me, back tonite.

re-entered short last nite before knocking off at 3462... looking good.
FUBAR...
  • #39,710
  • Oct 16, 2008 10:32am Oct 16, 2008 10:32am
Quoting JgrB
Hi Driver,

I've just closed my short @ 1.3420- Are you still in?

Julio.
Julio, fist i'm stopper at 3535 than i'm reenter at 3498 and 3448...

it's all so difficult.. but i have decided to close onlz if we return over the max of today.

If you use 'heikin ashi' as i do.. then look at the daily.. you will be see the reason.


edit:
at the moment GBPUSD and USDJPY are at dangerous levels .. if they breaks ..
then we descend all

we will see ..may be a dream ...but if the market let me in my position i try to hold up to 3150-3050.. seems far !!??!!
The best thing that can happen to you is to find out where you're wrong.
  • #39,711
  • Oct 16, 2008 10:49am Oct 16, 2008 10:49am
at these levels may be an accumalation or distribution. Who knows. Personally I think it's a distribution
The best thing that can happen to you is to find out where you're wrong.
  • #39,712
  • Oct 16, 2008 10:59am Oct 16, 2008 10:59am
Quoting Driver55
at these levels may be an accumalation or distribution. Who knows. Personally I think it's a distribution
this foam is for making shoulder ....i think we will see 3450 level ..then we head south ...and who know to what level as weekend is approaching, no time left for pushing EUR...

Long scalpers...just take ur 10 to 30 pips and ran away....my 2cent
  • #39,713
  • Oct 16, 2008 11:04am Oct 16, 2008 11:04am
crude at $70
  • #39,714
  • Oct 16, 2008 11:11am Oct 16, 2008 11:11am
Quoting bigandrich
crude at $70
Also went as low as $68.575 so far today.
  • #39,715
  • Oct 16, 2008 11:15am Oct 16, 2008 11:15am
NY starting to make a move higher. EU to follow?
  • #39,716
  • Oct 16, 2008 11:15am Oct 16, 2008 11:15am
it's all illogical..
take a look at the correlation betwen eurusd /usdjpy/eurjpy

who can explain this situation
The best thing that can happen to you is to find out where you're wrong.
  • #39,717
  • Oct 16, 2008 11:17am Oct 16, 2008 11:17am
I think we will see 1.33081, maby not if I will be wrong
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  • #39,718
  • Oct 16, 2008 11:29am Oct 16, 2008 11:29am
Hi all,

Just wanted to say hi to the EUR/USD room here at FF. I see that their some quality seasoned traders in here. Keep posting your views - like many I have lots to learn and this appears to be a very good place to start!

Happy trading.

noblehobo
  • #39,719
  • Oct 16, 2008 11:42am Oct 16, 2008 11:42am
Quoting Driver55
it's all illogical..
take a look at the correlation betwen eurusd /usdjpy/eurjpy

who can explain this situation
Good or bad data from us make the $ stronger, who can explain this!
EUR/GBP/AUD Falling while at the same time $$ getting stronger!!
$$=Vampire
  • #39,720
  • Oct 16, 2008 11:51am Oct 16, 2008 11:51am
Quoting Driver55
it's all illogical..
take a look at the correlation betwen eurusd /usdjpy/eurjpy

who can explain this situation

The VIX is at record levels. Days like today are why 95% of retail forex traders fail.
"Timing Is Everything. Really I Swear It Is"
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