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  • #54,241
  • Jan 6, 2009 10:07am Jan 6, 2009 10:07am
yea tat was wat I thought. Weak Stock, stronger dollar. We can test it today. The DOW is headed south. So expecting EurUSD to south too.
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  • #54,242
  • Jan 6, 2009 10:08am Jan 6, 2009 10:08am
Quoting klinckphilip
be +1
stop now 84
  • #54,243
  • Jan 6, 2009 10:08am Jan 6, 2009 10:08am
Quoting stewrigh
The way I understand it is that if the DOW is down that makes US assets cheaper so corps buy dollars to invest in US assets at low prices.

Conversely if the DOW is strong US assets will be relatively expensive pushing the dollar down.
But with Euro and Pound it works straight.
  • #54,244
  • Jan 6, 2009 10:12am Jan 6, 2009 10:12am
Quoting Farstrider
M5 and M30, M1 to tune the entries/exits. Rarely H1 and H4 to check on the general outlook plus sniffing out key levels. I mainly relay on the general sentiment of the market (perception of the market makers) and than look for the patterns on candlestick chart. I guess that is called PA trading?
Yep! That's PA trading.
But is "perception of the market maker" trading fundamentals?
Life is a party!!! will you seat or will you dance?
  • #54,245
  • Jan 6, 2009 10:12am Jan 6, 2009 10:12am
Entered long @ 1.3400 hoping for a reversal till 1.3500 at least
  • #54,246
  • Jan 6, 2009 10:13am Jan 6, 2009 10:13am
Quoting Komissar
But with Euro and Pound it works straight.
I must admit - I don't understand why the DOW would affect the EURGBP but I guess it must do.
  • #54,247
  • Jan 6, 2009 10:20am Jan 6, 2009 10:20am
Quoting Atondra
Entered long @ 1.3400 hoping for a reversal till 1.3500 at least
got stopped at 84 back in at 87 whoops
  • #54,248
  • Jan 6, 2009 10:20am Jan 6, 2009 10:20am
Quoting sincronic
Yep! That's PA trading.
But is "perception of the market maker" trading fundamentals?

Basicly I want to know the fundamentals in order to know where the market is heading and to refine the entry points based on the PA. Tried working with trading signals but I find them not reliable at all (my ignorance on the subject is great anyway) so MACD and stoch just for confirmation
Riding the Dragon....
  • #54,249
  • Jan 6, 2009 10:21am Jan 6, 2009 10:21am
Look at the 15 min chart - whipsaw galore.

Pick your direction and stick with it.
  • #54,250
  • Jan 6, 2009 10:22am Jan 6, 2009 10:22am
Quoting andys0506
Look at the 15 min chart - whipsaw galore.

Pick your direction and stick with it.
Yeah. Long live scalpers!!
Manage your risk accordingly and you're half done your home work.
  • #54,251
  • Jan 6, 2009 10:23am Jan 6, 2009 10:23am
Quoting andys0506
Look at the 15 min chart - whipsaw galore.

Pick your direction and stick with it.
watch out for the upside on the next 15min candle
  • #54,252
  • Jan 6, 2009 10:23am Jan 6, 2009 10:23am
u long? I think it's not safe to long.

Best is to stop trading until we know wats the real short term trend. Coz at this point, it is still not known.

It seems to be bearish in general
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  • #54,253
  • Jan 6, 2009 10:25am Jan 6, 2009 10:25am
Triangle forming...
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  • #54,254
  • Jan 6, 2009 10:26am Jan 6, 2009 10:26am
Quoting kris
u long? I think it's not safe to long.

Best is to stop trading until we know wats the real short term trend. Coz at this point, it is still not known.

It seems to be bearish in general
I realize that just looking at a few pips here and there
  • #54,255
  • Jan 6, 2009 10:28am Jan 6, 2009 10:28am
Quoting andys0506
Look at the 15 min chart - whipsaw galore.

Pick your direction and stick with it.
wait for trend line to break, don't chase!!!
  • #54,256
  • Jan 6, 2009 10:33am Jan 6, 2009 10:33am
Quoting Farstrider
Basicly I want to know the fundamentals in order to know where the market is heading and to refine the entry points based on the PA. Tried working with trading signals but I find them not reliable at all (my ignorance on the subject is great anyway) so MACD and stoch just for confirmation

Fundamentals
I got a list of fundamentals but if too difficult for me to follow them. I think I must look for a faster way of updating my fundamental data.
The thing is that a build this strategy that it was working well and I just get attached to it and I stopped checking on more alternatives. But with this whole end of year thing I think I must look for new horizonts.
Life is a party!!! will you seat or will you dance?
  • #54,257
  • Jan 6, 2009 10:36am Jan 6, 2009 10:36am
After much analysis I'm mostly shong. Sometimes if the PA indicates, I go lort.

It's working out nicely. I recommend this to everybody.
FUBAR...
  • #54,258
  • Jan 6, 2009 10:44am Jan 6, 2009 10:44am
The hell with it. I hedged again and off to dinner. Can't trade with a head like that

It was a good day and maybe it will be a good night. Watch that 1.344 level. I think it is the key.

Good Luck to All
Riding the Dragon....
  • #54,259
  • Jan 6, 2009 10:44am Jan 6, 2009 10:44am
go long at 1.3451 on 15min. for 10pips
  • #54,260
  • Jan 6, 2009 10:46am Jan 6, 2009 10:46am
Quoting ak4x
After much analysis I'm mostly shong. Sometimes if the PA indicates, I go lort.

It's working out nicely. I recommend this to everybody.
Is it not a little bit risky just basing your trading in PA and fundamentals?
It would be difficult for me to take decisions that way.
Life is a party!!! will you seat or will you dance?
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