just start with eurusd.......
at last i`ve found a holygrail........
- #20,642
- Jan 11, 2009 10:21pm Jan 11, 2009 10:21pm
- Joined Oct 2007 | Status: Trader | 6,522 Posts
my bad..
- #20,643
- Jan 11, 2009 10:38pm Jan 11, 2009 10:38pm
- Joined Oct 2007 | Status: Trader | 6,522 Posts
Trichet’s week.
EURO Report
Current Environment
As we expected, the dovish comments from ECB VP Papademos set the tone for a bad euro week (down 3.0%). The temporary euro boost from the BoE rate cut was more than erased when the at-consensus US Non-Farm Payrolls was announced. For the 1st time in a generation, the US and EU unemployment rates are within a 1% difference! Attention for this week will center on the ECB rate decision and the CPI release for the EU and US. US CPI this week should be deflationary on a nominal y-o-y basis, but comparable to the EU's (1.6% to 1.8% yoy) if we remove food and energy prices. Over the past 4-5 months, Trichet's post ECB rate decision conferences have been euro bearish, but we think that he will be under great strains to show consensus at the ECB. Trichet's alignment with the traditional German Bundesbank position is openly challenged by other voting members. It will be interesting to see who prevails, but our sense is that while the ECB quarrels, the USD rally continues to gain momentum ahead of Obama's inauguration next week.
Source: ForexDataSource.com
Mon
Jan 12
All Day JPY Bank Holiday
3:00pm EUR ECB President Trichet Speaks
Euro: ECB - To Cut or Not to Cut ?
Thursday Jan 15
8:45pm EU ECB Announces Interest Rates 15-Jan Exp: +2.00% Prior: +2.50%
9:30pm EU Trichet Speaks at ECB Monthly News Conference
p/s: I wonder why this NEWS not stated in the FF Calendar?
Am I getting the wrong info somewhere else?- #20,644
- Jan 12, 2009 12:34am Jan 12, 2009 12:34am
Keep up the good work..... - #20,645
- Jan 12, 2009 4:26am Jan 12, 2009 4:26am
Identify how Fibo is constructed. In Major Fibo (higher TF)... there are many Minor Fibo (lower TF).
Just like in the architecture... the power of a single brick... can build a mega structure if combine together with many more bricks.
Just another thought on Fibo. To me fibo just provide us some guidelines on POSSIBLE support or resistance. Nobody really knew how the price shall react over those lines. As Sham has highlighted you'll find different fibo level at different time frame. So how we draw our fibo is subjective. Normally people will draw the fibo lines from an extreme high or low. But as you can see fibo level also appears eventhough you didn't pick the extreme high or low. Once you draw it thats become your fibo level, your support and resistance but not for anyone else. Well then again all of you might already knew about this so just assume this is just a recap
Can I ask a question..
I am not sure what it call those yellow box price pattern but can we just enter the trade at retracement at top of PB.. ? and other than support line that determine your entry , is there any other reason for your entry.. ?
Look interesting , I am considering myself to move into daily TF ...I am getting tired and bored already trade on lower TF..
http://img26.picoodle.com/img/img26/...ym_a9abf2f.gif
Thanks
- #20,647
- Jan 12, 2009 6:17am Jan 12, 2009 6:17am
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
Mr John..
Can I ask a question..
I am not sure what it call those yellow box price pattern but can we just enter the trade at retracement at top of PB.. ? and other than support line that determine your entry , is there any other reason for your entry.. ?
Look interesting , I am considering myself to move into daily TF ...I am getting tired and bored already trade on lower TF..
Thanks
Sure. Here My explanations.
That formation is called DBHLC. (Double Bar High Lower Close). That is determine price is making a way down south and the position is just nice. Wanden advise to take price patterns at the great position, less traffic which the potential is big.
Thus, looking at that stuff, i already got idea that price gonna move down so im waiting for the small range daily bars to calculate my risk to be more wisely.
The next day after that DBHLC, im placing PO at round number 83 while risking only 90pips. Currently, its 250pips and looking for 1st TP around 80. If the close is below my 80 line today, theres possibility for the price to touch 76 support and i shall change my SL (which on 200 green) supposedly.
Yerp, daily is less stress and you are capable to monitor your other stuff. Its only you need to hold you rifle and wait for the best time to shoot. If you can see now, wakli, wanden n cappalz. Their holding their guns waiting for opp.
You can do that Kimi.
- #20,652
- Jan 12, 2009 9:25am Jan 12, 2009 9:25am
- | Joined Jun 2008 | Status: [email protected] | 222 Posts
Assalamualaikum to all my fwen here...
Hows trading today...nice short huh??
tonite another thousand come inside my pocket... alhamdulillah..(lepas duit kawin..)hehehe
tomorrow another battle...see yaa.. i`m out for cup of tea..
happy trading everyone..
Hows trading today...nice short huh??
tonite another thousand come inside my pocket... alhamdulillah..(lepas duit kawin..)hehehe
tomorrow another battle...see yaa.. i`m out for cup of tea..
happy trading
everyone..
- #20,654
- Jan 12, 2009 7:13pm Jan 12, 2009 7:13pm
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
Thank you very much Mr John...
Now that make sense ...
Less congested area and MM and RR ...
In my chart I can't see any DBHLC but I do see PB which I'm supposed can consider valid entry too isn't it ?? Lets say I'm gonna catch this trade my entry should be at those pink line , should I ??
OK Mr John - I'm gonna read and explore James16 thread...
Thanks
Kimi,
1) Yerp, less congested area. Room for the candle to breath. This consider time and patience.
2) Yeah, i cudnt see DBHLC in your charts but i do see BEOVB formation. Its same. Its like bearish engulfing pattern. Some data feed is different from each broker.
3) Entry shud be ok, just enter and calculate the risk. Watch your SL and your 1st TP. Is it worth??? If that so just hit the button and dont think.
After making your sort analysis, you shall be brave to make decision.
- #20,655
- Jan 12, 2009 7:15pm Jan 12, 2009 7:15pm
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
- #20,656
- Jan 12, 2009 7:18pm Jan 12, 2009 7:18pm
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
mr johnbaem, what pair is it? TQ
That is CHF/JPY.
Bdw, 1st TP target reachable. Im making 100% return in one trade. See? Patience paid. Thanks Wanden!
- #20,658
- Jan 12, 2009 10:14pm Jan 12, 2009 10:14pm
Mr Jack Khalid,
That is CHF/JPY.
Bdw, 1st TP target reachable. Im making 100% return in one trade. See? Patience paid. Thanks Wanden!
Very nice isn't it......
- #20,659
- Jan 12, 2009 11:35pm Jan 12, 2009 11:35pm
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
You can see that it was 38.2 fib rejection on the weekly chart ....
Attachment
- #20,660
- Jan 13, 2009 3:17am Jan 13, 2009 3:17am
- | Joined Jun 2008 | Status: [email protected] | 222 Posts
Hi everyone...
I`m LONG for eur/usd today... dont follow me..just to mention only...its maybe agains me,but due to my culculation..so, i trade this pair for today with tite SL,just to test my calculation... how bout others..? dont want to share something here??
I`m LONG for eur/usd today... dont follow me..just to mention only...its maybe agains me,but due to my culculation..so, i trade this pair for today with tite SL,just to test my calculation... how bout others..? dont want to share something here??