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  • #9,141
  • Feb 24, 2009 2:03pm Feb 24, 2009 2:03pm
The dow is up today. would that lend to the usd strenght?

Regards
BB
Whats happening in EUR/USD should be happening to you!
  • #9,142
  • Feb 24, 2009 2:05pm Feb 24, 2009 2:05pm
Quoting BullsAndBear
The dow is up today. would that lend to the usd strenght?

Regards
BB

Opposite ....stocks up mean people take money out of currency and put into stock market...you dont look at the stock market at that exact candle but more of what can happen next.. then you know what can happen at the pairs or have a better idea of direction...also look at the strengh on the market over the main currencies as well...
  • #9,143
  • Feb 24, 2009 2:35pm Feb 24, 2009 2:35pm
Quoting Shermenator
Opposite ....stocks up mean people take money out of currency and put into stock market...you dont look at the stock market at that exact candle but more of what can happen next.. then you know what can happen at the pairs or have a better idea of direction...also look at the strengh on the market over the main currencies as well...
I see. it looked like usd was down a little against eur, gpb, and it was down against cad, even down against aud. but it kicked jpy all over the place. not sure what to gauge jpy against to determine weekness.

Peace
BB
Whats happening in EUR/USD should be happening to you!
  • #9,144
  • Feb 24, 2009 2:49pm Feb 24, 2009 2:49pm
Quoting BullsAndBear
I see. it looked like usd was down a little against eur, gpb, and it was down against cad, even down against aud. but it kicked jpy all over the place. not sure what to gauge jpy against to determine weekness.

Peace
BB
BB - Here's what I do for a quick and dirty analysis of which currency is strong/weak at the moment. I typically take the 7 widely traded currencies (AUD, CAD, CHF, EUR, GBP, JPY, USD) and will look at them relative to each other.

All currencies are listed XXX/YYY. So simple fractions tells you that to make the number larger you need to increase the numerator (XXX) or decrease the denominator (YYY).

So for that price to go up, either XXX must increase relative to YYY or YYY must decrease relative to XXX.

So looking at today, I can see the following with respect to JPY (its an easy one):

???/JPY is UP pretty big for the day (100+pips). So that would mean every currency is strong (relative to the JPY) or JPY is weak.

Now if you look at the USD, for everything except JPY you'll see that all ???/USD pairs are up, yet USD/??? are down which again implies USD is weakening (or all other currencies are showing strength relative to the USD).

If you were to really go through this for every possible pair in the group, you could in theory see which is the strongest currency at the moment and which is the weakest (and all the different levels in between). But the keyword there is "moment" as that can change in the blink of an eye.

Hope this helps.
  • #9,145
  • Feb 24, 2009 3:26pm Feb 24, 2009 3:26pm
Alright guys peace I have to go sleep for about 1-2 hours since I have college soon . Will be back tonight when I wake up for london.
  • #9,146
  • Feb 24, 2009 3:56pm Feb 24, 2009 3:56pm
Quoting Shermenator
Opposite ....stocks up mean people take money out of currency and put into stock market...you dont look at the stock market at that exact candle but more of what can happen next.. then you know what can happen at the pairs or have a better idea of direction...also look at the strengh on the market over the main currencies as well...
Not saying you're wrong at all, but wouldn't the USD go up if the Dow was up? My reasoning is that Dow going up means more foreigners with other currencies convert to USD in order to invest in the Dow, thus increasing the USD's value vis a vis other currencies.
  • #9,147
  • Feb 24, 2009 4:13pm Feb 24, 2009 4:13pm
Correlations between Fx pairs, indicies and commodities are complex and the subject of much discussion.

The dollars safe haven status and DOW correlation is the topic here: -

http://www.dailyfx.com/story/dailyfx...366398354.html
  • #9,148
  • Feb 24, 2009 4:47pm Feb 24, 2009 4:47pm
does any of you know how can I contact BRV ?

thanks.
  • #9,149
  • Feb 24, 2009 6:49pm Feb 24, 2009 6:49pm
Morning,

Crappy day yesterday oh well dam Euro.

Geppy up. look into my avatar's eyes and chant brek, brek, brek
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  • #9,150
  • Feb 24, 2009 7:00pm Feb 24, 2009 7:00pm
Hey guys, been a while since I posted

Just stopping in to give a shout out to Willowgal if she still posts in here. Her linking to another thread (shakesfx scalping 1min charts) gave me the basis to change my trading strategy, and I'm loving it.

Still trading S/R and all that good stuff, just on the 1min chart now, while I keep an eye on my 1H charts for key levels to trade off. Literally feel like my eyes were opened as to how price moves and more importantly why certain levels are as important as they are. Better yet is I can scalp the hours when there's not much going on, and still catch the big moves. No more only 1-2 trades a day, now 10-20.

Anyways here's a chart.. what I'm looking at on one half of my screen
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  • #9,151
  • Feb 24, 2009 9:06pm Feb 24, 2009 9:06pm
Alright guys we might see some yen strenght back...but I dont like the fact it is trying to take place at an early time so their might not be enough limit orders in front of the levels yet so we might see a bit of range untill we at least get closer to Franky open
  • #9,152
  • Feb 24, 2009 9:13pm Feb 24, 2009 9:13pm
Best Times to Trade
by ForexTechniques.com
EUR/USD

During the Tokyo session, the Euro only trades 15% of all volume so it is best to start watching the Euro late in the Tokyo session.It trades 39% of all forex volume during the London session. It can also be traded during the New York session.

GBP/USD

The pound trades extremely lightly during the Tokyo session. Start watching it near the end of the Tokyo session as it can start moving then. In the London session ,GBP/USD accounts for approximately 23% of all forex trading volume. The pound can be traded in the New York session also.

USD/JPY

During the Tokyo session,USD/JPY accounts for approximately 78% of all forex volume. This drops to about 17% during the London session.
Throughout 2005, we have noticed good daytrading setups during the Tokyo, London and New York sessions. Anyone with deep pockets could start setting the market direction. Therefore trade our setups whenever they appear. Good moves can even start when price is moving sideways.

The Tokyo session opens at 0.00 GMT or 7 PM EST and closes at 9.00GMT or 4 AM EST. The first hour after opening provides the best liquidity of the day.
The London session is the largest market and opens at 8.00GMT or 3AM EST and closes at 17.00 GMT or 12 PM EST. Trading is best between 7.00GMT and 10AM GMT.
The New York session opens at 13.00 GMT or 8 AM EST and closes at 22.00GMT or 5 PM EST. The best trades occur in the first 3 hours.
News Releases / Economic Data Releases
2350 GMT Japan Fundamentals
0745 GMT Eurozone Fundamentals
1330 GMT USA Economic Figures
During Summer Time these news release times are 1 hour earlier.
  • #9,153
  • Feb 24, 2009 9:46pm Feb 24, 2009 9:46pm
we see some Stock market strenght coming up so we might see some usd weakness in the upcoming day or two....as well as I see some yen strenght coming up today ....the dictates why I really would like to get a shot at selling dollars today

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  • #9,154
  • Feb 24, 2009 10:29pm Feb 24, 2009 10:29pm
Thanks for the read shermenator. Much appreciated. i do not see any strength in the yen. I have a tool for my ibfx platform that compares 8 currencies to eachother and gives you red or blue or nutreul depending on the its strength in realtion to the others. i have it set to 1h and yen shows red and all day also shows red,,,,,for weak.

LMK wut you see sherm.

BB
Whats happening in EUR/USD should be happening to you!
  • #9,155
  • Feb 24, 2009 10:40pm Feb 24, 2009 10:40pm
Quoting BullsAndBear
Thanks for the read shermenator. Much appreciated. i do not see any strength in the yen. I have a tool for my ibfx platform that compares 8 currencies to eachother and gives you red or blue or nutreul depending on the its strength in realtion to the others. i have it set to 1h and yen shows red and all day also shows red,,,,,for weak.

LMK wut you see sherm.

BB
Well the more prices go up the weaker and the more prices drop the stronger the market gets....buyers and selers will gather since it will become a bargain to an investor
  • #9,156
  • Feb 24, 2009 10:59pm Feb 24, 2009 10:59pm
allright, see ya in am sherm. gonna catch a nap and try to get some action around 5am central.

BB
Whats happening in EUR/USD should be happening to you!
  • #9,157
  • Feb 24, 2009 11:03pm Feb 24, 2009 11:03pm
Alright I have now pull the trigger in 2 trades....


GBPJPY short ....

Attached Image (click to enlarge)
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and usdjpy short...


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  • #9,158
  • Feb 24, 2009 11:07pm Feb 24, 2009 11:07pm
sorry for the delay in my entry above....

well I am 25 pips in the gbpjpy already....

and up 10 in the usdjpy...

Attached Image (click to enlarge)
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and my usdjpy short...

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 30 KB
  • #9,159
  • Feb 24, 2009 11:08pm Feb 24, 2009 11:08pm
Quoting Shermenator
sorry for the delay in my entry above....

well I am 25 pips in the gbpjpy already....

and up 10 in the usdjpy...

Attachment

and my usdjpy short...

Attachment
You better be glued to the S&P futures they look like they are reversing
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #9,160
  • Feb 24, 2009 11:24pm Feb 24, 2009 11:24pm
Quoting djambazov84
You better be glued to the S&P futures they look like they are reversing
Majority of the attention is on the close ....futures are trying to predict past that...so many traders are going with the analysis of the close and as you closer to the Ny open then the futures get more attention since people start wondering more about the open. Thats when I tend to give it more importance since it will start taking a bigger inpact on the market ...thanks for the advise
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