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  • #80,161
  • Mar 26, 2009 4:20am Mar 26, 2009 4:20am
Quoting dbfusion
yes this i understand , its just the first part which i am interested in
first part? waiting for proper trade you mean?
It all depends on your style.... this ranging periods can be wonderful for scapers. But it is not my style. And should not be the style of new traders either.
  • #80,162
  • Mar 26, 2009 4:21am Mar 26, 2009 4:21am
means direction is clear?

I think when GBP consumer down and investment up both come out.

then short for the news is a good one...

my broker quote for GU drops from 1.4580 directly to 1.4540 just now...
did not allow me to jump on so I'm trying to find a news trading broker and have a little try on it.

I didn't pay attention to EU news today though.

Quoting dbfusion
yes this i understand , its just the first part which i am interested in
  • #80,163
  • Mar 26, 2009 4:22am Mar 26, 2009 4:22am
Quoting dbfusion
yes this i understand , its just the first part which i am interested in

1h chart- looks like it is at the top of a opening channel. The channel seems to be opening to the downside. Just my view.
  • #80,164
  • Mar 26, 2009 4:23am Mar 26, 2009 4:23am
Quoting emda
thank you for the interest... I didn't want to write if no one asks.

In my opinion there was no trade this morning... reasons I see:[list=1][*]as yesterday said... USDCNY is in critical level... could break down and usd is very sensitive to what is going to happen in china.[*]London open didn't move so much... meaning that smart investors are not trading.. why should you trade too ?[*]Unemployment Claims and Final GDP News coming soon... Market is waiting.[*]Bull Flag nearly confirmed but not yet... there is resistance that needs to be broken...
Mind you, he is wise...


Hi emda... good morning from sunny canary
  • #80,165
  • Mar 26, 2009 4:23am Mar 26, 2009 4:23am
Quoting emda
thank you for the interest... I didn't want to write if no one asks.

In my opinion there was no trade this morning... reasons I see:[list=1][*]as yesterday said... USDCNY is in critical level... could break down and usd is very sensitive to what is going to happen in china.[*]London open didn't move so much... meaning that smart investors are not trading.. why should you trade too ?[*]Unemployment Claims and Final GDP News coming soon... Market is waiting.[*]Bull Flag nearly confirmed but not yet... there is resistance that needs to be broken...

thank you , i was watching the pair since like 5 hours and was getting annoyed with this 40 pips channel and no obvious direction .

so its better to take this day off and do what the smart money is doing
I SEE YOU !!
  • #80,166
  • Mar 26, 2009 4:23am Mar 26, 2009 4:23am
Quoting billye
means direction is clear?

I think when GBP consumer down and investment up both come out.

then short for the news is a good one...

my broker quote drops directly to 1.4540 just now...
did not allow me to jump on so I'm trying to find a news trading broker and have a little try on it.
hi billye
what do you mean your broker drops directly to 1.4540?
we have similar avatars... hehe.
  • #80,167
  • Mar 26, 2009 4:26am Mar 26, 2009 4:26am
Quoting dbfusion
thank you , i was watching the pair since like 5 hours and was getting annoyed with this 40 pips channel and no obvious direction .

so its better to take this day off and do what the smart money is doing
well.... maybe in US session things will move... but if your time schedule doesn't allow you to trade US session maybe yes... it is better to not risk your money today... of course the trend is up but we are hitting resistance and you should consider huge stops. I don't like to enter at breaks... I prefer entering at retests confirmation of break levels.
  • #80,168
  • Mar 26, 2009 4:27am Mar 26, 2009 4:27am
Quoting dbfusion
thank you , i was watching the pair since like 5 hours and was getting annoyed with this 40 pips channel and no obvious direction .

so its better to take this day off and do what the smart money is doing
The situation is quite crappy and isnt saying much (except maybe stay the hell away from me).
{Promotion Removed}
  • #80,169
  • Mar 26, 2009 4:27am Mar 26, 2009 4:27am
Quoting emda
first part? waiting for proper trade you mean?
It all depends on your style.... this ranging periods can be wonderful for scapers. But it is not my style. And should not be the style of new traders either.
I am testament to that. I try to play the daily and not even look at anything smaller than the 1hour
  • #80,170
  • Mar 26, 2009 4:29am Mar 26, 2009 4:29am
US session is late to me
I will take your advise and take this day off

I will only watch
I SEE YOU !!
  • #80,171
  • Mar 26, 2009 4:30am Mar 26, 2009 4:30am
Quoting jackdan
Mind you, he is wise...


Hi emda... good morning from sunny canary
hi there
cloudy Barcelona here.. but not cold.

lets see what US session gives us today... I have +221 floating pips in eurjpy to compensate and hedge if I see EURUSD going down
  • #80,172
  • Mar 26, 2009 4:32am Mar 26, 2009 4:32am
Quoting emda
thank you for the interest... I didn't want to write if no one asks.

In my opinion there was no trade this morning... reasons I see:[list=1][*]as yesterday said... USDCNY is in critical level... could break down and usd is very sensitive to what is going to happen in china.[*]London open didn't move so much... meaning that smart investors are not trading.. why should you trade too ?[*]Unemployment Claims and Final GDP News coming soon... Market is waiting.[*]Bull Flag nearly confirmed but not yet... there is resistance that needs to be broken...
1. USDCNY never can be considered at critical levels since that is not dependent on the market itself and its heading up not down, to my opinion
2. do agree
3. do agree
4. that is not bull flag for me, look at the volume and you will understand what i mean
  • #80,173
  • Mar 26, 2009 4:34am Mar 26, 2009 4:34am
Quoting klinckphilip
I am testament to that. I try to play the daily and not even look at anything smaller than the 1hour
Very good!
Mastering trading the daily is important so you can have a very good starting point for intraday trading in the future... and how knows... for scalping later. Usually new traders start in the lowest timeframe, and don't understand why the moves are happening. Trading the daily also forces you to study more the most important thing.. the money management. You are on the good path.
  • #80,174
  • Mar 26, 2009 4:38am Mar 26, 2009 4:38am
Quoting arthurb
1. USDCNY never can be considered at critical levels since that is not dependent on the market itself and its heading up not down, to my opinion
2. do agree
3. do agree
4. that is not bull flag for me, look at the volume and you will understand what i mean
what do you mean for usdcny? it is at 6.8 support... and a break of this support could trigger a US sell off... China could sell dollar reserves since the FED is already printing their own.. no sense to keep some outdated dollars... I'd watch closely to China.

I don't look at the volume because I only have access to the broker volume. The pattern is a clear bull flag to me.. without volume considerations... but as all patterns it needs to be confirmed.
  • #80,175
  • Mar 26, 2009 4:43am Mar 26, 2009 4:43am
Quoting emda
hi there
cloudy Barcelona here.. but not cold.

lets see what US session gives us today... I have +221 floating pips in eurjpy to compensate and hedge if I see EURUSD going down

... have no pos yet for today... will wait the news, not on a hurry! ;-)
  • #80,176
  • Mar 26, 2009 4:46am Mar 26, 2009 4:46am
Quoting emda
yes I want more gold
Got to love Scrooge McDuck
  • #80,177
  • Edited 4:49am Mar 26, 2009 4:48am | Edited 4:49am
Quoting emda
what do you mean for usdcny? it is at 6.8 support... and a break of this support could trigger a US sell off... China could sell dollar reserves since the FED is already printing their own.. no sense to keep some outdated dollars... I'd watch closely to China.

I don't look at the volume because I only have access to the broker volume. The pattern is a clear bull flag to me.. without volume considerations... but as all patterns it needs to be confirmed.

China cant survive without exports, i mean really survive as a state. Last year i spend 6 months in China, so i know what i am talking about and i know from experience not from newspapers or tv. They cant afford to dump the dollar, i am not going into a deep analysis, bcs it is not the place.

peace
of course

For a bull flag to be considered confirmed , the volume should be falling , in fact it isn't, and the flags shouldn't take so long time, you find flags in strong trends, consider eur/usd is still bearish and this is a bear market rally in my opinion, i begun shorting the pair since last week, so maybe i am a little biased in this opinion about this whole bull flag thing.
  • #80,178
  • Mar 26, 2009 4:48am Mar 26, 2009 4:48am
hai guys im buy at 1.3555...wonder will go up to 1.3845..then go down again...
be patient, self-belief and discipline... stay focus...
  • #80,179
  • Mar 26, 2009 4:53am Mar 26, 2009 4:53am
With the up comming news and then the only person to make Bernake look good Treasury Sec Geithner Speaking. mabe we should plan for both directions?
  • #80,180
  • Mar 26, 2009 4:56am Mar 26, 2009 4:56am
Quoting kevinsw
With the up comming news and then the only person to make Bernake look good Treasury Sec Geithner Speaking. mabe we should plan for both directions?
Yes, a little option trade will be good... i'm looking for a entry level.
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