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  • #92,961
  • May 6, 2009 4:05am May 6, 2009 4:05am
Quoting Atlast
As you can gauge, I am more than interested in this. I have traded the indices and Euro side by side, paying general attention to correlations, but yours make the most sense. Whenever I trade them separately I am better off. Together it gets me overstretched watching both and have not had any real consistency. However, your observation presents a simple way to trade both at the same time without overanalysis.
You probably noticed I don't even have candles on that chart. Just close price for M5. Also, SPX is scaled to E/U quotations but keeps the pips. But the most important is the orange line in the indicator below. It is a SPX vs EUR (reverted - if the line goes down, stocks actually go higher) and for the moment, the only thing I trade is the rebound that follows strong moves.
  • #92,962
  • May 6, 2009 4:06am May 6, 2009 4:06am
Quoting WedWed
my friend hope to learn from you .. i use PitchFork and i think thats what u told me ..

what is fork line .. could you show me.

thanx in advance
The low on the left of the graph you showed, just take a pitchforf off that. I am not on the 5 min time frame at the moment, but if you don't see it let me know and I will pull it up. I am no expert on pitchfork as experts come, but I have traded them for a long time and I know what works
  • #92,963
  • May 6, 2009 4:17am May 6, 2009 4:17am
Quoting F.x.
We're sitting on top of a TL right now which means that TL is now support, so I wouldn't go short at this price. 1.3333 would be a better place, though not great either....

Did anyone take me up on this and scalp 20 or so pips? Hope so...

My long from 3288 is still in play w/ SL moved to BE + a few pips. So it's a win either way. Though, as I said before, it's just for fun.
  • #92,964
  • May 6, 2009 4:22am May 6, 2009 4:22am
Quoting MuddBugg
LIBOR... good for credit, bad for dollar:

As mentioned in the prior update, the 3-month US dollar LIBOR rate fell to an all-time record low of 0.986%. This historical low in USD LIBOR has several ramifications us currency traders need to consider. US dollar LIBOR is the world's foremost and widest recognized benchmark interest rate banks charge each other to lend in US dollars. LIBOR rates are also closely connected to the Fed Funds target rate and the 10-year Treasury.

LIBOR is one of the core underlying fundamentals of the FX market...
Very informative post. Will have to keep an eye on it. Thanks for that.
Nothing worth having is easy.
  • #92,965
  • May 6, 2009 4:25am May 6, 2009 4:25am
still in my trade .

one of those slow annoying trades
I SEE YOU !!
  • #92,966
  • May 6, 2009 4:32am May 6, 2009 4:32am
I'm short at 1.3322, because I like the look of Dereks Elliott Wave chart and I think the bulls have run out of grunt. I stand to be corrected of course, 'cos I'm a novice at this....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #92,967
  • May 6, 2009 4:36am May 6, 2009 4:36am
The Euro to touch 1.3296, guess
  • #92,968
  • May 6, 2009 4:38am May 6, 2009 4:38am
Quoting Atlast
The Euro to touch 1.3296, guess
I'm looking for 1.3293
Doing what you like is Freedom. Liking what you do is Happiness.
  • #92,969
  • May 6, 2009 4:40am May 6, 2009 4:40am
Some nice resistance at around about the 3330 level on the 15min chart. Interesting. I took a few scalps on the way up which was good.
  • #92,970
  • May 6, 2009 4:41am May 6, 2009 4:41am
I close my short position with only 11 pips, I think the price not strong enough to moving down
  • #92,971
  • May 6, 2009 4:42am May 6, 2009 4:42am
Current upmove looks tentative and sluggish with very little thrust/mom behind it....need to wait to see if Trichet can add some mojo to it or it may just stall and flip. Anyway my indis will show if it does flip, stay in tuned...
  • #92,972
  • May 6, 2009 4:43am May 6, 2009 4:43am
Quoting Atlast
The Euro to touch 1.3296, guess
are you looking at the double top @ 5m chart
it should be targeted 3282


any how I lost faith after almost 3 hours and I am short @ 3316.
if we don't break down soon I think i will close it

if I see momentum change to up I will close it too
I SEE YOU !!
  • #92,973
  • May 6, 2009 4:46am May 6, 2009 4:46am
Quoting dbfusion
are you looking at the double top @ 5m chart
it should be targeted 3282
I did notice that, and I have another short from the same level looking for 1.3285
Doing what you like is Freedom. Liking what you do is Happiness.
  • #92,974
  • May 6, 2009 4:47am May 6, 2009 4:47am
Quoting TheFisherman
...

I don't know why it goes like this in the present times. Maybe forex reacts quicker to news... I don't know but it's a fact that I can prove. Se one small example on the chart below.
Fisher, what are those two lines in the indicator window?
Time goes you say? Ah, no! Time stays. We go...
  • #92,975
  • May 6, 2009 4:48am May 6, 2009 4:48am
Quoting dbfusion
are you looking at the double top @ 5m chart
it should be targeted 3282


any how I lost faith after almost 3 hours and I am short @ 3316.
if we don't break down soon I think i will close it

if I see momentum change to up I will close it too
It's moving as I anticipate. The ideal would be a trade down to the level you said, even below then a strong upmove. I am not counting on that to happen as I jump on board this, hopefully to take a nice long rest for the day
  • #92,976
  • May 6, 2009 4:58am May 6, 2009 4:58am
Quoting Atlast
It's moving as I anticipate. The ideal would be a trade down to the level you said, even below then a strong upmove. I am not counting on that to happen as I jump on board this, hopefully to take a nice long rest for the day
I have little faith that we will go down now , even though i am hoping.

it should have happened like one hour ago or more

my hand is @ the close button now

any momentum change I will be out
I SEE YOU !!
  • #92,977
  • May 6, 2009 5:00am May 6, 2009 5:00am
I can't make sens eof that blip. What a shitty market!
  • #92,978
  • May 6, 2009 5:01am May 6, 2009 5:01am
what the heck was that? it just touched my SL and back
  • #92,979
  • May 6, 2009 5:01am May 6, 2009 5:01am
I guess you could say it touched 1.3296 on the ask if your spread is 5 pips
  • #92,980
  • May 6, 2009 5:03am May 6, 2009 5:03am
Woa! What was that spike? I was not paying attention...
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