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  • #11,501
  • May 18, 2009 6:19am May 18, 2009 6:19am
Quoting Porkpie
Thanks Copi. I think it works well with SR levels. But I am still unsure how volume can work with forex as prices are not being fed from a centralised exchange, unless you are using currency futures?or relying on your broker's volume but this would still be misleading?
Yes, volume in FX is not entirely accurate, tick volume is used instead.
eSignal is the best for volume apparently as it takes its prices from 300 different sources. I use IBFX as they takes theirs from a number of banks and is apparently the closest to eSignal.

See this thread for more info on VSA - http://www.forexfactory.com/showthread.php?t=157629 and read Tom Williams Book, Master the Markets.
Boxing clever since 76.
  • #11,502
  • May 18, 2009 6:29am May 18, 2009 6:29am
An update on the potential trades I posted earlier.

EU - Long 1.3430 + 52 pips max, DD - 7
AJ - Long 70.46 + 222 pips max, DD - 0
AU - Long 0.7475 + 115, DD- 25
GJ - Long 143.54 + 281, DD - 51

Hope you got in some of them

C
Boxing clever since 76.
  • #11,503
  • May 18, 2009 6:34am May 18, 2009 6:34am
copi post more
  • #11,504
  • May 18, 2009 7:08am May 18, 2009 7:08am
Anyone else looking at a short against the recent upward momentum at 3510?

I don't know if it'll be much but I was thinking it'll be worth about 20 pips.
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  • #11,505
  • May 18, 2009 7:50am May 18, 2009 7:50am
Quoting Sam's Voice
Anyone else looking at a short against the recent upward momentum at 3510?

I don't know if it'll be much but I was thinking it'll be worth about 20 pips.
You're on the right track.

What other evidence is there for a reaction at this price other than RBS/SBR?
  • #11,506
  • May 18, 2009 9:04am May 18, 2009 9:04am
dollar pound and ej all look like they could have good short opportunities
  • #11,507
  • May 18, 2009 11:28am May 18, 2009 11:28am
apart from 20-40 pip moves those look awful haha
  • #11,508
  • May 18, 2009 2:14pm May 18, 2009 2:14pm
Quoting copi88
An update on the potential trades I posted earlier.

EU - Long 1.3430 + 52 pips max, DD - 7
AJ - Long 70.46 + 222 pips max, DD - 0
AU - Long 0.7475 + 115, DD- 25
GJ - Long 143.54 + 281, DD - 51

Hope you got in some of them

C
Great calls, looking now to short AUD/JPY whole day, result - 3 times SL. 320pips run when ATR = 180pip
  • #11,509
  • May 18, 2009 11:44pm May 18, 2009 11:44pm
Here's an article that offers an interesting viewpoint. http://www.traderpsyches.com/documents/path2profits.pdf
Energy and persistence conquer all things! Ben Franklin
  • #11,510
  • May 19, 2009 12:02am May 19, 2009 12:02am
Quoting Iron-man
Here's an article that offers an interesting viewpoint. http://www.traderpsyches.com/documents/path2profits.pdf
A megabite download to see a stupid picture of fraud on the cover-LOL
  • #11,511
  • May 19, 2009 1:04am May 19, 2009 1:04am
Quoting Gambis
Great calls, looking now to short AUD/JPY whole day, result - 3 times SL. 320pips run when ATR = 180pip
Yesterday was a bit crazy
Got out some of those trades way to early in hindsight. But still got to be happy with the winners .
Boxing clever since 76.
  • #11,512
  • May 19, 2009 1:48am May 19, 2009 1:48am
Twitter4skype is back up. Let's see if it works for any length of time...
  • #11,513
  • May 19, 2009 2:00am May 19, 2009 2:00am
Eur/Gbp

8720 is approaching fast on this one, nice level to consider.
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  • #11,514
  • May 19, 2009 2:05am May 19, 2009 2:05am
Quoting Siam
Eur/Gbp

8720 is approaching fast on this one, nice level to consider.
Hi Siam

How are you doing?

Agreed 8727 looks fantastic, I'm expecting a hiccup at 8764 on the way there as well.
  • #11,515
  • May 19, 2009 2:11am May 19, 2009 2:11am
Quoting RedCabbage
Hi Siam

How are you doing?

Agreed 8727 looks fantastic, I'm expecting a hiccup at 8764 on the way there as well.

Hi,

Agreed,

Would you say this is looking like it's about to fall off a cliff ,or is the Euro looking like a safer bet in the long run?
  • #11,516
  • May 19, 2009 2:19am May 19, 2009 2:19am
I see resistance on GBPUSD at 1.5525-1.5535

Someone please confirm this range.
  • #11,517
  • May 19, 2009 2:21am May 19, 2009 2:21am
Quoting Siam
Hi,

Agreed,

Would you say this is looking like it's about to fall off a cliff ,or is the Euro looking like a safer bet in the long run?
Looking at the daily chart my gut feel is that it could fall off a cliff, however much uncertainty exists here as the politicians argue whether or not the tiny green shoots of recovery have any roots on them or not. the UK's dependance on financial services threatens our recovery whereas Europes lack of coordination and unity means they are behind the curve.

A correction at least as far as the monthly level of 8479 looks possible, let's see how many buyers there are at these next few significant levels
  • #11,518
  • May 19, 2009 2:25am May 19, 2009 2:25am
Quoting PLooB
I see resistance on GBPUSD at 1.5525-1.5535

Someone please confirm this range.
I don't see it, we are at 5 month highs.
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  • #11,519
  • May 19, 2009 2:29am May 19, 2009 2:29am
In my view 1.55.
  • #11,520
  • May 19, 2009 2:32am May 19, 2009 2:32am
Quoting RedCabbage
I don't see it, we are at 5 month highs.
lol I realise that. But if you go back to about 25th Nov and late Oct there is resistance or do you think those points are not significant because they are too old?
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