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  • #97,561
  • May 19, 2009 7:59am May 19, 2009 7:59am
Quoting megabuck
my target is at 1.3575....should i target lower?
Nice picking - I bailed my scalp trade at 3580
  • #97,562
  • May 19, 2009 8:06am May 19, 2009 8:06am
Quoting Jurrasic
lol All the time people new to fx come and write such Qs here, myself probably included at some point.

.

Instead of mocking the person and acting like you're a hotshot (with your 20 pip target) just answer his question? You small account trading MF!
  • #97,563
  • May 19, 2009 8:09am May 19, 2009 8:09am
London, May 19th. The EUR/USD dip has extended into the 1.3570s but fresh buying from a US name and a fund player has already kicked spot off the 75 lows. Trading is currently vying for fresh directionality but a rebound back into the 1.36s could be hard to push given the Cable and EUR/JPY dips. As a result, further selling is the most likely prognosis, with support tipped to trail to early European morning lows sub- 1.3550
  • #97,564
  • May 19, 2009 8:09am May 19, 2009 8:09am
Quoting megabuck
my target is at 1.3575....should i target lower?

depends on where you got in. not a bad target. 1.3571 is m3. i would wait till market open to look for additional downside or a bounce.
"i wake up in the morning, and i piss excellence"
  • #97,565
  • May 19, 2009 8:10am May 19, 2009 8:10am
Quoting Jurrasic
lol All the time people new to fx come and write such Qs here, myself probably included at some point.

General answer: Market is typicly moving according to technicals, news are ussualy (unless it's something really big and shocking and even then the effect of it specificly on the chart is short lived - that is if it continues that way it means it intended do it anyway) already counted in in what you see on the chart.

Extended answer and my opinion which I think is very close to the truth:
Fundumentals only matter for long term trends - weekly...
Bravo. IMHO, playing the news in Fx is a dangerous game. Even when the news does push prices, the market returns to its previous trend when its over.
  • #97,566
  • May 19, 2009 8:13am May 19, 2009 8:13am
Quoting notch
Instead of mocking the person and acting like you're a hotshot (with your 20 pip target) just answer his question? You small account trading MF!
lol I think you're the only one around to whom what I wrote sounded "mocking" or couldn't find the answer I wrote somewhere in that message...
You indicator trader you
On the path to Enrichment.
  • #97,567
  • May 19, 2009 8:13am May 19, 2009 8:13am
Quoting kentashiburo
London, May 19th. The EUR/USD dip has extended into the 1.3570s but fresh buying from a US name and a fund player has already kicked spot off the 75 lows. Trading is currently vying for fresh directionality but a rebound back into the 1.36s could be hard to push given the Cable and EUR/JPY dips. As a result, further selling is the most likely prognosis, with support tipped to trail to early European morning lows sub- 1.3550

Hi, how do you get that?
  • #97,568
  • May 19, 2009 8:14am May 19, 2009 8:14am
Quoting bagoomba
Bravo. IMHO, playing the news in Fx is a dangerous game. Even when the news does push prices, the market returns to its previous trend when its over.
which trend is that then?
  • #97,569
  • May 19, 2009 8:16am May 19, 2009 8:16am
news feed
Quoting xiaofeng0717
Hi, how do you get that?
  • #97,570
  • May 19, 2009 8:17am May 19, 2009 8:17am
im out +20pips, waiting opening market..it's risky for go long
  • #97,571
  • May 19, 2009 8:18am May 19, 2009 8:18am
4HR chart still showing upward channel (although diff trajectory from yesterday). I got caught last night on the head-fakes that started to look like a channel down after the previous channel broke.

But, still waiting to see if we're forming a triangle or ascending triangle. Direction too uncertain to trade right now. New pot o' coffee then wait and see.....
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  • #97,572
  • May 19, 2009 8:19am May 19, 2009 8:19am
Expecting a bounce ? at this level in lower tf .Lets see what play out .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #97,573
  • May 19, 2009 8:21am May 19, 2009 8:21am
Quoting Jurrasic
lol I think you're the only one around to whom what I wrote sounded "mocking" or couldn't find the answer I wrote somewhere in that message...
You indicator trader you

Economics 101 (purchasing & interest rate parity 101) that news does have a significant impact on the short-term path (not included the initial news trader reaction) of real exchange rates. There isn't anything more to add.
  • #97,574
  • May 19, 2009 8:22am May 19, 2009 8:22am
Quoting notch
which trend is that then?
An example of what I'm talking about. Here's a chart from Friday. Market was trending down toward the bottom of the channel when there was a flurry of news. The fx reversed during the news, but once the news was over it started right back down.
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  • #97,575
  • May 19, 2009 8:22am May 19, 2009 8:22am
i am pressing the elevator for express up.
  • #97,576
  • May 19, 2009 8:22am May 19, 2009 8:22am
Quoting kentashiburo
news feed
could you tell me how I can get that, I'm looking for that long time.
  • #97,577
  • May 19, 2009 8:25am May 19, 2009 8:25am
Quoting notch
Economics 101 (purchasing & interest rate parity 101) that news does have a significant impact on the short-term path (not included the initial news trader reaction) of real exchange rates. There isn't anything more to add.
Good, then you must be making a ton of cash by trading the news trends set by news releases... lol
Aspecialy today after the German sentiment, great follow up on the numbers.. lol
On the path to Enrichment.
  • #97,578
  • May 19, 2009 8:27am May 19, 2009 8:27am
Quoting bagoomba
An example of what I'm talking about. Here's a chart from Friday. Market was trending down toward the bottom of the channel when there was a flurry of news. The fx reversed during the news, but once the news was over it started right back down.
Yep:
Economics 101 (purchasing & interest rate parity 101) that news does have a significant impact on the short-term path (not included the initial news trader reaction) of real exchange rates. There isn't anything more to add.

But having said all that, I'm sure that there are traders out there that trade the news quite successfuly.

  • #97,579
  • May 19, 2009 8:28am May 19, 2009 8:28am
Quoting trading801
i am pressing the elevator for express up.
let me help you LOL
  • #97,580
  • May 19, 2009 8:30am May 19, 2009 8:30am
Quoting notch
Yep:
Economics 101 (purchasing & interest rate parity 101) that news does have a significant impact on the short-term path (not included the initial news trader reaction) of real exchange rates. There isn't anything more to add.

But having said all that, I'm sure that there are traders out there that trade the news quite successfuly.

I think you're right. But they have access to information that I don't have, and play a very different and much riskier (IMHO) game than I.
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