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  • #99,181
  • May 22, 2009 12:35am May 22, 2009 12:35am
Quoting Chicky
S&P is again at 888.50

Will this hide and seek ever end?
Chicky excuse me but what's the correlation beetwen S&P and €/$?
Where i can find the real time quote of the S&P?
Thanks.
  • #99,182
  • May 22, 2009 12:36am May 22, 2009 12:36am
Quoting Chicky
S&P is again at 888.50

Will this hide and seek ever end?

Wow...it looks like you sleep less than me and I don't get much sleep at all!
  • #99,183
  • May 22, 2009 12:38am May 22, 2009 12:38am
Quoting BullsAndBear
I didnt think we could accurately tell volume on FX since its so large and so many feeds all over the world. What are using to detect volume?

Thank you
bulls
The indicators based on klasters are good to see overbought conditions
for example for eu they will check all pairs which contains them(eu,eg,gu,uj,ej....) and calculate average weight of the currency
  • #99,184
  • May 22, 2009 12:40am May 22, 2009 12:40am
Quoting 99vt66
Sorry and dont mean to sound condescending but I believe one of the main reasons why I have lasted so long in forex is I have learned NOT to make prophecies, forecast, prediction, etc long time ago. Nowaday, I simply FOLLOW that thingy......I always try to stay current.

The destination is not so important but the route/direction is paramount.

Build and Follow your own signposts and not your/their prophecies or whatever....

Trading tips: If your signposts is not in sync with the PA, then you will need to change/refine/tweak/whatever...
99vt66,

It will be highly appreciated if you could kindly explain what is a signpost, also if you could elaborate that statement. I didn't get it. Kindly forgive me for my ignorance. Thanks
The Thief of Wall Street
  • #99,185
  • May 22, 2009 12:46am May 22, 2009 12:46am
Quoting kuzey
The indicators based on klasters are good to see overbought conditions
for example for eu they will check all pairs which contains them(eu,eg,gu,uj,ej....) and calculate average weight of the currency
kuzey, which indicators exactly, and which are your favorites?
thanks...
  • #99,186
  • May 22, 2009 12:46am May 22, 2009 12:46am
Quoting notch
Wow...it looks like you sleep less than me and I don't get much sleep at all!
Notch, I have sleep disorders. Because of my business. I only got into two types of businesses in my life, before trading I was in monkey business.
The Thief of Wall Street
  • #99,187
  • May 22, 2009 12:50am May 22, 2009 12:50am
Yea, I too don't understand what exactly you mean by signpost. I like to think I follow what I think are signs everytime I execute a trade. Just sometimes the sign leads to a cliff edge. So what do you mean, and how do you know the signs are right? Also do you use signs to tell you where there are signs, hehe.
  • #99,188
  • May 22, 2009 12:55am May 22, 2009 12:55am
Quoting okfx
kuzey, which indicators exactly, and which are your favorites?
thanks...
I just use CCFp and CCFP_modified
i use it just to see which pair is most favoured and which is less favoured
at least 1hr,4hr timeframes
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  • #99,189
  • May 22, 2009 12:58am May 22, 2009 12:58am
Quoting Chicky
Wish you all the best.

thank you.. my elevator has 50 pips SL to cushion my not so perfect entries.. however if it hits SL then i will know my call was a VERY TERRIBLE one
  • #99,190
  • May 22, 2009 12:59am May 22, 2009 12:59am
Quoting 2+2=4ex
I have 4 shorts open. 3600, 3700, 3800 & 3900. Playing micro lots.

1.3600 short? i am curious.. is this a kind of strategy u using? otherwise what is the purpose of holding shorts from there and wth negative swap too... super long term method?
  • #99,191
  • Edited 1:08am May 22, 2009 1:03am | Edited 1:08am
Quoting forexer83
Chicky excuse me but what's the correlation beetwen S&P and €/$?
Where i can find the real time quote of the S&P?
Thanks.
The relationship is not always directly proportional, but it tells you economic situation of a country. Markets are economic barometers. S&P may go down because of weaker dollar. Similarly, oil and gold is also denoted in USD. If USD gets stronger, you buy more oil or gold with same $ amount. Therefore if oil and gold get cheaper it would be because of two reasons 1) USD is getting strong 2) Less demand for oil and gold

I get these quotes from GCI Trading. You may open a demo account with them to get these quotes. Their platform shows all three - markets, currencies and commodities.

But kindly remember that more than one factor decide an equilibirium. At times this relationship gets distorted if not completely inverse.
The Thief of Wall Street
  • #99,192
  • May 22, 2009 1:12am May 22, 2009 1:12am
Good mornin all, May the pips be with you.
We have a trendline which formed since the low of yesterday tested twice in last 1 hour on low TF and held.
We could be in for a slow day today with the market consolidating near it's highs. My scalping until 1.3943 is taken out will be to the downside this a.m. with small TP. Level to watch 1.3893
  • #99,193
  • May 22, 2009 1:12am May 22, 2009 1:12am
Quoting Chicky
The relationship is not always directly proportional, but it tells you economic situation of a country. Markets are economic barometers. S&P may go down because of weaker dollar. Similarly, oil and gold is also denoted in USD. If USD gets stronger, you buy more oil or gold with same $ amount. Therefore if oil and gold get cheaper it would be because of two reasons 1) USD is getting strong 2) Less demand for oil and gold

I get these quotes from GCI Trading. You may open a demo account with them to get these quotes. Their platform shows all three...
thank you very much man!
  • #99,194
  • May 22, 2009 1:22am May 22, 2009 1:22am
Quoting forexer83
thank you very much man!
Any time.
The Thief of Wall Street
  • #99,195
  • May 22, 2009 1:24am May 22, 2009 1:24am
Good morning everybody. So the EUR just won't go down huh? I read all the posts over the night and some caught my attention:

1. Being in overbought for some time does not mean it can not stay there longer. In fact, some traders enter a trade only when STOCH/RSI cross into overbought/oversold positions. That's where the move usually gives the best payout.
2. I didn't read the FED notes but that explains it. I FED says sell USD, then SELL USD until further notice (and that would only come from ECB)
3. A retracement could happen but it can be so small tand risky that is hardly worth going after.
4. It's Friday and some traders will close long positions. Also some bears could be stopped out. LT players with a confortable profit will probably stay in the trade until further notice (see pt. #2)
5. Many people are whishing almost crying for the EUR to go down - it may not.
6. Buying into oversold is not the smartest ideea either.
7. Listen to notch - he has a good indicator.

Thus being said, I still think there is no SAFE SHORT opportunity yet.

Gotta go, catch with you later. Check my daily Sun Tzu signature. I have a feeling this one is going to characterize trading today.
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  • #99,196
  • May 22, 2009 1:25am May 22, 2009 1:25am
Yesterday was a very bullish day for this pair.Ever since the daily charts closed below the median, we entered a totally new band for the pair. The long term target for eurusd will be around 1.4290 and the support will be 1.3770. As long as we don't cross below 1.3770 in the daily studies, the pair will resume it's uptrend. Hourly studies are also bullish but it might soon retrace a bit more. If the pair was to retrace back 1.3791 would be my first target, however if the pair does not retrace and still goes higher, my short term target would be 1.4038.
  • #99,197
  • May 22, 2009 1:27am May 22, 2009 1:27am
pending short 3967... will sell more positions on the way up..longer term trade
those who can, do. those who cant, talk about those who can
  • #99,198
  • May 22, 2009 1:28am May 22, 2009 1:28am
Quoting Chicky
Any time.
this is for you boy...
if breaks the A point go short until the B point...else go long for 30-40 pips
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  • #99,199
  • May 22, 2009 1:29am May 22, 2009 1:29am
Quoting Chicky
99vt66,

It will be highly appreciated if you could kindly explain what is a signpost, also if you could elaborate that statement. I didn't get it. Kindly forgive me for my ignorance. Thanks

Very good question.

Different ppl use different technique/indicators/markers/etc to form a kind of road map trying to build a reliable navigational perceptions/aids to help them 'see' the path of the PA which is likely to take.

I personally use simple technical indicators like rsi,stoch.mas.bb and fib for entry/exit/sl with 15/60/240/daily tf charts to plot and track the PA movement and also its momentum including its s/t and m/t trends.

Knowledge of usage and applications of the different technical indicators vis a vis currency pairs,markets conditions, personal characteristic make up/natural tendency and time dynamics are imperative in setting up a reliable and consistently profitable charts with all the signposts in the proper place. It also require a lot of effort, time, basic fundamental analysis understanding, refinement,and patience.

I have actually outlined it in my earlier post too.

Hope it helps and GL....
  • #99,200
  • May 22, 2009 1:33am May 22, 2009 1:33am
Quoting forexer83
this is for you boy...
if breaks the A point go short until the B point...else go long for 30-40 pips
Thanks Forexer83

I have plans to keep on shorting it all the way upto 1.5900 until it shows me a decent retrace. I would be bankrupt if it gets to 1.6000 without a decent retrace, otherwise would have continued this selling spree
The Thief of Wall Street
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