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  • #144,521
  • Sep 19, 2009 3:07am Sep 19, 2009 3:07am
Quoting Jay Walker
Yargh! Me matey Peter Schiff be sayin' things that be jus' an' starboard. He be makin' th' most sense in th' long run


is that pirate?
  • #144,522
  • Sep 19, 2009 3:14am Sep 19, 2009 3:14am
Quoting mfoste1
is that pirate?
LOL, was thinking the same.
  • #144,523
  • Sep 19, 2009 3:26am Sep 19, 2009 3:26am
seeing some news may affect next week tradings ,http://www.arabia.msn.com/news/economy/Default.aspx
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #144,524
  • Sep 19, 2009 3:47am Sep 19, 2009 3:47am
Quoting M1g
LOL, was thinking the same.
http://www.forexfactory.com/showthread.php?t=197479
Not all sins are created equal
  • #144,525
  • Edited 4:33am Sep 19, 2009 4:00am | Edited 4:33am
Quoting malcolmb14
I do not post in this forum as I HATE...
Nice.
Funny you should say that about the EURO though, but that's how I feel about GU. Still this week trading the GU would probably have been more profitable for me. I must look into GJ though as I have little experience trading that pair and would check out your commentary on that thread.

Good point about the perception of Euro based currency being 2nd reserve. Just what I was thinking. That's why this pair has held up more than may otherwise be expected. Until the new reserve is chosen, or at least some agreement on which is the best candidate, then this perception would persist. Personally, I don't see it happening for a no. of reasons which you probably know anyway.

I too have been a student of VSA, one of the very first in fact, from the 'popular' VSA proponents (even have their software!!!!).
However, while I find theat analysis indespensable in stocks and stock indices, forex just doesn't play by the rules with it for me, except at a basic level, which I cannot trade without (at least for EURO that is, maybe your favourite pairs play by the rules with that).

The hanging man, I would prefer the long wick to be longer, and it would have been a stronger signal if it made a top too.
For that and my own analysis I am not expecting more than about 100-300 (Edited) pip drop. I think the 1000 pip set-up uis still to come. Still could be completely wrong.
The DX index, I'm with you on that, but see further weakness ahead after a retrace.

Visit here more often when you get over the fear of EURO. I shall do likewise with GU.
  • #144,526
  • Sep 19, 2009 4:09am Sep 19, 2009 4:09am
I'm looking at the daily and weekly chart (this is my job during week-end :-) ) and I have noticed something interesting on EURCHF... so if someone want to relax a bit from the USD, here the chart and some easy pips for the next week... :-) I'll took a short position under 1,5030 with TP 1,4700 SL 1,5210 TS 100pips

Good weekend!
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I'll send a bottle of wine to my first voucherer ;-)
  • #144,527
  • Sep 19, 2009 5:05am Sep 19, 2009 5:05am
hey ho hey ho a pirate's life it is
  • #144,528
  • Sep 19, 2009 6:15am Sep 19, 2009 6:15am
I always thought WAVE 5 was the shortest...



Quoting malcolmb14
Attachment

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In Charts We Trust!
  • #144,529
  • Sep 19, 2009 6:31am Sep 19, 2009 6:31am
Quoting richboy1972
I'm looking at the daily and weekly chart (this is my job during week-end :-) ) and I have noticed something interesting on EURCHF... so if someone want to relax a bit from the USD, here the chart and some easy pips for the next week... :-) I'll took a short position under 1,5030 with TP 1,4700 SL 1,5210 TS 100pips

Good weekend!

Sorry dude, can't see anything particular on that chart... And if you are alone seeing it, your in trouble with price action trading...
Can we get an explanation... And if you are trading weekly isn't 300 pips a bit small?
  • #144,530
  • Sep 19, 2009 6:57am Sep 19, 2009 6:57am
A devil wants to say , he rules the market
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Do not follow the path trodden by human laziness.
  • #144,531
  • Sep 19, 2009 7:11am Sep 19, 2009 7:11am
Quoting FiXed sense
A devil wants to say , he rules the market
Good one lol
  • #144,532
  • Sep 19, 2009 7:15am Sep 19, 2009 7:15am
Quoting richboy1972
I'm looking at the daily and weekly chart (this is my job during week-end :-) ) and I have noticed something interesting on EURCHF... so if someone want to relax a bit from the USD, here the chart and some easy pips for the next week... :-) I'll took a short position under 1,5030 with TP 1,4700 SL 1,5210 TS 100pips

Good weekend!
Shorting EURCHF below 1.51(especially at 1.5030) under current conditions is the worst trading idea ever. SNB is very very likely to intervene at 1.5000. Notice what EURCHF has been doing every time it hit 1.5000 after their first intervention in March? Read their recent monetary release. They are still going to be intervening in the currency markets. If EURCHF ever gets anywhere close to 1.5000 within the next month, I'm just going to put a buy with an SL at 1.4985.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #144,533
  • Sep 19, 2009 7:50am Sep 19, 2009 7:50am
Quoting Driver55
I can not imagine a serious retracement without first having made a violent upward spike.
Just how big a spike do you expect?
  • #144,534
  • Sep 19, 2009 7:50am Sep 19, 2009 7:50am
Quoting trading801
hey ho hey ho a pirate's life it is
Yep man ... Forex is our ocean!!
"I will walk before they make me run" K.Richards
  • #144,535
  • Sep 19, 2009 8:17am Sep 19, 2009 8:17am
I might be wrong, but why we should be expecting a spike if we aint going to sink yet?
Based on a daily chart we still got plenty of room to go up, after retracement to around 1.4580/50.

Elliot`s R.I.P but at least his theory is still alive


Quoting discohero
Just how big a spike do you expect?
Do not follow the path trodden by human laziness.
  • #144,536
  • Sep 19, 2009 8:51am Sep 19, 2009 8:51am
Quoting rahulkghosh
Shorting EURCHF below 1.51(especially at 1.5030) under current conditions is the worst trading idea ever. SNB is very very likely to intervene at 1.5000. Notice what EURCHF has been doing every time it hit 1.5000 after their first intervention in March? Read their recent monetary release. They are still going to be intervening in the currency markets. If EURCHF ever gets anywhere close to 1.5000 within the next month, I'm just going to put a buy with an SL at 1.4985.
My trading style is very simple... and b.bands are my main rule...
Now both daily and weekly are under the mid bb so I think we are going down...
Sure 1,5 is a big round number but we'll see....
Thanks for your opinion.
I'll send a bottle of wine to my first voucherer ;-)
  • #144,537
  • Sep 19, 2009 9:14am Sep 19, 2009 9:14am
Quoting Atlast
Nice.
Funny you should say that about the EURO though, but that's how I feel about GU. Still this week trading the GU would probably have been more profitable for me. I must look into GJ though as I have little experience trading that pair and would check out your commentary on that thread.

Good point about the perception of Euro based currency being 2nd reserve. Just what I was thinking. That's why this pair has held up more than may otherwise be expected. Until the new reserve is chosen, or at least some agreement on which is the best candidate,...
These are reasons why I moved to USDCAD for Dollar longs.
  • #144,538
  • Sep 19, 2009 9:32am Sep 19, 2009 9:32am
Quoting X.Oden
I always thought WAVE 5 was the shortest...
http://www.esignalcentral.com/univer...anual_ch10.pdf

give ratios if wave 5

in euro case wave 3 was a runaway wave went to 261 fe of wave 1,,

right now euro 60 min is under going abc correction . I would like to see LOW vol test 4767 indicating double top is in

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  • #144,539
  • Sep 19, 2009 10:01am Sep 19, 2009 10:01am
Quoting X.Oden
I always thought WAVE 5 was the shortest...
Wave 1 about 1290 pips size & from wave 4 1.3832 should be end of wave 5 1.5122 if wave 1=5 without any failure .now I think eu in wave iv to about 1.4447 max down . subsubwave i of subwave (3)=480. If no v /5th failure and if subwave (iii ) ) already reached at 1.4771 then ssw v /sw 3 be 1.4551(ssw iv 38.2 fib for strong uptrend) +480pips =1.5031 or if 1.4484 for 50% fib retracement =1.4964 or if in between 50& 61.8% fib /at the tip of ssw i 1.4447 =1.4927,prefer 1.4927 as v/end of (3) .
next (4) at 1.4350 & last (5)/end of 5 1.5122.
they are assumption , it can change altogether having different counts .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #144,540
  • Edited 11:24am Sep 19, 2009 10:24am | Edited 11:24am
IMF May Sell Gold to Help It Fund Lending
Published: Friday, 18 Sep 2009 | 6:16 PM ET

The International Monetary Fund's executive board on Friday was discussing selling some of the fund's gold to provide low-interest loans to poor countries and shore up its internal finances.

The move, authorized by the G-20 countries at their summit in London in April, has been long expected and discounted by commodity markets, where the price of gold has been rising amid fears of a weakening dollar and a resurgence of inflation.

The IMF is planning to sell about one-eighth of its gold, the equivalent of nearly 13 million ounces, worth roughly $13 billion at current market prices.

The IMF decision comes in advance of next week's G-20 summit in Pittsburgh, Pa., and the fund's annual meeting early next month in Istanbul.

http://www.cnbc.com/id/32919218

Another view http://www.zerohedge.com/article/imf...on-gold-market
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