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  • #5,601
  • Sep 22, 2009 8:26pm Sep 22, 2009 8:26pm
Quoting Dabestone
Note that Blackeagle, thanks. Am still figuring out what does DSRI mean though. Strat said that I will understand it once I finished reading the thread from the beginning. Am working on it

From what I see on the chart that you posted, price is currently approaching back to a broken ascending trendline on the daily. And that might be a support turn resistance trendline. Maybe that's what you mean by DSRI adnd we should pay attention to PA in this area?Hehe.. not sure but guess I will figure this out sooner or later.

Cheers.

Sean
You're killing me, I can't stand it any longer!

DSRI = Dynamic Support & Resistance Indicator

Our S&R lines are STATIC - they stay there for the life of the pair.

DSRI lines are DYNAMIC - they change as the demand (S) and supply (R) changes.

There is a more current DSRI on Blackeagle's chart if you can find where to draw it, it may help to identify where the next demand is.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,602
  • Sep 22, 2009 9:03pm Sep 22, 2009 9:03pm
Quoting Alexandra
I believe FXDD, FxPro, and the new FXCM programs use the standard NY close. It's a reasonable idea given the importance of the closing price on this thead, though if your weekly analysis is solid, one can put up with some variance on the smaller time frames. You'd be suprised how simple the charting patforms are for many large lot, professional traders.

I like to use FxPro, they close at NY close and you dont have to keep renewing your demo account once a month. Which can be pretty frustrating when it happens while you have trades on!

As strat will say though great looking candles will show up on many different brokers and that it all evens out in the end so trade what you see!

I do like The NY close idea though.
  • #5,603
  • Sep 23, 2009 1:53am Sep 23, 2009 1:53am
Another chart quite similiar to EURJPY's. BUOB on the weekly chart. It's in an area worth paying attention to ?
Attached Image (click to enlarge)
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Discipline is PRIMARY, Method is Secondary.....
  • #5,604
  • Sep 23, 2009 3:55am Sep 23, 2009 3:55am
Quoting Dabestone
Hi Alex, thanks for the kind feedback.

So, overall what standard closing time does team strat use here? Or what broker would u recommend me to look into for having that standard closing time?

Am really loving this thread, going through the thread from the beginning and seeing how the team grows and improves in trading makes me really determine to stick with strat's way of trading! FORGET ABOUT 4HR . If switching to the standard closing time is really important, then I will do it.

Thanks again :d
Dabestone - I use FXPro for my daily feed as their bars change over at 2200 UK time and that coincides with the NY close - I find it's better to check the charts at 2200-2230 rather than be tired and stay up unitl 0001 and then get up knackered at 0600!!

I do, however have ODL as my 'back-up' feed incase of connection issues with FXPro etc
Trade less and become more profitable!
  • #5,605
  • Sep 23, 2009 4:27am Sep 23, 2009 4:27am
Quoting Dabestone
Another chart quite similiar to EURJPY's. BUOB on the weekly chart. It's in an area worth paying attention to ?
Also check out CAD/JPY weekly bounce off lower trend line.
  • #5,606
  • Sep 23, 2009 4:35am Sep 23, 2009 4:35am
Quoting CrudeCraig
I like to use FxPro, they close at NY close and you dont have to keep renewing your demo account once a month. Which can be pretty frustrating when it happens while you have trades on!

As strat will say though great looking candles will show up on many different brokers and that it all evens out in the end so trade what you see!

I do like The NY close idea though.

I had some difficulties with FXPro on MT4 because they are based in Cyprus & their start times are approx GMT +4 hours. I found Alpari to be a closer relation to market PA rather than the broker-based figures. I am also trying out ICM on another computer, but I have found that my indicators are more accurate on Alpari.

Having said that I know of some excellent traders who use FXPro.

You just have to experiment.

Depending upon your platform & indicators, you should be able to change these.
  • #5,607
  • Sep 23, 2009 4:59am Sep 23, 2009 4:59am
Quoting strat
Bring back the SG and Black Sabbath! – but, please, not those Jonas wimps!
I still love that shape – might have to get one to play some modern music like Black Sabbath.

“ttfn” – Bloody hell, Jimmy Young used that in the last century – is this “new” again?
Strat, SG - 1970s Zappa, Holdsworth (Soft Machine, Bruford, UK) & McLaughlin with double neck, but Iommi etc too heavy for my tastes.

I knew you would remember TTFN. I thought it appropriate in view of the secret acronym language on this thread! Dont worry, its not a phrase thats back in fashion except its used by us older gits.
  • #5,608
  • Sep 23, 2009 5:11am Sep 23, 2009 5:11am
For the correlation lovers, latest bank reports show that the historical usdyen / SPX correlation has broken down and that audyen is now the most closely correlated with the SPX. Just for those wishing to trade that pair!
Trade less and become more profitable!
  • #5,609
  • Sep 23, 2009 5:15am Sep 23, 2009 5:15am
Quoting Alexandra
You'd be suprised how simple the charting patforms are for many large lot, professional traders.
You included Alexandra
Trade less and become more profitable!
  • #5,610
  • Sep 23, 2009 5:59am Sep 23, 2009 5:59am
Quoting otm
Also check out CAD/JPY weekly bounce off lower trend line.
Off and running, not much resistance in the way for a nice run if it breaks the trend line.
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  • #5,611
  • Sep 23, 2009 7:51am Sep 23, 2009 7:51am
Quoting otm
Off and running, not much resistance in the way for a nice run if it breaks the trend line.
I think you must be posting on the wrong thread - this is an INDICATOR FREE thread where we ONLY use PRICE ACTION.

If, however, you have found some remarkable way to use indicators to foretell future price action, then please share with us how to use them. If not, please kindly take your useless, lagging, lying wiggly lines over to those threads who rely on indicators.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,612
  • Sep 23, 2009 7:57am Sep 23, 2009 7:57am
Quoting Dabestone
Another chart quite similiar to EURJPY's. BUOB on the weekly chart. It's in an area worth paying attention to ?
Always, ALWAYS pay attention to the BOSS!

Always do what she tells you - just like the Worker does.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,613
  • Sep 23, 2009 8:01am Sep 23, 2009 8:01am
Quoting Barry Cade
Strat, SG - 1970s Zappa, Holdsworth (Soft Machine, Bruford, UK) & McLaughlin with double neck, but Iommi etc too heavy for my tastes.

I knew you would remember TTFN. I thought it appropriate in view of the secret acronym language on this thread! Dont worry, its not a phrase thats back in fashion except its used by us older gits.
""secret acronym language on this thread!""

It's not meant to be "secret", rather to encourage lurkers and lazy sods to READ THE THREAD!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,614
  • Sep 23, 2009 8:59am Sep 23, 2009 8:59am
Quoting strat
""secret acronym language on this thread!""

It's not meant to be "secret", rather to encourage lurkers and lazy sods to READ THE THREAD!
Now I know the other use of guitar feedback. Different sounds & words too. Ouch! Thank you Strat. Now keep your hand away from the whammy.

Zombie. BTW they reformed recently for some gigs.
  • #5,615
  • Sep 23, 2009 10:27am Sep 23, 2009 10:27am
Quoting strat
EPL - now you've got me going! Right - daggers drawn!

At least they are fit, skillfull athletes where midfielders run about 8 to 9 miles during a non stop action, 90 minute football game.

Compare that to a bunch of steroid using wankers dressed in tights and armour attempting to play a pathetic substitute for rugby in a game that lasts 41/2 hours with only about 20 minutes real playing time that has two teams per team because neither are talented enough to do double duties who need oxygen and a rest if they run the length of their field, in the...
hi, sorry to butt in but while i read through the pages of this top class thread, i had a great laugh at this post. seeyou in a week or three once i finsh reading every page
  • #5,616
  • Sep 23, 2009 10:35am Sep 23, 2009 10:35am

Nice thread !!!
  • #5,617
  • Sep 23, 2009 10:59am Sep 23, 2009 10:59am
Fed Meets Amid Signs of Stabilization
The Federal Reserve Open Market Committee is scheduled to make an announcement regarding the near-term direction of monetary policy at 2:15 PM ET following the end of its 2-day monetary policy committee meeting. Economic data released during the inter-meeting period has continued to suggest improvement, with the latest manufacturing and housing reports coming in better than expected, while inflation data has shown that inflationary pressures remain subdued. While acknowledging these developments, the Fed is likely to reiterate in its post-meeting policy statement that rates will be kept at exceptionally low levels for an extended period.
The FOMC may also announce the updated Fed forecasts, which are mostly likely to have been nudged up to reflect recent positive data. Danske Bank expects GDP to grow 4.6% quarter-over-quarter in the fourth quarter and 4% in the first quarter of 2010. Following this, the firm expects a moderation in growth in mid-2010.
With green shoots sprouting, the Fed's next preoccupation is likely to be on exit strategies. The central bank has to wind down its liquidity programs, which many expect will happen automatically as conditions in the money market normalize. The liquidity programs that are in place now are scheduled to run through March or June 2010. Thereafter, the Fed has to tighten outright either in terms of selling back mortgage backed securities, agency or treasury securities or by increasing the fed funds target rate and the interest paid on excess reserves.
At its August meeting, the FOMC decided along the expected lines and maintained the fed funds rate unchanged. In its post-meeting policy statement, the Fed noted that economic activity is leveling out, an improvement from its previous opinion that the pace of contraction is slowing. There weren't any major changes to the references the committee made towards other measures.
Regarding its Treasury securities purchasing program, the central bank said the committee would gradually slow the pace of these transactions. The central bank anticipates the full amount of $300 billion to be purchased by the end of October. The FOMC reiterated its commitment to retain interest rates at exceptionally low levels for an extended period.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,618
  • Sep 23, 2009 11:03am Sep 23, 2009 11:03am
Especially for our Nicola:

Crude oil futures are slipping $0.45 to $71.31 a barrel after the November futures ended Tuesday's session up $1.83 at $71.76 a barrel. The API inventory report released Tuesday after the markets closed showed that crude oil stockpiles rose by 276,000 barrels per day in the week ended September 18th. Gasoline stockpiles rose by 3.8 million barrels, while distillate fuel inventories declined by 1.9 million barrels. Following the release of the report, oil was trading weaker in Asian.
After rising $11.60 to $1,015.50 an ounce in the previous session, gold futures are easing $1.50 to $1,014 an ounce.
The sustainability of the firmer demand for commodities that was witnessed for most of August depends on whether demand from China can keep ticking, the global economy can continue to relay optimism about growth and the production curtailment put in place earlier is adhered to.
On the currency front, the U.S. dollar is trading at 91.327 yen compared to the 91.1035 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is currently valued at $1.4780 compared.

Crude oil stockpiles fell by 4.7 million barrels to 332.8 million barrels in the week ended September 11th, although inventories remained above the upper limit of the average range.
Gasoline stockpiles rose by 0.5 million barrels and remained near the upper limit of the average range, while distillate inventories increased by 2.2 million barrels. Stockpiles of distillate fuels remained above the upper boundary of the average range. Refinery capacity averaged 86.3% over the four weeks ended September 11th compared to 85.6% in the previous week.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,619
  • Sep 23, 2009 11:17am Sep 23, 2009 11:17am
US Crude today breached a support line it has held since the Feb lows.
It will be interesting to see if it continues ... candle not closed yet.
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  • #5,620
  • Sep 23, 2009 11:47am Sep 23, 2009 11:47am
What is it that Dr Joe says again ... it keeps going up (or down) until?

Ladies and Gentlemen I present to you ... EURNZD
395 to go to the big round 2.0000 number
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