yeah I read that too....reminds me of the crude $200/barrel prediction. These strategists also stay with the trend 
The only way to get smarter is by playing a smarter opponent.
- #13,503
- Oct 15, 2009 4:34am Oct 15, 2009 4:34am
yeah I read that too....reminds me of the crude $200/barrel prediction. These strategists also stay with the trend
Stoyan Mihaylov, analyst at Deltastock, comments: "A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated below the 50- and 200-day SMA, currently projected at 94.86 and 94.84. Current intraday bias is neutral, but is expected to transform into bullish with a break above 89.90."
http://www.fxstreet.com/news/forex-n...5-5b72bfe691d4
- #13,504
- Edited 5:01am Oct 15, 2009 4:58am | Edited 5:01am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
to llUkc,
.........for my Daily bias to become bullish i want to see price violate the 89.59 level...
Yesterday i wrote that on page 897 of this thread and as you can see... i have very specific points at which i become bullish on a pair... when that happens we only look to for trades from the long side.
and vice versa, we also have very specific price levels at which we become bearish on a pair.
but for today, we are looking at the USD/JPY pair and we are Bullish the very moment that price violated the 89.59 level yesterday, thus for today, longs rule the roost so no shorts will be entertained by my system.
- #13,505
- Oct 15, 2009 5:07am Oct 15, 2009 5:07am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
right now price is a bit overextended on the intra-day charts, so we'll wait for a retracement or dip before going long.
Here is my analysis:
Here is my analysis:
- Daily Trend is Down
- Daily Sentiment is Up
- hourly charts just became bullish
- 15min charts overextended...waiting for a retracement
- #13,506
- Oct 15, 2009 5:09am Oct 15, 2009 5:09am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
i think i'll wait for it around 89.80
- #13,507
- Oct 15, 2009 5:13am Oct 15, 2009 5:13am
i think i'll wait for it around 89.80
Well today i went short around 89.35 & then continued it at 89.65 & 89.90 but i am waiting for the retracement from the current level of 90.10 . If it breaks this level, i might consider changing my shorts into longs. Lets c!
- #13,509
- Oct 15, 2009 5:55am Oct 15, 2009 5:55am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Also, I think today's upward move has more to do with Yen's fall across the board rather than the dollars recovery. Yen has fallen sharply against majors so that caused U/J to jump above 90.00 I might be wrong though!
Hi Pak Tiger,
does it matter why the pair is rising or falling ??? i notice this phenomenon amongst most traders...the need to know, me ???...i don't need to know the reason why a pair is rising or falling, i only trade the price patterns on the charts, should someone inform me then that's ok, but what i'm trying to say is that it is not required nor essential information for me in order to trade successfully.
on another note: i am interested to know the reason or reasons why you went short, please.
- #13,510
- Oct 15, 2009 6:04am Oct 15, 2009 6:04am
Hi Pak Tiger,
does it matter why the pair is rising or falling ??? i notice this phenomenon amongst most traders...the need to know, me ???...i don't need to know the reason why a pair is rising or falling, i only trade the price patterns on the charts, should someone inform me then that's ok, but what i'm trying to say is that it is not required nor essential information for me in order to trade successfully.
[color=Blue]on another note: i am interested to know...
YOu are right sunshine!! If your trading is based on TA, you don't really need to know whats changing the price and keeping an eye on the news & fundamentals. My trading is also mostly based on TA, Price Action but i try to keep an eye on news as well which sometimes helps.
As for my positions with this pair, well i think i fell in the bearish trap when the market was confusing around 8930s. I was not convinced with the Dollar retracement upward at the Asian session so thats what prompted me to go short!! But still holding on to my shorts! Lets c!!
- #13,511
- Oct 15, 2009 6:07am Oct 15, 2009 6:07am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Pak Tiger,
i think i'll migrate over to the G/J, G/U, U/J Trading Thread as i see that this thread is a Discussion [as opposed to trading] of the USD/JPY, so see you.
i think i'll migrate over to the G/J, G/U, U/J Trading Thread as i see that this thread is a Discussion [as opposed to trading] of the USD/JPY, so see you.
- #13,512
- Oct 15, 2009 6:32am Oct 15, 2009 6:32am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Hi Pak Trader,
i tried to post there but i can't because it says i need 1 voucher in order to qualify to post,
so since no one knows my trading abilities or experience in order to vouch for me, i'll just start my own thread then where anyone will be able to post and share analysis and trades of actual real-time positions about any of:
i tried to post there but i can't because it says i need 1 voucher in order to qualify to post,
so since no one knows my trading abilities or experience in order to vouch for me, i'll just start my own thread then where anyone will be able to post and share analysis and trades of actual real-time positions about any of:
- GBP/USD,
- EUR/USD,
- EUR/JPY,
- GBP/JPY,
- USD/JPY,
- USD/CHF
- AUD/USD,
- OIL, WTI
- GOLD,
- SILVER,
Some days i trade the whole day, at other times i don't tradefor a day or two.
- #13,513
- Oct 15, 2009 6:41am Oct 15, 2009 6:41am
Hi Pak Trader,
i tried to post there but i can't because it says i need 1 voucher in order to qualify to post,
[list=1][*][b]GBP/USD,...
Sure! That will be great and I'll be there with you to post all my trades!!!
