trading801's Koala Forex Articles and EUR/USD views

Yes on month 6 trading Forex, I will try long term trades, right now I'm still learning, when I close too early I notice mins or hours later that it reach my TP, I made 60pips today, but was because I left a pending order at .4950 to TP .5010 SL .4930, I used the H4 Chart that some guys post on EU Thread, I made it myself on my PC too and watch where I want to open that long, they where expecting to reach .4940, I add an extra 10 =) it touch .4944, I was very happy this morning

Ok I swear and I'll pay your caution too ...
By chance you are not a pig at Dino Time ... Ok it's not easy to be a koala but take it with philosophy ...

I'm subscribed to your thread, so whenever you post anything new, I often check if there is any update on the thread

ah.. i experienced it before.. when you trade with money you cannot afford to lose, due to maybe too big size, no proper MM, you tend to make crazy decisions like close early and lose $$..

now, i really stick close to my MM plans that EVEN if it loss, it is just a bum and i move on..

i discover this helped me with many winning trades.. as more TPs are hit

but proper mm MUST be there

thanks Jm4x and Forex4

Latest EUR/USD Views 22 Oct 09 released at TheGeekKnows.com

EUR/USD at 1.5000



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you are 100% correct, you know whats my problem now, that I think every hour or every day I have to open a position, for example this week, until last night I made some money, before today I was -7pips for the week. I have to analyse the market better and as you said, trust my MM, by the way the lower SL is working great, the other day I close 2 shorts, I use a long term SL, by mistake, I accept my loss and don't keep them, I lost 100pips there, but no more, that was a difficult decision for me, but I made it, after that I almost recover everything, the good thing is that I am not trading more than .10lot per position.

wow

Go go 801 go… go Koala

I missed you yesterday but today I am glad when I see your thread.

I love your articles.

Do not worry; we have our proverbial that “Right, is taking”

My friend, I will stay always beside you.

note S&P 500 goes green

Thanks for the info, I close 2 of my longs, but reopen it again at 1.4999, put a SL at .4944 and a TP 1.5100, don't think my heart will wait until .5100 but lets see.. hehehehe, oh by the way $330 right now and keep coming the profits, your are the Good Luck Koala Don't know how much pips, because since this week I began opening positions with .05 lot so I think it should be more pips than US$

Watch for the gold too, its affecting this pair.

yes buddy .. sigh will u still take night shift here for news when i go off later ? masoud too


Latest EUR/USD Views 22 Oct 09 released at TheGeekKnows.com

EUR/USD at 1.5000



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Price loves to respect Pivots, S&R and channels.

This one is easy to follow.

I am here buddy, don't worry my friend.

Here an ascending triangle with a false breakout, rejection of Weekly R3.

You see that PA still respects the line.

In my opinion we are still in a strong up trend, only a breakout of the channel would give us a clue for a technical correction.

Once 1.5080 is broken we can have a real rally to 1.53 til 1.5350 (no strong historical S&R available in that zone) and in that point I'm expecting a real retrace in case that the US doesn't come up with news worse than they do daily.

Chinese GDP offers dollar reprieve

The dollar took its cue this morning from Chinese government data showing that perhaps the domestic economy is chugging along comfortably after the impact of its $586 billion in stimulus efforts. But markets, being what they are, have twisted today s bullish data into a risk-off recipe that allegedly draws attention to the role of the dollar as a safe haven. We re not sure we concur with this view, yet remain content to watch the dollar extend gains after being bashed about for several days now. There s still no containing the euro, which continues to display a bullish undertow at $1.4982 this morning.

The tonic for the U.S. dollar was engineered in a third quarter GDP report from China, which proved 8.9% growth. However, some are blaming a shortfall of a 9% reading as to why the commodity units are slumping today and why the dollar suddenly has a risk aversion attraction today. Yet with Wall Street still around a one-year high and the Vix gauge of investor anxiety at 22 and the price of crude oil just dipping also off a one-year peak at $80 a barrel it seems to us that a dollar retracement from earlier losses is a convenient excuse to state that risk aversion is back on form.

Investors poring over various Chinese data released overnight are in two mindsets. First, the data shows unambiguous domestic-led growth. Along side the GDP statistics was data for retail sales and industrial production for September. Both reports were strong and much of this flowing through to growth was a healthy production and sale of automobiles.

A separate Japanese report today showed that a previous dip in exports to China was largely stymied. September s export decline halved to China again largely bolstered by auto demand. Urban fixed-asset investment in China was one third greater than during the same quarter a year ago as a result of stimulus plans, which saw the pace of road and power plant construction picked up sharply. As a result of massive lending expansion, retail sales have also surged. The interesting take away from the report is that net exports actually detracted by around 3.6% from the report, which effectively under whelms 4% consumption growth and a 7.3% jump in investment spending.

Investors are now turning cautious because they fear that stimulus might be withdrawn and there is the additional risk that effectively tighter conditions might at best create a plateau in demand and at worst see demand actually decline. For now investors are cringing at the prospect that removal of the training wheels will end in a sorry end. We re less convinced than the market on that front.

As a result of this the Australian and New Zealand dollars drop today makes a midweek multi-quarter high against the dollar look like a fading memory. Yet with energy, grain and metals prices pushing ever-higher we have to contribute today s move to profit taking.

Interactive Brokers.

Very Nice Mr. Cobra.

Afternoon Forex Market Session Overview

Previous session overviewThe dollar was slightly stronger against the euro in morning New York trading Thursday, as sagging global stocks sapped some of the risk appetite that sent the euro past USD1.50 a day earlier.

After falling to fresh 14-month lows against the euro on Wednesday, the dollar gained overnight on disappointing Chinese growth data, which bolstered the greenback's appeal.

The Dollar Index, a trade-weighted basket of six currencies, was at 75.375 from 75.172 late Wednesday. It had dropped to its lowest level Wednesday since August 2008.

Labor market data published Thursday helped remind investors that the recovery remains fragile: U.S. weekly jobless claims increased by 11,000 in the week ended Oct. 17; economists had expected a smaller increase of 4,000.

EURUSD is bouncing between gaining and losing on the day. After dropping below day-earlier levels, the pair has now broken USD1.50, and is now little changed from late Wed. EURUSD was at USD1.5004 from USD1.4998 late Wed.


Market expectation

The dollar's performance against the euro during the session will depend on the stock market: U.S. stocks are set for a slightly lower open, and if U.S. stocks follow the earlier downward path of Asian and European equities, the euro is likely to have trouble resuming its march past USD1.50.

Dukascopy.

Cobra I think you mean 1.5080, right?