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  • #159,241
  • Nov 5, 2009 8:30am Nov 5, 2009 8:30am
Quoting cannarek
it is very wise question. and I cant answer in one word/sentence. I just watch the chart, when it reacts to my lines/areas, when I can see hammer candles, other formations, when I can see the price bouncing adn etc - this is nice price action. when I see the price goes through my line like a tank - it is bad price action, I will be looking for bouncing on the other side and so on. I just try to SEE when and WHERE money are pushed to the market, that's all.
I'm curious then about how you evaluate the last two days on that standard.
  • #159,242
  • Nov 5, 2009 8:37am Nov 5, 2009 8:37am
Quoting lenl
this may be a dumb question but how do you determine good price action?
Thanks.
I put a case study on my blog. read it if you wish maybe can help to understand what the price actionis for me.
  • #159,243
  • Nov 5, 2009 8:47am Nov 5, 2009 8:47am
Quoting vinesh2
Fontu I was talking about oil, gold in correlation with dollar no just EU/USD
ok , have no dollar chart to compare but now I see other place that they move just opposit direction and so this correlation exist & working . if loose then should take same direction perhaps .Both up or down.
Thanks ,
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #159,244
  • Nov 5, 2009 9:00am Nov 5, 2009 9:00am
wow fast drop for EUR?
  • #159,245
  • Nov 5, 2009 9:10am Nov 5, 2009 9:10am
it just doesnt want to head down
I am both right and wrong, what's important is the amount of $$$ in my bank
  • #159,246
  • Nov 5, 2009 9:11am Nov 5, 2009 9:11am
buy eur ? is this a good idea right now?
  • #159,247
  • Nov 5, 2009 9:13am Nov 5, 2009 9:13am
Quoting peyman
wow fast drop for EUR?
And lots of pips collected on the way down . Now I have a buy stop if it bounces from the 61.8 fib level.

It's strong resistance by the way as it is also the bigger fib's 23.6
  • #159,248
  • Nov 5, 2009 9:14am Nov 5, 2009 9:14am
Quoting peyman
buy eur ? is this a good idea right now?
Looks like a double top in 1hr chart reversal pattern maybe...
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  • #159,249
  • Nov 5, 2009 9:25am Nov 5, 2009 9:25am
Quoting NightMoves
Looks like a double top in 1hr chart reversal pattern maybe...
I tend to agree that the long term uptrend is dominant. It's fundamental data that makes this clear, and so is the daily chart. But you never know, I've learned the hard way that you should never trust your 'expectations' in forex.
  • #159,250
  • Nov 5, 2009 9:25am Nov 5, 2009 9:25am
hi

1.4803 is very important level.

if it breaks it will dropping to 1.4767 and .............

any comments?

regards
  • #159,251
  • Nov 5, 2009 9:26am Nov 5, 2009 9:26am
1.4842 back again as one strong sr , waiting it break successfully for a good fall. should take some time .Anyway shorts doing well , slow but steadily .

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #159,252
  • Nov 5, 2009 9:29am Nov 5, 2009 9:29am
Quoting investor_me
I tend to agree that the long term uptrend is dominant. It's fundamental data that makes this clear, and so is the daily chart. But you never know, I've learned the hard way that you should never trust your 'expectations' in forex.
Yep I learned the same way, the dialy chart is uptrending but these corrections along the way can beat a guy up pretty good if your not careful.
  • #159,253
  • Nov 5, 2009 9:32am Nov 5, 2009 9:32am
Quoting FX-Petra
Yes, there will be interventions to stop the dollar decline... but it will not matter from a long term perspecitve. If the US wants a weaker dollar, it is going to happen. There may be some give and take and heart attacks along the way.... but on this they cannot be opposed. In the end, China's only threat is to stop buying US debt... and this would crash the paper they are already holding. At some point in the future, the US economy will boom again, the US will impose some physcal discipline, and the dollar will roar back. But not today, next week,...
i dont care about gold it dont grease the machine it does what it does and dont affect machinery. big deal india bought gold.. less then a days worth of oil sales. on the other hand there is a moving target on a higher eu. the target is up.. but atm that target is corelated with oil. and if we get to 82 plus oil it will quickly fall shortly after... markets cant hande 82/85 oil atm .. in a month or year this may change but not today. it will kill stock market around the world and eu with it. all you future outlooks of earnings in stock markets are based on oil being lower, but their are exceptions like rail ect. (thats why buffet bought them) but oil is in everthing from widjet package to shipping of widjet. to the widjet makers transportation to and from work. we cant move to fast.. if we do the bottom is closer to the ground this time at 1.5 then it was at 1.6... and economys are much weaker.. oil was 23 bucks in this decade and today over 3 times that amount. we are at double last years low.. a 50% number. a pullback would be normal..

caterpillar laid off.. im not concerned about the cats jobs. but if you understand what caterpillar is in the mining industy. it doenst look good for commoditys. you dont layoff in a commodity boom..
those who can, do. those who cant, talk about those who can
  • #159,254
  • Nov 5, 2009 9:48am Nov 5, 2009 9:48am
Quoting NightMoves
can beat a guy up pretty good if your not careful.
Indeed. High lot sizes is what destroyed my account once as I was reckless . It took a long time to pay my debts after the last margin call some time ago
  • #159,255
  • Nov 5, 2009 9:55am Nov 5, 2009 9:55am
Quoting investor_me
Indeed. High lot sizes is what destroyed my account once as I was reckless . It took a long time to pay my debts after the last margin call some time ago
It can happen for sure, I am pretty cautious maybe overly cautious, but I am still trading after almost 5 years of it and with the same money I opened it with when I started. One has to be very careful and only take the High probability trades and never guess and just reandomely jump in because it is headed one way or the other. As they say the secret to life longevity is...Keep Breathing...
  • #159,256
  • Nov 5, 2009 10:01am Nov 5, 2009 10:01am
I am still looking at these numbers

156628
151453
  • #159,257
  • Nov 5, 2009 10:03am Nov 5, 2009 10:03am
Is it the begining of separation betwen DOW and EU? EU Doesn't want to follow exactly DOW today!
No Signal, No Trade. No fundamenals, No headache.
  • #159,258
  • Nov 5, 2009 10:09am Nov 5, 2009 10:09am
Yes EU is not making any significant moves with equities on a tear. Its probably YANKEES fever. I noted on my previous post about the decorrelation
  • #159,259
  • Nov 5, 2009 10:10am Nov 5, 2009 10:10am
Quoting investor_me
Indeed. High lot sizes is what destroyed my account once as I was reckless . It took a long time to pay my debts after the last margin call some time ago
I think one thing you learn pretty quickly is that you need to go slow and keep things small.
  • #159,260
  • Nov 5, 2009 10:23am Nov 5, 2009 10:23am
1.48430 seems to be an important level as the price can't stop itself flirting with it. Previously price has bounced up or down off it. (esp. since 13 September)
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