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  • #179,761
  • Jan 11, 2010 8:54pm Jan 11, 2010 8:54pm
Quoting gatorinla
maybe they like cheap commodities and a strong usd. this would actualy help them and there u.s. holdings.
good point. as long as they keep the yuan pegged to the dollar they need it to be strong to sustain their economies need for resources.

i love forex. endless ways of interpreting what is happening.
  • #179,762
  • Jan 11, 2010 8:57pm Jan 11, 2010 8:57pm
Closed long 26 pips Scalping..See u european session
  • #179,763
  • Jan 11, 2010 8:59pm Jan 11, 2010 8:59pm
wat was the spike up 30 pips in long caused by?
  • #179,764
  • Jan 11, 2010 9:03pm Jan 11, 2010 9:03pm
Just rebounding from that drop earlier I think, but was long four big ones so I'll take it
  • #179,765
  • Jan 11, 2010 9:04pm Jan 11, 2010 9:04pm
Quoting jaylovin
hi there from a newbie.. may i ask how you come to the conclusion that the fib retracement will hit 23.6 or 38.2 and not fall beyond? Many thanks.. my fib retracement also hits 4480 at 23.6
The basic reason are trendlines. Its a bit complex to explain, but here is a summary:

The basic reason that it wont go beyond 38.2 is that there are no trendlines support for it at that level. If it goes beyond 38.2 (ie 4457) then it will go all the way to 4302 and beyond. It will drop like a jack hammer. As for why I draw the trendlines this way, its part of my own system of trendlines. The middle trendline will tell you about the desire of the movement to go up or down. Its the deciding factor. In this case we should be out by 4520 just to collect some profits and then we have a second target of 4560 followed by 4680 as third target, but hitting those targets depends if support forms at 4520-4530. If it doesnt then get out at 100% of your positions.
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  • #179,766
  • Jan 11, 2010 9:06pm Jan 11, 2010 9:06pm
Quoting Protogenos
Just rebounding from that drop earlier I think, but was long four big ones so I'll take it
What does four big ones mean
  • #179,767
  • Jan 11, 2010 9:09pm Jan 11, 2010 9:09pm
Quoting Kambooj
The basic reason are trendlines. Its a bit complex to explain, but here is a summary:

The basic reason that it wont go beyond 38.2 is that there are no trendlines support for it at that level. If it goes beyond 38.2 (ie 4457) then it will go all the way to 4302 and beyond. It will drop like a jack hammer. As for why I draw the trendlines this way, its part of my own system of trendlines. The middle trendline will tell you about the desire of the movement to go up or down. Its the deciding factor. In this case we should be out by 4520 just to collect...
were gonna get a lower attempt in the next few min..as for as what i c
those who can, do. those who cant, talk about those who can
  • #179,768
  • Jan 11, 2010 9:11pm Jan 11, 2010 9:11pm
Quoting live4pips
What does four big ones mean
4 lots (400,000 units)
  • #179,769
  • Jan 11, 2010 9:13pm Jan 11, 2010 9:13pm
Quoting Protogenos
4 lots (400,000 units)
Wow! Cool deal that is some Good job
  • #179,770
  • Jan 11, 2010 9:18pm Jan 11, 2010 9:18pm
Quoting live4pips
Wow! Cool deal that is some Good job
Well it's a good amount for me, but probably nothing for a lot of traders. Thx tho
  • #179,771
  • Jan 11, 2010 9:19pm Jan 11, 2010 9:19pm
Quoting gatorinla
were gonna get a lower attempt in the next few min..as for as what i c

What you might see too is a small rising caterpillar like motion being built between 4450 and 4520 with lots of 61.8 retracement. If there is no caterpillar hugging the middle line in the next hour or so, we are going more down.
  • #179,772
  • Jan 11, 2010 9:28pm Jan 11, 2010 9:28pm
Quoting Kambooj
What you might see too is a small rising caterpillar like motion being built between 4450 and 4520 with lots of 61.8 retracement. If there is no caterpillar hugging the middle line in the next hour or so, we are going more down.
nope.. i c usdx hitting bottom..
those who can, do. those who cant, talk about those who can
  • #179,773
  • Jan 11, 2010 9:35pm Jan 11, 2010 9:35pm
Scalping short again target 1.4460
  • #179,774
  • Jan 11, 2010 9:36pm Jan 11, 2010 9:36pm
Quoting Blacknightz
wat was the spike up 30 pips in long caused by?
I'm wondering the same thing. I'm seeing double tops and double bottoms on almost every USD pairing. What news did I miss?

The downward spike triggered my pending short, (which happened to be near the bottome of the spike...ouch, wrong spot!) I estimated it would be triggered some time tomorrow, so this took me by surprise. Luckily I happened to turn the computer on right at that moment to manage the trade. I was in the red for a while, but it eventually worked its way back to BE, and I just closed it out. Just had a bad feeling...and what do you know, it went back up 30+ pips. Glad I got the hell out of it.
  • #179,775
  • Jan 11, 2010 9:38pm Jan 11, 2010 9:38pm
Hey everyone, does anyone know which broker has a nice USDx chart, preferably in MT4?
Thanks
  • #179,776
  • Jan 11, 2010 9:40pm Jan 11, 2010 9:40pm
Quoting gatorinla
nope.. i c usdx hitting bottom..


but gator... the 1hr chart' bollinger band is not even budging! i think it is going to retrace back up for some time before heading back down,,,
  • #179,777
  • Jan 11, 2010 9:47pm Jan 11, 2010 9:47pm
Quoting gulzaar
Hey everyone, does anyone know which broker has a nice USDx chart, preferably in MT4?
Thanks
I'm preffer to use USDx & other currency X using liteforex broker.. & it is MT4.. but I'm not trade using that broker..
  • #179,778
  • Jan 11, 2010 9:48pm Jan 11, 2010 9:48pm
Asian Stocks Fall, Dollar Rises on China Rate, Earnings Concern
By Sandy Hendry and Shani Raja



Jan. 12 (Bloomberg) -- Asian stocks fell for the first time in three days and the dollar gained against higher-yielding currencies after China guided its benchmark money-market rate higher and Alcoa Inc.’s profits missed analyst estimates.

The dollar strengthened 0.2 percent to $1.4488 per euro. Australia’s dollar dropped to 92.69 U.S. cents from 92.96 cents weakened after a government report showed home-loan approvals dropped 5.6 percent in November, the most in 18 months.

Gold traded little changed at $1,154.15 an ounce at 9:49 a.m. in Singapore after falling as much as 0.3 percent. The metal touched an all-time high of $1,226.56 on Dec. 3. Copper advanced for a second day, gaining as much as 0.4 percent to $7,595 a ton before trading at $7,569.50 in Singapore.

Last Updated: January 11, 2010 22:20 EST
{Promotion Removed}
  • #179,779
  • Jan 11, 2010 9:52pm Jan 11, 2010 9:52pm
.4450's tough wall. If broken we'll probably see a test of lower trendline around .4270's
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  • #179,780
  • Jan 11, 2010 9:54pm Jan 11, 2010 9:54pm
Quoting gatorinla
were gonna get a lower attempt in the next few min..as for as what i c
Hi Gator,

What was that based on? Do ass charts give you time frames too or just levels and this was based on something else? Thanks!

Mike
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