EURUSD

any advice for the NFP time...?

dont touch your trade button for the first 10 minutes of the release.. heh

rsx 14 setting versus rsi 14 setting

see how rsx shows the bear div on weekly dj clearly (btw last time i saw this was 14400) , rsi does not show this clearly at all

but being that you seemed to already be in one You could do what you said, or what I said earlier. Either will work. for the record, I hedge instead of sl.

I wont ask why, cous I would like to figure it out myself tomorrow. thanks!

Umm, unless you have lightning fast hand-eye coordination and have access to a news site quicker then FF, I would say trade a few minutes after the report. Don't chase the spike or you'll find yourself at the top (or bottom) which is the worst place to enter. You should know after what happened to you the other night!

do u mind to share and post your templates,indicators here? thanks!

Last night I placed sell stop and it did not work like it should, I had a little chat with them and they said that they will check database and return the lost amount if it was they`r failure! But yes I will wait probably for a new 5M candle to open and than place an order! thanks!

Very cool. I think I'll go hunt down the formula and whip me up an indy....

One way to play it is to watch the M15 chart. When it closes the first 15min bar after the release, place a stop order a couple pips below/above the low/high. Usually it moves in the real direction 15 - 20 minutes after the release.

European Central Bank President Jean-Claude Trichet delivered an impassioned defense of Europe's common currency as the market continued to cast doubt on the ability of Greece and other debt-ridden euro-zone countries to get their deficits under control.

Mr. Trichet's remarks came as worries spread through financial markets that Greece's fiscal woes will extend to other countries including Portugal and Spain. The cost of insuring the sovereign debt of those countries against default soared Thursday, putting downward pressure on the euro. Leading stock indexes in those countries also tumbled.
Throughout the day, investors fled currencies and markets that are seen as taking the biggest hit should debt troubles in Greece or elsewhere lead to a full-blown crisis.
The ECB president, in an uncharacteristically feisty appearance at the bank's monthly news conference, emphasized that despite the fiscal woes in some member states, the average budget deficit for the euro zone as a whole, at 6% of gross domestic product, is well below the double-digit gaps in the U.S. and Japan.
"It is not necessarily very well-known the kind of solidity" that the euro zone has, Mr. Trichet said.
The problems in Greece and other euro-zone countries with large deficits have prompted some economists to question the long-term viability of Europe's common currency. Mr. Trichet, who in the past has called similar speculation "absurd," nonetheless sought to counter doubts about the euro by highlighting the advantages of membership.
Mr. Trichet also reiterated warnings to Greece and other large-deficit countries in Europe that they will get no leeway when it comes to meeting their ambitious deficit-reduction promises.
"We always have been inflexible in our support of the stability and growth pact," said Mr. Trichet, referring to the agreement that regulates euro-zone membership.
The stability and growth pact requires euro-zone members to keep budget deficits below 3% of their gross domestic product. However, a number of the region's once fast-growing economies in Southern Europe and Ireland are running double-digit deficits as a share of GDP. The most troubled country in the eyes of investors and rating agencies, Greece, has pledged to bring its deficit of almost 13% of GDP to less than 3% by just 2012.
"I haven't heard any other leaders be so strongly pro-European, calling on member states to stick to rules but more or less promoting the European idea," said Carsten Brzeski, economist at ING Bank in Brussels.
In doing so, Mr. Trichet "strengthened the ECB's position as the guardian of the euro and monetary union," Mr. Brzeski said.
The European Commission accepted Greece's fiscal plans Wednesday, but warned more spending cuts and tax increases may be needed.
The ECB's economic and inflation assessment was little changed from January, suggesting that interest rates will remain at current levels until the end of the year or even into 2011. The central bank left its key lending rate unchanged at 1%, as expected.
Inflation is expected to "remain moderate," Mr. Trichet said, and though the economy should continue on a moderate recovery path this year, it "could be uneven" as the stimulus from inventory replenishing and government support wears off.
The euro zone exited recession in the third quarter, though it expanded by just 1.5%, at an annualized rate. It is expected to have grown again in the fourth quarter -- GDP figures are released next week. But the pace of expansion will be quite modest, economists warn, as the region's largest economy, Germany, appears to have stalled in the final three months of the year.
German manufacturing orders unexpectedly plunged 2.3% in December from November, the economics ministry said Thursday. "There is no broad-based strengthening in demand to fuel the recovery" in both Germany and the euro zone, said Societe Generale economist Olivier Gasnier, in a note to clients.

I use esignal

alot of the thing you see on the charts are paid for on a 6 month basis like the jurik tool set and linked to user name / password

the hma is almost same as jma ( moving average)

there is a better volume indicator in the vsa thread i am active in

That's a good idea.

Oh, come on. Of course I loose... I have a ratio of 78:22 winners:loosers, but still I loose. And do not take for granted that my winners come anywhere close to 100 pips, for I am a real coward as soon as something turns even shortly.

I'm listening.

Look at this guys
all the traders are toeing the R line
amazing to see market forces in action,

Ok everybody I will take 2 hour nap, cous it is 7.40 in the morning in Latvia and I have been studying charts and techniques for 20 hours now. Later!

P.s. thank you again for your help and information...!

Daily Market Scenario - Friday 05 February 2010 (Setup -- Rolling 24-hour rates)

updated at 00:00 CET -- Rollover Setup -- calculated at 23:15 CET (every day)



EUR-USD *


close/clôture * 1.3722 *


Elliott : extended impulse wave down 1.3638


Scenario for today


Supports at 1.3680 / 73 or 1.3662 - 1.3639 should hold the downside for a correction towards 1.3812 or even to above 1.3843 zone ...


USD-CHF *


close/clôture * 1.0670 *


Elliott : elongated flat correction up 1.0733


Scenario for today


Currently uptrend should end around 1.0737 - 1.0794 area. A correction down towards 1.0642 or to below 1.0608 is expected. A confirmation by H4 close/clôture above 1.0737 would abort/dampen this expected correction ...




GBP-USD *


close/clôture * 1.5754 *


Elliott : extension wave down 1.5664


Scenario for today


Support at 1.5731 / 22 or 1.5684 should hold the downside for a correction towards 1.5801 - 1.5834 or even to above 1.5872 zone ...


USD-JPY *


close/clôture * 89.03 *


Elliott : extension wave down 88.15


Scenario for today


Market should not go lower than 88.85 / 79 - 88.55 or 88.25 - 88.03. After this move down it should cross above 89.79 - 89.92 go up to 90.05 / 11 - 90.55 area ...




USD-CAD *


close/clôture * 1.0743 *


Elliott : elongated flat correction up 1.0829


Scenario for today


Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0755 - 1.0798 or 1.0802 - 1.0823 if support around 1.0698 may hold. After which a pullback to 1.0698 - 1.0671 zone is possible again ...




NZD-USD *


close/clôture * 0.6873 *


Elliott : extended impulse wave down 0.6803


Scenario for today


Current fall is near an end of wave around 0.6803 zone. A rally should then procede from that area to above 0.6985. Break of below 0.6732 would cancel this scenario ...




AUD-USD *


close/clôture * 0.8646 *


Elliott : extended impulse wave down 0.8552


Scenario for today


Market should reverse above 0.8559 and not go lower than 0.8523. After this move down it should go up to 0.8706 - 0.8737 or 0.8781 area ...




EUR-JPY *


close/clôture * 122.17 *


Elliott : resistance in an elongated correction 123.63


Scenario for today


Market should not go lower than 121.87 / 121.57 - 120.34. After this move down it should go up to 123.78 - 124.25 / 60 or 125.10 - 125.24 area ...




EUR-CHF *


close/clôture * 1.4641 *


Elliott : elongated flat correction down 1.4563


Scenario for today


Market should not go lower than 1.4608 or 1.4584 - 1.4563. After this move down it should go up towards 1.4697 - 1.4750 or even to above 1.4788 area ...




EUR-GBP *


close/clôture * 0.8710 *


Elliott : flat correction down 0.8666


Scenario for today


There is bearish potential for a fall to 0.8691 - 0.8677 while 0.8718 / 24 - 0.8734 may resist. After this fall a recovery up to 0.8735 or 0.8744 is expected ...





Good Luck ! ! !




;-)




Cheers

gbp sticking toe in the water.

My win to loss ratio is 9 wins to every 10 trades, so ill loose 1 out of 10 usually.
I scalp though mostly so I have to have a high win to loss ratio.
Its not about win to losses though its about your account balance.
Swing traders can have 6 wins andf 4 losses and still be profitable because of their risk reward ratio while scalpers need a much higher percentage since they risk more.
So yeah its all about risk and $'s not about wins vs losses.
BTW hatch this wasnt directed at you but at who you were replying to heh)