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  • #10,541
  • Mar 10, 2010 12:28am Mar 10, 2010 12:28am
Quoting strat
I can't for the life of me figure out what is holding EURUSD up and USDCHF down.

Let's see what the next few days' news brings

The passengers
  • #10,542
  • Edited 6:19am Mar 10, 2010 5:25am | Edited 6:19am
Quoting strat
I can't for the life of me figure out what is holding EURUSD up and USDCHF down.

Let's see what the next few days' news brings
Chunnel may prove to be the story teller here. It's worth following that relationship, I think, to see if the boat really is turning around. Cable may give a tip off as well, as it moves about in the midst of last week's rejectionary PA. USDCHF has a line in the sand below 1.0650

AUD continues to impress.

When will the Continental influence turn from geo-polical back to economic reality? Is this an opportunity? By contrast, are we looking at the beginning of inflationary pressures masquerading as a Greek crisis?

At times like these, I rely most heavily n the longer term charts. That is the beauty of Strat's approach. Fine tuning the daily to the longer charts and using appropriate stop management should be highly effective in grasping the bulk of the move at the best time. One has to be satisfied with a few aborted attempts, however.
  • #10,543
  • Mar 10, 2010 6:02am Mar 10, 2010 6:02am
Nice setup on Gold.
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #10,544
  • Mar 10, 2010 6:42am Mar 10, 2010 6:42am
Quoting Lotuselanman
I think the problem with using volume on Forex is that it is virtually impossible to get an accurate figure for it. What you get on a particular broker's feed is not the whole picture by any means - hence it is meaningless for us to take it into account.

That's how I understand the issue anyway!
I wouldn't agree that the quality of the info is poor (depends where you look/what you get). Even if it is, it's not a reason to disregard it as meaningless. On the contrary it worries me that we dismiss something beacuse of technological inaccuracy when we are in the business of being good technicians.
  • #10,545
  • Mar 10, 2010 6:47am Mar 10, 2010 6:47am
Quoting gbegley
I wouldn't agree that the quality of the info is poor (depends where you look/what you get). Even if it is, it's not a reason to disregard it as meaningless. On the contrary it worries me that we dismiss something beacuse of technological inaccuracy when we are in the business of being good technicians.
Give me The REAL Forex volume and I would not disregard it
As for the tick count (MT4 volume), it can be safely put there, where the sun doesn't shine.
  • #10,546
  • Mar 10, 2010 6:59am Mar 10, 2010 6:59am
Quoting Jideck
Hi gbegleyhttp://cdn.forexfactory.com/images/icons/icon7.gif

Great to know that you are following this thread, however bear in mind that post 56 has been superseded by many later posts that tell to disregard volume. It would be advisable that you read through the whole thread to get abetter understanding of what we follow here. Majority of us who post here done it already number of times, that why you do not see talk about volume.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
Hi Strat. Did ya ever hear of a band called the Pixies? Some great numbers!! I didn't realise that we had some pixies on this thread. Jideck must be hovering around me checking to see if i'm reading everything or not. He appears to have come to the conclusion that I'm a bad student! hurrump hurrumf!

Jideck - Here's a number for you: Post #10527 '.......Dr. Joe never used PASR. After leaving the CME Pits, he threw out everything technical he had or knew EXCEPT volume.......'
Hope you're reading the thread carefully Jideck ...Big brothers watching you!
Seriously Jidec. A bit of advice: Don't not do something just because the 'majority' of people don't do something. Think outside of the box and have some confidence in yourself. Incorporate anything you think might help your trading rather than adopting a 'we don't do volume on this thread 'HERE' attitude. The only thing i do that everyone else does here is follow the trend!
Bisous - Frank Black.
  • #10,547
  • Mar 10, 2010 7:29am Mar 10, 2010 7:29am
Quoting gbegley
H
Hope you're reading the thread carefully Jideck ...Big brothers watching you!
Good advice you might follow yourself.

Quoting strat
Marcus, why have you got VOLUME on your forex charts?

I thought I made it clear to everyone that volume in forex is USELESS for our technical analysis.
  • #10,548
  • Mar 10, 2010 8:08am Mar 10, 2010 8:08am
The power of the Boss. This stuff is slowly but surely coming together for me. The last few posts are very informative thanks Strat. I am at 60 something pages reading, second time that is.
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  • #10,549
  • Mar 10, 2010 9:59am Mar 10, 2010 9:59am
These markets are pure utter garbage . . .
"Don't trade to trade . . . trade to win." - James16
  • #10,550
  • Mar 10, 2010 10:39am Mar 10, 2010 10:39am
That may or may not be true depending on how you see it.

But if you're just waiting your not loosing right?
  • #10,551
  • Mar 10, 2010 10:59am Mar 10, 2010 10:59am
Quoting CrudeCraig
That may or may not be true depending on how you see it.

But if you're just waiting your not loosing right?
You're right. Don't pay any mind to my rants. I just hate the games that the US markets play . . .
"Don't trade to trade . . . trade to win." - James16
  • #10,552
  • Mar 10, 2010 11:35am Mar 10, 2010 11:35am
Quoting Donadoney
MS and Strat, our resistances correspond at 1.2800...I don't have anything on my chart until 1.3600. I guess I will let my skill or lack thereof determine my fate. But I guess what I am saying is based on my study of the chart a pullback to 1.2800-1.2850 wouldn't invalidate the chart's PA.

Good luck.
It wouldn't change the trend BUT it would mean that buyers have to go through that psychological hurdle at the top again.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,553
  • Mar 10, 2010 11:37am Mar 10, 2010 11:37am
Quoting Money Magnet
The passengers
Unloading or loading and which Platform?
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,554
  • Mar 10, 2010 11:42am Mar 10, 2010 11:42am
Quoting soso
Nice setup on Gold.
And roll this over on to AUDUSD!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,555
  • Mar 10, 2010 11:49am Mar 10, 2010 11:49am
Quoting gbegley
I wouldn't agree that the quality of the info is poor (depends where you look/what you get). Even if it is, it's not a reason to disregard it as meaningless. On the contrary it worries me that we dismiss something beacuse of technological inaccuracy when we are in the business of being good technicians.
On the contrary it worries me that we dismiss something beacuse of technological inaccuracy when we are in the business of being good technicians.

I don't know what a "good" technician is but I can tell you that part of being a "successful and profitable" technical trader is learning to sort and use the useful information from ALL the other information and crap out there.

Now, if you can find a way to CONSISTENTLY and PROFITABLY use the volume information provided to us from our individual brokers to improve our profits, I will be forever in your debt. I miss volume!


15 YEARS OF PASR ON FOREX FACTORY!
  • #10,556
  • Mar 10, 2010 11:55am Mar 10, 2010 11:55am
Quoting gbegley
Hi Strat. Did ya ever hear of a band called the Pixies? Some great numbers!! I didn't realise that we had some pixies on this thread. Jideck must be hovering around me checking to see if i'm reading everything or not. He appears to have come to the conclusion that I'm a bad student! hurrump hurrumf!

Jideck - Here's a number for you: Post #10527 '.......Dr. Joe never used PASR. After leaving the CME Pits, he threw out everything technical he had or knew EXCEPT volume.......'
[font=Arial]Hope you're reading the thread carefully...
Dr. Joe traded FUTURES and COMMODITIES where there is a CENTRAL EXCHANGE and thus VOLUME was meaningful. That is why he used volume. Had he traded forex, he would be as blind as us!

Until FOREX is traded through a CENTRAL EXCHANGE, all volume figures are MEANINGLESS.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,557
  • Mar 10, 2010 11:59am Mar 10, 2010 11:59am
Quoting patrick25
The power of the Boss. This stuff is slowly but surely coming together for me. The last few posts are very informative thanks Strat. I am at 60 something pages reading, second time that is.
The power of the Boss. This stuff is slowly but surely coming together for me. The last few posts are very informative thanks Strat. I am at 60 something pages reading, second time that is.

You continue to keep doing the right things. Good for you, Patrick.

There are others on the thread where it is not coming together for them - how about letting them know how you are putting the jigsaw together?
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,558
  • Mar 10, 2010 12:15pm Mar 10, 2010 12:15pm
Quoting Flem26
These markets are pure utter garbage . . .
These markets are pure utter garbage . . .

Hey! Do not talk about my income provider like that!

Treat HER with respect and SHE will look after you.

Talk badly about HER and SHE will forever give you a BAD time.

Anyone who is frustrated with the lack of activity or the state of the markets are being controlled by their LITTLE PEOPLE.

Take control back and learn to like these times.

We go through periods like this every year, it’s nothing new. Walk away from your charts and find something else to do. Whatever you do, don’t try and trade what isn’t there!

I have been talking this morning to a couple of trading pals and they tell me that brokers are reporting so many traders going bust and accounts being closed.

I personally like these times as it gives me the opportunity to get on with my trading and psychology R&D and other non – trading stuff.

The other good thing about these times is that business has to get done; it must be done to keep the wheels turning. What this means is that while everything is “on hold”, we are accumulating a backlog of “work”.

Translated into trading terms, there are usually big moves, sometimes explosive moves after this – “the calm before the storm”.

Also, around this time of the year, the currencies move into their trends so be PATIENT and DISCIPLINED and only STRIKE when the opportunity presents itself.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,559
  • Mar 10, 2010 12:35pm Mar 10, 2010 12:35pm
HOORAAH....lol

the ending is my favorite.....

STRATs rallying his troops!

Quoting strat
These markets are pure utter garbage . . .

Hey! Do not talk about my income provider like that!

Treat HER with respect and SHE will look after you.

Talk badly about HER and SHE will forever give you a BAD time.

Anyone who is frustrated with the lack of activity or the state of the markets are being controlled by their LITTLE PEOPLE.

Take control back and learn to like these times.

[font=Arial]We...
Annoying Precision
  • #10,560
  • Mar 10, 2010 12:49pm Mar 10, 2010 12:49pm
I know we don't trade fundis here, yet a bit of attention to them, sometimes can't do too much harm.

I am also looking at the Aud/Nzd trade and my ideas are more or less what has been posted.......then I started looking at the charts and thinking fundis.

Basically what I am aiming is at the fact that the aussie people have already raised their interest rates, kiwi is lagging there. News coming from kiwiland seem to be getting better.

Tonight there is rate decision, there so maybe pay some attention to the comments and statements by the Kiwi Central bank wud be a nice idea. Pity I'm asleep, but we'll see tomorrow.

For what it's worth

Spinner
Spinner 'Tis in the Waiting.....
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