They both work on the same principle, i.e., it's a basket of weight currencies, just the usdlfx is liteforex's own, so they might use a different weighting, or different currency pairs as part of the calculation.
hi azim,
you have done it to me again. Just when i think i am starting to understand your trading,,you buy below close resistance .???
I have been studying forex for about three years, through jacko, and james 16, but by watching your live trades, i think i am one more step up the ladder.
Thanks mate. Graham
by the way, what do you think of cable and the close? are you still bearish?
here is my chart (don't shoot me). i still see a bit more downside action after the rejected close beneath the upwards ltl. the targets i have in mind are your famous 1.53 and 1.489 if the former gives way. (btw i used to be amazed on how accurate you can call those numbers to the pip! then i saw you kept posting these high timeframe charts it felt like a tool, these levels were clear as day!) the other reasons i have is that the bearish engulfing candle is still there...
thanks for the reply wb. its good to know that i'm doing things right
i shorted the pair yesterday as price from the h1 and h4 showed bearish continuation, which was later confirmed with the daily close earlier. it was comforting to see you being in the same trade.
i hope this trade turns great for us. thanks again and good luck to you wb!
i hope you dont mind me saying it out loud, i'm not bragging just trying to show you how you've helped me be profitable.
hi wb
the first target of 1.53 had been reached and i had taken full profit earlier 1.5297. +116 pips in realised profit for the trade taken to the 6th day. moneywise i made about $2000.00 which is really great for me on a week's work
i will now scrap 1.489 until the daily close below 1.53. when that happens i'll short it again. like you i'm staying flat for now.
thank wb and good luck to you!
Goes to show how much steadier & safer it is to be trading the higher timeframes & to go with the flow. Seriously, you just reminded all of us how simple trading can be Well played my friend, you traded that like a seasoned trader, much respect
I had not had the best start to the week unfortunately & it does not seem like I'm going to look for an entry today as the eid celebrations is only a day away...
