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  • #298,001
  • Sep 29, 2010 5:51am Sep 29, 2010 5:51am
Quoting sisse
I disagree. Not always and especially not some of this week #s and speeches. Bernanke words will be followed to the minimum detail given QE2 and I wouldn't underestimate the revision on German Retail. Plus the bond spreads reaction after the new bailout in Ireland are still fresh and the follow up of the big strikes in Europe can trigger some political shifts in some EZ countries.

IMO, is way too early this week/month to call a smooth ride with fundamentals already digested in charts.

We'll see

sisse
  • #298,002
  • Sep 29, 2010 5:52am Sep 29, 2010 5:52am
Looking to Sell Eur/Usd on Test of Next Key Resistance: http://bit.ly/bJzxqR

Read more at: Forex @ DailyFX - Real Time Forex News http://www.dailyfx.com/real_time_news/#ixzz10ulI1c4B
  • #298,003
  • Sep 29, 2010 5:53am Sep 29, 2010 5:53am
Quoting The Fool
sure - that explains why we have ginormous spikes in the price a few seconds after certain news announcements
and what happens after that. does the news change the trend ?
i can give you thousand examples.
just yesterday BOE re announce QE what happen to GU drop like a rock.
Did anybody expect something different ?

Prices drop to 1.57 and then retrace back to 1.588 near highs.

sure it can be ginormous on a 5 minute charts using 1:100 leverage.

like i said earlier it really depends on trading style
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #298,004
  • Sep 29, 2010 5:55am Sep 29, 2010 5:55am
Quoting DMA Trader
and what happens after that. does the news change the trend ?
i can give you thousand examples.
just yesterday BOE re announce QE what happen to GU drop like a rock.
Did anybody expect something different ?

Prices drop to 1.57 and then retrace back to 1.588 near highs.

sure it can be ginormous on a 5 minute charts using 1:100 leverage.

like i said earlier it really depends on trading style
Price only found firm support after Sentance released strong comments to counter the effects of Posen's dovish speech.
  • #298,005
  • Sep 29, 2010 5:58am Sep 29, 2010 5:58am
Quoting Z3iz3i
Careful market right now...bear probably re-positioned a bit higher.

Today "wtf" moments are possible.
m5-wedge broken... wtf!
  • #298,006
  • Sep 29, 2010 5:59am Sep 29, 2010 5:59am
Quoting DMA Trader
like i said earlier it really depends on trading style
relax buddy, I really don't expect you to have the stones to admit you were talking out your ass
"If The Fool persists in his Folly he will become wise." - William Blake
  • #298,007
  • Edited 6:20am Sep 29, 2010 6:04am | Edited 6:20am
Quoting MissPips
Thanks. What do you do with them? I don't have any problem recognizing when we are in a range, or triangle or where the borders are but I've just never figured out how to trade that except to wait for it to break and then trade a retracement after it breaks with momentum.
huh hard to explain this way...but ill try

Basically u need StepMA indicator, MACD, BB. Add macd 0, 0003 and -0003 levels.
When MACD crosses zero level it will show a thick bar. wait for a thin bar then ENTER on next thick bar. StepMA (10,2,0) needs to confirm that. If StepMA is above its line u need bullish MACD signal ( above zero line, and thick bar which appeared after thin bar). Thin bar on MACD signals retracement thats why u need to wait for a next THICK bar. BB bands are good volatilty signal (converging/diverging). The opposite is for bearish signal. Price below StepMA line, crossing zero from above, thick then thin then thick bar for an entry.

If the price is between 0003 and - 0003 it is around zero level, its range bound then. U can add if the price goes above/below its range and it rides on BB upper or a lower band....

Its hard to explain this way but its one of my favourite scalping systems that also detects range bound PA.

Another method is that u can add 50 sma on the chart and watch the angle it shows...U can clearly see the steepness of the angle. When the PA is above the 50 sma and its angle is rising u can open a buyorder. If the angle is dropping and the price is below 50 sma add short.

Im working on another system and indicators, I will share it but I need to test it first, but abovementioned way of range/scalp trading has served me well.

T
  • #298,008
  • Sep 29, 2010 6:10am Sep 29, 2010 6:10am
Base on H4 we should c 1.3510 area soon...otherwise again...cooking still not yet finish...

bb in NY....take a look UCHF...

http://www.forexfactory.com/showpost...&postcount=630

just nice
  • #298,009
  • Sep 29, 2010 6:15am Sep 29, 2010 6:15am
Quoting grashid
Base on H4 we should c 1.3510 area soon...otherwise again...cooking still not yet finish...

bb in NY....take a look UCHF...

http://www.forexfactory.com/showpost...&postcount=630

just nice
There are some definate bearish divergances on several indicators on the 4h atm... will they play out though is the big question.
Today's zone = Tomorrow's opportunity!
  • #298,010
  • Sep 29, 2010 6:20am Sep 29, 2010 6:20am
Quoting Mr Hatch
m5-wedge broken... wtf!
Hehe

I doubt bulls can proceed up further, pair really needs a pullback for decent setup to target 1.37, it just might come when NY opens

Probably just small range and then ready for shorts...targets 1.3550 -> 1.3505
They think they are smarter than I am.
  • #298,011
  • Sep 29, 2010 6:22am Sep 29, 2010 6:22am
Quoting The Fool
relax buddy, I really don't expect you to have the stones to admit you were talking out your ass
well with that attitude i don't see any point for me to try to explain something you know but don't care.

whatever.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #298,012
  • Sep 29, 2010 6:22am Sep 29, 2010 6:22am
Quoting pres78
There are some definate bearish divergances on several indicators on the 4h atm... will they play out though is the big question.
correct..362 area will be good for short with tight SL..otherwise i would like to c how NY open then will decide later...

All my swing long already close at 36 area n c what happen next...

bb in 1 hr...take care
  • #298,013
  • Sep 29, 2010 6:24am Sep 29, 2010 6:24am
Quoting grashid
correct..362 area will be good for short with tight SL..otherwise i would like to c how NY open then will decide later...

All my swing long already close at 36 area n c what happen next...

bb in 1 hr...take care
a sl immediately at be is preferred. let's see what the plunge protectors do at 3580.

concerning ew-count, i would like to ask, how a correction would be counted if we retrace before reaching the 3rd (iii) projection of the sub-minuette.
  • #298,014
  • Sep 29, 2010 6:25am Sep 29, 2010 6:25am
Protesters on the move through Brussels

http://euobserver.com/9/30922
  • #298,015
  • Sep 29, 2010 6:34am Sep 29, 2010 6:34am
Quoting gammase1
Price only found firm support after Sentance released strong comments to counter the effects of Posen's dovish speech.
maybe we are right.
let's turn out conversation to trading while we think about what we are saying.

so i think the news which didn't seem new to me because that is how Posen usually talks. Did cause a drop and make a lot of people to go short or just take Stop loss.

So did the news help you trade or not.
For me din't do a lot. Yet what I see is that on daily is that GU has a resistance on 1.583 area that will prevent me to increase long until that level is broken.

How did the news help you

THanks.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #298,016
  • Sep 29, 2010 6:35am Sep 29, 2010 6:35am
Quoting DMA Trader
well with that attitude i don't see any point for me to try to explain something you know but don't care.

whatever.

hehe, had to read the conversation twice.. maybe I am just tired...

but it seems like you two are talking past each other, the price is in the charts after the news... so yes, it is in the news but after...

Come on, hug it out!
  • #298,017
  • Sep 29, 2010 6:38am Sep 29, 2010 6:38am
Quoting DMA Trader
maybe we are right.
let's turn out conversation to trading while we think about what we are saying.

so i think the news which didn't seem new to me because that is how Posen usually talks. Did cause a drop and make a lot of people to go short or just take Stop loss.

So did the news help you trade or not.
For me din't do a lot. Yet what I see is that on daily is that GU has a resistance on 1.583 area that will prevent me to increase long until that level is broken.

How did the news help you

THanks.
actually i think that "news" are not new to those guys moving the market. anyone is aware of the fact that spain still needs to be downgraded by one major rating agency, but when this happens, this will easily be used to make a lot of money by those who can create a visible market-movement. just the law of logic, i think. does it help me trading... if plunge protection team is looking away from their screens at that moment, definitely, because most of those movements give a pip or two.
  • #298,018
  • Sep 29, 2010 6:39am Sep 29, 2010 6:39am
It should be bear market today. Has me nervous about taking anymore longs.
All that is left in FF is just plain garbage. "Cloggie"
  • #298,019
  • Sep 29, 2010 6:39am Sep 29, 2010 6:39am
Quoting pres78
There are some definate bearish divergances on several indicators on the 4h atm... will they play out though is the big question.
They will play out, but the question is when.
  • #298,020
  • Sep 29, 2010 6:42am Sep 29, 2010 6:42am
Do you think without secret committee's black hand it is possible for bull to show more strength at this level?
Fed still sleeping and watching the game. Above 1.4 when dealer will come with them to f*ck the dollar then fed will moan.
We won't surprise if we see the beginning level after the end of this year. Euro will be the winner. Next year 1.7->2?
You cannot learn better without losing
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