she is boucing up and down, Euro indecisive, where will it go, lol
- #303,181
- Oct 8, 2010 5:43am Oct 8, 2010 5:43am
- | Joined Sep 2010 | Status: Trader | 1,883 Posts
- #303,183
- Oct 8, 2010 5:45am Oct 8, 2010 5:45am
- Joined Nov 2008 | Status: Full Time Trader | 10,867 Posts
lol so true, if you do that, the only hope is to pray
And for JPY pairs it should move pretty fast
I'm hesitating to put buy and sell stop above and below current price a minute before the news (with tight stop)
Has anyone tested this strategy before ? if whipsaw there is, it will hurt though
have an initial fast crazy drop like 200 pips. and get long on really low time-frame for a few pips. because GJ for example is moving ap and down HUGE
but it's not something that i really can trust.
- #303,189
- Oct 8, 2010 5:49am Oct 8, 2010 5:49am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
It is amazing how powerful this uptrend was. I have never seen such extended automated buying for so long...never on the 4 hour time frame, not even in months when we went 2000+ pips to the upside or downside. That price action in the past was deliberate, fast, and fueled by fear. September until now has had different motivation driving it, hard to say what exactly but one thing does come to mind. On Bloomberg a few days ago there was this person interviewed who had limited knowledge of the markets from a trader's perspective yet he said something strikingly accurate.
"Similar price action happened with the credit bubble, the tech bubble, the oil bubble (was 14x and went down to low 30s), the housing bubble, etc where PA was pushed up in an almost straight line before the much more gruesome drop that followed".
Is this scenario any different, regarding what we see with the Euro? The stock market? Gold? What troubles me most is how adamant Trichet was at his last speech, acting like nothing was wrong, yet, just last week there were protests all over Europe. Even my uncle who has a somewhat decent job in a EU country had his pay cut by 25%. Yet everything is A okay?... bakane
Anyways for now...the trend is your friend...buyers..you know what to do off this most recent bounce.
Every resistance broken became support, until we see the first significant support broken (the horizontal line), the trend up will remain
"Similar price action happened with the credit bubble, the tech bubble, the oil bubble (was 14x and went down to low 30s), the housing bubble, etc where PA was pushed up in an almost straight line before the much more gruesome drop that followed".
Is this scenario any different, regarding what we see with the Euro? The stock market? Gold? What troubles me most is how adamant Trichet was at his last speech, acting like nothing was wrong, yet, just last week there were protests all over Europe. Even my uncle who has a somewhat decent job in a EU country had his pay cut by 25%. Yet everything is A okay?... bakane
Anyways for now...the trend is your friend...buyers..you know what to do off this most recent bounce.
Every resistance broken became support, until we see the first significant support broken (the horizontal line), the trend up will remain
Different opinions highly valued, ignorant to slander.
- #303,192
- Oct 8, 2010 5:53am Oct 8, 2010 5:53am
- Joined Oct 2008 | Status: sideline is a position | 105,124 Posts
those who can, do. those who cant, talk about those who can
- #303,194
- Oct 8, 2010 5:55am Oct 8, 2010 5:55am
i don't get the reason why if you are a new to forex.
don't have any idea what NFP is.
yet you feel a desire to trade this NFP because you saw a 100 spike in the past and you think. hey i just want 20.
well you are not going to finish +20. i tell you that.
i do know NFP, but still cant stop tempting pips,
you know what i have already done, really need to stay away and get disciplined first then come back,
Holy Grail - Patience and Acceptance
- #303,195
- Oct 8, 2010 5:56am Oct 8, 2010 5:56am
- Joined Apr 2009 | Status: Live and learn. | 25,162 Posts
"If The Fool persists in his Folly he will become wise." - William Blake
- #303,197
- Oct 8, 2010 6:00am Oct 8, 2010 6:00am
- | Joined Sep 2010 | Status: Trader | 1,883 Posts
I agree DMA,
i do know NFP, but still cant stop tempting pips,
really need to stay away and get disciplined first then come back,
- #303,198
- Oct 8, 2010 6:00am Oct 8, 2010 6:00am
- Joined Mar 2010 | Status: Trader | 42,434 Posts
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
lol