The Zone at 1.4196 is the only safe buy opportunity, watch PA arrive and leave there. Im not touching this garbage, today and yesterday were horrible in terms of PA.
Move to safer pairs.
Drop lower might occur though, dont get me wrong
- #14,665
- Apr 5, 2011 4:48pm Apr 5, 2011 4:48pm
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts
- #14,666
- Apr 5, 2011 5:00pm Apr 5, 2011 5:00pm
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
- #14,671
- Apr 5, 2011 5:51pm Apr 5, 2011 5:51pm
- Joined Jan 2010 | Status: Amat victoria curam | 2,333 Posts
- #14,672
- Apr 5, 2011 5:53pm Apr 5, 2011 5:53pm
- Joined Jan 2010 | Status: Amat victoria curam | 2,333 Posts
- #14,674
- Apr 5, 2011 6:04pm Apr 5, 2011 6:04pm
- Joined Nov 2009 | Status: Trader | 1,093 Posts
while usdx is not making new lows/highs, eu and uj is riding high...?
I know red and others will disagree with this but:
Delete the fucking USDX and dont even bother looking on it unless you understand the market conditions and whats going on right now.
- #14,675
- Apr 5, 2011 6:04pm Apr 5, 2011 6:04pm
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
- #14,677
- Apr 5, 2011 6:15pm Apr 5, 2011 6:15pm
- Joined Nov 2009 | Status: Trader | 1,093 Posts
He tells it like it is...
- #14,678
- Apr 5, 2011 6:16pm Apr 5, 2011 6:16pm
- Joined Jul 2010 | Status: KIS | 1,578 Posts
thx orb. i agree about current madness of markets. however i also fully understand that there is no such thing as random stuff.
there is method in markets madness. if only i could find that method. i'll have to study chaos theory bit more...
there is method in markets madness. if only i could find that method. i'll have to study chaos theory bit more...
I know red and others will disagree with this but:
Delete the fucking USDX and dont even bother looking on it unless you understand the market conditions and whats going on right now...
- #14,679
- Apr 5, 2011 6:20pm Apr 5, 2011 6:20pm
- Joined May 2008 | Status: Voodoo Lotions & Potions | 26,565 Posts
I know red and others will disagree with this but:
Delete the fucking USDX...
EU GU EJ UCAD UCHF etc etc are all fucking off sync. Market is being fucked with...
...treat each pair as its own fucking entity... when the markets fucking calm down you can go back to trading correlations.
EDIT:
...the markets are a fucking mess...
- #14,680
- Apr 5, 2011 6:31pm Apr 5, 2011 6:31pm
- Joined Jan 2010 | Status: Amat victoria curam | 2,333 Posts
I'm all for 5 and 15 again. I'm no lover of drawdown! Made some nice % on them today.
I just posted the daily 'cause it's the only way to see the levels.
Technically, I'm not so sure of the lifespan of the Euro Bull.
For now, I watch and wait
1) In oktober you had a severe reaction of that level and now you see prices compressing into that zone. it can either start dropping hard here which will most likely not be the case, or retrace a bit before going into full throttle bull mode once I.rates are raised
2) USD is fucked
I could debate with you all night about Technical aspects of the USD weakness and the fundamental aspects (which are useless in this case because they apply to a much larger timeframe) but theres no point in that.
This is the reason why i scalp the markets preferably, i have not done so today via reds recommendation but that is also becuase the new account are with new clients who want to test me first.
Either way scalping is the safest and IMO purest form of trading there is. Assuming you are very good at reading Price action on 2M which takes practice and a keen understanding of S/D.
Either way, on NFP day i ripped the markets to shreds, today and yesterday were boring as fuck, i recovered from the AUD loss on my private account but the new funds are running sllllooowwwww. Scalpfest tommorow
Will post some charts later, might skip sleeping tonight...