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  • #459,001
  • Jun 9, 2011 8:43pm Jun 9, 2011 8:43pm
Quoting Chicky
Can you do this with google strings?
no.
  • #459,002
  • Jun 9, 2011 8:45pm Jun 9, 2011 8:45pm
I am confused. For all you more experienced traders please help me understand.

Trichet says "strong vigilance", which would mean a rate hike is more probable next time.

However, EURUSD falls all the way to 1.4540 and touches weekly pivot.

How is that possible? Why is it so conflicting? I thought if he hints at a rate hike the pair would for sure blow past resistance.

Last night I shorted EUR/USD because of the technical aspect. I entered at 1.46141 because of strong resistance at the 1.4650 level and in order to complete the H&S pattern on the hourly chart, the pair would HAVE TO drop below the 1.4650/60 level. TP hit at 1.4568, which was 61.8 Fib Level.

Don't get me wrong, I am certainly happy that I made pips but I am just confused as to why the pair dropped so much despite Trichet's hint at a rate hike?

Regards,
Brandon
  • #459,003
  • Jun 9, 2011 8:50pm Jun 9, 2011 8:50pm
Quoting Brandon
I am confused. For all you more experienced traders please help me understand.

Trichet says "strong vigilance", which would mean a rate hike is more probable next time.

However, EURUSD falls all the way to 1.4540 and touches weekly pivot.

How is that possible? Why is it so conflicting? I thought if he hints at a rate hike the pair would for sure blow past resistance.

Last night I shorted EUR/USD because of the technical aspect. I entered at 1.46141 because of strong resistance at the 1.4650 level and in order to complete the H&S pattern...

Because the news is set to fuck with ya...

How many times has this piece of shit skyrocketed on really bad fucking news?

Keep to the techs my friend...follow the money, not how others say the market will or should react to the press...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #459,004
  • Jun 9, 2011 8:51pm Jun 9, 2011 8:51pm
Quoting Rednose
no.
Pluck this string from the middle and very very slowly move it down, just before it springs up, you will see those buttons.
The Thief of Wall Street
  • #459,005
  • Jun 9, 2011 8:58pm Jun 9, 2011 8:58pm
Quoting Magix
Because the news is set to fuck with ya...

How many times has this piece of shit skyrocketed on really bad fucking news?

Keep to the techs my friend...follow the money, not how others say the market will or should react to the press...
Thanks for the reply.

So should I focus solely on technicals to trade?

I've read some books and I've learned that combining technicals and also keeping track of fundamentals is the most effective, rather than just focusing on just one aspect of forex? Is this not true?

Or did Trichet say something subtle in his speech that I did not catch to drop the pair?

Many thanks!
  • #459,006
  • Jun 9, 2011 8:59pm Jun 9, 2011 8:59pm
Quoting Larseg
Hi Gator,


just in the middle of the newly developed down trend channel on the 1H, would not surprise me if it went very high for confusion purposes...

Not touching it yet,

did you see that soros sold 800 mill gold?
i fu

i should of waited for 49.. 46 was in a smaller set-up. i just dint want to lose. easy money.. between the lines.
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those who can, do. those who cant, talk about those who can
  • #459,007
  • Jun 9, 2011 9:03pm Jun 9, 2011 9:03pm
Quoting Chicky
Pluck this string from the middle and very very slowly move it down, just before it springs up, you will see those buttons.
Can´t it was yesterday on google here...gmt+1
  • #459,008
  • Jun 9, 2011 9:03pm Jun 9, 2011 9:03pm
Quoting Brandon
Thanks for the reply.

So should I focus solely on technicals to trade?

I've read some books and I've learned that combining technicals and also keeping track of fundamentals is the most effective, rather than just focusing on just one aspect of forex? Is this not true?

Or did Trichet say something subtle in his speech that I did not catch to drop the pair?

Many thanks!
I steer clear of the press...not saying that I do not observe the big press events as a part of when to sit out of market, but direction is direction and techs always have a story to tell...

Fundies are great if you watch the stocks, even though most publicly traded companies are completely full of shit and lie to people on a regular basis, they do cause market ripples...

There can be an impact from techs on the 4x...but ultimately speaking, unless somebody drops the bomb, trends remain intact.

Seriously, the globe is bust...bankrupt...bad press is only a moment in time, whilst we try to climb out of the hole the generations before us dug us into...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #459,009
  • Jun 9, 2011 9:12pm Jun 9, 2011 9:12pm
Below is someones' ideas and to add to what others have said.

Also, perhaps "buy the rumour, sell the news" scenario and partly rate hike for July already was well priced in.


http://www.fxclub.com/forex-club-ana...en/review3435/


http://www.fxclub.com/forex-club-ana...en/review3435/


Quoting Brandon
Thanks for the reply.

So should I focus solely on technicals to trade?

I've read some books and I've learned that combining technicals and also keeping track of fundamentals is the most effective, rather than just focusing on just one aspect of forex? Is this not true?

Or did Trichet say something subtle in his speech that I did not catch to drop the pair?

Many thanks!
  • #459,010
  • Jun 9, 2011 9:14pm Jun 9, 2011 9:14pm
Quoting Rednose
Can´t it was yesterday on google here...gmt+1
what's today?


Not on google dude,.................... asking about eur/usd.
The Thief of Wall Street
  • #459,011
  • Jun 9, 2011 9:17pm Jun 9, 2011 9:17pm
Quoting Chicky
what's today?


Not on google dude,.................... asking about eur/usd.
  • #459,012
  • Jun 9, 2011 9:19pm Jun 9, 2011 9:19pm
Out to bed now.tired.
See you guys tomorrow.
Green pips to all of you.
  • #459,013
  • Jun 9, 2011 9:21pm Jun 9, 2011 9:21pm
Quoting Brandon
Thanks for the reply.

So should I focus solely on technicals to trade?

I've read some books and I've learned that combining technicals and also keeping track of fundamentals is the most effective, rather than just focusing on just one aspect of forex? Is this not true?

Or did Trichet say something subtle in his speech that I did not catch to drop the pair?

Many thanks!
you learn technicals for trading -- and money management of course.

you learn fundamentals for entertainment purposes only. so you can understand when news like the one yesterday is happening while watching the market and seeing how many gamblers gets wiped out and margin called.
  • #459,014
  • Jun 9, 2011 9:49pm Jun 9, 2011 9:49pm
Quoting boypunas
you learn technicals for trading -- and money management of course.

you learn fundamentals for entertainment purposes only. so you can understand when news like the one yesterday is happening while watching the market and seeing how many gamblers gets wiped out and margin called.
not quite... fundamental is the basis of market direction. if you are good in fundamental, you can take a shot before technical or quant move price.

one gd example was yesterday, and the surge in gold silver etc. all driven by fundamental...

different period different time, have different drivers, you must be able to identify the focus, and interpret the data correctly. its not easy. easier to use fundamental for longer term trading.

every data being released and how the market reacts to it is very important, it gives you more valuable information to what the market is thinking and how they are reacting to it, enables you to picture the demand supply.

just like when you lose a trade. it's not plainly losing or taking a loss etc, when you lose a trade, it gives you very good information what the market doing. it is always about interpreting information correctly.
  • #459,015
  • Jun 9, 2011 9:55pm Jun 9, 2011 9:55pm
Yeah fundamentals for entertainment purposes only is a bit of a silly thing to say.
Don't get mad, get even!
  • #459,016
  • Jun 9, 2011 10:04pm Jun 9, 2011 10:04pm
Silver might be ready for a little correction, also Aussie fat black h1 marubozu, following a shooting star.
Don't get mad, get even!
  • #459,017
  • Jun 9, 2011 10:15pm Jun 9, 2011 10:15pm
h4
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  • #459,018
  • Jun 9, 2011 10:16pm Jun 9, 2011 10:16pm
Quoting boypunas

you learn fundamentals for entertainment purposes only.
You are so correct. Fundamentals are for only entertainment purposes and it the techs that drive the markets.

Just ask any CEO. They would never make any hiring, firing, lay-offs, plant expansions or plant shutdowns based on fundamentals of the economy.

No.

They consult their charts in the wee hours of the morning by candlelight. I hear most prefer the 1-minute chart.

Business drives the markets.
  • #459,019
  • Jun 9, 2011 10:17pm Jun 9, 2011 10:17pm
Quoting stulic
Yeah fundamentals for entertainment purposes only is a bit of a silly thing to say.
Knowing fundamentals is one thing, and correctly predicting developing market reactions to these fundamentals is another.

If underlying condtions are fairly known, one has to wait for the market to move in the direction warranted by such fundamentals. Moves may not occur exactly as envisaged, but market generally keeps on moving in that direction. Any contradictory moves are only temporary. One needs some basic principles and skills to trade in such market conditions. It's easy to find a long list of these principles, however, their application requires skills. And skills are only learned.
The Thief of Wall Street
  • #459,020
  • Edited 11:03pm Jun 9, 2011 10:38pm | Edited 11:03pm
Quoting Chicky
Knowing fundamentals is one thing, and correctly predicting developing market reactions to these fundamentals is another.

If underlying condtions are fairly known, one has to wait for the market to move in the direction warranted by such fundamentals. Moves may not occur exactly as envisaged, but market generally keeps on moving in that direction. Any contradictory moves are only temporary. One needs some basic principles and skills to trade in such market conditions. It's easy to find a long list of these principles, however, their application...
Not many are courageous enough to let others know what they think for fear of being wrong or nice enough not to take any chances of other traders blindly following their calls and lose money because of lacking skills. But if one is little knowlegeable, can form own opinion and be right most of the time.

Here, we present our opinions and seek second, third and fourth ............... however, some people like me additionally try to be aholes.
The Thief of Wall Street
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