Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound | Page 26 | Forex Factory

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Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound

  • #501
  • Jun 22, 2011 2:18am Jun 22, 2011 2:18am
Quoting PhAnTi'
closed my eurjpy short...this happens if u dont wait for 100 % setup .... heck yen diving down and euro strong...
I'm sorry to hear this . How many pips did you lose on that trade?
  • #502
  • Jun 22, 2011 2:20am Jun 22, 2011 2:20am
Quoting PhAnTi'
lot of supply here, awaiting drop soon

Attachment
Btw rsx not yet overbought for nzd usd?
  • #503
  • Jun 22, 2011 2:22am Jun 22, 2011 2:22am
Quoting Dorobantu
Btw rsx not yet overbought for nzd usd?
nope, as discussed before i took this trade bcause of r turned s etc. , see previous post, not a textbook setup regarding rsx, you're right !

Jonas
Hero calls followed by margin calls...
  • #504
  • Jun 22, 2011 2:25am Jun 22, 2011 2:25am
Ah, I'm sorry I've totally forgotten about your previous post about nzd usd. You should keep an eye on today's news.
  • #505
  • Jun 22, 2011 2:26am Jun 22, 2011 2:26am
Quoting Dorobantu
Ah, I'm sorry I've totally forgotten about your previous post about nzd usd. You should keep an eye on today's news.
No problem bud

yep especially uk and usd

Jonas
Hero calls followed by margin calls...
  • #506
  • Jun 22, 2011 2:48am Jun 22, 2011 2:48am
Today, on my way to work I kept thinking about supply / demand zones and I asked myself what could be the fundamental explanation to this behavior of the price at that certain level? Most of the firms that deal with import and distribution inside a country keep their price levels adjusted to the currency the product is originary from. They have analysts and people that deal with financial issues and they usually buy foreign currency at a low price so that in a near future when prices presumably rise they would make more profit from selling their products. Most of the analysts' work is basicly the same because they use identical methods in determining what is profitable for them and what is not. Could this be a valid fundamental explanation to the supply / demand levels?
  • #507
  • Jun 22, 2011 2:59am Jun 22, 2011 2:59am
Quoting Dorobantu
Today, on my way to work I kept thinking about supply / demand zones and I asked myself what could be the fundamental explanation to this behavior of the price at that certain level? Most of the firms that deal with import and distribution inside a country keep their price levels adjusted to the currency the product is originary from. They have analysts and people that deal with financial issues and they usually buy foreign currency at a low price so that in a near future when prices presumably rise they would make more profit from selling their...
well i guess there r a lot of definitions,explanations etc.

i use to say it this way :

Markets are trending and ranging. Means investors try to buy as low as possible to take their profits at a higher level. The lower the price is,the more room is to the upside and the more likely pa will go up again. --> rly relative spoken

And vice versa.

Why do we have certain levels and areas?

Well 10-15 years ago traders worked at the pits and floors like Chicago etc, round numbers like 1.4100 , 1.4000 , 1.5000 , 2.000 etc played a far more important role than today.

Why? today 95 % of traders sitting infront of their screens and trading with the computers n software. So new demand and supply areas develop.

So it is easier to identify supply and demand levels,area where new sellers come in and buyers take cash from the table and vice versa than 10 years ago.

Anyway psych levels ( 1., 1.5 ,1.6 etc ) still persist and work out.

Thats my opinion.
Pretty interesting topic tough, hope some others iwll post their ideas n thoughts.

Jonas
Hero calls followed by margin calls...
  • #508
  • Jun 22, 2011 3:14am Jun 22, 2011 3:14am
Your explanation is quite valid from a technical point of view but the fundamental function of a currency is it's proper use inside a society given by the value that individuals agree upon. These individuals for example agree upon the value of their own individual work and they can trade their own surplus of their work value for other's man surplus the. Is it possible to predict strong supply / demand levels by looking upon the macroeconomic indicators which actually give the value of a certain coin ( the real value that the price will eventually have to adjust to ). What we see inside forex is a nominatory price, not a real one because there are many speculators which have a influence upon price. I'll try to take a look upon some charts and corelate some of the indicators and monetary stability in relativity with the other coin in exchange and determine the real value that a pair should come down or up to.

To give you a more simplier point of view I see things like this. A man that works inside a country has a certain productivity of labour associated with his domain and he is paid in a certain coin. I want to correlate the exact same ammount of work that man put into earning a bread(raw example) with the ammount of work that another man inside another country for earning the same bread. Is their work surplus associated with that bread exactly at the same value?
  • #509
  • Jun 22, 2011 6:19am Jun 22, 2011 6:19am
today my trade (target 25 pip) long gbp/usd

Attached Image (click to enlarge)
Click to Enlarge Name: today.jpg Size: 204 KB
Georgia
  • #510
  • Jun 22, 2011 6:30am Jun 22, 2011 6:30am
Quoting refreshg
today my trade (target 25 pip) long gbp/usd

Attachment
ok,but remember this is m15 frame, 25 pip reversal is huge on here, id wait until 6100,then ill might buy the h1 frame

lets c

gl

jonas
Hero calls followed by margin calls...
  • #511
  • Jun 22, 2011 6:35am Jun 22, 2011 6:35am
yes already i have buy lilmit at 1.6100 and target 55 pip

let c
Georgia
  • #512
  • Jun 22, 2011 6:37am Jun 22, 2011 6:37am
Quoting refreshg
yes already i have buy lilmit at 1.6100 and target 55 pip

let c
Hero calls followed by margin calls...
  • #513
  • Jun 22, 2011 8:27am Jun 22, 2011 8:27am
Quoting PhAnTi'
lot of supply here, awaiting drop soon

Attachment
Did you go short on nzd usd at that time?
  • #514
  • Jun 22, 2011 8:29am Jun 22, 2011 8:29am
Quoting Dorobantu
Did you go short on nzd usd at that time?
yep but closed it manually for -14
Hero calls followed by margin calls...
  • #515
  • Jun 22, 2011 8:33am Jun 22, 2011 8:33am
Quoting PhAnTi'
yep but closed it manually for -14
  • #516
  • Jun 22, 2011 8:37am Jun 22, 2011 8:37am
Quoting Dorobantu
losing is part of the time.
it wasnt a textbook setup, bit more risky ...

Hero calls followed by margin calls...
  • #517
  • Jun 22, 2011 8:57am Jun 22, 2011 8:57am
price touch my second buy limit order at 1.6100 and go up. i have 2 position

-3 and +20 target 1.6151
Georgia
  • #518
  • Jun 22, 2011 9:09am Jun 22, 2011 9:09am
Quoting refreshg
price touch my second buy limit order at 1.6100 and go up. i have 2 position

-3 and +20 target 1.6151


dont forget to adjust your stops then.

Jonas , gl
Hero calls followed by margin calls...
  • #519
  • Jun 22, 2011 9:43am Jun 22, 2011 9:43am
close my positions. nice +44 green pip.

Georgia
  • #520
  • Jun 22, 2011 10:07am Jun 22, 2011 10:07am
Quoting refreshg
close my positions. nice +44 green pip.

nice one.

keep on

Jonas

Hero calls followed by margin calls...
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