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  • #2,461
  • Aug 3, 2011 7:10am Aug 3, 2011 7:10am
Quoting Abouelzelouf
this is how you should post a chart. and we will all like it.
Yeah,I am not a good teacher But I am believe everyone should have a different chart,like trading system.As long can makes money and survive in the market
Btw nice chart
  • #2,462
  • Aug 3, 2011 7:25am Aug 3, 2011 7:25am
Quoting TrendTraders
Yeah,I am not a good teacher But I am believe everyone should have a different chart,like trading system.As long can makes money and survive in the market
Btw nice chart
all what I meant is you to post the chart with the numbers on the right side and the date down so people understand.
  • #2,463
  • Aug 3, 2011 7:29am Aug 3, 2011 7:29am
Why this last news had no influence on the market?
  • #2,464
  • Aug 3, 2011 7:37am Aug 3, 2011 7:37am
Quoting Abouelzelouf
all what I meant is you to post the chart with the numbers on the right side and the date down so people understand.
Thank You


Trade Well & Cheers
  • #2,465
  • Aug 3, 2011 7:55am Aug 3, 2011 7:55am
Quoting Jeka
Why this last news had no influence on the market?
not all the news have big effect on the market.
the news came with small deviation to what was expected so it was little good, and they had revision for last month number down equal to the positive of this month's number.
  • #2,466
  • Aug 3, 2011 8:18am Aug 3, 2011 8:18am
Quoting Jeka
Why this last news had no influence on the market?
ISM Non-Manufacturing comes ( last meaningful one for the day ) out at 10:00 a (EST). I figure many are waiting on that one as well before they fully commit one way or another.

No hurry here.
  • #2,467
  • Aug 3, 2011 9:07am Aug 3, 2011 9:07am
Well, the market nearly fixed what SNB broken this morning That's true fun !
We are back on the 0.7625 level in few minutes, and probably some under.
  • #2,468
  • Aug 3, 2011 9:23am Aug 3, 2011 9:23am
is it safe to long now?
  • #2,469
  • Aug 3, 2011 9:33am Aug 3, 2011 9:33am
I hate to say ( i told you so) i will wait until the low is broken, that is if it is broken at 76055.

Trading corrective swings requires real market knowledge other wise they can be pretty nasty, there are some sweet spots where money can be made from them just like trend swings but otherwise they will send the price up and down like crazy,corrective swings are the battle area but more often than not they are time for the big boys to accumulate all the novice traders going the opposite way in readiness for another push in the direction of the trend.


pip
Follow The Markets Structure - Patience and Discipline
  • #2,470
  • Aug 3, 2011 9:34am Aug 3, 2011 9:34am
Nice intervention.....looks more like a fart in the wind...
Don't be fooled by randomness
  • #2,471
  • Aug 3, 2011 9:40am Aug 3, 2011 9:40am
Quoting endyfor
is it safe to long now?
Well it all depends on what your definition of safe is?

If you are worried about a couple of thugs showing up at your door stoop with baseball bats and guns....then it is safe.

If you are concerned about loosing money then I would say no.

This seemingly never ending downtrend has shown no signs of halting. If you are looking for signs of a turn around ....under this current climate....I do not see it.

Be patient.

We will see parity again.

Could take a couple of years though.
  • #2,472
  • Aug 3, 2011 9:58am Aug 3, 2011 9:58am
Quoting Astroman
Well it all depends on what your definition of safe is?

If you are worried about a couple of thugs showing up at your door stoop with baseball bats and guns....then it is safe.

If you are concerned about loosing money then I would say no.

This seemingly never ending downtrend has shown no signs of halting. If you are looking for signs of a turn around ....under this current climate....I do not see it.

Be patient.

We will see parity again.

Could take a couple of years though.
100% agree
  • #2,473
  • Aug 3, 2011 10:31am Aug 3, 2011 10:31am
I find the price action on this pretty crazy. Like bursts of movements. You can make a lot on the 1m or get blown up.
  • #2,474
  • Aug 3, 2011 10:58am Aug 3, 2011 10:58am
Quoting Astroman
ISM Non-Manufacturing comes ( last meaningful one for the day ) out at 10:00 a (EST). I figure many are waiting on that one as well before they fully commit one way or another.

No hurry here.
Is there a good table, which tells how many pips I can have with this deviation

May be it's a bit stupid to ask this, but I'm not long here and have no practice with "news trading", because of my teachers.
  • #2,475
  • Aug 3, 2011 12:12pm Aug 3, 2011 12:12pm
Quoting Jeka
Is there a good table, which tells how many pips I can have with this deviation

May be it's a bit stupid to ask this, but I'm not long here and have no practice with "news trading", because of my teachers.
I do not think it is a stupid question at all. I do not trade "the news" but I do keep my own data on it; price 10 minutes before release, release price, initial spike if any, retrace, price 2 hours later, and the High and low during those two hours.

Unfortunately, for your question, I track the USD/JPY for U.S. news releases.

But with the USD/JPY Pair this release can produce big movements with very small deviations.
  • #2,476
  • Aug 3, 2011 12:22pm Aug 3, 2011 12:22pm
Another note, as far as trading the news on the USD/JPY Pair. If there is a fairly good initial spike and are waiting for a retracement to enter a trade in the direction of the initial spike, FIBO levels hold up pretty good as an area to enter.

keep in mind I only have 9 months of data.

What holds true for today may very well not hold up 5 months from now. The old mistress of the markets like to throw them curve balls at you just right when you think you are on to something.

  • #2,477
  • Aug 3, 2011 1:22pm Aug 3, 2011 1:22pm
Have a feeling this one is going to make a quick little move. Only problem it could be up or down.

I know that sounds like BS but (either way how can I be wrong)?

just a scalp. using TL on 5 M. price is being squeezed (down and up TL) to where it will make a movement.

0.7676 at the moment.
  • #2,478
  • Aug 3, 2011 1:27pm Aug 3, 2011 1:27pm
At the bottom of the lower Kettner Channel as well.
  • #2,479
  • Aug 4, 2011 2:16am Aug 4, 2011 2:16am
Is anybody else who see this technical figure(head and shoulders) now?
  • #2,480
  • Aug 4, 2011 2:46am Aug 4, 2011 2:46am
the "technical term" is called a W formation

current 4HR TF needs to break the start of the 2nd leg, then watch it climb

Quoting Jeka
Is anybody else who see this technical figure(head and shoulders) now?
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