Scroll up 4 posts you lazy bastard .
Released here ; http://www.fxstreet.com/fundamental/economic-calendar/
- #48,942
- Jul 9, 2012 9:02pm Jul 9, 2012 9:02pm
- Joined Mar 2007 | Status: Symbol | 2,788 Posts
FF journal: Peaks and Troffs
- #48,943
- Jul 9, 2012 9:04pm Jul 9, 2012 9:04pm
- | Joined Jan 2009 | Status: Trader | 1,392 Posts
well what is it red or green ...fxstreet red...forex factory green..
- #48,945
- Jul 9, 2012 9:06pm Jul 9, 2012 9:06pm
- | Joined Jan 2009 | Status: Trader | 1,392 Posts
well what is it red or green ...fxstreet red...forex factory green..
...now they're both green ...who running this circus...
- #48,946
- Jul 9, 2012 9:11pm Jul 9, 2012 9:11pm
- Joined Jan 2005 | Status: ~ Noblesse Oblige ~ | 1,663 Posts
Mate, it's only Monday...
There are those who know, and there are those who don't know.
from: Bloomberg
http://www.bloomberg.com/image/iagPNVvPp3qo.jpg
The utilities have 91 million metric tons in reserve and stockpiles at the largest ports come to more than 90 percent of capacity, according to the China Coal Transport & Distribution Association and SteelHome, a Shanghai-based research company.
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I guess that explains how AUD broke through support levels like nobody's business
- #48,952
- Jul 9, 2012 10:05pm Jul 9, 2012 10:05pm
- Joined Jan 2005 | Status: ~ Noblesse Oblige ~ | 1,663 Posts
There are those who know, and there are those who don't know.
- #48,954
- Jul 9, 2012 10:16pm Jul 9, 2012 10:16pm
- Joined Jan 2005 | Status: ~ Noblesse Oblige ~ | 1,663 Posts
I could be wrong. Basing it on Elliott Wave theory. Saying that 1.0156 is the bottom of wave 1 with 1.0211 is the top. I'm fairly new so, if you do the opposite of what I say then you should be good. =)
we we're all new once.. By getting down and dirty, that's how you learn what work's and dosn't. Keep at it, don't let it beat you down. You'll progress in time and you'll do good.
On a side note.. Technicals are good, but understand the market is based on demand.. So even if indicators are saying one thing, but you have another going on thats, because of demand.. Right now demand is low and heavily is biased on selling.. at the bottom of this sell there is buyers who wait for the sellers to grab their profit and let go so that they can buy it back up again..
With that said, if the selling becomes to heavy then more jump on it demand picks up and the buyers that are waiting.. they won't be able to outmach the sell and the trend continues down.. Right now, this moment, I am not seeing that, but at the same time.. You don't know what's going to happen.. yesterday the currency traded below average today it might make up for it..
So just a few notes..
There are those who know, and there are those who don't know.
- #48,955
- Jul 9, 2012 10:22pm Jul 9, 2012 10:22pm
Does this mean they have too much spare production capacity, a sign of weak global demand?
... about china have lot spare capacity production, it is an old news, i already know it from Q4 2011.
I guess that explains how AUD broke through support levels like nobody's business
i think its better idea to trade with impact of lastest PBOC policy.
You are correct. I was throwing that out there what I saw. Granted the demand wasn't factored in so take it with a grain of salt.
i don't want to share too much my opinion.
... about china have lot spare capacity production, it is an old news, i already know it from Q4 2011.
i think its better idea to trade with impact of lastest PBOC policy.
I'm actually new to fundamentals because I've never actually actively paid attention to world economic news until I started trading so some old news to me is new news ><I'll go check out PBOC
