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  • #839,981
  • Oct 2, 2013 12:13pm Oct 2, 2013 12:13pm
Quoting pawpaw1000
{quote} Shouldn't have much effect on the market?
no it won't, neither of them contribute much to the FX markets
  • #839,982
  • Oct 2, 2013 12:13pm Oct 2, 2013 12:13pm
Quoting hoom
money flowing to nzd doing to euro and usd uncertainty...
Agree.
  • #839,983
  • Oct 2, 2013 12:15pm Oct 2, 2013 12:15pm
Quoting JeremyWS
{quote} no it won't, neither of them contribute much to the FX markets
Well I have seen the aussie reacting pretty strongly to economics numbers from China...
Make your losses in demo. Earn your profits live.
  • #839,984
  • Oct 2, 2013 12:17pm Oct 2, 2013 12:17pm
Quoting Forexia
{quote} Well I have seen the aussie reacting pretty strongly to economics numbers from China...
Yes, but Chinese numbers and China being on holiday have nothing to do with each other....

Combined Germany and China account for 2.4% of the FX markets. an insignificant amount.
  • #839,985
  • Oct 2, 2013 12:24pm Oct 2, 2013 12:24pm
Quoting pawpaw1000
{quote} Shouldn't have much effect on the market?
edit that one http://www.forexfactory.com/showthre...04#post7002504
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #839,986
  • Oct 2, 2013 12:33pm Oct 2, 2013 12:33pm
Nothing, Bernanke speech is a standard opening ceremonial.
Don't blame the tools. Blame the carpenter.
  • #839,987
  • Oct 2, 2013 12:38pm Oct 2, 2013 12:38pm
Quoting KecoaKecil
Nothing, Bernanke speech is a standard opening ceremonial.
""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""

do not expect much
  • #839,988
  • Oct 2, 2013 12:40pm Oct 2, 2013 12:40pm
Quoting kumaramy
{quote} I usually don't trade on USDJPY But here what I tell you is I use trendlines but more than that I believe in finding critical area rejections with Horizontal lines. In below Image USDJPY is near rejections lime horizontal line as well as very close to both trendlines. In this type of situation, I usually let something happen, try to understand what price is doing, look for rejections, confirmations, etc and then trade as soon as the action starts. {image}
hi kumaramy,

it seems you did not check out the charts i posted when i took the trade i do not take any trade unless it meets my entry rules! check the chart for your reference.

notice the yellow line in the updated chart, PA got clearly rejected at the price i entered, however, i did not like the PA in the lower time frame (15 mins) with weakness so decided to take the profit.

below the quote when taking the trade:

Quoting fxmasterdxb
hello fellow traders, I have taken two positions few moments back, first one EUR/USD short @ 1.3599, SL @ 1.3630 and TP @ 1.3565 based on the trend line shown in the attached. Second position is USD/JPY long @ 97.27, SL @ 97.00 and TP @ 97.66 as the trend line (drawn in yellow) has been providing a decent resistance so far as show in the attached. Good Luck all! {image} {image}
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UJ210.gif Size: 21 KB
Click to Enlarge Name: UJ210 update.gif Size: 21 KB
  • #839,989
  • Oct 2, 2013 1:00pm Oct 2, 2013 1:00pm
Quoting JeremyWS
{quote} no it won't, neither of them contribute much to the FX markets

it doesn't take much for them to fart 100 pips
those who can, do. those who cant, talk about those who can
  • #839,990
  • Oct 2, 2013 1:01pm Oct 2, 2013 1:01pm
Quoting kuroro001
{quote} You must be the first trader i know buying pin bar on new highs.

thats what i was thought but then we have 2 reasons.. here are 2 more

previous week bar was at best negligible + closed over the high of pin bar of the previous bear rally

also, people are only playing with 1.36 level they're not serious about it, it was not a complete rejection + no retracing of any kind

only thing left is a close over daily pin bar and 1.3600 maybe after testing 1.356/355
A trade should be based on an assumption based on facts
  • #839,991
  • Oct 2, 2013 1:10pm Oct 2, 2013 1:10pm
Quoting gatorinla
{quote} it may take weeks/ months.. never.... closed the other for a 50 buck move, gold. looking to short it again... after the 1362 bounce. {image}

up 35 since closed
those who can, do. those who cant, talk about those who can
  • #839,992
  • Oct 2, 2013 1:14pm Oct 2, 2013 1:14pm
Quoting gatorinla
{quote} it doesn't take much for them to fart 100 pips
Yes it does.
  • #839,993
  • Oct 2, 2013 1:14pm Oct 2, 2013 1:14pm
Quoting JeremyWS
{quote} Yes, but Chinese numbers and China being on holiday have nothing to do with each other.... Combined Germany and China account for 2.4% of the FX markets. an insignificant amount.

how does that compare to oil? in 200x any oil fart moved the eu hundreds.
those who can, do. those who cant, talk about those who can
  • #839,994
  • Oct 2, 2013 1:16pm Oct 2, 2013 1:16pm
Quoting gatorinla
{quote} how does that compare to oil? in 200x any oil fart moved the eu hundreds.
Cross asset correlation, it wasn't Oil causing the USD moves. It was the global macro numbers that affected both simultaneously. Consider Arab spring and subsequent Oil moves - had no impact on FX.
  • #839,995
  • Oct 2, 2013 1:17pm Oct 2, 2013 1:17pm
Quoting JeremyWS
{quote} Yes it does.

maybe not in the last 3-4 years. i promise u, it has in the recent past.
those who can, do. those who cant, talk about those who can
  • #839,996
  • Oct 2, 2013 1:19pm Oct 2, 2013 1:19pm
Quoting JeremyWS
{quote} Cross asset correlation, it wasn't Oil causing the USD moves. It was the global macro numbers that affected both simultaneously. Consider Arab spring and subsequent Oil moves - had no impact on FX.

no man.. a single blown up oil pipe line and the rocket launched at least 1/2 dozen times in 2007/08, i was in the markets and watched it.
those who can, do. those who cant, talk about those who can
  • #839,997
  • Oct 2, 2013 1:20pm Oct 2, 2013 1:20pm
Quoting gatorinla
{quote} maybe not in the last 3-4 years. i promise u, it has in the recent past.
During 2007/08 ramp? I'm not so sure it was the Oil price affecting the EUR or whatever
  • #839,998
  • Oct 2, 2013 1:22pm Oct 2, 2013 1:22pm
a spear was thrown on a buddies job.. and it was reported as an attack.. oil went up 5 bucks.. along with the euro
those who can, do. those who cant, talk about those who can
  • #839,999
  • Oct 2, 2013 1:37pm Oct 2, 2013 1:37pm
Quoting gatorinla
{quote} it went up 10$ "i guess thats possible .. but i dont have a couple hundred billion to move market. it would be much easier to do it through oil.. by having a terrorist blow up a pipeline.. or a big oil company just saying it..even it it didnt happen.. a friend of mine works in oil industy.. he wasnt there when incident happend but he had to install a wall in front a exit door on a construction trailor. constuction trailor was for a pipline being built. they keep a fence around the workers as pipeline is being built. anyway my buddy was...

Oil in EURs.

Note how it wasn't flat for 2007/08...
Attached Image (click to enlarge)
Click to Enlarge Name: Oil in EUR.png Size: 68 KB
  • #840,000
  • Oct 2, 2013 2:10pm Oct 2, 2013 2:10pm
Quoting gatorinla
{quote} i thought we were talking about eu,, of course oil was flat verses the euro (comparable). that's the point. oil verses the usd was a direct reflection on the eu... the catalyst for the spikes was oil related.. oil news... attacks, shutdowns etc.
yeah, that chart shows that there was no impact on EU, as Oil is priced in USD, when converted to EUR it should be flat if the EURUSD and oil do the same thing. Simple Maths

I should add, if EURUSD was a direct reflection of oil then this chart would not change and stay flat.
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