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  • #843,321
  • Oct 13, 2013 4:30pm Oct 13, 2013 4:30pm
Quoting Likerty
{quote} S/D is defined in a range of a spread basically and larger distances is just projections - this never ending game in between the smart and the dumb money.
Just to be clear, I was referring to "real" supply and demand, as in real demand for Euros for both commercial and speculative purposes priced based on the current actual supply levels. I was not referring to the trading concept.
Those who say it cannot be done should not interrupt those who are doing it
  • #843,322
  • Oct 13, 2013 4:32pm Oct 13, 2013 4:32pm
Quoting Boy Wonder
The markets are not open 24/7.
Currency exchange markets are 24/7.
Anybody who tells you any different needs to go back and do some real research.
Those who say it cannot be done should not interrupt those who are doing it
  • #843,323
  • Oct 13, 2013 4:36pm Oct 13, 2013 4:36pm
Quoting Miguel.N
is that possible as well !? {image}
Anything is possible. Murphy's Law says that if you buy, price will drop and if you sell, price will rally. However, because anything is possible, then Murphy's Law could be wrong

ADD: I like your projection. I went short at 1.3593 and I am looking for a move down to around 1.3445 before deciding my next move.
Those who say it cannot be done should not interrupt those who are doing it
  • #843,324
  • Oct 13, 2013 4:37pm Oct 13, 2013 4:37pm
Quoting PipTrapper
{quote} Currency exchange markets are 24/7. Anybody who tells you any different needs to go back and do some real research.
Forex is not open 24/7; to suggest otherwise is bordering on ridiculous.
I have no clue what I'm talking about.
  • #843,325
  • Oct 13, 2013 4:38pm Oct 13, 2013 4:38pm
Quoting gatorinla
{quote} commerce takes place all over the world 24/7.
If you think "commerce" == "the forex market" then perhaps you ought to buy a dictionary.
I have no clue what I'm talking about.
  • #843,326
  • Oct 13, 2013 4:38pm Oct 13, 2013 4:38pm
Quoting PipTrapper
{quote} Currency exchange markets are 24/7. Anybody who tells you any different needs to go back and do some real research.
Every market is 24/7, but the issue is can we trade 24/7? For example, market is open now (or like you said it never closes) but to me it will be Tuesday London Open that counts. I don't say I wont be trading before that, but its not prudent to do so.
The Thief of Wall Street
  • #843,327
  • Oct 13, 2013 4:41pm Oct 13, 2013 4:41pm
Quoting Chicky
{quote} Every market is 24/7, but the issue is can we trade 24/7? For example, market is open now (or like you said it never closes) but to me it will be Tuesday London Open that counts. I don't say I wont be trading before that, but its not prudent to do so.
Agreed. Until then, we're probably in for some low liquidity volatility, so no point in initiating any new positions.
Those who say it cannot be done should not interrupt those who are doing it
  • #843,328
  • Oct 13, 2013 4:42pm Oct 13, 2013 4:42pm
Quoting Chicky
{quote} Every market is 24/7, but the issue is can we trade 24/7? For example, market is open now (or like you said it never closes) but to me it will be Tuesday London Open that counts. I don't say I wont be trading before that, but its not prudent to do so.
No one can deny importance of session Opens and Closes. Market moves at these times for a reason.
The Thief of Wall Street
  • #843,329
  • Oct 13, 2013 4:42pm Oct 13, 2013 4:42pm
Quoting Chicky
{quote} Every market is 24/7, but the issue is can we trade 24/7? For example, market is open now (or like you said it never closes) but to me it will be Tuesday London Open that counts. I don't say I wont be trading before that, but its not prudent to do so.
why Tuesday's london open and not mondays?
  • #843,330
  • Oct 13, 2013 4:44pm Oct 13, 2013 4:44pm
Quoting JeremyWS
{quote} why Tuesday's london open and not mondays?
I will be out visiting grave of my great great grand father the great who invented America.
The Thief of Wall Street
  • #843,331
  • Oct 13, 2013 4:46pm Oct 13, 2013 4:46pm
Quoting Chicky
{quote} I will be out visiting grave of my great great grand father the great who invented America.

umm... ok. but America being closed tomorrow doesn't mean that london isn't going to trade.
  • #843,332
  • Oct 13, 2013 4:47pm Oct 13, 2013 4:47pm
Quoting Boy Wonder
{quote} If you think "commerce" == "the forex market" then perhaps you ought to buy a dictionary.
Yes, your broker is closed for the weekend and the retail markets cannot exchange anything.
However, if a Bank in Singapore makes an agreement to buy some US Dollars from a bank in the US at 7pm on Saturday evening, the transaction is completed. Mind you, it is extremely unlikely that any interbank repricing will take place until the major market makers get comfy at their terminal with their hot cup of java.
Those who say it cannot be done should not interrupt those who are doing it
  • #843,333
  • Oct 13, 2013 4:47pm Oct 13, 2013 4:47pm
Quoting Chicky
{quote} I will be out visiting grave of my great great grand father the great who invented America.
You saw the Friday NY close, now wait and tell me what you see at Tuesday London Open.
The Thief of Wall Street
  • #843,334
  • Oct 13, 2013 4:48pm Oct 13, 2013 4:48pm
Quoting JeremyWS
{quote} umm... ok. but America being closed tomorrow doesn't mean that london isn't going to trade.
With whom?
The Thief of Wall Street
  • #843,335
  • Oct 13, 2013 4:50pm Oct 13, 2013 4:50pm
Quoting Kanzler
{quote} I take it you absolutely know where the market's going to turn then? Let me re-post a little story I read some time ago, courtesy of Mark Douglas via a quote of Hanover's. A capable analyst who was hired by a firm. The analyst explained to his new boss how he could predict turning points by using support and resistance levels. When soybeans price reached a major support level, his boss said to him "OK, what you're saying is that price can go no lower, right?" The analyst said "Absolutely. This is the low of the day". His boss immediately...
You are so Harsh.............!

I never said I can pick turning points.....

I can tell the gentle nature of PA turning and it's limits.........

It would help you, get me out of your head by Ignoring me and yes I have seen your story before................

So many Polite traders we have here at FF...................IMO
The More You Learn, The More You Earn.....
  • #843,336
  • Oct 13, 2013 4:51pm Oct 13, 2013 4:51pm
I have to run out for some beer, hold the market till I get back ok.
Attached Image (click to enlarge)
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  • #843,337
  • Oct 13, 2013 4:51pm Oct 13, 2013 4:51pm
Quoting JeremyWS
{quote} umm... ok. but America being closed tomorrow doesn't mean that london isn't going to trade.
The whole world is trading now and tomorrow (Today for East Asians), but liquidity will be very low. Without sufficient liquidity, it's not worth trading unless you feel like gambling.
Those who say it cannot be done should not interrupt those who are doing it
  • #843,338
  • Oct 13, 2013 4:52pm Oct 13, 2013 4:52pm
Quoting Chicky
{quote} With whom?
London is the only session that overlaps with both Tokyo and NY. Don't know about others, but to me, trading is not in play on a day when any one of these three are off.
The Thief of Wall Street
  • #843,339
  • Oct 13, 2013 4:52pm Oct 13, 2013 4:52pm
Quoting Chicky
{quote} With whom?
London. why would they have to trade with another geographical location? that just doesn't make sense. It doesn't even have to be another company in London. There have been many times when I watched trades at DB being counter-partied by another DB desk.
  • #843,340
  • Oct 13, 2013 4:53pm Oct 13, 2013 4:53pm
Quoting Chicky
{quote} London is the only session that overlaps with both Tokyo and NY. Don't know about others, but to me, trading is not in play on a day when any one of these three are off.
APAC doesn't really matter in terms of volume, neither really does the US
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