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  • #3,821
  • Apr 3, 2014 5:36pm Apr 3, 2014 5:36pm
FXCM Dollar Index
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If you think you can or cannot do it you are correct
  • #3,822
  • Apr 3, 2014 5:54pm Apr 3, 2014 5:54pm
Quoting Olu
FXCM Dollar Index {image}
sorry to ask - as i am not good in using index.
refer to your above 2 daily dollar index - how come both charts are not identical?
(the 1st one is seemed positive to traders)
thanks for your time.
cheers
  • #3,823
  • Apr 3, 2014 5:56pm Apr 3, 2014 5:56pm
usdcad
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If you think you can or cannot do it you are correct
  • #3,824
  • Apr 3, 2014 6:05pm Apr 3, 2014 6:05pm
Quoting tlpfx14
{quote} sorry to ask - as i am not good in using index. refer to your above 2 daily dollar index - how come both charts are not identical? (the 1st one is seemed positive to traders) thanks for your time. cheers

Hi TlpFx14

The 2 charts depict the price action of the $ against a basket of other major currencies. They are different because of the composition of the basket.

The FXCM dollar index is an index created by FXCM the forex brokers and is only on their platform. In their index the indivitual major currencies in the basket have a similar weighting.

The USDollar Index is another index created by the futures exchange CME and can be traded as a futures contract. The euro is about 45% of this index and all the other just get a look in.

That is why they look different.

Olu
If you think you can or cannot do it you are correct
  • #3,825
  • Apr 3, 2014 6:41pm Apr 3, 2014 6:41pm
Gold Long Term

If price smells 1375 I will sell and hold for sub 1000 area
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If you think you can or cannot do it you are correct
  • #3,826
  • Apr 3, 2014 7:02pm Apr 3, 2014 7:02pm
Quoting Olu
Crude Oil {image}
Nice analysis Olu.
If I were to try shorting, I'd try this zone first with a SL just above zone.
Could be wrong :-)
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  • #3,827
  • Apr 4, 2014 2:35am Apr 4, 2014 2:35am
Quoting srt
{quote} Nice analysis Olu. If I were to try shorting, I'd try this zone first with a SL just above zone. Could be wrong :-) {image}
Thanks for your kind words Srt. You are right about selling from higher as pricer is moving higher now. My whole plan/idea for a strong downmove is based on the 102.20 high not being taken out. So if we get close to there I will shoot one more short with a small stop above that area.
If you think you can or cannot do it you are correct
  • #3,828
  • Apr 4, 2014 3:12am Apr 4, 2014 3:12am
Quoting Olu
{quote} Hi TlpFx14 The 2 charts depict the price action of the $ against a basket of other major currencies. They are different because of the composition of the basket. The FXCM dollar index is an index created by FXCM the forex brokers and is only on their platform. In their index the indivitual major currencies in the basket have a similar weighting. The USDollar Index is another index created by the futures exchange CME and can be traded as a futures contract. The euro is about 45% of this index and all the other just get a look in. That is...
Thanks, mate.
I understand now that any composition of (dollar) index is depending on the service provider

Cheers
  • #3,829
  • Apr 4, 2014 5:32am Apr 4, 2014 5:32am
Crude Oil

I am seeing more strength than expected in this commodity. Price has climbed to the 61.8% fib retracement of the prior downmove. This is another common fib area for reversal. We will have to wait and see how this plays out. My position has been closed for a loss. I am thinking of lurking below 100.25 for a continuation of my idea after it has done all its manoeuvres to the upside. But if 102 high is taken out the whole downside idea is wrong. I am also thinking of selling as close as possible to the 102 high with a small stop to still follow the idea up. Today being a big data day might mean leaving things alone for the weekend analysis

Olu
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  • #3,830
  • Apr 5, 2014 11:44am Apr 5, 2014 11:44am
EurAud
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  • #3,831
  • Apr 5, 2014 11:45am Apr 5, 2014 11:45am
UsdJpy
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  • #3,832
  • Apr 5, 2014 11:46am Apr 5, 2014 11:46am
Gold Weekly
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  • #3,833
  • Apr 5, 2014 11:46am Apr 5, 2014 11:46am
EurJpy Daily
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If you think you can or cannot do it you are correct
  • #3,834
  • Apr 5, 2014 11:47am Apr 5, 2014 11:47am
Nasdaq 100
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  • #3,835
  • Apr 5, 2014 11:55am Apr 5, 2014 11:55am
July NY Cocoa
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  • #3,836
  • Apr 5, 2014 12:06pm Apr 5, 2014 12:06pm
June Hogs
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  • #3,837
  • Apr 5, 2014 12:25pm Apr 5, 2014 12:25pm
Coffee
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If you think you can or cannot do it you are correct
  • #3,838
  • Apr 5, 2014 1:12pm Apr 5, 2014 1:12pm
Crude Oil
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If you think you can or cannot do it you are correct
  • #3,839
  • Apr 5, 2014 10:49pm Apr 5, 2014 10:49pm
Quoting Olu
Crude Oil {image} {image}
imho
crude oil is seemed ready to move north next week due to the PB closed last friday.
she in fact made a pull back 2-3 weeks ago, based on 20 MA, before the PB.
http://www.forexfactory.com/showthre...01#post7386201

i can't seem to get the bottom chart of yours in mt4?
is she an index?

cheers
  • #3,840
  • Apr 6, 2014 1:18am Apr 6, 2014 1:18am
Hi Olu

great analysis. To support your EURJPY idea, Im adding possible Gartley setup forming on daily chart. if this pattern will play out, we could possible see area D around 133.50 as long term target for shorts
regards
Formaxinvest
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