Spectre's Corner

boxing in a 'mind trade'......buying in one pair and holding back another pair.......GBP/USD made a new tick high...yet EUR/USD did not.....its a boX!...those sucked into EUR/USD during the GBP/USD run, get trapped..as GBP/USD countertrends the spike..then EUR/USD sells off.



oi...........lets rock! more java...more java!

Just wanted to let you know that Im following your forex adventures! Im still a very green noob, just trying to understand the markets!

Ive seen the term "box" before, but never understood it. What exactly does it mean?

Btw, Aud/Usd is right at its recent highs and it appears to have a compression wedge forming while it lingers around the highs. Do you think this has any relationship with the fact that gbp/usd is at its highs as well. Aud had another rate increased tonight, but Im wondering if there is a connection regarding the highs.

I used the term as a box.. to refer to it as a trap...Basically you have no where to go. I'm sure the term box is used in other ways in trading.

If you think EUR/USD is going to make a new tick high.. you can play it here..
..but careful.. more serious selling pressure in other pairs has to materialize of USD>

..the past few sessions have been spike, counter spike.. basically wiping out stops on both sides of the trade..yet expanding the ranges..

woo hoo...

I'm heading out.... get out of your positions before the rate news from ECB BOE.

chris

Last bit of advice before I leave, wait for the EURO .....GBP to settle down and assess the situation before placing a trade...after the rate news is out.

A nice technique would be to place sell and buy order 40-50 pips outside current ranges.. and wait for them to trigger on spikes and counter spikes..Everything seems to be in a tight trading bands..

chris

I'm placing sell orders at 1.2828.....eur/usd.....low risk/reward trade...

Placing buy order on usd/jpy at 114.14.........

I'm selling gbp/usd now.............sell sell...lol.

Your brave!!

With the BOE Interest Rate Statement and ECB Interest Rate Statement coming out in the morning might get hit real fast..

I'm sitting on the side until the data comes..

stop loss on a sell at 1.878.....10 pips...cover.. at 1.8750....risk/reward ratio 1:5... not bad...oi.....

1:3 ...not 1:5...

brave?... its just math when it comes down to it.....

I agree but when it whip saws like it could do u could get in and stop real quick.

But from ur post it looks like u know what ur doing "Keep the post come its great"!!!

dont you like selling market tops.. =)

whats the difference... between a series of numbers?


3 5 6 8 99 00 20 00 22 32

the market gives importance to certain numbers, when in actuality there is no difference between them.. thats the whole basis behind price action..