Wow, just wow.....I didn't even know this was possible. lol
- #15,287
- Jan 11, 2015 12:15pm Jan 11, 2015 12:15pm
{quote} Thank you dino...... Still trading away, and working as a technical analyst for several companies. Funny how things happen......never really thought that Forex would become my career. Chris
- #15,289
- May 25, 2015 2:04pm May 25, 2015 2:04pm
- | Commercial User | Joined May 2007 | 7,685 Posts
Been forever, the work never stops I guess. (I am currently doing something like 28 videos a day on average, mainly analysis.)
Any way - here is a favorite of mine at the moment: The Nikkei 225.....
Check out this weekly chart, with the 6 month, 12 month, and 24 month EMA's. We just broke over the 20,000 yen level, and I think we are breaking out towards the 25,000 yen level eventually. The Bank of Japan will almost undoubtedly add liquidity to the markets, and this will move money from bonds into the stock markets. (Although who in the hell is buying JGB's besides the BoJ is beyond me.)
There are a lot of ways to play this........futures, ETF's, etc.
I like it a lot myself.
Chris
Any way - here is a favorite of mine at the moment: The Nikkei 225.....
Check out this weekly chart, with the 6 month, 12 month, and 24 month EMA's. We just broke over the 20,000 yen level, and I think we are breaking out towards the 25,000 yen level eventually. The Bank of Japan will almost undoubtedly add liquidity to the markets, and this will move money from bonds into the stock markets. (Although who in the hell is buying JGB's besides the BoJ is beyond me.)
There are a lot of ways to play this........futures, ETF's, etc.
I like it a lot myself.
Chris
- #15,291
- May 28, 2015 4:58pm May 28, 2015 4:58pm
- | Commercial User | Joined May 2007 | 7,685 Posts
Thanks mate...
As you can see, we are still hanging about and over the 25000 level. I think that the Nikkei is a decent way to go in the global stock markets simply because it is "somewhat" insulated from Europe. In other words, if Paris loses 3% tomorrow, Tokyo might only lose 1%. That's the theory anyway.
I am now interested in gold for a short-term trade higher.
As you can see, we are still hanging about and over the 25000 level. I think that the Nikkei is a decent way to go in the global stock markets simply because it is "somewhat" insulated from Europe. In other words, if Paris loses 3% tomorrow, Tokyo might only lose 1%. That's the theory anyway.
I am now interested in gold for a short-term trade higher.
- #15,292
- May 28, 2015 6:08pm May 28, 2015 6:08pm
- | Commercial User | Joined May 2007 | 7,685 Posts
Looking around the markets, the CAD/JPY pair is one that I find interesting. We are presently below the 100 level, and as you know it is a psychologically significant level. Breaking above there would be a bit of a coup for the bulls. The chart also has a 50 day EMA on it, and we have seen this level effect the CAD/JPY before.
Keep in mind that the oil markets can greatly influence this pair, as the Japanese import 100% of their oil. Also, the XXX/JPY pairs are all pressing significant resistance. (Such as USD/JPY testing the 125 region.)
If we close above 100 - I am long....
Keep in mind that the oil markets can greatly influence this pair, as the Japanese import 100% of their oil. Also, the XXX/JPY pairs are all pressing significant resistance. (Such as USD/JPY testing the 125 region.)
If we close above 100 - I am long....
- #15,293
- May 29, 2015 7:49am May 29, 2015 7:49am
- | Commercial User | Joined May 2007 | 7,685 Posts
With the Canadian GDP shrinking today....this could be a good set up waiting to happen:
- #15,295
- May 30, 2015 8:24am May 30, 2015 8:24am
- | Commercial User | Joined May 2007 | 7,685 Posts
Watching 10 year notes. Seems demand is dropping for US bonds. This can lead to a lack of demand for the Dollar. This can translate into the Forex markets as well....
Looking at the Forex markets, I think we are about to see a corresponding move in the US Dollar to the ten year. I see a drop to the support line in the bond market, and a similar move in at least three markets: The USD/CAD, EUR/USD, and GBP/USD. Of course, anything can happen, but this is the best we can do: play the best percentages...
10 year:
USD/CAD:
EUR/USD:
GBP/USD:
Looking at the Forex markets, I think we are about to see a corresponding move in the US Dollar to the ten year. I see a drop to the support line in the bond market, and a similar move in at least three markets: The USD/CAD, EUR/USD, and GBP/USD. Of course, anything can happen, but this is the best we can do: play the best percentages...
10 year:
USD/CAD:
EUR/USD:
GBP/USD:
- #15,298
- Jun 2, 2015 4:36pm Jun 2, 2015 4:36pm
Watching 10 year notes. Seems demand is dropping for US bonds. This can lead to a lack of demand for the Dollar. This can translate into the Forex markets as well.... Looking at the Forex markets, I think we are about to see a corresponding move in the US Dollar to the ten year. I see a drop to the support line in the bond market, and a similar move in at least three markets: The USD/CAD, EUR/USD, and GBP/USD. Of course, anything can happen, but this is the best we can do: play the best percentages... 10 year: {image} USD/CAD: {image} EUR/USD: {image}...
kudos Chrishttp://www.zerohedge.com/sites/defau...50602_EUR2.jpg
Free speech is an oxymoron
First of all Clockwork I have to thank you for this amaizing thread and the fact that you are still here makes it even better! I think i talk on the name of everyone here haha 
Since i am just on the page 65 of this thread.. I would like to ask if anything changed from the way you used to trade compared to the way to trade now. I mean.. looking for weekly S/R.. from there look for Pinbars, outside bars.. price action on Daily and H4 to determine an entry.
Of course I will still read it all.
Thanks
Since i am just on the page 65 of this thread.. I would like to ask if anything changed from the way you used to trade compared to the way to trade now. I mean.. looking for weekly S/R.. from there look for Pinbars, outside bars.. price action on Daily and H4 to determine an entry.
Of course I will still read it all.
Thanks
- #15,300
- Jun 12, 2015 8:14pm Jun 12, 2015 8:14pm
- | Commercial User | Joined May 2007 | 7,685 Posts
First of all Clockwork I have to thank you for this amaizing thread and the fact that you are still here makes it even better! I think i talk on the name of everyone here haha
Anyway, I find that the more I trade, the less I trade if that makes sense. The longer-term charts continue to be the guidepost that I follow, with the major support and resistance levels being the most important part of it all. If you have enough pairs to trade - even looking for the most major levels will give you enough trades.
However, there is something that I must reiterate and perhaps expand upon here....
When you are talking about a major level, the tolerance of deviance in that area must be larger. What I mean by this is that you have to use larger stops than you would on a short-term chart. Quite frankly, a 200 pip stop isn't that out of the ordinary on a lot of the trades I take on my personal account. The biggest misconception that traders of Forex have is that a 200 pip move is significant. It isn't. If it weren't for the leverage, you wouldn't even notice it.
Think of it this way:
The USD/CAD pair trades at roughly 1.23 currently. Let's say I drive from my home in Ohio and go to Ontario. I cross the border and exchange my USD for CAD. I get C$1.29 for the single USD I happen to have. However, let's say that I go again in a month, and the rate is now 1.26 as I enter Canada. Well now I get C$1.26 for that same single USD. A total of 3 cents difference - something I wouldn't even be able to use for anything in the real world. However, if you are trading Forex - you could be talking hundreds if not thousands of dollars because of the leverage that you are using.
When we were normal people, we understood what 3 cents were. Now that we are doing this nonsense, we think of it as "3 handles" and that is significant. At least in the leveraged world......but in the real world, nobody cares.
The stop loss that I am talking about being 200 pips is 2 cents on the dollar. (essentially) That is a minor amount of money in the real world. So using a 2 cent stop isn't exactly a large one when you think about the reality of it. However, with our higher leverage - we think it as being huge. However, on a longer-term perspective, it's simply noise.
This is why I like longer-term charts. Even monthly ones if you can get enough information and historical data. Just make sure that you can give the stop loss enough room.