{quote} It does look like going up a bit for correction. But on hourly chart looks like it is still bearish.
{quote} Just the Chinese headwind as usual in this time, I guess.
Member
- #1,066,181
- May 5, 2016 7:24am May 5, 2016 7:24am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
- #1,066,182
- May 5, 2016 7:25am May 5, 2016 7:25am
{quote} Just the Chinese headwind as usual in this time, I guess.
pa just reject 1,1440 and goint again to 1,1418
But the U.C in 7 min will do the job
Is just 3 days of bears ...
We will se in 6 min
- #1,066,183
- May 5, 2016 7:32am May 5, 2016 7:32am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
{quote} pa just reject 1,1440 and goint again to 1,1418 But the U.C in 7 min will do the job
wooow, Unemployment Claims 274 (261) ...watch E/U going up Member
- #1,066,184
- May 5, 2016 7:34am May 5, 2016 7:34am
- Joined Mar 2008 | Status: Fooled by randomness | 8,362 Posts
{quote} TQ Appreciate your open-ness on your trade calls, hardly seen nowadays especially in this thread.
just to note, i am trading demo testing a new system. also meanwhile coding it on EA... to be able to test it.
its the most complex EA i know of
When life gives you lemons, make lemonade
- #1,066,186
- May 5, 2016 7:36am May 5, 2016 7:36am
- Joined Dec 2015 | Status: Trader | 7,803 Posts
{quote}
- #1,066,187
- May 5, 2016 7:39am May 5, 2016 7:39am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
{quote}
Member
- #1,066,189
- Edited 8:06am May 5, 2016 7:47am | Edited 8:06am
- | Joined Mar 2016 | Status: The Bear | 295 Posts
{quote} Obviously is still bearish ...but I was teasing the scalpers ...not that I'm not a scalper myself somtimes ...love, scalpers!
Approx. two weeks ago, PBOC announced its monetary policy would be wiser. It has probably started to use an automatic trading system and concentrated its main USD selling activity on the short time before and after the beginnings of London and N.Y. sessions. To confuse traders who use technical analysis, I suppose.
PBOC faced several attacks on yuan at the beginning of this year. Because of selling USD to defend yuan, PBOC's foreign currency reserves hit the lowest level in February 2016. Such low level of reserves scared the global financial community and raised doubts about readiness of yuan to become another SDR currency soon. So PBOC is probably selling USD and buying EUR and JPY to keep its foreign currency reserves stable now. The structure of PBOC's foreign currency reserves is a Chinese state secret so we do not know what is exactly happenning.
But maybe it is just another crazy conspiracy theory.
Patience is a key to joy.
- #1,066,191
- May 5, 2016 7:57am May 5, 2016 7:57am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
{quote} Approx. two months ago, PBOC proudly announced its ability to trade 24/5 and the change of trading activity on USDCNH can be seen since then. Approx. two weeks ago, PBOC announced its monetary policy would be wiser. It has probably started to use an automatic trading system and concentrated its main USD selling activity in the short time before and after the beginnings of London and N.Y. sessions. To confuse traders who use technical analysis, I suppose.
Member
- #1,066,192
- May 5, 2016 8:04am May 5, 2016 8:04am
- Joined Dec 2015 | Status: Trader | 8,751 Posts
Do your homework, follow the footprints of smart money
- #1,066,193
- May 5, 2016 8:05am May 5, 2016 8:05am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
{quote} It doesn't have to have news to drop...
Let's say the bearish tone launched by the big boys from banks ahead tomorrow's big news eclipses today's Umpl.Claims news.
...and perhaps an important part of tomorrow's NFP movement is coming right now to be priced in
Member
- #1,066,194
- May 5, 2016 8:07am May 5, 2016 8:07am
- Joined Dec 2015 | Status: Trader | 7,803 Posts
{quote} Fundaments work, Don. The trick is how to balance them. Just a few of us can do that all the time. I can't. Let's say the bearish tone launched of the big banks ahead tomorrow's big news eclipses today's Umpl.Claims news. ...and perhaps an important part of tomorrow's NFP movement is coming right now to be priced in
the daily chart tells the story - #1,066,195
- May 5, 2016 8:08am May 5, 2016 8:08am
{quote}I am staying short. Some dovish comments have come from ECB (supported by Italy's statistics office ISTAT).
- #1,066,197
- May 5, 2016 8:10am May 5, 2016 8:10am
- | Joined Jan 2014 | Status: Self Taught | 851 Posts
- #1,066,198
- May 5, 2016 8:10am May 5, 2016 8:10am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
{quote} that's not the point. the move down doesn't have to occur because of news
Member
- #1,066,199
- May 5, 2016 8:10am May 5, 2016 8:10am
- | Joined Jan 2014 | Status: Self Taught | 851 Posts
- #1,066,200
- May 5, 2016 8:10am May 5, 2016 8:10am
- Joined Dec 2015 | Status: Trader | 8,751 Posts
Do your homework, follow the footprints of smart money