Thread: Trend of the Day

Originally Posted by The Jackal

81 cents???????????

I am in Australia as well and well if you are right is going to be really interesting!

You are welcome. Keep those posts coming. I appreciate your participation!

Battellino said the interest rates are back within their normal range which is code for "we are not going to hike anymore" This has the dual effect of weakening the currency to stimulate exports and promotes growth. The Aussie was a one way ride up as all other G-8 countries have had rates near zero so investors were loading up on Aussie. Too strong a currency can strangle growth. This is why the U.S. dollar has been allowed to slide to stimulate American exports.

Hey Greg, I clicked the link on your signature and brought me to a broker website...so do you work for that broker?

I am trying to understand which indicators to use and if each pair has a more reliable one.

For AUX/USD for example the only one it gives me some reliability is the Stochastic but then also finding the right setting takes time.

Thanks

Originally Posted by The Jackal

Hey Greg, I clicked the link on your signature and brought me to a broker website...so do you work for that broker?

I am trying to understand which indicators to use and if each pair has a more reliable one.

For AUX/USD for example the only one it gives me some reliability is the Stochastic but then also finding the right setting takes time.

Thanks

I work for FXCM/Daily FX. I am a course Instructor in the Daily FX Power Course.
I use Stochastic with a setting of 14,3,3 some traders use 15,5,5. Here is a great link to a video that a friend of mine in the company put together a part of the new Daily FX Power Course:

Originally Posted by Gregory McLeod

You are welcome. Keep those posts coming. I appreciate your participation!

Battellino said the interest rates are back within their normal range which is code for "we are not going to hike anymore" This has the dual effect of weakening the currency to stimulate exports and promotes growth. The Aussie was a one way ride up as all other G-8 countries have had rates near zero so investors were loading up on Aussie. Too strong a currency can strangle growth. This is why the U.S. dollar has been allowed to slide to stimulate American exports.

Yes I know, then we have to hear the home-mortgage stress saga everytime here....like if they have no faults. You could hear stories of a 20 years old unemployed single girl taking on a $300,000 mortgage guaranteed by her father just to cash in the first home buer grant that was $29,000 in regional Victoria for a new home and everybody was running crazy before the deadline before they bonus was reduced.

Truth is that the house bubble we got in Australia and New Zealand did not burst this time and the debt that Australians and subsequentially Australian banks are carrying on is a big brick on the AUD that very few people even know. Till then the mess get out of control like subprime in the US. Do you think people learn from someone`s else mistakes? Nah.
Plus we have a greed system here that works perfectly to push more people into debt.....the bankers want money, the spruikers (real estate agents want commissions), the government wants stamp duty on property transfers. all of them get more money if prices are higher. Perfect.
Yestarday I found a news about an old house in Detroit for $100. Yes one hundred. No back taxes, no tricks. The buyer cleaned up, rewired , fixed a few things and with about $3,000 had a liveable small cottages.
The same thing anywhere in Australia even the worst suburb of a city would cost you $100,000.....but if you are really lucky.

Originally Posted by The Jackal

thank you very much for your analysis.

Yes little positions may be the best as I`m just starting. Actually I may look at your courses too

Where would you put the stop? Daily low (2.01206) or the Dec 14 daily low (2.00623) ? Or lower?

Then you mention the weekly MACD has turned up.....but on your chart I see its going down, or did you mean the Stochastic?

thanks!

There is a low at 19696 where a stop could be placed. The chart I posted above was a daily chart. Here is a weekly chart below. The stop area is the horizontal red line:

Originally Posted by Gregory McLeod

I work for FXCM/Daily FX. I am a course Instructor in the Daily FX Power Course.
I use Stochastic with a setting of 14,3,3 some traders use 15,5,5. Here is a great link to a video that a friend of mine in the company put together a part of the new Daily FX Power Course:

Thanks again, I will have a look and see if I can afford them

In the mean time Gold makes a new low.

I am just reading the old posts on this thread as well since I just started.

It seems many people don`t find trends. Is this a"special time of the year" or what? Surely not everytime you get currencies that swing from $0.98 to $0.60 (AUD/USD last year) and back to $0.94.

Originally Posted by Gregory McLeod

There is a low at 19696 where a stop could be placed. The chart I posted above was a daily chart. Here is a weekly chart below. The stop area is the horizontal red line:

fantastic, that`s what in other words they call double minimun then.

Originally Posted by The Jackal

fantastic, that`s what in other words they call double minimun then.

Yes! That is called a Double Bottom.

Originally Posted by The Jackal

Thanks again, I will have a look and see if I can afford them

In the mean time Gold makes a new low.

I am just reading the old posts on this thread as well since I just started.

It seems many people don`t find trends. Is this a"special time of the year" or what? Surely not everytime you get currencies that swing from $0.98 to $0.60 (AUD/USD last year) and back to $0.94.

When we get to the end of the year, traders like to book/take profits. If they were long a particular currency pair all year, they have to sell it to get cash out. This selling is not due to any real weakness but rather traders taking profits. Similarly is you were short the U.S. dollar all year and you have a large profit, you may buy back your short position in order to take profit. This causes the U.S. dollar to rise. It is not necessarily rising because it is fundamentally strong, but rather traders have to buy it to close their outstanding short positions.

ok, this is good because I`m learning and I thank you very much for this.

I did not know this thread was so good and now I`m going to be often here if you don`t mind

From your previous posts I`m understanding that a weekly MACD can show a change of trend.

So what do you think of this:




I see the trend changing bu the MACD is still above the zero.

Are there any specific setting for this MACD?

I am using default settings on MT4.

Thank you again very much!

Originally Posted by Gregory McLeod

..... to close their outstanding short positions.

Makes sense.

Wonder what if it is like in the equity market.

3rd friday of each month there is a mess in closing options.

Tomorrow will be the third Friday of this month.

And we had a huge sell on Gold each of the past 2 fridays so I`m going to be watching very carefully tomorrow.

Originally Posted by The Jackal

ok, this is good because I`m learning and I thank you very much for this.

I did not know this thread was so good and now I`m going to be often here if you don`t mind

From your previous posts I`m understanding that a weekly MACD can show a change of trend.

So what do you think of this:




I see the trend changing bu the MACD is still above the zero.

Are there any specific setting for this MACD?

I am using default settings on MT4.

Thank you again very much!

Please keep on posting. I am sure others are learning as well. That is what I am here to do.

MT4 MACD is different than other platforms Click here and down load to get the expert advisor/EA that draws the traditional MACD signal line and historgram

Originally Posted by The Jackal

Makes sense.

Wonder what if it is like in the equity market.

3rd friday of each month there is a mess in closing options.

Tomorrow will be the third Friday of this month.

And we had a huge sell on Gold each of the past 2 fridays so I`m going to be watching very carefully tomorrow.

Look for gold to test the 38.2% level at $1,018.24 in the coming sessions. This would lend itself to further dollar strength and further Aussie weakness.

Originally Posted by Gregory McLeod

Please keep on posting. I am sure others are learning as well. That is what I am here to do.

MT4 MACD is different than other platforms Click here and down load to get the expert advisor/EA that draws the traditional MACD signal line and historgram

I knew there was "something" wrong with what I had

Ok I clicked your link and all I see is a Google page with

"MACD_OsMA_4ColorH_2LVAR_mtf.ex4"

I clicked the first link and brings in the forumfactory website where there are several files. Which one I have to get? Is it like an "aadd-on" for the MT4?

On another note THANKS for looking at GOLD!!

1018??????????????? oh God, luckily I am no longer long as many people were screaming for it to go to $2,000....go figure.

It was first trade on CFD/Forex few days ago and I lost immediately on Gold.......it made a new low on 1112 and then went up after I closed in loss, great.

alright I need to learn plenty

Thanks!!

Originally Posted by The Jackal

I knew there was "something" wrong with what I had

Ok I clicked your link and all I see is a Google page with

"MACD_OsMA_4ColorH_2LVAR_mtf.ex4"

I clicked the first link and brings in the forumfactory website where there are several files. Which one I have to get? Is it like an "aadd-on" for the MT4?

On another note THANKS for looking at GOLD!!

1018??????????????? oh God, luckily I am no longer long as many people were screaming for it to go to $2,000....go figure.

It was first trade on CFD/Forex few days ago and I lost immediately on Gold.......it made a new low on 1112 and then went up after I closed in loss, great.

alright I need to learn plenty

Thanks!!

You are welcome. If you choose anyone with the exact file name and follow these instructions You should be off and running.

Your trading platform should be shut down before dropping the file in the folder.