Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

E/$ near pip perfect bounce off the 30min 200 SMA earlier . . . arguably the most widely used timeframe and SMA in trading but don‘t let me put you EWT followers off thinking it hit one of your wave counts. Notwithstanding the level we are skirting with right now (1.444559) is also the .786 fib retrace of the NovDec 2009 highs. Currency pairs are all hitting highs or lows right now along with just about everything else, so it’s no surprise that many are nervous to push levels to further extremes without good rhyme or reason. First rule of currencies is that the money follows the highest yielding interest rate or predicted highest yielding interest rate in the future; hence a little dumping of the GBP this morning with a surprise drop in inflation and the likelihood of a rate increase pushed further back. Trading currencies is not for the feint hearted or those with restrictive thinking and you would do well to read Alejandro Zambrano’s daily offerings to equip yourselves with a technical look at the day ahead and the one gone. Homework for someone who wants to trade is as important as training is to an athlete; without a basic understanding of what is happening and why it is happening in the markets at any given time, your pockets will be emptied before you know it. Contributors come and go on this forum, their credibility shot to pieces after a few lucky calls . . . my advice to anyone and everyone: follow the basic rules, understand the background fundamentals that influence currencies, use the simplest of indicators on your charts and know exactly what they represent in relation to price. Have a prosperous future if this is really your chosen career, or simply more fun if you are trading a DEMO account.

Originally Posted by Paul Chin

Please come back. Need your analysis. You're good lady. Ignore the haters. Too many. Low profile. Join the crowd. Better. Yes???

roger wants eska back. yes??? roger also wants stop offence each other and share knowledge and experiences.

Originally Posted by tiktok

E/$ near pip perfect bounce off the 30min 200 SMA earlier . . . arguably the most widely used timeframe and SMA in trading but don‘t let me put you EWT followers off thinking it hit one of your wave counts. Notwithstanding the level we are skirting with right now (1.444559) is also the .786 fib retrace of the NovDec 2009 highs. Currency pairs are all hitting highs or lows right now along with just about everything else, so it’s no surprise that many are nervous to push levels to further extremes without good rhyme or reason. First rule of currencies is that the money follows the highest yielding interest rate or predicted highest yielding interest rate in the future; hence a little dumping of the GBP this morning with a surprise drop in inflation and the likelihood of a rate increase pushed further back. Trading currencies is not for the feint hearted or those with restrictive thinking and you would do well to read Alejandro Zambrano’s daily offerings to equip yourselves with a technical look at the day ahead and the one gone. Homework for someone who wants to trade is as important as training is to an athlete; without a basic understanding of what is happening and why it is happening in the markets at any given time, your pockets will be emptied before you know it. Contributors come and go on this forum, their credibility shot to pieces after a few lucky calls . . . my advice to anyone and everyone: follow the basic rules, understand the background fundamentals that influence currencies, use the simplest of indicators on your charts and know exactly what they represent in relation to price. Have a prosperous future if this is really your chosen career, or simply more fun if you are trading a DEMO account.

Actually the recent bottom has 4 other technical significances, including the 30m 200 makes 5, which is used in conjunction with EWT. I agree with your 'money flow' statement but you may want to clarify that the statement is mostly true in a risk ON environment. Can you give the folks your talking too, the opposite side of that coin, 'money flow' during a risk OFF environment? You've been around for years I think, and should know EWT easily incorporates other techs seamlessly.

we should break todays top side pivot right

Originally Posted by PoundGuy

we should break todays top side pivot right

Maybe 8:30 ET Economic numbers will give the Euro the Push it Needs to Get Through!

Nice move on eu....
lets see if 4517 initially holds or this heads into 4540 resis...
GU channel top around 6350..
GL...

Will the barrier of 1.45 be to hard to crack. Gotta love options! And POP!


http://www.youtube.com/watch?v=rY0WxgSXdEE

Originally Posted by tiktok

E/$ near pip perfect bounce off the 30min 200 SMA earlier . . . arguably the most widely used timeframe and SMA in trading but don‘t let me put you EWT followers off thinking it hit one of your wave counts.

I'm not a follower, just interested into know how we can predict better, and yes, it seems it fits correct in my modest EW count. Never traded 200 SMA nor have a clue how to do it, but i'm sure serves you well. Why don't you elaborate more on this topic? I'm definitely interested.

Originally Posted by tiktok

Trading currencies is not for the feint hearted or those with restrictive thinking and you would do well to read Alejandro Zambrano’s daily offerings to equip yourselves with a technical look at the day ahead and the one gone.

I follow Alejandro every night and I love the concept of trading with the trend and use simple rules to be profitable, I hope we never lose his wisdom, knowledge and daily analisis. I learn a lot from him, I don't exaggerate when I say maybe 50 per cent of what i know of trading, so thanks Alejandro, keep up the good work!!

Originally Posted by tiktok

follow the basic rules, understand the background fundamentals that influence currencies, use the simplest of indicators on your charts and know exactly what they represent in relation to price.

Fantastic call, I will add, don't stop learning and if EW fits in your style go ahead!

roger

Roger/Xtura . . . you must trade moving averages in one way shape or form surely. MA(MovingAverage)CD, Stochs, RSI, DMI, BB, PSAR to name but a few. SMA/EMA's are just usually plotted as a price study on your charts rather than a non-price study or a sub-indicator.

Bill2759: is Colly ok, hope so Colly is a great person.

Hi Eska,

I understand English is not your mother tongue, this is the same for me. I am french and we are not particularly known for fluency in other languages.
Moreover, as a foreigner, it is more legitimate for me to tell you that. Please try something else. Your posts are really terrible to read and understand.
So please have a look as "google translate" at least, you can type in polish and (almost) perfect english is generated.
Thanks in advance,
Cheers
Cosco

i had a great night , am going flat an calling it a day.

@AyoBro . . . EWT attempts to incorporate pretty much everything these days and the added caveats through the years have now made it capable of achieving almost staggering results particularly in hind sight. I will have made my trades by the time EWT fits the desired pattern and people are shouting its virtues from the roof tops. Consequently I prefer the simpler and more mathematical derived indicators which have stood the test of time. It's difficult, if not impossible, to argue with what they say and to be honest I am a better trader, than I am a mathematical theorist. "The opposite side of the coin" is always clearly apparent using these tried and tested indicators and one only has to look back in time and the charts to see the signals of differing trading environments. I am not dismissing EWT as a tool for some . . . if it suits your character then fine. A good trading strategy must always take into account the user's personality traits, pain threshholds, account size and many, many more variables. In short, my rare postings on this forum are simply to remind would be traders, that simplicity is more often than not the most consistant route to success and unarguably the best grounding. I enjoy reading your post AyoBro . . . keep posting your thoughts and maybe I'll learn even more, that we are all different and can yet contribute to the same end.

Originally Posted by Eska

Many is here with who I have discuss. Mary say my English good. No body say I no understand what it is you mean. I use Translator to be find some times best word but in Poland it is we construct sentence in different way to here. Many difference, example is spartan he make refer my ego and in Poland this is mean what you is call esteem but here it be seen is some thing bad. I happy to find better way if you no understand for is no use me say any thing if this be not understand yes??????????????? All you have to be is say and this I will best I do.

Let me be the first one to say i have to try make out what you mean... so your english is not good if i say it is then you wont want to get better at it. Mine not that good aswell but atleast it should be something someone can read without having to always make assumption of what you are writing

Originally Posted by Eska

Many is here with who I have discuss. Mary say my English good. No body say I no understand what it is you mean. I use Translator to be find some times best word but in Poland it is we construct sentence in different way to here. Many difference, example is spartan he make refer my ego and in Poland this is mean what you is call esteem but here it be seen is some thing bad. I happy to find better way if you no understand for is no use me say any thing if this be not understand yes??????????????? All you have to be is say and this I will best I do.

My mother tongue is far off from English as well.. You like me use charts and i guess u let them do the talking......
At times it is hard to understand but charts as i say don't lie......
But stay put and do what u like doing best......
I don't the reason b/w why u been compare to colly but irregardless, i guess post with less literature and more numbers as numeric is more universally understandable......
As for English; it would help u if u do end up getting a better grip on English as would quiet all the chatters up......

So back to trading now..........

GL...