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

Originally Posted by Gregory McLeod

Get ready for a rebound. Lol

the rebound is strong and furious...

Originally Posted by Gregory McLeod

BTW I find Paul's posts so informative that I think he should have a thread dedicated to his methodology! Paul, you may have your hands full or may have but I would be honored if you could moderate such a thread. If the answer is "no" I understand!

Thank you Greg for the invitation! I feel very honored about this, but I'm not really a teacher or selfless enough to fully share what I know. I'm happy enough to post my views here to share and at the same time, read about others' thoughts, not to mention some commitments outside of trading that demands attentions, like my 3 handful kids, and work and study.

You are one of those rare trader, Greg, for sharing and demonstrating what you know, and I'm proud to be part of such community. Once again, thank you for the invitation! May many pips run with you always!

Good luck!

Good day all,

What a session, not much to say other than I think I was trading a lot like Greg trying to get some pips out of this sideways move. ICH m30 looks like it will validate. Things look a lot like choppy sideways direction for the short term after the move yesterday.

I took a trading course many years ago with the 1/2 method being explained much like ABC-D shared earlier. (looks a lot like many FIB trading methodologies applied by traders)

There's been some questions as to what is ICH (Ichimoku Kinko Hyo, well I have one of the clearest fundamental explanations out there by none other than FXCM's James Stanley right here for D/L.

I've been taking care of personal issues (family & trike repair) due to an accident (got run out of intersection) I'm OK but the derailleur idlers-jockey's got messed up. -Rod

Originally Posted by buggypilot

Good day all,

What a session, not much to say other than I think I was trading a lot like Greg trying to get some pips out of this sideways move. ICH m30 looks like it will validate. Things look a lot like choppy sideways direction for the short term after the move yesterday.



I took a trading course many years ago with the 1/2 method being explained much like ABC-D shared earlier. (looks a lot like many FIB trading methodologies applied by traders)

There's been some questions as to what is ICH (Ichimoku Kinko Hyo, well I have one of the clearest fundamental explanations out there by none other than FXCM's James Stanley right here for D/L.

I've been taking care of personal issues (family & trike repair) due to an accident (got run out of intersection) I'm OK but the derailleur idlers-jockey's got messed up. -Rod

Hey Buggy! Take care of yourself. Sorry about your accident. Hope you get better. Yup James Stanley rocks even though he is a San Diego Chargers fan!

Originally Posted by Spyros

Rcopadilla can you please tell me the name of the poster who claims fantastic results, uses ZIGZAG indicator, does not trade with real money etc?

Just check out my posts from the past couple of days. I do not want to create a situation. I has personally put that poster on ignore so I don't get aggravated by a wannabe. As for not trading with real money, that is a conclusion from me, Maybe he does, but the ZIGZAG indicator cannot be traded in real time.

Shorting GBP/USD turned out to be a marathon 3-hour long event. I initially shorted the GBP/USD near the Daily R2 Pivot at around the 1.5946 area with visions of a quick move down to the 1.5900 area. However, Cable had other plans in mind as I kept it company for a long time. When GBP/USD finally started to move down to R1 support, I was quick to cash in my chips.

I had two lots and I took 15.9 on the first lot and 12.9 on the second lot. I had a long AUD/CAD that I bailed on for 1.7 pips before the Bank of Canada rate announcement and monetary statement.

Originally Posted by rcopadilla

Just check out my posts from the past couple of days. I do not want to create a situation. I has personally put that poster on ignore so I don't get aggravated by a wannabe. As for not trading with real money, that is a conclusion from me, Maybe he does, but the ZIGZAG indicator cannot be traded in real time.

I am like you. I do not want to create any situation. But it would be good to speak in names and not behind them. I believe that any misunderstoods can be solved and at the end everybody would be happy. I respect your opinion but in zigzag you are wrong... I work with zigzag in real time. The zigzag (black line + white spots) in that image is in real time and when the price in the last candlestick goes above the close price in black arrow then the zigzag line will instantly move...

Originally Posted by Spyros

I am like you. I do not want to create any situation. But it would be good to speak in names and not behind them. I believe that any misunderstoods can be solved and at the end everybody would be happy. I respect your opinion but in zigzag you are wrong... I work with zigzag in real time. The zigzag (black line + white spots) in that image is in real time and when the price in the last candlestick goes above the close price in black arrow then the zigzag line will instantly move...

If the ZigZag is looking for a high and then gets it, it will adjust the line according. Similarly for a low. But how do you make profits with it? The high can change, the low can change. It does not tell you support or resistance or any timing related information. It is designed for backtesting. It is the "should woulda coulda" indicator. If you only knew, you coulda done something.

Possible Euro Short A-B-C? As long as pair can remain below 1.3179 it can have a good shot at the 1.3000 area

Originally Posted by rcopadilla

If the ZigZag is looking for a high and then gets it, it will adjust the line according. Similarly for a low. But how do you make profits with it? The high can change, the low can change. It does not tell you support or resistance or any timing related information. It is designed for backtesting. It is the "should woulda coulda" indicator. If you only knew, you coulda done something.

rcopadilla I work with zigzag because helps me recognize the abcd patterns..nothing more nothing less. in the image as you can see the higher has allready created, it can be changed only if the price goes higher and in this direction... It is wisely to think before we talk

President Obama is speaking about Regulating Oil Speculation- Risk off?

Originally Posted by Spyros

rcopadilla I work with zigzag because helps me recognize the abcd patterns..nothing more nothing less. in the image as you can see the higher has allready created, it can be changed only if the price goes higher and in this direction... It is wisely to think before we talk

You are a smart guy. I have nothing against your use of the ZigZag.
ZigZag has its uses. You use it as an adjunct to your patterns. But it cannot be the basis for entries and exits. Backtesting using it as the basis for entries and exits will produce fantastic results because that is what it is design to do.
It will identify the highs and lows but only for data that has already occured.
That particular posters is so proud of his backtesting results, it is worthless (not the ZigZag, the backtesting results).

Originally Posted by Gregory McLeod

Hello Robert,
In the following report from Bloomberg/Business Week, Spanish banks borrowed $300 million from the ECB and loaded up on Spanish debt (very risky)
Spain Sells More Bills Than Planned - Businessweek

I believe that the ECB can't bailout nations directly, but they can bail out/"back stop" the banks.
ECB Help
Demand for the 12-month bills was 2.9 times the amount sold, compared with 2.14 times last month. Demand for the longer maturity notes rose to 3.77 times from 2.93.

Demand for Spanish debt has been underpinned by the European Central Bank’s emergency three-year lending to banks at tenders in December and February. Spanish banks’ average net borrowings from the ECB surged almost 50 percent in March to 227.6 billion euros, central bank data showed last week, and data from the Treasury shows Spanish lenders piled up on the nation’s debt in the three months through February.

Thanks. The ECB "can" buy up sovereign debt directly (did a little of that last November as the article mentions) but just doesn't like to, although they are being pressed to do so again: a lot of Draghi's speech is likely to be re-assuring the Germans that the ECB will not get into that. It is interesting that they are lending other banks money to do so, however: it indicates that non-European investors for this debt paper have just about disappeared. Another Spanish bond auction is scheduled for Thursday, and it may be difficult to coax buyers without hefty rate increases; we will see.

At least, the government has acknowledged that the Spanish economy is sliding backwards (everybody knew that, but sometimes there is denial) and the political temperature is falling: calls for protests last weekend fizzled, the "indignado" leadership (insofar as there is leadership) preferring that everybody concentrate instead on the traditional Mayday and the May 15 anniversary of their first big protest. Greek elections May 9 still the next major straw-in-the-wind about whether economic woes will turn into political upheaval: the two major parties, New Democrats and Panhellenic Socialists, did not even have 40% *combined* in the first polls, and according to Spyros the feeling on the ground is that they are falling even further; we can hope that the lunatic-fringe parties, Orthodox Rally (crypto-fascist) and Communists, do not rise enough to block the formation of a coalition; it depends on whether the little parties (Coalition of the Radical Left, Democratic Left, etc.) can overcome their typical schismatic problems and settle on a common platform-- which may be a thoroughgoing rejection of "austerity", the IMF, the ECB etc. forcing painful decisions about whether to stay in the eurozone at all.

Originally Posted by rcopadilla

You are a smart guy. I have nothing against your use of the ZigZag.
ZigZag has its uses. You use it as an adjunct to your patterns. But it cannot be the basis for entries and exits. Backtesting using it as the basis for entries and exits will produce fantastic results because that is what it is design to do.
It will identify the highs and lows but only for data that has already occured.
That particular posters is so proud of his backtesting results, it is worthless (not the ZigZag, the backtesting results).

You are absolutely right...it can not tell you the entries & exits. I would not ever think to use it in this way

Hello all!

I have been using the Active Trader platform's tight spreads to open up a a cluster of small hedges with 3-pip limits and 21 pip stops. Limits were being hit as price fluctuated in a tight range. Having a tight 0.9 pip limit made things much easier. Still holding to one Short from 1.3044.

This is a demo and I am revisiting the small-limit hedge technique that I posted back in 2009. I think that it could be dangerous when market suddenly begins to trend but could be useful with some money management rules in place.