Here you go Robert this is for you my friend. News Headlines
so why is this happening? because the US is running a deficit and their creditors are still diversifying their US debt back to euros, as they;ve said all along they will do. I'd look at this as the panic selling of eur debt has eased since the LTROs and the bull flag on the monthly chart may now come into play.
this chart size is good,
i just want to see how the prices react on my number 1.3183
I think 1.3161 will be the battle ground and if that breaks then very quickly to 1.3110 - just above S2 is my daily target to release all my shorts. 1.3161 houses the channel perimeter from 1.2994 and the 2 day hull MA (my Price envelope) and has held price all the way up. So, perhaps down to 1.3161 then bouncy up and down to your 1.3183 and then down she go.
yes and on your chats the indicators are showing bullish cross!
Nope - not bullish cross. All in our pesonal interpretation. The most we can say is that it is crossed up for now but the underlying stoch moms and EW/MyW counts are all extended - so I am anticipating failure and downside play, as per yesterday's posts. If I get a bear cross as a result, I'll have my confirmation. My short term charts have already crossed down; just need the waterfall into the daily and 2 daily to seal the deal.
Nope - not bullish cross. All in our pesonal interpretation. The most we can say is that it is crossed up for now but the underlying stoch moms and EW/MyW counts are all extended - so I am anticipating failure and downside play, as per yesterday's posts. If I get a bear cross as a result, I'll have my confirmation. My short term charts have already crossed down; just need the waterfall into the daily and 2 daily to seal the deal.
I have been baffled trying to comprehend these continuing upswings as well, and so are a lot of analysts out there. But the bottom line is: those guys buying up all those euros have a lot of money, and you and I don't. So the market goes their way. Do they know something we don't? Or are they making a really bad move? What matters more than figuring out their motives is figuring out whether they are going to continue doing this, and if so, for how long, so we can trade in ways that make money...
it seems that you and Eric come from the equity world which is vastly different from forex, they are both financial market but it's like comparing soccer to basketball, both are team sport but the rules and the game are totally different. in stock there's a defined opening and closing time which makes the first 30-45 minutes "the golden half hour" where the day's move is done, money made or lost and for the remainder of the day trades within the range set at the opening. then comes the last 20 minutes of "Russian roulette" closing, other then the opening and the closing nothing really happens as institutions scale in and out and MM try to maintain "orderly market."
forex is hedgers / speculators market and players are not just institutions but nations and quasi national players whose interest are beyond profits in forex but national economy and other macro interests. you also have multi-national corporations that hedge their corporate interest and try to offset and define their risk in forex, taking the other side and taking on risk are speculators (hedge funds) large banks (acting as brokers to corporations and sometimes countries). they are all in forex market that is not regulated, operates 24 hours around the world and dwarfs the equity market by 100s of times in volume traded. so one's fundamental and reasons for being in the market is different from others fundamental and interest.
this is a traders market and not investors. you can trade with short / mid / long term time horizon but you must be a trader not an investor with buy and forget strategy. if you use fundamental then you are by definition a long term player. if you are a speculator your time horizon is shorter and range defined. if you are a trader/scalper you don't care about anything but what the market will most likely do the next couple minutes/hour. soccer and basketball have different rules and are totally different game, so is forex and stocks.
Hi analyzer - thanks for your guidance. You're right that I have been an equity investor and usually long term when I place my orders. As I had mentioned in my earlier response, due to my investment background, I'm very stubborn to change when I feel dead sure of a certain direction. Judging from the advice given by some of the Gold Memberss, I think I may have to change my investment strategy. Anyway, as a newbie, I will most likely be burnt before I really feel the heat. Thanks again for your guidance. Eric
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Originally Posted by Luxuriant
