Discuss EUR/USD News with a DailyFX Analyst - Page 1677

Liberty32 · #**25141** (**permalink**) 11-10-2009, 01:14 PM

In my opinion it still comes down to money management so I would say that it would not be automatic.

Thomas Long · #**25142** (**permalink**) 11-10-2009, 01:33 PM

Quote:

Originally Posted by bill2759

I see in some of the previous posts, The Accuracy of the Daily FX Analyst's was brought into question. I switched over to this page and noticed that only the Breakout2 strategy was more than 50% correct. Does this mean that if I went contrary to the other Strategys, I would be correct and make lot's more Pip's. Please tell me what's wrong with this Logic?

Old Bill (going broke slowly in the Forex Market)

I think Liberty32 got it right on this one. Some of the wealthiest traders in the world win less than 40% of their trades. Money management is the "secret" for their success. Win percentage can be very misleading.

Just to point out though, the Trading Signals on DailyFX+ and Joel's recommendations are two different things.

Alec · #**25143** (**permalink**) 11-10-2009, 02:58 PM

Quote:

Originally Posted by bill2759

I see in some of the previous posts, The Accuracy of the Daily FX Analyst's was brought into question. I switched over to this page and noticed that only the Breakout2 strategy was more than 50% correct. Does this mean that if I went contrary to the other Strategys, I would be correct and make lot's more Pip's. Please tell me what's wrong with this Logic?

Old Bill (going broke slowly in the Forex Market)

Anyway, the best you could do, reversing a strategy, would be (ATM) 29 pips in average with Range2. None of the others are on the minus

Alec · #**25144** (**permalink**) 11-10-2009, 03:05 PM

Quote:

Originally Posted by NMV

My observations:

It has not been able to break 5020 resistance level inspite of strong bullish stock market yesterday and today.

It has hit pivot point 4955 level today.

The recent bullish trend started at 4835 level and hit 5020, since then there is no appreciable retracement.

In view of this it could retrace to minimum 4890 level before upward momentum.

Any comments?

And would you say it'd go over the 1.506 high?

asherewt · #**25145** (**permalink**) 11-10-2009, 05:11 PM

4H Bearish as long as we dont have a Solid Close above 1.69

BTW, this was one of the GBPxxx pairs I traded yesterday after the Breakout, you dont see those kind of days quite often.

Quote:

Originally Posted by VINCY BALBOA

Hi Asher...

..................

Can you Please have a look at Gbp/CHF..

There is very good Opportunity To trade..

I am bit confused on 30 m and 4 hour chart of Ichimoku..

but in 30 minute chart basis the EW Simple Flat AB were B is ratio 78.2%... have Look..

fast as if you can tell me.. ?

thanks..

Bilstein · #**25146** (**permalink**) 11-10-2009, 07:06 PM

Quote:

Originally Posted by Thomas Long

Excellent posts Bilstein...in my humble opinion, you "get it"...thanks for sharing.

I will say this, Thomas; I have never experienced anyone being "nasty or aggressive" around this forum especially not the moderators. Everybody here has been very welcoming, insightful and helpful in my growth as a trader. I have experienced slight mockery of my charts which is ok. Having moderated several forums in my day I kind of know what to expect when you put yourself (or your material - whatever it may be) on the internet so it's all good.

Back on track; looks to me like that 1.4950 mark held pretty tough through the day. If I had more of an understanding of Elliot Waves I'd dare to say that that 1.5080 would be a reasonable extension of the current move and I'd consider a long position at 1.50 but not enough confirmation for me. Heck, we may get stuck with more corrective, sideways junk here, I dunno. In the wake of my doubt, I will wait for 1.5015 before I make a decision to go long. Short if indicators show potential for movement downwards after a break of 1.4950. Channels seem to be holding pretty well also. We'll see!

mildredthecat · #**25147** (**permalink**) 11-10-2009, 07:25 PM

It looks like it could be a W4 leading to a final wave up yes.

I think it could probably end up sitting at about 1.515 before turning down.

David

VINCY BALBOA · #**25148** (**permalink**) 11-11-2009, 12:36 AM

Quote:

Originally Posted by asherewt

4H Bearish as long as we dont have a Solid Close above 1.69

BTW, this was one of the GBPxxx pairs I traded yesterday after the Breakout, you dont see those kind of days quite often.

4 hour chart of Gbp/chf, first 4 hour chart KUMO is bull and second The Senkou span A is Supporting this Pair 1.6802 as Kiju Sen too , yes Agree the 1.69 level..
But here i have 4 chart 1st Elliot wave Complex Correction zigzag x Flat... and second 30 M 1 hour and 4 hour ICHIMOKU..

.................................................. .................................................. ............................
.................................................. ..............
---------------------------------------------
.................................................. ............

In 30 minute chart the Senkou span AB crossover Giving the support on 1.6837 level
1 hour chart the Senkou B resistance on 1.6879 As well the Trend lin As well the 55 MVA retenz
4 hour chart The Price of Gbp/chf Support previously On 1.6767 level then The Kumo Cloud BULL so the Price level is making a New level of uptend And again and again in 4 hour chart The senkou span A is supporting that Pair and The Price level of Gbp/chf making Up trend, but Now We have Triangle Formation So the top Level 1.69 to his Low level 1.6767 there is a good Break out SITUATIONAL STILL THERE

..

ANALYSIS......by Vincy balboa

stanchiam · #**25149** (**permalink**) 11-11-2009, 12:54 AM

After so many days, stop is building around 1.5020 level, a strong close above this level will trigger it.

My 2 cent

stanchiam · #**25150** (**permalink**) 11-11-2009, 01:25 AM

Seems like stop below may be trigger soon. hourly chart show it might break soon. But i am still bull until proven wrong.

arodriguez · #**25151** (**permalink**) 11-11-2009, 01:57 AM

WB chief says China's yuan can be alternative reserve currency in 15 years _English_Xinhua
For your reading, analysis and own conclusions...

A.

pd. If you begin selling USD today... and buying the emerging market's currencies... maybe within 15 years you may retire in an tropical island...

stanchiam · #**25152** (**permalink**) 11-11-2009, 03:02 AM

Quote:

Originally Posted by stanchiam

Seems like stop below may be trigger soon. hourly chart show it might break soon. But i am still bull until proven wrong.

Yes, it survived and we are going to trigger those 5020 stop loss soon.
Good luck to me.

stanchiam · #**25153** (**permalink**) 11-11-2009, 03:13 AM

Quote:

Originally Posted by stanchiam

After so many days, stop is building around 1.5020 level, a strong close above this level will trigger it.

My 2 cent

Taken profit for my 970 and 940 long @5030
Looking for retracement. Going to go long again.

ps: I suppose going above 5020 trigger those short stop loss. Those who counter trend and short around 4970.
Expected more upside, this may just be the wave iii of 5, more to come.

Alec · #**25154** (**permalink**) 11-11-2009, 04:22 AM

Quote:

Originally Posted by Bilstein

I will say this, Thomas; I have never experienced anyone being "nasty or aggressive" around this forum especially not the moderators. Everybody here has been very welcoming, insightful and helpful in my growth as a trader. I have experienced slight mockery of my charts which is ok. Having moderated several forums in my day I kind of know what to expect when you put yourself (or your material - whatever it may be) on the internet so it's all good.

Back on track; looks to me like that 1.4950 mark held pretty tough through the day. If I had more of an understanding of Elliot Waves I'd dare to say that that 1.5080 would be a reasonable extension of the current move and I'd consider a long position at 1.50 but not enough confirmation for me. Heck, we may get stuck with more corrective, sideways junk here, I dunno. In the wake of my doubt, I will wait for 1.5015 before I make a decision to go long. Short if indicators show potential for movement downwards after a break of 1.4950. Channels seem to be holding pretty well also. We'll see!

Attachment 41120

Can I still say it hurts my eyes?

Alec · #**25155** (**permalink**) 11-11-2009, 04:36 AM

Quote:

Originally Posted by stanchiam

Taken profit for my 970 and 940 long @5030
Looking for retracement. Going to go long again.

ps: I suppose going above 5020 trigger those short stop loss. Those who counter trend and short around 4970.
Expected more upside, this may just be the wave iii of 5, more to come.

Do you use the SSI indicator?