Uhm have you ever hear of, people run first and ask questions later. i never said the "american dream" was good, just that people do that.

Yes it does influence trading, i don`t particulary like the US economy. but it happens. people hear news and then trade, after that they ask questions and then the market corrects itself to indicators.

You saying you never trade based on understanding mass psychology? you say you never force yourself to think like an average person to understand the trade.

if for example 3000 000 people trade based on a sentiment, and i sure hope
i understand what they are thinking.

And if you don`t want to understand mass market psychology, then go ahead and trade during non news weeks, cause that is the only place you will survive.


GGunit

This is nonsense..

The world knows exactly what America is and it has nothing to do with a dream. The only people that don't know what America is, is Americans. I am an American but in no way subscribe to this kind of propaganda.

We are a country that simply lives beyond our means and uses back door deals with tyrants to raid third world countries of their resources as one of our means to do it.

The other is to get countries that do the most business with us to buy our debt so we can have the largest military in the world to deter nations from disagreeing with us.

We are as much slaves in America as the rest of the world only we have a higher standard of living than some because we are allowed and encouraged to carry an enormous amount of debt that could never be paid.

I agree, it amazes me that someone with this train of thought is trading currencies. I hope this person has a lot of money to lose or is very lucky.

triangle broken down.
short @4978 SL 5020 limit 4928

Yes, we had 2 triangles here. First on 1min chart signalling @ 1,5 and confirming @ 1,499. Second on 5min chart were you placed it. But big move will be on break of triple support line @ 1,4948 on 15min chart.... 1,492 and lower on sight.

You got it right. But 1.4900 should hold for the day. I don't know.

Edit: good support at 1.4930 though.

Where do you guys monitor crude oil prices? Any good free live charts around?
I currently use livecharts.co.uk but they're abit laggy...

Hi Dennisc, here is a link with different time axis that is free:
Crude Oil Chart

I found that if you open up a demo account at a trading place that sells oil, then you just use their charts. (at least thats`s what i do)

GGunit

Haha, thats the one im currently using... Don't u get the feeling that its a little... jerky? Thanks anyway

LuSaxy, thats a good idea... which platform do u use to 'leech' they're oil charts?

Short intraday trend is down as main trend is also down. To watch is
the possible double bottom around 1,4920 that if it holds could lead prices up again to 1,50/1,505 area.... If it doesnt hold we should see 1,4443 during this week.

TP @4920 nice!

Went down fast again, took a loss at 1,4935.
1,4905 previous low, and LT TL support. Is that goes, Pippin was right and we might see 1,4800.
GL.

EUR needs for good news... I'm getting killed by EUR/JPY

Today it was mess on my acc.. shorted at 1,4995 and got killed at 1,5050.. longed break of 1,5070 got killed also at 1,5030. Then I took a lunch break and shorted at 1,4982, 1,4979, 1,4975. Killed all under 1,4960 but one - half of lot still running in case we head lower. Gold is making a hole in bottom of a chart so... chances that we see sub 1,49 are GREAT!!!. Good day after all!!

SSI ratio is 65,4% longs in market (at noon it was only 34 %). People are thinking this is the bottom.. and that's usally just start of freefall when SSI ratio is like that. (ok ok.. yes.. majority was short during this big fall but volume on this shorts more or less small. And if you take in consideartion huge move after they run over stops... you know that longs volume was huge).


Reason for stronger USD??? Only one in my point of view.... ELECTIONS!!! They need to put dolar a bit higher that people see that their future "leaders" care about states... (bull---- anyway... but that's how it is).

Intervention or not.. someone was buying USD hefty... and if you look at the chart there were closing long positions only at good prices... (now we know what was going on )

What is future of EURUSD??? Don't know... stops on my open positions are at BE... not much can happend now? Looking for 1,4870 (Strykers trendline). It not we should see decen bounce towards 1.52 - 53 and short again from there. Summer is ending and traders are tuning in (isnt that obiest??) We can expect change of direction in start to mid of september. That's how it ussaly was.

Gl to all (especialy newbies which have very hard market to trade right now...)

EDIT: Stop moved to 1,4940. TP 1,487x

These is similar to my own trades. It feels like someone or perhaps a bunch of people are dumping their crude longs and buying dollar to hedge their oil. War in Georgia with Russia and the dollar is improving and oil is bearish. It just does not add up except the they are dumping oil and buying dollars.

I do not buy the elections, nor the theory that those that hit bottom first will bounce first as in USA got sick first thus will start recovering first. Europe to bounce second and improve much latter on. I beleive USA is the sick patience and will be the one to be sick longer.

The trend it appears to favor dollar at least for a while. I would not put the longs away. Such a large change in the currency with no pullback. It does not add up.

However, I also got burned three times this morning with both long and shorts. Managed to make some money with a short but not able to compensate for earlier losses. psst