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09-09-2009, 10:28 AM
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CHF/JPY testing hourly downtrend line.
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09-09-2009, 12:08 PM
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Interesting chart patterns from some of the yen crosses. CADJPY and NZDJPY are both producing recent, descending trend channels that counter the more broad-based trend.
We are at the top of the channels now. A break would come to resistance fast, but a retracement into the pattern would have room to run. Of course, we need risk appetite to falter for that to happen and stocks have been holding up.
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John Kicklighter is the author of Dynamic Carry Trade Basket, Watch What The Fed Watches, and Forex Trading Weekly Forecast on DailyFX.com
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09-09-2009, 12:14 PM
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Quote:
Originally Posted by John Kicklighter
Interesting chart patterns from some of the yen crosses. CADJPY and NZDJPY are both producing recent, descending trend channels that counter the more broad-based trend.
We are at the top of the channels now. A break would come to resistance fast, but a retracement into the pattern would have room to run. Of course, we need risk appetite to falter for that to happen and stocks have been holding up.
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John, you point out some excellent flag formations there. Awesome! Lets see if we get some movement after the Beige Book today.
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The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
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09-09-2009, 12:16 PM
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Quote:
Originally Posted by Sean Hyman
John, you point out some excellent flag formations there. Awesome! Lets see if we get some movement after the Beige Book today.
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so what's this beige book all about? - any forecast for what impact it could make? |
09-09-2009, 12:24 PM
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Quote:
Originally Posted by dsteve26
so what's this beige book all about? - any forecast for what impact it could make?
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dsteve, The Beige Book, more formally called the Summary of Commentary on Current Economic Conditions, is a report published by the Federal Reserve Board eight times a year. Each is a gathering of "anecdotal information on current economic conditions" by each Federal Reserve Bank in its district from "Bank and Branch directors and interviews with key business contacts, economists, market experts, and other."
It's a time when they can give some observations about where they see the economy on many different fronts.
If I can find the text of it, I may post it on one of the forum threads too.
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The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and I’ll introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
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09-09-2009, 12:35 PM
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Quote:
Originally Posted by Sean Hyman
dsteve, The Beige Book, more formally called the Summary of Commentary on Current Economic Conditions, is a report published by the Federal Reserve Board eight times a year. Each is a gathering of "anecdotal information on current economic conditions" by each Federal Reserve Bank in its district from "Bank and Branch directors and interviews with key business contacts, economists, market experts, and other."
It's a time when they can give some observations about where they see the economy on many different fronts.
If I can find the text of it, I may post it on one of the forum threads too.
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ty, sounds interesting. I wonder if it has the potential to put the nail in the dollar coffin? |
09-09-2009, 12:48 PM
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Quote:
Originally Posted by dsteve26
ty, sounds interesting. I wonder if it has the potential to put the nail in the dollar coffin?
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dsteve, it does if they reveal something that wasn't previously known.
Sometimes it will just reveal what we've already known and at other times it can give some insights into some notable improvements, etc.
It's out in about 11 minutes at 2pm EST.
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09-10-2009, 03:53 AM
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Quote:
Originally Posted by VINCY BALBOA
So What do you think In Usd/jpy Pair on 2 hour Chart..
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I usually don't go down to the lower time frames too much, I like to stay big picture... |
09-10-2009, 04:31 AM
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NZDJPY
Can someone please give an opinion on this? It is a live chart from FXCM MT4 platform for the NZDJPY 1D chart????? To me a spike this great is not right????
Advice please...
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Thanks,
TB
Last edited by tbordiuk; 09-10-2009 at 04:45 AM..
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09-10-2009, 04:44 AM
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NZDJPY
A clearer chart...
Can someone please give an opinion on this? It is a live chart from FXCM MT4 platform for the NZDJPY 1D chart????? To me a spike this great is not right????
Advice please...
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Thanks,
TB
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09-10-2009, 08:40 AM
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Quote:
Originally Posted by tbordiuk
Can someone please give an opinion on this? It is a live chart from FXCM MT4 platform for the NZDJPY 1D chart????? To me a spike this great is not right????
Advice please...
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tbordiuk, that's called a "bad tick" on the chart. It means that the boston technologies feed has a bad price tick way up there way above the market that causes the unusually high spike on the chart. No prices didn't really spike or trade that high in a day.
Hope that helps.
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The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and I’ll introduce you to the community and point you in the right direction. I look forward to hearing from you.
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09-10-2009, 08:41 AM
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USD/JPY still trading along its top wedge line.
USD/JPY still trading along its top wedge line, struggling to rise.
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The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
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09-10-2009, 08:47 AM
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Quote:
Originally Posted by dsteve26
so what's this beige book all about? - any forecast for what impact it could make?
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dsteve26, It's a bull flag pattern. The measuring tool is the length of the flag pole projected up from the breakout at the top of the flag. That would be about 900 pips on NZD/JPY. Now since this is a daily chart, we'd be looking at weeks or months for that target to get met and not just days.
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The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and I’ll introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
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09-10-2009, 08:59 AM
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Sean, do you mind taking a quick look at what i wrote a while ago on the System Review / FSS forum?. Bizarre "system" to implement, a sort of anti-scalping measure. Probably been done by millions of people over the years, but is over 60 pips in profit for the day although i have been quite lucky exiting at nice points without a real pre-determined exit plan.
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09-10-2009, 09:09 AM
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Quote:
Originally Posted by Sean Hyman
tbordiuk, that's called a "bad tick" on the chart. It means that the boston technologies feed has a bad price tick way up there way above the market that causes the unusually high spike on the chart. No prices didn't really spike or trade that high in a day.
Hope that helps.
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Hi Sean
Quick question, would a bad tick take out a stop loss and if so what can you do?
Thanks
Mike |
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