fxozgirl, if you are here.
EU D1 triggered a BUY order today. You're in?
EU D1 triggered a BUY order today. You're in?
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DislikedMedium and long term I agree, however traders are only a small portion of Forex. At some point banks have sold off so much of their euro that they have to rebuy so they have more to sell to their customers. Their sell spreads are much bigger than ours and is one of their most profitable products. So I do expect a short term uptick but then I am no fundamental master. To me the key is the weekly pivot, as long as price moves above it you can handle some short term buy trades but when it goes below then sell away. I have just seen the real big boys...Ignored
The thing that has changed is Gold. Risk aversion begets a flight to safety. Gold was that safety for a long time and became overbought. Flows out of Gold went back to the dollar it seemed. Mid last week while the risk currencies were falling, Gold did not fall with it but rebound. That's something we haven't seen since the beginning of the year. Of course, it could just be a retracement but Gold would need to break the last previous high on the daily at $1671.45 and that's a long way up.
If I were fleeing risk, where would I go? Gold and Yen maybe. When/if Gold gets to that $1672'ish perhaps that's where the sell-off begins again.
Let's see, perhaps it's time to counter-trend trade for awhile.
DislikedRetracements were bound to happen however IMHO nothing has changed about the fundamentals to warrant a change in trend.
- Greece situation isn't any better, in fact exit is the new topic of choice
- Talk of Spanish financial crisis being next
- China is still in slow down
- Hinting of QE3 from the Fed and China
- US economy is slowly recovering while not booming.
- JPY is still strong regardless of recent declines
The thing that has changed is Gold. Risk aversion begets a flight to safety. Gold was that safety for a...
Ignored
DislikedI agree with all your analysis you are right on. The problem in predicting the market is interference and that is what makes it difficult. So like I have said in the past, fundamental traders always show up after the fact. I should just shut up and throw it all in the garbage and just follow the crossing of the pivots.
Anyway I see potential SRF failures all along the board with NZD and AUD pairs. I am looking to enter when they go back down again. The key is who is going up to balance the market. USD, EUR, obvious JPY until BOJ interferes.Ignored
DislikedNNBob. Last week was nice trendy so made lots of pips. M now confused. Should I trade the retracements or just wait for back in trend mades for pairs and trade. How r u planning to trade this week? Seems like we will have to wait this week or atleast till Wed or Thurs before back in action.
I have taken few longs here on commodity currencies (ones which are in range mode now and above weekly pivots) for small TP as these are retracements only. What do u think?Ignored
DislikedI will be looking for 30-70 pip profits as price crosses back and forth across the pivot line. I will also look for bias in the slope to indicate which way is the better trade.Ignored
Dislikedeur/jpy still shows DT on daily and DT bias on the 4H. It is showing possible rejection at the weekly pivot. Nice place to put a sell trade and have a small SL but good opportunity to get a solid return. Low risk/ high reward trade. Me, got in too early, story of my life sometimes.Ignored
DislikedWhat do you reckon is a "small" stop loss - I have 20-25 pips in mind, but you know with these things, we all have our own language Your view?Ignored
DislikedI hope you don't mind if I jump in Kelisa.
I see your Buy if you are talking about the 4hr chart... 1) Price above weekly pivot, 2) TMA = +.54 (at the moment) and 3) the Weekly open histo is bluse. Did I miss anything? Price structure looks nice also. Supply is being violated and demand is being held. But It is going against the daily trend. What do you think about that?Ignored