That's what I have mentioned before, NY likes to screw things up. Big boys have big capitals enough to play around the market. Most of my lost trades were in NY session. Fortunately I didn't open any position earlier
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DislikedYes. It's called 'divergence'. I will gladly answer specific questions about it but there is not space here to fully explain it completely. Google 'MACD divergence' and you'll find plenty of detailed info on the web.
M2BIgnored
DislikedRemember that there are a lot of fixings happening today, as it's the last day of the quarter. Keep your SLs in place.. if you see a 100 pip swing up or down don't be surprised. I'm staying out of the markets till Monday.Ignored
DislikedWell called Vishal!! I managed to get another nice long entry on that dip!Ignored
DislikedIf you're a multi national company, and want to switch reserves or do some general buying/selling of foreign exchange for commercial purposes, banks do that for you, and due to the sheer amount of money involved, they have to do this at a set time.
Nobody knows what that time is (except a few folks - from bank+company) No clue if they are going to buy or sell either. Generally, rumors circulate around that there is a 'fix' going to occur.. and details are vague.
In the Asian session the USD/JPY 'fix' turned out to be a 1 billion $ sell on UJ.. which in turn dragged GJ down (GJ always moves way more relatively, compared to UJ)
Unfortunately there is nothing the average trader can do but just be forewarned of a fix - they can't even tell if this is just a rumor, or a fact. I prefer to stay out of the market if there are talks of fixes going around. Just better to be safe than sorry.Ignored
DislikedGood job mateI got in at 233.37 and got out at 233.50 and then kicked myself knowing very well that I could have stayed in there, to see it go all the way up to 234. Some day I'll have the courage like you guys do.
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DislikedThank you vashi for the info on fixes. I think what we just went through was a fix. We already had 1 retracement today and now 2 retracements.
Don't know when I last saw 2 retracements in the same day of that size.Ignored
DislikedAs long as each trade is 1% or 2% of account then there's no problem. If you are underfunded then you may be trading scared, which is not a good position to be in. I'm not saying put all of the funds in your trading account but what funds you may have allocated to it.Ignored
DislikedNewbies generally see GJ go up by 100 pips.. and then they buy at that point (thinking it will go up more) .. and then it retraces by 20-30 pips.. they get scared, and close their positions at a loss. Wait for the move to dissipate, be patient, and then enter (and know why you are entering! based on whatever reason you have - techs or fundies or gut feeling lol)Ignored
DislikedVashi?It's expected as it's the last day of the quarter - traders close their books, rearrange positions, do profit-taking, etc. etc. It's best to stay out - or if you're gutsy.. you can make good profits by entering at the right time.
Newbies generally see GJ go up by 100 pips.. and then they buy at that point (thinking it will go up more) .. and then it retraces by 20-30 pips.. they get scared, and close their positions at a loss. Wait for the move to dissipate, be patient, and then enter (and know why you are entering! based on whatever reason you have - techs or fundies or gut feeling lol)Ignored
Dislikedthe fall is not over yet, more then 5-1/2 hrs remaining, it will close below todays pivot around 233 levelsIgnored
Dislikedthe fall is not over yet, more then 5-1/2 hrs remaining, it will close below todays pivot around 233 levelsIgnored
DislikedThese are very powerful comments imransait.. What confirmations have you got to prove these..Ignored