SPECTACULAR WEEK
wow need a lie down , unbelievable really
and confirming the old adage trend and friend etc
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SPECTACULAR WEEK
wow need a lie down , unbelievable really
and confirming the old adage trend and friend etc
>>>>>>>
Yes a good week.
Unfortunately these opportunities don't come every week,
...........so its good to grab the mega-pips while you can.
Good weekend all - arco
Charting Currencies
There has been little change in fundamentals to support the dollar's stellar rise, says Callum Henderson, head of FX strategy at Standard Chartered Bank. He charts where the major currencies are headed, with CNBC's Amanda Drury.
VIDEO with charts...........
http://www.cnbc.com/id/15840232?video=821240431
For reference I'm going to post a series of pix and comments in the appropriate thread of the Elliot Wave longer term views. They were snaffled during Free week. Enjoy.
afternoon chaps
just wondering if anyones in at the moment
i find this kind of market frustrating , im kind kicking myself for missed opps
but how can you get in , when nothing retraces
just sitting on my hands at moment
all my recent trades have been stopped - gartleys just get wiped out.
so I've just been reading that book of interviews that arco posted... in the forex magazines thread. theres no systems discussed though its purely psychology.
Kinda weird how the dollar sustains strength for so long but it is still the reserve currency and the theory is that everyone else apart from the US is feeling it more now. Perhaps when she blows next time (Credit Crunch II) it will be big.
in volume 2 of harmonic patterns book , he talks about the nasdaq when the tech bubble
burst and how the repeated failure of patterns was a trading set up,
you need big testies, but stop and reverse may well have proven profitable.
A couple of times i've thought **** it, i'm going to just short the euro and gbp at market
and it would have paid off but i've fought long and hard to stop myself excuting this kind of
amateur trade.
just got to wait for the correction 5 waves up and 3 down on shorter time frame with a
nice hammer should do it but absolutely no signs at the moment.
Hi Guys
Still got a few Gbp.Chf running but frustrating at the moment waiting in the wings for some positive signals to appear.
Some of the old BFs are still running nicely. (e.g. Euro)
rgds - arco
Part of this game is waiting,force it and you usually get burnt.
Cheers
Miner
BoE announcment about rates tonight.
widely expected to keep interest rates unchanged at 5%. But in recent weeks, economists and markets have moved to expect earlier and deeper rate cuts from the Bank in subsequent months. Whether this transpires or not, the logic is straightforward.seemed to hint at a mild easing bias in the August Inflation Report
Recent activity data have been very poor. Despite a small rebound in the latest
business surveys, confidence remains at recessionary levels. The housing market and
prices have also continued to slip. Alongside this economic weakness, the fall in the
oil price should help depress headline inflation. Perhaps most important, the MPC
Historically, the MPC has tended to act on an easing bias quite swiftly. But, on thislevels, this leaves the Bank with lingering concerns about 'second-round effects'.
occasion, there are reasons to think it might hold back longer. Despite the fall in the
oil price, UK inflation is yet to peak. As energy suppliers raise electricity and gas
prices through the autumn, inflation should reach 5% and remain above 4% until
spring next year. And with various measures of inflation expectations still at elevated
Rather than wages, the Bank is worried that firms use the spike inmargins.
headline inflation to 'camouflage' price increases as they attempt to protect profit
In the absence of a further lurch down in activity, these credibility concerns could
mean rates remain unchanged until next year. With fiscal policy also constrained and
interest rate changes typically taking between 6-12 months to influence activity, this
implies little support to domestic demand until late 2009 at the earliest. Instead, the
burden of adjustment is falling on the exchange rate. The pound has fallen by 5%
during the last month and is 15% weaker than a year ago. I suspect this has further
to run. There are two ways of looking at this. From the MPC's perspective, the
pound's fall should mean net exports take up some slack as domestic demand
remains weak. In turn, this should ease pressure on the MPC to cut rates more
aggressively, aiding its credibility battle. But from a personal point of view, it could
necessitate relatively tight policy. So, even as GDP recovers, the economy could 'feel'
grim.