Xerof
I noticed the tipster who posted the diamond
pattern was getting some negative comments
on the link you gave me.
Apparantly a subscriber who started with him
on 28th March said he was now minus 730 pips
on the paid for recommendations.
arco
Printable View
Xerof
I noticed the tipster who posted the diamond
pattern was getting some negative comments
on the link you gave me.
Apparantly a subscriber who started with him
on 28th March said he was now minus 730 pips
on the paid for recommendations.
arco
Yes I did note on his website, where he posts results, that he's had a dreadful run lately.
http://www.stormyforex.com/index.aspx
Before that though, he seems to have done quite well.
Must admit I have been pretty flat myself for the past few weeks, but on a bit of a roll currently.
There have been some strange moves post-data releases lately, where markets have moved counterintuitively to the data (at least IMO, and I note the same view has been expressed in some other commentaries)
I haven't followed this guy at all, just monitoring some of the stuff he posts on the forums, but he apparently makes weekly calls which are good for the whole week, without updates etc, so in choppy markets he'll get killed I'd say
Just got back in to the office and see things have developed nicely this afternoon....
regards
Xerof
im wondering where can i find FREE access to charts etc for FX?
the one on ig markets aint soo good eh..
and does bigcharts have it?
This is what I use - open to any better suggestions myself...
http://www.netdania.com/home.asp
Go to chart station, then click [u]try demo now </u>button, and bombs away.
Only snag is you have to set them up each time you go back to the site, unless you keep PC permanently online
Xerof
XerofOK.....this might save you one hellava lot of work.Quote:
quote:Only snag is you have to set them up each time you go back to the site, unless you keep PC permanently online
Forget the funny writing, it makes no difference,
ho here................
http://www.arabonlinebrokers.com/chartsindex.htm
Try the FX Power charts...you can save your chart
set ups, etc.
Have fun
arco
thanks Arco - its netdania in drag, but I do note you are able to save the charts to a workspace - fantastic, thanks
Arco,
I read your post on TT re http://www.elliott-wave-software.nl/
Very interesting piece of software - do you have it?
If so, does it handle FX? Looks like it would need a data feed - eSignal perhaps?
For an old hand who hasn't done hands-on EW, could be the 'holy grail'
grateful for any assistance/comments you may have
Xerof
on reflection I guess EOD data would be OK for doing EW, dumped into Excel - I know there are good sites that offer free EOD data
Morning Xerof
No I don't have that software.
My E-Waving is limited to the basics.
Mostly the e-wavers cant agree, so
I use my own modified/basic version.
Lets call them arco-waves - LOL.
Maybe perhaps do a search on Elite
to see if there are any comments re the program there.
Also there used to be a free EW programe obtainable
from AlphaOmega....check Google or Elite again
if interested.
Hope thast helps
arco
Xerof
I have found the link.........
http://alphomegaew.com/
Let me know how you get on with the
findings on the other program.
TIA
arco
Any one trade EUR/AUS ?
Just went long off resistance
Cheers
Slam
Slam
I have traded EUR.AUD in the past, but
prefer to stick with the mainstream
pairs unless I see the ultimate set-up.
Check one such event here for 321 pips .........
http://forum.tacticaltrader.com/viewtopic.php?t=1564
Guys,
I have been playing around with some indicators, to use as signals for trade entries. The following combination has given some nice timely entries when I back test - admittedly very limited backtesting but I currently have a potential sell EUR/USD signal coming up. I won't trade it, instead will see if it pans out.
I'm using 2 hourly chart with default MACD, default DPO, and EMA's 10,20. Also Bollinger bands, just to give an indication of which end of the range its sitting at.
MACD is about to cross lower from above signal line, DPO is heading towards zero but EMA's still have a way to go.
Backtesting seems to indicate best combo is when MACD and DPO give signal simultaneously, then EMA's confirm 2 or 3 bars later.
Will see what happens later today, if indeed these two early indicators set up as a confirming combo (stress: DPO is not at zero just yet)
I'll update with a 'demo' trade perhaps....
USD/CHF is indicating same setup for a buy USD...
Xerof
Hello Xerof
Some of these indicators may work OK if you are
prepared to watch the screen all day long.
I personally find MA's lag and whip too much to be of
use in short time frames, - unless the trend is
very strong. Divergences can be more useful IMO.
MA's may work better for longer term trading.
i.e Van Tharp's crossover or Guppy's MMA.
Bunny Girl seems to do OK with Bunny Cross MA's,
but I think that may be on indicies only.
MacD.....there are many varieties of this and
I do occasionally check them on the daily chart,
but not in real time.
Anyway, very interested to hear how you go with
these experiments.
arco
Notionally just bought USD/CHF at say 1.1927. Will run a notional stop at 1.1897
EUR/USD still not quite giving combo signal
1.55 pm
Hmmm, first trap - DPO must recalculate constantly - it now shows it DIDN'T cross zero at all !, same with MACD - no cross !
Lesson: perhaps wait one bar before entering
On the same basis using 1 hour charts, these two pairs confirmed some hours ago, buy USD/CHF, sell EUR/USD.
1 hr charts just signalled a sell in GBP and NZD, but 2 hr charts still not there
2.05pm
Well, if I'm to stick to this little experiment, just signalled on 2 hr chart to sell EUR at say 1.2933, S/L 1.2963
So now set and will forget for a couple of hours
Thinking aloud here guys - maybe a technique to apply would be to fade into trades, firstly using 1 hr, then adding if 2 hr confirms, then 4 hr etc etc, with a trailing S/L
if it turns to custard, only take a loss on first entry, if it runs as expected, you're adding to a good trade each time. Any thoughts?
Understand what you're saying Arco - does need screen watching, but would only need to focus if the combo signals are closing in on target areas - still time to mow the lawns or anything else that may tickle your fancy:D:D
Xerof
I usually watch the gardener mowing the lawns
while someone else tickles my fancy....:D
OK back to the serious business of TA..........
....remove all indicators and false moustache...
add trendline/s.........perhaps works just as well,
maybe even better.
arco
Hehe, thought you might say that Arco:D:D
Well, chose the wrong day to give this a go - it's like watching paint dry today and of course the indicators flatlining now. I might persevere with this in private and report success or failure later on in the month.
www.fxwintrades.comuse MACD on 15 minute charts with good success (they obviously have a modelling program that seeks best-fit MACD numbers too, as they continually update these)
As I've mentioned before I'm not that flash on TA, so just experimenting in order to try to find the "holy grail" - I'm the black one:D:D
http://www.mwscomp.com/movies/grail/jpgs/bknight3.jpg
We'll call it quits then - no damage done except to pride, ego, confidence....etc etc
BUT will monitor this little theory over the coming days/weeks
Xerof
and I've just clicked as to what the false moustache is:D:D
Thank you Xerof
That photo of you is a very good likeness, and was obviously
taken just after you left the pub and were still legless.
No need to worry about what others say, it just shows
you were only having a bit of armless fun. ;)
arco
Droll, Arco, very droll, but must admit having some good laughs this week.
I'm sure you probably trade the precious metals Arco, so you might be interested in this chart from Stormy, with trend lines (and indicators););)
http://www.trade2win.com/boards/atta...chmentid=13618
He also posted this EUR chart yesterday, which may be of interest - IMO now needs 1.2975/80 to cap - non-farm payrolls to determine whether we see a breakout.
http://www.trade2win.com/boards/atta...chmentid=13570
regards
Xerof
Xerof
Thanks for the links.
Yes, I have traded Gold and other commodities over the years.
Check out a nice Butterfly on Gold here...........
http://www.sharetrader.co.nz/topic.a...5&whichpage=39
Just another true story for you.
On Monday morning I went for a blood test.
I was sitting calmly sweating with my wrist clenched and
eyes tightly closed when the nurse said "just a little prick".
I thought to myself.......how the hell does she know?
arco
A nice flutter indeed
Similar true story:
I had all 4 wisdom teeth extracted some years ago, under GA. When I awoke, I noticed my fly was undone. I quizically looked at the (delightful) nurse, who burst out laughing and said " I'm afraid not Mr [xerof], we give you a shot in the backside to bring you around"
cheers
Xerof
whos staying up for the NFP tonite?
Well you have to don't you, even if its to marvel at the volatility, which we don't often see here in Australasian/Asian timezone.
So, yes, me, although......meeting a few mates at the pub tonight....may stay to watch the rugby....may not be awake by 12.30.....
Xerof
Well, whilst my little experimental indicator theories didn't pan out exactly as planned, (both notional trades were stopped out within a few pips of the low and high), as a directional play they were both fantastic.
Within 12 hours, these trades were between 100 and 130 pips in profit.
Some fine tuning is required to try and refine it, either a smaller trade initially, with wider stop loss, or using same signals on 3 or 4 hour charts to confirm the 2 hr 'alerts'.
I'm not giving up on this easily !! work in progress as they say....
Xerof
Note there is no indication of any sort of turn around at this stage, so would still be holding short EUR/USD and long USD/CHF.
The losing route.........[V]
http://shortcut-to-forex-success.50megs.com/index.html
The winning route........:)
All serial losers have to do is just reverse
their decision on every trade they make.
[8D]
lol arco
guess theres a lot of truth in that.....
i certainly have not given up my day job yet.
Damn, one less suckerfish in the pool.
Is that all there is to his website? I was looking for more !!
Footnote: I don't intend to market my 'ahem....successful' technique in an e-book - ITS FOR FREE:D:D
Xerof
Note : all three of us are still screen watching at 11.30 pm - go to bed !!
cant go to sleep
NY is just starting!
Well Guys (do we have any ladies tuning in?)
Today is Black Friday, and by the look of it we are all in the black with diamonds at this stage:D:D
This looks to me like a trending market at last, and we might have only seen the beginning over the course of this week
Hang for the ride I say[^][^]
Xerof
yes maybe i closed out to soon this morning, as I said keen to take profits - but doesnt mean I cant catch the train again tonite. :D
Peat, there will always be counter-trend rallies to sell into, as traders will take profits. A Friday without major US data is normally quiet, with a little backtracking probable after the weeks move, but not sure tonight is going to follow that pattern - everything is at crossroads for a major breakout. Plenty of downside stops to gun for in EUR etc[8D][8D]
BTW, you'll suffer from burn-out if you keep those hours up - a post on the threads at 2.30 am?[xx(][xx(] I do admit tho, I have stayed up for the data releases this week, but the big moves are all over within 30 minutes, so 1am is my limit
Set your trades, set your stops and get your beauty sleep;);)
Cheers
Xerof
cheers for your concern about my beauty Xerof :D
i dont start the day job till 9:30 so I sleep in till 8:30 :) Dont need as much sleep as some peeps either must be all the P I smoke j/k
Hi All
Well a good night for everyone by the look of it.
Now comes the hard part, when to exit.
A few have done more than I thought already so time for a rethink.
As you say Xerof, Things are afoot;)
Trade well
Cheers Slam
Slam, I read somewhere that markets trend only 20% of the time, so when they are trending (and I hold the view we have just started a new trend, but next weeks action will be more informative on that front I think) you just close your eyes and let it run.
The tricky part is where to leave trailing stops, as there will always be counter-trend moves. Some will trade the waves, in/out/in/out/in etc, (FX copulation), risking squaring up, or even going counter-trend, and seeing it continue in the trend direction, some will ignore the swings and just leave it.
Its a personal trading choice IMO, my choice when trending is to lower stops to levels above 50% of first move, initially, and let it run. As I say, trending markets are quite infrequent, so need to make the most of them when they arrive.
I have found in the past that temptation to take a profit often leads to no re-entry, especially if the rate moves further in the same direction, (the hardest action is to sell a low or buy a high) and you're left watching it without a position.
You'll note I sold NZD at lows twice yesterday, and both are looking good now. Believe me it's not easy to do.
One other thing to watch, and we see it most often in USD/JPY, is everyone will say its grossly overbought/sold, and must correct, but in a trending market, it simply doesn't - it just runs on speed for weeks on end. You'll also see it in Kiwi - just look at the weekly chart and see the continuous up or downmoves, that have almost no significant corrections. Sept03 to Jan04 is a good example
So if indeed we are entering a new uptrend for USD, get it on and leave it IMO
To answer your question- DON'TQuote:
quote:Now comes the hard part, when to exit
Asian open - looks like they are now sellers, having been buyers for the last few weeks - the buying was probably related to the large Uridashi issue for NZD752 mill formally announced last night, but informally known about for some time. Chinese banks were noted as sellers up at 7325/35 a couple of days ago as well, likely to be after the Uridashi order completed.
Xerof
Beer o'clock mmmmmmmm
and the Euro's still at the same level i bought back at this morning :D
tipsy trading tonite
oops [:o)]
Explains uridashi issue..........
Looming eurokiwi/uridashi crunch risk to NZD - RBNZ
http://au.biz.yahoo.com/050309/20/3nol.html
Well, I don't know if this week has done me any good or not.
Equity up 62%, 598 pips sitting there, all sounds good but, my first few weeks trading the ASX were a few years ago when it was trending up. Didn't mater what I brought it all worked and looked easy[:I]
Learnt a lesson or 2 there. We shell see what next week brings.
Thanks for all the pointers and help arco and Xerof
Have a good weekend all. (for those signing off)
Might join you for that beer pete
and "Go The Crusaders ;)
Cheers
Slam
The 'issue' of Eurokiwi's and uridashi's at this time of the currency cycle is quite interesting - (they are done to raise cheap funding in the issuers home currency by issuing bonds in NZD then doing cross currency interest rate swaps into their currency of choice).
The issuer has no currency risk - this is borne by the retail purchasers of the bonds, (who are usually very high credit rated names, usually AAA or AAA+).
These retail purchasers are typically immune to/ unaware of currency risk, or don't care, and are only chasing top credit investments with a high yield. But over the past 20 years, we have seen two major 'clusters' of issuances, both Eurokiwi and more recently, uridashi, and interestingly, both surges in issuance have come when the NZD has been closing in on cyclical highs (of course its the high interest rates that attract attention from retail investors, which in turn drives the issuers to issue)
What happened last cycle was once our rates started to fall, followed by the currency, issuance dried up, as no one wants to issue in a low interest environment, especially one with a falling currency !
Then a year or two or three later, all the issues came up for redemption, pressuring NZD even further,
Deja Vu...
I think we are once again at the climatic peak of issuance, which has coincided with a peak in interest rates and currency, to be followed by the maturities hitting the market at the very time our interest rates will be/are falling relative to others, esp USD, and the currency is declining.
Once again, the retail investors will take a bath on currency risk.
The cycle seems to come around every 8 to 10 years - perhaps they all have relatively short memories....
lubbly jubbly stuff
BTW, what I meant by my comments a couple of posts ago is that the uridashi arranger will always buy the currency just prior to the issue, ideally forcing the rate higher, then its all sold to the retail customers, leaving the arranger with not only lots of fees for arranging the issuance, but also a nice profit out of the currency side of it too.
So in the past week the strong buying of NZD has been related to the 752mill issue announced last night (IMO)
Xerof
Guys,
Looks like we've bagged a few baby elephants this week guys. Next week we'll go after the 'bull' elephants and try to bag them [^][^]
Pleasant weekend to all
Xerof
Good Morning All
Yes, I might even be able to assist with the US debt
if I cash up now :D
Lots of calcs to do now to see where/when we might get a
swing, and to try to take advantage of that if possible.
Good weekend all
arco
Decidedly quiet out there in Forexland this morning. Which camp is going to make the first move?
My initial view is that some USD longs may be tempted to take profits, but seems to me rallies should be very limited - I think we have seen a significant breakout of the ranges, and will see this continue.
Perhaps GBP rallies back to 1.86, Eur to 1.2730, Chf to 1.2160. Not so sure about commodity bloc - to me they look to be in a spot of bother - CRB index falling away now, which will also keep USD bid, so IMO only limited rallies for NZD, AUD and CAD
Xerof
Good morning Xerof
Just another Manic Monday ;)
I have closed all short term a/c positions awaiting
the market direction. Hard to decide which way they
will jump in the short term. Medium term still down IMO.
Auto orders are placed below recent low/high, and
will trail them if they retrace.
arco
Good for you Arco, so there's a big buyer of NZD this morning as he repatriates his profits;);)
I'm tempted too, have already closed USD/CHF, but waiting for Asia open to see early action on dollar bloc, as not seeing wave 5 completion just yet. Have tightened stops on NZD and CAD, but looking for that extra mint wafer, Mr C:D:D
Xerof
I have just tightened stops on all 4 shorts to the last run down on the 30min chart.will keep moving stops as day goes. If they break the 30min chart trend for the last 3 days, Im out.
Not keen to sell yet.[8)]
Cheers
Slam
PS Shorts NZD/EUR/GBP/AUD all against the USD.
Hi Xerof..
I thought i better say something here as your quote below is quite mis-leading;
I am a IR derivatives trader for an offshore bank, and I am involved in these deals everyday. As the arrangers of these deals we do not enter into the market to buy ccy, nor do the issuer. If we had to enter into the market to buy (like the $752mio as you have inferred Daiwa Securities have) we would be so busy doing that than anything else. We will have FX exposure on back of the basis swaps but not a huge amount. Sure, the buying can come into the ccy as the retail investor purchases the currency to buy the issue, but I think what you will find is that more times than not the issue is never fully pre-sold day one. This particular arranger in this issue is often happy to take down these bonds from the issuer (EBRD) and then on-sell them over time thru their retail network. They would not carry the spot exposure over the time they took to sell down the bonds - and would need to be selling to those who do not already have NZD assets and need those investors to buy the ccy to take them out of their position - at the historic rate they may have bought the currency at (or better). Then there are the redemptions that happen and often these get re-invested back into the same ccy so thus no fx txn's required at all.Quote:
quote:Originally posted by Xerof
BTW, what I meant by my comments a couple of posts ago is that the uridashi arranger will always buy the currency just prior to the issue, ideally forcing the rate higher, then its all sold to the retail customers, leaving the arranger with not only lots of fees for arranging the issuance, but also a nice profit out of the currency side of it too.
So in the past week the strong buying of NZD has been related to the 752mill issue announced last night (IMO)
Xerof
If you look at the issuance that occurs globally on a daily basis, there is no way an arranger is buying the same face value of currency that the deal is in.. he'd be running some seriously long positions !! It is not a viable tactic for the bank to be doing.
Your overview on the issuance process though was pretty good!!
Though we are probably not at the climatic peak of issuance - as don't forget there are still countries needing to be run and debt profiles maintained... but, it has been a pretty stellar start to the calendar year issuance wise so it might just go quieter at the moment with the non-big dollar currencies feeling a bit of heat, and the street not too keen on buying assets after the recent rally in US interest rates... (and not to mention a few downgrades in the credit sector!).
regards
hey i have been checking EW theory
how do u use it to trade?
all i can see, is using it to short really?
ie, u have points 12345 set, and also A and B
u predict where C should be... n provided other indicators also indicate it to be short...
then u short
am i correct? is this how u use EW?
how would u use EW to long a trade?
GBPNZDBASISTRADER,
I may have been a little 'colourful' but regrettably not totally misleading. I too have experience in these issues, during the first major issuance/maturity cycle of Eurokiwi, and maybe things have changed, but I doubt it.
I accept what you say regarding this particular issuer, and the volume they may buy prior, but of course that doesn't really matter, as you have all the other punters out there willing to position themselves (frontrun) the announcement or issue.
Please don't be so naive to expect an ex-IB trader to believe that these up-coming issues aren't leaked, then pumped to blazes, maybe not by the arranger or issuer, but certainly by the punters with an interest to make money off the back of it
As I say things may have changed, but in my day, I could ask my spot trader and also every prop trader in the room how they were placed in Kiwi around the time of large issuances, and doubtless you know the answer.
Thanks for the response anyway - refreshing to have some discussion slightly off the topic of what to sell or buy
Xerof
Getting a head start on a move,eg,USD/CHF and USD/JPY go the same way EUR/USD opp way(most of the time,when they don't = dodgy,and JPY often leads which way the next move will be),easy enough you say,mentioned tho as they confirm each other(as in not sure which way one is going,the other 2 tell you) and also 1 or 2 can move before the other enabling you to jump on before it moves.
This morning EUR/USD went south just before USD/JPY went north,so miss EUR but jump on JPY.
Anyway wet day here so back watching FX and just though would chuck a few thoughts in to the mix.
Cheers
Miner
hi miner
good to see you with the tea leafs out again;)
yes, on this forum now[:I]
can't resist
have a good one
Cheers
Slam
Hi Slam you sound like your doing ok[8D],choice,lots more tea leafs where those came from hehe[:0],you know me;), FX messy at the mo tho so just watching,times for FX,as in when to watch for entry is something you could be looking at also.
"yes, on this forum now",less to watch and allways trades ay mate[8D].
Cheers
Miner
Dazza,
turn your chart upside down:D:D
There is plenty of info out there which can explain it far better than trying to do it on this thread - scan through the threads and you'll find plenty of tips/referrals to sites and books on the subject
cheers mate
Xerof
miner
halled up some charts on what you were saying
nice little tool;)
cheers
slam
Slam Re above,not a good example but look at 5 min on those 3 on last hourly,both EUR and CHF moved before JPY.
Cheers
Miner
spotted that
And now JPY looks the best on 5 min so may lead the way?,or I just cursed it hehe,it's one way of getting on a move before it goes tho,only seconds in it sometimes tho.
Cheers
Miner
Slam NOT a good example but jpy went south eur north same time and chf just sat there(lots of time to jump on) then it followed eur,5 min charts.
Cheers
Miner
Miner,
Yes the correlations are usually quite strong on those currencies, but if I may offer a tip - always keep an eye on the chart for EUR/JPY to see if there's anything there to indicate major moves.
The fact is this cross is the most heavily traded pair on a global basis, if I remember correctly, by quite a significant margin too, and the reality is that moves in EUR/USD and USD/JPY are more often than not mere puppets dancing to the EUR/JPY tune.
Good example as recently as last night, EUR/USD around 1.2630/40 area basically all of NY, but USD/JPY fell 70 odd pips, and surprise surprise, it was EUR/JPY selling, with incidentally, all the pressure felt by the USD/JPY. Ordinarily, with a big sell on USD/JPY, the EUR/USD would be going up?......not last night because of the offering interest in EUR/JPY
Obviously EUR stayed bid for other reasons, probably the poor TIC data, which adds another complication - if you saw USD/JPY being hammered, you'd think EUR/USD should go up yeah? Well last night it stayed pretty flat, even slightly lower, so not always an obvious signal, and you can be fairly certain it did that because the weak link last night was the USD, and the game on at the time was EUR/JPY.
Hope this doesn't put you off mate, just trying to point out that it often ain't as easy as it looks.
The other glaring example yesterday was EUR/GBP, GBP getting slaughtered, while EUR remained very stable, but the EUR/GBP cross was where all the activity came from, and you would have no joy trying to sell EUR/USD - it remained 1.2590/1.2640 while GBP traded down 250 pips
Sori I'm prattling on now - leave it at that
cheers
Xerof
Just did it then, USA/JPY- then EUR/USD- then USA/CHF+
miner
got it that time
gotta stop looking at the ticks;)
Ah, you guys are jobbing the 5 min charts - well my previous comments probably don't apply to v short term trades but might explain why you find your technique doesn't work all the time miner
Not a prob Xerof thanks for that will have a look,might need yet another screen tho(might jam a 5 min chart for eur/jpy on a screen),what have said is not foolproof but when it works it works well,as for put off not me hehe,played before just been busy with other stuff.
Prattle away I'm good at that too.
Slam can my last post mind not on the job enough,should have been jpy and chf not going same way so someone is wrong(jpy often shows the way tho) so dodgy hence my messy coments.
Cheers
Miner
Xerof I run daily 1 hour 15 min and 5 min charts for each of the 3 pairs,screen for each,and also look at times(as in say coming up to hourly) with mentioned method.
And yep mainly for trading but can stay in depends how trade goes.
Not trading at mo and wet day so just thought chuck some thoughts around.
Cheers
Miner
Been there done that,you got it watch the chart not how many pips you are making or loosing on your trading station.Quote:
quote:Originally posted by slam
miner
got it that time
gotta stop looking at the ticks;)
Cheers
Miner
Xerof just looked at eur/jpy,mirror image of usd/jpy,ta for that will jam it in on a screen.
Cheers
Miner
Slam as I'm having a prattle day[:o)] something else I do is watch the change of the daily and then the hourly(+ - 5 mins) as they can be good times to enter a trade.
Cheers
Miner
prattle away miner:)
I use Daily, hourly and min
??Quote:
quote:the hourly(+ - 5 mins)
Watch the 5 min before the hourly as they often run into the hourly and sometimes turn just after(hard to explain on a keyboard),eur/usd and usd/chf both gave a good entry on the daily(hindsight now I now but worth watching) jpy did a bit of a run into this hour,depends on other charts supp,ress etc as to what to do,but as say worth watching to suss if nothing else.
And Xerof's eur/jpy ran into the hour,so a quick few pips if you want.
Also when you get a bigish 15min candle like we did on eur/jpy and usd/jpy like we did today look to go other way off it(as fast so easy to miss,then you dont want to get on the wrong boat) more so when eur and chf didnt do it.
Obviously not that simple but some things to look for maybe.
MIGHT be too early to call but I reckon that little burst of USD selling, buying of EUR,CHF, GBP etc was a 'failed rally' and we head south now
I'm getting mixed signals, charts/candles all a bit of a mess, but I tend to agree.
Here goes another late night watching and waiting for some confirmation[|)]
Slam
A messy day wait for pairs to play the game ie usd/chf and usd/jpy one way eur/usd other etc,not a good day for examples slam but see eur/usd had a wee run into the last 2 hourlys,on a good day can be an ok way to make a few pips.
Xerof maybe see if eur/usd goes below 580 ish?.
Cheers
Miner
On 1 hour charts, Bearish signals
NZD - Harami Cross
GBP - Evening Doji Star
AUD - Harami
Not perfectly formed, but close enough to make me take notice.
How many pairs do you watch slam?.
Well mate, light those nice long upper shadow wicks on the hourly candles, right across the board - hehe
miner
just had a look, see what you mean on the hourly.
Slam on a good night they can do 30+ pips on the last 5-10 min run into the hour,so like say worth keeping in mind for one way to skin the cat hehe.
WOW, reasonable moves already on NZD, AUD,and GBP. Just waiting for EUR and CHF to get going......
not a bad early call eh guys?
You da man:D[8D]
a few lines to break, but reversal patterns broken on most. EUR may take a bit longer imo. was the first to break the downward trend.
Coffee made CD on see how we go,was going to get some beauty sleep tonight(not that I need it[8)] ) all your fault slam hehe;).
Not saying anyone is wrong but tend to try and not get long or short thoughts in my head just watch and charts will tell you which way to go.
sorry miner:D
USD/CHF and EUR/USD mirror image one the end of a 5min chart now
bout the coffee ;)
Sideways sh#te at the mo mate so sit on hands and wait for one to make a move,what pairs you watching tonight?.
I find when eur/usd one way usd/jpy and usd/chf other way(doing what they should) it's a lot easier and safer to play.
watching nzd/usd, aud/usd, eurusd, gbp/usd.
usa/jpy, usa/chf.
(gotta love those 4 screens;))
Half an hour to the poms come on may get things going??.
Need a few more eyes tho mate,and people think iv'e been well you know when say going blind from the screens;).
I just watch eur/usd usd/chf and usd/jpy,watch same all the time get to know them theory,and now thanks to Xerof eur/jpy for a signal one.
You got this slam?
http://aboutforex.com/clocks.html
Have now:D
Thanks miner
chf leading into hour so far
My 3 may test days high lows,and double top-bottom?.
looking that way
mine may test my patiance[V]
well still very mixed so I'll sit this out for a while I think
Good luck all
Cheers
Slam
Yep trade was long eur/usd (or short other 2) on the last hourly to busy doing other stuff tho,see on finnish of last hourly chf and more so jpy had more to go to hit days low so eur went thru it's high,way I look at it anyway,blah blah blah;).
Good to see you back participating on the forum Miner.
Regards
arco
Ta Arco thought you boys could do with a few tea leaf tips;),first day-night watching for months so a bit rough,but going to start getting back into it.
Watch the daily slam;).
Cheers
Miner
miner
will do:)
btw, hope you got some beauty sleep and haven't been screen watching all night miner:D
Got CBF after missing that move(the one good move theory)so did a few things in the shed and hit the hay,busy today but will keep half an eye on things,daily can be good,often to go other way after US closes with a rush,doesn't always do it but worth a watch.
Cheers
Miner