Said, so based on your understanding the collapse of Lehman Brothers in 2008 was not bad for the US? After that crisis became apparent the eur/usd fell over 3,700 pips in a few months.
"To all the Elliot wave / technical / charters out there,
Employers cut staffing by 95,000 workers after a revised 57,000 decrease in August, Labor Department figures in Washington showed today. The median estimate of economists surveyed by Bloomberg News called for a 5,000 drop.
now what does your charting say? short the euro some more?
hahaha"
EUR/USD chart says the same thing it did before the npf news, in my opinion. I still the short opened Thursday. It is currently at 91 pips profit and stop was moved to break even.
"10 pip shy of my 4040 level and good reaction so far. This kinda stuff is TRADEABLE"
Of course your analysis is tradable, DaveO. I suggest you stay with your own strategy and don't listen to naysayers.
The "symmetry" I believe you were reffering to is wave A equaling wave C in a corrective 3 pattern (what would be expected to happen in a perfect 5,3,5 corrective pattern). EW works exceedingly well these days in EUR/USD and the USD index. I jumped onboard for the short - filled at 4020...
I have always been pretty conservative on money management so - unless the regulations get much more stringent - it doesn't have an effect on my trading. I don't often risk over 1.5% of my risk capital on a position and never risk more than 2.7%. My margin usage should remain well within what is still permitted.
"Hey puzzo... how's it going? i don't know if you remember but i told you never to trust stochs and rsi's on it's own alone... they are simply indicators... can't really trade on those indicators alone..."
The only thing I find to be useful in such indicators from time to time is divergence between the indicator and price movement, particularly where the divergence appears where the indicator is moving down from over bought territory of up from over sold territory. This signals a potential coming price reversal. Other than that, I agree that they are lagging indicators and not of much use (i.e. other than divergences), in my opinion.
Fundamentals are more a symptom of sentiment. For example, it is sentiment that causes manic bubbles in markets and it is sentiment that causes those bubbles to break.
There is always a fundamental story told as to why one should buy at a top and sell at a bottom.
Sentiment does not turn on a dime. It is like a large ship that must maneuver slowly as it turns about. Volatility has sharply increased since 2008 as sentiment turns. I think the next push down will eventually involve more wide spread recognition of systemic imbalances (and consequences) caused by massive deleveraging and a simultaneous drop in equity markets. Huge amounts of credit evaporating and more capital preservation will have a deflationary effect in the US. More QE will achieve little to counteract the situation. If this is how things develop, it would not bode well for the eur/usd. I could, however, see more upward movement for the pair (perhaps even as far as to around 1.40). However, this rally may be short lived at this point. Sentiment for the pair in futures is getting to an extreme, which could mean the rally is ripe for reversal soon, in my opinion.
...meanwhile, Beijing keeps its own currency tightly controlled to benefit its exporters.
The yuan has risen less than 1 percent against the dollar since mid-June when Beijing said it would allow it to trade more freely after keeping it virtually unchanged for 18 months.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(11 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(11 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(11 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (11 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (11 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (11 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(11 months ago)
إستعمال تحليل الإنترماركت والتحليل الفني الكلاسيكي لتداول الذهب و الناسداك و السندات. شاهد هنا
Using intermarket technicals analysis to trade XAUUSD Nasdaq100 and Bonds.Watch here.
Latest Hot-Chart - May 16
Dax 200 DMA Deviation
You remember we went short Dax40 in late March based on the 13% 200 DMA extension, which gave us at least a 500-pt gain.
View Hot-Chart..
Employers cut staffing by 95,000 workers after a revised 57,000 decrease in August, Labor Department figures in Washington showed today. The median estimate of economists surveyed by Bloomberg News called for a 5,000 drop.
now what does your charting say? short the euro some more?
hahaha"
EUR/USD chart says the same thing it did before the npf news, in my opinion. I still the short opened Thursday. It is currently at 91 pips profit and stop was moved to break even.
Of course your analysis is tradable, DaveO. I suggest you stay with your own strategy and don't listen to naysayers.
The "symmetry" I believe you were reffering to is wave A equaling wave C in a corrective 3 pattern (what would be expected to happen in a perfect 5,3,5 corrective pattern). EW works exceedingly well these days in EUR/USD and the USD index. I jumped onboard for the short - filled at 4020...
i don't know if you remember but i told you never to trust stochs and rsi's on it's own alone... they are simply indicators... can't really trade on those indicators alone..."
The only thing I find to be useful in such indicators from time to time is divergence between the indicator and price movement, particularly where the divergence appears where the indicator is moving down from over bought territory of up from over sold territory. This signals a potential coming price reversal. Other than that, I agree that they are lagging indicators and not of much use (i.e. other than divergences), in my opinion.
http://www.businessweek.com/news/2010-09-29/china-yuan-weakens-for-first-time-in-13-days-after-u-s-vote.html
There is always a fundamental story told as to why one should buy at a top and sell at a bottom.
The yuan has risen less than 1 percent against the dollar since mid-June when Beijing said it would allow it to trade more freely after keeping it virtually unchanged for 18 months.