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Posts by "nzvik"
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38 Posts by Anonymous "nzvik":
Igumz
have a look at the link to an economic calendar - click on the icons on the 'Details' column. You can read details about each release including what normally happens if release is better than forecast.
Just remember trading the news is an art which takes time to master.
Some times better economic data does not lead to improvement in currency and vice versa, in fact sometimes good economic data is already priced in - so you can also expect a decline.
Suggest you read and study how currencies react to news events for quite sometime before you risk even a small amount of money
http://www.forexfactory.com/calendar.php
Vik
Reaction on stocks post Intel earning after the close will help me decide if I enter on the long side
your audjpy short looks promising - Yen strength could be the flavour for the next few days.
Now waiting for the Euro gap to fill - mind you they fill most of the time - but not always
Every EW expert has a different view on the wave count - and waves are better identified after they have occurred.
Is too subjective and coincidentally Ralph Elliot died a pauper and could not make money from his own theories. Some of the so called forex experts I used to follow used EWT - and had a win rate of 35% or so - which is too low for me.
If it works for you - keep using it.
You could be right - but so could I - it is a probabilities game. I am not sure where one can get definite data about a rally being speculator driven or big money manager driven ? It is only a guess unless we have a definite source or volume to confirm.
normally i don't bother with the why's of a price action - each expert can have a different reason - trying to figure it out in a short term trading (5 to 10 days max) plan is good to know but rarely actionable for me. Also, catching absolute tops and bottoms is a losing exercise for me at atleast - so start small - and see how the trade develops over the next day or two - add to it or get stopped out.
also looking at COT data - commercials who have been on the right side of the trade for the last year - are undecided - just a bit over a 1000 are short the yen. COT data overall is mixed with no clear bias at this stage and open interest is close to the mean of the last year - so no major increase in open interest signalling a large move is on the way - though all this could be lagging.
getting tempted to put in a small short on Cadjpy also.
Betting against the Aussie over the last year has been a difficult game to play.
good luck all - have a good weekend - i am off for some aussie bashing on the cricket field today.