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Yes, thats more or less what I would do. Just as a caveat - you must consider the possibility of continued intervention or much drastic measures by CB that keep moving the ccy against you. However, in most interventions, your generalization should hold.

Two ways: 1. either know from experience when a CB is most likely to act and in what direction 2. trade very less size

Yes, I am talking about daily bars. if it is easy/possible to buy/sell open print and buy/sell closing print. Thanks for your response - probably its doable. The reason I asked is because i am very new to stocks. To do any kind of backtesting on daily bars, I only have O,H,L,C data available...

Indeed, your timing was great. You should Treat yourself!

I am thinking of dabbling in stocks, primarily trade forex. Was backtesting some ideas using OHLC data from finance.google.com. I have a basic question. Is is possible to buy/sell at the open price and buy/sell at the close price. Or these open and close prices as reported on google finance...

I reduced my long usdjpy position by half early Asia morning and used that to short AUD. I was hoping to buy usdjpy back around 75.2 or so......missed half the gains....:( As a consolation, made at least 30% of what I would have made on usdjpy on aud short. LONG LIVE THE BOJ - sorry for...

Thanks, I asked it because I shorted at 1.0620 (x position) , 1.0690 (x position) and 1.0750 (2x position). This rally is not even giving time to pass. Not sure how long it might continue though. My best trade during this Euro deal came through when I went long euro at 1.34 after the weekend...

Ralph - wondering if you still have that short AUD position. Where do you think AUD is going ?

Hello Picaso, basic question. I see ask size is almost 1.8x of bid size. Doesn't it mean that there are many more limit sell orders in the queue compared to limit buy orders in the queue. Doesn't it mean that price will go down ?? Thanks for explaining.

price has just stalled....feels like already afternoon!!!

Keeping all the technicals aside for a moment, from a fundamental perspective, Europe good news is priced in to a large extent. Even if this does go to 1250 and beyond, a dose of reality next week from jobs numbers etc. should be enough to push it down to 1200ish very fast indeed. As far as...

one look at the chart you posted nitro and its clear that its not random at all. Look at the number of years in last 10 years which have been above 2sd or 3sd.......This is definitely not a tail of normal distribution. Looks more like volatility sticking together ....hahaha More important...

LF - have a nice weekend . Enjoy the winnings!

I was serious... I am very new to ES, and am learning it. :cool:

understood thanks for that.

Can you pls explain your thinking why its going to go much lower ? will help me follow price action !

+1 Want to Thank You for this analysis.

Sorry my bad. HAHAHAHA ...I actually thought you trade big or probably know someone quite big and know of two 'big' usdjpy buy orders go through -- something like 100s of millions in size. Just a pun on myself - It seems I assume everyone on ET is trading millions in positions :D LOL...

MS or someone else came out with a report saying usdjpy at 58, according to EW theory. So, anyone can pick any number - in the long run anything can be realized. USDJY at 70 is a distinct possibility, I cannot disagree with it. What I am saying is that BoJ doesn't even need to act, just the...

True, but the beauty is unless QE3 does happen, this is going to reverse itself. Let the BOJ come in monday morning, if they do intervene longs will be happy :)