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Baruch's Forex System Journal
- Thread starter Baruch
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Quote from SteveL91:
Looking at the various charts, it looks like the upward price action is losing momentum as shown by the MACD rolling over and the ADX (which is a measure of trend strength) dying; at the same time, DI+ is heading downwards while DI- is heading upwards, and it looks like there will be a cross. The slow stochastics are also heading downwards. The price has been moving sideways with a slight downward bias over the past few hours and it looks like this downward movement is starting to pick up some steam (I'm currently looking at the hourly chart).
OK. I don't use ADX. Does it work?
Quote from Baruch:
How can that be a hedge?
because it has the closest correl to eurusd (~ -0.9)
ok, its not a perfect hedge, but i take the usd out.
and of course correl is a historic figure, it can change in future and it does.
so with short eurusd im long usd,
with short usdchf im short usd
right now:
eurusd +98
usdchf -7
Quote from SteveL91:
There are a few I'm looking at, but the charts aren't really showing clear signals. Or, they hadn't when I made my potential list for the night which I'll update in a bit.
The three I'm looking at right now:
1) long EUR/USD
2) short USD/JPY
3) short GBP/CHF
There are a few other possibilities as well, but I think I'm going to wait for the session to unfold a little; maybe it'll clear things up a bit.
hi steve,
i like 1. and 2.,
but still see the posiblity that eurusd breaks the 1,175x low,
which would also be a negative for the short usdjpy.
i ll wait for the cpi, but too bad, i also have other things to do today.
Quote from rax:
because it has the closest correl to eurusd (~ -0.9)
ok, its not a perfect hedge, but i take the usd out.
and of course correl is a historic figure, it can change in future and it does.
so with short eurusd im long usd,
with short usdchf im short usd
right now:
eurusd +98
usdchf -7
Nice trade. Any target for profittaking?
maybe i hold the pos over the weekend,
but i think there will be a weaker usd in some days. but today i think the usd could still become stronger, esp if 1,175 in eurusd is broken. should that happen today i will be on the usd short side on monday or tuesday.
still, i think today is the time to be long or short and make a profit anyway (holding long enough and standing the pain)
but i think there will be a weaker usd in some days. but today i think the usd could still become stronger, esp if 1,175 in eurusd is broken. should that happen today i will be on the usd short side on monday or tuesday.
still, i think today is the time to be long or short and make a profit anyway (holding long enough and standing the pain)
Quote from rax:
hi baruch,
will see how the eurpean session will go on, waiting for the us markets to open (chicago at 14:20) and then for the cpi.
any prediction for cpi and the reaction?
Hi rax,
Well, a surprise will really make a spike. But up or down? I don't know, but the gas prices are very high, aren't they?
Quote from Baruch:
Hi rax,
Well, a surprise will really make a spike. But up or down? I don't know, but the gas prices are very high, aren't they?
but gas is not in the cpi, is it?
but still the consumer, esp in the us is not happy about that, and you can spend your dollar only once...
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