Forex Taking A Wait And See Approach

hey, my thread did pretty good while I was... away. :D

You know, I'm not so sure I liked that ID "sKaLpZ" anyway. Or maybe I got tired of it.

Anyway, some pretty good posts on this thread!

Looks like we moved neatly under 1.2400 last week, that's pretty cool.

My short TP is still 1.2200. I think it will go further down but you know, plan the trade, trade the plan. :D

Besides, I can always open more shorts after I hit my TP.

fx
(so what do you guys think of my new ID?)
 
Quote from steveosborne:

The bottom seems to be far. Strong growth is the only fundamental variable supporting the US dollar and if oil is already bouncing back before reaching 60-61, markets will discount additional uncertainties about growth in the US. The trend for stocks seems to be turning from flat to slightly negative and bonds seem to be slightly oversold again.
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I think Steve's pretty right here.

The uncertainties.

Not really any "bottom" per say, nor a "top" is my thought - just wild abandonment and that, by the market being moved by fears, phobias, panics and mistakes.

Of the entire two years I've traded the forex this market is the best one so far to make profits in.

USD bull strength just dissolves by uncertainties. Same with euro bulls - we got extreme balance, and nervousness on both sides.

Just extend your SLs out some and you should be able to make some hefty money.

And if your SLs get hit then I'll make some hefty money. :D

theskalper
 
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