Intraday FX Player

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CF, I throw in this fundamental info because it's important, it's the larger reality that TA/PA functions within, especially in FX. The macro reasons that the fx mkts move like they do. This page I posted before:

http://www.forexfactory.com/calendar.php

Today, wed, 4:am, Germ biz climate and Ifo biz expectations. Anything with Germ is super important to EURO. Take Germ out of Euro and all you have is Ferraris and wine, not true but funny.We know the fomc minutes are important from that bloomie piece I posted, the next most will skim over is the JPY trade bal. This is imprtant cause it will prolly show a downtick and they will say they can't raise rates. The mkt is raising them slightly for them as the yen goes up cause of carry trade exits. What it means tho is that after this little correction the yen will still be cheap and as soon as things settle into direction again the carry trades will go back on as the hedge funds attepmt to outdo each other and lever up again. Expansion, contraction, forever, doesn't matter what the reasons are. Thurs has EURO ind. new orders, this may be strong, if so there will be a EURO surge as that will feed into inflation and Trichet will go super hawk. Later in day JPY minutes, affects carry trade. You have to get into this stuff and know what things mean in the real world. If I don't see it on bloomie site I use this yahoo site and search for it.
http://news.yahoo.com/
A running awareness developes in your mind. This lets you see when the mkt is divergent from reality, sometimes it's that simple.
 
Banjo,

Yeah I saved that calendar it's good that shows what news are likely to cause big moves... And agree on Germany, this country is extremely important for EURO behavior...

Will read those news and commentaries too to try to also get the fundamental picture of what moves the market... Except that it's useful it is pretty interesting too when you don't just watch lines, but know forces behind the move...
 
Addition to my technical gameplan view:

If we break down from this triangle at the top, then some selloff can really become real today...
 
BTW, yoohoo, thanks for another valuable advice I use now... 5min (not even speaking of 1min) is messy and slow this morning, so I have switched to larger TF's and watch them now and it keeps me watching the market in a right way and not getting lost in a mess...
 
Quote from CFerret:

Addition to my technical gameplan view:

If we break down from this triangle at the top, then some selloff can really become real today...
More...

When you see a triangle, chances are it's a 4th in Elliott. If so we have a 5th up to come. Now remember I don't rely on Elliott, but I do wear as many hats as possible. Just like Banjo reads the fundies, try and see all the participants.

I said at times the gameplan won't be clean and clear... perhaps that's because you have not got two contrary indicators - one fast and one slow... perhaps it's just noise, perhaps you are not looking at either side of the 1 Hr or between the 1 & 4 Hr.

If having done all it's still unclear, what I do is get inside the pattern and trade it until time overbalances price and the gameplan reaches a conclusion. Most often we get a gift but sometimes we have to wait for Santa.
 
Reading chat log for laffs, Hog went berserk on student end of day,lol. Notice you mentioned I am long from 350, I entered there on that day, closed that trade day after. Earliest long I have now is 5400. I knew these #'s were coming up, the talking heads were all yapping about dollar bottom, made no sense which is why I asked chi, he said I was wrong and didn't have time to explain. What I knew is that inflation is high in Euro and not coming down, so rates not gonna lower, US is not going to raise with housing fiasco and SPX stocks eps down not counting oil stks. So EUR and USD can only grow further apart, not converge, how can it be any other way. Again, sometimes it's that simple, and the chart patterns confirmed. Play the TA understanding the macro thrust behind it. Doesn't always work out, big deal, close the trade, but when it does it can be a monster trade.
 
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