Short the Euro/USD Now!
- Thread starter Bullz n Bearz
- Start date
Nice Trade and solid reasoning. There is no such thing as right or wrong in this business. Nobody knows what it going to happen. And none of us can advise what is "right or wrong"...cause we don't know.
Any of us who take shorts on the EURO are trading counter trend and battling a very tough enemy.
Any of us who take shorts on the EURO are trading counter trend and battling a very tough enemy.
Realist,
What makes you think the Yen unwinding will start again? Just curious since I have no clue about when to expect it.
What makes you think the Yen unwinding will start again? Just curious since I have no clue about when to expect it.
Mostly just reading into the current intermediate chart of the Yen which spiked right up to 118 and now appears to be turning back down again. I have had 110 as a target for sometime now. Risk aversion is showing up again in recent days. Just have a look at short rates and movements in the UST note and bond markets. The US financial and homebuilder shares are resuming their breakdown here. Those in the know appear to be cashing in some chips on the run up from the mid-August lows...
As I am sure you can tell I am new to trading.
I am in the process of better understanding how to read technicals. I have seen some really interesting displays while reading this thread. Any books or sites that anyone here would recommend?
I am really interested in learning what triggers to look for and how to put the technicals together (Ie.. Macd with Rsi). Any advice would be greatly appreciated!
Thanks in Advance
I am in the process of better understanding how to read technicals. I have seen some really interesting displays while reading this thread. Any books or sites that anyone here would recommend?
I am really interested in learning what triggers to look for and how to put the technicals together (Ie.. Macd with Rsi). Any advice would be greatly appreciated!
Thanks in Advance
I do not use indicators at all. I did when I was a new trader and I lost a lot of money. I buy based on value or price action also. If I had to do it all over again, I would study price distribution over the Bell Curve or more commonly called "Market Profile". I don't use market profile to trade per se, rather to help me find where to buy and sell at a good value. Or at least what I think a good value is.
The herd will follow indicators on a short term basis and this is just setting you up for lots of losing trades. Indicators have their place over longer term charts I suppose, but after all what is they are telling you that your god given gift of perception can't already figure out. If a market is moving up and pulls back to resistance or demand, you don't need a squiggly line to tell you. Just look.
The herd will follow indicators on a short term basis and this is just setting you up for lots of losing trades. Indicators have their place over longer term charts I suppose, but after all what is they are telling you that your god given gift of perception can't already figure out. If a market is moving up and pulls back to resistance or demand, you don't need a squiggly line to tell you. Just look.
Sorry to sound so wide eyed fellas, but I really want to develop a solid and disciplined trading strategy, so this is a huge help for me.
Can I ask how do you tell with confidence where support or resistance is?
I see areas that look like support or resistance to me that don't appear to match up with numbers that come from the Pros.
Ps. by the way guys I don't mind doing the leg work. I am reallly enjoying (and learning from) your posts. however if you point the way (book, site etc..) I will do my research!
Thanks again guys!
Can I ask how do you tell with confidence where support or resistance is?
I see areas that look like support or resistance to me that don't appear to match up with numbers that come from the Pros.
Ps. by the way guys I don't mind doing the leg work. I am reallly enjoying (and learning from) your posts. however if you point the way (book, site etc..) I will do my research!
Thanks again guys!