Posts by "daveo"

Subway, 1.3330 daily trend line resistance coinciding with 100 DMA. The low at 1.2968 was just 16 pips shy of my 100% symmetry target so technically I agree the jury is out for bears versus bulls at this particular juncture. Should the market turn south again soon my next target would be 1.2720

Chloethebull,

You done extremely well this year and especially as you been trading less than 3 years. It was FXDave that asked the question. My answer to him referred not to proof of trading results but more to guys posting the reasons why they enter or exit a trade. Like what analysis are they using in addition to blindly following Ashraf. I have felt that if guys like to post their open positions much value can be added by including the analysis utilised, their reasons why. Otherwise the forum serves little purpose for discussing trades and trade management. Discussions on fundamentals are a different matter but I think its true to say that most traders here are combining technical analysis with the perceived fundamentals in play.

We all know that Catnip has no time for what he calls "chart astrology" but he is rather exceptional and his mathematical analysis is probably beyond the scope of this forum. Ashraf I believe encourages the use of technicals alongside his fundamental analysis and opinions. After all, how else can we judge a good entry into a move, manage the trade with a degree of expertise and exit the trade with near perfect timing :-)

On fundamental front looking like wikileak strikes again bringing Iran back to the front line of attention. Also Putin expresses interest in merging with euro. Its always the unexpected we cannot factor in.

I don't feel it's of any value to attempt to predict too far ahead in euro or any other instrument for that matter. Like subway I take one section at a time with my analysis. If price does that then the next high probability move is this. No point in getting ahead of ourselves, that's for fortune tellers in whom I have never had a strong belief. The markets are uncannily clever at humbleising all but a tiny minority of longer term forecasters. Timing is everything for trading, high egos get quashed.

Also notice on the fundamental analysis Ashers will often say if such and such transpires then cad or whatever will do this. Its no different with technical analysis to employ this approach to trading. Let's face it, if N.Korea did something really seriously stupid with their nukes our analysis would take a hit and any economy who happened to be down wind at the time would get seriously modified.

No harm in expressing a general opinion for where the euro might visit in the months ahead subject to this, this and this but its frankly of little value for trading.

Here ends my sermon :-)

Yes, very good presentation. Ashraf a touch bearish on one or two things :-)

Nice new screen he has there ! And a very good memory in his personal ram.