Posts by "shane"

Some of us traders develop permanent handicap to our believes either we become USD bears or bulls and mostly it is USD bulls. Maybe because of our loyalties to countries or stuff and thats when we make mistakes and get emotional.

@Cat one thing i wont agree with you is about chart astrology stuff coz as far as i think that price action in the market represents the fundamentals and technicals so if u follow the price action without knowing much about technicals or fundamentals u can do well if u follow just price action. I think we need to learn from each other and respect different opinions. BTW admitting mistakes and learning from them is part of a traders life if u guys become stubborn and follow only one way of the pic u are harming urself and nobody else.

Not to mention that we have a right shoulder of H&S also at 1.6060. plus the topside is limited to max 1.63 . But dont forget that the last time USDX went to 76 we saw 1.70 in Gbp so for now i am strongly bullish Gbp as Usdx has broken 78 and heading for 77 and 76.

I think its a lovely time to short aud but i hate the rollover Gbp is a better option and than maybe euro.

The sep 09 resistance ashraf talked about comes at 1.61 to 1.62 in GbpUsd . Potential break of 1.6060 in cards but 1.62 will cap pair. My Bullish Harami trade i posted earlier is working well i guess.

I agree with dave O and catnip, Banks, big hedge funds, market makers all are the front covers of the big money boys. They have made it such an uncertain market that no one can really judge the direction except the one who has a bigger fundamental picture in mind . Now aswell when they have already pushed euro 800 pips every one of us is planning to go long so i guess its not long b4 we go down to 1.20s in euro again thats exactly is how they play and there are a few ways you can outsmart them. One is if you have money like them but unfortunately we dont have that much so we have to be very very careful when doing swing or scalping.