EUR

hey daveo do u clear ur charts each day or do u keep all previous channels going?what ive been doing is once my channel is broke and a new trend is formed+chanel formed i leave the previous chanel for reference...but i must atmitt using these channels-s/r ever give a much clearer entry/exit...plusit takes out the emotion of gettin too greedy..on the eur chart i see its broken my latest chanel not enough sticks to form new channel but looks like 144-15 level is being tested might close out the short..lol the leftside has been working hard over the last 9hrs to keep me looking for the reversal..ive managed to close out most positions an remain flat vs getting short the $$ lol..ok thanks gl/gt

@Catnip, we can feel lucky that forex is largely driven by the fundamentals tide whereas stocks are largely driven by GS algos (and 3 of their partners in crime). The abundance of MT4 type EA's used by forex retail players has no effect whatsoever upon prices. Of course the behaviour of stocks is one ingredient to currencies so to that extent algo trading of stocks has some input into currencies. I daresay there is significant algo trading of commodities but the fundamental influence will be greater whereas stocks are almost entirely controlled by wall street. I mean GS mafia cannot control the production of rice, oil, and resources anymore than they can control the weather.

Another facet is algorithms are constructed by humans (even mathematicians are human) so one could argue that the character of markets remains broadly the same as ancient egyptian times. This is reflected in age old chart patterns and analysis. Our individual trading systems are adjusted to changing market conditions.

Markets are basically driven by supply/demand, greed and fear. Algos may only represent greed and fear and they tend to trade narrow range having the sum total effect of merely increasing liquidity.

Can anyone give me a strong 'fundamental reason' for EURO rally must going on ?

short in WTIC opened at 113.05...stop above 113.5...lets see this mofo roll over

very nice pyscholgical game....

now if most are convinced that it's heading clearly north.... expect some surprises....
400~500 pip south move will confuse many traders and start to think otherwise..... when they start thinking south.... then it will be heading back north......

reading chloe's post reminds me of my earlier years of trading.... :)

but i won't be making any assumptions... like our digi mentioned... it would be the mother of all f**kups.... will be playing my charts safely... no need to be confused by so many fundamental news and events bombarded everyday... which will make you flip your mind every now and then... CAT showing us a good example as i gave him his nick.... CAT THE FLIPPER.... :)