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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
yes that is my approach.... the handful of very big boyz control fx and the only way to trade succesfully in the long range is to follow the money.... but not to follow the herd ...the latter
is swing trading and scalping one can do both with tight sl and tp management
Most markets are run by the big players I agree and forex is probably the largest example, by far the largest market of all. Retail players have no effect whatsoever on price movement so it is our job to track the big boys by whatever means we find most effective.
daveo, yes i agree.
but, i guess catnip use same methodology like me. imo, this world run by some "group" or "person" (not real group or person). all i need to do is determine what they want to do, what they can do, or something like this. it also refer to "the invisible hand" which can be determined.
if anyone can build a full function model (which hard/cant be done), they also know the timing (not possible to have a mistake. that is also why it hard/cant be done).
this time ashraf and catnip only had one mistake which are they miss understand china effect to usdx and eurusd. (from mid dec 2010)
this is not normal. there must be something going on but we dont know. and maybe just self-reflection we couldnt understand at this moment.
For anyone wanting a screen capture and editing tool I can highly recommend Snagit. Very good company and reasonable one off price.
Over to Ashraf :-)
i don't know if you're familiar with forexnews.com(my previous forum site and apparently closed now)...
would be happy if this forum could provide chart posting similar to that site... i'm sure Ashraf has and idea for i believe he dropped by that forum time to time...
hope ashraf or webmaster of this site could do something about it... TIA
thank you for your kind words... :)
my favorite currency would be the Euro but i do trade gbp, Aud, chf and Yen... i concentrate mostly on these pairs...
i wish i could post my charts but honestly i'm not that good with my computer...
still have to learn to do that... :)
for the meantime... I will try to post my view on a daily basis...
i expect 3650(3700 max) level to provide good resistance initally for pullback towards 3500/20 level... as long as we don't see clear close above 3650 level on 8 hour candle(negative closing on 8 hour candle would be a good signal to short)...
clear break below 3500 level would already signal bigger correction down to 3350 then 3200 level...
expected range for the week : 3350-3650(3700 max) ... daily close above 3700 level would be a warning signal for a much stronger upmove towards 3800 and possibly 4000 level...
I have been using Talking Forex for news stream and squawk box on news announcements. Very happy with it for uk and eur time zone, (perhaps not so suitable for EST etc). They only charge 20/month sub.