The last few days I have been staying out of the market due to mixed sentiment in the market. With the bad news coming out of Europe last week and no move on the part of the ECB the Euro appeared weaker. The Yen was weaker due to money supply was up only 1.9% which was down from 2.3% in March. With Bernanke still making wrong moves in the U.S., the economy is still showing little signs of recovery dispite his talks to the press. The Fed is looking at 1 more rate cut for June which may be the last for the year(if Bernanke and the governors are to be believed). Personally I'm looking toward other pairs for better trading opportunities. I'll be looking at the Aussie and the Loonie this week but I'll still be checking on the pound from time to time. Lets see what happens, good luck to everyone.
__________________
"Anything worth spit requires hard work, if it doesn't require hard work then it isn't worth spit."
-C. Keller
"Every time you think you make the wrong moves, you make the wrong moves every time."
-C. Keller
Last edited by techtrader10; 05-12-2008 at 02:49 AM.
In checking out which pair I was going to work with I checked out what the analysts were saying. Because today is the release of the TIC data, I checked out the following video from PFXGlobal http://www.pfxglobal.com/video-archi...-analysis.html .
Since they suggested the Aussie was the pair to watch, I thought I'd give it a peek to see where it was. I was pleasantly surprised when I saw the trend was turning to the long side. I was working with the 5min.,15min.,and 30 min. I used the 200 ema in the 15 and 30 min. chart as my profit targets since if the price moves toward the 200 it will hit it 95% of the time.
If there are any questions let me know.
__________________
"Anything worth spit requires hard work, if it doesn't require hard work then it isn't worth spit."
-C. Keller
"Every time you think you make the wrong moves, you make the wrong moves every time."
-C. Keller
I got stopped out in my first trade in the Aussie but made good on the second. I started the day with a text book entry on the Aussie but the Japanese Government had to drop some bonds to put into the stock market. It seems the Nikkie dropped 255 points for a 1.82% loss. This made the AUD/JPY drop from 99.92 to 98.92. So armed with that info, I went short with double my lot size. I made back my loss and also two times more on a 34 pips move off the retrace before 10:00gmt. Hope everyone made money today.
__________________
"Anything worth spit requires hard work, if it doesn't require hard work then it isn't worth spit."
-C. Keller
"Every time you think you make the wrong moves, you make the wrong moves every time."
-C. Keller
Thanks for sharing this profitable system. It's entries are clear and I personally use daily pivots for exit points. It's great!
Your quite welcome. I'm glad you like it. I simply wanted to help others become successful by providing this simple system. Although it is simple, I leave it up to others to decide how much information they want to derive from it when setting up their charts. I hope you make a mint and become very successful. Cheers
__________________
"Anything worth spit requires hard work, if it doesn't require hard work then it isn't worth spit."
-C. Keller
"Every time you think you make the wrong moves, you make the wrong moves every time."
-C. Keller
frm yr simple EMA chart,i saw this indicator that show the day range and current day range on the top left hand corner.would you attached to the forum or email to me this indicator to : r326196@hotmail.com
frm yr simple EMA chart,i saw this indicator that show the day range and current day range on the top left hand corner.would you attached to the forum or email to me this indicator to : r326196@hotmail.com
thks very much
No Problem, the attached file is a pivot point indicator which I no longer use. I have been using the PP indicator provided in the member tools area, because it's more accurate. I hope it helps you out.
__________________
"Anything worth spit requires hard work, if it doesn't require hard work then it isn't worth spit."
-C. Keller
"Every time you think you make the wrong moves, you make the wrong moves every time."
-C. Keller
Linear Mode
