Cable, hey that looks cool. Bet if it were to be set up as a line chart more currencies could be compared without it getting too messy. I am also going to fool around with excel some too....though it would be great to just be able to pull up a chart with real time data, etc. I am an idiot with excel. So yeah, definitely keep up on the MT4 front if you will. Thanks for the pic.
Ok thanks. STARC bands, that's an indicator I've not seen around for a while, do people still use it (well obviously Kathy does!). I always thought Lien and Schlossberg were fundamental analysts, guess not. Either way she hasn't seen fit to reply to a mere mortal like me!
Line chart, doh, of course. Ok, it was a hectic weekend and I'm short an hour's sleep Just tried it and it looks a whole lot better using a line chart. Any view on positioning for NFP and Bernanke?
Awesome. Please post a chart if you get a chance. Would like to check it out. Ideal positon for the speech? I am on the sidelines for this one. I think they will release some bogus information in hopes of making everyone bullish on the USD again...they seem to have been trying that a lot lately... Who knows though? I am gonna sit this one out and then respond according to what happens.
Reaver, good journal, and will the real Mandel please stand up! Gads I didn't notice the spelling difference . Anyway here is an observation, Eur, we are sitting right on last weeks low and just above a 61.8 medium term fib, at 1.5517. The next strong support would be around 1.5249 which is the 50 fib on a long term fib. The 0 line for this fib was set on Feb 8 at 1.4480, and continued to 1.6018 on April 22. The 50 fib is also close to the Feb high, combining the two is why I say it is strong support. There has to be a retrace, how far and how deep is the question! I don't expect any more 3/4 cuts, but who really knows what the Helicopter will do. I expect 1/4, which will allow the dollar the strengthen a bit against the Eur. An open and close below 1.5551 would be very good for any shorts. If he doesn't cut next time it would be very very good for Eur shorts . The Ever Watching The Euro VIPER Nothing in this post should be construed as trading advice. This post is intended as entertainment only. Before placing any trades please consult your CFP or broker first.
You're a longer-term trader. When considering a position it probably makes sense to cue into what the major players are doing. I found that the use of PnF charting provided me very good insight when I used to trade stocks, and while I don't use them for the futs, the information probably could be of value for position traders of any security. Below is a link showing the current status of all the major currencies. If you are familiar with PnF charts you will know what they are doing now, what would determine a trend reversal, and how to determine relative strength of one currency vs. another. PnF Charting (click on Market Summary on the left-hand sidebar, scroll down to Currencies) Holy Grail also as a good thread that explores the basics. Good Luck
Here's the info I mentioned regarding the optimal TimeZones for trading the curriences. Boy, the UK traders have made in a shade ... that's probably why we don't see cable trader around much, he's done with the BS and he's making bank. Later, JJ
I'm around, where's Reaver gone though, lost in action? Gotta ask, what does 'made in the shade' mean, not heard it before. I found another multi USD pair comparison indicator for MT4, not tried it yet so I don't know what it does or how well it does it... I've attached it as a .txt as it doesn't accept .mq4 so just change it.