Gaining an Edge over the Forex game of Mind, Money, & Wealth
Thursday, January 13, 2005
van Gecko 09:28 GMT January 13, 2005
Haifa ac 08:06.. the scenario is indeed looking bleak for the Euro/Jpy bulls this time around with seasonal factors biased to the downside for another month or two..
a monthly close below 135 will be an Outside Reversal Month after being rejected up at the multi-year high with vely bearish Long & Medium Term implications.. below 132 will expose Euro bulls for more risks down to the 1.26/25 3 year range lows.. a break of which could trigger a multi-year decline back to the 90's.. a repeat of the 1998/2000 3 year bear run..
Cheerios..
Haifa ac 08:06 GMT January 13, 2005
EURJPY is sitting on a 4 year uptrendline (Monthly). We break this--we get a heck of a correction!
Trading is not an exact science contrary to the popular belief of most new or inexperience traders.. In trading, we must allow for some margin of errors within our defined risk & trading time frame.. allowing for this margin of error under the constraint of trading in micro time frames with stops & profit targets all inside a small fluctuating market noise band in hope of achieving consistent profits over time is very difficult, if not impossible.. as whenever we are right, we are only small right within the confine of the small P/L band which limit our odds to playing for break even at best over time.. Trading longer time frames allows for a wider margin of error but at the expenses of increased risk.. however, the odds of being right & achieving consistent profits over time are enhanced when good market analytic & trade management strategies are applied under the proper market bias.. When we are right, we need to ensure that we are bigger right over an expanded profit band in-order to compensate for those times when we are wrong..
Haifa ac 08:06.. the scenario is indeed looking bleak for the Euro/Jpy bulls this time around with seasonal factors biased to the downside for another month or two..
a monthly close below 135 will be an Outside Reversal Month after being rejected up at the multi-year high with vely bearish Long & Medium Term implications.. below 132 will expose Euro bulls for more risks down to the 1.26/25 3 year range lows.. a break of which could trigger a multi-year decline back to the 90's.. a repeat of the 1998/2000 3 year bear run..
Cheerios..
Haifa ac 08:06 GMT January 13, 2005
EURJPY is sitting on a 4 year uptrendline (Monthly). We break this--we get a heck of a correction!
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Trading is not an exact science contrary to the popular belief of most new or inexperience traders.. In trading, we must allow for some margin of errors within our defined risk & trading time frame.. allowing for this margin of error under the constraint of trading in micro time frames with stops & profit targets all inside a small fluctuating market noise band in hope of achieving consistent profits over time is very difficult, if not impossible.. as whenever we are right, we are only small right within the confine of the small P/L band which limit our odds to playing for break even at best over time.. Trading longer time frames allows for a wider margin of error but at the expenses of increased risk.. however, the odds of being right & achieving consistent profits over time are enhanced when good market analytic & trade management strategies are applied under the proper market bias.. When we are right, we need to ensure that we are bigger right over an expanded profit band in-order to compensate for those times when we are wrong..
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