Gaining an Edge over the Forex game of Mind, Money, & Wealth
Sunday, December 11, 2005
van Gecko 09:20 GMT December 11, 2005
la oleg.. interpetation of triangle are subjective in most cases.. imo while Eur/Gbp's movements had been contained within another triangle formation over the last couple years since breaking out of its previous L/T triangle in 2002.. however, repeated rejection infront of historical highs & falling trendlines with multiple attempts to penetrate major monthly & weekly ma supports over this period does not bore well for another upward continuation.. Euro had been pausing infront of the 1.16 figure recently compliment of the strength in Eur/Jpy & Gold.. but imminent good size correction by one or both plus a lagging GBP could see both Euro & Eur/Gbp breaking their short term supports.. it'll be interesting to see what effect will have on our favorite Canada Geese under this scenario.. good trades..
la oleg 19:10 GMT December 9, 2005
van Gecko 06:30 -- good to read your posts. appreciate your view on eur/gbp... to my naive eye appears to be an upward continuation pattern unfolding... though have no clue if it will be led by euro strength or sterling collapse. best of trades.
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..
la oleg.. interpetation of triangle are subjective in most cases.. imo while Eur/Gbp's movements had been contained within another triangle formation over the last couple years since breaking out of its previous L/T triangle in 2002.. however, repeated rejection infront of historical highs & falling trendlines with multiple attempts to penetrate major monthly & weekly ma supports over this period does not bore well for another upward continuation.. Euro had been pausing infront of the 1.16 figure recently compliment of the strength in Eur/Jpy & Gold.. but imminent good size correction by one or both plus a lagging GBP could see both Euro & Eur/Gbp breaking their short term supports.. it'll be interesting to see what effect will have on our favorite Canada Geese under this scenario.. good trades..
la oleg 19:10 GMT December 9, 2005
van Gecko 06:30 -- good to read your posts. appreciate your view on eur/gbp... to my naive eye appears to be an upward continuation pattern unfolding... though have no clue if it will be led by euro strength or sterling collapse. best of trades.
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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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