Gaining an Edge over the Forex game of Mind, Money, & Wealth
Wednesday, June 07, 2006
Syd 18:57 GMT June 7, 2006
Citi Go Short Cable
Technical analysts at Citi went short cable@1.8565 with a stop@1.8665 and an initial downside target of 1.8250. Cit says they await further confirmation of the downtrend which would be seen if major support at 1.8500/10 breaks. "that range was very important in the 2005 downmovebut the really pivotal level on sterling on the way up was 1.7935 which this development would not threaten" the analysts write.
van Gecko 08:02 GMT June 7, 2006
iw.. yes, hard to kick those old regal habits..:)
Helsinki iw 07:45 GMT June 7, 2006
Gecko, she has been getting ready for that for some time now, hasn't she? A touch of nerves in front of the leap?
van Gecko 07:40 GMT June 7, 2006
her majesty getting ready for an Olympic medal dive down to 1.8450..
van Gecko 06:49 GMT June 7, 2006
GBP..
yesterday's session close below 1.8650 after another failure infront of 1.89 confirming more strength for this "IBS" dollar leg.. a weekly close below 1.85 could jump start another 5 figure Merry Go South Slide down to 1.80..
Cheerios for all Short marching European Sons Of Beatrices..
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..
Citi Go Short Cable
Technical analysts at Citi went short cable@1.8565 with a stop@1.8665 and an initial downside target of 1.8250. Cit says they await further confirmation of the downtrend which would be seen if major support at 1.8500/10 breaks. "that range was very important in the 2005 downmovebut the really pivotal level on sterling on the way up was 1.7935 which this development would not threaten" the analysts write.
van Gecko 08:02 GMT June 7, 2006
iw.. yes, hard to kick those old regal habits..:)
Helsinki iw 07:45 GMT June 7, 2006
Gecko, she has been getting ready for that for some time now, hasn't she? A touch of nerves in front of the leap?
van Gecko 07:40 GMT June 7, 2006
her majesty getting ready for an Olympic medal dive down to 1.8450..
van Gecko 06:49 GMT June 7, 2006
GBP..
yesterday's session close below 1.8650 after another failure infront of 1.89 confirming more strength for this "IBS" dollar leg.. a weekly close below 1.85 could jump start another 5 figure Merry Go South Slide down to 1.80..
Cheerios for all Short marching European Sons Of Beatrices..
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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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