Gaining an Edge over the Forex game of Mind, Money, & Wealth
Tuesday, November 28, 2006
Tallinn viies 21:08 GMT November 28, 2006
DOLLAR: A couple of traders suggesting that a chunky dollar-index trade
washed through the market to push the euro above $1.3200 and cable atop
$1.9510 and that once that dollar selling was through, the dollar
recovered slightly. Other traders also make note of the fact that
despite broadly mentioned dollar negative sentiment in the market, the
greenback recovers quickly from dips to fresh lows, although it never
quite makes back all of the lost ground. A lack of conviction may be the
symptom behind that price action, one trader says, explaining that
traders are quick to take profits on positions after "buying the high"
and then enjoying some modest follow-through. That trading style though,
suggests that few have solid dollar shorts on board, the trader says.
Provided by: Market News International
GVI Jay 19:59 GMT November 28, 2006
A history lesson for when gbp/$ was last above 2.00. Read about Black Wednesday
GVI Jay 19:46 GMT November 28, 2006
GBP/$: Approaching last major resistance at 1.9552 (Dec 16, 2004 high) before a void uf key levels until 2.00+
London Gooner 16:44 GMT November 28, 2006
Geneva 16:30 GMT November 28, 2006
Sell euro buy dollar, target 1.14!
Not necessarily a wild call. Market dumping USD but has not yet started playing end of ECB hikes. When & if that kicks in USD bulls will jump on the occasion. If one can sell EUR with s/l above 1.3670.
I would be suprised Trichet will want to calm things down sooner rather than later.
Geneva 16:30 GMT November 28, 2006
Sell euro buy dollar, target 1.14!
van Gecko 12:29 GMT November 28, 2006
it had been over a quarter century since GBP last visited the 2.00 moonscapes and all 6+ fig monthly extensions up to the 16 year range high 1.93/1.98 band are the end of the line for her majesty's bull soldiers..
so, with the odds stacked against her majesty poking its head above the 16 year range high, what are the odds for euro landing up at 1.36 again this year?
London Iain 10:40 GMT November 28, 2006
absolutely book talking, but for me we're in the classic early stages of a trend (USD), where plenty of people have missed the very beginning of the move and are now either looking for where the bottom will form or are waiting for USD bounces to sell into whilst the USD just goes down steadily...
in time more and more people (if this is indeed to be a strong trend) will give up waiting for bounces and just get straight in and the fuel for the fire and speed of the move will only increase....
cable 2.100 in Jan/Feb anyone????
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..
DOLLAR: A couple of traders suggesting that a chunky dollar-index trade
washed through the market to push the euro above $1.3200 and cable atop
$1.9510 and that once that dollar selling was through, the dollar
recovered slightly. Other traders also make note of the fact that
despite broadly mentioned dollar negative sentiment in the market, the
greenback recovers quickly from dips to fresh lows, although it never
quite makes back all of the lost ground. A lack of conviction may be the
symptom behind that price action, one trader says, explaining that
traders are quick to take profits on positions after "buying the high"
and then enjoying some modest follow-through. That trading style though,
suggests that few have solid dollar shorts on board, the trader says.
Provided by: Market News International
GVI Jay 19:59 GMT November 28, 2006
A history lesson for when gbp/$ was last above 2.00. Read about Black Wednesday
GVI Jay 19:46 GMT November 28, 2006
GBP/$: Approaching last major resistance at 1.9552 (Dec 16, 2004 high) before a void uf key levels until 2.00+
London Gooner 16:44 GMT November 28, 2006
Geneva 16:30 GMT November 28, 2006
Sell euro buy dollar, target 1.14!
Not necessarily a wild call. Market dumping USD but has not yet started playing end of ECB hikes. When & if that kicks in USD bulls will jump on the occasion. If one can sell EUR with s/l above 1.3670.
I would be suprised Trichet will want to calm things down sooner rather than later.
Geneva 16:30 GMT November 28, 2006
Sell euro buy dollar, target 1.14!
van Gecko 12:29 GMT November 28, 2006
it had been over a quarter century since GBP last visited the 2.00 moonscapes and all 6+ fig monthly extensions up to the 16 year range high 1.93/1.98 band are the end of the line for her majesty's bull soldiers..
so, with the odds stacked against her majesty poking its head above the 16 year range high, what are the odds for euro landing up at 1.36 again this year?
London Iain 10:40 GMT November 28, 2006
absolutely book talking, but for me we're in the classic early stages of a trend (USD), where plenty of people have missed the very beginning of the move and are now either looking for where the bottom will form or are waiting for USD bounces to sell into whilst the USD just goes down steadily...
in time more and more people (if this is indeed to be a strong trend) will give up waiting for bounces and just get straight in and the fuel for the fire and speed of the move will only increase....
cable 2.100 in Jan/Feb anyone????
Comments:
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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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