Gaining an Edge over the Forex game of Mind, Money, & Wealth
Friday, December 01, 2006
the Falling Dollar on Economist Covers
EU ZORRO 18:48 GMT December 1, 2006
shanghai bc 18:38..
...I feel the same....IMO market will test CB's next weeks.....
...hope to see gold benefict from this story too.....
...would like to add that imo, it will be very dificult to buy EUROS again below 1,30 in the next year...
shanghai bc 18:38 GMT December 1, 2006
In all probability,this forex train from mid-Oct is unlikely to stop and reverse without cb interventions at some stage..It is at its early stage so far..Dolar Index 80 is a fair target,to start with..Whether Dollar can hold its multi-decade support 80 is a good question too..No matter what,do not stand in front of the train.
euro @1.3344 GBP @1.9846
van Gecko 09:01 GMT December 1, 2006
FW CS 02:29.. how much more fuel is left in the euro tank on this run will depend on her majesty's performance up here against the 25 year resistances and it may be of interest to note euro, GBP & their lead Crosses all started their 2 previous Thanksgiving runs from much lower historical levels & resistances then the current run.. that said, quacking ducks do get lucky once in a while as FxWorksInWackyWays..
FW CS 02:29 GMT December 1, 2006
van Gecko 23:57 thanks for the kind words
Is your quacking duck indicator getting louder yet? I was thinking 1.34-1.36 temporary Euro top and we are close now.
Medium term scenario something like this 1.35> 1.29 (not sure yet how deep)>1.40
Cannes Oil man 00:42 GMT December 1, 2006
van Gecko 23:57 GMT November 30, 2006
thanks gecko..
But , end of month is closed for most institutional , some close tomorrow at 11GMT.
What does it mean , u will ask...Well E$ from here might not be as rosy as it was..Tomorrow will be the day , of profit taking (even though that can be done if a bad news of us$ without too much of a move down) , and then from there , the real show begins..
Push or no push from here..We will know tom.
What i see is that fund books closed exactly when E$ reached 63..
Since then it's been stumbling a little..
You know me well enough , that when everyone calls for 2.10 in GBP$ , i start looking for other possibilities..The move tomorrow , will be decisive.
Still dollar bearish atm..But with my FX gloves on.
gl gt
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..
EU ZORRO 18:48 GMT December 1, 2006
shanghai bc 18:38..
...I feel the same....IMO market will test CB's next weeks.....
...hope to see gold benefict from this story too.....
...would like to add that imo, it will be very dificult to buy EUROS again below 1,30 in the next year...
shanghai bc 18:38 GMT December 1, 2006
In all probability,this forex train from mid-Oct is unlikely to stop and reverse without cb interventions at some stage..It is at its early stage so far..Dolar Index 80 is a fair target,to start with..Whether Dollar can hold its multi-decade support 80 is a good question too..No matter what,do not stand in front of the train.
euro @1.3344 GBP @1.9846
van Gecko 09:01 GMT December 1, 2006
FW CS 02:29.. how much more fuel is left in the euro tank on this run will depend on her majesty's performance up here against the 25 year resistances and it may be of interest to note euro, GBP & their lead Crosses all started their 2 previous Thanksgiving runs from much lower historical levels & resistances then the current run.. that said, quacking ducks do get lucky once in a while as FxWorksInWackyWays..
FW CS 02:29 GMT December 1, 2006
van Gecko 23:57 thanks for the kind words
Is your quacking duck indicator getting louder yet? I was thinking 1.34-1.36 temporary Euro top and we are close now.
Medium term scenario something like this 1.35> 1.29 (not sure yet how deep)>1.40
Cannes Oil man 00:42 GMT December 1, 2006
van Gecko 23:57 GMT November 30, 2006
thanks gecko..
But , end of month is closed for most institutional , some close tomorrow at 11GMT.
What does it mean , u will ask...Well E$ from here might not be as rosy as it was..Tomorrow will be the day , of profit taking (even though that can be done if a bad news of us$ without too much of a move down) , and then from there , the real show begins..
Push or no push from here..We will know tom.
What i see is that fund books closed exactly when E$ reached 63..
Since then it's been stumbling a little..
You know me well enough , that when everyone calls for 2.10 in GBP$ , i start looking for other possibilities..The move tomorrow , will be decisive.
Still dollar bearish atm..But with my FX gloves on.
gl gt
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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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