Gaining an Edge over the Forex game of Mind, Money, & Wealth
Monday, December 08, 2008
Dollar & Gold @120808
Tis’ The Season For Giving..
In keeping with the festive spirits, the Dollar may be giving back some of it's multi-month gain vs the majors.. However, with consecutive quarterly closes above Dollar Index 80, the short term bias is side to up range within the 82/87 zone prior to level shifting up to the 88/92 mid-term levels..
DX-Gold @120808
Goldies & dollar bullies can look forward to better levels to hoard gold & their favorite majors as markets usually follow through over the medium term after violating the yearly ranges..
Gold Weekly @120808
After flashing weekly cluster breaks below the 21&50 week ma for the first time since the initial run-up from 2002, Gold had confirmed a Golden cross with price capped below the 21&50 week ma clusters..
Gold Monthly @120808
Gold had violated the 21 month ma since the last update @100308, the break of 21 month ma tilt the odds for a mult-year side to down correction..
Merry Christmas & Have'pip New Year..
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..
In keeping with the festive spirits, the Dollar may be giving back some of it's multi-month gain vs the majors.. However, with consecutive quarterly closes above Dollar Index 80, the short term bias is side to up range within the 82/87 zone prior to level shifting up to the 88/92 mid-term levels..
DX-Gold @120808Goldies & dollar bullies can look forward to better levels to hoard gold & their favorite majors as markets usually follow through over the medium term after violating the yearly ranges..
Gold Weekly @120808After flashing weekly cluster breaks below the 21&50 week ma for the first time since the initial run-up from 2002, Gold had confirmed a Golden cross with price capped below the 21&50 week ma clusters..
Gold Monthly @120808Gold had violated the 21 month ma since the last update @100308, the break of 21 month ma tilt the odds for a mult-year side to down correction..
Merry Christmas & Have'pip New Year..
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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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