@JAZES,
Sorry o,but your strategy is not good enough,go and learn how to use
PARABOLIC SAR,
STOCHASTIC,
EMA & SMA crossover(to detect wen resistance/support is broken)
          &
CANDLE COLOR/PATTERN
for effective & REWARDING Fx Trading

To prove to use dat your method is nt as such effective,referencing EU,b/n d time u posted your signal at 1:51am till 4:15am on thursday,02/09/2010 non of your stipulated resistance(1.2821) or support (1.2756)was reached nt to talk  of being broken,instead d mkt refused to move above 1.2814 resistance and 1.2785 support.

whereas using combination of those  indicators i specified above and during same period,b/n 1:51am nd 4:15am  i was able to make at least reasonable pips/gain dependin on lot/size used.

However may be your resistance/support would later be broken or violate d usin your term,for patience trader and as we know PATIENCE is part of needed strategy in dis biz

Wishin everyone happy nd rewardin trading

afroil:

@JAZES,
Sorry o,but your strategy is not good enough,go and learn how to use
PARABOLIC SAR,
STOCHASTIC,
EMA & SMA crossover(to detect wen resistance/support is broken)
&
CANDLE COLOR/PATTERN
for effective & REWARDING Fx Trading

To prove to use dat your method is nt as such effective,referencing EU,b/n d time u posted your signal at 1:51am till 4:15am on thursday,02/09/2010 non of your stipulated resistance(1.2821) or support (1.2756)was reached nt to talk of being broken,instead d mkt refused to move above 1.2814 resistance and 1.2785 support.

whereas using combination of those indicators i specified above and during same period,b/n 1:51am nd 4:15am i was able to make at least reasonable pips/gain dependin on lot/size used.

However may be your resistance/support would later be broken or violated usin your term,for patience trader and as we know PATIENCE is part of needed strategy in dis biz

Wishin everyone happy nd rewardin trading

I agree with jamace, though I like to be able to interpret a clear direction (possibly) of a trend before trading. I am not able to do that with EU so, it is a 'no trade' for now. I would be more comfortable to trade GU. GBP is not loved currently.

The difference between brokers' prices are minimal, or so I think.

@afroil, what will you say about me who trade without any single indicator?

jamace:



You are a magician!

Kashif:

LOL! But really, I wonder why all those people who claim to see the future not harvesting millions from the fx market

JAZES:

Hello,
i have decided to stand on the sideline and watch what the market will do because of the NFP. I sometimes love to just watch the market cos it allows me to take time out and also allows me to reflect.
I am wishing everyone a lovely weekend.

paulo1234:

Good morning,

I read something about the foundation of a good trader from W D Gann. I will briefly mention the five as stated:

1. Knowledlege
2. Nerve
3. Good Health
4. Solid trading rules
5. Capital

hope you can evaluate where you stand.

stagger:

Fears about the NFP are baseless because traders lack knowledge on how to trade it. The best currency to trade is the USDJPY.

The key parameters to watch are : NFP change and Unemployment rate.


Do not trade if the two figures conflict: NFP more negative, unemployment rate down.

Sell USDJPY if NFP more negative, unemployment rate steady or up.
Buy USDJPY if NFP more positive than expected, unemployment rate down.

The best way to trade this item is to wait until the market is about to close on Friday for the weekend. Usually after the initial spike, there will be a retracement to the support or resistance for the last day or two. Use a pending order to setup a trade in the direction of the NFP result. By Monday, the trade will trigger and give you a minimum of 100 pips.

I will watch this news item and update it here.

Kashif:

In line with my thoughts too. Have scanned the charts this morning and saw that a couple of entries have been missed. Today looks like one of those days - sidon look. Opportunities might still spring up anyways.

Where is martog?

stagger:

Fears about the NFP are baseless because traders lack knowledge on how to trade it. The best currency to trade is the USDJPY.

The key parameters to watch are : NFP change and Unemployment rate.


Do not trade if the two figures conflict: NFP more negative, unemployment rate down.

Sell USDJPY if NFP more negative, unemployment rate steady or up.
Buy USDJPY if NFP more positive than expected, unemployment rate down.

The best way to trade this item is to wait until the market is about to close on Friday for the weekend. Usually after the initial spike, there will be a retracement to the support or resistance for the last day or two. Use a pending order to setup a trade in the direction of the NFP result. By Monday, the trade will trigger and give you a minimum of 100 pips.

I will watch this news item and update it here.

paulo1234:

Happy new week,

Hope you are happy as I am? I will be grateful if we can analysis what is going on on EuroGbp. I see a good trend developing favouring buying. Please do you same.

Best Trading.

Kashif:

Personally, I favour a sell on this one. My reason being that it has approached the .8360 resistance. Second, the H1 chart shows what I see as an evident upward move slowdown. If you must go long, wait for this resistance to be broken.

Just my 50kobo.

honeric01:

Is anyone watching UJ, is it trying to break downward or what? it's been dragging between 83.80 and 84.80, does anyone have a case study on UJ?

martog:

This pair is at a major support level, and this dates back to May, 1995. On the weekly chart, we have 2 back-to-back reversal candles, and on the daily chart, we have had multiple reversal candles. My take on this is that I remain flat, till I see momentum on the long side.

My 50kobo ,according to Kashif


I do not think is time to buy UJ until the resistance to the up side is broken. Yen has been proven to be strong trend on weekly, monthly, daily charts. For me I do not buy pin bars against the trend. The trend is your friend.

Best Trading.