The Wanderer
Member
- Messages
- 90
- Likes
- 0
FX now up and running on Capital Spreads 
April '04 Forex
- Thread starter Newtron Bomb
- Start date
- Watchers 15
FetteredChinos
Veteren member
- Messages
- 3,897
- Likes
- 40
morning all, anyone else short on cable?
im short from 1.7695. decisive break of support from the overnight session, plus banging on down through the 1.7700 round number level.
on another good note, we finally won at footie last night. a solid 6-2 victory, taking us narrowly out of the relegation zone
FC
im short from 1.7695. decisive break of support from the overnight session, plus banging on down through the 1.7700 round number level.
on another good note, we finally won at footie last night. a solid 6-2 victory, taking us narrowly out of the relegation zone
FC
Morning chaps,
Today's US Reports
Personal Income and Outlays - 13:30 GMT
--------------------------------------------------------------------------------
Definition
Personal income is the dollar value of income received from all sources by individuals. Personal outlays include consumer purchases of durable and nondurable goods, and services.
Why Do Investors Care?
The income and outlays data are another handy way to gauge the strength of the economy and where it is headed. Income gives households the power to spend and/or save. Spending greases the wheels of the economy and keeps it growing. Savings are often invested in the financial markets and can drive up the prices of stocks and bonds. Even if savings simply go into a bank account, part of those funds are typically used by the bank for lending and therefore contribute to economic activity. The only way savings fail to contribute is if they are deposited in the First National Bank of Serta (under the mattress), and not too many people do that anymore.
The consumption (outlays) part of this report is even more directly tied to the economy, which we know usually dictates how the markets perform. Consumer spending accounts for two-thirds of the economy, so if you know what consumers are up to, you'll have a pretty good handle on where the economy is headed. Needless to say, that's a big advantage for investors.
Consumer Sentiment - 14:45 GMT
--------------------------------------------------------------------------------
Definition
A survey of consumer attitudes concerning both the present situation as well as expectations regarding economic conditions conducted by the University of Michigan. Five hundred consumers are surveyed each month. A preliminary survey is usually reported about the second Friday of the month while a more complete survey is reported two weeks later. The level of consumer sentiment is directly related to the strength of consumer spending.
Why Do Investors Care?
Strong economic growth translates into healthy corporate profits and higher stock prices. The bond market focus is whether economic growth goes overboard and leads to inflation. Ideally, the economy walks that fine line between strong growth and excessive (inflationary) growth, which is what happened through much of the nineties. As a result, investors in the stock and bond markets have enjoyed huge gains. If and when the party comes to an end, more than likely a change in the economic trend will be the culprit, and that change might be tipped off by a change in consumer sentiment.
Consumer spending accounts for two-thirds of the economy, so the markets are always dying to know what consumers are up to and how they might behave in the near future. The more confident consumers are about the economy and their own personal finances, the more likely they are to spend. With this in mind, it's easy to see how this index of consumer attitudes gives insight to the direction of the economy. Just note that changes in consumer sentiment and retail sales don't move in tandem month by month.
Good trading everyone.
Today's US Reports
Personal Income and Outlays - 13:30 GMT
--------------------------------------------------------------------------------
Definition
Personal income is the dollar value of income received from all sources by individuals. Personal outlays include consumer purchases of durable and nondurable goods, and services.
Why Do Investors Care?
The income and outlays data are another handy way to gauge the strength of the economy and where it is headed. Income gives households the power to spend and/or save. Spending greases the wheels of the economy and keeps it growing. Savings are often invested in the financial markets and can drive up the prices of stocks and bonds. Even if savings simply go into a bank account, part of those funds are typically used by the bank for lending and therefore contribute to economic activity. The only way savings fail to contribute is if they are deposited in the First National Bank of Serta (under the mattress), and not too many people do that anymore.
The consumption (outlays) part of this report is even more directly tied to the economy, which we know usually dictates how the markets perform. Consumer spending accounts for two-thirds of the economy, so if you know what consumers are up to, you'll have a pretty good handle on where the economy is headed. Needless to say, that's a big advantage for investors.
Consumer Sentiment - 14:45 GMT
--------------------------------------------------------------------------------
Definition
A survey of consumer attitudes concerning both the present situation as well as expectations regarding economic conditions conducted by the University of Michigan. Five hundred consumers are surveyed each month. A preliminary survey is usually reported about the second Friday of the month while a more complete survey is reported two weeks later. The level of consumer sentiment is directly related to the strength of consumer spending.
Why Do Investors Care?
Strong economic growth translates into healthy corporate profits and higher stock prices. The bond market focus is whether economic growth goes overboard and leads to inflation. Ideally, the economy walks that fine line between strong growth and excessive (inflationary) growth, which is what happened through much of the nineties. As a result, investors in the stock and bond markets have enjoyed huge gains. If and when the party comes to an end, more than likely a change in the economic trend will be the culprit, and that change might be tipped off by a change in consumer sentiment.
Consumer spending accounts for two-thirds of the economy, so the markets are always dying to know what consumers are up to and how they might behave in the near future. The more confident consumers are about the economy and their own personal finances, the more likely they are to spend. With this in mind, it's easy to see how this index of consumer attitudes gives insight to the direction of the economy. Just note that changes in consumer sentiment and retail sales don't move in tandem month by month.
Good trading everyone.
The Wanderer
Member
- Messages
- 90
- Likes
- 0
For any USD/CHF traders using 3 hour breakout system 8am-10am I make the figures as follows:
Short-1.2894.Stop @1.2934.
Long-1.2995.Stop @ 1.2955.
Guess that an up trade could be iffy with 3000 barrier in mind but who knows :| :|
Will report back when I've been bombed out-not in my nature to get it right 2 days on the trot
Short-1.2894.Stop @1.2934.
Long-1.2995.Stop @ 1.2955.
Guess that an up trade could be iffy with 3000 barrier in mind but who knows :| :|
Will report back when I've been bombed out-not in my nature to get it right 2 days on the trot
Neil
Interestingly, I have been considering a filter, related to the trading range of 01:00 - 09:00, of 60 pips. In other words, if the range is 60 or less, I trade; if greater than 60, I don't trade.
Today's ranges are EUR 61 pips and Cable 95 pips, so, in theory, I shouldn't trade the BO system today.
Interestingly, I have been considering a filter, related to the trading range of 01:00 - 09:00, of 60 pips. In other words, if the range is 60 or less, I trade; if greater than 60, I don't trade.
Today's ranges are EUR 61 pips and Cable 95 pips, so, in theory, I shouldn't trade the BO system today.
neil said:
FetteredChinos
Veteren member
- Messages
- 3,897
- Likes
- 40
nice chart goobs. kinda ties in with what im thinking. im STILL in this cable short from 1.7695. got pretty close to being stopped out, but its starting to come back..
still no trigger on the BO strats yet
FC
edit:- never really looked at wolfeywaveys. any chance of a basic primer. ie a summary in a nutshell?
still no trigger on the BO strats yet
FC
edit:- never really looked at wolfeywaveys. any chance of a basic primer. ie a summary in a nutshell?
FC
“Wolve Waves in a Nutshell”
Here is a brief description on Wolve Waves as you’ve never seen before. You will notice that the following rules differ to published rules.
For a bearish Wolfe Wave:
Look for a bottom (e.g. point 2)
Point 3 is the top of the first rally
Point 1 is where a horizontal line, drawn from point 3, intersects with the rally prior to point 2.
Point 4 is the bottom of the decline after point 3 and should be +50% retracement of point 2 and 3.
Point 5 is the top after point 4 and is likely to exceed the extended line 1-3.
NB. Point 4 must have formed to identify potential Wolfe Waves.
Draw extended line 1-3
Draw extended line 1-4
Draw extended line 2-4
Draw parallel line of line 2-4 that intersects with point 3
On the attached chart, the shaded area between extended line 1-3 and the line parallel to line 2-4 is called the buy/sell zone. This is the entry point for a ride to line 1-4 (EPA)
Estimated Price at Arrival (EPA) is extended line 1-4.
Estimated Time of Arrival (ETA) is apex of extended line of top of rally prior to point 1 (point PT on attached chart) and point 2 to 4. Draw vertical line from apex down to line 1-4. The EPA and ETA are where these lines intersect (point T on attached chart).
For a bullish Wolfe Wave, reverse the above.
Please note that Wolfe Waves need to be confirmed with volume, which is not available on Forex. They do, however, work well on futures.
“Wolve Waves in a Nutshell”
Here is a brief description on Wolve Waves as you’ve never seen before. You will notice that the following rules differ to published rules.
For a bearish Wolfe Wave:
Look for a bottom (e.g. point 2)
Point 3 is the top of the first rally
Point 1 is where a horizontal line, drawn from point 3, intersects with the rally prior to point 2.
Point 4 is the bottom of the decline after point 3 and should be +50% retracement of point 2 and 3.
Point 5 is the top after point 4 and is likely to exceed the extended line 1-3.
NB. Point 4 must have formed to identify potential Wolfe Waves.
Draw extended line 1-3
Draw extended line 1-4
Draw extended line 2-4
Draw parallel line of line 2-4 that intersects with point 3
On the attached chart, the shaded area between extended line 1-3 and the line parallel to line 2-4 is called the buy/sell zone. This is the entry point for a ride to line 1-4 (EPA)
Estimated Price at Arrival (EPA) is extended line 1-4.
Estimated Time of Arrival (ETA) is apex of extended line of top of rally prior to point 1 (point PT on attached chart) and point 2 to 4. Draw vertical line from apex down to line 1-4. The EPA and ETA are where these lines intersect (point T on attached chart).
For a bullish Wolfe Wave, reverse the above.
Please note that Wolfe Waves need to be confirmed with volume, which is not available on Forex. They do, however, work well on futures.
Attachments
Last edited:
Chow
Thanks m8. I notice that, although EUR went down to 1.1926, it has bounced a tad.
I used to trade FTSE Futures from South Africa using Wolfe Waves with some success. However, I lost a shed-load of money overnight in August 98 when the Asian markets crashed.
I might be tempted again - we'll see!
Thanks m8. I notice that, although EUR went down to 1.1926, it has bounced a tad.
I used to trade FTSE Futures from South Africa using Wolfe Waves with some success. However, I lost a shed-load of money overnight in August 98 when the Asian markets crashed.
I might be tempted again - we'll see!
MGBRoadster
Member
- Messages
- 91
- Likes
- 0
FetteredChinos said:still no trigger on the BO strats yet
Ther are so many BO strategies that there had to be a trigger on one of them LOL
EURUSD was falling at 8:00, so I saw that as a trigger of 1-8 BO
Went short when I got into the office 1936 about 8:10 with a stop above the overnight high at 1985
Cancel that - stop just triggered -49
It's been a bad week, but a good month overall
