FX-2007: Apr 02nd > Apr 6th

[The Pearl Fisher]

overbought indicators mean nothing at alllll

Can I just add to this Mr rav700.

"And all other indicators mean noticeably less"


TPF

 

[Atilla]

Can I just add to this Mr rav700.

"And all other indicators mean noticeably less"


TPF

Overbought indicators in a strong trending market mean much less then than in non-trending (sideway moving markets).

A bit like a good DIYer make sure you have the right tools for the job in hand...

 

[The Pearl Fisher]

The use of technical indicators in the Currency markets is as much use as a crystal ball is to a blind man.


TPF

 

[rav700]

When to short is a question that I dont even attempt to answer....
Profit taking is out of the question till I have another long position open....

 

[Phil Mibbutz]

The use of technical indicators in the Currency markets is as much use as a crystal ball is to a blind man.


TPF

Slightly less, I'm beginning to think. Anyone else hoping to scalp a few points on a short when it broke 800?

 

[Atilla]

Slightly less, I'm beginning to think. Anyone else hoping to scalp a few points on a short when it broke 800?

Until Euro hits 1.3350 I'm out. It can go to the moon for all I care (well I might shed a few tears but I'll still be here)...

As for cable, I like Offshore's idea take part profits and let the rest ride or take in on retrace.

However, given the rise 23% fib retrace to 1.9770 is only to be expected.

I wouldn't like to short cable today though.

Having said all that I have closed all positions now.

 

[Bez]

Good move Rav.

I'd stick with it. Break out is still in play.

Indicators becoming extended but since last Friday trend looks very strong.

Friday's low was the 4th low in a row into an Intermediate delta point...

 

[Atilla]

Friday's low was the 4th low in a row into an Intermediate delta point...

I haven't been applying DP yet Bez but will do soon.

I certainly know the significance of 4 though. Getting there.

 

[2be]

What is Delta Point. Could't find it on Google and I think I have not been reading about it. Is there a book or a website explaining. Sorry if the question is too obvious. Thanks for help.

 

[wasp]

The use of technical indicators in the Currency markets is as much use as a crystal ball is to a blind man.


TPF

depends how good they are

 

[trendie]

What is Delta Point. Could't find it on Google and I think I have not been reading about it. Is there a book or a website explaining. Sorry if the question is too obvious. Thanks for help.

Delta Phenomemon, Welles Wilder, etc
there may be a couple of threads about it (maybe even started by me)

Bez seems to be really into it, over on the SPX thread. lots of good charts to illustrate it.

would be good to get a Delta perspective over here on FX.

 

[The Pearl Fisher]

depends how good they are

You must use whatever gives you the confidence to trade.

For me personally, indicators have never been a favourite.



TPF

 

[2be]

Delta Phenomemon, Welles Wilder, etc
there may be a couple of threads about it (maybe even started by me)

Bez seems to be really into it, over on the SPX thread. lots of good charts to illustrate it.

would be good to get a Delta perspective over here on FX.

Thanks Trendie, I shall have a look. I usually like to get a book on the subject if there is one.

 

[The Pearl Fisher]

Buying @ 1.9776 (looking for 1.9890)


SL @ 1.9745


TPF

 

[geldmeister]

With today being a full moon i'd look more at the high today being a reversal point than the low on friday.

fwiw,

gm

 

[geldmeister]

Delta solutions are very subjective at first glance, and are based on patterns of price movement that are in a relationship to rotations of the moon, Intermediate Deltas look for patterns every 12 rotations starting on the full moon.

Beware this is a very extensive study to get anything out of it, not a once over and head to the charts - however the studies will lead a person into different areas that are worthwhile, if one likes the esoteric approach to trading, it’s a nice place to start to see how deep the rabbit hole goes.

correction, intermediate looks at every 4 rotations, medium term is every 12

 

[rav700]

I am currently short on gbp\jpy with a tight stop reverse trade....@
94 with a stop @ 20.....

 

[Atilla]

I am currently short on gbp\jpy with a tight stop reverse trade....@
94 with a stop @ 20.....

10 min chart definately looks like a short. I'll just watch it for a few minutes.

My CMC is showing a 8 point spread on GBPJPY? Is this the same for you Rav?

 

[rav700]

Spot on ...
I have just closed my position for +1 as I have an emergency....
I dont wanna miss out on the action see you in 5 mins

 

[rav700]

Okay watch out for the break out at 08 My trade entry will be 15 with a stop at 80
Short @ 78 with a stop at 15