I was sailing 10.5 when Empty4 GlobalPrime updated automatically to v500. Now 10.5 - windows 1 and 2 are empty. Has any one else reported this problem?
USING 4H CSS with 1H global currency movement. As expected it showed a big rise yesterday. Shows USD NZD and EURO angling up JPY and CHF angling down and the rest remained flat. So your best chances of continued runs would be eur/jpy, eur/chf and usd/jpy, usd/chf as buys. You can look at nzd/jpy and nzd/chf continue to angle down so they may be good as sells. Hard to trade some of these past S1/R1 on the weekly. If they come back inside on a retrace I may take a chance later in the day on them.
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Once in a while someone writes a great article. Some of you may have read Trader Jack's thread on trading with the fox lurking in the back ground. Here is how one fox teased the market yesterday and trapped the sellers. Burned a lot of people and then let the buyers jump in and take him to a nice profit. The question then becomes will this person continue the move or trap the buyers will a series of sells this evening and pull off a great coup. This is like a Sherlock Holmes story. Someone should make sure Captain Jack gets this one. The story is about the old fashion way a market mover would trap the market into his favor. Great stuff. I am sure you will enjoy.
Here are some of the paragraphs of the story. Happy reading.
It was not triggered by some government official’s statement, which many thought would be the impetus to propel the dollar higher. It was done in the old-fashioned way: by a clever trader with an order large enough to catch a market somewhat off-guard.
In a seesaw-like fashion, the trader bid the dollar higher by 10 pips at a time — FXspeak for one-tenth of a yen –and then lazily stepped back to allow the currency pair to drift a few pips lower. The trader would then step back in aggressively, once again lifting the dollar higher.
The trade was executed with a workmanlike precision with very little wasted effort. At each break when the buyer stepped back in, sellers became emboldened, thinking the buy order was filled. They would then move in to sell dollars aggressively in an attempt to push the dollar/yen pair lower, only to be met once again by a tenacious buyer.
If I understand the story properly the day went something like this. Dang it feels great to be on the right side of these things. Sorry but I am kind of giggly today.
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nanningbob wrote:If I understand the story properly the day went something like this. Dang it feels great to be on the right side of these things. Sorry but I am kind of giggly today.
Yesterday was a nice trading day... Let's see if the JPY pattern holds where there is a change in JPY weakness around the 11th and since that is on a Saturday will it happen today?
nanningbob wrote:If I understand the story properly the day went something like this. Dang it feels great to be on the right side of these things. Sorry but I am kind of giggly today.
Yesterday was a nice trading day... Let's see if the JPY pattern holds where there is a change in JPY weakness around the 11th and since that is on a Saturday will it happen today?
There is a JPY event later today that probably will answer that question. Either way I am not getting into multiple levels with the thing. If it breaks previous highs and runs. I will be in if not Oh well.
nanningbob wrote:If I understand the story properly the day went something like this. Dang it feels great to be on the right side of these things. Sorry but I am kind of giggly today.
Yesterday was a nice trading day... Let's see if the JPY pattern holds where there is a change in JPY weakness around the 11th and since that is on a Saturday will it happen today?
There is a JPY event later today that probably will answer that question. Either way I am not getting into multiple levels with the thing. If it breaks previous highs and runs. I will be in if not Oh well.
Let's see if the JPY pattern holds where there is a change in JPY weakness around the 11th and since that is on a Saturday will it happen today?