When ready I'll make a call.
Do it on demo:
Get ready to short USDCHF
If we do not have the signal in 15 minutes, I could not give it if it is the case, cause I must get out for a while.
I muse because we had bad news for $ (like Durable goods -4.8) but dollar rises. Do anybody have a justification.
As nina said: trade what you see
Housing sales came out a bit stronger than expected
Stop on that short on USDCHF should be at 1.2185 bid.
I'll give the entry.
I must go now for a while.
USDCHF is going to make new highs.
I noticed there is a Level 1 signal. But the points did not go very far and back again. If I long there and did not get out soon, I may lost some pips. Could any body tell me, how to filter this kind of signal? How to determine the strength for this kind of signal.
I remembered that Nina has updated the system with adding the EMA200. At 9:00cet, the EMA50 is under the EMA 200 so the trend is down. So we do not trade long. Is this right to explain this Level1?
New York May
23. Lower gold prices, and a bout of general dollar-driven profit taking has
USD/CHF attacking important resistance levels around 1.2200 (See 2340 ). Gold
on the Comex has dropped to a session low $641 per oz for the June contract, off
$20 since the opening. Momentum accounts, and CTAs have also been buying USD/CHF
to lighten up positions, as rumours continue to circulate throughout the markets
of hedge fund losses in commodities, precious metals and currencies.
An observation made by a senior FX man at a trading fund last week keeps ringing
in my ears. Amidst the initial "risk aversion" trades pounding EM last week, and
the Euro"s failure to break out topside he commented "This is it, the real
deal", the Dollar is going to rally from here. His explanation was that the
second part of the risk aversion trade is for traders to liquidate profitable
positions, and move to the sidelines. His observation was that the largest
position being run anywhere was short USD. His logic was that "they will
continue to take chips off the table". This and the large fund manager"s call
for a four month dollar-cycle low the week before last has this observer
watching the technicals carefully. Peter.Wadkins@thomson.com
The signal at 9 CET is perfectly good. You could have made some pips and then gotten out at news time.
About the EMA's:
What they mean is that price will tend to gather there. Just because one EMA is very near, or under the other, isn't the better observation. The bigger picture, is that when they are bunched up as they are (50, 120, etc, etc) the price will have more attraction to flow to that area.
The trend at 9 CET was up, as indicated by Hist_StepMA_Stoch. You could have taken that trade and made 30 or more pips. After that you could have made even more when the news came out, by going short.
someone here know ehat is the win/lose ratio of catfx50?