Turtles are the best - page 3
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Gold at 350
Gold at 350
Oil at 25
Oil at 25 should be 10 but I'll say 25
Why I'm bullish the Dollar for now
The dollar index has been in a bear for the last 6 years and then I got a signal on the 23rd September 2008 that the bear was turning into a bull.
Now all the dust has settled and we now know what the FED is up to (printing money) I won't stand in the way. After all the FED knows exactly what it is doing, the biggest robbery the planet has ever see.
Anyhow here are some charts. My long term MA has started to turn up for the first time in 2 years on my daily chart.
Have a good one.
It's just a WMA set at 220 close. You already have it.
Thank you for the indicator
Xard777
Where we are now
Cable has a way to go yet. But Cable is not finished as Mr. Jim Rogers would have you believe. We all know what he and his partner Mr. Soros did back in 1992. They caused a run on the pound and made an enormous amount of money in the process. For those of you who don't know what happened go here
Black Wednesday - Wikipedia, the free encyclopedia
and here
BBC ON THIS DAY | 16 | 1992: UK crashes out of ERM
now some charts, remember this one the head and shoulders, where we are now, where we are headed.
Euro
The Euro has held up well considering all that has happened. But not for much longer expect a sustained pushed down. I'm looking for 0.9201 yes 0.9201.
These central banks are minting it big time as their currencies devalue. One central bank I know very well has a 40:40:20 strategy USD:EUR:JPY held in reserves and you know what they did in 2007? As gold appreciated they took the profits and increased their yen holdings. We know this one is not selling any gold.
Now back to the euro below 1.3255 we are headed lower, now the charts.
Have a look at GBP/CHF there is a huge head and shoulders on the weekly chart but it's a complex one. I'll leave that one for you to find for home work. It broke the neckline back on October 21st 2008, target not meet yet over 5000 pips.
All those fancy squiggles make my head hurt. Turtle trading was based solely upon price action, not indicators. It's clearly defined in concrete rules which are tailor made for programming into a computer.
The fundamental concept of turtle trading, though, is to cut losses and maximize profits. The basis of all trend trading is to accept a relatively low win/loss ratio and focus instead on making the wins much larger on average than the losses. Much patience and discipline is required, which is why computerized trend trading is such a successful field.