Obsidian

Summary of open orders and positions:

Core CPI Canada.........

you may want to check book reviews and search them on the internet, there are also plenty of free e-books-videos about trading.

only consecutive ones :rofl: anyway... Markets' reaction to economic news News or data are always read by the market along the prevailing market bias. Data can provide a good reading for the state of the market. If the data is bad but the price is still rising or not affected, it must be a bull market which means buy on dip strategy is a better one. Conversely, if the data is good but the price is not rising or even falling, it must be a bear market which means sell on bounce strategy is a better one. The inflexion point must be when bad news or good news. no longer affect the prices as they have done before. Medium/long-term bias changes are usually accompanied by such reactions to the news. It is not the numbers that counts but how the market reacts to the numbers that counts. That gives some comfort to those who are not privy to the numbers already.

weekly jobless claims & existing-pending home sales

only 7-8 people on the whole forum using indicators? come on, we don't bite

if it does not move, sharks can't find "small fishes" to eat

nice video, I think data gathering style has to change somehow...

Joshdance, I am trying to do but I don't trade full time so there are times that I miss these movements. Recognizing patterns may take time, so I focused on gbp/usd only. Besides I don't know if you can see similar patterns on other pairs. I doubt that. From the charts I post (all pairs) you can see that I do not use any indicators (except ichimoku clouds). I feel more comfortable when I follow trend lines, patterns. I will try to post here meantime if I can see any of these patterns.

Summary of open orders and positions:

Wish I could say there was an easy way but you need to learn that much information...learn trading basics first, then focus on the instrument that you want to trade...you will see that all pieces are coming together at the end...

Each cycle is different from the last one and that is the beauty of the market. It is extremely important to look at the big picture from the distance rather than studying the minute and hourly charts with a microscope. And repeat the whole show again and again until it shows the sign of turning in daily or weekly chart. As a rule of thumb, 20 MAs in 8 hour, day, week and month are useful for its directional tendency and as a resistance and support point. EUR/GBP and GBP/CHF are leading indicators for EUR/USD and USD/CHF GBP/JPY, EUR/JPY and CHF/JPY are leading indicators for USD/JPY Generally speaking, if EUR/USD does not move but EUR/GBP moves first, it is a good indicator that someone is maneuvering in EUR/USD front in the same direction later, and when EUR/USD moves but EUR/GBP does not move first or in tandem, then it is highly likely EUR/USD move is countered by its opponent and the opposite move is highly likely soon.

slow moving pairs but they are moving in the right direction eur/gbp is good for a couple of months, or till it hits 0.7960

today there was a similar example to these V shapes:

scientists are wasting money for nothing, they could have asked a bunch of married couples to find the answer in a couple of minutes :rofl:

Summary of open orders and positions:

On technical side of the trading, the first thing to do is to find out the trend in one's trading time frame and the proper trading strategy for that trend. Some ride positions for months, while some ride positions for less than an hour or a day and their views of the trend obviously differ. For a trader who is running a position for months, a daily fluctuation may be just a meaningless noise while for a day trader or an hour trader, a daily fluctuation could be a monstrous tsunami. Having a precise definition and a technique of identifying a trend and the turn of a trend in a trader's time frame, and adopting the right strategies for that trend is the first elementary step in a hard school of trading. Chart reading is not to predict the tops or bottoms of any move, but to confirm the change of trend as soon as they are made and adopt right strategies in that new trend.

I think you should blame the one who is still looking to improve that curve

"bulls make money, bears make money, pigs get slaughtered"

Yesterday's candle says eur bulls won't give up easy meantime, aud/nzd (long), usd/cad (short), eur/gbp (short) seems fine for a couple of weeks

Another pattern I see on GBP/USD is V shaped formations...price drops (usually more than 70-80 pips) to a level and it starts to rise sharply in a short time. it rises very fast and passes above the highest point before it fell. Therefore they create a very nice hammer formation on longer time frame charts. At that point you understand that bullish momentum is strong and it will bring give you some pips

EUR/AUD continues to move inside the 4H channel...

Breasts lead to arrest of Anonymous hacker Police allege that an Anonymous hacker posted a picture of his presumed girlfriend's breasts as a taunt to U.S authorities. The picture allegedly contained GPS information that led the FBI to her. Pride in one's lover's bodily parts can lead to a fall in one's own bodily security. That seems to be the lesson from the tale of an alleged hacker, Higinio O.Ochoa, a 30-year-old Linux administrator from Galveston, Texas, who was arrested by the FBI and charged with unauthorized access to a protected computer. The accusation, as described by the Sydney Morning Herald, is that Ochoa hacked into several Web sites belonging to law enforcement. Sometimes, though, the temptation to leave a calling card can be too great. So Ochoa allegedly used a Twitter account to direct people to a Web site when all the law enforcement information he'd supposedly hacked was on display. Also on display was a picture of a woman, her breasts lowering themselves tantalizingly toward the camera, with a sign beneath them reading: "''PwNd by w0rmer & CabinCr3w <3 u BiTch's''. Now CabinCr3w is the apparent name of an Anonymous offshoot. And the "w0rmer" part? Well, the Twitter account linking people to the site was @AnonW0rmer. However, the photograph of the breasts apparently linked authorities to Ochoa -- because, taken with an iPhone, it contained GPS information. The information allegedly suggested she lived in Melbourne, Australia. Further burrowing led the police to discover a posting on Ochoa's Facebook page that allegedly revealed his girlfriend was Australian. The claim is that police have managed to match pictures of her that Ochoa allegedly posted on Facebook to the breast image. To the untrained eye, this might seem curious, as the Facebook pictures allegedly show her face, while the taunting picture does not. Perhaps the authorities have gone beyond mere facial-recognition technology and are in possession of software that can match other bodily parts with astonishing accuracy.

your contribution is much appreciated

TREND TRADING: Accumulation and Distribution Forex market like any other market works in a very simple way. It accumulates in a certain area for awhile, and once the accumulation is over, it advances to a certain distance until distribution starts, and accumulation happens again and advances to a certain distance again, and repeat and repeat. Day trading may not yield the best results while the accumulation and distribution work out itself, being double-murdered by zig-zag moves, while the market starts advancing out of accumulation area, day trading is a sure way of cutting profit short. In general, day trading is not the best form of yielding the most profits in my experience contrary to what some writers who never made real money in this game try to say. The safe and better way in making some money must be wait for "accumulation" to be over and ride the whole length of advance until "distribution" starts and reverse as the market dictates as a short-term trade for 2-10 days, as the case may be. Please study 8 hour or 4 hour line charts or candle charts, especially the patterns and 20 MA inside the charts for a few months everyday, and you will discover what I mean by accumulation and distribution for short-term trades in Forex market. Forex market always needs this process, so you can decide what tactics you will use at a given stage.