Friday trades
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Thread: Friday trades

  1. #1
    Join Date
    Dec 2006
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    Default Friday trades

    Did some one realy manage to predict what happend with market Firday. Usual during the week indicators + alalysis work in most cases.Now i understand why you dont recomend trade in Friday.I mean boom 70 pips in long and 20 min later boom 100 in short direction .Is it possible to cach that situation ?

  2. #2
    Join Date
    Dec 2006
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    124
    here is a list of all fundamental events (economic calender) taken from ForexFactory.com.

    what happend today was a result of weaker than expected CPI (customer price index) reports, who affected the dollar in a bearish way, and later on, only 30 minutes later, came out the TIC (treasury international capital) report, who was extremely better than expected and took the dollar back up.
    that's the why.

    whether you could have predicted it or not - not likely, most economists haven't - however you could have avoided it if you just looked the calender and saw that the "big influance" reports are coming out. or at least get yourself and your trade prepared accordingly, maybe even take it to your advantage.

  3. #3
    Join Date
    Dec 2006
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    Thank you ... i see now that those moves of market have fundamental reasons that affect Forex.Just like NFP report last friday.Hmmm that talk to me that i need to get at least basic fundamental factors that affect market at same time as i learning and testing technical analysis.I'm new to Forex and i dont hurry to put real money on it.I wish to build my own trading system that will work for me but what i knew so far is that to build somthing you need to get level of knoledge wich alow's you to build it.And i dont think that i have it atm.I learn whole the Babypips lesons and it help me a lot i start to see some image that looks like picture ... but still can't recognize any detail of it .
    Thank you again.

  4. #4
    BigPippin's Avatar
    BigPippin is offline The ***iest member of the FX-Men Superior Master Contributor and Member
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    Yes, fundamentals can really make technicals go to poop shoot especially because the market is kind of wishy washy on the Dollar right now. Unfortunately my Swissy trade did get stopped out, but I was prepared for that because I knew that there was alot of news today that could potentially hurt me if the news didn't go my way.

    However, the technicals still tell me that on the Swissy and Yen (which is where both my trades were/are) we could still see a reversal. Unless the Yen gets to 118.50, the divergence will still be in place on the daily chart. On the Swissy, there is a good bearish hidden divergence and I still see the pair moving down. The mistake was not in my analysis, but in my timing. I'm not being stubborn but until the technicals tell me otherwise, I still think these 2 pairs are going down.

  5. #5
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    I agree with you. Fundamentals break down Technical Analysis. But Friday, traders look to take a few wild moves in both directions, your chart is not likely to give you a clear direction. But you can still predict what traders are actually doing, yes you can predict this situation here is what happened today.
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  6. #6
    Join Date
    Dec 2006
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    Yes i saw your charts you are right but mention that:My mistake was that i didn't know about those 2 reports are coming and i watching mostly 1H 4H and 1D time frames as i trade mostly on 1H.If you have information of exact time of reports coming (wich i obvios miss) and watch what happend on faster time frame as you post 1M or 5M you probably can cach the ride.
    Thank you again.

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