Today, 4th may 2010…all the pairs disobeyed the rules of almost all economic indicators and most technical indicators, candle stick charting and most of all my instinct.
Gush…This forex roulette is becoming unbecoming…anything goes…Do not assume anything just[U] follow[/U] blindly the rules/strategy set by you and you will never lose…
Today, the rules that I have used for 1 year went tumbling down on me…what is happening to this mad pairs…April came with a lot of surprises but May is even worse…I think the end time is coming…everything is going wild-Volcanoes erupting,terrorists doing their thing, earthquakes shaking the earth, Countries going bank-rupt…what is happening this year
My agitation stems from the fact that I lost alot of pips today…but some people I guess might have gained…But I learnt a very good lesson today…
NEVER TRUST THE NEWS
DO NOT USE CANDLE STICK CHARTING,USE BAR INSTEAD TO AVOID CONFUSION
STICK TO YOUR EMAS NO MATTER WHAT HAPPENS
i trully dont understand you, but suspect that you must lost some money today.
if yes, sorry.
but i dont see that technical analysis would fail today, indeed, i just got some nice long swing entries at 1.3010 for EURUSD, and my indicator seem to get to the extreme oversold, so, i am confident to hold it for a position trade, instead of the more common scalping i do.
you need some room, as obvious SL’s at 1.30 might be hunted down, but then it should be working like planned.
The market is going crazy today because everything get together like the fail terrorism attack at NY, JPY close, the election in GP and the doubts of the greece aid, make all the currencies go down vrs. the usd dollar. Will wha happen in the london session.
Bad luck mate. It does seem the world has gone crazy. There really does seem to be more natural/unnatural disasters more frequently!
The markets are doing their own thing as well. For example Aussie interest rates went up yesterday but got slammed down 190 pips afterwards. Should have been a sure sign of economic prosperity. Im guessing those bloody Greeks who are running the worst operation on the planet have something to do with it. Wild times at the moment!
Forex is crazy! Luckily that is what I am know for being as well:D This week has been quite predictable for my EUR/USD. Going short has been a no brainer for me. This is even supported by traditional analysis, Greece is not impressing anyone and Spain is on the way with Portugal and who knows who else is right behind them. I was just talking to my friend about warning signs right before the 2008 crisis and that we might be seeing similar warnings in the EU. I will be looking short for a while as these problems aren’t going away anytime soon.
The euro is going down really hard, it reaches the first support at 1.28 and the time is ticking to know what is going to happen in the Asia session, after 3 days of bank holiday. The next support is at 1.2740, will see, it seems every day is going down 100 pips.
