I’m still catching up with the thread which is moving so fast. Am at page 166 now, & could not resist making a reply to this post # 1660 that I just read. I must say this is the most judicious view on BE I’ve come across so far. Aaron said he is a technical mgr, a programmer… Believe this means he has engrg background. I feel v proud, cos am also an engineer 
Henry
P/S: sorry, non-engr pl don’t feel bad <g>
Got mine set for silver at 20.48 as I think it get there and maybe pull back to go further.
Darth
Wanted to share two observations i made with you.
First is a bullish flag pattern that got confirmed on the GPBUSD 4 hour chart today where price just has broken the top of the flagpole. Personally i will not make any trade based on this but i thought it could be interesting for some of you who might take advantage of this. 
The second one is a possible bearish engulfing bar that is forming on the daily chart of USD/JPY. We still have 2,5 hours before it closes but if it closes strong it could provide a good trading opportunity for a 1:3 risk:reward ratio if a retracement entry is used.
I’m to tired to wait until the candle closes so i will see what has happened tomorrow when i wake up. If it looks promising i may place an entry order at 102,926.
Other than that i do not find anything interesting in the pairs i am watching. Anyone else seeing something of interest?
Every day about and hour or two before the opening of London session i scan about 11 pairs for a potential setup and i always find one sometimes more. I only take trades that’s 1:3 ratio. One of the truths about Market data is that there is always an opportunity to make money it’s just our perspective due to some kind of fears or other emotion that blocks out most of the valuable money making information but it is there my friend. Screen time and experience play a big role in having setups just jump out of the screen.
[QUOTE=“Jcandle;577032”]Every day about and hour or two before the opening of London session i scan about 11 pairs for a potential setup and i always find one sometimes more. I only take trades that’s 1:3 ratio. One of the truths about Market data is that there is always an opportunity to make money it’s just our perspective due to some kind of fears or other emotion that blocks out most of the valuable money making information but it is there my friend. Screen time and experience play a big role in having setups just jump out of the screen.[/QUOTE]
Well, that depends on which timeframes you are looking for setups. I only trade the daily and weekly charts due to my full time job and other projects at the moment. And if we are talking about trading only solid price actions signals on daily charts at key support and resistance levels i highly doubt you will find one good setup a day monitoring only 11 pairs. I am monitoring 20 at the myself.
Taking all kind of different strategies and time frames into account i guess there are a gazillione possibilities every day to make huge amounts of money int the market of course. 
But i agree with you that our own perspective of the market in combination with many psychological factors filter out many good trading opportunities. And thats exactly why everyone must have a solid trading plan which dictates what a good setup is and what not.
Hi, how would a rise in rate of interest effect the nzd pairs?
Darth
liked how bullish silver closed today so adjusted tp to 20.58. Hopefully It will carry on strongly.
Darth
Rising interest rates causes the currency to rise
It looks like $21 silver is a real possibility, at which point you run into an overlapping horizontal and trend line resistance. I believe most of the rally happening are bears covering their shorts, which can turn south quickly. Given the strong bearish movement and the budget deal that just passed on the house, I would say more bearish movement is in short order. Gold and silver has been very news and speculation driven lately, as well as the dollar.
Yea i was speaking intra day time frames. When a trend is beginging it starts off on the lower time frames and spreads to the higher longer ones but the higher time frames are in command. Whether position traders time their entry’s on intra-day time frames or just use the daily as the lowest time frame i wouldn’t know i don’t position trade.
So if the country is looking strong ecnomically then there is a good chance of interest rates going up I assume?
Darth
You seem like a nice guy 
.Thank you for sharing your time and knowledge with us.
I wouldn’t necessarily say that a country with a strong economy has a good chance of raising it’s interest rates. If you look back at the 1970’s during the Jimmy Carter era, our economy was terrible and interest rates were around 20 %. Interest can be used for a number of reasons involving inflation, revenue and banking.
Hey fxhering, I would like to think I’m a nice guy, haha. Thank you for the kind words and dropping by. Will we be seeing you more often in the thread?
Actually, interest rate is often really high when the inflation skyrockets. In Indonesia, our interest rate once hit all time high of 70% when the inflation was 77%. That was during Asian financial crisis in 1998. 
Yeah, inflation is complicated issue, even among global investing community. I remember during my national brokerage exam (and indeed I now have a valid brokerage license myself. The math itself is totally a piece of cake for a physicist, but the national/global law and economics analysis, man, that’s quite a challenge. Maybe I should further enhance my financial competence by taking CFA. Hey, if you have a dream to become a professional investment manager, nobody will blame you if you also aim to have the official qualifications yourself. Besides, that fits my idea of pursuit of happyness. ) about how a nation will decide where to invest their money overseas.
Well, for the very short answer, let’s just say it depends on the interest rate of the designated country, and the reasonable prediction on how the Forex rate between 2 nations will fluctuate annually.
After the dismal 70s, the US has Reaganomics. Kinda miss the good ol’ 80s and 90s, actually. Let’s just say the Americans back then really embraced the idea that “Greed, for the lack of better word, is good. Greed works!”
And why not? The US was superbullish for 20 years virtually uninterrupted! You don’t even need to be a Buffet, if you buy Dow index in the early 80s and hold it until 2000, wealth is easily within grasp.
… of course, until everyone started getting back to their sense in 21st century, though. The bear is always there, no matter how unstoppable the bull looks like.
I noticed you mentioned taking the CFA. If you take any exams or get any licensing, please let us know! Those are huge accomplishments in ones investing career. I am planning on getting my series 3 license this year which involves options, futures, hedging, margin requirements, and regulations. I read in the US you can invest for up to 14 people and up to $400,000 before you need any sort of licensing to break that barrier(this is for commodities and securities on the NYSE).
Thanks, Captain! Also good luck with your Series 3 exam. Sounds like a tough one there. 
I think I have passed what roughly corresponds to Series 7 exam in the United States. I don’t know with the States, but I must say that the test was really tough. The pass rate is only about 20% - 30% in my country.
I have actually passed two tests already, one for Broker-Dealer representatives, and another one for Investment Manager representatives. If I take another test for Underwriter representatives and pass it, I will basically have the full formal capacity in Indonesian stock market and analysis officially.
But even if I pass it, that will mean nothing as it’s not something the international community acknowledge outside Indonesia. CFA, on the other hand, is something the financial world acknowledge internationally. If not because of the 48 months qualified work experience, I will have applied myself for CFA program right here right now.
I hope you pay for this NZDians!! I took the 4hr pin bar and then boom…goodnight!
I have been restricting my trades this week, in fact this is the first one I have taken. I am having a horrible time trading at the moment…
Here were the pro’s and con’s which helped me to take the trade and what I have learn’t:
Pros:
With trend
Valid pin bar
Roughly the same size as previous bar
Con’s
Would have liked it to have stuck through RS further
What I should not have done: Taken a retracement entry!!! I need to stop this, it does not work for me. The reason I took retracement was to allow a greater stop loss.
I should also add that there was also a bullish engulfing bar on the hourly further re enforcing my plan to go long.
