Well there’s a short term indicator that seemed to indicate well, - in fairness the oscillators were indicating the timing - having said all of that there were guys selling Euro last Friday and yesterday.
Is the going good right now after this morning’s flurry of Euro buying?
Well there is some Gold buying and USD selling (N Korea) little in the way of numbers today so maybe a little pull back.
Indicators are usually not so good on their own, they are just indicators
Yeah, and given the wee bit of Gold buying yesterday, usually USD negative…
There were some guys commenting yesterday that Eur/Gbp was not making a new high whereas Eur/Usd was reaching on up. They saw this as negative Euro, (some even shorted) and since this thread is on indies,Oscillators were likely diverging suggesting a fall off in momentum.
That’s the thing about indicators, the market has to be thought about - good chance there was a drop in momentum, for two reasons - 1) UK bank holiday yesterday and 2) Traders were waiting to see what would happen when Eur/Usd hit the 2000 - NK gave EUR/USD the boost to clear out any stops and add in new buys.
Anyways, Bob is right, it’s all down to the grey stuff, now checking out.
That was this morning, so the pull back duly happened - the indicator that gave the clue to this was the US10yr daily - reached up to the high mentioned earlier and bounced.
Now to see if it will head North in the days/weeks to come.
I have really felt comfortable using indicators like SAR, as after trying nearly all indicators; I found this one working best. The best part is that this indicator is very simple and easy to use, so even if anyone is no all that much experience, it’s still possible for him/her to use it easily. I have so far managed profits consistently since using it and hope it continues same way for me ahead as well.
You say in your profile that you’re a “forex expert and analyst” with 4 years experience.
(It took me a lot longer than 4 years. It takes everyone a lot more than 4 years to acquire “expertise”, but you don’t know that. Strange.)
If you’re such an expert, why are you stealing text from other people’s websites and pasting it into the forum as “your own post” without accrediting or acknowledging it?
Might it be because you want people to think you’re an “expert”?
Indicators are poor tools to trade by, they fail to accurately identify entry or exit prices. Not only that, they fail to do this in good time.
They can be useful though in confirming a set-up in which trading can take place, confirming the directional bias for the next trade, and allowing objective comparison between set-ups on different charts so the trader can select the best target.