Ok ladies, handbags at dawn is too early for me…lol… enuf ego stuf ok?!..man oh man you men!!!
fx-ET…if you’re going to do this, then do it with a bit more of a sense of humor…:D…or don’t call home…and don’t be a tease…lol
Why do some people (and it’s not just you fxET) need to get so uptight when first coming into a place like this under the guise of helpfulness and then put on the guilt trip when they don’t get the gratitute/respect they feel they deserved to get right off the bat.
And of course the same goes in reverse…when a new idea is presented and not understood so a “wall” (or back as it seems) goes up (ie as in what happened to TRO).
Now MP as colorful as he is…lol…has a much better presentation for his more “advanced” ideas and nobody has a problem with it! (Well almost no one…exceptmaybetymen)
“Build a bridge and get over it!”
Sooooo fxET…:D…I saw your post about a eurusd trade of a couple of days ago…the 19th…and you correctly predicted price would drop to 1.3060, and it did. The you predicted that it would go back up to 1.3225…which it didn’t. Then you said it would drop again like a roller coaster…which it did as you said, but not from “where” you said. So like any good questioning student would say…whaz-up with that?..lol
And…what do you mean by by forex is about timing…timing based on chart patterns but are not the typical ones we’ve come to know such as double bottoms, head & shoulders etc…?
If you prefer to respond on your new thread then I, for one, would read it.
allow me to grant that youve exceeded any mere talents i might possess both in teaching and writing ---- youve gone round and round and printed word after word and said ABSOLUTELY NOTHING !
are you a politician by any chance !
if youre going to come here to “help” people, but not help them, it may turn out to be a rocky road indeed as hidden beneath the waves of this peaceful cove lie more than one expert trader and they WILL rip you a new orifice if they so desire, myself included !
so speak, rover ---- and let us see what you DONT have to say to us !
i DO love canadian women, but beginning to wonder about the men !
One word - sentiment. Two things drive markets - FEAR and GREED. Oil got to almost $150 a barrel because that was the true value of a barrel of oil? No - it was the market value of oil getting pushed to unreal levels of greed. Ever notice on the charts that uptrends have a somewhat orderly ascent and downtrends look more like collapses? Take a look at the EUR/USD and GBP/USD monthly charts for a visual of this. Fear is easier to create than greed. Greed is usually tempered with caution.
In FX, the basic theory is that that exchange rate of one currency against another is an expression of the strength or weakness of one country/zone’s economic condition in relation to the other country/zone’s economic condition.
When news is released - economic data, equities, commodities, major world events - these rates “reset” to different levels. We likes that! The reaction AND digestion of this news is what creates market sentiment - Fear (sell) and Greed (buy).
Example - The financal sectors in the equities market have been getting slammed. Great Britian is the largest player in the world in the financial sector. Couple this string of bad news along with UK GDP contracting for the 2nd straight quarter (official recession) and you watch the GBP get sold off like cheap socks at a flea market. Sentiment of their economy worsens, value of the currency deteriorates - against the USD, EUR and JPY, just to name a few.
Just remember - sentiment is not created overnight. It takes a combination of events to turn trends. Hope this helps…
As I have stated before, my presence here is just to point people in the right direction, not to transport them to there intended destination. However, for me to do this I need to prove that I know what it is that I am saying. I will not do so in this thread and thus no further explanation is required.
It’s not my nature to be uptight and I actually started this thread off pretty jovial but then the ashes turned into fire and just kept burning(phoenix).
As for my prediction on the retracement of the E/U, 1.3220 should have been 1.3120(even though it didnt reach there either)…still working on my accuracy:D.
Happy Trading!
Sooooo fxET…:D…I saw your post about a eurusd trade of a couple of days ago…the 19th…and you correctly predicted price would drop to 1.3060, and it did. The you predicted that it would go back up to 1.3225…which it didn’t. Then you said it would drop again like a roller coaster…which it did as you said, but not from “where” you said. So like any good questioning student would say…whaz-up with that?..lol
And…what do you mean by by forex is about timing…timing based on chart patterns but are not the typical ones we’ve come to know such as double bottoms, head & shoulders etc…?
If you prefer to respond on your new thread then I, for one, would read it. [/QUOTE]
you will “guide” the newbs to the promised land, but you WONT show them where it is, yet you put forth support and resistance areas which IS showing them !
another canadian joins the discussion, which becomes “interesting” !
so do we trade on times, which have been outlined here ad nauseum, or do we trade on support and resistance, which has also been outlined on this site complete with the indicators to allow newbs to do what you do.
btw sweetpips — its reasonably simple to call a reversal, BUT after the original, one is using the fibs and s+r and trying to GUESS the retracement, which is hard to do from a few days away !
DURING the retracement, one can usually nail the tp point because of direction, momentum, accompanying news (well, that creates momentum) and upcoming support or resistance points, but in the comfort of your home or office, well prior to the situation, trying to predict correctly exactly WHERE this will happen is like writing a “schedule” for a war — seems the war wont always cooperate with your best laid plans.
BUT, if you place my hallowed LRC on a 20 day/4 hour chart of EURUSD, WHAM — there are the predicted numbers smiling like mad back at you, complete with the prices ! So while in the comfort of an easy chair, you may not come up with the EXACT numbers, youre sure as heck going to be getting to the airport, and we can then figure where to land the plane, even if its a bit before or after the “X that marks the spot that was painted there a week before !”
Of course, my esteemed LRC is not the ONLY way to get to the truth as one can also use “fractuals” to prophesize results with amazing accuracy, which is being done constantly and becomes the basis of so much “black box” technology ! Modesty and complete ignorance of programming prevents me from going further with that thought, but interesting indeed is the speculation as to where this technology could lead !
NOW, unless im missing something here, like the correct day (and ive been trading that pair against the swissy constantly) the price DID reach what was stated, and so did my trades those days, especially the “overnites” !
SO — i attached the chart for your edification and entertainment – go gettem tiger !
aside from this persons rather brash and pointed manner of speaking, I would be interested in seeing what he does, as it sounds like a pretty decent look at behavior, trend and fibs, and since thats what forex is all about in reality, I would like to see his reality !
I like Phoenix as a member, and have to believe he saw something in your previous posts that “got” to his logical mind, but YOUR pouting behavior AFTER that is one of an extremely young person who feels so “terribly” wounded ! Believe my daughters went thru that when they were pre-teens !
so mr elite, why not GET OVER IT and lets see what you will teach here, as thats more important than any verbal sparring you shall bring forth.
OH YEAH — in the spirit of fun and whatever, MY PREDICTION as to where EURUSD is heading ---- we shall see 1.2133 most likely followed by 1.0045 and if that wee little number is broken, then watch for 0.823 to form a double bottom on the 10 YEAR/MONTHLY chart ! Do call me next year to congratulate me on my phenominal abilities although i shall be living on a sloop anchored off the coast of somewhere by then !
so without further ado, let the games begin !
enjoy and trade well
mp
[B][I]Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !
As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence – BUT I KNOW WHERE THEY HID THE KEY !!
[/I][/B]
