FOREX PRO Weekly October 24-28, 2011

[rashidin5178]

Go to forexlive.com and read the latest posts.

Thanks bro!

Thanks and Best Regards.

 

[Sive Morten]

Sive

I don't know anything about futures. Could you briefly explain, and/or redirect me to a resource, about what a trader should keep in mind in terms of strategy when trading futures?

I mean, since the technical analysis part is the same, I assume the market structure must be different and therefore I guess one cannot conceptually approach the futures market the same way as one does the spot market.

Where to start? How to go about it?

Thank you.

Hi Triantus,
well, probably it more seems that there is a big difference, while in fact it very small.
Most futures on majors trade on CME - cmegroup.com Start from contract specification. Most interesting for you will be contract notional value, and trading shedule - first notice day.
For instance, EUR/USD has 125K value, not 100.
Also, some pairs are reversed - JPY/USD instead of USD/JPY, the same is for CHF.
THere are also mini and micro contracts exists... Just read the specification page for particular contract.
You'lll catch it fast.
Try to read FPA part, that dedicated to comparison futures to spot market - there are some more details there.

 

[Sive Morten]

EUR/USD Daily Update, Thu 27, October 2011

Good morning,
market has accomplished our trading plan for yesterday, but not quite as wee desired it. It acted due dynamic pressure and created new high, but not quite reached 1.27 target of butterfly before the plunge.
Later it has reversed up again and now reached this level - 1.3975.

On daily time frame I want to remind you that our primary level where we have to search for sell possibility is 1.4050-1.4120. Also I want to show you MACD Hist. that shows - upward momentum becomes weaker. This is not the divergence, since if you draw simple MACD - there will not be any divergence.

On 4 hour time frame trend is ready to turn bullish, market has reached 1.27 target of butterfly. Strong upward bar right to the target that has negated all previous move down tells, that market has not bad chances to reach 1.4066 - 1.618 target of butterfly.

On hourly chart trend is bullish. We see another butterfly, that has the same targets. Also intrinsic AB-CD pattern shows 1.618 target in the same area.
Currently market has reached AB=CD target and 1.27 ext. of butterfly, so in nearest hours some pullback is possible.
If market really intends to continue upward move - it should not break 1.39 K-support area.

Today is GDP release, so be careful. Our regression model tells that significant upward surpise could happen in todays GDP. But do not rely on this words, the purpose of this model is not for trading, so anything could happen - trade your plan.

 

[mayur sarkar]

wishes

hppy diwali 2 all my forex trader frnds

 

[Damian1987]

Sive regarding the futures conversation, I myself have moved to futures and I would like to know if you can teach me the main differences between the contracts. For example.. I see contracts that say. "pit" "electronic" "comb". then we have the continuation contracts, most liquid, expiration, "CAdj", "Gann" . I am a little bit lost and I couldn't found good info regarding this subject. I'm trading micros and minis of the CME, any suggestions?

Thank you master.

 

[Triantus Shango]

Sive regarding the futures conversation, I myself have moved to futures

Damian

I am always curious to learn more about brokers. So since you mentioned that you changed brokers, could you tell us what you didnt like about your previous broker and who the broker was? Also, which broker did you choose for trading futures? Thanks.

 

[Damian1987]

Damian

I am always curious to learn more about brokers. So since you mentioned that you changed brokers, could you tell us what you didnt like about your previous broker and who the broker was? Also, which broker did you choose for trading futures? Thanks.

hey man!.

My previous broker (OANDA) doesn't work with my new platform (Trade Navigator Gold) it's just that. So I've chosen a broker (futures and securities) that works with TNG, the name is Vision Financial Markets.

 

[Aldo Colombo]

Daily Analysis

No analysis today??

 

[Damian1987]

No analysis today??

https://www.forexpeacearmy.com/fore...528-update-daily-video-october-28-2011-a.html

 

[Sive Morten]

Sive regarding the futures conversation, I myself have moved to futures and I would like to know if you can teach me the main differences between the contracts. For example.. I see contracts that say. "pit" "electronic" "comb". then we have the continuation contracts, most liquid, expiration, "CAdj", "Gann" . I am a little bit lost and I couldn't found good info regarding this subject. I'm trading micros and minis of the CME, any suggestions?

Thank you master.

Hi Damian,
"Pit" means trading session, physically inside the exchange building. Say, as S&P trading. Traders physically come to exchange building, stand their places and trade by voice. The same happens with commodities.
Pit session is a part of overall trading session.
Electronic - I suppose this is a GLOBEX trading session - that's what you need. Although it's better to speak with Genesis to be absolutely sure.
Comb - this is a combination of Electronic and Pit sessions.

In fact, if you trade currencies only, you do not need to watch pit sesisons closely. They are extremely important on commodities, when you can check some important moments, say, was a crossover of 3x3 or not.

In terms of Genesis Navigator - it has some different from CQG contract codes.
When you watch charts longer than daily - you need continuation contract - "056". Say, for Gold it will be GC3-056 Comex Gold Elec Cont Exp
The same is for EUR. I suggest something like EU-056.
You may use as purely Electronic as combined contract. But probably combined is better.

IF you look at intraday charts and daily charts - you need to use lead contract. EUR trades at quarterly basis - March (H), June (M), September(U) and December (Z). Now is October, hence December is lead contract currently.
In CQG this is EUAZ11. EU - means EUR, A - Globex (electronic), Z - month, 11-year.
Something like that Trade navigator should have.
There is also "067" type of contract in GTN, as I know it excludes overnight sessions.
Try to dig it.
Ask any questions, I'll try to help. Currently - use 056 contract type for higher time frames (above daily) and lead contract for daily and lower time frames.
IF you want to look at daily for long-term history - also use 056 contract.