Forex Signal (Tuesday August 16, 2011 NY TIME 4:30am EDT NY Time EDT) - UK CPI
- Thread starter Stavro D'Amore
- Start date
David Leigh
Recruit
- Messages
- 7
Explanation please
The numbers we will look for:
BUY GBP/USD if we get 4.5%
SELL GBP/USD if we get 4.0%
What do the 4.5% and 4% refer to please? and where will I find them.
Thanks
The numbers we will look for:
BUY GBP/USD if we get 4.5%
SELL GBP/USD if we get 4.0%
What do the 4.5% and 4% refer to please? and where will I find them.
Thanks
sell usdjpy
The problem is that a negative number could mean risk aversion, and risk aversion can mean strong Gold, Swissy and Yen, but sometimes risk aversion spells USD strength. So you can get a situation where a bad number will cause panic and traders will flee from risky assets into the biggest market in the world...the US Treasury market.
The problem is that a negative number could mean risk aversion, and risk aversion can mean strong Gold, Swissy and Yen, but sometimes risk aversion spells USD strength. So you can get a situation where a bad number will cause panic and traders will flee from risky assets into the biggest market in the world...the US Treasury market.
Spike
Stavro,
You have said that:
From the original price before the spike to the tip of the spike, I use estimation; I then quickly draw lines so I know the level, easier to look at 5 min chart on spike than enter on 15min.
The spike usually happen within the first minute bar. From the original price before the spike to the tip of the spike. and usually market retrace after that first minute spike or continues higher.
If it continues higher without retracement after the first minute spike, we should consider the tip of the spike even after few minutes spiking up without retracement. Then whenever it retraced that will be the tip of the spike.
Does that make sense?
I am using Fibinocci retracement on the original spike to see how much it would retrace to what level (0.32 or 0.61) and based on that I decide to enter. It's different with every release/trade, and you never know to what level it will retrace and if it will even reach any or these levels or deeper,
or if not at all.
Is that a good approach or method to trade the retracement.
You said you draw a line, what do you mean and how you measure 30% or 50%?
On average how many pips of stop loss we should consider, is it true the deeper the retracement the bigger the stop loss should be?
Thank you for your valuable info, very much appreciated.
Stavro,
You have said that:
From the original price before the spike to the tip of the spike, I use estimation; I then quickly draw lines so I know the level, easier to look at 5 min chart on spike than enter on 15min.
The spike usually happen within the first minute bar. From the original price before the spike to the tip of the spike. and usually market retrace after that first minute spike or continues higher.
If it continues higher without retracement after the first minute spike, we should consider the tip of the spike even after few minutes spiking up without retracement. Then whenever it retraced that will be the tip of the spike.
Does that make sense?
I am using Fibinocci retracement on the original spike to see how much it would retrace to what level (0.32 or 0.61) and based on that I decide to enter. It's different with every release/trade, and you never know to what level it will retrace and if it will even reach any or these levels or deeper,
or if not at all.
Is that a good approach or method to trade the retracement.
You said you draw a line, what do you mean and how you measure 30% or 50%?
On average how many pips of stop loss we should consider, is it true the deeper the retracement the bigger the stop loss should be?
Thank you for your valuable info, very much appreciated.
Stavro D'Amore
Former FPA Special Consultant
- Messages
- 547
Since I am new into this thread I don't know yet how to response on some issues. But despite of that I am happy to be here on this forum.
We are happy if you are happy any questions or concerns just ask