How many indicators do you need?

[csc2009]

Now Im Not Use This Strategies, Because Im Not Patience Waiting
Now Im JUst See A Chart And 1 MA, Thats Enough For Me ..

How Was Your Strategies ?
I Hope Great ..

Patience, Patience, need to wait for a good set up (if standard deviation is low and expect it to rise following the momentum movement, that means I did a good set-up), otherwise it does not work!

 

[peeterwoolf]

USD/CNH still moving up!
How far can it go?

Regards
psa

I don't know how far can it go, but it still going up!

 

[Pharaoh]

Don't get marred to it. Look at the long term charts for USDCNY. No matter how many indicators you slap on them, the downtrend can't be hidden.

 

[csc2009]

The CNH exchange rate is driven by private demand and supply for CNH. The result is that demand for CNH generally exceeds supply. Therefore, the CNH is usually trading above the value of CNY. During the escalating European debt crisis, as fears for a large adverse impact on Chinese exporters due to a sudden drop in demand from Europe led to comments by Chinese officials that the USD/CNY-rate would be kept relatively stable. In anticipation of a higher fixing for USD/CNY, and as a result lower demand for CNH, USD/CNH traded higher.

 

[peeterwoolf]

It's still going up, expect go up to 6.29

 

[Pharaoh]

Check the USDCNY rate. It may lag on the CNH some, but it's retracing quite a bit on the longterm downtrend.

The hard part is guessing when the next economic speedbump will give the USD another downward push.

 

[peeterwoolf]

That's true!

 

[csc2009]

Has anyone actually trade this pair USD/CNH?

 

[Pharaoh]

Very few brokers carry USDCNH or USDCNY. This cuts into the number of retail traders who get to play with it.

Consider that the CNY is one of the most traded currencies in the world - further proof that retail forex could be outlawed tomorrow and the world would go on without us.

I don't trade CNY, but I do have a considerable deposit in that currency at my local branch of Mattress Bank.


Mattress Bank - Protecting your assets since 1929.

 

[csc2009]

Thank you, that's good to know.