IN what time frame do you use ADX and MA21? I've read a lot about ADX but never use it because it seems to tell you what has already happened, not what's about to happen. Also it doesn't seem to give a definite buy or sell signal like stochastics, ...

Trichet and ECB Rate increase.

Translation - next rate hike in February. Looks like EUR/USD is struggling to get past yesterday's high. Looks like a good sell to me.

Trichet and ECB Rate increase.

If you look on the charts there is almost always a retracement around the 1 or two minute mark. That's the time to get in but you can't hang around. Straddling would have got you killed the past couple of months because of the revisions.

Trading the NFP this friday

If he said "strong vigilance" the Euro would go up big time. He won't though. Here are the code words he has used over the past year: 1) continue to monitor closely all price developments = rate hike in 3 months 2) continue to monitor VERY closely ...

Trichet and ECB Rate increase.

The debate is not what happens today but what will happen next year - that's why the Trichet press conference is key. Will Trichet signal rates will rise in February or March or give no hint? If he signals March or gives no hint the Euro will drop. ...

Trichet and ECB Rate increase.

Show me any analyst who has said that ECB rates won't rise today. All the Reuters analysts are saying they will increase, unsurprisingly considering Trichet announced the fact last month. 1245 is when they hike and the market won't even blip.

Trichet and ECB Rate increase.

I prefer entering 1-5 minutes after the initial spike when it has retraced to 38.2 or 50 or 61.8 and then starts heading in the other direction again. Sometimes of course it's not so simple because there's whipsawing and you have to either play it ...

Trading the NFP this friday

There's NO difference of opinion on whether the ECB will hike or not (they will) nor is there a difference of opinion on whether the BofE will hike or not (they won't) so the market won't move. The big market mover is the Trichet press conference.

GBP interest rate statement

There's almost always a pullback of the initial spike to a Fib level then a continuation but true you shouldn't try to fade it or straddle it - wait for the retracement then get in.

Trading the NFP this friday

Nitman, because that would be destabilising. Steadily increasing rates by .25% every 2 or 3 months is what has been happening. He signalled last month that rates would increase this month. It's no secret. The market only reacts when something ...

Trichet and ECB Rate increase.

A rate increase is a 100% certainty - Trichet announced that (in his coded language) last month. It all turns on whether Trichet signals more rate increases to come or not. Again his coded language is easy to read into if you've been following it ...

Trichet and ECB Rate increase.

In the past where the dollar is overbought or oversold there has been a lot of position liquidation the day before NFP. As the dollar is now wildly oversold it makes sense to short EUR/USD at resistance now (towards 1.335) then you should already be ...

Trading the NFP this friday

Stop fighting yesterday's war people. Daily ocillators are blatantly signally a reversal.

Cable Update (GBPUSD)

Newbie traders are always trying to fight yesterday's war, looking for any little pullback to "get in on the trend". The massive up move is over (for the time being) so if you were weren't in on the way up, get in on the way down. Sell at the top, ...

Cable Update (GBPUSD)

59.8, from 59.3, expected 58.

Cable Update (GBPUSD)

For swing traders who like to buy at the bottom and sell at the top, cable is setting up nicely for a short. Either sell at resistance or sell a break.

Cable Update (GBPUSD)

Sometimes EUR/GBP is leading the way and EUR/USD and GBP/USD moves are just a by-product of that e.g. due to M&A flows or a technical breakout in EUR/GBP.

Cable Update (GBPUSD)

I see a bit of MACD, Parabolic SAR, Bollinger Bands, some moving averages but basically that just looks like spaghetti.

Cable Update (GBPUSD)

Good point. All the newspapers and TV programmes in the UK have run stories on $2 to the £ being just around the corner. As "ordinary folk" don't generally make money on the financial markets (they lose it) this is a good indicator of a reversal. As ...

Cable Update (GBPUSD)

This rally looks like the rally that ended on 17 May of this year. That also looked like a bull flag but was a top and the start of long 800 pip decline. The difference between a top and bull flag is only obvious with hindsight.

Cable Update (GBPUSD)