Thread: CookieMonstas Journey Into the Forex World

Fundamental Analysis works, but it takes a long time to work its way into the charts, and meanwhile distinct occasions, may perturb and shake the price up and down while it is moved into by it value point as indied from the fundamentals.

Technical Analysis informs us what previously did happen, and it doesn't exclude fundamental analysis, it merely told us what did happen, meaning suppose should 2 fundamentals are in play for state EURUSD, lets say ECB bank rate is tomorrow, and NFP is the day after tomorrow, that which you could see is price moving down today, then after the ECB bank rate launch, it moves up, then after the nfp the price moves down.

What technical analysis tells us is that these 2 are enormous fundamentals which the markets are extremely concerned about. Once ECB bank rate is discharged, it's priced in, and the market is looking at NFP, so that is the second most important matter. So markets might attempt to price in that, and due to that the impulse tide moved up by ECB bank rate is possibly no more valid at least until after NFP, where all of the markets participants have a opportunity to digest both movements and weigh them initially, then to the day after NFP, they start the real trend.

See how the player profiling works, NFP is another uncertainty, after ECB, so fundamentals and technicals are extremely route dependent.

So in fact, traditional technical analysis works, just that people have only been doing indior rigid procedures, and refused to correctly analyse price, but should not be confused with newbies who do not really understand trading, these newbies, all they need is appropriate knowledge. It applies to folks who want to become rich quick without placing any actual work into studying trading as a profession.

Go read Richard Wyckoff's the day trader's bible, WD Gann fact of the stock take, and Jesse Livermore reminiscence of the stock operator, and also see when you've got the opportunity, read munehisa homma's book on trading, after which you contrast it with all the black box type trading, its very distinct.

Its not to say indiors don't work, however you got to know how to correctly ANALYSE them, thats why its called technical ANALYSIS, so using your mind to think what price is conveying to you.

If you want to understand indiors, go read the formulae of the indiors, determine if what's done on it actually has an advantage, all it really does is attempt to frame a very restricted view of what the markets do today, provided an ASSUMPTION, the key is, as an instance, you're looking at stochastics, it presumes you're already in a market range. Professionals who do utilize indiors don't use this way, and im not certain if they utilize indiors, many do not because their mind can select it out faster than indiors anyhow, the indiors only slow them down.

Personally, I do not use indiors as its very lagging, just the bare charts will do.

hellow CookieMonsta thank you share your own egy
this's way analysis take you?

Understanding when and how to reduce down losses, is an art in itself.

And here do not mean utilizing stoplosses.

No stoploss doesn't no mean cut reduction.

If its too much to salvage, its better to simply start anew.

The specific money management that I use is from TAF, which is just the fibo skew of 1.6 for saving and 0.6 for attack, usually it's adjusted on the fly according to the sense, and sometimes, if I feel the momentum is great enough I might add more, inside my capability, state im on scout and degree 1, I can jump amounts and go 2x degree 2 instead, while keeping some book troopers in case it fails.

Only a review for next week's fundamentals and news.

Drivers from past week, gbp and usd.

Next week, probably usd, nzd and aud, and maybe some gbp.

Some outstanding relationships, look at cny, word on the street is that, cny is fairly vested in usd, largely because they hold alot of usd treasuries, and also eur, therefore when cny news or fundamental comes out, it may produce a shockwave effect and flow to usd and eur also, although the currency itself is not in state eurusd, but such relationships are around.

These is a part of ro3k as mention in TAF is talking about, how these relationship manifest on these charts.

These relationships might not be as apparent until you see the import and export as well as major trading partners list.

As for nzd and aud, cny is the major trading partner of these states so by default if cny affects them, you will see them proceed.

Origin: Forexforum.co.za calendar.

Note: I don't trade these news, I highlight them so I can prevent them and try to square down as much as possible before their release.

Anyway nothing is set in stone, ability to react in adverse circumstance is your best trading skill anyone can have.

Btw, I didn't analyse direction, I just note that they have some type of relationship in the way that they go, as for leadership, the market will show us their intent, I simply take cue from price action.

Hi CookieMonsta

great luck my friend, will soon be watching with interest.

regards

Phil.

Originally Posted by ;

Hi good luck my friend, will be watching with interest. regards Phil.

Thanks Phil,

Originally Posted by ;

hellow thank you discuss your egy that is way analysis take you? picture

Hi hitan234,

I don't actually know gold as much, so do take my analysis using a pinch of salt, so it appears to me the prior h4 push, is rather strong, so currently, the lean is with dollar strengthening, but note that IF that were a topping formation, I believe there'll be better opportunities to get in a small brief temper as price pullback.

So I feel the most important thing is NFP has impacted it quite abit.

Notice that, on the daily, price is congesting quite abit. So we may still maintain a range untill price takes a push down and brings back to test it in a feeble way signaling resistance. This is just 1 way to watch price action, notice is 1 spontaneous move, two things, h4 showed us another pullback signaling either deficiency of buyers or vendors or both. It's a probability to get a continuation into the down side than a push that is upward when that happens.

As for the suitable method to capitalise, the timing window should be when price begin to stall after a pullback. Set up a scouting place, to see that it's an impulsive move and whether it goes in the money.

Do note 1 thing, since this is following NFP, do wait to the next us session to open and then watch how it functions, it can be the markets searching stops following NFP to square down to the weekends.

1 thing, after it breaks the Redbox into the upside which you've drawn, it may indie a major timeframe reversal. Along with the pair may become bullish.

In conclusion, currently, I am pretty bearish about the pair, but it is not convincing enough for me to get a position in, mainly because the downward push can have two reasons, first rationale is a genuine push, 2nd is they are just hunting stops, therefore it may be wise to await a pullback to observe how price pullback and only if it pullbacks in a feeble way, then it can be worth getting into.

As for any correlations to look at, this I don't actually understand, since I've never trades gold before.

Originally Posted by ;

quote Hi , I do not really know gold just as much, so do take my analysis with a pinch of salt, it appears to me that the prior h4 push, is rather strong, so currently, the tilt is with dollar reinforcing, but note that IF that were a topping creation, I think there will be greater opportunities to become at a small short scout as price pullback. So I feel the most important issue is NFP has impacted it abit. Notice that, on the daily, price is congesting quite abit. So we might still be in a range untill price takes a push and pulls...

thank u sir answer. . I'm follwing and study your thread...

Originally Posted by ;

quote thank u sir reply. . I am follwing and study your thread...

Hello no probs.