2009.05.21 WHAT YOU DON'T KNOW...

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TheRumpledOne
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2009.05.21 WHAT YOU DON'T KNOW...

Postby TheRumpledOne » Thu May 21, 2009 6:12 pm

2009.05.21 WHAT YOU DON'T KNOW...

Image

http://blogs.fxstreet.com/marketreadings/

A typical downward extended stop hunt in GBP before further rise
Posted on May 21, 2009 at 10:34 in Market comment, Market forecast, Operators' intentions by Dr. S. Sivaraman17 Comments ?

special report:

GBP after cutting the high 1.5813 was holding near high during start of the European session.Then the event of rating is used as trigger to make an extended stop hunt to 1.5517 and then in less than 30 min the recovery to 1.56 area was done.Further rise they are expected to make using other events.Those tend to believ the fundamental data and short might be trapped.The extended stop hunt was done mainly to trigger all the trailing stops of the long holders and the players also quickly booked profit and re-eneter long mainly to gain levels rather than taking more buy positions.They have accumulated the buy positions and are expected to rise and rise to off load the positions.So they intend to make big rise for week end and another 2 weeks to come.

they will also try some such quick moves in EURO as well during the quick rise time.They have already done in USD/YEN to accumulate longs in YEN crosses.EURO/GBP is also used to make big moves to confuse traders whether to take long or short.Taking sell position near or above high and cover during quick drop could be the best trading strategy in EURO/GBP.In majors buy and sell trading could work well - buy during quick drop and book profit during quick rise.

Regards

Dr.Sivaraman


http://www.reuters.com/article/ousiv/id ... A320090521

http://www.reuters.com/article/ousiv/id ... nnel=10531


If you look at the chart, you will SEE that price has done the EXACT OPPOSITE of what you would have thought:

1) UK downgraded - first price drops, then runs up huge.

2) USA not downgraded - price rises, then drops like a rock.

3) IF YOU WERE NOT SMART, YOU TOOK THE BAIT, YOU ARE CAUGHT, EVERYTHING REVERSED AND THEY DRAINED YOU!

This is the reason why you must TRADE WHAT YOU SEE IS HAPPENING and NOT what you think SHOULD HAPPEN or is GOING TO HAPPEN.

CAN YOU SEE WHY 95% OF TRADERS LOSE?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Shinobi-X
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Re: 2009.05.21 WHAT YOU DON'T KNOW...

Postby Shinobi-X » Fri May 22, 2009 3:41 am

TheRumpledOne wrote:

This is the reason why you must TRADE WHAT YOU SEE IS HAPPENING and NOT what you think SHOULD HAPPEN or is GOING TO HAPPEN.

[size=24]CAN YOU SEE WHY 95% OF TRADERS LOSE?


so true... yellow icon appeared at a lower spot than mediumvioletred (2nd icon) a few hours back. maybe it can extend to a higher level but I don't know, the price knows itself better.

Thanks for the reminder TRO!

jenks09
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Re: 2009.05.21 WHAT YOU DON'T KNOW...

Postby jenks09 » Sat May 23, 2009 5:30 am

Shinobi-X wrote:
TheRumpledOne wrote:[size=24]

so true... yellow icon appeared at a lower spot than mediumvioletred (2nd icon) a few hours back. maybe it can extend to a higher level but I don't know, the price knows itself better.



Shinobi, can you clarify what you mean. Thanks.

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