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PebbleTrader
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Postby PebbleTrader » Fri Feb 01, 2013 4:26 pm

When you are going for the big pips with big size, you don't want to have one of your currencies within the pair to be one of the ranging currencies.

You want both pairs to be MOVING in opposite directions.

So if you are long EUR you would also be short USD (EURUSD)

So if you are long EUR is it undervalued? and

if you are short USD is it overvalued?
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Postby trueblueTEX » Fri Feb 01, 2013 4:33 pm

PebbleTrader wrote:Image

Not familiar with this kind of chart.

Where does this come from?

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Postby PebbleTrader » Fri Feb 01, 2013 4:34 pm

Maxed out size, with maxed out space, with a large TF, on a currency pair that has the potential to really move = God Mode!
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Postby PebbleTrader » Fri Feb 01, 2013 4:40 pm

"Not familiar with this kind of chart. "

Currency Index - The currency index represents the evolution of a currency relative to the entire forex. The index is the average of one currency compared to others. The chart representation makes it easy to view trends by currency.

Instead of looking at pairs, it's showing you the individual currencies...
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Postby trueblueTEX » Fri Feb 01, 2013 4:41 pm

PebbleTrader wrote:Maxed out size, with maxed out space, with a large TF, on a currency pair that has the potential to really move = God Mode!


According to the legend, each plot is a single currency and not a pair. How is that done?

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Postby trueblueTEX » Fri Feb 01, 2013 4:43 pm

Here's e/j (overvalued/undervalued):


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Postby PebbleTrader » Fri Feb 01, 2013 4:43 pm

"According to the legend, each plot is a single currency and not a pair. How is that done?"

That's why it's so useful, you don't have to look at five EUR pairs to understand what the EUR is doing...it contains them
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Postby trueblueTEX » Fri Feb 01, 2013 4:44 pm

PebbleTrader wrote:"Not familiar with this kind of chart. "

Currency Index - The currency index represents the evolution of a currency relative to the entire forex. The index is the average of one currency compared to others. The chart representation makes it easy to view trends by currency.

Instead of looking at pairs, it's showing you the individual currencies...

Sorry, wrote my response/question while you were writing the answer!

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Postby PebbleTrader » Fri Feb 01, 2013 4:48 pm

"Here's e/j (overvalued/undervalued): "

And how many pips did it move from July of 2012 low extreme to current :)
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Postby PebbleTrader » Fri Feb 01, 2013 4:51 pm

It's just an additional tool to use with your pair charts, it has to make sense from BOTH the index and your pair charts...

If it doesn't look overvalued on your high timeframe pair chart than it's not overvalued yet...
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