US session moves
After the gap time dip the pull back was not strong during US session start time.also before the gap time slide GBP made a brief upward stop hunt above recent high and came down to handle euro/gbp.This sort of isolated moves normally lead to holding and slow slide pattern during the session.
there is a chance for tomorrow during japanese session lower gap opening and further slide .
There is always a concept of potency in the market which may be derived from the chart reading,but the market moves based on practical conditions.When the shorts are predominatly covered and traders freely take long positions every one may look for some one to buy from them at higher levels.Those holding long decide to exit first may become smart in the process.market is known for rewarding such smartness from time to time.So both the greed and panic may lag the decision making.hence emotional control is also considered as an additional component of trading and decision making besides equity.
Regards
Dr.sivaraman
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Comment by Joao Pedro Cameira Gomes on July 26, 2011 at 3:07pm -
Dear Dr. Sivaraman:
I have been following you for years now. Never asked questions before, as I feared I did not have not enough knowledge. In the meantime,I have lost 2008 more than Euros 100,000 on forex. I believe I am much wiser now, and LEARNING/ABSORVING much more. Greed and Panic are terrible! I know that. Now.
Could EUR/USD reach 1,4580-1,46 before going down somewhat?
Warm regards,
Pedro
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Comment by Dr. Sivaraman on July 26, 2011 at 3:55pm -
Dear pedro
I am extrmely sorry to hear that.Over trading might be the reason besides emotions.Please take a t atime only 1% of your equity a position as you make trading decision.Use 30 pips stop or hedging order to limit and also decide the exit while taking the position .Once the position makes profit keep stop at entry and remove the hedging order.These procedures are very important to eleminate the risk in trading.
Regardsing Euro Volatile moves may prevail during month end and new month beginning time.Euro may rise more during next month.
regardsdr.sivaraman
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Comment by prince NG on July 26, 2011 at 4:10pm
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Dr,if EU is expected to rise ,is there still any chance of GU coming anything close to 1.6000 before next month's rise in EU as GU tend to rise along EU?
Thanks for your responses
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Comment by Joao Pedro Cameira Gomes on July 26, 2011 at 4:37pm
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Dear Dr. Sivaraman:
Thank you for your reply. I am doing those things now, thanks to your advices, which are constant. Furthermore, I have also learned from you the intricacies of traders versus players: this is a constant endless game, where of course small traders have much more to loose than the (huge) players.
Thank you for your comment on EUR/USD.
Warm regards
Pedro
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Comment by Dr. Sivaraman on July 26, 2011 at 5:03pm
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dear prince
the forecast derivation is expecting some unassuming drop in EURO and GBP and at the moment it appears impossible.So we may have to wait during this week and next week to check whether such event can happen or not.Only when there is drop there could be good bounce back - orlese the market is known to make range bound sideway moves if not volatile.
Regards
Dr.Sivaraman
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Comment by BA on July 27, 2011 at 6:46am -
Forex is a great market in which to learn about trading but I find it too much effort and too hard to win- I like other markets more these days- I can't gamble too much on Forex!
Comment
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