Comments for ForexLive http://www.forexlive.com Tomorrow’s conventional wisdom today! Wed, 17 Mar 2010 20:41:18 -0400 http://wordpress.org/?v=2.8 hourly 1 Comment on GBP/USD extending slide; 1.5260/70 support by JR http://www.forexlive.com/94424/all/gbpusd-extending-slide-1-526070-support/comment-page-1#comment-39383 JR Wed, 17 Mar 2010 20:41:18 +0000 http://www.forexlive.com/?p=94424#comment-39383 Hey Annie, IMO, Bollinger Bands work well in range-bound markets because it shows you the moves that are two standard deviations above or below the mean. It doesn't work as well in markets that are in distinct up or down trends. So, whereas the S&P may be range-bound for 2010, for example, a market in a strong uptrend, like a biotech company that has just been approved to market a blockbuster drug, can go on a run and take those bands up with it- see hgsi for the past year. Hey Annie, IMO, Bollinger Bands work well in range-bound markets because it shows you the moves that are two standard deviations above or below the mean. It doesn’t work as well in markets that are in distinct up or down trends. So, whereas the S&P may be range-bound for 2010, for example, a market in a strong uptrend, like a biotech company that has just been approved to market a blockbuster drug, can go on a run and take those bands up with it- see hgsi for the past year.

]]> Comment on GBP/USD extending slide; 1.5260/70 support by Annie http://www.forexlive.com/94424/all/gbpusd-extending-slide-1-526070-support/comment-page-1#comment-39382 Annie Wed, 17 Mar 2010 20:31:37 +0000 http://www.forexlive.com/?p=94424#comment-39382 Does anybody use Bollinger Bands? I've been having pretty good luck with them or is that it it's just luck? 64% on my good trades I just need to cut the losers sooner. Does anybody use Bollinger Bands? I’ve been having pretty good luck with them or is that it it’s just luck? 64% on my good trades I just need to cut the losers sooner.

]]> Comment on GBP/USD extending slide; 1.5260/70 support by JR http://www.forexlive.com/94424/all/gbpusd-extending-slide-1-526070-support/comment-page-1#comment-39381 JR Wed, 17 Mar 2010 20:21:02 +0000 http://www.forexlive.com/?p=94424#comment-39381 Elliott Wave is pop psychology and about as useful and predictive as Marx's paradigm. Prechter is always calling a top, and he's usually wrong. At least fibo and classic TA are simple enough so that they are used. But the five wave theory is coincidentally interesting as it applies to the euro, which has just had the first (Greek) wave and has four more piglets to go. I do hope we save the best for last and that it ends with Berlusconi's Italy... Elliott Wave is pop psychology and about as useful and predictive as Marx’s paradigm. Prechter is always calling a top, and he’s usually wrong. At least fibo and classic TA are simple enough so that they are used. But the five wave theory is coincidentally interesting as it applies to the euro, which has just had the first (Greek) wave and has four more piglets to go. I do hope we save the best for last and that it ends with Berlusconi’s Italy…

]]> Comment on I spy a potential double top in EUR/JPY by lilac http://www.forexlive.com/94462/all/i-spy-a-potential-double-top-in-eurjpy/comment-page-1#comment-39380 lilac Wed, 17 Mar 2010 20:17:08 +0000 http://www.forexlive.com/?p=94462#comment-39380 Lerve the chart overhaul - thanks Jamie. Fwiw it has stalled twice so far at the 61.8 fibbie retrace of this week's 123.20 to 125 rallyette. Lerve the chart overhaul – thanks Jamie.
Fwiw it has stalled twice so far at the 61.8 fibbie retrace of this week’s 123.20 to 125 rallyette.

]]> Comment on Greek PM: We prefer European solution to Greek problems by FxZ http://www.forexlive.com/94451/all/greek-pm-we-prefer-european-solution-to-greek-problems/comment-page-1#comment-39379 FxZ Wed, 17 Mar 2010 20:06:15 +0000 http://www.forexlive.com/?p=94451#comment-39379 we prefer greek solutions... we prefer greek solutions…

]]> Comment on Greek PM: We prefer European solution to Greek problems by Solange http://www.forexlive.com/94451/all/greek-pm-we-prefer-european-solution-to-greek-problems/comment-page-1#comment-39376 Solange Wed, 17 Mar 2010 19:48:09 +0000 http://www.forexlive.com/?p=94451#comment-39376 Gerry/Jamie, the EUR/USD is nearing the point that I believe (about 4 hours ago) the BIS was buying the pair. See any signs that the BIS is still lurking around EUR/USD 1.3720/30? Gerry/Jamie, the EUR/USD is nearing the point that I believe (about 4 hours ago) the BIS was buying the pair. See any signs that the BIS is still lurking around EUR/USD 1.3720/30?

]]> Comment on GBP/USD extending slide; 1.5260/70 support by Bill http://www.forexlive.com/94424/all/gbpusd-extending-slide-1-526070-support/comment-page-1#comment-39375 Bill Wed, 17 Mar 2010 19:45:58 +0000 http://www.forexlive.com/?p=94424#comment-39375 I've looked at EW, but the fact that asking 5 EW folk the count results in 6 answers is a bit troubling. There is the New EW Rule that Hennessey is giving away, eliminating extensions, etc., but so far just looking at PA, fibos, trendlines and Bollinger Bands seems to work (with less work) for me. :-) I’ve looked at EW, but the fact that asking 5 EW folk the count results in 6 answers is a bit troubling. There is the New EW Rule that Hennessey is giving away, eliminating extensions, etc., but so far just looking at PA, fibos, trendlines and Bollinger Bands seems to work (with less work) for me. :-)

]]> Comment on I spy a potential double top in EUR/JPY by Trading Nymph http://www.forexlive.com/94462/all/i-spy-a-potential-double-top-in-eurjpy/comment-page-1#comment-39374 Trading Nymph Wed, 17 Mar 2010 19:43:26 +0000 http://www.forexlive.com/?p=94462#comment-39374 Jamie, Do traders use this pair as a tell for export/import action? Jamie, Do traders use this pair as a tell for export/import action?

]]> Comment on AUD/USD consolidating gains after rally reaches 0.9251 by Solange http://www.forexlive.com/94456/all/audusd-consolidating-gains-after-rally-reaches-0-9251/comment-page-1#comment-39373 Solange Wed, 17 Mar 2010 19:26:38 +0000 http://www.forexlive.com/?p=94456#comment-39373 Jamie - at the present moment, the GBP/CAD looks determined to leave its 2-day upward channel (the 60-minute MACD has already crossed its signal line, but the 2-hour has not). Should this delightful shorting event occur, it appears that there is really nothing in the way until the 55-period EMA (currently at 1.54266); the pair is at 1.54657, right now. Jamie – at the present moment, the GBP/CAD looks determined to leave its 2-day upward channel (the 60-minute MACD has already crossed its signal line, but the 2-hour has not). Should this delightful shorting event occur, it appears that there is really nothing in the way until the 55-period EMA (currently at 1.54266); the pair is at 1.54657, right now.

]]> Comment on Greece: Failure to decide of debt support will be crucial for the euro’s future by JR http://www.forexlive.com/94441/all/greece-failure-to-decide-of-dent-support-will-be-crucial-for-the-euros-future/comment-page-1#comment-39372 JR Wed, 17 Mar 2010 19:22:35 +0000 http://www.forexlive.com/?p=94441#comment-39372 Listening to the European politicians one would believe that George and Laura Bush were Adam and Eve and that the global financial crisis was the world's original financial sin. I can't shake the image of Papandreou being interviewed by Charlie Rose, he came across as so solid, so trustworthy. He's a good front man, that's for sure. But, hey, if you think that politics and business is as corrupt in America as it is in Europe and Russia, well, everyone is entitled to their opinion- that's what makes a market. Listening to the European politicians one would believe that George and Laura Bush were Adam and Eve and that the global financial crisis was the world’s original financial sin. I can’t shake the image of Papandreou being interviewed by Charlie Rose, he came across as so solid, so trustworthy. He’s a good front man, that’s for sure. But, hey, if you think that politics and business is as corrupt in America as it is in Europe and Russia, well, everyone is entitled to their opinion- that’s what makes a market.

]]> Comment on AUD/USD consolidating gains after rally reaches 0.9251 by Solange http://www.forexlive.com/94456/all/audusd-consolidating-gains-after-rally-reaches-0-9251/comment-page-1#comment-39371 Solange Wed, 17 Mar 2010 19:19:38 +0000 http://www.forexlive.com/?p=94456#comment-39371 Jamie - for the first time in over 12 hours, the AUD/USD is about to hit the 15-minute, 55-period EMA, so if anyone believes that the "only way for the AUD to go - when Sydney opens for business - is up", now comes the moment to buy (and ride off into the fiery glory of those January 2010 and November 2009 charting highs that lurk on the antipodean .9300 horizon). Jamie – for the first time in over 12 hours, the AUD/USD is about to hit the 15-minute, 55-period EMA, so if anyone believes that the “only way for the AUD to go – when Sydney opens for business – is up”, now comes the moment to buy (and ride off into the fiery glory of those January 2010 and November 2009 charting highs that lurk on the antipodean .9300 horizon).

]]> Comment on Greek PM: We prefer European solution to Greek problems by lilac http://www.forexlive.com/94451/all/greek-pm-we-prefer-european-solution-to-greek-problems/comment-page-1#comment-39367 lilac Wed, 17 Mar 2010 19:05:05 +0000 http://www.forexlive.com/?p=94451#comment-39367 Onwards and upwards http://www.telegraph.co.uk/news/worldnews/europe/latvia/7466920/Latvia-government-collapses-amid-economic-crisis.html Onwards and upwards

http://www.telegraph.co.uk/news/worldnews/europe/latvia/7466920/Latvia-government-collapses-amid-economic-crisis.html

]]> Comment on Was it something I said? by John http://www.forexlive.com/94446/all/was-it-something-i-said/comment-page-1#comment-39366 John Wed, 17 Mar 2010 19:03:31 +0000 http://www.forexlive.com/?p=94446#comment-39366 You guys should think about an app for the i phone for forexlive. Maybe "forexlivemobile"? You guys should think about an app for the i phone for forexlive. Maybe “forexlivemobile”?

]]> Comment on GBP/USD extending slide; 1.5260/70 support by Emilio http://www.forexlive.com/94424/all/gbpusd-extending-slide-1-526070-support/comment-page-1#comment-39364 Emilio Wed, 17 Mar 2010 18:56:09 +0000 http://www.forexlive.com/?p=94424#comment-39364 :) Bear, I am so sorry to hear you are unable to understand neither EW nor women... only joking, pls dont take it seriously! Im not fanatic about the principle but I do take it into account when trading and I am happy about it as it DOES work for me. If fits well with channeling and fibo ratios. :) Bear, I am so sorry to hear you are unable to understand neither EW nor women… only joking, pls dont take it seriously! Im not fanatic about the principle but I do take it into account when trading and I am happy about it as it DOES work for me. If fits well with channeling and fibo ratios.

]]> Comment on Broad USD weakness suggests seller of DXY by lilac http://www.forexlive.com/94437/all/broad-usd-weakness-suggests-seller-of-dxy/comment-page-1#comment-39363 lilac Wed, 17 Mar 2010 18:49:27 +0000 http://www.forexlive.com/?p=94437#comment-39363 Well after the number one cut you could paint your head green too just for good measure ;) Well after the number one cut you could paint your head green too just for good measure ;)

]]> Comment on GBP/USD extending slide; 1.5260/70 support by Bear http://www.forexlive.com/94424/all/gbpusd-extending-slide-1-526070-support/comment-page-1#comment-39361 Bear Wed, 17 Mar 2010 18:47:15 +0000 http://www.forexlive.com/?p=94424#comment-39361 Anyone that has ever sat in a room with a couple of so-called EW experts will know that EW was thought up by a woman....doesnt matter how good you are at it.. ur never right. Anyone that has ever sat in a room with a couple of so-called EW experts will know that EW was thought up by a woman….doesnt matter how good you are at it.. ur never right.

]]> Comment on Broad USD weakness suggests seller of DXY by Zeke http://www.forexlive.com/94437/all/broad-usd-weakness-suggests-seller-of-dxy/comment-page-1#comment-39360 Zeke Wed, 17 Mar 2010 18:44:54 +0000 http://www.forexlive.com/?p=94437#comment-39360 I'm not touching a thing right now Lilac, for all I know the quoteboards are green just for good ol' St. Pat ;) I’m not touching a thing right now Lilac, for all I know the quoteboards are green just for good ol’ St. Pat ;)

]]> Comment on GBP/USD extending slide; 1.5260/70 support by lilac http://www.forexlive.com/94424/all/gbpusd-extending-slide-1-526070-support/comment-page-1#comment-39359 lilac Wed, 17 Mar 2010 18:43:23 +0000 http://www.forexlive.com/?p=94424#comment-39359 I'm sure you're right, Sir Alex. I’m sure you’re right, Sir Alex.

]]> Comment on GBP/USD extending slide; 1.5260/70 support by Solange http://www.forexlive.com/94424/all/gbpusd-extending-slide-1-526070-support/comment-page-1#comment-39357 Solange Wed, 17 Mar 2010 18:39:57 +0000 http://www.forexlive.com/?p=94424#comment-39357 Emilio - you appear to be an Elliott Wave specialist. Please tell me if the 2-day, 30-minute chart of the current AUD/USD is not (also) a concluded 5-wave up-movement (the top of which was just made at .92505) and we are now entering what is probably an A-B-C correction mode of existence (until Sydney wakes up and buys everything back that North America just sold, of course). Emilio – you appear to be an Elliott Wave specialist. Please tell me if the 2-day, 30-minute chart of the current AUD/USD is not (also) a concluded 5-wave up-movement (the top of which was just made at .92505) and we are now entering what is probably an A-B-C correction mode of existence (until Sydney wakes up and buys everything back that North America just sold, of course).

]]> Comment on GBP/USD extending slide; 1.5260/70 support by Emilio http://www.forexlive.com/94424/all/gbpusd-extending-slide-1-526070-support/comment-page-1#comment-39356 Emilio Wed, 17 Mar 2010 18:39:12 +0000 http://www.forexlive.com/?p=94424#comment-39356 What a bizarre scene. :) What a bizarre scene. :)

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