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Its the standard deviation of a moving average. So a high spike means that the standard deviation is either much higher than the moving average or much lower. If that makes sense. It is a similar concept to the bollingers, but somewhat different.
yes, you are correct.
4.49 nice. -5.3% below expectations. Bernanke time....
I am gambling with profit, so in reality, there's no risk for me. I don't mind risking profits, I just don't want to cut into the initial amount.
I added in trailing stops. Its money time....or lack there of!
Looks like usd/jpy longs are going to liquidate before the 10am announcement and speech. Keep it comin!
I use Stdev quite a bit. It is very useful. Also note that the RSI is well into overbought levels. Thanks for the chart at it supports my shorts as well.
The dow is supporting my shorts...but its just not playing out! Interesting markets these days.
The only thing that worries me is that Bernanke(however its spelled) was very positive yesterday. Now he is scheduled to talk at 10...this could be devastating for my shorts. His words yesterday resulted in the Dow rally...We'll see I guess I have no choice but to await the numbers and hear Bernanke out.
I sure as heck don't wan't to be holding this at 10a.m. but it looks like i'm going to have to take the risk. I hate to hope for bad numbers, but at this point....
I think the issue now is that eur/usd is falling but not eur/jpy. If eur/jpy starts tracking eur/usd, then usd/jpy must fall.
Looks like the bear flag was negated. Hopefully the weak futures lead to a weak open on the DOW. that should give me some hope I guess.
I use that site for oil as well!
Good! I'm glad to hear that, cause in my opinion, that's what the public needs right now.
Also looks like a potential head and shoulders in the making while looking at the 1hr. As long as the current rally doesn't go much further, things should be all well. If not, i'll take a big hit....again....for the third time...lol
Yes, that's what i'm watching. Usually in the case of a bear flag, there is an attempted rally at the end in which results in a failure at resistance above. Hopefully, this just happened!
Certainly. Thank you. I hope to be out of these positions before then. :-/ We'll see though, just broke up on me a bit.
I missed Obama's speech last night, was he gloom and doom or did he offer a ray of hope?
Also of note, there are option expiry's today with strikes at 96.40. This SHOULD weigh on the market a bit as the option holders close out in profit.
Futures are breaking back down after a quick recovery. Currently sitting at -16.00. Should support my shorts...i hope anyway.
80-90 pips on 5 standards would be NICE! Of course, so would 10 pips. lol
You should start a trading journal over at TFXH...you can find the link in my profile.
I'm playing the usd/jpy failure at around 97.00 this morning. Pretty big order I have in, so I hope for only about 20-30 pips or so, but would like to see 100 pips or better.
Good morning. Ready to get some pips here! How about you?
Futures: Dow Jones -46.00 7258.00 2/25 7:12am
Could weigh on cross/jpy. I think AIG is the culprit
nice short! should've stuck with that one!
just added a short usd/jpy because of the 97.00 failure this morning
looking for 93's stop is at 97.75
Fortunately, and nearly god-like, I have recovered 100% and then some. Crazy markets are good for crazy people.
My bags turned into gold.
added a couple of short usd/chf at around current levels
Read: "USD/JPY: JPY Misdirection Trade" on Oanda's news ticker. It an interesting and informative.
I think that the massive usd/jpy double bottom is playing out well. I made a comment on the daily chart a while back...can be found here:
http://www.thefxhub.com/forums/thefxhub-commentary/5133-usd-jpy-analysis-double-bottom.html
Given that, buying on good dips seems to be the way to work usd/jpy until things change. This goes for all cross/jpy in my opinion. I just wish I would have bought and held a dip shortly after I made the comments in the above mentioned post. Would've been some NICE pips. When I made the post, it was at about 92.00 or so.
That's interesting as people often say not to trade Sundays. I have always done quite well on Sunday's myself.
good job. Looks like a nice trade.
Dow Futures: Dow Jones +49.00 7165.00 2/24 7:24am
I quit trading usd/cad...its a loser for me as well. Looks like eur/usd is playing well for you. Did you enter earlier or recently?
That's what I prefer...however, when I get bored I start scalping away and usually do pretty well at it. lol. I like the 100-300 pip moves, which usually come in 1-3 days. It's nice to enter a position and not have to stare at the computer praying for an exit point.
Another thing to note is that price action is sitting on the 1 hr 50SMA RIGHT NOW which may support it. Do you scalp or look for longer term?
Worn,
I have a question for you about Ichi, Why are the shift periods so different, and which one is correct? These are with the same settings. It looks like MT4 provides the correct view based on price action. The calculations are the same, but the shift is off on Oanda I believe. With oanda, one would have to look forward and eyeball the cloud. Any idea why this is? If there's no image below, it can be found in this posts as well:
http://www.thefxhub.com/forums/experienced-forex-traders/549-aud-jpy-thefxhubs-favorite.html#post7777
The hourly ichimoku chart of eur/usd supports your short down to about 1.2780 or so. I'm going to enter a long aud/jpy around about 60.75 or so.