General Chit-Chat

[slam]

hi miner
good to see you with the tea leafs out again
yes, on this forum now[:I]
can't resist

have a good one
Cheers
Slam

[miner]

Hi Slam you sound like your doing ok[8D],choice,lots more tea leafs where those came from hehe[:0],you know me, FX messy at the mo tho so just watching,times for FX,as in when to watch for entry is something you could be looking at also.

"yes, on this forum now",less to watch and allways trades ay mate[8D].

Cheers
Miner

[Xerof]

Dazza,


turn your chart upside down

There is plenty of info out there which can explain it far better than trying to do it on this thread - scan through the threads and you'll find plenty of tips/referrals to sites and books on the subject

cheers mate

Xerof

[slam]

miner
halled up some charts on what you were saying
nice little tool
cheers
slam

[miner]

Slam Re above,not a good example but look at 5 min on those 3 on last hourly,both EUR and CHF moved before JPY.

Cheers
Miner

[slam]

spotted that

[miner]

And now JPY looks the best on 5 min so may lead the way?,or I just cursed it hehe,it's one way of getting on a move before it goes tho,only seconds in it sometimes tho.

Cheers
Miner

[miner]

Slam NOT a good example but jpy went south eur north same time and chf just sat there(lots of time to jump on) then it followed eur,5 min charts.

Cheers
Miner

[Xerof]

Miner,

Yes the correlations are usually quite strong on those currencies, but if I may offer a tip - always keep an eye on the chart for EUR/JPY to see if there's anything there to indicate major moves.

The fact is this cross is the most heavily traded pair on a global basis, if I remember correctly, by quite a significant margin too, and the reality is that moves in EUR/USD and USD/JPY are more often than not mere puppets dancing to the EUR/JPY tune.

Good example as recently as last night, EUR/USD around 1.2630/40 area basically all of NY, but USD/JPY fell 70 odd pips, and surprise surprise, it was EUR/JPY selling, with incidentally, all the pressure felt by the USD/JPY. Ordinarily, with a big sell on USD/JPY, the EUR/USD would be going up?......not last night because of the offering interest in EUR/JPY

Obviously EUR stayed bid for other reasons, probably the poor TIC data, which adds another complication - if you saw USD/JPY being hammered, you'd think EUR/USD should go up yeah? Well last night it stayed pretty flat, even slightly lower, so not always an obvious signal, and you can be fairly certain it did that because the weak link last night was the USD, and the game on at the time was EUR/JPY.

Hope this doesn't put you off mate, just trying to point out that it often ain't as easy as it looks.

The other glaring example yesterday was EUR/GBP, GBP getting slaughtered, while EUR remained very stable, but the EUR/GBP cross was where all the activity came from, and you would have no joy trying to sell EUR/USD - it remained 1.2590/1.2640 while GBP traded down 250 pips

Sori I'm prattling on now - leave it at that

cheers

Xerof

[slam]

Just did it then, USA/JPY- then EUR/USD- then USA/CHF+