About two weeks ago my wife told me that her girlfriend — who married a Kiwi and now lives in Brisbane – told her that her and her husband (I call him The Saint which would make sense to you 10-minutes after you met his wife) were going to retire and live on thier real estate income. Now I know [...] [...more]
Daily Forex Report for 3/23/10 Click here to view Jay’s Daily Forex Report for 3/23 where he covers 13 live markets and talks about the current market environment. http://www.forextv.com/Forex/Video/Video.php?bcpid=72130734001&bclid=72066595001&bctid=73427791001 Teresa Bell www.trading-u.com DISCLAIMER: Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. Risks include [...] [...more]
With traders anticipating resistance at the approximate .625 level of the ’08 bear move it became self fulfilling that EURUSD would first reach, and then pause at that level. See: http://trading-u.com/blog/index.php/archives/774 The question now is will it retreat and test the 50% level at approx 141.75 which is also the current 2-week low set on 9/1. The ATR, or Average [...] [...more]
With the top of “the pipe” just above at 146.32, we’ll have to see if we are in for counter-trending price action and — today aside — a continuation toward smaller ranges, or a breakout toward 150.00. Given so many of the markets recent records regarding failed break-outs, it seems more likely that we see a continuation of [...] [...more]
A steadily falling ATR — Average True Range — is telling us that the price range for EURUSD, and all the other tradeable currency pairs, is shrinking. With price very close to the 50% retracement of the 2008 sell-off accompanied by shrinking volatility which the ATR reflects, I’m reminded of W.D. Gann’s theory that price will spend a high percentage [...] [...more]
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