Forex Tradingwithrayner

[prudent76]

Confirmation Bias

Recent swing high / low on the Daily chart. (See Arrows)

Be careful when examining charts in this manner. You open yourself up to confirmation bias, especially with MA's on the chart . The first down arrow. Is that a consolidation or is it really a swing high? The MA's to some extent colour your perception of what is really happening. To increase your accuracy, you need a firm definition of what is a swing high and what is a swing low. However you wish to define swing high and low's, make sure you stick with it.

 

[Kissmequick]

I hope you have enjoyed this week’s market analysis. As always, comments are welcomed and encouraged. Cheers!

Rayner

Hi Rayner

I reckon the USD dollar trend is weakening after a long uptrend. Any comments from your side? Thanks

 

[jgyy1990]

Recent swing high / low on the Daily chart. (See Arrows)

That pair still going up

 

[blurinvestor]

Hi Rayner

I reckon the USD dollar trend is weakening after a long uptrend. Any comments from your side? Thanks

Rayner might have a better interpretation.

As for me USD might dip further but not much. May will be a good month to see the direction of the USD, which I bet it will remain hawkish.

EURUSD might touch 1.103xx, then again beware a hawkish FOMC tonite if you long this pair.

I believe in going with the major trend but I keep my ears on the econ news for double confirmation.

 

[prudent76]

Rayner might have a better interpretation.

As for me USD might dip further but not much. May will be a good month to see the direction of the USD, which I bet it will remain hawkish.

EURUSD might touch 1.103xx, then again beware a hawkish FOMC tonite if you long this pair.

I believe in going with the major trend but I keep my ears on the econ news for double confirmation.

I agree with your analysis. Rayner claims to be 100% Technical, by all counts the Technical readings all signal a Bear environment.

 

[tradingwithrayner]

Hello everyone!

Yes the long term rally of the dollar is showing signs of weakness after the break of support and upward trend line.

I'm neutral on the dollar right now. However one thing to note is that the dollar index is heavily skewed towards the Euro of about 57%

Rayner

 

[blurinvestor]

Does PA has memory?
GBPUSD - 11 straight years, including this April, GBP reigns in April. So see you next April.

 

[tradingwithrayner]

Here's a post talking about the weakness of the dollar by Adam Grimes, a trader i respect.

Rayner

 

[tradingwithrayner]

Does PA has memory?
GBPUSD - 11 straight years, including this April, GBP reigns in April. So see you next April.

That's interesting. If you're into seasonal you may want to check out the work by http://www.mrci.com/web/index.php

They do a lot of statistical research on seasonal.

Rayner

 

[blurinvestor]

That's interesting. If you're into seasonal you may want to check out the work by http://www.mrci.com/web/index.php

They do a lot of statistical research on seasonal.

Rayner

Not really into seasonal but amazed by the footprints.

1.06xx for me, thank you market.

 

[prudent76]

Does PA has memory?
GBPUSD - 11 straight years, including this April, GBP reigns in April. So see you next April.

Like Bingo game? lol

Got whacked by the GBP today but managed to walk away with +10 on this pair zzz Come to think about it, I got whacked on every pair i traded today lol

 

[die_sg]

With $4k today, earn $600 profit.
intraday trading on major pairs, spend 8hours.
If everyday can earn this good, no need go out work.

 

[blurinvestor]

EURUSA is at 1.126xx strong resistance. placed a short limit, SL checked, TP checked. And I'm off for a fishing trip if come back without fish I hope have some dollars from market to buy some fish from wet market to impress my family.

If no fish no dollars, how huh?

 

[prudent76]

With $4k today, earn $600 profit.
intraday trading on major pairs, spend 8hours.
If everyday can earn this good, no need go out work.

Sometimes after 8 hrs only earn -1.3 Pips lol
That was my grand total after yesterday's trading zzz

 

[die_sg]

EURUSA is at 1.126xx strong resistance. placed a short limit, SL checked, TP checked. And I'm off for a fishing trip if come back without fish I hope have some dollars from market to buy some fish from wet market to impress my family.

If no fish no dollars, how huh?

trade short? no worry as minimum s1 @ 1.1150, sure to make some cash

Sometimes after 8 hrs only earn -1.3 Pips lol
That was my grand total after yesterday's trading zzz

yesterday was the best day to trade long on major. dunno why u loss pips..

 

[CookieMonsta88]

EURUSA is at 1.126xx strong resistance. placed a short limit, SL checked, TP checked. And I'm off for a fishing trip if come back without fish I hope have some dollars from market to buy some fish from wet market to impress my family.

If no fish no dollars, how huh?

so whats the recommended sl and tp?

 

[die_sg]

so whats the recommended sl and tp?

BUY on EURUSD @ 1.12608 now, TP @1.13
by closing sure smiling.

 

[die_sg]

trade short? no worry as minimum s1 @ 1.1150, sure to make some cash



yesterday was the best day to trade long on major. dunno why u loss pips..

EURUSD: not shorting today, i also waiting to short but it went long. I trade on long, so far earns $200 on this pair alone.

 

[blurinvestor]

Pull my trigger too early, now got fish no dollars.

I still will short it. Nonetheless, a strong resistance is in 1.13xxx.
Call it a day and let market play out.

 

[Kissmequick]

I may be wrong, but caution on shorting Euro. I think the market is buying Euro against the crosses.

[/IMG]

Happy trading.