If everyone just drove between these lines we would all be rich...make that wealthy. Sounds better. More appropriate for us currency traders. Somebody figure out if this is one of those Gartley Butterfly things.
I find it interesting that I never look at these indicators/studies to base position entries on.......The only time I really dive into them is after I am in a position and feel uneasy and attempt to justify through what the herd looks at. After all how can you be short the EURUSD right now? Sometimes I hate my intuition, my gut, my constant watching of the order flow on the CME. I know everyone is postioned for the obvious up move. Those dang Central Banks selling to protect option barriers at 1.30. Or were they protecting option barriers? They are not traders anyway so trying to deduce any information from this is worthless. If the US wants a weak dollar, than damn it,the rest of the world will buy dollars just so Bush will be wrong and not benefit at all. I better get to work on my exit strategy to make sure it is sound. I have to admit I like playing with all this stuff. I have been showing my son how they relate to the DaVinci Code mania.
Found this one too. Is it a bunch of rubbish? Who is this Dan Brown guy anyway? Is he a trader? Signed Mary M.
I am starting to get goosebumps. I typed the message above before I saw your post. We both used the same word. "Rubbish". I have not used that word since college. We had a guy on our soccer (futbol) team who used it all the time.
I would have thought you were responding to my post otherwise. :eek: Quick, someone short the dollar!