[Sledge]

Andre-
Thanks for the clarification! Actually I meant at the 95.15 neighborhood.
In essence you are no where near the neighborhood- so it is safely away from treading there any time soon. Gotcha!
Aaron

[GammaJammer]

Originally Posted by cowpip »

G'day, GammaJammer. I'm sure there's a good mix of both with some folks weighting technicals more than fundamentals and visa-versa.

Personally, I keep one eye on the fundamentals and the other eye on the technicals. They go hand-in-hand (or should). Market sentiment is emotion-based, and that requires a good handle on the fundamentals to play properly. Anyone who ignores the technicals and fundamentals (both) is (imho), driving without stereo vision. You can still drive - but it's a lot harder to tell the distance to the next car with one eye shut.

Absolutely, reason I asked today of all days is that imho it's been an interesting mix of factors driving price action today, and someone with just a focus on one out of the three core pillars (fundamentals, technicals and context) would possibly have been a star on one trade, and totally baffled and stopped out next time.

GJ

[milliard]

Originally Posted by Sledge »

Thanks for the clarification! Actually I meant at the 95.15 neighborhood.

There are a couple pit stops ahead of the March 17 low of 95.15 where you'd definitely want to place a marker, but yeah - those area's wouldn't require attention until the initial 102.50 supports got pressured.

[Jocelyn]

Originally Posted by GammaJammer »

Absolutely, reason I asked today of all days is that imho it's been an interesting mix of factors driving price action today,

You referring to the mish mash of ping pong oil prices/Eurozone inflationary fears/Asian CB activity Gamma? The rumor mill also tends to work overtime when there's a good helping of fundy meat on the menu.

Don't you find that quite often it can be a buddy to the price action, particularly if the fundies or chatter is swirling around a key level or zone? Other times it merely serves to pull the rug from under what was a decent (technical) entry or compound stake, only to re-assert itself after all the fun & games has blown itself out.

GBPJPY & GBPCHF were certainly 2 prime horses to be on into early European trade if you had a positive view of Sterling. The Asian CB sales were definitely weighing heavy on Cable (& Euro) again this morning.

[torero]

Seems EURJPY has been a deadbeat lately, always have to keep an eye on other pairs to play. I've been holding back from trading due to inaction from these. Finally, GBPCHF gave me something to trade with. Obviously I've missed the cable and $ is getting volatile again.

[GammaJammer]

I think that's kinda what a lot of people find tough - the market can be v fickle when it comes to what is actually being concentrated on - at some times it's rate differentials, other times it's data, other times it's risk appetite / aversion etc etc. And unless you're sitting at a big shop it's hard to get enough of a scent of what's driving things imho.

But I still would be extremely uncomfortable trading without an idea of what's really happening. Technical analyis alone is nowhere near enough of an explanation for me, and imho, without some idea of what's really going on, you're gambling, not trading. Which is fine if you embrace that, but it's not for me.


(now cue GJ being shot down in flames .......)

[milliard]

Originally Posted by GammaJammer »

(now cue GJ being shot down in flames .......)

I think you'll find the flames on here resemble the power of a $2 cigarette lighter than the ferocity of the industrial flame thrower more common on other forum playgrounds.

Besides, you make some very valid points. I doubt folks could really pick too many holes in those views.

[wasp]

Originally Posted by torero »

Seems EURJPY has been a deadbeat lately, always have to keep an eye on other pairs to play. I've been holding back from trading due to inaction from these. Finally, GBPCHF gave me something to trade with. Obviously I've missed the cable and $ is getting volatile again.

Yep! I tend to only trade Yens these days and EURJPY has been killing me on the smaller TF's lately. Easily solved by stepping a TF or 2 and running the trades a bit longer. Whilst I would love to trade every pair going, I feel I know the yens better and whilst they may not move that differently to others, they are a different ballgame to say NOK or SEK IMO.

Originally Posted by GammaJammer »

I think that's kinda what a lot of people find tough - the market can be v fickle when it comes to what is actually being concentrated on - at some times it's rate differentials, other times it's data, other times it's risk appetite / aversion etc etc. And unless you're sitting at a big shop it's hard to get enough of a scent of what's driving things imho.

But I still would be extremely uncomfortable trading without an idea of what's really happening. Technical analyis alone is nowhere near enough of an explanation for me, and imho, without some idea of what's really going on, you're gambling, not trading. Which is fine if you embrace that, but it's not for me.

(now cue GJ being shot down in flames .......)

Where is my lighter and that can of hairspray?! As I said above, I don't think you need to have all the other aspects you have available down the bank, TA alone will always do the job and whilst I'm not saying what else you look/hear isn't important, I just wouldn't say its vital to switch from being a gambler to a trader . Markets are fickle but as long as you can adapt with them (ie change TF etc) the problem is removed and happy days. IMO.