Fx BBQ: Dollar Gold & Euro @August,2011

Tuesday, August 09, 2011

Dollar Gold & Euro @August,2011

Euro painting an "Quantitative Easy Slide" monthly picture..
Yearly ATR suggests 1.32 may be an Easy Slide target in Q4.. weekly under 1.42 may be good-bye with good M/T odds for 1.18 before 1.58..
Euro @1.4380

Gold & Silver aren't moving in tandem.. with Gold flashing a potential L/T blow-off exhaustion gap @1680, failure to sustain 1700 with new highs could set off a mid-term correction for the yellow metal with Dollar/Swiss & Dollar/Yen being the main beneficiaries..

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Trading is not an exact science contrary to the popular belief of most new or inexperience traders.. In trading, we must allow for some margin of errors within our defined risk & trading time frame.. allowing for this margin of error under the constraint of trading in micro time frames with stops & profit targets all inside a small fluctuating market noise band in hope of achieving consistent profits over time is very difficult, if not impossible.. as whenever we are right, we are only small right within the confine of the small P/L band which limit our odds to playing for break even at best over time.. Trading longer time frames allows for a wider margin of error but at the expenses of increased risk.. however, the odds of being right & achieving consistent profits over time are enhanced when good market analytics & trade management strategies are applied under the proper market bias.. When we are right, we need to ensure that we are bigger right over an expanded profit band inorder to compensate for those times when we are wrong..

Fx BBQ

Tuesday, August 09, 2011

Dollar Gold & Euro @August,2011

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