Comments on: Forex Signals – EUR/USD Continues to Push Upward

By: piphut

piphut — Thu, 17 Sep 2009 02:17:30 +0000

If I knew when the uptrend would end I’d be living on my own private island right now, sipping cocktails :). Kidding aside I think it will last as long as risk appetite is in the market, and I think that will last as long as positive news keeps coming out of the US economy. Eventually though the paper printing of the US Fed has to end, unemployment will still be high and I think we will see risk aversion re-enter the market and the dollar will recover some.

By: melakafx

melakafx — Thu, 17 Sep 2009 00:05:10 +0000

hi Mark! I’m a bit curious how long will this uptrend last.It looks like the EUR are well overbought. Plus theres some good news from Obama that brought forward some attention from the investors regarding the US economy. How this will effect the greenback from your technical overview?

By: piphut

piphut — Wed, 16 Sep 2009 15:22:04 +0000

Got it. It might be a few days or possibly even early next week (I’m traveling this weekend) before I can really dive into and code a expert advisor for it to backtest it but I will let you know.

By: Nnagozie

Nnagozie — Wed, 16 Sep 2009 15:19:01 +0000

I have sent it

By: Ash

Ash — Wed, 16 Sep 2009 15:10:11 +0000

Damn. I waited ALL day long only for it to go up. Theres only two days left to trade and I have to wait until Monday to start trading again.

I also find that the market moves alot when Im bed sleeping….

By: piphut

piphut — Wed, 16 Sep 2009 15:05:50 +0000

If I were you I would put a pending order in a DEMO account and see how it does. I personally don’t like trading while I’m asleep but that is just my style :).

By: piphut

piphut — Wed, 16 Sep 2009 15:01:30 +0000

The closest I have to a “detailed manual” are the “Learn Forex” links I have on the left of your screen, in particular the Learn Support and Resistance lesson as support and resistance are the key ingredients. If it is something you can email send that indicator to admin@piphut.com and I’ll take a look at it and give you my feedback. I can even code an EA (expert advisor) for it and backtest it over the past 10 years and let you know how it performs.

By: Ash

Ash — Wed, 16 Sep 2009 15:00:24 +0000

Hey Mark. Do you think is it STILL gonna head down to 1.4620? It’s 12:00 at night here and I have to get sleepin’ but it’s jumped away up. Shall I set a pending order or just leave it for today?

By: Nnagozie

Nnagozie — Wed, 16 Sep 2009 14:54:54 +0000

Thanks for your advice it has been improving my trading and confidence, but I use a custom indicator which has the RSI, Stoch and CCI all in one window for different time frames. You can edit its properties and no need for scanning through the whole time frames. It gives you all you want in one window. It only gives two signals BUY or SELL for the above indicators. In the morning(4-5 AM gmt) before you release your signals I do check the indicator and it rhymes with what you have on your signals. Do you have a detailed manual about your analysis without using all those indicators?

By: piphut

piphut — Wed, 16 Sep 2009 14:18:13 +0000

These days I try to use as few as possible! I’ve used a lot over the years, most notably I heavily used RSI and Slow Stochastics for a long time. I found that for me, personally, they always ended up hurting me more than helping me. They confused my root analysis, provided too many false signals and in the end did my harm than good. The only one I still occasionally use is the ATR in placing stops. That is not to say that indicators are bad for all people/trading strategies. But for me they don’t fit my trading personality. I might take it a step further and say a lot of people fall in love with the idea of indicators because they believe it will tell them exactly when to enter, when to exit and trading will be easy. And indicators will never do all that for you.