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Day Trading Currency Futures W/Multiple time frames

  #62 (permalink)

Market Wizard
Birmingham UK
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: TST/Rithmic
Favorite Futures: YM/Gold
 
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David_R View Post
I took a look at some longer term charts of the Euro, Aussie and the Pound. To me, it looks as though they are setting up for a large more down. My assumptions is that they would all move the same direction against the dollar, but the charts do not all look the same. There is a Daily and a weekly of each. I am curious what others think. This is purely technical. I don't consider any funnymentals.

Strictly for curiosity here's my long term EURUSD charts, there is basically a valid long setup on the monthly and nested short and long setups on the daily, latter being reason for the whipsaw stuckery of late. Concur regarding funnymentals or news as the setups are usually 9/10 already in place before the jumping around occurs.

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L/t targets either 1.25 and 1.14 or 1.33 and 1.41 depending on chosen poison.

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Each of A, B and C has its own personality and trending style as you say and all tend to respond to D as Mr Big.

Hard to know what is predicated for inflation/deflation/stagflation regardless of what setups hold or are busted as all the proponents themselves are already holding busted flushes.

Biggest differential I see is the US change in energy reserve status, is it enough to cover up that Minsky feeling again I doubt it. Hard to see how a blow up is avoidable but at what paper levels I have no idea, I suspect the credit destruction to come is still monumental but the apparent start of a new 60yr cycle in 2009 and the difficulty of calling the longwave as 09 or 13/16 does one's head in.

Travel Well

Last edited by ratfink; May 10th, 2013 at 05:22 AM. Reason: format
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