are u referring this book ?

http://www.amazon.com/Elliott-Wave-Princip...r/dp/0932750753

he is our EW guru.

hm...dallor rises along with oil and gold. dunno what will it be like for usd/aud/nzd/cad pairs...

Market Commentary From Monty Guild

    Author: Monty Guild


 

Dear CIGAs,

I couldn't help but laugh at the obvious Friday morning manipulation of the gold and currency markets by the G-7 countries. Let's face it, gold and currency valuations are report cards on:

  1. Inflation
  2. Bank safety
  3. Management of the US and other major economies.

No politician wants to run his economy in a way where he has to pay for all of his giveaways with taxes, so he runs budget deficits. He then finances the deficit by selling debt. This causes the currency of the bond selling country to fall and gold to rise. Often those who speculate against countries do so on high margin. So why not scare the speculators by selling gold and currencies while rallying the dollar on Fridays?

A speculator holding gold, currencies or any other commodity on 16 to 1 margin is often afraid to hold over the weekend because a news event could wipe him out. So the highly levered speculator often sells on Friday.

An old commodities trick is to buy a bull market on Friday when traders get out for the weekend. Clearly all of the major currencies are in bull markets versus the dollar. So highly leveraged traders sell on Friday and force the dollar up, then the experienced traders buy after the decline.

On another note, if you think natural gas prices are high here try comparing them with global LNG prices as was done on the front page of today's WSJ.

A few examples of price per thousand cubic feet of natural gas delivered:

    * Lake Charles, La, USA $9.36
    * Gujurat, India $13.70 .
    * Barcelona, Spain $12.50.
    * Inchon, So. Korea $14.00
    * Sodegura, Japan $14.20

The message is that even though energy prices have risen in the US, they are still well below world market levels.

Energy prices can go a lot higher. With energy prices rising why would people want to sell gold?

Respectfully yours,
Monty Guild

Forex trading stop on Saturday and Sunday is it?
Sorry guys,me very2 new in this

hmm...dont think EU would reach 1.6000 soon. It's been speculative since April that EU will hit 1.6000, but highest at 17th April was 1.5983, where there's a sub-resistance at 1.5950 (100% retracement on 18th Apr's bear). If the price couldnt close above 1.5950 by today, most probably it's close lower (bear) tomorrow.

hmm..there're only a few pairs that could show good patterns for EW..but trading EW means longer swing, hence need more free margin

just now i tried to look at tick, and also the price spread. hmm...i dunno how far true is it, but it seems like when the spread is high, prices are going up, while spread is low, prices are going down. This might show the trigger point. Too bad there arent any records long enough to study this...

eventually EU broke through 1.6000. I think i really need more studies...lol...now i wondered why i spent 4 years studying engineering. i should have go for economics!!!

add: i'm starting to vomit blood of out smooking too much, think i'll call it a day

yeah...false BO especially on consolidating prices...sometimes hit as high as 100 pips, kena most order positions (short) then those kena must forced to sell (if price going bull)... sigh...

hm...GU er...you might need to look at daily chart hor, it's been a downtrend. Strong resistance at 1.9950. 38.2% at 2.0002 and 61.8% at 1.9755. It might try the 61.8% support again.

low yat,

do u usually hold it for that long? The longest I ever hold was 1 week.
btw, what currency do u trade?

IC.. Cool. Wish u luck. I think u have known this already, but I just want to remind u, that u will need a wide SL if u gonna hold it for that long. Otherwise u re just gonna be taken out by crazy swings. Lemme know how long u can keep that trade. it will be entertaining to know how much u can tahan from the desire to close the trade.

Any recommendation for reference in stocks? Things like the brokers, real-time stock-price website, etc, etc.

sigh...testing out new strategy...hope it works this time...

lowyat..why? sculping didnt work well for you?

stupid GU...another freaking revesal...dunno whether i'm just that sway...hit entry point, then reverse all the way. If it's real money, i would have vomit blood to death...look at 8pm bar on 1H chart...anyone see why shouldnt i go short?

how much u transfer?...another usd2k...?

Is it any experienced trader here who able to teach me about strategy of trading forex? around KL area. I'm not a rich people, so i really cant pay much for those FoREx classes which charge so high.

I have been trading with demo account with my own strategy. but it seems like fail. I would like to learn more if there is somebody who is free and willing to teach me. TQ

aah...yes yes..it was less than 30 pips away from MA200. But the price eventually closed down to touch MA200  but it already hit my SL..but then, a hammer and shooting star formed after closing higher wide...later i adjusted the entry including spreads...seems better

pumping in money? going for longer swing?

apa2 hal ..trailing stop to save my own a$$ ...hahaha

p/s but i certainly do that it will dive until 202 ...hope the market is on my side  

apa2 hal ..trailing stop to save my own a$$ ...hahaha

p/s but i certainly do that it will dive until 202 ...hope the market is on my side  

anyone going short on EU? seems like it's going to continue it's bearish to 1.5500 then to 1.5400

ooh? what news on UJ? does look like its still bullish...just a little resistance at 104.8x..

lol...GU is like bouncing within the rather narrow resistace and support..how was your trade last week anyway?

EU starting to go down...but bounced back at 1.550x...should be able to break through 1.5500 soon ba...what you guys think? hm..but GU still seems to be rather drifting..

lowyat...quite good ma...May is a good month

aah...just the first day...no worries..anyway..just curious..how do you define your support and resistance? trendlines and past OHLC?

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Added on May 1, 2008, 6:24 pmGU..looks like ready to crash down again..

hai yo...  if you want to do investment, buy good US stocks and ETF la...

here are some readings materials for you to learn how...

http://investmentaction.blogspot.com/2008/...nd-website.html

or you should attend some good courses....

spend a few thousands to upgrade your knowledge...better than loosing tenth of thousands in the market....

market is nasty man...