Live Trading Room Quick Links:

Forex Academy Quick Links:

Misc. Quick Links:

Academic Library

Language:

Home
Online Courses

Featured Course: Japanese Candlesticks

Instructor: Muhammad Azeem | Level: Beginner+

No. Lessons: 6 | Type: Technical Analysis

Don't let your trading account crash and burn - get educated!

The answer is clear: No amount of reading can replace actual hands-on training on the live market, with a professional guide.
Trading Rooms

Featured Room: Live Trading Room

Trial: Free Week | Strategy: Mixed
Trades Taken: 238 (May) P/L: +664 pips (May)

Why Trade Alone? Trade Together!

Trading is NOT a solitary activity. Join a trading room today and find out for yourself just how social trading can be!
Reports+Alerts

Featured Signal: FXGroundworks

Trial: $5.95 Week | Strategy: Harmonics
Type: Automated System

A Trader Without Perspective Is Trading Blind

Our one-of-a-kind analytics packages offer unparalleled perspective into the minds of talented market professionals.
Forex Tools
Forex Brokers
Support
Forums
Blog

Live Help

Intraday Thoughts – November 11, 2008

Premium Market Reports by FXTechStrategy

Intraday Thoughts – November 11, 2008
Monday, November 10th, 2008 @ 11:56 pm by Mark De La Paz

A day of bankruptcies, record losses, and zero value stock forecasts saw US equity indices taking a nose dive two hours into the US trading day forcing currencies to give up earlier rallies following a strong showing at the open in Asia. Among the headlines was Circuit City filling for Chapter 11 just a week after announcing it was closing 20% of its stores, Fannie Mae for its part reported new record losses at $29 billion for the third quarter, while Deutsche bank forecasted zero value for General Motors shares all of which helped turn investor sentiment. So what is there for currencies to look for now? From a broader view yesterdays sell-off has forced intraday charts into oversold levels suggesting a technical pullback could be in the offing in Asia, still with markets once again turning risk averse we should be looking at selling rallies. A good idea would be to draw some fibs on intraday charts from yesterdays sell-off with aggressive entries around the 23.6 Fib areas though with oscillators just rising off oversold levels a more prudent 61.8 Fib retracement should be considered as our entry point for rejoining the short side of the market.

Related Posts:

Posted in Forex FunnyMentals

Advertising

Next Free Forex Webinar

Free Market Commentaries

Advertising

Forex Article Categories

Forex Links

Blogroll

Educational Partners

Advertising

Risk Disclaimer: Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the forex markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell forex instruments. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

All information on this website is for educational purposes only and is not intended to provide financial advice. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold FX Instructor, LLC and any affiliated traders, writers, analysts, and developers harmless in any and all ways. All rights reserved. The use of this website and or its contents constitutes acceptance of our disclaimer.

© 2006-2010 FX Instructor, LLC | Problem with the site? Click here to contact us.