Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: U.S.$ Index/Losing Steam short term/Lee

Hi Lee. DX typically pulled back breaking that steep uptrendline as the chart suggested it would. And of course we had the b.s.European 'story' to explain it all away. See how well the chart gives the news "ahead of time". So now the pullback has been a perfect 50% of the rally from late August and stopped at both the 50ema and 200ema support line both at about the same price point with the 50ema just a little above the 200ema for the 1st time since Sept 2010. A very good sign! And of course the rising 20ema is above the rising 50ema now. 1st time all 3 have been positive since July 2010. Price is now bouncing off this price of 76.16. Technically the multi month channel top breakout point is at 76.50 so price could pullback to that but DX is presently finding solid support at the 50ema and 200ema. The RSI 21 which has been above the 50 line since early Sept has just come back to the line again and is turning back up. Nothing wrong with DX from what I see. I'd post a chart but I'm experimenting with most of the settings right now to research some ideas and don't' want to change them all at the moment. With Qcharts I can drag the chart backwards for years and slowly drag it forward and make notes on the price action relative to a variety of indicators to see what has a 'consistent' track record of dependability within the realms of reason. Never know just what may jump out at you unless you do your homework.