Trend Reversal Prediction

[FXHolic]

Hello,

US Dollar weakness seems to be over by Friday on Non-farm payrolls. I expect the market to have its last blow on the announcement of the news, which I expect to be the last high on EURUSD, GBPUSD and other USD pairs, at least for mid-term.

I therefore, think that it would be the best time to buy USD on mid term basis.

[Norman1]

Gutsy prediction!

Can I ask what you base this prediction on?

I don't know which way the market is going in the future...I wait for it to take off in a direction (trend) then I jump on for the ride...

[FXHolic]

It is bit safer to wait for the market to show its mood. BTW one can never be sure of what the market will do next. If you switch to longer TF you will get to know trend exhaustion and reversal signals.

[dominion-rider]

Originally Posted by Norman1

Gutsy prediction!

Can I ask what you base this prediction on?

I don't know which way the market is going in the future...I wait for it to take off in a direction (trend) then I jump on for the ride...

You're killin me, Slick!

I suppose you ride it all the way to the depot?

[golhuntsleep]

Originally Posted by FXHolic

It is bit safer to wait for the market to show its mood. BTW one can never be sure of what the market will do next. If you switch to longer TF you will get to know trend exhaustion and reversal signals.

I trade long term, could you please tell me what you see for trend exhaustion and reversal sgnals.......I don't see any as of right now.......

[FXHolic]

Originally Posted by golhuntsleep

I trade long term, could you please tell me what you see for trend exhaustion and reversal sgnals.......I don't see any as of right now.......

Hi,

First of all, no one can be 100% sure about the market direction, whatsoever. I can be 100% wrong.

Market sentiment is also judged by observing how the market reacts to positive and negative news of different currencies. If USD sentiment is positive, it will ignore the negative news or spark just a spike but will move aggressively on positive news (and will do the opposite with the other currencies' news) and I guess, this is what happened today.

BTW, what signals do you look for to predict trend reversal?

This is what I mean by trend reversal:

[golhuntsleep]

Sorry, I don't see any of those to be reversal of long term trends...I do see it as a correction. 1 or 2 announcements do not make the currency turn in the long term, it is a series of events and announcements...so if your predicting long term trend reversal, you'd either need a GOOD elliot wave count or pile on a BUNCH of economic announcements with a couple world events to mix in......

[FXHolic]

Originally Posted by golhuntsleep

Sorry, I don't see any of those to be reversal of long term trends...I do see it as a correction. 1 or 2 announcements do not make the currency turn in the long term, it is a series of events and announcements...so if your predicting long term trend reversal, you'd either need a GOOD elliot wave count or pile on a BUNCH of economic announcements with a couple world events to mix in......

Sorry I didn't know how long term you trade, otherwise I would have refrain from posting my MID-TERM Prediction, you read my post wrong in the first place, let me post it once again:

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Hello,

US Dollar weakness seems to be over by Friday on Non-farm payrolls. I expect the market to have its last blow on the announcement of the news, which I expect to be the last high on EURUSD, GBPUSD and other USD pairs, at least for mid-term.

I therefore, think that it would be the best time to buy USD on mid term basis.
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