Best forex charts out there today

This is a discussion on Best forex charts out there today within the Forex forums, part of the Markets category; Originally Posted by isatrader I personally like the GBP/USD as it's at a major support level that's developed since August ...

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Old Jan 15, 2012, 7:30pm   #31
 
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Re: Best forex charts out there today

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Originally Posted by isatrader View Post
I personally like the GBP/USD as it's at a major support level that's developed since August 2010 and has made a very large head and shoulders pattern. If that breaks down the measured move gives a long term target of 1.365

However, the three year trendline is just below and should provide additional support, so this could also be the turning point that breaks the last 6 months down trend. So personally I'm going to watch the price action and see how it reacts at these levels as they are quite significant imo.
I like your charts Dave. I think that close on the weekly has signalled we are ready to test 151 - a fib level. Daily held ok though, may mean we need to wait till US is ready after the long weekend (MLK day) before we drop.

Will look for intra-day short set ups for sure.
Mike
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Old Jan 15, 2012, 8:12pm   #32
 
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Re: Best forex charts out there today

I will follow the cad as we have similar opinions,Looking forward to the intraday morning stuff.Good luck
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Old Jan 16, 2012, 10:54am   #33
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread ok, well I'm short gbpusd here 15315, looking to hold for 15110. As daily is extended I will not risk much capital on this one so stop is at euro session highs - + spread - 15335.

I'm long usdcad from Friday but added this euro session as per my call at the weekend. Spec as posted over the weekend here.

Mike

Last edited by TradeTheEasyWay; Jan 16, 2012 at 11:08am.
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Old Jan 16, 2012, 11:08am   #34
 
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Re: Best forex charts out there today

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ok, well I'm short gbpusd here 15315, looking to hold for 15110

I'm long usdcad from Friday but added this euro session as per my call at the weekend.

Mike
good luck Mike,wheres the stop
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Old Jan 16, 2012, 4:59pm   #35
 
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Re: Best forex charts out there today

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good luck Mike,wheres the stop
Normally get more volume and action than this even when US is away, so late US afternoon put stop to BE +2 for the spread and got stopped out

Mike
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Old Jan 16, 2012, 5:32pm   #36
 
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Re: Best forex charts out there today

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Normally get more volume and action than this even when US is away, so late US afternoon put stop to BE +2 for the spread and got stopped out

Mike
Mike, can you please tell us in advance ,or do you train your clients to have an open stop,thanks.
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Old Jan 16, 2012, 6:23pm   #37
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread I teach traders the whole process of analysis, trade and account management and trader psychology.
I have developed a checklist to cover all the angles; it took me 6 months to do, noting all the details I use instinctively, the subtle checks, and putting it in 5 categories.

Measures / patterns / candles / behaviour / indicators.

In a situation like this I would keep my stop above resistance, then close right up if it didn't work - in the timeframe I took the took the trade.

Normally my stop is 2 bars back otherwise.

Mike
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Old Jan 16, 2012, 7:53pm   #38
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread I think you should read this, it fits in with my weekly analysis; we need to be careful and pick the time when the market is ready to show its hand. Not a lot of data this week, so markets may hover some more in this narrow range the dow has but I will keep you up to date.

Why the Cascade of Downgrades Has Barely Begun

Mike Hamilton
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Old Jan 17, 2012, 9:15am   #39
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread i'm short gbp on rev bar in 60 mins under fibs, stop 15385.

Mike
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Old Jan 17, 2012, 10:55am   #40
 
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Re: Best forex charts out there today

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i'm short gbp on rev bar in 60 mins under fibs, stop 15385.

Mike
2 x euro sessions in a row, gbp held up so took trade off ahead of the inflation data for break even. Looks like we could be heading for a bullish move out of the session as we head to the US session on the back of support for the euro.

All eyes in german data in 5 mins.

Flat right now.

Mike
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Old Jan 17, 2012, 11:07am   #41
 
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Re: Best forex charts out there today

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Originally Posted by TradeTheEasyWay View Post
2 x euro sessions in a row, gbp held up so took trade off ahead of the inflation data for break even. Looks like we could be heading for a bullish move out of the session as we head to the US session on the back of support for the euro.

All eyes in german data in 5 mins.

Flat right now.

Mike
looks like a good move Mike,can you please put entry level as well when you take the trade,thanks
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Old Jan 17, 2012, 1:10pm   #42
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread 2 hrs buying usdcad - rev bars in eur & gbp - NY will not support Asia's - to me 60 min set ups are great based on fibs alone <<
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Old Jan 17, 2012, 11:07pm   #43
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread The usdcad has stopped me out and thrown a hammer on the daily chart but the risk / reward isn't there for a trade.

Dow made the highest close for the year so far but it's still a narrow range.

My main focus tomorrow will be the gbp with UK jobs data out; if we break today's low we could go to 151.

I will also be looking to get postioned in the usdcad to see if it's worth holding over for a break up.
IF the usdcad does set up that will probably involve the dow failing so I will watch for dow weakness in my analaysis.

Mike
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Old Jan 18, 2012, 9:34am   #44
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread Euro session, short eur from 12798 in the trading room and long usdcad, waiting for pull back to short dow.

Looks like Italy is about to geta downgrade.

Mike
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Old Jan 18, 2012, 9:41am   #45
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Re: Best forex charts out there today

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Euro session, short eur from 12798 in the trading room and long usdcad, waiting for pull back to short dow.

Looks like Italy is about to geta downgrade.
Mike
Ah well. gonna the samaway as der boat.
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