Forex Day Trader's Thread

[KillPhil08]

**** Yeah

 

[SSINGH]

Cable just broke a head and shoulders pattern and could be headed south .. I'm short looking to 1.425

Pippy....isn't the dow also in the process of completing the head n shoulders pattern?

 

[RidderTrade]

dow

Pippy....isn't the dow also in the process of completing the head n shoulders pattern?

No.. the bottom is 6500 and from here dow will move to at least 9xxx . Ofcourse there will be some corrections..

 

[Pippy5000]

yeah I don't do equities SSINGH ..

My Cable stop is at 1.4535 adding lots at 1.451 .. Should be decent resistance at 1.452

 

[RidderTrade]

looks cable is moving the right way PIP

 

[RidderTrade]

Pippy500 is recommended by RidderTrade

 

[KillPhil08]

yeah I don't do equities SSINGH ..

My Cable stop is at 1.4535 adding lots at 1.451 .. Should be decent resistance at 1.452

great trade, target bounced within 10 pips. very good for a target which is over 200 points away. hope you spoil yourself over the weekend dude.

 

[Pippy5000]

Thanks guys! Yeah it's always great to wake up in the morning with a ton of positive numbers in your realized p/l column!

 

[Pippy5000]

I would sell Cable again on a rally ..

 

[Pippy5000]

I'm long EUR/USD on the bounce off the fibo at 1.326 looking to 1.335

 

[Countvonaltibar]

me too, it's struggling though should get around 60 pips easily

 

[Pippy5000]

We're up 30 pips Count! .. This actually has the potential to go 1.373 so I have my new t/p set there and I'm stopped out at 0..

 

[Pippy5000]

Bah.. I'm out .. 26 pips.

 

[RidderTrade]

Euro

We're up 30 pips Count! .. This actually has the potential to go 1.373 so I have my new t/p set there and I'm stopped out at 0..

i am not sure about 1.373 , euro/usd seems to have fallen in 5 waves.. which means the trend is Down.. however after every 5.. one can witness some kind of bounce..

 

[Pippy5000]

I had to bank the trade because I was worried about it gapping way past my stop loss over the weekend. Not really the worth the stress.. I did get 230 pips on Cable, EUR/JPY and Euro Friday so there was no reason to get greedy.

It bounced perfectly off of the fib.. This is great news because it means that the market IS using fib levels for support .. So it's in our best interest to make sure we have entry orders ready to roll.. The next downside target is the 50% fib and I'll try to get long 15 pips above the 50% fib retracement level with a stop 20 pips behind the 50% fib retracement level..

EUR/USD long entry 1.3112 s/l 1.30779

 

[Pippy5000]

Check out the oversold reading on the stochastics on the 1HR charts.. If it does break through the 38.2 fib level and reach the 50% fib it will be unimaginably oversold on the hourlies.

 

[Pippy5000]

Choppy Japanese session boys.. I'm going to sleep but you guys need to be on HIGH ALERT for shenanigans during the London session. Market is unsure what to do and over-reaction is almost guaranteed..

The EUR/USD trade I banked Friday gapped hardcore in the wrong direction and came right back up to closing levels.. SOOOOOO.. The Yanks and Japs didn't do much WATCH OUT and don't get overleveraged during the London session.

Hey all you newbie lurkers SAY SOMETHING.. I SEE YOU

 

[Pippy5000]

Ok... I'm just about dead tired but the Japanese stock market seems to have crashed hard! I don't know what's happening but it seems to be pretty devastating.. If Europe and USA follow we are going to see a very bad day for EURO pairs..

Major USD day except vs. JPY could be in the cards.. Nikkei 225 down almost 4% which is HUGE for their market..

 

[Pippy5000]

EEEEEEEEEEEEEK!!!!

Build rafts and just try to make it to the nearest small island.. The world is ending tonight.. DO NOT eat your neighbors! Don't bother taking any positions today.. just convert all of your assets to canned vegetables and batteries and BUILD STRONG RAFTS!

We're screwed!

 

[Pippy5000]

Ok... I am dying to go to bed.. we could see the 50% OR the 61.8% retracement level during Europe/US .. Japanese stock market collapse 3/30/2009