Forex Day Trader's Thread

[Andrey-trader]

My analysis of todays eur/usd.I analyse euro futures - because volumes for futures are aviable.Today market made new max volume of all contract at 1,2845-1,285 and declined from it.I shorted under 1,281 as it is bottom of this contract, from there market gained on Tuesday after they formed 6000 lots during Friday-Monday .

Today is a tricky day- news about jobless claims and cutting rates.That is a reason not to trade at all.Good stratedgy- always to cover at least half when after market gave you some money, and put s/l at the openening price, or just above large volumes from which you trade, that will make trading less nervous and more comfortable.

 

[SSINGH]

I'm short Cable 14670....Stop loss @ 14800

 

[KillPhil08]

SSINGH, if it rallies to 148 it'll probably bounce off the round number. I was looking for a sneaky short here too though.

Edit, my bad it hought you meant 147.

 

[Pippy5000]

well nevermind about the 8 week ninja range.. just got blasted..

That stock market move was really ridiculous..

 

[Andrey-trader]

Yen

YEN
Excellent day.Market made large volumes of contract:

Yesterday it went below 1,1235 and today market was forming intraday volumes around 1,114-1,1154.There was really large accumulation of max volumes of hours in little price range:
That tells us about high interest of market to that prices:

Market rebounded from 1,1154 made 2 stick volumes at 1,1134 that tells us that if market will go below that huge volume that was forming during all day in a close price range and rebound- that will be sure trade.Market went under 1,114, came back and rebounded.Very beautiful, no risk at all:

Freedom.Nothing resisted for market to decline:

 

[Pippy5000]

This could be major.. this could be the beginning of the spring rally to 1000 in the S&P500.. This would have the potential to create huge new uptrends in USD and JPY pairs as these currencies get totally hammered.

 

[SSINGH]

I'm short Cable 14670....Stop loss @ 14800

moved stop 14670

 

[RidderTrade]

well nevermind about the 8 week ninja range.. just got blasted..

That stock market move was really ridiculous..

Come on..give me a break.., there is substantial risk of PPT buying into the market if dow slides under 8000 to far.. I mentioned this yesterday, of course its a danger for euro shorts, or indices shorts..
does PPT care if there is a debt of 200 trillion or 300 trillion.. no they dont..

I got trailed out on my indices short.. luckily i trailed..otherwise i would have run into problems.. The MACD on hourly crossed, nasdaq opened with a gap, euro showed a bearish reversal in hourly.. IF ONE DOUBTS PPT EXISTS, TODAY HAS PROVED THEY DO EXIST

Yeah this market stinks, people who does very hard work looking in the charts.. get.. hammered..

Guess what.. because of this idiot market, i saw no choice to buy oil around 40, which did not run up at that moment, so
.. Give me a break should i trail again because oil is now 41.20.. and get scalp-trailed again..

annoying market, stay at the sideline, or run with the mad cows in one direction..or stay out..

 

[tripleogstar]

key resistance on ftse100 at 4300. I will short as we approach this level

 

[RidderTrade]

8000 level. for dow.. we need a sustained break below that.. on a closing basis.. to see further collapse..

 

[tripleogstar]

There a gud chance dow will close below 8000 rid. Don't think the market is full convinced with this rally, hasn't been strong and sustained

 

[RidderTrade]

we will see tripster .. they stay americans..20minutes left..

 

[RidderTrade]

8063 closing price dow

 

[Pippy5000]

I am down $1000 this week and will be taking it easy until a direction is found.. This price action is very difficult to trade.. EUR/JPY did the mother of all short squeezes today and hurt me very badly..

 

[RidderTrade]

pip what are your thoughts on euro and great britain Pound

 

[RidderTrade]

agreed pip.. markets are moving up and down.. like idiot.. very hard.

 

[Pippy5000]

to tell you the truth it looks like EUR/USD could get hammered because stocks rallied big time today yet EUR/USD is getting weaker.. This would mean that a bad day on the S&P500 would put a big hurting on EUR/USD..

Of course if the US data is positive we could blast through the crucial S&P500 level of 850.. A sustained break of 850 would send risk trades flying..

Cable could go really high.. but I'm not risking it..

 

[tripleogstar]

I agree 100% pip. I am convinced that cable will rally tomorrow, unless payrolls are terrible and there is a 'flight to safety'. I think a great trade for this situation is Long GBP/USD and short EUR/USD. If payrolls are bad and equities sell off, EUR/USD will get hammered, so will GBP/USD (although no where near as bad) but you are hedged with the euro/dollar trade. If payrolls are good and equities rally, you will make a killing on the long GBP/USD trade, and may even make a small profit on EUR/USD. BUt otherwise, could just go long on GBP/EUR because that is what my strategy is basically implying. However, with that one trade, you are exposed to technical levels on the pair which could prove detrimental for the trade

 

[SSINGH]

here are my bets for today

Cable....I'm Short.....
Euro/Dollar....I'm Long
GBP/Euro.....I'm Short
Crude Oil (April - 09)...I'm Long
Oats (March-09).... I'm Long

 

[bclee66]

i think follow yesterday trend eu will furhter pressure down on non-farm payroll.
eu looking for more down maybe back down to 1.25xx area.
gu ej gj will be down also expect non-farm payroll will be bad this time.
risk has cool down a bit on yesterday boe interest rate cut,gu gj ej aming higher but down after ecb hold on rate decission but still very much intact. look closely tonight figures most likely will be bad and pull down eu the most and follow gu ej gj.