ANyone else having a nightmare ......

[ffsear]

.....over the last couple of days?

Have traded what i thought looked like a good few breakouts on 15m charts, followed up by total reversals and 100%+ retracements!!! mainly on USD-JPY and EUR-USD!

Anyone else been having a bad week?

 

[shadowninja]

Need to know when to bow out to avoid being wiped out. Drawdowns happen.

 

[KillPhil08]

Last 2 days trend kinda slowed. Consolidation perhaps, means people with 20-50 pips stops get whipsawed to hell.

 

[RedGreenBen]

It could be worse (and could be one cause!)...

Much of EUR/USD price action said to have been a boo-boo – FX Briefs

 

[Pippy5000]

I'm about 100 pips underwater on Cable and Ninja and am expecting to get stopped out soon.. Yeah the price action has been ridiculous and generating false breakout signals left and right..

 

[KillPhil08]

Hope the losses weren't too bad guys, check out potential setups thread. I want to see some breathing space.

 

[alan5616]

.....over the last couple of days?

Have traded what i thought looked like a good few breakouts on 15m charts, followed up by total reversals and 100%+ retracements!!! mainly on USD-JPY and EUR-USD!

Anyone else been having a bad week?

I trade GBP/JPY, off a 5 min tf, and it's been pretty awful. I get the feeling that the forex markets have become hyper sensitive to news releases.

 

[Pippy5000]

I've been selling rallies on EUR/USD and GBP/USD all week with success.. It looks like the party might be over. I see a potential bottom in Cable and it has me worried.

The ECB event was boring as well..

I might hang it up for the week while I'm still in the black.. Way too much frustrating silliness happening.

 

[Masquerade]

Terrible week for me too. Don't know how many pips I dropped but it's a lot.

 

[normbeef]

Terrible week for me too. Don't know how many pips I dropped but it's a lot.

Sorry to hear it ... I havent made a trade for over a week now... twitchy twitchy..

 

[mgergs]

i've had losses and then starred into the screen unable to pull the trigger after those losses, only to see it run 100+ without me ..

 

[Pippy5000]

In 3 years of doing this I've rarely, or perhaps even never seen a counter-intuitive move like Cable is currently making.. Oil is way down and the only news of note is that the US govt. will be giving more money to Bank of America.. A lot of the downward movement in USD pairs this week was due to the fact that the stock markets were seen as potentially doomed.. It seems they are not as the 820 support held in the S&P500 and Cable shot through the sky with room to run.. I heard a big Asian name put in a very large order as well and shorts began to cover.. I eventually was stopped out for a decent loss, but not devastating. I have absolutely no interest in trading in "chicken with it's head cut off" environment tomorrow.. Will wait until a clearer direction emerges. If I'm going to gamble my money away it should at least be entertaining rather than frustrating. I didn't even get to see Wayne Newton..

 

[webart]

I think its best to wait until everything opens up and there is clear direction, at the moment everything is either consolidating, fibing or in reverasal, and its hard to til which. I took one trade on the EUR/USD which looked like a high probability trade, on a pullback on the way from one level to another, just a little spot trade, that may have turned into something more I hoped, and it slapped me in face instantly with a huge tank (perhaps due to some resistance on a longer timefrom) , then a couple of hours latter it came back up and completed the move and continued on up. I'm waiting til there is some clear trending again on the daily and the MA's are open.