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Thats what I was talking about to you last night Hammer. I bought on Friday night as posted before and was out before, just got back and closed positions at: Euro/$ = 131points
£/$ = 247points
Total = 378points
Held postions slightly longer then you guys but I do hold my positions longer, infact this was a quick trade for me.
More then made up for last weeks blip.
On Sunday night they were losing a fair bit but stick with the 'overall trend' and it normally pays back.
Hows your day going guys. Markets are showing such volatility-dangerous!
£/$ = 247points
Total = 378points
Held postions slightly longer then you guys but I do hold my positions longer, infact this was a quick trade for me.
More then made up for last weeks blip.
On Sunday night they were losing a fair bit but stick with the 'overall trend' and it normally pays back.
Hows your day going guys. Markets are showing such volatility-dangerous!
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Well remember i said i thought there was a bullish triangle forming, looking at it i would have said the target was 1.8 so i entered at 1.76 with stop below the triangle at 1.735, but i closed that on the count that it hung around that lvl too long so unluckily i didnt catch the ride up. It was just too quick to jump in and prob a bit risky. Looking now for a dip before the next bull run.
However i jumped in on the dax at 3994 and closed for just 10 points profit, looked like it was forming a double top. Confidence a bit low today after missing a few opportunities but happy taking small profits for now.
How did you do buk?
However i jumped in on the dax at 3994 and closed for just 10 points profit, looked like it was forming a double top. Confidence a bit low today after missing a few opportunities but happy taking small profits for now.
How did you do buk?
Very straight forward walk through of recent hike. Nice one Zenda.
Looks like you did well then buk, think i might hold on to postions longer and use trailing stop and rising limit more as Zenda has explained. Then can reap larger profits and only 1 or 2 trades. But will wait for next entry signal. Cheers dude.
:cheesy:
Looks like you did well then buk, think i might hold on to postions longer and use trailing stop and rising limit more as Zenda has explained. Then can reap larger profits and only 1 or 2 trades. But will wait for next entry signal. Cheers dude.
:cheesy:
Good day today?
Hello Folks,
First post here. I've been reading this thread for a while, keeping an eye on EUR and cable. So anyway, this morning I thought I'd have a punt before going to work, went in at 1.2650.
Kept an eye on it at work, went well. Before the number, put in stops to either capture some profit if the number was good for the USD, or double up if bad. Worked great. Went home and took it all out at 1.2700
So, what do you guys think? on to 1.30? how many more troughs (50pt)?
Also, what's the better instrument to trade? Cable would have increased the loot by 50% today. And I suppose the UK rate is more likely to go up than the EU rate? Where are the critical levels gonna be?
Hello Folks,
First post here. I've been reading this thread for a while, keeping an eye on EUR and cable. So anyway, this morning I thought I'd have a punt before going to work, went in at 1.2650.
Kept an eye on it at work, went well. Before the number, put in stops to either capture some profit if the number was good for the USD, or double up if bad. Worked great. Went home and took it all out at 1.2700
So, what do you guys think? on to 1.30? how many more troughs (50pt)?
Also, what's the better instrument to trade? Cable would have increased the loot by 50% today. And I suppose the UK rate is more likely to go up than the EU rate? Where are the critical levels gonna be?
Lordnacho well done on the trade by the way. Using basic support/resistance lines the next pullback on the euro could well be back to 1.2625 before it goes up again.
I personally trade the gbp more as it is more volatile, prob more dangerous too! As for critical levels im not sure, i usually just trade what i see. I assume the gbp will go up at least as high as it was last week so im looking for 1.91, could be more though.
Good luck :cheesy:
I personally trade the gbp more as it is more volatile, prob more dangerous too! As for critical levels im not sure, i usually just trade what i see. I assume the gbp will go up at least as high as it was last week so im looking for 1.91, could be more though.
Good luck :cheesy:
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Well done mate, According to my interpretations and I've stated this before 190 is major for the sterling along with 200. For the Euro 130 is resistance that has never been hit before and dangerous as ECB will start verbally intervening by spooking the markets as to the thought of intervention.
I also sold out today. I would want to buy back in as the euro seems settled at 127 for now and could push on to highs this week. However if that was the case then I might be tempted to close at around 129-130 and possibly short the euro as verbal jawboning will start.
'Lordnacho' was this your first forex trade?
I also sold out today. I would want to buy back in as the euro seems settled at 127 for now and could push on to highs this week. However if that was the case then I might be tempted to close at around 129-130 and possibly short the euro as verbal jawboning will start.
'Lordnacho' was this your first forex trade?
Hi Lordnacho
welcome!......good punt today! most consensus I guess suggests a pitch back towards recent high's, the 1.29 level being a likely reaction point. The 2600 downtrend was taken out, so the usual supports will be closely watched on any pullback, the obvious one being just below today's b/o.....beings as none of the fundamentals have really changed, the short term outlook appears bullish on euro.....cable certainly deleivered on today's push, and I imagine you're looking at the same tech picture as the rest of us, assuming your entry this morning was on the break above the overnight channel?…..should cable run thru the obvious levels north (8935/50 & 9000), then a similar push to the high’s is on the cards…..southerly the ones to watch should be 8810,8790/35 & the 8600 number.
welcome!......good punt today! most consensus I guess suggests a pitch back towards recent high's, the 1.29 level being a likely reaction point. The 2600 downtrend was taken out, so the usual supports will be closely watched on any pullback, the obvious one being just below today's b/o.....beings as none of the fundamentals have really changed, the short term outlook appears bullish on euro.....cable certainly deleivered on today's push, and I imagine you're looking at the same tech picture as the rest of us, assuming your entry this morning was on the break above the overnight channel?…..should cable run thru the obvious levels north (8935/50 & 9000), then a similar push to the high’s is on the cards…..southerly the ones to watch should be 8810,8790/35 & the 8600 number.
Hello,
User, this wasn't the first trade... I've thrown away a lot of dough on various ideas about when breakouts would occur. I'm still a beginner though. Also, stilll think 1.30 will happen, though maybe not without another big (100pt?) correction.
Buk, yeah, I entered because the level seemed a bit higher than it was last night. And also, I didn't have time to wait before going to work!
Where do you guys get the critical levels from? Just eyeballing the chart?
Lastly, how far out do you put your stops? Before the figure, I had a closing stop at 1.2603 and a doubling stop at 1.2625. What do you guys think? I suppose I could have placed them closer, but then there the risk of them both getting triggered.
After today, do you guys think cable is more risky (than eur$ or $yen)? There's not as far up to the 1.90 level as there is to 1.29 or 106.
User, this wasn't the first trade... I've thrown away a lot of dough on various ideas about when breakouts would occur. I'm still a beginner though. Also, stilll think 1.30 will happen, though maybe not without another big (100pt?) correction.
Buk, yeah, I entered because the level seemed a bit higher than it was last night. And also, I didn't have time to wait before going to work!
Where do you guys get the critical levels from? Just eyeballing the chart?
Lastly, how far out do you put your stops? Before the figure, I had a closing stop at 1.2603 and a doubling stop at 1.2625. What do you guys think? I suppose I could have placed them closer, but then there the risk of them both getting triggered.
After today, do you guys think cable is more risky (than eur$ or $yen)? There's not as far up to the 1.90 level as there is to 1.29 or 106.
