Forex Day Trader's Thread

[Pippy5000]

actually the downtrend line comes in at 1.4695 and have reshorted there..

 

[jgos2]

I was thinking 1st res at 1.4737- 1.4741. So if if goes beyond this it'll have more upside. It's definitely coming down. UK GDP figures will not surprise upside despite some bullish comments from major retailers. Things are actually bad bad here(ps. I'm in Belfast now)

 

[Pippy5000]

S&P is posting lower highs and lower lows.. I thought it would be worth a shot

 

[Pippy5000]

it's also the 38.2% of the recent highs and lows on the dailies.. I have another order to get short at the 50% as well near 1.475

current trade is slightly positive

 

[Pippy5000]

booked 30 pips!

 

[N Rothschild]

:help:

 

[Pippy5000]

What's wrong man??

 

[N Rothschild]

nothin just euro is ****! talk about a ****ing chop fest

 

[Pippy5000]

I would be very concerned about a short position in Euro with the extremely bullish close above 850 in the S&P..

I just got long EUR/JPY

 

[N Rothschild]

just a 50% retracement of the down move..

 

[Pippy5000]

yes, but it would be possible for Japan and Europe to do the same and send EUR/JPY to its 50% at 130.1 .. I'm only risking 30 pips for a big gain..

 

[RidderTrade]

entry level eur/jyp

yes, but it would be possible for Japan and Europe to do the same and send EUR/JPY to its 50% at 130.1 .. I'm only risking 30 pips for a big gain..

at which price you entered pip?

30pip stop on eur/jyp (volatile ) ?

 

[N Rothschild]

in equities japan can often be a leading indicator..i.e it doesnt always follow on from the US session and sets the tone for the next days trading.

 

[RidderTrade]

checked out.. all moves against usd, still looks easily like countertrends..
(could be other story later in the week)

 

[Pippy5000]

I'm in 127.68 .. I believe that Japanese and European stocks will be positive and at least give me a chance for another breakout at 128..

 

[N Rothschild]

I'm in 127.68 .. I believe that Japanese and European stocks will be positive and at least give me a chance for another breakout at 128..

i really dont think so, japan will lead us futures lower imo

 

[Pippy5000]

it will be a good trade.. I'll get 30 pips on the breakout attempt and can flat/short on the failure for 30+ pips on the way back down..

 

[RidderTrade]

i am joining you pip.. long euro/jpy target 200pip

 

[Pippy5000]

maybe you shouldn't have

 

[jgos2]

i would have thought short euro/jap. Last month after the trade balance in Japan the Yen strengthened overnight and reversed the following day. I'm not expecting great figures from the Japs again tonight in 1 hour 15mins. Another round of Yen (and dollar against the rest) buying tonight? While markets are improving the AUD is going up but as a commodity currency will take a real battering soon. I went short on that tonight after GBP reversed on me.