Forex Day Trader's Thread

[bbc1183]

rumors that the us equity markets have rallied because of talk of a second stimulus package... obviously thats y euro rallied, and thats y i have a long position in gold as well.

 

[Pippy5000]

oh great.. just my luck!

 

[Pippy5000]

While I'm in it pretty deep here -45 .. I'm going to short EJ at 134.2 if Euro continues higher.. I should be able to get 40-50 pips on the EJ short

 

[bbc1183]

yea tricky day today, would be a little careful either way... im not doing much......they cant just keep printing money forever tho.... can they???? haha....seems like its ultimately only going to make the problem worse.

 

[cpngtw]

It's not finishing its upward move yet, so there will be retracement but watch out, will be choppy the rest of the day

 

[cpngtw]

That buy stop look ok. euro may move higher after a sideway periods, the highest I can see is at or near 1.422

even more than what I thought

 

[Jason Rogers]

Could be a point where eur/usd stalls. Take a look at 1 hr chart attached

 

[Pippy5000]

well it's no longer following equities higher so maybe we've gotten the worst out of the way

 

[N Rothschild]

i believe equities are gona roll over now

 

[bbc1183]

might get a small dip at the end of the day but seems unlikely that they roll over substantially

 

[N Rothschild]

Whistling Past The Graveyard? - The Market Ticker

 

[Pippy5000]

I'm hearing that an enormous buy order from the Middle East in EUR/USD went through this morning and that's the reason for the stop run..

Looks like Euro is coming down a bit now..

 

[N Rothschild]

i have a huge wang

 

[bbc1183]

just not sure if this was just a massive stop run or if it means something else... like it wants to move higher... still short, not stopped out yet

 

[vinicius]

I'm hearing that an enormous buy order from the Middle East in EUR/USD went through this morning and that's the reason for the stop run..

Looks like Euro is coming down a bit now..

The move began just before the oil inventory news..

How reliable the source Pippy?


Stopped out again.. And will leave it for now.. Time to re-think!

 

[bbc1183]

probably pointless to try to attach a "reason" for this rally... ive been scanning the news and finding sources that claim it was the huge buy order from the middle east, another claiming it was a fat-finger mistake which wound up buying 35,000 eur contracts instead of an intended 3,500... or maybe it was just a good old fashioned attempt to run some stops before it corrects and goes lower from here. but definitely time to re-evaluate. i am short a good size position from an average price of 1.43 but will not let it go against me... stop at break even. in my opinion if it wants to go lower its got no business getting up there.

 

[vinicius]

Would be nice to know the reason for the rally. Who is buying and perhaps figure out the reason. strategy and so on...

By any chance it is possible to see at the end of the day who is the biggest buyer or seller of the markets? Is there any kind of information like this??

The ideia of Euro getting at 1.30 and/or dollar bottoning was so clear/real that we got "blind" and hope the price move the way we liked it to..

We`ll see in the next days..

 

[Pippy5000]

The middle East buy order rumor is from floor traders talking among themselves and passing along the rumor via my broker.. I'm sticking with my short and will pull the plug at 1.4345

I'm about 30 pips down still but I was 60 so sanity is returning

 

[cpngtw]

The reasons and bias are good for medium to longer term trades, but not good for short term trades. If you do short term / day trades then better without bias

 

[Pippy5000]

there we go.. getting better.. still 30 down