Forex Day Trader's Thread

[RidderTrade]

sure.. but i sold.. gbp at 1.4580 today.. couldn't believe it.. it was up more than 400pip.. yeah i took profit 180pip.. but i shouldn;t.. gbp will plunge to at least 1.4050.. but dont want to hold a trade, as that silly holiday comes in
we can see some more fool movements.. oil up 12% ? yeah this is what you can expect.. sold at 38.10 and trailed to 37.70 trailed out, but not bailed out, lets hope the foolishness continues on monday, yeah you can do the maths. 33.50 to 41.70 50% retrace 47.60 and the 61,8% will be around 38.50.. need another rise on monday, to get in short, though this could be all of the counterbounce..

yeah its foolishness but also this market gives you nice opportunities if you are patient.. and aim, aim... and one more aim.. to fire

 

[RidderTrade]

markets come to a close..
gained today, and also for the week

have a great weekend

 

[Pippy5000]

I did good this week too.. Particularly due to that EUR/JPY trade but a bunch of little small scalps here and there added up quite nicely..

These ranges are on the verge of breaking higher.. I can feel it and I know because currencies did not fall in price even though US stocks were way down.. This means that there are other major forces pushing higher. A decent stock rally will easily break the recent ranges pushing currencies higher vs. USD and JPY

 

[RidderTrade]

the reason that.. euro behaves like that.. is because euro/usd could be in a triangle.. after that.. euro should thrust sharply lower..

 

[tripleogstar]

Might be quite tomorrow, with the U.S market closed tomorrow. I will be trading gilts and bunds tomorrow.

 

[Pippy5000]

There will be some really crazy moves due to thin liquidity.. There won't be a lot of active positions so it wouldn't be too hard for a big bank to come along and set off a chain reaction stop run.. I bet a lot of things happen you wouldn't expect to happen.

 

[Pippy5000]

HA! They didn't waste much time to pull their silly ****!

I'm on the sidelines.. don't see anything.

 

[RidderTrade]

the reason that.. euro behaves like that.. is because euro/usd could be in a triangle.. after that.. euro should thrust sharply lower..

euro now down sharply..
dont get fooled by .. it looks like the euro is wanting to move up.. at some stages.. no thing comes " gebakzeilt " in one straight line.

first down hard, and then.. one can buy euro if you ask me..

 

[tripleogstar]

I see euro tanking, mite see a pull back. But by end of the week it will tank. Ireleland is on the verge of defaulting on its debt, that alone is enuf to crush the euro. The market has yet to fully price in the poor gdp figures last week. Even more so, you have a bunch of data coming out in the U.S this week which is likely to lead to risk aversion.

 

[tripleogstar]

There is support in the 1.2770 area, let's see if it can break it

 

[Pippy5000]

Hey Ridd, I'm providing tax revenue for your government again.. ****ing Heineken!

Cable has been devalued.. a buy if you ask me, but Japanese GDP just came in worse than expected so let's look to pick up Cable when the GBP/JPY selloff stops..

 

[jeffsmith]

You can short this pair and I giving you some levels which you can follow and can take trades in this pair.

Short term (Intraday)

1,2743. EUR USD is in a range between 1,2730 and 1,2940. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Bollinger bands are deviated. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,2730 (13 pips). If the support breaks then the target will be 1,2300 (443 pips).
We could take a short position at 1,2750. We will put the stop loss above 1,2830 (-80 pips). The targets are 1,2600 (+150 pips, risk/reward 1:1.9), 1,2500 (+250 pips, risk/reward 1:3.1) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 1.

Resistances
1,2810 - 1,1880

Supports
1,2730 - 1,2600

 

[RidderTrade]

Hey Ridd, I'm providing tax revenue for your government again.. ****ing Heineken!

Cable has been devalued.. a buy if you ask me, but Japanese GDP just came in worse than expected so let's look to pick up Cable when the GBP/JPY selloff stops..

hej pip.. cheers..

 

[RidderTrade]

usd. can surge first, before reversing if you ask me..

thanks, ridderr

 

[Pippy5000]

Without NY the price action is incredibly boring ..

 

[RidderTrade]

went short oil from 38.00 to 36.75 today

went again short at 37.15, maybe not the best price any more, but HEY as long as it works,i will keep shorting.. as dow will dive to new lows, oil wil surely move rapidly lower before your eyes, you will probably get no chance to get a good price in a declining trend, and you better be in it.. yeah oil is famour for its volatility always use stoplosses, if you dont want to use stoploss go trading the iceland stock exchange .
furthermore one can always decide to take a loss, if you look at last week
i took a mere 9 pip loss on a currency trade, after which i gained a 180pip on the next.

surely, i risk only a % of the ACcumulated gains.

the time i have to pick a loss on oil will come, and could be very close

other option is to go fishing if you want have no risk, but fishing is surely boring

oil brought some luck last week

take care

 

[Pippy5000]

There's nothing going on at all in Forex today .. Currencies moving in 10-15 pip ranges for hours..

 

[RidderTrade]

yeah.. choppy

 

[Pippy5000]

alright I've entered a position with 2 lots short EUR/USD at 1.28 s/l 1.303 and I'll manually take profit

 

[Pippy5000]

Just a heads up... It looks like everyone is putting their money into USD rather than JPY now with the bad data coming out of Japan.. USD is incredibly strong as a result.. All flight to safety action is pointed towards the USD .. This will be the week the recent currency ranges break..