Forex Day Trader's Thread

[Pippy5000]

Don't forget we have Asian and European markets to digest the US stock market crash.. death and destruction my friends.. death and destruction awaits..

Finally they realize.. "oh yeah, we really are screwed" ..

Yes, dummies its been on the 6 o'clock news every night for the past 9 months!

Today let me say that it was a pleasure taking the money of the bright-eyed optimists..

 

[RidderTrade]

yeah.. thanks for the oil rise to 41.77 bulls . now fear wil come into play, and rallys wil be difficult to maintain.. certainly remember, the first sharp rise.. will be sold off always..

 

[RidderTrade]

a lot of oil bulls, get burned today.. remember the next time, they will be full of fear and sell off .. sell a sharp rise.. the pattern wil repeat.. dont risk too much, but potential is nice

 

[RidderTrade]

pound shows true color today..

 

[RidderTrade]

when u examine pound.. you see the past weeks rises are rather slow compared to the declines..

 

[tripleogstar]

I think the pound's fall today was exaggerated by a number of factors coming together. Proft taking, inflation report tomorrow, housing sale figures that came out and the FTSE100 tanking. I am very much on the sidelines at the moment, do not know what the market holds for us tomorrow. I will go long on USD/CAD if it hits 1.2340. My view on the euro is bearish, but don't think the market shares the same views. But they will do after thursday's GDP report

 

[Pippy5000]

I didn't know that Tokyo was on holiday today! That would have put the finishing touches on so many currencies.. Europe is nearly sure to follow the US markets into hell..

But we can't seem to break this range for anything!

 

[Countvonaltibar]

The market won't be bullish, that's for sure. I'm going short on the hang seng, past performance predicts this is a risky move but here's hoping! ASX200 is rocketing, for it anyway...!

 

[RidderTrade]

I didn't know that Tokyo was on holiday today! That would have put the finishing touches on so many currencies.. Europe is nearly sure to follow the US markets into hell..

But we can't seem to break this range for anything!

did not know that either.. ,lets see for europe..

 

[tripleogstar]

Hows it going gents, bit quiet today aint it.

 

[Pippy5000]

bah.. more choppy bull**** .. Europe didn't break the bottom of the range and of course Us stocks are positive ..

 

[RidderTrade]

ftse100 looks like to finish positive..

 

[Pippy5000]

just look at the S&P chart today.. looks like choppy madness.. I'm out but will buy a nice deep dip on EUR/JPY or EUR/USD .. At this point trading the recent ranges makes a lot of sense ..

 

[RidderTrade]

thoughts on usd/chf pip?

 

[Pippy5000]

I'd short a lot higher.. It's way easier to move up from here than down ..

 

[Rambo09]

Hi, Pippy,
I have done my homework as you suggested. Being looking at EUR/USD over the last week or so, seems to be stuck in a band, are we likely to see a plunge during the Asian session, some commentators are looking at 1.2885 as a signal.

 

[Pippy5000]

Excellent work Rambo! It's actually called a range not a band although Bollinger Bands are a type of indicator telling you where to buy and where to sell.. I'm glad you did the right thing and aren't broke and busted before you ever had a chance to succeed. So welcome to the thread..

Yes, my feeling continues to be to trade the range!

Asia does not move currencies like NY and Europe do.. We had a chance the other day to break the range but by some miracle the Japanese were on holiday!

btw most Forex trading is done in the European session and not NY, however the NY session is usually wildest. I have entry orders in to buy dips on a variety of currencies.. I'd do the same if I were you and not try to take an early position because the price action is way too choppy.

 

[SSINGH]

I have been holding a short position open on Eur/USD from 13025.....its taking its time to drop....but I'm aiming at 12350 to take profit and then look for a long entry.....

I don't think the current range can hold too much longer....it should break hard south...

 

[Pippy5000]

I'd t/p at 1.275 on EUR/USD and start a new short position just south of there.. That could very easily bounce back on you in a heartbeat while it will take something really major to break 820 in the S&P and cause a HUGE flight to USD and JPY

 

[Rambo09]

Where is the Eur/Usd going guys, I assumed a continuance from Yesterday and it has dropped. Is it worth sitting on the side lines until the retail and jobless annouced?