FX trading Oct 22-26

[trendie]

new week. half term.
last week was unusually ineffective for me, hope some made gains.

this morning shows gaps for me on all the majors.
the green-line reistance on my previous charts seems to have been breached. (screen-shot to follow at some time).
so, perhaps, 2.0445 is now support?

have a good week. I am out of the game until this afternoon, and the yanks wake up.

 

[JillyB]

Morning Trendie,

Yes, I noticed the gaps last night, especially on the Cable. Took a sell trade and made +14 pips nice and easily. Then got into my overnight trade, only to be stopped out at 3.24am this morning as the price continued to fall.

So -34 pips so far and it's still Monday morning
No news today so it looks fairly quiet - having said that the cable has just broken support and looks as if it will close below it on a 1 hour chart. Must go - I feel a trade coming on.....

 

[shadowninja]

Looking interesting...

ETA: twiddling thumbs. *surfs the web to avoid doing his usual impatient bungle job*

ETA2: a heads up for EUR/USD; it's hovering above Support and looks like it's about to head back up.

ETA3: EUR/USD is close to a 4 hour trendline, so could be good for going long and holding for more than a day.

ETA4: web surfing saved me money, there! Would have smashed through my stop.

 

[shadowninja]

Anyone profit from this sudden drop? Nearly went short EUR/JPY with 3 Ducks but the indicators weren't right. Oh, well!

 

[JillyB]

Anyone profit from this sudden drop? Nearly went short EUR/JPY with 3 Ducks but the indicators weren't right. Oh, well!

Nope -40 pips on Cable
Was looking for a bounce of support - that never happened.

-74 pips overall for today What a bummer!!

Definitely not a happy bunny - whatsoever!!!!

 

[shadowninja]

Ouch.

I put an Order To Open about 40-50 pts above each pause in the dropping price. Hopefully, the climb begins and we can soak up some points. Spot GBP/USD has one at 20340. Forward EUR/USD has one at 14189.

 

[2be]

Ouch.

I put an Order To Open about 40-50 pts above each pause in the dropping price. Hopefully, the climb begins and we can soak up some points. Spot GBP/USD has one at 20340. Forward EUR/USD has one at 14189.

Bought cable @2.0331 SL2.0283, Limit 2.0400 Got an order to add second load @2.0555 [email protected], Limit2.0400

 

[trendie]

can someone explain this one to me: (please)

FXInsights:
Mon: 22/10/07: 12:06PM
The Team will be buying EUR/USD between 1.4200 and 1.4180. See website for details.

FXInsights:
Mon: 22/10/07: 1:53PM
The signal issued earlier today has paid out with 60+ pips potential. We will take profits while holding our best longs for higher profits. See website for details.


Looking at the EURUSD chart, I cant see where 60 pips can be gained,
There is a reference to "earlier signal". but my email account shows an earlier trade last Tuesday, so it cant be that.

There is a possiblity that I mass-destructed their emails, a consequence of being overly tidy, but any idea would be appreciated.

EDIT: I dont use them, or trade their signals.

 

[shadowninja]

Perhaps they are one hour out, time-zone-wise?

 

[trendie]

Perhaps they are one hour out, time-zone-wise?

if the better price of 1.4180 is taken, EURUSD needs to hit 1.4240 for the 60-pipper to make sense.
if the 1.4200 price is taken, then EURUSD needs to hit 1.4260 for 60-pips to be made.

my chart doesnt show such a price. in fact it has gone lower.
(blue lines are potential entries)

Dont even know why I bother with this, I dont trade them, but am concerned if some do take their signals.
guess I am just being pedantic.

 

[shadowninja]

Ooops, misread the numbers. Maybe they are shorting today's one and holding one from 2 weeks or so ago.

 

[TheBramble]

trendie, you could have bought EUR/USD between 4180 and 4200 any time from 12:20 to 12:40 and 13:45 to 15:25 today. As it’s not been above 4200 since that first point at 12:20 and has only been above 4180 between 13:45 to 15:25, the rest of the time below, and currently at 4132, there's been limited capacity for a profit from a Long. There is certainly no point today regardless of their timezone they could have made 60 pips on a Long position. Ask them for clarification. I'm sure there's a reasonable explanation.

If they’d been any good, they’d have picked the divergence at 08:30-10:30 and taken the short break down to major Resist at 4145, that would have netted them 155 pips if they’d been sharp. I was slow and only picked up on it as a real break on the ‘big’ bar at 11:30. In at 4236 and out at 4152. I typically place my exit 7 pips ‘to the good’ of the major R/S and leave the last few pips for the really greedy types, but even so, 84 pips pays for the bacon rolls….

 

[shadowninja]

If they’d been any good, they’d have picked the divergence at 08:30-10:30

good going with the 84 pips. What do you mean by the divergence?

 

[SavanteFX]

Hey guys, i'm a new member to these forums and can appreciate that most on you on this thread have what I would see as substantial experience. Although being new to this game I have shorted both GBP/USD and EUR/USD as of 13:30 GMT. It's breaking alot of support levels and i'd just like to hear your opinions on where you think the fall will end. thanks a lot

 

[shadowninja]

I would have thought taking your money and running would be a wise move now. 5 minute charts show sideways action. 4hr and 1hr indicators suggest momentum has been lost BUT I've seen them at the bottom or top and the price still falling or climbing.

If you did hold overnight, then maybe stoploss at 50 points to minimise loss and fingers crossed for another fall tomorrow? (I am a newbie, too.)

*points to his signature message*

 

[TheBramble]

good going with the 84 pips. What do you mean by the divergence?

Oscillator divergence.

 

[shadowninja]

Oscillator divergence.

Thanks. Price oscillator?

 

[combotrader]

Have people seen the hammer that the yen is making on its daily chart ?

1 hr chart also looks bullish. Still think yen has to fall to about 112 though.

Looking to short any pullbacks and for that macd divergence...

112 pips today after a torrid time last week. No targets or discipline - gains became BE`s and even losses. Better start for everyone this week it seems.

Good luck...

 

[trendie]

I have extended the green-lines Sup/Res longer-term.
(I have also changed the HL, LL text to red, from black, in order to retain the history.)

the Resistance was breached, but didnt become support.
However, the drop seemed to be cushioned by the longer-term Support.
go figure!

 

[bbmac]

Couple of hours to go yet, but Today's Gbpusd Daily candle (see screenshot) is likely to close as a Bearish engulfing candle, with support today found near the bottom of the October 0242-0491 congestion zone so visible on the 4hr chart.