This topic was discussed at length here: Long term Profits within Negative Expectancy I must agree, as I wrote back then, that daytrading forex (opening and closing a position within 24 hours) is an exercise in negative expectancy. However, you can ...

I am short since .7170. Tp1 /7065. Tp2 / 6970. Tp3 / 6450 (could take 2 or 3 months). SL is .7315. Dollar weakness is due for a breather.

Well, we did not quite make 138.50, but she got very close. Most likely scenario is a move back towards the 145.00 area. I have been long for a few days since 139.80. It may take a while to get back up to 145 area. It seems we are in a summer range ...

I agree on that gap closing. I think the gap will close, plus a little extra downside... perhaps the 138.50 area? Good Trades to all!

Ok. reaching 143.40 (38.2 fib) took an extra 9 days, but it got there. Closed 2 lots (from 147.20) @ 143.45. Left 1 lot open to run. Not sure about a TP yet. Maybe the bottom of the range on the daily, 136.00? Daily RSI is only 43, so plenty of room ...

Wow. I did not expect such a big move today. It could reach my 143.50 target by NY close. No really big news today (economic). The stock market is getting hit pretty good. I suppose this is just a risk-off situation and the yen is appreciating. ...

If you look at a daily chart of UJ, it looks like there is a lot more drop left in GJ. Stochs and RSI still have plenty of room to the downside, but 4hr and less are pegged out below 30. Should get a breather soon before downside resumption. I am ...

Still short. Daily RSI and Stochs are pointed downward with plenty of room to run. However, the inability to break below 145.80 to confirm the Head and Shoulders pattern on the hourly does concern me. I would not rule out another push up near ...

There is a pretty nice head & shoulder formation on the 30 min and 1hr chart. This would indicate a drop coming fairly soon. Of course, I don't trade or give much weight to the lower time frames. I am short this pair (small position), but it has ...

I took a 1/2 position short yesterday after the news @ 147.40. RSI and Stochs (daily) were just too high (seemingly) for a big push upward. I will add another 1/2 position on a bounce up above 147.50, which may well happen in the next day or two. ...

Well, that was a pretty bleak inflation report. In short, inflation is not at the 2% target and probably will not be for some time. This will give a moment of pause for the big run up over the last 3 weeks. I see a move down to the 145.50-144.75 ...

Tomorrow's slew of GBP data should be very interesting. If outlook report is bad, it will bring down GBP and give this pair the opportunity to take a much needed breather to the downside. If report is favorable it should break g/j above this 148ish ...

Daily RSI is now above 82. This is nose bleed level. The highest I ever remember this pair going was 84 and that was a few years ago. There should be a pull back soon. If not a pullback, at least a period of sideways moving before it starts north ...

Not sure if a full retrace is on. 23.6% fib would be near 144.35. I would enter a 1/2 position if we made it that low. 38.2% fib would be near 142.65. Would enter another 1/2 position if we reached there. 50% fib would be near 141.35. Would add ...

I don't post much anymore, but good to see you too. It is hard for me to see any big breakouts this summer. Brexit is a huge uncertainty and I am doubtful about big moves until that political drama plays out. I see a Summer range between 150 and ...

Divergence on this pair at 1hr and 4hr is about as pronounced as you are going to see (looking at RSI). Would expect a pull back of 150-250 pips (at least) in the coming days. Good trades to all!!!

I seldom post anymore. I will give this one a try. Hope it helps. I do not say that this will be true for everyone. It is true for me. My big turning point was when I realized that I would never be able to take 5K and turn in into 100k in 1 or 2 ...

Yes, big moves are not as common. Why? Who cares! I have done quite well playing the tighter ranges. Will we have big breakouts at some point? Yes. But that might be next month, or 3 years from now. The new normal is less volatility and tighter ...

The market for small retail traders is, on a short term basis, random. I wrote about this in a old thread dealing with negative expectancy. If your trading style has you concerned with the short term direction of the market, the odds are against ...