DislikedI see you talking about selling USDCAD. Is now the time or should I whait/Is it to late?Ignored
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DislikedI see you talking about selling USDCAD. Is now the time or should I whait/Is it to late?Ignored
Disliked{quote} Good time to mention USD/CAD, GL. As you can see from my screenshot above, I'm lightly short. I outlined the trade on Sunday in my weekly update saying that I'd like to get short again on a re-test of the broken wedge support tested as resistance: {image} In my mind, we got close enough this morning and I like seeing that it's stalling here on another attempt at the highs we saw this morning. The 4-hour chart is behaving well with all MA's purely aligned: {image} That being said, I'm not as confident as you are in 1,000+ pips to the downside....Ignored
Disliked{quote} When i say 1k what i mean is 1k net over 4-6 addon positions. I'm not that convicted about the Cad lol. I'm only looking for price to get to around the 1.3640 area. I didn't state that correctly in the original post.Ignored
Disliked{quote} Stop is at 1.4010 which is a bit larger than I'd like but that's also why my starting position is smaller. I'll ratchet it down quickly should we get below 1.3800 and then start building a larger position too.Ignored
Disliked{quote} Thanks for that I am going to modify my stop up on that basis. I was on 1.3950. I keep getting stopped out all day today and it's doing my head in. I am learning my trade here and looking back at my orders I see I had some good prices on G/Y but too tight with the stops. Probably would help if I had more capital....but most importantly I have to stay in the game. I will share some analysis...but not yet. I am just working out the basics and don't want to pollute the thread with something unhelpful. Thanks to Geppy and all others who have...Ignored
DislikedHi Geppy, I am not sure, but Are we allowed to discuss Eur/JPY Here? if not please delete I noticed PA on E/J is stuck around 126.80 support, can you please comment, ThanksIgnored
DislikedHi guys, I'm trying to get into a short GBP/JPY trade as I missed out earlier. I am fairly new at this and have trouble getting the entry points right. I can see there is a downtrend and as far as I can see there should be a retrace to the 23.6% fib level? what indicators can i look at to decide if the price will reach this level and if it does, what level should i put a stop at? Here are my charts - may be completely wrong, but got to start somewhere! 4h Chart {image} 1h chart {image}Ignored
Disliked{quote} Hey Radbone, welcome! Glad to see you here and getting into FX. Seems you have the right idea... wanting to get short in a downtrend. And it seems you're looking at fibs as a way of doing so. But I think you need to make your own decisions in terms of exactly where you want to enter and where you're going to place your stop. That's something only you can answer because you are the one taking the risk and know your own tolerance. If you aren't sure, take a tiny position with a wider than normal stop. Start understanding your own risk tolerance...Ignored
Disliked{quote} Thanks for that I am going to modify my stop up on that basis. I was on 1.3950. I keep getting stopped out all day today and it's doing my head in. I am learning my trade here and looking back at my orders I see I had some good prices on G/Y but too tight with the stops. Probably would help if I had more capital....but most importantly I have to stay in the game. I will share some analysis...but not yet. I am just working out the basics and don't want to pollute the thread with something unhelpful. Thanks to Geppy and all others who have...Ignored
DislikedI've been reading another trader's blog here on Forex Factory, Greg Wilson, who years ago did a trade journal on the GBP/JPY pair and primarily focused his trading on pivot points. Looking at the daily pivot points on actionforex I see 163.54 as S2, so utilizing his strategy I would say that price is heading back towards S2. Does any one else use standard daily pivot points to enter trades or set pull back levels? Just curious.Ignored
DislikedYippee....our Forum has come alive!. Been MIA for just a couple of hours and I am delighted to see the dialogue My trades are bitter-sweet; more sweet than Bitter. GBPUSD I am nice. Got a bit trigger-happy and went it quite early Geppy.....never waited for the break!. Doesn't always work in my favour but this time...... {image} GBPJPY Got some at 164.681 but added at the wrong place - smack in the middle of Support - darned!. Worked with the break of the Ichimoku Support (Kijun Sen), followed by a full candle body with open and close. Well........Ignored
Disliked{quote}One thing to be careful of... you're trading USD/JPY, GBP/USD, and GBP/JPY. If you've got positions in the first two, there's really no reason to be in GBP/JPY. You're essentially taking the exact same trade. So what you've done is double your risk exposure.Ignored