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MoneyFocus' thread of forex and fun

  • #81
  • Nov 17, 2017 12:06pm Nov 17, 2017 12:06pm
Hello all. I thought XAU/USD would reached 1290 thereabout and that's it. But it is still gaining strongly. I am thinking of placing some shorts in + selling xau/usd collects swap. Any thoughts?
  • #82
  • Nov 17, 2017 1:16pm Nov 17, 2017 1:16pm
Quoting Tyrion24
{quote} Then you must sleep well. LOL I was curious because several times I've seen the debate about using them or not and wanted to know what camp you're in. I'm in the same camp....hello neighbor.
Hello all. My name is Mark and I'm not a fan of the stop loss. If I'm away from a terminal for a while then I'll use them to protect against a MAJOR and UNEXPECTED move. But other than that I'm fully aware of my pain tolerance thresholds and will usually manoeuvre in & out of positions manually.
Focus.
  • #83
  • Nov 18, 2017 12:13pm Nov 18, 2017 12:13pm
Soon weekend will be over and it would be time to battle again...I like that...
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  • #84
  • Edited 4:20pm Nov 18, 2017 3:16pm | Edited 4:20pm
well again i find myself against the grain. I just cant find more than one reason. to sell the dragon. An opening gap down would add to the bullish bias. my opinion, buy the dips. and strap in. This week should be one way. up.
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  • #85
  • Edited Nov 19, 2017 11:54am Nov 18, 2017 3:18pm | Edited Nov 19, 2017 11:54am
usd/jpy same boat.
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Edited chart, same thing just a better setup.
  • #86
  • Nov 18, 2017 5:34pm Nov 18, 2017 5:34pm
ej same thing again, bulls, bulls, bulls, we shall call it the running of the bulls if it works out.
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If anyone has a particular pair they would like me to mark up. let me know. im not an expert, i typically have different point of view than most.
  • #87
  • Nov 18, 2017 8:29pm Nov 18, 2017 8:29pm
Quoting 4xjunkie
well again i find myself against the grain. I just cant find more than one reason. to sell the dragon. An opening gap down would add to the bullish bias. my opinion, buy the dips. and strap in. This week should be one way. up.{image}
I'm not bullish on the Dragon, still neutral, but a little more inclined to bullish bias in the very short term for now.

Yen is going to be tricky, so I am actually looking at Cable instead. Would you like to weigh in on that?
  • #88
  • Nov 18, 2017 8:50pm Nov 18, 2017 8:50pm
My personal take on the Dragon: I think the trend is bearish, but we will see a relief rally. As with the Dragon, its movements are usually very violent. If the relief rally turns out to be strong and breaks past certain points (eg 148.80, high price volaility 148.94, 149.24), I think there will need to be a new assessment of my view of the bearish trend.

For now, in the very short term, although I am of the view of a bearish trend, I would not short the GJ. I would only short if it dips below another support level, otherwise I would consider building positions on rallies. If I am feeling adventurous, I would be taking longs, though it is, imo, a counter-trend trade, so a need to be cautious too.
  • #89
  • Nov 18, 2017 8:52pm Nov 18, 2017 8:52pm
I would also like to take the time to say that I'm very appreciative of the PMs I have received and all the sharing in this thread, be it of a similar or differing view from mine. Please continue to have fruitful discussion and have an open mind. It doesn't hurt to listen to a different opinion and then re-assess your judgement. This is what makes us all better traders. Cheers and good Sunday!
  • #90
  • Nov 18, 2017 10:51pm Nov 18, 2017 10:51pm
Quoting MoneyFocus
{quote} I'm not bullish on the Dragon, still neutral, but a little more inclined to bullish bias in the very short term for now. Yen is going to be tricky, so I am actually looking at Cable instead. Would you like to weigh in on that?
Ask you you shall receive my friend, Your going to love this, Its home school map making at its finest. but while i was drawing it, a flash memory poped up/ cable +600 pips. then i measured it. 619 pips. sorry my nt8 would not load the chart. i Had to use my mt4
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I think i might drop a few ej's for a few of these. i like what im seeing. Anything can happen at any time. I just go with what i know. i really do.
  • #91
  • Nov 19, 2017 10:25am Nov 19, 2017 10:25am
4.5 hours to kickoff...I meant, market open.
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  • #92
  • Edited 4:47pm Nov 19, 2017 4:32pm | Edited 4:47pm
swaped 2 ej's for 2 long gu's lets see how it goes
  • #93
  • Nov 19, 2017 5:43pm Nov 19, 2017 5:43pm
looks like a good time to buy uj
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  • #94
  • Nov 19, 2017 7:24pm Nov 19, 2017 7:24pm
gbp/usd maybe. looks like 1.32 rejected price.
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  • #95
  • Nov 19, 2017 9:38pm Nov 19, 2017 9:38pm
Markets seem to be ranging....hmmmm.

Dear 4xjunkie, are you long on Gu already? I think if it can stay above/close to 1.32, it does look like a buy.
  • #96
  • Nov 19, 2017 9:49pm Nov 19, 2017 9:49pm
Some quick updates:

1. GU if it stays above 1.32, I think there will be momentum for bulls.
2. Euro should continue to be under pressure.
3. Aussie is still under pressure, but finding entry points will be tricky. Shortists might want to consider shorting it against the SGD, however I think the spreads are wider and not as attractive.
  • #97
  • Nov 19, 2017 9:55pm Nov 19, 2017 9:55pm
Quoting MoneyFocus
Markets seem to be ranging....hmmmm. Dear 4xjunkie, are you long on Gu already? I think if it can stay above/close to 1.32, it does look like a buy.
my ambition got the best of me. should have waited. it should still fall in my favor. uj,gj,and ej are all moving nicely together. i think we are at the low for uj maybe one push lower, would be a perfect setup. but that would make it to easy, if it falls short, alot or orders should me missed, even though the time and sales feed is heavy painted red so far, on uj and gu, that tells me I should be headed the correct direction. " be fearful when the masses are greedy, and be greedy when the masses are fearful.
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Im on the fence which one?
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  • #98
  • Nov 19, 2017 10:01pm Nov 19, 2017 10:01pm
as for gu, same boat. the 161.8 extension looks great, lines up with a common area of support. but it bounced off of the 141.4. could be over.
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  • #99
  • Nov 19, 2017 11:43pm Nov 19, 2017 11:43pm
Im going with option 2. good luck, its time for me to sleep.
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we might get another retest of 112. or somewhere just below there. but i think that the train has left.
  • #100
  • Nov 20, 2017 12:17am Nov 20, 2017 12:17am
GJ attempting to breakout again. Has to go above 148 for any chance for the bulls, bulls' first hurdle would be 148.19.
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