Exotics (USD/TRY, USD/ZAR, USD/MXN, and others) | Page 37 | Forex Factory

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Attachments: Exotics (USD/TRY, USD/ZAR, USD/MXN, and others)
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Exotics (USD/TRY, USD/ZAR, USD/MXN, and others)

  • #721
  • Sep 16, 2018 6:39am Sep 16, 2018 6:39am
Quoting Aussi
{quote} and we move on to the next trade
yup you're right, it's a bad habbit I'm having a hard time to get rid off, looking at the trades I closed... thanks for the reminder, I know I got to stop doing this
  • #722
  • Sep 16, 2018 3:17pm Sep 16, 2018 3:17pm
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  • #723
  • Edited 6:28pm Sep 16, 2018 5:33pm | Edited 6:28pm
Quoting MariaEduard
{quote} Any trading update on these exotic trading pairs? Thanks in advance.
USD INDEX & USDTRY & USDZAR

Usd Index: what I see from weekly chart is that USD Index is turning down.. last candle is quite bearish..but we have very nice pin up in daily chart which is bullish..and sep Fed rate meeting approaching..so, we may see some up movement but my overall bias is down in following weeks..until Sep Fed meeting there can be some up down, then weekly drop continue, i guess..

UsdTry: we are in a very strong monthly and weekly uptrend..but last week bearish candle in weekly chart suggests that some consolidation and bearishness may happen around 6.00-6.10 (even limited drop under 6.00)..but bullish scenario is more likely..CB made his very belated rate hike last week..it is a good relief but fundies are not good overall..my bias is up, maybe we will go slowly with small up-downs compared to last weeks' movements..daily chart suggests we may resume uptrend soon..but, probably a few more test of downs before going up..current levels are very good for medium&long term longs..I think, seeing new records is quite possible in this pair before year end..but I wont trade, I dont like holding more than a day..I m planning to focus majors..

UsdZar: we are in a very strong weekly uptrend..but last week bearish candle in weekly chart suggests that some consolidation and bearishness may happen under 15.00..on the other hand, daily chart suggests we may resume uptrend immediately because last daily candle close implies bullish continuation..maybe, it is better to wait a few more down test of price, if no seller interest more, then buy and hold..

Those are my humble opinions..

But I need to say that I'm planning to focus on majors and crosses in following weeks.. I wont trade Exotics for a while (I m not succesful in handling stress of Exotic trades as before(June was very profitable for me))..handling Exotics with leverage is not an easy job due to high volatility..so, I dont recommend any newbies in forex to trade Exotics if not familiar with special currency, better focus on majors and crosses first..but following price action might be useful in longer term..or can be traded without leverage/lesser leverage..

Best Wishes
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Click to Enlarge Name: UsdTry Weekly 17 sep.jpg Size: 349 KB
Click to Enlarge Name: UsdZar Weekly 17 sep.jpg Size: 381 KB
Click to Enlarge Name: USD Index Daily 17 sep.jpg Size: 389 KB
Click to Enlarge Name: UsdTry Daily 17 sep.jpg Size: 367 KB
Click to Enlarge Name: UsdZar Daily 17 sep.jpg Size: 392 KB
make your own analysis and decisions..just giving some perspective..
  • #724
  • Sep 16, 2018 6:07pm Sep 16, 2018 6:07pm
Quoting blackwinter
{quote} USD INDEX & USDTRY & USDZAR Usd Index: what I see from weekly chart is that USD Index is turning down.. last candle is quite bearish..but we have very nice pin up in daily chart which is bullish..and sep Fed rate meeting approaching..so, we may see some up movement but my overall bias is down in following weeks..until Sep Fed meeting there can be some up down, then weekly drop continue, i guess.. UsdTry: we are in a very strong monthly and weekly uptrend..but last week bearish candle in weekly chart suggests that some consolidation and bearishness...
wise advice for new traders
people leave, but this thread will go on for ever
  • #725
  • Edited 1:32pm Sep 17, 2018 1:19am | Edited 1:32pm
usdZAR sold 14.9610 600+
usdMXN sold 18.8600 Close b/e and Flipped, closed with short scalp


usdZAR sold 14.8870 close b/e
  • #726
  • Sep 17, 2018 3:14am Sep 17, 2018 3:14am
Still long from Fridays EURTRY entry 7.12, if there was a pattern in it atm. I'd call it a Pennant, but meh, more like waiting for NY open IMO. TP at 7.42 some profit locked in as long as spreads don't go all over the place

Quoting blackwinter
{quote} handling Exotics with leverage is not an easy job...
This is so true, been burnt with TRY some years back with high leverage, really need to get used to 1:30 EU law, so opened this is a small side account, at 1:30 no stress trading exotics, boring as hell for majors with the small balance slipped into it but exotics give a nice %.
  • #727
  • Sep 17, 2018 6:05pm Sep 17, 2018 6:05pm
USDTRY

"Lira weakens, bank shares fall after Isbank comments"

https://www.reuters.com/article/turk...-idUSL8N1W33XV
make your own analysis and decisions..just giving some perspective..
  • #728
  • Sep 18, 2018 12:15am Sep 18, 2018 12:15am
Quoting blackwinter
{quote} USD INDEX & USDTRY & USDZAR Usd Index: what I see from weekly chart is that USD Index is turning down.. last candle is quite bearish..but we have very nice pin up in daily chart which is bullish..and sep Fed rate meeting approaching..so, we may see some up movement but my overall bias is down in following weeks..until Sep Fed meeting there can be some up down, then weekly drop continue, i guess.. UsdTry: we are in a very strong monthly and weekly uptrend..but last week bearish candle in weekly chart suggests that some consolidation and bearishness...
Thanks a lot mate, for your long details reply! It’s really very much helpful.
  • #729
  • Sep 18, 2018 2:59am Sep 18, 2018 2:59am
I'm too emotional to trade today. Maybe tomorrow. Trade safe guys.


I sincerely hope the world can breathe a little easier in a couple years after we get these got dam monsters within our three letter agencies behind bars.

GOD BLESS THE WORLD !!!

HOOAH
  • #730
  • Sep 18, 2018 8:26pm Sep 18, 2018 8:26pm
USDZAR

Inflation rate data out today..

https://tradingeconomics.com/calendar
make your own analysis and decisions..just giving some perspective..
  • #731
  • Sep 18, 2018 9:30pm Sep 18, 2018 9:30pm
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  • #732
  • Edited Sep 19, 2018 1:05am Sep 18, 2018 9:42pm | Edited Sep 19, 2018 1:05am
usdZAR sold 14.8597
target 14.7575
edit; target removed

Update: Numbers are good overall? I think the dollar is going to drag it down further.
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  • #733
  • Sep 19, 2018 1:15am Sep 19, 2018 1:15am
usdZAR FYI I am NOT showing a bottom on the daily chart, yet.
Attached Image
  • #734
  • Sep 19, 2018 1:28am Sep 19, 2018 1:28am
Quoting 2dollardog
usdZAR FYI I am NOT showing a bottom on the daily chart, yet. {image}
people leave, but this thread will go on for ever
  • #735
  • Sep 19, 2018 11:52am Sep 19, 2018 11:52am
ZAR is in an interesting place right now viewed on H4.

I've identified a strong support zone which has been previously tested.

UZ is also approaching 200 EMA which could hold as an extra support to confirm a move to the upside.

I'll be monitoring closely before considering a buy position, and of course its also dependent on USD to confirm.
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Truth is like poetry. And most people f*cking hate poetry.
  • #736
  • Sep 19, 2018 12:42pm Sep 19, 2018 12:42pm
Done for the day.

it is beginning to reveal a bottom, but it is uncertain for a return or a continuance down. Will check tomorrow morning for entry.
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  • #737
  • Sep 19, 2018 1:11pm Sep 19, 2018 1:11pm
Quoting 2dollardog
Done for the day. it is beginning to reveal a bottom, but it is uncertain for a return or a continuance down. Will check tomorrow morning for entry. {image}
2dollardog , Ur point is 800 and my point now is 265 , ??? and today economic calendar that S A doing badly and yet Rand getting stronger , Is it because of weak dollar ,
  • #738
  • Sep 19, 2018 1:52pm Sep 19, 2018 1:52pm
Quoting Kissa
Still long from Fridays EURTRY entry 7.12, if there was a pattern in it atm. I'd call it a Pennant, but meh, more like waiting for NY open IMO. TP at 7.42.
That went good, took a few days and a week end,,,

You wont believe me if I told you I managed to short Theresa May today but i did, it was a accident but the exit was easy, actually missed the whole thing, entered earlier and it just flowed, so way done for the week, or actually 3 but lets see Monday, the rush is sure gone by then.
  • #739
  • Sep 19, 2018 2:38pm Sep 19, 2018 2:38pm
Quoting terminator12
{quote} 2dollardog , Ur point is 800 and my point now is 265 , ??? and today economic calendar that S A doing badly and yet Rand getting stronger , Is it because of weak dollar ,
Risk on sentiment returning. Trade tariffs have kept emerging markets and especially dollar denominated commodity economies soft for some time (due to dollar strength).
  • #740
  • Sep 19, 2018 3:35pm Sep 19, 2018 3:35pm
Quoting terminator12
{quote} 2dollardog , Ur point is 800 and my point now is 265 , ??? and today economic calendar that S A doing badly and yet Rand getting stronger , Is it because of weak dollar ,
Yeah, it's mostly on the dollar move. I'm not certain what is pushing the dollar down. The numbers released for inflation today on 2 counts were better than forecast. I think that gave the rand a little more strength which helped the move.

My spread should read 80.0 which is extremely narrow for this pair. At this moment it is moving between 205.0 and 308.0 ha
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