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Help needed in OANDA + users from Malaysia 105 replies

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  • #10,701
  • Apr 17, 2008 9:36pm Apr 17, 2008 9:36pm
whats good is..rumour doesn't last long. sit tight.

hopefully today massive profit taking in equities (nikkei, djia) will happen.. bring down carries..
  • #10,702
  • Apr 17, 2008 9:40pm Apr 17, 2008 9:40pm
Already Clear BREAKOUT of the H4 DownTrend Channel... Retracement is due soon... before Cable can shoot up higher Could be down to the H4 Channel RBS (Resistance Become Support). However, the BULL power still very strong... can be just a minor retracement takes place and then shoot up to 2.0000 area.

Might be placing PO BUY LIMIT at 50% Fibbo if the retracement looks strong... and catch a few pips from the Bounce.

T.A.Y.O.R.
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  • #10,703
  • Apr 17, 2008 9:42pm Apr 17, 2008 9:42pm
Quoting arinforex
whats good is..rumour doesn't last long. sit tight.

hopefully today massive profit taking in equities (nikkei, djia) will happen.. bring down carries..
Heard the saying... "BUY THE RUMOR.... SELL THE NEWS".... and vice versa.
  • #10,704
  • Apr 17, 2008 9:45pm Apr 17, 2008 9:45pm
Quoting Malaysia
Heard the saying... "BUY THE RUMOR.... SELL THE NEWS".... and vice versa.
Assalam Brother, I am from GBP/USD thread, I would like to know is it good time to do long and enter at 1.980'ss area to play long as I heard that the GBP might be bullish for Friday. I am Alqaz Syed from TX, USA

Thanks for your time.
  • #10,705
  • Apr 17, 2008 9:46pm Apr 17, 2008 9:46pm
have to remember market physchology.. yesterday allmost 80% shorts covered, when bulls goes rampage.

today is friday, expecting mass market will closed longs for profit takings.. retracement is due.

anyway, trade what we see, not what we expect/think.
  • #10,706
  • Apr 17, 2008 9:47pm Apr 17, 2008 9:47pm
Quoting asyed4
Assalam Brother, I am from GBP/USD thread, I would like to know is it good time to do long and enter at 1.980'ss area to play long as I heard that the GBP might be bullish for Friday. I am Alqaz Syed from TX, USA

Thanks for your time.
Ooops I would say 1.9880'shhhh area. Thanks,
  • #10,707
  • Apr 17, 2008 9:55pm Apr 17, 2008 9:55pm
Quoting asyed4
Assalam Brother, I am from GBP/USD thread, I would like to know is it good time to do long and enter at 1.980'ss area to play long as I heard that the GBP might be bullish for Friday. I am Alqaz Syed from TX, USA

Thanks for your time.
Wa'alaikumsalam.... Yep... From Technical and Fundamental point of view at this moment with the rumors... Cable can shoot up again. Best Strategy... BUY FROM DIP (so far) ... Unless 50% or 61.8% Fibbo Retracement is broken. Expecting some Retracement before Cable can Break the current HIGH.

However... this is FRIDAY... Profit Taking Day... Make decision wisely.
  • #10,708
  • Apr 17, 2008 10:03pm Apr 17, 2008 10:03pm
Quoting Malaysia
Wa'alaikumsalam.... Yep... From Technical and Fundamental point of view at this moment with the rumors... Cable can shoot up again. Best Strategy... BUY FROM DIP (so far) ... Unless 50% or 61.8% Fibbo Retracement is broken. Expecting some Retracement before Cable can Break the current HIGH.

However... this is FRIDAY... Profit Taking Day... Make decision wisely.
At last GU, GJ and GCHF went my way. for GU possible reentry at 1.9840-50 and GU is still a long trade. Trade wisely.

For GJ its a different story
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  • #10,709
  • Apr 17, 2008 10:05pm Apr 17, 2008 10:05pm
Quoting Malaysia
Wa'alaikumsalam.... Yep... From Technical and Fundamental point of view at this moment with the rumors... Cable can shoot up again. Best Strategy... BUY FROM DIP (so far) ... Unless 50% or 61.8% Fibbo Retracement is broken. Expecting some Retracement before Cable can Break the current HIGH.

However... this is FRIDAY... Profit Taking Day... Make decision wisely.
Thanks Bro!!! you are right this is Friday - Mubarak Day - May Allah help us to make the decision wisely and with success. I took long at 1.9889, SL:1.9835 and PT:1.9670.

I am very careful so I will not set my PT too high.

Thanks again.
Take Care.
Alqaz Syed.
  • #10,710
  • Apr 17, 2008 10:07pm Apr 17, 2008 10:07pm
Quoting asyed4
Thanks Bro!!! you are right this is Friday - Mubarak Day - May Allah help us to make the decision wisely and with success. I took long at 1.9889, SL:1.9835 and PT:1.9670.

I am very careful so I will not set my PT too high.

Thanks again.
Take Care.
Alqaz Syed.
Ooops I mean PT: 1.9970
  • #10,711
  • Apr 17, 2008 10:12pm Apr 17, 2008 10:12pm
Quoting greengo
At last GU, GJ and GCHF went my way. for GU possible reentry at 1.9840-50 and GU is still a long trade. Trade wisely.

For GJ its a different story
Yeah... Cable drop down 200pips when the last time you said it was supposed to shoot up : Anyway... this is the reality of Forex Business. The Timing is IMPORTANT. And Cable shoot up not because of the Balancing... it was from the rumors. Panic attack... massive SELL off at EurGbp. Pound Sterling outperform all majors Currencies... now IMBALANCE.

Like I said... I'll review back my analysis IF the H4 Downtrend Channel is broken. It Broke last night.
  • #10,712
  • Apr 17, 2008 10:15pm Apr 17, 2008 10:15pm
Quoting vijayshantid
Whether you are trading a standard or a mini account, as you are still new and just starting, stay away from gbp/jpy. To trade gbp/jpy you need a sizeable amount of liquidity and it can wipe out accounts in 30 seconds and many traders believe they can make a huge amount of money from gbp/jpy but sadly the reverse is very true often. .... Also remember to hols gbp/jpy is not an easy thing as the premium is rather very high. The best way to trade gbp/jpy is not trading it everyday. but be patient and follow it when it reaches rock bottom and bottoms out ....
Agreed!
  • #10,713
  • Apr 17, 2008 10:21pm Apr 17, 2008 10:21pm
REPOST

Sydney, April 18: The GBP/USD has risen dramatically in the past 24 hours after it was reported that the BOE might announce a bail-out plan for embattled mortgage sector as early as next week. The news convinced massive short GBP positions against a host of currencies to bail out with the EUR/GBP crashing over 100 pips.
The GBP/USD broke above steep trend-line resistance around 1.9850 and hasn"t looked back. The move higher also took out the 38.2 fibo of the 2.0400/1.9600 move at 1.9905. Key resistance is found at last week"s high at 1.9955, as a break above that level would end a four week sequence of lower weekly highs and a close above that level would result in a key outside week reversal higher. Hourly support has formed at 1.9885 and a break below that level could see a gap filled towards 1.9820. The GBP/USD trades 1.9892/97. [email protected]

英镑兑美元：空头回补后暂时守稳

英镑/美元过去24小时内大幅上扬，受英央行可能最早于下周宣布一项针对信贷部门的救援计划的传言支持。该传言引发英镑兑许多货币的空头平仓盘，其中欧元 /英镑下跌超过100点。英镑/美元上破趋势线阻力1.9850，并越过2.0400-1.9600跌势的38.2%菲波1.9905。关键阻力在上周高 点1.9955，若上破，将终结连续四周周图高点下滑态势，若收市于其上，将形成关键周反转。小时图支持在1.9885，若跌破，可能朝1.9820下 行。英镑/美元现报1.9890/93。
  • #10,714
  • Apr 17, 2008 10:28pm Apr 17, 2008 10:28pm
I said I am gonna review back my ANALYSIS... Here it is. On the Daily Chart... Cable already Broke the DownTrend Channel last night. This is forcing me to change my TECHNICAL view to BIAS on the BULL. Entry strategy should change from SFB to BFD. Unless... Cable fall back inside the Channel.

We will see in days ahead, whether this is valid or false trend line break out caused by temporarily market sentiment as a reaction to BOE plan. IF the daily CS fall back down inside the Channel... I would say the DOWNTREND Channel still valid because I'll consider the Long Bullish CS yesterday was a FALSE breakout

Just my analysis... nothing certain yet.
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  • #10,715
  • Apr 17, 2008 10:29pm Apr 17, 2008 10:29pm
hello Sham,wakli, & to all fellow traders....like you all said, today it's Friday = Profit Taking Day....i also want some profit mah!!!
  • #10,716
  • Apr 17, 2008 10:39pm Apr 17, 2008 10:39pm
most probably today -ve -ve to nikkei target -150 points. down with geppy. just gbp dont surge ... hehe
  • #10,717
  • Apr 17, 2008 11:06pm Apr 17, 2008 11:06pm


greetings everyone!

bit busy today!only manage to look at charts now.

I see that on Daily TF, bear candle is still below yesterday high (bullish engulfing); however Tf H4 already show sign of reversal of going down.any possibility of a slight retracement to the 203.10shhh level before going up again?(daily pivot 202.90)

most on the previous thread mentioned about friday is profit taking day.
does this phenomenon occur each time, fridays in particular? is this natural occurence?

hope otai-otai can shed some light on this.
  • #10,718
  • Apr 17, 2008 11:10pm Apr 17, 2008 11:10pm
reference to last post.
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  • #10,719
  • Apr 17, 2008 11:12pm Apr 17, 2008 11:12pm
Quoting thirdeye76


greetings everyone!

bit busy today!only manage to look at charts now.

I see that on Daily TF, bear candle is still below yesterday high (bullish engulfing); however Tf H4 already show sign of reversal of going down.any possibility of a slight retracement to the 203.10shhh level before going up again?(daily pivot 202.90)

most on the previous thread mentioned about friday is profit taking day.
does this phenomenon occur each time, fridays in particular? is this natural occurence?

hope otai-otai can shed some light on this.
Yep... Friday is a Profit Taking day for those don't wanna let the Positions floating over the weekends. Lots of things can happen within the 2 days and can make the Monday opening Chaos.

Normally on Friday... market can be more IRRATIONAL... because of the massive Closing Trades take place. On top of that... NFP always on Friday (not today). NFP plus Friday >>> I don't trade.

p/s: Cook... Eat... take shower... going to FRIDAY PRAYER. See you guys later
  • #10,720
  • Apr 17, 2008 11:23pm Apr 17, 2008 11:23pm
Quoting abanglong
no hedge means ur trading always on winning trail. care to share with us ur secret? http://www.forexfactory.com/images/icons/icon14.gif

this morning entry:

Pair: EU/CH. Sell @ 1.5999. TP @ 1.5942. SL @ 1.6020.
TAYOR!!
No la bro....tried hedging before but i think its not for me....As for my trading,not always on winning trail but tried to make sure I minimize the loss...I always put sl no matter what....Also money management...Anyway still learning bro....
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