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  • #12,561
  • Jul 12, 2009 7:56pm Jul 12, 2009 7:56pm
Quoting LasVahGoose
What exactly is 'risk appetite' ?

Thank you.
Increased risk appetite means that traders are willing to take on more risk. They will move from the safety of treasuries back into the stock market. This is one factor that tends to help carry trades (yen crosses). I hope this helps.
Take care,
Dave
  • #12,562
  • Jul 12, 2009 9:49pm Jul 12, 2009 9:49pm
Quoting sunnytrader
the trade got triggered at 17:21 and stop hit at 17:22
OK, Sunny

The answer is that you stepped in front of a freight train. Look at that long red candle on any time frame that you choose and see the momentum. When this momentum enters the market, usually from some news or other fundemental event, technical levels are not well respected. Best to stand aside until the reaction from the event dissipates.

SR
  • #12,563
  • Jul 12, 2009 9:55pm Jul 12, 2009 9:55pm
Morning.

looks like cable is being squeezed.

looking for a clean break of the lower trend line to enter short.
Attached Image (click to enlarge)
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  • #12,564
  • Jul 12, 2009 10:27pm Jul 12, 2009 10:27pm
Thanx SR.

Now looking back at 8 th July i am trying to understand what happened at that time. I refer to fx360.com for the calendar of fundamental events. The last event i can see there is at 0130 GMT for AUD. But this big break of 93.50 support in USD/JPY started around 1700 (GMT + 1) . So what happened at that time?
Thanx for your patience. I hope i ll grow to a level where i can ask better questions in future. I have picked up a book called "Macroeconomics" by Dornbusch and Fischer for reading, i hope it will help me out.

Sunny.


Quoting seattlerust
OK, Sunny

The answer is that you stepped in front of a freight train. Look at that long red candle on any time frame that you choose and see the momentum. When this momentum enters the market, usually from some news or other fundemental event, technical levels are not well respected. Best to stand aside until the reaction from the event dissipates.

SR
  • #12,565
  • Jul 12, 2009 11:44pm Jul 12, 2009 11:44pm
EUR/USD, watching for a long opportunity at 1.3825 & 1.374-5.

http://i24.photobucket.com/albums/c2...rusdjuly13.jpg

USD/CHF, watching for a long bounce around 106.5-3.

http://i24.photobucket.com/albums/c2...sdchfjly13.jpg
  • #12,566
  • Jul 12, 2009 11:48pm Jul 12, 2009 11:48pm
Thanks sam! I will be watching both of those levels closely
  • #12,567
  • Jul 12, 2009 11:58pm Jul 12, 2009 11:58pm
Quote
This is one factor that tends to help carry trades (yen crosses). I hope this helps.
It helps the carry trades because the Yen is weaker? Which give more buying power to the base currency to buy Japanese goods?

Quoting davema
Increased risk appetite means that traders are willing to take on more risk. They will move from the safety of treasuries back into the stock market.
Take care,
Dave
Ah, treasuries to stocks. Got it.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #12,568
  • Jul 13, 2009 1:58am Jul 13, 2009 1:58am
Alright I am currently long in my gbpusd

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 31 KB
  • #12,569
  • Jul 13, 2009 4:58am Jul 13, 2009 4:58am
Aud/usd seems to have hit support, anyone thinking of going long ?
  • #12,570
  • Jul 13, 2009 5:16am Jul 13, 2009 5:16am
Quoting Shermenator
Alright I am currently long in my gbpusd

Attachment

Hi Shermenator,

Can you explain your reason for going long on GBP/USD so early. Thank you.

fxpilot
  • #12,571
  • Jul 13, 2009 5:29am Jul 13, 2009 5:29am
Quoting fxpilot
Hi Shermenator,

Can you explain your reason for going long on GBP/USD so early. Thank you.

fxpilot
Over / Under Pattern.

but, i think its not a good entry, because there is no confirmation.

first big support 1.6000-1.6010
  • #12,572
  • Jul 13, 2009 5:34am Jul 13, 2009 5:34am
Quoting fxpilot
Hi Shermenator,

Can you explain your reason for going long on GBP/USD so early. Thank you.

fxpilot
Its a location everyone will sell at...as well as we have a head and shoulders taking place...its also a chance of getting a reload to the trend in the daily...we are also at a key level of buyers...

I am still in my long I am letting my trade breath
  • #12,573
  • Jul 13, 2009 5:47am Jul 13, 2009 5:47am
Alright price are now starting to go higher

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 31 KB
  • #12,574
  • Jul 13, 2009 6:25am Jul 13, 2009 6:25am
Quoting Shermenator
Alright price are now starting to go higher

Attachment

Thanks for your explanation Shernemator. Very logical deduction. I was also bullish, but did not have enough confirmation from price action to take the trade. I guess that comes with experience. Happy trading!

fxpilot
  • #12,575
  • Jul 13, 2009 10:32am Jul 13, 2009 10:32am
Alright I am now up over 100 pips stop is now moved above break even

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 32 KB
  • #12,576
  • Jul 13, 2009 10:43am Jul 13, 2009 10:43am
Quoting Shermenator
Alright I am now up over 100 pips stop is now moved above break even

Attachment
Sherm,

What was your original stop on this trade? Thx.

SR
  • #12,577
  • Jul 13, 2009 10:45am Jul 13, 2009 10:45am
Quoting seattlerust
Sherm,

What was your original stop on this trade? Thx.

SR
about 80 -100 pips intially in this trade...since I was planing to hold this one for a longer term ....and still seeking a higer price in the market maybe 1.63...I will stay in the retracements or add to it depending on what I want to do...
  • #12,578
  • Jul 13, 2009 12:36pm Jul 13, 2009 12:36pm
Quoting Shermenator
about 80 -100 pips intially in this trade...since I was planing to hold this one for a longer term ....and still seeking a higer price in the market maybe 1.63...I will stay in the retracements or add to it depending on what I want to do...

Very nicely done.
Great entry and great management of the trade as well.
  • #12,579
  • Edited 2:33pm Jul 13, 2009 1:08pm | Edited 2:33pm
hello booker66 from england, great thread .. been following you guys for a couple of weeks with interest , ive read a lot of posts but missed a big chunk in the middle. does BRV still post ?..
i trade the daily chart mainly , have to work!.. using the s&r and fibbs.
i would like to contribute with some charts .. when i work out how to upload them , all the best..
  • #12,580
  • Jul 13, 2009 1:26pm Jul 13, 2009 1:26pm
Quoting booker66
hello booker66 from england, great thread .. been following you guys for a couple of weeks with interest , ive read a lot of posts but missed a big chunk in the middle. does BRV still post ?..
i trade the daily chart mainly , have to work!.. using the s&p and fibbs.
i would like to contribute with some charts .. when i work out how to upload them , all the best..
Welcome.

BRV has been posting but is most active in the chat room, located at the no brainer trades blog (link to chat: http://www.nobrainertrades.com/searc...rTrades%20Chat)

Let us know if you need a hand uploading charts...looking forward to checking 'em out.
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