Spot FX Day Trader's Thread | Page 61 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How many pips is reasonable per day for a day trader 33 replies

Spot Forex vs CFD Forex: Are we really trading Spot? 11 replies

HSBC trader found guilty of front running the spot fx market 10 replies

Spot Forex Day Trader's Thread 2 replies

Spot-trader: An MT4 ECN broker? 40 replies

Attachments: Spot FX Day Trader's Thread
Exit Attachments

Spot FX Day Trader's Thread

  • #1,201
  • May 18, 2010 2:25pm May 18, 2010 2:25pm
Quoting Pippy5000
thank god for tight stops

eeek.. short-selling ban not going over too well
Have you checked Euro's monthly chart recently? Next re-test seems to be in the 1.16s
Prices oscillate, trends persist. Trend is your friend.
  • #1,202
  • May 18, 2010 2:30pm May 18, 2010 2:30pm
I still see stocks selling off in a massive way, S&P to 500 level, USD through the roof (for the time being).
Prices oscillate, trends persist. Trend is your friend.
  • #1,203
  • May 18, 2010 2:30pm May 18, 2010 2:30pm
that bounce was pretty damn obnoxious.. could be due to bargain hunting in the equity arena, or due to the projected EUR/USD wave count which ends at 1.215 i.e. fresh long and profit taking.
  • #1,204
  • May 18, 2010 2:33pm May 18, 2010 2:33pm
Quote
Have you checked Euro's monthly chart recently? Next re-test seems to be in the 1.16s

I go long and short on EU 5 - 10 times per day.. I generally use the 5m charts except when I'm leaving a trade overnight, then I look at the 1hr and 4hr charts.. I drink too much red bull to look at the monthly charts
  • #1,205
  • May 18, 2010 3:04pm May 18, 2010 3:04pm
I took nice scalp eu from 1.2170 and au 0.8630.
  • #1,206
  • May 18, 2010 3:17pm May 18, 2010 3:17pm
ok.. I'm in EU short 1.221 s/l 1.2245 .. I'll be watching 1.215 for a bounce on the tick charts and will cover if I see signs of large orders or profit taking which would prevent further downside.
  • #1,207
  • May 18, 2010 3:23pm May 18, 2010 3:23pm
nice Tuky.. that's good.
  • #1,208
  • May 18, 2010 4:31pm May 18, 2010 4:31pm
banking 47 .. this is too easy.. tick chart went BOOM.

I'm putting a sell stop below the lows in case the move continues.
  • #1,209
  • May 18, 2010 4:42pm May 18, 2010 4:42pm
Quoting Pippy5000
I go long and short on EU 5 - 10 times per day.. I generally use the 5m charts except when I'm leaving a trade overnight, then I look at the 1hr and 4hr charts.. I drink too much red bull to look at the monthly charts
Comprende amigo. You're into market timing, I am not so much into it now. I am more interested in likelihood vs unlikelihood of a level re-test. Good trading!
Prices oscillate, trends persist. Trend is your friend.
  • #1,210
  • May 18, 2010 5:18pm May 18, 2010 5:18pm
well, here's something on the GJ weeklies.. a big trade opp. weekly TL test pending
Attached Image
  • #1,211
  • May 18, 2010 5:24pm May 18, 2010 5:24pm
How about A/U? Treble flat top on weekly, 50% fibs ~900 pips away from current weekly support where price rests for now.
Prices oscillate, trends persist. Trend is your friend.
  • #1,212
  • May 18, 2010 5:31pm May 18, 2010 5:31pm
It has held up nicely compared to other non- USD or JPY pairs. Australia vs. the world? I doubt it.. Will probably catch up..

I think I'm going to play the TL in GJ.. the reward vs. risk is utterly monstrous.. I drew the TL a little wobbly but I think it comes in about 131.3 ..
  • #1,213
  • May 18, 2010 5:35pm May 18, 2010 5:35pm
duh.. it already tested it.. yes, it's at 131.3 ..

My order is 131.36 s/l 131.16
  • #1,214
  • May 18, 2010 5:39pm May 18, 2010 5:39pm
WHOA.. that was quick.. I'm filled
  • #1,215
  • May 18, 2010 5:56pm May 18, 2010 5:56pm
Quoting Pippy5000
It has held up nicely compared to other non- USD or JPY pairs. Australia vs. the world? I doubt it.. Will probably catch up..

I think I'm going to play the TL in GJ.. the reward vs. risk is utterly monstrous.. I drew the TL a little wobbly but I think it comes in about 131.3 ..
131.08 is hourly support, likely re-test IMO
Prices oscillate, trends persist. Trend is your friend.
  • #1,216
  • May 18, 2010 6:22pm May 18, 2010 6:22pm
I would say so as well, but it's an issue of 30X the reward vs. the risk.. either it holds or it doesn't.. I'm not expecting it to.
  • #1,217
  • May 18, 2010 6:46pm May 18, 2010 6:46pm
This is killing me.. I'm up 30 and somehow not taking profit.. LT trades are definitely not my milieu!!
  • #1,218
  • May 18, 2010 6:48pm May 18, 2010 6:48pm
I like your GBPJPY chart.

I wouldn't be surprised to see EURUSD have a rest here.
1. EUR bearish sentiment is at an all time extreme
2. The all-time low at 0.8228 in October 2000 and the all time high is at 1.6040 in July 2008 so that means the 50fib is at 1.2140
3. The 1.618 fib extension of the last swing is around 1.2165
  • #1,219
  • May 18, 2010 6:54pm May 18, 2010 6:54pm
thanks EJ... I didn't know about the fib. It's also the wave projection.. 1.215..

My GJ trade has collapsed on me.. 2 pips underwater now.. grrrrrrrrrrrr.
  • #1,220
  • May 18, 2010 6:55pm May 18, 2010 6:55pm
When I used to trade intraday I used to try to ascertain where strength & weakness was. The downside to your current trade is that monthly bar is now trading below 2010 Q1 Lo. That is a problem for longs in that pair. I know you were looking at a lucrative r:r.
Prices oscillate, trends persist. Trend is your friend.
1 trader viewing now