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  • #1,001
  • Edited 12:41am Feb 8, 2011 12:31am | Edited 12:41am
getting very dim for long usdchf...

the hourlies is becoming bearish... the worst I'd get is having to wait this crap out for another week or two...

seems like USD weakness on other pairs too..
  • #1,002
  • Feb 8, 2011 12:37am Feb 8, 2011 12:37am
Quoting BurgerKing
getting very dim for long usdchf...
the hourlies is becoming bearish... the worst I'd get is having to wait this crap out for another week or two...
Yep....9520 is my 'line in the sand' to exit my long
Doing what you like is Freedom. Liking what you do is Happiness.
  • #1,003
  • Feb 8, 2011 1:46am Feb 8, 2011 1:46am
I am out - cant wait...

Impatient to withdraw out of Alpari so I close this USDCHF position...
  • #1,004
  • Feb 8, 2011 1:59am Feb 8, 2011 1:59am
I am long at the bottom of this short term trend 9537
tp=9593
sl=9495
  • #1,005
  • Feb 8, 2011 3:20am Feb 8, 2011 3:20am
Quoting BurgerKing
I am out - cant wait...

Impatient to withdraw out of Alpari so I close this USDCHF position...
I think you are taking the right step. Concerning your broker. I know nothing about his practices, but taking into account number of their retail accounts, it is hard to expect that they should have some decent filling - and manners.

Concerning the swissy, I am long again from .09535 and again will leverage if it goes lower till .94. I am convinced that the future of swissy is above parity and have no problems with keeping position for a few days. Eventhough my broker too has negative swap for the pair...
  • #1,006
  • Feb 8, 2011 3:45am Feb 8, 2011 3:45am
Quoting JanPoko
...... Eventhough my broker too has negative swap for the pair...
My broker has a positive swap for buys on this pair, but a negative swap for sells......interesting the difference between brokers
Doing what you like is Freedom. Liking what you do is Happiness.
  • #1,007
  • Feb 8, 2011 5:16am Feb 8, 2011 5:16am
USD/chf still undecided ranging and consolidating, direction undecided!!!
I am still holding to my long even the price action indicating some short momentum.
  • #1,008
  • Feb 8, 2011 6:06am Feb 8, 2011 6:06am
Now that I am out, I think this pair will rise!

somehow, I have this LOUSY timing of closing at a dip...
Bad for me, but good for you all...
  • #1,009
  • Feb 8, 2011 6:08am Feb 8, 2011 6:08am
Quoting BurgerKing
Now that I am out, I think this pair will rise!

somehow, I have this LOUSY timing of closing at a dip...
Bad for me, but good for you all...
I came close man.....1 more pip south and I would have been out too!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #1,010
  • Feb 8, 2011 12:39pm Feb 8, 2011 12:39pm
Quoting BurgerKing
Now that I am out, I think this pair will rise!

somehow, I have this LOUSY timing of closing at a dip...
Bad for me, but good for you all...
now I know what was the problem!!!
you should have closed that trade long time ago
Thank you, thank you thank you.....
  • #1,011
  • Feb 8, 2011 3:40pm Feb 8, 2011 3:40pm
Quoting Abouelzelouf
now I know what was the problem!!!
you should have closed that trade long time ago
Thank you, thank you thank you.....
Like I said, me and my BAD TIMING! LOL! (I got stopped out at USDJPY @ 81.80 before it climbed up)

At least, I get to close the account and move on with a winning last trade.

Happy pipping folks! And till the next USDCHF trade folks (next week?)...
I have not traded USDCHF till DEC 2010 and with just a few weeks studying the chart, I made 3 very profitble trades already. Lesson I learn with USDCHF is patience (which worked 2x). The last one was no-patience thus I ended with a little profit.

Forex is a Patience Game - but only on selected pair (like USDCHF, USDJPY and to a certain degree USDCAD).
  • #1,012
  • Feb 8, 2011 8:03pm Feb 8, 2011 8:03pm
Quoting BurgerKing

Forex is a Patience Game - but only on selected pair (like USDCHF, USDJPY and to a certain degree USDCAD).
I shorted AU @ 1.0190 on friday. Then moved my SL to +5 pips. And it was hit yesterday.

Patience always hits my SL.
  • #1,013
  • Feb 8, 2011 9:01pm Feb 8, 2011 9:01pm
Quoting darksorrow
I shorted AU @ 1.0190 on friday. Then moved my SL to +5 pips. And it was hit yesterday.

Patience always hits my SL.
What Timeframe are you using?
I believe its good to use a TF where you can observe and trail your profits and maybe take a profit
if there is enough momentum created, so it doesn't turn on you..


  • #1,014
  • Feb 8, 2011 10:13pm Feb 8, 2011 10:13pm
My first post. Fairly new trader here.

One for the Ellioticians among you.

USD/CHF.

I'm going short on this as I believe it is topping out and rolling over.

Monthly chart - Elliott wave analysis shows this pair in the process of a thrust downwards from wave E of a contracting triangle. A 5th wave down.

Daily chart shows another triangle - a barrier triangle this time - with wave E having just made a "throw-over" today on ever decreasing volume. This signals another 5th wave (the 5th of the 5th and also a thrust of a thrust - where'z those smilies at?) about to begin.

Dimensions of both triangles agree on a downside target of around .8800 - that's about 800 pips from where we are now. That should mark the absolute bottom.

As far as Elliott Wave setups go - this one is about as textbook as I've seen that wasn't already in the textbook. I'm actually so confident that I'm selling into any strength and will probably cascade my trades in on the way down as I'm able to move stops down.

Fingers crossed,

Sandy
  • #1,015
  • Feb 8, 2011 11:12pm Feb 8, 2011 11:12pm
Quoting darksorrow
I shorted AU @ 1.0190 on friday. Then moved my SL to +5 pips. And it was hit yesterday.

Patience always hits my SL.
...and so you lost some money on swap. That's why BurgerKing wrote: "on some pairs". Leaving positive position in AUDUSD open over the weekened, what for?
  • #1,016
  • Feb 9, 2011 1:14am Feb 9, 2011 1:14am
USD/CHF
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  • #1,017
  • Feb 9, 2011 5:44am Feb 9, 2011 5:44am
There is a lot of resistance at this level between 0.9640 and 0.9665.
look at the daily charts. I believe we will get through hopefully still holding to my long.
  • #1,018
  • Feb 9, 2011 6:13am Feb 9, 2011 6:13am
Yep.

0.9654 is a resistance level and is holding the line for now. It is exactly the same level that my Weekly R1 is at.

I was LONG yesterday morning at around 0.9550. I made a note stating hold this for awhile, I thought it was a very excellent price to start a L position with. I made 30 pips but banked it way too soon. Even a profitable trade can be a bad one in retrospect.
  • #1,019
  • Feb 9, 2011 6:18am Feb 9, 2011 6:18am
hi guys.9603 is good target.
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  • #1,020
  • Feb 9, 2011 7:30am Feb 9, 2011 7:30am
I am still waiting and hoping when US open it will do as it did yesterday, resume the move UP . I don't see a short setup yet. there is strong resistance and support on both ways.
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