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  • #641
  • May 8, 2014 8:25am May 8, 2014 8:25am
EU tried to break major resistance but failed to do so and printed an H4 Bearish Pinbar, bears were waiting for the retest of the last high to short this market after Draghi's press conference on the Monthly Rate.
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  • #642
  • Edited 9:08am May 8, 2014 8:33am | Edited 9:08am
Quoting bassramy
And this is the Yen Trade Idea. I like the idea of selling the UJ on retest of broken Support. Confluence : - Retest of Support Turned Resistance. - 61.8 Fibo. - Overbought conditions on both CCI and RSI. {image}
Plan the trade and trade the plan, we should take in consideration that this is the bottom off the Channel so caution is required for any close above minor resistance.
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  • #643
  • May 8, 2014 8:35am May 8, 2014 8:35am
Quoting bassramy
And Long AUD if it works. {image}
And the AU also.
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  • #644
  • May 9, 2014 2:36am May 9, 2014 2:36am
Gee, thanks Bass
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  • #645
  • Edited 7:06am May 9, 2014 6:52am | Edited 7:06am
Quoting draugas2
Gee, thanks Bass {image}
Look @ it now, taking profit @ the end of the week and expecting retracement from here to minor resistance levels on a bounce from the Long term UTL, if the 377 'sh breaks i will be selling again even if its Friday, targeting the 367'sh floor.

Best,
B.R.
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  • #646
  • May 9, 2014 9:24am May 9, 2014 9:24am
Very good trade opportunities are out there now on the UCAD Shorts and UJ long which is building a base on support or consolidating before breaking out to the upside with 101.425 as the low of the range and 102 as the high, the break of the box will target 102.7'sh.

UCAD and after breaking a major support is now retesting the break with an H1 Bearish Pinbar printed exactly on support turn resistance, RSI and CCI are turning OB preparing the ground for a break Lower which if it will materialize will be a deep fall @ least to the 600'sh area.

Best,
B.R.
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  • #647
  • May 9, 2014 9:48am May 9, 2014 9:48am
Thanks Bass
Your advice helps me
I'm glad that I found you
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  • #648
  • Edited 3:41am May 10, 2014 3:17am | Edited 3:41am
Come on and laugh with me on this AN Chart, notice the spread during the weekend of my FXCM Account, if u have a 30 pips stop loss above the last swing resistance u will be taking out of your short trade even thought PA Being rejected from resistance twice and it seems that its building a double top.
The other chart is from my other broker which is MBT showing 17 Pips spread which is better than the first but still unacceptable.

I'm just laughing, that's all.

Have a good weekend.
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  • #649
  • May 10, 2014 3:39am May 10, 2014 3:39am
Quoting draugas2
Thanks Bass Your advice helps me I'm glad that I found you {image}
After this break i think that the Cable is due to a retracement so be careful, i didn't open any position in this pair because my margin is tied up in other more profitable trades and i don't like to use more than 50% of my usable margin, anyway this reversal was long expected on resistance but the cable is showing a lot of strength both technically and fundamentally so watch out from a bear trap.

Best,
B.R.
Master Your Setup, Master Your self. (NQoos)
  • #650
  • Edited 4:38am May 10, 2014 3:53am | Edited 4:38am
Finally people are starting to take Draghi's comments about a strong Euro seriously.

Following the ECB’s quasi-commitment to ease policy next month, the market was pricing in around 13bp of rate cuts in coming months, close to our own forecast of a 10bp cut in the Refi rate at least in June. Term money market rates such as the 1Y1Y Eonia have fallen back to year lows, although overnight rates have remained sticky amid lower excess liquidity. Importantly, the EUR has failed to rebound from Thursday’s drop, perhaps reflecting growing expectations of a negative deposit rate. We believe that the prospects for such a move will indeed hinge upon developments in the FX market in the next few weeks. Next week, the quarterly Survey of Professional Forecasters (15 May) will provide the ECB with crucial information with respect to long-term inflation expectations in particular.

Just be aware of the next week data it seems like it will be better than expected so it will likely drive the correction higher.
Master Your Setup, Master Your self. (NQoos)
  • #651
  • May 12, 2014 7:57am May 12, 2014 7:57am
Gold, the 1277.6 Rocks, Quadruple rejection of that heavily defended support level including 3 Huge H4 Pinbars.
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  • #652
  • May 12, 2014 8:07am May 12, 2014 8:07am
UCAD Rejected from that support level on the H1, is it the beginning of an H&S in the making ?, also note the Symmetrical triangle that is shaping up, RSI and CCI are OB which favors a bear H1 Correction, which is in line with that Daily support break move and retest, " N., Now u know why i was forecasting a reversal" .
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  • #653
  • Edited 8:30am May 12, 2014 8:13am | Edited 8:30am
I'm placing also a Multiple EU sell limit order waiting for a Retest and a rejection after the support break on that Pair.
The UJ Trade is going also as planned and posted last week but the lack of News events risk today Monday (Thus lack of volatility) is making these pairs treading water.
Of course the UCHF is doing the opposite of the EU also after break of resistance and retest today of the Resistance and rejection is making a new high.
It looks like the Engulfing Daily candle on the UCAD is going to materialize after the rejection of that Short term support and the break of the last major support will be another outlier, anyway its to early to see we will have to wait for a close tonight or tomorrow.

Best,
B.R.
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  • #654
  • Edited May 13, 2014 8:07am May 12, 2014 8:38am | Edited May 13, 2014 8:07am
NU Trying to break minor resistance, tightening my stops and switching to the H4 in search for a long signal .
NU Long Update.
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  • #655
  • May 13, 2014 2:22pm May 13, 2014 2:22pm
Quoting bassramy
Come on and laugh with me on this AN Chart, notice the spread during the weekend of my FXCM Account, if u have a 30 pips stop loss above the last swing resistance u will be taking out of your short trade even thought PA Being rejected from resistance twice and it seems that its building a double top. The other chart is from my other broker which is MBT showing 17 Pips spread which is better than the first but still unacceptable. I'm just laughing, that's all. Have a good weekend. {image} {image}
Hi Bassramy,

Any weekend prices you see on your FXCM platform are indicative rates, not executable. That means your stop loss can't be triggered by these quotes, even if the liquidity providers widen their spreads over the weekend. Your orders will only be executed on prices quoted during trading hours between 5pm Sunday and 5pm Friday New York time.

However, if you're still concerned about wide spreads triggering your stops, I have a solution for you. Specifically there are two custom order types available for FXCM's Trading Station platform called "Bid-Triggered Buy" and "Ask-Triggered Sell" http://www.forexfactory.com/showthre...78#post7351778

If you use them instead of traditional stop loss orders, then you never have to worry about being stopped out due to spread widening.
  • #656
  • May 14, 2014 3:26am May 14, 2014 3:26am
Quoting Jason Rogers
{quote} Hi Bassramy, Any weekend prices you see on your FXCM platform are indicative rates, not executable. That means your stop loss can't be triggered by these quotes, even if the liquidity providers widen their spreads over the weekend. Your orders will only be executed on prices quoted during trading hours between 5pm Sunday and 5pm Friday New York time. However, if you're still concerned about wide spreads triggering your stops, I have a solution for you. Specifically there are two custom order types available for FXCM's Trading Station platform...
Thank you for your post, this is the kind of customer service and follow up that we are used to have from an elite broker.

The problem is that i did had several Positions closed out by triggering my stop loss ( Spread widening ) @ the closing of and after market hours on my live account and i have the snapshot and the Account statement to prove it, i did filled a complaint to my broker (you) which is being processed as we post.

Any help is much appreciated from your end using a private pm.

Best regards,
B.R.
Master Your Setup, Master Your self. (NQoos)
  • #657
  • May 14, 2014 2:41pm May 14, 2014 2:41pm
Quoting bassramy
Thank you for your post, this is the kind of customer service and follow up that we are used to have from an elite broker.
Hi Bassramy, as you requested, I've sent you a PM with more details so we can follow up.
  • #658
  • May 15, 2014 6:10am May 15, 2014 6:10am
Some trade ideas coming today on the EU, GU, UCHF, UCAD and AN.

EU broke support so we will be looking to sell after the retest.
GU also broke support also we will be looking to sell the retest.
UCHF done it the opposite way of the EU of course, broke resistance and retesting it as i post.
I Have a nice little retest of a major broken support level with the trend that is taken place right now on the UCAD.
AN, and after consolidating and making a big range these last 5-6 days, finally breakdown today and currently retesting this break.

Important news events are released in 1 hour @ 12.30 GMT so it will be wise to wait before diving in.

Here are some charts to get you going.

Best,
B.R.
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  • #659
  • Edited 10:21am May 19, 2014 9:51am | Edited 10:21am
Building base, head and shoulders, or shall we call it ascending triangle, call it what u want but the EU is trying to break up only to be rejected by the infamous 3730 level, this is the 4th time.
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  • #660
  • May 22, 2014 12:20pm May 22, 2014 12:20pm
2 Bullish Pinbars on support and then a Bearish inside bar that closes under support, come on guys is this your game plan.

The big boys are preparing the ground for another crazy Friday, the EU couldn't recover today, every bullish move was undermined with a massive selling orders which kept the EU Grounded, i don't have a crystal ball but it looks like tomorrow will be the day the EU breaks his support and the next stop is 3475, so get ready for another Friday chop .

Meanwhile, have a good night, signing off with the London close.

Regards,
B.R.
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