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  • #61
  • May 8, 2014 5:11am May 8, 2014 5:11am
Quoting Islander
{quote} Agreed - the bounce only got to the .236 retracement of yesterday's range before the London traders started selling and I closed for a few and later went short. Now price has got down to the first fib expansion on good volume and is having a bounce. My second fib expansion is at 2.0682 which is at that daily 50% retrace that you mentioned - it would also make todays range 160 pips which is the 20 day ADR, so a good target for today.......TWT Edit: An hour later and there was a small pop down to the MS2 level with positive TVI divergence...
Yeah i got out on the bounce too, probably should have just held, but wanted to lock in some profits, and it took off rather hard, also on USDZAR, as they run pretty hard i figured can always get back in later after lunch.
  • #62
  • May 8, 2014 6:57am May 8, 2014 6:57am
[quote=jeffmichaels;7455795]{quote} Yeah i got out on the bounce too, probably should have just held, but wanted to lock in some profits, and it took off rather hard, also on USDZAR, as they run pretty hard i figured can always get back in later after

lI sold the 50% retrace of today's range....that fib has its first expansion at 2.0662 .....TWT
Trading Levels with WRBs
  • #63
  • May 8, 2014 8:36am May 8, 2014 8:36am
USD/TRY
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  • #64
  • May 8, 2014 8:57am May 8, 2014 8:57am
Quoting Gokay
USD/TRY {image}
A nice day indeed
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  • #65
  • May 8, 2014 9:04am May 8, 2014 9:04am
Quoting jeffmichaels
{quote} A nice day indeed {image}
And USDZAR, the other "carry"
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  • #66
  • May 8, 2014 9:30pm May 8, 2014 9:30pm
Attached Image


could anyone tell me why the spread in my trading platform was exaggerated?
and what about the 'positive slippage 'means?
thanks.
no other killers to me but emotion
  • #67
  • May 8, 2014 11:23pm May 8, 2014 11:23pm
Lack of liquidity? Wasted, I actually had a nice win, went back to a nap and when I wake up the win is exactly reverse!
  • #68
  • May 9, 2014 12:53am May 9, 2014 12:53am
Quoting Mr Mao
{image} could anyone tell me why the spread in my trading platform was exaggerated? and what about the 'positive slippage 'means? thanks.

without more information no, I can not comment......however, UsdTry IS a very volatile contract and at the end of an intra day swing, I often see my spread open from ~8 pips to ~say 28 pips as a spike high / low. Also, out of European trading hours there is very little trading and thus you will get much wider spreads.

Slippage is when you hit your trade key at a price and you get filled at a different price, usually worse which is negative slippage.....I guess sometimes your fill is at a better price and that would be positive slippage....
Trading Levels with WRBs
  • #69
  • May 9, 2014 3:56am May 9, 2014 3:56am
Hey everybody. Been on the sidelines all week just watching. Every flag this week has been broken and sold off pretty cleanly. This past hour saw a rejection of another sell-off. I still believe 2.1 is where this should be trading. I've opened a small long position in the last 20 minutes just to test the waters at this level. Good pips to all.
  • #70
  • May 9, 2014 4:06am May 9, 2014 4:06am
For me I would be cautious, Turkey economy is about 4% growth whereas USA is still on weed and QE. Well the turks does have enough of political instability but economic wise, I normally short when I can, also because the rollover for Long is quite a huge minus.
  • #71
  • May 9, 2014 10:59am May 9, 2014 10:59am
So the big question is, will the market sell off the upper TL of the channel that's kept this short all week? My stop is still intact but maybe not for long. The market may take this beast down to 2.05 afterall. We'll see. Have a great weekend everybody.
  • #72
  • May 9, 2014 3:03pm May 9, 2014 3:03pm
Turkish prime minister tayip erdoğan, wants "Central Bank of the Republic of Turkey" to reduce insterest rates. and I hear on the news, on tv, forexample on bloomberght türkiye tv, experts say 2,05 can be deep for usd/try.they can be wrong I dont know.
turkish lira can be dangerous. I dont know whether you're long term trader or scalper on 1h chart, I wanted to share this news.
  • #73
  • May 9, 2014 3:09pm May 9, 2014 3:09pm
They also stated THEY WILL NOT reduce rates anytime soon. "turkey central banker" ruled this out as an option.
  • #74
  • May 9, 2014 3:52pm May 9, 2014 3:52pm
Quoting Rizmeister
They also stated THEY WILL NOT reduce rates anytime soon. "turkey central banker" ruled this out as an option.
you should not believe what turkish central banker says.. I remember like yesterday. Date was August 2013, usd/try was 2,07.. Erdem başçı (current Governor of the Central bank of the turkey ) told "we will protect turkish lira like lions". he even gave target. he told "dont be amazed if you see 1,92 levels at usd/try"

here is the news..

http://www.cnbce.com/haberler/ekonom...bi-koruyacagiz

then what happaned? usd/try went to 1,93 firstly and then?? suddenly to 2,4... with % 12 interest rates, turkish lira will be like years before...

http://www.fatlak.com/wp-content/upl...-eski-para.jpg
  • #75
  • May 9, 2014 4:05pm May 9, 2014 4:05pm
I know my friend is from there and she said it changes at a whim. ehhehe (she told me it was risky trading this hahaha)
  • #76
  • May 9, 2014 5:03pm May 9, 2014 5:03pm
Whats the average pip movement/range on a day with this pair? I have never traded it. Seems decent. High spread.
  • #77
  • May 11, 2014 10:49am May 11, 2014 10:49am
Quote from CitiFX strategy:

Attached Image


Link to article : http://www.forexlive.com/blog/2014/0...4/#more-335285
  • #78
  • May 12, 2014 8:50am May 12, 2014 8:50am
Deutsche Bank today year-end USD / TL raised its forecast. Goldman Sachs estimated 2:50 insists.
A close above this level, the positive air tl eliminated altogether, it may require some time to be cautious.
  • #79
  • May 12, 2014 5:17pm May 12, 2014 5:17pm
I think she needs to come down to 2.05. That would be lovely.
  • #80
  • May 13, 2014 3:06am May 13, 2014 3:06am
pend a sell stop order @2.065X with a target @2.000
no other killers to me but emotion
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