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USD/TRY

  • #141
  • May 19, 2014 2:10am May 19, 2014 2:10am
Quoting Scotty B
{quote} Thanks for the liquidity. Hopefully this relationship can be a symbiotic one.
  • #142
  • May 19, 2014 2:13am May 19, 2014 2:13am
Thats the stop sweep...And hopefully the pin bar. Knew it'd show up soon. Now is the true test.
  • #143
  • Edited 6:08am May 19, 2014 2:14am | Edited 6:08am
Did reenter USDZAR short.

But what a spread spike for this time of day ( my broker only?) on USDTRY, 40 pips .
Attached Image (click to enlarge)
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  • #144
  • May 19, 2014 2:24am May 19, 2014 2:24am
Quoting Scotty B
Thats the stop sweep...And hopefully the pin bar. Knew it'd show up soon. Now is the true test.
So that was the stop sweep you are talking about Scotty the spread spike I mentioned.
  • #145
  • May 19, 2014 2:34am May 19, 2014 2:34am
The wide spread followed the stop hunt. Everyone cancels their orders to settle the market down. When the spread becomes 50 pips then you'd better be pretty damn sure which way you want to trade. Trading is much like children fighting over a toy. When it gets out of hand just take the toy away for a little bit then gently give it back. This train is now loaded, the whistle is blowing. Clear the tracks, full speed ahead.
  • #146
  • May 19, 2014 2:46am May 19, 2014 2:46am
Quoting Scotty B
Thats the stop sweep...And hopefully the pin bar. Knew it'd show up soon. Now is the true test.

Yep - and the offer got down to 2.0908 on my screen which was nicely under my limit order - pity I didn't take a screen shot showing that 50 pip spread.....
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Trading Levels with WRBs
  • #147
  • May 19, 2014 5:09am May 19, 2014 5:09am
Thanks again for starting this thread ScottyB, and everyone else for contributing. Thread kept me on the right side today

Got out here for 75 pips on USDTRY & 400 on USDZAR.

I posted this earlier but what do you guys think of the difference in Swap yield, for shorts? (EDIT) for EURTRY the pay looks a lot better imo, or am i mistaking here?
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  • #148
  • May 19, 2014 5:29am May 19, 2014 5:29am
Quoting jeffmichaels
Thanks again for starting this thread ScottyB, and everyone else for contributing. Thread kept me on the right side today Got out here for 75 pips on USDTRY & 400 on USDZAR. I posted this earlier but what do you guys think of the difference in Swap yield, for shorts? (EDIT) for EURTRY the pay looks a lot better imo, or am i mistaking here? {image}
Well done - I too took ID partials in that last spike up.....looking to buy back ~ the 38% retrace....

Personally, with an ADR ~200 pips I don't watch the swap - you might consider putting on a small sell in EurTry to see what swap youactually get....
Trading Levels with WRBs
  • #149
  • May 19, 2014 5:40am May 19, 2014 5:40am
Quoting Islander
{quote} Well done - I too took ID partials in that last spike up.....looking to buy back ~ the 38% retrace.... Personally, with an ADR ~200 pips I don't watch the swap - you might consider putting on a small sell in EurTry to see what swap youactually get....
Thanks, I had been taking partials on the way up to were i had gotten out too, 50 & 67 pips. All in all nice start to the week. I have calulated the swap already as to actual pay out. Now my base is EUR so the calculations show payout in euro, the red collumn is for 1 standard lot of the cross and the green collumn behind USDTRY is the yield for 100.000 EUR worth in this pair. SO same monetary value
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  • #150
  • May 19, 2014 8:17am May 19, 2014 8:17am
Quoting Islander
{quote} Well done - I too took ID partials in that last spike up.....looking to buy back ~ the 38% retrace.... Personally, with an ADR ~200 pips I don't watch the swap - you might consider putting on a small sell in EurTry to see what swap youactually get....
my limit order was filled at 11:35 and I just closed for ~+40 after price failed to break above this morning's high.......I'll wait to see if the NYSE open brings any activity, otherwise I'm finished for the day.....
Trading Levels with WRBs
  • #151
  • May 19, 2014 8:57am May 19, 2014 8:57am
so whats the anticipation for the 22nd? I was able to close a few long trades in the last week for solid profit.
  • #152
  • May 19, 2014 9:50am May 19, 2014 9:50am
I agree with Islander. This flag isn't breaking today. Probably won't happen until London tomorrow. I think that the lower channel line will catch this. If we can see a 150 pip move < 2.1, I think we see at least that above it. As we approach Thursday we'll be closer to 2.1 again. There will be plenty of stops above these current levels (volatility), the orders of those who are doing the old pre-news gamble. So I'll adjust my target down to 2.1150 for now.
  • #153
  • Edited 1:54am May 20, 2014 1:44am | Edited 1:54am
GM - another Frankies Hour stop sweep.....later, it missed my limit buy at 2.0960 by a pip, so I bought a few pips higher...

Now to see IF it breaks up out of this flag which is now ~10 pips above the BRN.....TWT
Attached Image
Trading Levels with WRBs
  • #154
  • Edited 4:19am May 20, 2014 4:00am | Edited 4:19am
Quoting Islander
GM - another Frankies Hour stop sweep.....later, it missed my limit buy at 2.0960 by a pip, so I bought a few pips higher... Now to see IF it breaks up out of this flag which is now ~10 pips above the BRN.....TWT {image}

and closed at my TP just below the 1100 BRN

Edit: and that finishes my morning.....I have put on a limit order to buy the retrace for another technical trade
Trading Levels with WRBs
  • #155
  • May 20, 2014 4:03am May 20, 2014 4:03am
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any bearish probability remaining?
no other killers to me but emotion
  • #156
  • May 20, 2014 6:46am May 20, 2014 6:46am
Quoting Islander
{quote} and closed at my TP just below the 1100 BRN Edit: and that finishes my morning.....I have put on a limit order to buy the retrace for another technical trade
Bought in 11:25 bar ~ 38% retrace.....
Trading Levels with WRBs
  • #157
  • May 20, 2014 6:52am May 20, 2014 6:52am
Still have 2.07 longs. waiting for 2.15
Twitter: @TrendersGame
  • #158
  • May 20, 2014 7:01am May 20, 2014 7:01am
Quoting Islander
{quote} Bought in 11:25 bar ~ 38% retrace.....

Edit: took partials in the 11:53 bar as price stalled under this morning's high, already ~ a 200 pip move = 5 ADR....
Trading Levels with WRBs
  • #159
  • May 20, 2014 7:08am May 20, 2014 7:08am
USDZAR making a very nice move as well....im dying inside about AUD though.


accidentally locked my self out of my apartment yesterday evening and didnt take short id been waiting for....
Twitter: @TrendersGame
  • #160
  • May 20, 2014 7:09am May 20, 2014 7:09am
Excellent work everyone. I'm working on getting short at the moment. The market will likely take the stops out above this last drive up. Then it'll go back to < 2.1 as we approach Thursday. I'd be surprised to see this driven up much more when the market is trading blindly. My short target will be 2.0950.

I'm looking for a pin bar that touches 2.115. Patience.
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