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  • #221
  • May 26, 2014 12:10pm May 26, 2014 12:10pm
Quoting JeremyWS
technicals don't work on an irrational EM currency. just don't even bother.
Hi from Turkey...=)))) This is absolutly true.. This summer expectation is going to to down till 2.04...
  • #222
  • May 26, 2014 6:34pm May 26, 2014 6:34pm
I think I'm the only bull around here. Now that the Americans are sobering up after their three day weekend, I'll be looking to get long when the stops below 2.08 are taken out. My first target for the week will be 2.1. Have a good week everyone.
  • #223
  • Edited 2:03am May 27, 2014 1:49am | Edited 2:03am
Quoting fxAnubisfx
{quote} Hi from Turkey...=)))) This is absolutly true.. This summer expectation is going to to down till 2.04...


Congratulations on your first post in FF.....you have managed to rubbish much of what goes on in this thread and told us that the September 2013 high (also a fibonacci expnsion on my hourly chart) is a potential downside target......offering no reasoning whatsoever......most helpful......so I also guess that my 40+ pips in FH from buying today's MR1 level and exiting at the MR2 are absolutly not true ......WTG
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  • #224
  • May 27, 2014 1:56am May 27, 2014 1:56am
Quoting Scotty B
I think I'm the only bull around here. Now that the Americans are sobering up after their three day weekend, I'll be looking to get long when the stops below 2.08 are taken out. My first target for the week will be 2.1. Have a good week everyone.
Closed shorts earlier, looking like a turningpoint more & more, long now
  • #225
  • May 27, 2014 2:08am May 27, 2014 2:08am
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  • #226
  • May 27, 2014 2:08am May 27, 2014 2:08am
I missed part of this ride waiting for my precious stop hunt. After we took out 2.09 I knew there would be no turning back so I pulled the trigger. I think we'll see 2.1025 by the time London and New York are done, then we can buy more tomorrow at this time when the next flag is breaking. Good luck everyone.
  • #227
  • May 27, 2014 2:09am May 27, 2014 2:09am
Quoting jeffmichaels
{quote} Closed shorts earlier, looking like a turningpoint more & more, long now
GM - nice....as I said I'm long too.....just heard, Turkish Consumer Confidence out at 76 vs 78.5 expected.....

Edit: snap
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  • #228
  • May 27, 2014 2:13am May 27, 2014 2:13am
Quoting Scotty B
I missed part of this ride waiting for my precious stop hunt. After we took out 2.09 I knew there would be no turning back so I pulled the trigger. I think we'll see 2.1025 by the time London and New York are done, then we can buy more tomorrow at this time when the next flag is breaking. Good luck everyone.
Scotty do you hold overnight with this high swap ?
  • #229
  • May 27, 2014 2:16am May 27, 2014 2:16am
Quoting Scotty B
I missed part of this ride waiting for my precious stop hunt. After we took out 2.09 I knew there would be no turning back so I pulled the trigger. I think we'll see 2.1025 by the time London and New York are done, then we can buy more tomorrow at this time when the next flag is breaking. Good luck everyone.

GM Scotty - I have a 61% fib + a S&R zone ~ 2.1035, which would give a 215 pip range, so easily do-able IF the big guys so desire.....TWT
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  • #230
  • May 27, 2014 2:25am May 27, 2014 2:25am
Quoting Islander
{quote} GM - nice....as I said I'm long too.....just heard, Turkish Consumer Confidence out at 76 vs 78.5 expected..... Edit: snap
Yes, Sir. Every little bit helps. Maybe Basci will feel the need to unravel interest rates a little more. Turkey needs the Lira to remain weak for the next couple quarters. They will do what they have to to accomplish this. As a speculator, i'm more than happy to help them in this. The only thing that will turn the Lira back down is when the FED here in the US starts talking about raising interest rates. Money will naturally flee Turkey and so they will crank the rates back up, thus inviting and opening the door for Lira appreciation.
  • #231
  • May 27, 2014 2:31am May 27, 2014 2:31am
IMO perfect time for shorting...

abcd+fibo resistance+stoch

Venceremos
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The good thing with the future is that it is progressively approaching...
  • #232
  • May 27, 2014 2:31am May 27, 2014 2:31am
Quoting Scotty B
{quote} Yes, Sir. Every little bit helps. Maybe Basci will feel the need to unravel interest rates a little more. Turkey needs the Lira to remain weak for the next couple quarters. They will do what they have to to accomplish this. As a speculator, i'm more than happy to help them in this. The only thing that will turn the Lira back down is when the FED here in the US starts talking about raising interest rates. Money will naturally flee Turkey and so they will crank the rates back up, thus inviting and opening the door for Lira appreciation.
Hello Sir Scotty! Thanks for starting and keeping this thread updated. I've been trading this pair for only 2 months now but so far not bad results. I've been trading FX for only a year and I'm trying to learn more each day. Where is the best source of Turkish economic news? Regards.
  • #233
  • May 27, 2014 2:32am May 27, 2014 2:32am
Quoting Islander
{quote} GM - nice....as I said I'm long too.....just heard, Turkish Consumer Confidence out at 76 vs 78.5 expected..... Edit: snap
Heard a south african number crossing the wires as weel 99.1 vs 96.1 expected, but it didnt hear what number, and can't find what it was however.
  • #234
  • May 27, 2014 2:32am May 27, 2014 2:32am
Quoting jeffmichaels
{quote} Scotty do you hold overnight with this high swap ?
Really depends on the day. If things go okay and if I end up catching these swings right I don't sweat the swap too much. It's a cost of doing business.
  • #235
  • May 27, 2014 2:38am May 27, 2014 2:38am
Quoting jeffmichaels
{quote} Heard a south african number crossing the wires as weel 99.1 vs 96.1 expected, but it didnt hear what number, and can't find what it was however.
I have it as the South African Leading Indicator - whatever that is!
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  • #236
  • May 27, 2014 2:45am May 27, 2014 2:45am
Quoting spinozagr
IMO perfect time for shorting... abcd+fibo resistance+stoch Venceremos {image}
Unless your abcd turns out to be the start of a 5 wave advance and the impulsive W3 goes to the higher retraces mentioned earlier......still, as you said.......TWT

BTW, nice clear chart and reasoning....
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  • #237
  • May 27, 2014 3:11am May 27, 2014 3:11am
Quoting Islander
{quote} I have it as the South African Leading Indicator - whatever that is!
Yeah i caught that part too, but thats ussually a comment after he says what it is.

Anyway, I closed the USDZAR with the data later in the session. And took partials on USDTRY on the runup to 2.10. Made up for the losses on the shorts, with the remainder running with a SL for small profit.
  • #238
  • May 27, 2014 3:42am May 27, 2014 3:42am
Daily starting to look like a turn to me looking at the stochastics in indicator window 1 , targetting 2.1250-2.15.
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  • #239
  • Edited 4:41am May 27, 2014 4:19am | Edited 4:41am
Quoting Islander
{quote} Unless your abcd turns out to be the start of a 5 wave advance and the impulsive W3 goes to the higher retraces mentioned earlier......still, as you said.......TWT BTW, nice clear chart and reasoning....
and it did up to that 50% level......I made a mistake and placed another TP for partials 2 pips above rather than 2 pips below still, I just bought another off the pull back to the R2 level....

Edit: 0938 gmt another hit on the 50% level and this time I took some partials and that finishes my morning....
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  • #240
  • May 27, 2014 4:35am May 27, 2014 4:35am
Put on longs again at 2.0950, SL at 2.0780.


Similar set up on USDZAR

Looks like the flag set ups may be valid, just annoyed I got stopped out of my original longs last week
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