closed all trades
+320pips
+320pips
In trading, you have to be defensive and aggressive at the same time
- #1,062
- Jun 5, 2014 9:03am Jun 5, 2014 9:03am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,064
- Jun 5, 2014 9:15am Jun 5, 2014 9:15am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} In it as well -
If it holds until 11.30 we got a shot at 6750
I hope you took some shorts on A/CHF and G/CHF both were in extreme BB zones.
Don't forget I ease myself into a position.Never all at ones.
In trading, you have to be defensive and aggressive at the same time
{quote} 6780 showing good resistance If it holds until 11.30 we got a shot at 6750 I hope you took some shorts on A/CHF and G/CHF both were in extreme BB zones. Don't forget I ease myself into a position.Never all at ones.
Yes I am in AUDCHF and GBPCHF as well - still in but all small positions, learning from the best
Thats you my friend....small positions ...nice and easy
- #1,066
- Jun 5, 2014 9:21am Jun 5, 2014 9:21am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,067
- Edited 9:32am Jun 5, 2014 9:22am | Edited 9:32am
I'm disappointed with myself. Three minutes before the ECB rate print I moved my stops to halfway between where I'd placed them and the respective lows, thus not committing to either taking full profit or using sensible stops. Yes, it was an overnight gain as I expected, but by not committing to a strategy I was just gambling and that's not professional.
It will be interesting to see what happens to the Franc with negative rates -- will the Swiss still be willing to pin their currency to the Euro?
As for the Euro, other than dropping the benchmark the remaining 0.15% all the way to zero, that's pretty much the limit of what they can do without member consensus which they're unlikely to get. I suppose they could drop the marginal rate, now at 0.40% but I'm not knowledgeable enough to know what kind of impact that might have.
If the USD fails to close above 10,530 again today (the 78.6% Fibonacci - I believe that's one of your butterfly patterns) that will be the 8th day in a row. It's being squeezed against rising channel support, peaking below RSI support and flirting with 50 on the 8-hour chart. [update: Need a daily close to confirm but USD Index support has now thoroughly broken] If there's a poor USD unemployment print tomorrow USD will be hard-pressed to stay afloat. Combine that with the last ECB rate cut fully retracing [update: EUR/USD rate cut move has now fully retraced] and, unless something happens to turbocharge the Yen or Pound the Euro probably just hit bottom and is set to gain ground quickly, and it will likely take something particularly bullish out of the FOMC on the 18th to send it lower.
USD Index 8-hour
It will be interesting to see what happens to the Franc with negative rates -- will the Swiss still be willing to pin their currency to the Euro?
As for the Euro, other than dropping the benchmark the remaining 0.15% all the way to zero, that's pretty much the limit of what they can do without member consensus which they're unlikely to get. I suppose they could drop the marginal rate, now at 0.40% but I'm not knowledgeable enough to know what kind of impact that might have.
If the USD fails to close above 10,530 again today (the 78.6% Fibonacci - I believe that's one of your butterfly patterns) that will be the 8th day in a row. It's being squeezed against rising channel support, peaking below RSI support and flirting with 50 on the 8-hour chart. [update: Need a daily close to confirm but USD Index support has now thoroughly broken] If there's a poor USD unemployment print tomorrow USD will be hard-pressed to stay afloat. Combine that with the last ECB rate cut fully retracing [update: EUR/USD rate cut move has now fully retraced] and, unless something happens to turbocharge the Yen or Pound the Euro probably just hit bottom and is set to gain ground quickly, and it will likely take something particularly bullish out of the FOMC on the 18th to send it lower.
USD Index 8-hour
You can always make money tomorrow provided you don't lose it today.
- #1,068
- Jun 5, 2014 9:24am Jun 5, 2014 9:24am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} Yes I am in AUDCHF and GBPCHF as well - still in but all small positions, learning from the best
I hope I can measure uphttp://juliedeneen.com/wp-content/up...ng-moments.jpg
In trading, you have to be defensive and aggressive at the same time
- #1,069
- Jun 5, 2014 9:28am Jun 5, 2014 9:28am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,070
- Jun 5, 2014 9:30am Jun 5, 2014 9:30am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,071
- Jun 5, 2014 9:34am Jun 5, 2014 9:34am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,074
- Jun 5, 2014 10:08am Jun 5, 2014 10:08am
{quote} KADC Any live trades?
I went long AUD/USD when it broke 0.93, re-entered EUR/AUD short at 1.46 (meant to enter at 1.465 -- I'm honestly not sure why that happened). With the USD Index failing I think it's premature to short the Euro so I went long EUR/USD still looking for something closer to 1.385 before I go short. If I'm wrong the EUR/AUD works as a hedge. Uncertainty is flowing into Yen so I'm looking at shorting USD/JPY. I missed the RSI support break (I wish I had non-price based alerts) so I'm waiting for a break below 102.35 (100%) or a return to 102.75 (127.2%) or possibly RSI resistance on the 1-hour chart.
USD/JPY 4-hour chart
You can always make money tomorrow provided you don't lose it today.
- #1,075
- Jun 5, 2014 10:12am Jun 5, 2014 10:12am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} I agree about stops. You may remember from before that I don't normally use stops, but since I lost my mojo I've been playing it safe. Today that cost me $500 profit to protect a $50 gain. Well, profit is profit. I went long AUD/USD when it broke 0.93, re-entered EUR/AUD short at 1.46 (meant to enter at 1.465 -- I'm honestly not sure why that happened). With the USD Index failing I think it's premature to short the Euro so I went long EUR/USD still looking for something closer to 1.385 before I go short. If I'm wrong the EUR/AUD works as...
You gave my idea to check E/A
Trading is like sport.Takes some time to get in sink when you were out of it as you were..
I am sure you will start kicking ass soon
In trading, you have to be defensive and aggressive at the same time
- #1,076
- Jun 5, 2014 10:22am Jun 5, 2014 10:22am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
{quote} I don't think we will see 3850 on EU any time soon. You gave my idea to check E/A Trading is like sport.Takes some time to get in sink when you were out of it as you were.. I am sure you will start kicking ass soon
Ghost Rider - WWTBMD?
- #1,077
- Jun 5, 2014 10:31am Jun 5, 2014 10:31am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,078
- Jun 5, 2014 10:33am Jun 5, 2014 10:33am
- Joined Apr 2014 | Status: Trader | 2,417 Posts
Some good work here today amigos. Bravo. I've been playing on UJ and now GU. I got my 1st entry. Looks like we've just made an abcd retrace. Crucial point. Let's see.
It's all about bucks, kid. The rest is conversation.
- #1,079
- Jun 5, 2014 10:56am Jun 5, 2014 10:56am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,080
- Jun 5, 2014 11:02am Jun 5, 2014 11:02am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Seems we're all on the same page with GU. Good luck everyone. 
Ghost Rider - WWTBMD?