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  • #1,014,261
  • Jul 29, 2015 5:20am Jul 29, 2015 5:20am
Quoting edyraper
{quote} Hope she dont make a new H today before FED* {image}
If she does, i'll out..
risk 10pips
Forex as Leverage
  • #1,014,262
  • Jul 29, 2015 5:21am Jul 29, 2015 5:21am
Quoting Matts Micro
Not sure there is much money in market atm. "Feels" like low liquidity before FOMC creating a playground for the Money. It may eventually grab a direction but there seems to be plenty of pain to hand out first. Currently long EJ but playing it tight and if it's taken will step aside.
(Bloomberg) -- Foreign-exchange trading declined around the world in April amid speculation the Federal Reserve will raise interest rates only gradually.
Daily trading in the U.K., the largest currency market, fell 8 percent to average $2.5 trillion, down from October’s record of $2.7 trillion, according to a Monday statement from the Bank of England’s Foreign Exchange Joint Standing Committee. In the U.S., volumes dropped about 20 percent from last October to $881 billion, the Foreign Exchange Committee, which is sponsored by the Federal Reserve Bank of New York, said on its website.
“You saw monetary policy stagnation in all the major central banks at that period in time,” said Thomas Averill, a managing director in Sydney at Rochford Capital, a currency and rates risk-management company.
While Fed Chair Janet Yellen only told the Senate Banking Committee in July that she preferred a gradual path to higher U.S. rates, investors have speculated for months that the pace of policy tightening will be dependent on an improvement in the economy. The European Central Bank’s quantitative-easing program was well flagged, while the Bank of Japan has stood pat on policy for months, meaning fewer opportunities for traders to make money from currency price swings.
The reports are based on surveys of financial institutions that participate in the currency markets. The committees collaborate with each other to release their surveys on the same day, according to the U.S. group, which was formed in 1978.
  • #1,014,263
  • Jul 29, 2015 5:25am Jul 29, 2015 5:25am
TSIPRAS SAYS BAILOUT IS WRONG RECIPE, WILL FIGHT TO OVERTURN IT #ownership #Greece
  • #1,014,264
  • Jul 29, 2015 5:27am Jul 29, 2015 5:27am
Its been hard finding a direction today n sitting in one boat .not comfortable chosing a side for now
MMMYYYKKK
  • #1,014,265
  • Jul 29, 2015 5:30am Jul 29, 2015 5:30am
Quoting Ken A
From story teller https://www.youtube.com/watch?v=PtYQrn3kQ6s
This was great! Thanks for posting.
  • #1,014,266
  • Jul 29, 2015 5:30am Jul 29, 2015 5:30am
Quoting myk
Its been hard finding a direction today n sitting in one boat .not comfortable chosing a side for now
not at all, unless you are in the mofo group hehe… PA still rules above all
  • #1,014,267
  • Jul 29, 2015 5:34am Jul 29, 2015 5:34am
Quoting airmac
{quote} not at all, unless you are in the mofo group hehe PA still rules above all
Lol on 4 hour it seems good t me to make new highs on lower TF shorts might be more suitable would have been much better trading GBP today instead.
MMMYYYKKK
  • #1,014,268
  • Jul 29, 2015 5:35am Jul 29, 2015 5:35am
Quoting xandi
{quote} yes, I have that doubt also...for that reason I would trade if I had margin adding longs lots... a large retrace can happen (even more in 4h chart you can count 1-2-3-4-5 waves) but for preety sure after that retrace we will assist a huge fast climb up...I was watching the move on 20th April 2015, and its similar to this(although the retrace from the fall was only 62%, on nowadays case was 78%), with 1-2-3-4-5 correction, retrace to 62% fibo and there fly up like a rocket...I post here for you {image}
For me it was a perfect 50% retrace (April) I don't count from top or bottom, rather S above or R below. Rounding up, next 300 below you have 0500, full swing - 300 to 800, and 50% to 650. Full mid swings on EU are always 300p +- 30-50p, depending on SR range.
  • #1,014,269
  • Jul 29, 2015 5:37am Jul 29, 2015 5:37am
I am wondering about Yellen's and friends trading accounts ......
  • #1,014,270
  • Jul 29, 2015 5:39am Jul 29, 2015 5:39am
Quoting myk
{quote} Lol on 4 hour it seems good t me to make new highs on lower TF shorts might be more suitable would have been much better trading GBP today instead.
no science there…trapped
http://screencast.com/t/8Ast4gcnD

1.106 sup now
https://www.tradingview.com/x/H6cgU5KM/
  • #1,014,271
  • Jul 29, 2015 5:41am Jul 29, 2015 5:41am
Quoting goldfish3
{quote} (Bloomberg) -- Foreign-exchange trading declined around the world in April amid speculation the Federal Reserve will raise interest rates only gradually....
Thanks for the post it's an interesting read, I'm sure I read another similar article recently too.

After being in this game for a while I think I sense low liquidity (though could be imagining it too not 100% ). When liquidity is flowing however, it is a real thrill to trade as there aren't many what if's or maybes. Low liquidity imo creates uncertainty in the ST PA enabling the money to move it that little extra to snatch away stops without too much risk, on the other hand high volume creates an environment where they know they can get their fingers burnt if they try to move the market.

Not sure on the truth of it but I am getting more and more shy to trade in low liquidity as time goes on.
As the lights go by so too do the shadows move
  • #1,014,272
  • Jul 29, 2015 5:53am Jul 29, 2015 5:53am
Quoting edyraper
{quote} Hope she dont make a new H today before FED* {image}
@BE
Attached Image
  • #1,014,273
  • Jul 29, 2015 5:55am Jul 29, 2015 5:55am
seems like a typical squeeze play .

Phase a)
High). 1.113
Support at 1.1085
Low). 1.1022


Phase b).
High). 1.1085
Support at 1.1065
Low). 1.1033


Phase c).
High). 1.107
Support?
Low).?

Seems like it will be around 1.106 where will we meet FOMC.. not a crystal ball prediction but just some observations. Keeps getting tighter.. if you ask me, High was 1.107 and we will see around 1.104 / 1.105 area before going into FOMC
There is no royal road to anything.
  • #1,014,274
  • Jul 29, 2015 5:56am Jul 29, 2015 5:56am
Quoting edyraper
{quote} @BE {image}
I might be wrong but eu will ranging before the fed..
it won't make a new high before the fed
Forex as Leverage
  • #1,014,275
  • Jul 29, 2015 5:58am Jul 29, 2015 5:58am
Quoting Chanlie
{quote} I might be wrong but eu will ranging before the fed.. it won't make a new high before the fed
I don't care im on BE will look for 30-40 pips enough for me .
also shorted UJ hurting my butt
  • #1,014,276
  • Jul 29, 2015 6:01am Jul 29, 2015 6:01am
Quoting KzX
{quote} For me it was a perfect 50% retrace (April) I don't count from top or bottom, rather S above or R below. Rounding up, next 300 below you have 0500, full swing - 300 to 800, and 50% to 650. Full mid swings on EU are always 300p +- 30-50p, depending on SR range.
hehehe..I still use the old fashioned fibonacci style...sometimes I can draw it not at HIgh/low but at closes, but no more than that...let me keep updated how you´re doing with your fibo method...
I have much to backtest and trade simulate on historical database (I´m only starting on that), so I can get more and more conclusions about my method...after I can share the results, until now it´s promising and enthusiastic, and the best thing I´m finnaly getting a clear picture and strict way of trading... cheers buddy
  • #1,014,277
  • Jul 29, 2015 6:05am Jul 29, 2015 6:05am
With or without FOMC, all we need is the completion of a C wave down on 4H.. If XA = BC then it would drop to 1.0977 at least. But generally C waves are longer so I expect a lower target roughly towards 1.0950 area.. my half cents..

Happy Trades
Focus only on what truly matters!
  • #1,014,278
  • Jul 29, 2015 6:05am Jul 29, 2015 6:05am
Quoting Ata-Turkoglu
With or without FOMC, all we need is the completion of a C wave down on 4H.. If XA = BC then it would drop to 1.0977 at least. But generally C waves are longer so I expect a lower target roughly towards 1.0950 area.. my half cents.. Happy Trades
long time no see , welcome back
  • #1,014,279
  • Jul 29, 2015 6:07am Jul 29, 2015 6:07am
Quoting Chanlie
{quote} I might be wrong but eu will ranging before the fed.. it won't make a new high before the fed
seconded...in fact all usd related pairs wont move much before fed...haha
  • #1,014,280
  • Jul 29, 2015 6:12am Jul 29, 2015 6:12am
Quoting edyraper
{quote} long time no see , welcome back
My work days are generally mixed with journeys and holidays.. thanks bro.. was following from time to time.. no worries

Happy Trades
Focus only on what truly matters!
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