just went long right after it touches weekly support line at 192.9. There is chance for 190s, but there's also an obvious support at 191.96. My guess is that it'll keep ranging for awhile with a higher low higher than 191.96.
- #11,542
- Aug 20, 2015 11:02pm Aug 20, 2015 11:02pm
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
- #11,544
- Aug 21, 2015 8:51am Aug 21, 2015 8:51am
That bulls scared shit out of me. I'm short with the target of 192.50... This is going too slow....Any views on this pair? {image}
Money never sleeps I can hear the dollar calling me
- #11,546
- Aug 21, 2015 12:40pm Aug 21, 2015 12:40pm
I know im dead in the water until something pushes this back up.
. Going into weekend with floating -275 pips ://////
- #11,547
- Aug 21, 2015 12:58pm Aug 21, 2015 12:58pm
- | Joined Oct 2012 | Status: Eating potato chips | 629 Posts
{quote} Same here, The JPY been screwing us, Im long on usdjpy(Since Tuesday), and I was unable to tend to my trades. I have ripple effect from both usd fomc minutes and jpy safehaven, so its really bad on usdjpy. Im letting this one sink into my account though, Hopefully NFP next week will be good data and both UJ and GJ will bounce, (about 121.4 and 190.3 respectively), I rather risk 45-50 pips again than close out on such a terrible position
I am holding long, despite being -ve also.
- #11,552
- Aug 21, 2015 2:50pm Aug 21, 2015 2:50pm
{quote} Same here, The JPY been screwing us, Im long on usdjpy(Since Tuesday), and I was unable to tend to my trades. I have ripple effect from both usd fomc minutes and jpy safehaven, so its really bad on usdjpy. Im letting this one sink into my account though, Hopefully NFP next week will be good data and both UJ and GJ will bounce, (about 121.4 and 190.3 respectively), I rather risk 45-50 pips again than close out on such a terrible position
2 things!
One : I pointed this out last week that the bull push was over. don't trade what you 'expect' to happen, trade what the price action is telling you.
Two : 95% of retail traders fail because of poor money management... I don't know what that means to you, but -300 ish pips, unless you're using veeeery low leverage / lot sizes or you have a massive capital balance is A LOT to hold on a losing position!
do you pay swaps?
I don't like closing positions when at negative margin. I can tell you of a very aggressive recovery tactic if you need it, but sometimes it's better to just take the loss. 300 pip loss is better than 500, and you will need closer to 1000 pipa to recover the capital lost or increase your risk. Neither is a good place to be.
Please don't trade emotion and respect your money..
Ok, lecture over
- #11,553
- Aug 21, 2015 5:01pm Aug 21, 2015 5:01pm
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
{quote} dude, look at monthly time frame. its ranging, this week was the top of the range. it bounced off 195, like its done many times recently, trendline broke, sell signal all the way. I have no idea where its likely to end but my TP is around 191.xx ish. I've scaled out for the weekend will look for shorts next week. Note, this is still a bullish pair so please be careful trading the shorts, the moves tend to be quick and the longs recover much slower. Daily pivots are working well for me, the shorts tend to touch the 200sma before correcting...
note to self lol
My only losses this week have been that I havent stayed true to my lines/work and re-bought when price reentered structure. minimal loses or breakevens but still. once price closes below the lines its time to look south. STAY PATIENT!! TRUST YOUR WORK!!
Ill try to remember to post some charts before monday. Maybe get some feedback for yous guys. Maybe help a few guys. Who knows
Anyways, I also agree that this pair is nothing but bullish. Were just in a big ass consolidation phase right now. If you look most GBP pairs all have or had consolidation patterns. Bottom of it is near i believe.
Side note, also in consolidation is NJ. Sold it at 81.95 Holding for awhile. I think its dropping through the floor early next week hoping to get a few hundred off it. AJ jumped the gun on me today but look for lower AJ now that it has dropped through. Thank you China
Today was exciting across the board. Big jumps in CAD pairs. Didnt expect them to happen that soon either. For those who care 133 and beyond i think is a good tp for UC.
Excited for next week. Looks like were finally getting some action in the market again.
Also, its been a long time since Rays been around, wish he would drop by but it is what it is. That said, many thanks on the numbers Ray. They're still on point.
{quote} 2 things! One : I pointed this out last week that the bull push was over. don't trade what you 'expect' to happen, trade what the price action is telling you. Two : 95% of retail traders fail because of poor money management... I don't know what that means to you, but -300 ish pips, unless you're using veeeery low leverage / lot sizes or you have a massive capital balance is A LOT to hold on a losing position! do you pay swaps? I don't like closing positions when at negative margin. I can tell you of a very aggressive recovery tactic if...
{quote} 2 things! One : I pointed this out last week that the bull push was over. don't trade what you 'expect' to happen, trade what the price action is telling you. Two : 95% of retail traders fail because of poor money management... I don't know what that means to you, but -300 ish pips, unless you're using veeeery low leverage / lot sizes or you have a massive capital balance is A LOT to hold on a losing position! do you pay swaps? I don't like closing positions when at negative margin. I can tell you of a very aggressive recovery tactic if...
- #11,556
- Edited Aug 22, 2015 9:25pm Aug 21, 2015 10:43pm | Edited Aug 22, 2015 9:25pm
- Joined Nov 2007 | Status: CHART HACKER | 2,454 Posts
- #11,557
- Aug 23, 2015 8:34pm Aug 23, 2015 8:34pm
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
- #11,559
- Aug 23, 2015 11:13pm Aug 23, 2015 11:13pm
- Joined Nov 2007 | Status: CHART HACKER | 2,454 Posts