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Forex Made Millionaire Thread for Blog Swing Trades

  • #1
  • First Post: Edited Feb 16, 2016 3:06pm Jan 30, 2016 12:23pm | Edited Feb 16, 2016 3:06pm
Hi Traders, thanks for joining me in this new thread. We'll be utilizing the thread to discuss trade opportunities that I've detailed on my blog: www.forexmademillionaire.com

Most of the trades are swing trades, so if you're a scalper this probably isn't the thread for you.

My goals for this thread are as follows:

1) Provide a central place to update live trades that we're working and continued analysis. I generally do not update the blog once a trade has been published there, but I do like to have a place where I can update in semi real-time and keep everyone informed.

2) Gather a group of like-minded traders who enjoy swing trading for bigger target profits.

3) Learn from one another and become better traders. This means please provide solid analysis, charts, and different ways of thinking. Trolls and those that spout predictions without analysis will not be tolerated.

4) Make a lot of money and have fun. I enjoy contributing to the community here as long as it's fun. If it stops being fun, I will stop contributing. Let's make this a fun thread where newbies are welcome and trolls are jettisoned quickly.

The thread will focus on five currency pairs: EUR/USD, USD/CAD, USD/JPY, GBP/USD, and GBP/JPY.

One of the (many) reasons traders fail is because they run from one pair to the next in search of trade opportunities. To me, that's bad for a number of reasons:

1) It teaches you that "there's always a trade to be had" when reality sometimes there isn't and it's best to sit tight
2) It does not teach discipline which is something lacking in nearly all traders (often myself included)
3) It never allows you to get a feel for the ebbs and flows of the pairs you focus on (because you have no focus). Every pair has it's own rhythm and differences in responding to technical levels, etc. How can you possibly get to know them intimately if you're trading them all?

Those are the reasons I tend to keep my pairs limited to the above five and generally won't be trading any more than three at a time (due to over exposure reasons). Please respect this and only post ideas and setups around these five pairs.

Looking forward to this!

Geppy
check out my blog: forexmademillionaire dot com
  • #2
  • Jan 30, 2016 1:21pm Jan 30, 2016 1:21pm
Excellent is all I have to say! Speaking of trades, have you checked out the trend line break and H&S on eur/aud? You might like that one!! Good luck on your thread!
  • #3
  • Jan 30, 2016 1:26pm Jan 30, 2016 1:26pm
Good to see you back on mate, looking forward to this. Cheers.
Be humble or be humbled.
  • #4
  • Jan 30, 2016 1:27pm Jan 30, 2016 1:27pm
Quoting wyley187
Excellent is all I have to say! Speaking of trades, have you checked out the trend line break and H&S on eur/aud? You might like that one!! Good luck on your thread!
I haven't, but I'll take a glance. Thanks!
check out my blog: forexmademillionaire dot com
  • #5
  • Jan 30, 2016 1:27pm Jan 30, 2016 1:27pm
Quoting Temujin
Good to see you back on mate, looking forward to this. Cheers.
Thanks, bud. I hope you join us here!
check out my blog: forexmademillionaire dot com
  • #6
  • Jan 30, 2016 1:30pm Jan 30, 2016 1:30pm
Also, I'll be putting the finishing touches on my "Weekly Outlook" later today and publishing it tomorrow morning. Be on the lookout for that on the blog (newsletter subscribers will get notified too).

I've got three setups I'm keeping my eye on and detail each one. Should be a fun week!
check out my blog: forexmademillionaire dot com
  • #7
  • Jan 30, 2016 1:39pm Jan 30, 2016 1:39pm
Good stuff! Was checking out your blog briefly and noticed we trade very similarly. Looking forward to posting here and hopefully getting feedback on my stuff for once :nerd:

Anyways....ill try to get some charts on stuff im looking at up by tomorrow. Recently closed out my AU and GU shorts and looking to get short on them again this coming week.
  • #8
  • Jan 30, 2016 1:53pm Jan 30, 2016 1:53pm
sounds good, good luck, ill be watching this thread.

any tips about USD/JPY? - looks like nice double bottom + shooting star and also with the news from Japan govermant yesterday - whats your opinion about that?
  • #9
  • Jan 30, 2016 1:55pm Jan 30, 2016 1:55pm
I'm new in this forum, well and I got 200 pips from GBP/JPY thanks to you I'm a scalper trader, but swing trading looks "stressless" so I'll give it shoot, thank you for that! I'm looking forward to next time and ... Happy trading ;-)
  • #10
  • Edited 2:32pm Jan 30, 2016 2:21pm | Edited 2:32pm
AU

Fundamentally....USD is the big boy on the block, just raised rates and will be looking to do so again in March(perhaps), JPY lower rates just cemented this. AUD will be dragged lower with the Chinese economy and the currency war taking place between China and Japan.

Techs...

1st chart is the 30M. Perfect rejection from the overall 618 fib on the recent break down of the larger consolidation. Also, rejection from the rising upper channel and the recent exit from overbought zone on the RSI. The move from fridays high to low was roughly 83 pips. Im looking for a rejection from 71, which is roughly the 50 fib from fridays move, signaling another move down and breaking the rising trendline shown in red. Why 71? Because markets are attracted to round numbers plus its the in the golden zone. If judging fridays 83 I expect at least 80 pips south in this move which will put the price at roughly 7020. price closure at roughly 7020 would signal a break of the rising channel and lead to a greater move south to me.

2nd chart is the Daily. Perfect rejection from the overall 618 fib on the recent break down of the larger consolidation. Lovely lovely candlestick formation in the process. Long upper wicks. A move down on Sunday/Monday would create a lovely evening star formation and at that point the world will be in the trade sending this to the bottom fast. The move down that broke out of the larger consolidation was roughly 500 pips. IF the ABC pattern holds true that means we can look to get 500 pips on the move south from 7140 which would leave the pair close to 66. Im not looking to get all that right now. Im looking to see that low of 6827.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AU3030.png Size: 133 KB
Click to Enlarge Name: AUDD.png Size: 124 KB
Click to Enlarge Name: AUDDDD.png Size: 117 KB
  • #11
  • Jan 30, 2016 2:38pm Jan 30, 2016 2:38pm
Quoting omri89
sounds good, good luck, ill be watching this thread. any tips about USD/JPY? - looks like nice double bottom + shooting star and also with the news from Japan govermant yesterday - whats your opinion about that?
I don't like USD/JPY longs. I mention it briefly while talking about GBP/JPY in my post tomorrow (weekly outlook). But there's some crazy resistance areas we're butting up again. Also, I don't trust equities, and if equities tank USD/JPY will go with it. Lastly, the negative rates in Japan I think could end up being a disappointment. People were expecting more QE. I'd have expected more follow through last week on the rate announcement, but we didn't see that.
check out my blog: forexmademillionaire dot com
  • #12
  • Jan 30, 2016 2:41pm Jan 30, 2016 2:41pm
Quoting raiders
AU Fundamentally....USD is the big boy on the block, just raised rates and will be looking to do so again in March(perhaps), JPY lower rates just cemented this. AUD will be dragged lower with the Chinese economy and the currency war taking place between China and Japan. Techs... 1st chart is the 30M. Perfect rejection from the overall 618 fib on the recent break down of the larger consolidation. Also, rejection from the rising upper channel and the recent exit from overbought zone on the RSI. The move from fridays high to low was roughly 83 pips....
Great charts and thoughts. Here's my AUD/USD chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-01-30 12.41.51.png Size: 160 KB


Clearly in a downtrend.

That being said, I don't usually trade this pair. It doesn't move fast enough for my liking which isn't a problem for me if I'm taking a long position. But the rollover premium on shorts is brutal. For my style, I like to go for larger TPs. Holding AUD shorts for an extended period of time costs just too much to be an attractive trade for me.
check out my blog: forexmademillionaire dot com
  • #13
  • Jan 30, 2016 2:52pm Jan 30, 2016 2:52pm
Quoting Geppy
{quote} Great charts and thoughts. Here's my AUD/USD chart: {image} Clearly in a downtrend. That being said, I don't usually trade this pair. It doesn't move fast enough for my liking which isn't a problem for me if I'm taking a long position. But the rollover premium on shorts is brutal. For my style, I like to go for larger TPs. Holding AUD shorts for an extended period of time costs just too much to be an attractive trade for me.
I agree 100% about the the speed and rollovers. Unless the move is as clean as this appears to be I get in and out of the move with in the day. And probably will on the move down(IF the market agrees with me). At most i will hold for 2 days and for that i need to see a serious move on the 1st day with no clear levels of support/resistance in the near future.

Anyways, just one of the pairs im looking at. Will post a couple more later
  • #14
  • Jan 30, 2016 3:47pm Jan 30, 2016 3:47pm
Just noticed your email from your blog... I think it's a great Idea to keep your trade idea's, thoughts, charts and everything in between in one place.
Follow me at andrewfx2020 (dot) com
  • #15
  • Jan 30, 2016 4:24pm Jan 30, 2016 4:24pm
Hi Geppy, will you be updating your trades on this thread, and not your blog once you publish your trade on your blog? I have a horribly slow lap top which makes it hard to have too many windows open at a time. My first purchase with my profit after reaching my initial investment and then some, will be a faster computer with a bigger screen. Thank you so much for posting.
  • #16
  • Jan 30, 2016 5:19pm Jan 30, 2016 5:19pm
Quoting Geppy
{quote} I don't like USD/JPY longs. I mention it briefly while talking about GBP/JPY in my post tomorrow (weekly outlook). But there's some crazy resistance areas we're butting up again. Also, I don't trust equities, and if equities tank USD/JPY will go with it. Lastly, the negative rates in Japan I think could end up being a disappointment. People were expecting more QE. I'd have expected more follow through last week on the rate announcement, but we didn't see that.
  • #17
  • Edited 8:28pm Jan 30, 2016 8:08pm | Edited 8:28pm
Hi geppy ,wow I just saw your new thread , congrats man , so I guess we are going to spend more time on this one!
  • #18
  • Jan 30, 2016 8:14pm Jan 30, 2016 8:14pm
Thanks for the invite. I have subscribed since I made over 300 pips on your last call
  • #19
  • Jan 31, 2016 3:10am Jan 31, 2016 3:10am
Good luck with your thread.
Fix up, trade sharp ...
  • #20
  • Jan 31, 2016 5:08am Jan 31, 2016 5:08am
Quoting sclipp
Hi Geppy, will you be updating your trades on this thread, and not your blog once you publish your trade on your blog? I have a horribly slow lap top which makes it hard to have too many windows open at a time. My first purchase with my profit after reaching my initial investment and then some, will be a faster computer with a bigger screen. Thank you so much for posting.
Hey Sclipp, yes I'll be posting the deeper trade analysis on my blog and then updates on this thread. It's too hard to publish posts on the blog for just small updates and chatter. Glad you're joining us!

Quoting Gr8tr8r
Hi geppy ,wow I just saw your new thread , congrats man , so I guess we are going to spend more time on this one!
Thanks, man! No need for me to reply to the PM then

Quoting TrendDiscipl
Thanks for the invite. I have subscribed since I made over 300 pips on your last call
Awesome, I love hearing you made a killing on one of my trades. Nice work!

Quoting Hickson
Good luck with your thread.
Thanks, Hickson. Hope to see you in here now and then
check out my blog: forexmademillionaire dot com
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