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Forex Made Millionaire Thread for Blog Swing Trades

  • #81
  • Feb 1, 2016 10:55pm Feb 1, 2016 10:55pm
Quoting Mr0791
Hi Geppy, Decided to come back to Forex after long break because of your posts on StockTwits ...great calls on USD/CAD, GBP/JPY and EUR/USD Happy to follow you and learn how to be a winner. MarK
Awesome, to hear Mark. I don't always remember to blast my ideas and posts to StockTwits, so please join the mailing list via the blog and stay tuned here for updates.
check out my blog: forexmademillionaire dot com
  • #82
  • Feb 1, 2016 10:57pm Feb 1, 2016 10:57pm
As discussed earlier in this post, it's really starting to look like the divergence was hinting at a top in GBP/JPY.

Of course we can't be sure yet, but we should have a better idea by morning once a few more 4-hour candles have had the chance to complete. A test of the low 171.00s and the lower trend channel support would be a good start. A break of that channel would really open up the downside.

It could be an interesting week.
check out my blog: forexmademillionaire dot com
  • #83
  • Feb 1, 2016 11:52pm Feb 1, 2016 11:52pm
OK, gang. I'm headed off to bed soon, but here's what I'm seeing. A zoomed out 5-minute chart is looking like this right now:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-02-01 21.48.52.png Size: 161 KB


A couple things to note:

1) We're trading below the 50, 100, and 200 MAs for the first time this week. Furthermore, the 50 and 100 are crossing over the 200 to the downside.

2) The blue trend line that has offered support since last week has been breached. I expect some more follow through here.

It's really feeling like, at a minimum, we test the lower boundary of the trend channel (gold line). Again, if you're not fully following the analysis here be sure to read my weekly outlook post on my blog, specifically the GBP/JPY section.
check out my blog: forexmademillionaire dot com
  • #84
  • Feb 2, 2016 10:18am Feb 2, 2016 10:18am
Hey geppy, just recently subscribed to your newsletter and already feeling like a more confident trader!

was able to sell gj at 173.958 and tp at 173.018! It felt premature as you indicated around 171

Are we seeing 168?
thanks again!
-Pippi Longstocking (yes it's me)
  • #85
  • Feb 2, 2016 10:46am Feb 2, 2016 10:46am
Quoting backonmybull
Hey geppy, just recently subscribed to your newsletter and already feeling like a more confident trader! was able to sell gj at 173.958 and tp at 173.018! It felt premature as you indicated around 171 Are we seeing 168? thanks again!
Hey backonmybull, thanks for the kind words. Hopefully we can all make a bunch of pips together!

The divergence in GBP/JPY I pointed out yesterday definitely seems to be playing out as expected. I think the first target we should be eyeing is 171.50 and if that breaks decisively we can figure out where we may go next.

I'll try to get a chart up later today.
check out my blog: forexmademillionaire dot com
  • #86
  • Feb 2, 2016 5:02pm Feb 2, 2016 5:02pm
Just found your link on Forexlive on Sunday and clicked on it and im glad i did. everything sounds and looks great. I made a few pips overnight last night on your recommendations. I have now joined forexfactory and your blog to follow you as i have been struggling to get of the start line with my small accounts and trying to follow free webinars etc. I cant believe i found someone with great knowledge who genuinely wants to help others without charging them a fortune and as i type i believe the GPP/JPY is trying to break through the bottom of the cannel. You have been spot on so far. Im a bit excited lol. Thank you in advance and good luck, I look forward to following you.
  • #87
  • Feb 2, 2016 5:15pm Feb 2, 2016 5:15pm
Hey gang!

Today has been a solid day for anyone who entered shorts on GBP/JPY yesterday. I think we all jumped the gun a bit early, but if you set your SL above 175.00 then you survived.

The next logical stop for price would be to test the bottom part of the trend channel:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-02-02 15.10.22.png Size: 262 KB


This should come into play right around 171.50 but is ultimately dependent on how long it takes us to trade down to it given that it is an ascending support line. Depending on your entry, this should give you a minimum of 250 pips profit on the trade and maximum of 350 if you somehow managed to sell the top at 175.00

I'm hoping we reach our target tonight or tomorrow. Adding in the 75 pips from our earlier EUR/USD trade, it'd make for a great start to the week!
check out my blog: forexmademillionaire dot com
  • #88
  • Feb 2, 2016 5:32pm Feb 2, 2016 5:32pm
Hi Geppy,

what are thoughts on EUR/USD? Is it approaching top of the range for shorting?
  • #89
  • Edited 6:00pm Feb 2, 2016 5:43pm | Edited 6:00pm
Quoting charron
Hi Geppy, what are thoughts on EUR/USD? Is it approaching top of the range for shorting?
As detailed in my weekly outlook, I've got the top of the range at 1.0950 -- I may have taken a short this morning at 1.0940 but I wasn't around for it. You could take an aggressive entry now with a stop above recent highs, but it's not a trade I'm interested in. I'd prefer to either wait for 1.0950 or wait for a breakdown on the 5 min chart.

Even if the latter were to happen, I probably wouldn't trade it. When trading a range, I like to enter as close to the range extreme as possible and exit well before the other extreme (like we did on Sunday/Monday with longs). Take a trade at these levels enters too far from the upper boundary and eats into your potential reward if you're exiting before the range bottom.
check out my blog: forexmademillionaire dot com
  • #90
  • Feb 2, 2016 7:25pm Feb 2, 2016 7:25pm
Gosh, the way this baby is falling... you've gotta wonder if it crashes right through the channel support.
check out my blog: forexmademillionaire dot com
  • #91
  • Feb 2, 2016 7:33pm Feb 2, 2016 7:33pm
Hi there, finally gbpjpy drop waiting for BOE assesment
  • #92
  • Feb 2, 2016 7:41pm Feb 2, 2016 7:41pm
Quoting Geppy
Gosh, the way this baby is falling... you've gotta wonder if it crashes right through the channel support.
Hi Geppy

Nice page & blog. 1:41 am here in the uk... out of interest.. Which pair are you referring too?
Que Sera
  • #93
  • Feb 2, 2016 7:44pm Feb 2, 2016 7:44pm
Quoting Catempire
{quote} Hi Geppy Nice page & blog. 1:41 am here in the uk... out of interest.. Which pair are you referring too?
Sorry, was referring to GBP/JPY. She keeps falling nice and steady here. I'm wondering if the 171.50 target is too conservative. Might be best to take profit there regardless and see what the next move wants to be.
check out my blog: forexmademillionaire dot com
  • #94
  • Feb 2, 2016 7:54pm Feb 2, 2016 7:54pm
Headed home from the office now, all. I'll be checking in later tonight... could be an active Asian session!
check out my blog: forexmademillionaire dot com
  • #95
  • Feb 2, 2016 7:55pm Feb 2, 2016 7:55pm
Quoting Geppy
{quote} Sorry, was referring to GBP/JPY. She keeps falling nice and steady here. I'm wondering if the 171.50 target is too conservative. Might be best to take profit there regardless and see what the next move wants to be.
Appreciate the reply mate... please keep up the good work... I'm learning a great deal in the process...
Que Sera
  • #96
  • Feb 2, 2016 8:14pm Feb 2, 2016 8:14pm
Quoting Geppy
Gosh, the way this baby is falling... you've gotta wonder if it crashes right through the channel support.
Hi Travis,I'm thinking the same thing ( maybe close early or just ride one more leg down) but what I got on sup.line is 171.54and then next is 170.80, but if you take a look at your weekly chart we have a nice channel out there too ( bottom 164.00 and up channel @177.10 and 180.00 and also weekly stochastic just crossed monthly, + don't forget a big bull name Kuroda. so I'm looking at 172 to 177 up, depending on my H4 if it start going from bottom up.Check 4/30/15 I believe we are going to have a very similar situation.
Regards.
  • #97
  • Feb 2, 2016 8:24pm Feb 2, 2016 8:24pm
Kurode speaks in 5 min. just saying.
  • #98
  • Feb 2, 2016 8:51pm Feb 2, 2016 8:51pm
Quoting Gr8tr8r
{quote} Hi Travis,I'm thinking the same thing ( maybe close early or just ride one more leg down) but what I got on sup.line is 171.54and then next is 170.80, but if you take a look at your weekly chart we have a nice channel out there too ( bottom 164.00 and up channel @177.10 and 180.00 and also weekly stochastic just crossed monthly, + don't forget a big bull name Kuroda. so I'm looking at 172 to 177 up, depending on my H4 if it start going from bottom up.Check 4/30/15 I believe we are going to have a very similar situation. Regards.
This is why charts matter so much. If you can post a chart depicting your ideas along with the explanation it helps. I read this and I tune out trying to create a mental picture in my mind.
check out my blog: forexmademillionaire dot com
  • #99
  • Feb 2, 2016 9:14pm Feb 2, 2016 9:14pm
just saying the 2 drive down is a warning of exhaustion ........ hope i am right geppy?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 59 KB
  • #100
  • Feb 2, 2016 9:26pm Feb 2, 2016 9:26pm
Quoting japfx
just saying the 2 drive down is a warning of exhaustion ........ hope i am right geppy? {image}
When I start over-analyzing the charts, part of me starts thinking it is getting exhausted yes. But another part of me says this baby could really start to snowball to the downside.

I'm going to watch it carefully until bed, then throw an in-profit SL in place just in case anything goes crazy overnight.
check out my blog: forexmademillionaire dot com
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