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Forex Made Millionaire Thread for Blog Swing Trades

  • #201
  • Feb 7, 2016 6:41pm Feb 7, 2016 6:41pm
Quoting FSUtrader
Anyone make a move on the USD/CAD yet? I'm going to wait on till the close of this candle...
I'm selling here (~1.3885)... I'm really liking the price action we're seeing here to start the week. The 5-minute looks like it wants to rollover and it's giving us a good, tight stop loss (~1.3930) opportunity. I'm targeting 1.3550.
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  • #202
  • Feb 7, 2016 6:44pm Feb 7, 2016 6:44pm
I'm also buying GBP/JPY here. The 5-minute 50 and 100 moving averages have crossed over the 200:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-02-07 16.42.28.png Size: 137 KB


We should see at least 170.25-170.50 and if we can get a 50 ma crossing over the 100 ma on the 15-minute we could see 171.50 and higher. Basically, taking these hoping we chop that wood I was talking about in the weekly outlook.
check out my blog: forexmademillionaire dot com
  • #203
  • Feb 7, 2016 8:40pm Feb 7, 2016 8:40pm
Quoting Geppy
I'm also buying GBP/JPY here. The 5-minute 50 and 100 moving averages have crossed over the 200: {image} We should see at least 170.25-170.50 and if we can get a 50 ma crossing over the 100 ma on the 15-minute we could see 171.50 and higher. Basically, taking these hoping we chop that wood I was talking about in the weekly outlook.
Looking good on this one so far, gang. I've set my TP for 171.18 -- seems reasonable.
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  • #204
  • Feb 7, 2016 10:00pm Feb 7, 2016 10:00pm
Really good sign here on the 5-minute GBP/JPY chart. Price came down and bounced off the 50 bar moving average. Once we trade over 170.20 it should be a clear shot to our 171.18 TP.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-02-07 19.59.41.png Size: 164 KB
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  • #205
  • Feb 7, 2016 10:09pm Feb 7, 2016 10:09pm
Looks nice on 15m too
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-02-07 at 11.07.50 PM.png Size: 312 KB
  • #206
  • Feb 7, 2016 10:19pm Feb 7, 2016 10:19pm
Quoting FSUtrader
Looks nice on 15m too {image}
It is, for sure. I'm waiting for that 50 to cross the 100 there. Definitely de-risks it a fair amount once that happens.
check out my blog: forexmademillionaire dot com
  • #207
  • Feb 7, 2016 10:51pm Feb 7, 2016 10:51pm
The GBP/JPY 5-minute timeframe is behaving wonderfully. We just cleared the previous highs and traded nicely through 170.20

The next obstacle is getting above the 200 ma on the 15-minute chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-02-07 20.48.47.png Size: 157 KB


above 170.50 basically clears the way for a retest of the gold resistance line you see there (and mentioned in the weekly outlook). That could happen somewhere in the mid 171's but again, I'm taking this trade off at 171.18 -- I'm treading lightly because of all the resistance we have just above us. Planning to observe PA up at those levels and determine the next move.
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  • #208
  • Feb 7, 2016 11:15pm Feb 7, 2016 11:15pm
smashed through 200ma like nothing
  • #209
  • Feb 7, 2016 11:43pm Feb 7, 2016 11:43pm
Quoting FSUtrader
smashed through 200ma like nothing
Love it! Should be good for the 171.18 target as long as we stay patient. Should be easy, I'm heading to bed for the night.

USD/CAD is starting to look weak too. I wouldn't be surprised to see it in the low 1.38's by morning.

See you all then!
check out my blog: forexmademillionaire dot com
  • #210
  • Feb 7, 2016 11:59pm Feb 7, 2016 11:59pm
don't really think ucad will drop as predicted, I think we are in for pull back.
Quoting Geppy
{quote} I'm selling here (~1.3885)... I'm really liking the price action we're seeing here to start the week. The 5-minute looks like it wants to rollover and it's giving us a good, tight stop loss (~1.3930) opportunity. I'm targeting 1.3550.
  • #211
  • Feb 8, 2016 12:17am Feb 8, 2016 12:17am
Quoting davyman003
don't really think ucad will drop as predicted, I think we are in for pull back.{quote}
Depends on oil action. If the oil prints 30.50 and below we are in for higher U/CAD
  • #212
  • Feb 8, 2016 12:54am Feb 8, 2016 12:54am
Quoting charron
{quote} Depends on oil action. If the oil prints 30.50 and below we are in for higher U/CAD
Plenty of time for it to pull back with some consolidation between now and then..
Que Sera
  • #213
  • Feb 8, 2016 12:58am Feb 8, 2016 12:58am
Thanks Geppy...
Attached Image
We err, and err, and err again, but less.
  • #214
  • Feb 8, 2016 3:16am Feb 8, 2016 3:16am
looking good
  • #215
  • Feb 8, 2016 4:01am Feb 8, 2016 4:01am
Closed my USD / CAD short manually at B/E... with oil plumetting, might re enter if it tests the 50MA
Que Sera
  • #216
  • Feb 8, 2016 6:26am Feb 8, 2016 6:26am
Quoting mr305
{quote} i typically use a combination of BB bands, RSI, and MACD on an daily and hourly timeframe, and right now they confirm everything you say. should be support around 169.8 within the next day or two. maybe it'll hold but, if it doesn't, it could be a quick trip to 165-166.
and i'm free...free fallin'
  • #217
  • Feb 8, 2016 6:34am Feb 8, 2016 6:34am
Feb 21 2014 Low 163.867 Jan 17 2016 Low 163.972. If GBP/JPY is holding that Level, we can expect an upturn.

Trade well
  • #218
  • Feb 8, 2016 6:34am Feb 8, 2016 6:34am
Quoting mr305
{quote} and i'm free...free fallin'
Oh no everything has gone pair shaped, feeling the pain, now where ?
  • #219
  • Feb 8, 2016 7:25am Feb 8, 2016 7:25am
Quoting steveyd78
{quote} Oh no everything has gone pair shaped, feeling the pain, now where ?
i'm an amateur; had my trailing stop triggered 50 pips ago. going to wait for an opportunity to go short again. on the sidelines for now.
  • #220
  • Feb 8, 2016 7:47am Feb 8, 2016 7:47am
Hey gang, I'm headed to the gym in a minute but wanted to hop on real quick first.

I hope everyone traded with a stop loss last night. I know I did. My GBP/JPY closed out with a measly 5 pips profit

Oh well, the most frustrating thing is missing out on 200+ pips to the downside.

USD/CAD is a bit higher this morning and I'm selling a bit more here. I'm also buying my first bit of EUR/USD as per our trade plan in the weekly outlook.

Although things look nasty this morning, USD/JPY has not broken daily support and none of the other pairs have really broken out to a point where I'd say the trades are invalid.

GBP/JPY is a bit tougher. I'm not a seller at these levels, but it's hard to be a buyer too. That being said, if I look at USD/JPY and GBP/USD I'd rather buy than sell. So an argument could be made for buying GBP/JPY here. Price is also seemingly finding a bottom here where it did on January 25th.
check out my blog: forexmademillionaire dot com
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