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Forex Made Millionaire Thread for Blog Swing Trades

  • #341
  • Feb 9, 2016 4:50pm Feb 9, 2016 4:50pm
My CCI is set at 100, shows divergence, which is what oscillators do during the trend, but if it turns green,
then I'd consider gj a buy
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 80 KB
  • #342
  • Feb 9, 2016 4:53pm Feb 9, 2016 4:53pm
Quoting mr305
anyone else see the inverse h&s developing on the hourly chart or is it just me?
I think you'd be really pushing it trying to make out any type of H&S formation there. Just my opinion though.
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  • #343
  • Feb 9, 2016 4:57pm Feb 9, 2016 4:57pm
Quoting lietuve
My CCI is set at 100, shows divergence, which is what oscillators do during the trend, but if it turns green, then I'd consider gj a buy {image}
Let's be careful here. I appreciate the analysis, but a lot of people are learning here and don't know better... what you have shown is not divergence.

Your red line you've drawn on price is not the same time as the green line you drew on CCI. If you match the price bars to the CCI ones it's clear that CCI was indeed trending down when price was going lower.

Price is now moving higher and so is CCI. That makes sense.

What you've done on your chart is depicted the direction of price while CCI was moving down along with the direction of CCI while price was moving up.
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  • #344
  • Feb 9, 2016 4:58pm Feb 9, 2016 4:58pm
Quoting Geppy
{quote} I think you'd be really pushing it trying to make out any type of H&S formation there. Just my opinion though.
you're probably right. i've been staring at my screen too long.

what are your thoughts on audjpy? looks like a short term bottom may have been put in this morning.
  • #345
  • Feb 9, 2016 5:06pm Feb 9, 2016 5:06pm
Quoting mr305
{quote} you're probably right. i've been staring at my screen too long. what are your thoughts on audjpy? looks like a short term bottom may have been put in this morning.
I don't trade it. But I'd have the same bias there as I have with Yen in general... I think Yen strengthens in the short term (negative for AUD/JPY).
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  • #346
  • Feb 9, 2016 6:11pm Feb 9, 2016 6:11pm
Do you think now would be a good time to jump into a short USD/JPY ? are you still in yours Geppy ? Im being cautious with it today but looks ready for a good move down now on the 15 min chart
  • #347
  • Feb 9, 2016 6:25pm Feb 9, 2016 6:25pm
Quoting steveyd78
Do you think now would be a good time to jump into a short USD/JPY ? are you still in yours Geppy ? Im being cautious with it today but looks ready for a good move down now on the 15 min chart
Hey steveyd, I'm not in a USD/JPY trade simply because I've already got my Yen exposure with my GBP/JPY shorts.

Remember, this is a swing trading thread so we're targeting some bigger moves which also means (especially if trading GBP/JPY) bigger stop losses. So consider taking smaller positions or ones that would coincide with tolerable risk on a reasonable stop loss.

I like GBP/JPY shorts with a stop at ~167.50

I'm looking for an initial target of 157.00 and if I'm feeling really saucy, somewhere around 153.50 or so.

Sounds crazy, yes... but don't count it out.
check out my blog: forexmademillionaire dot com
  • #348
  • Feb 9, 2016 6:40pm Feb 9, 2016 6:40pm
Quoting Geppy
{quote} Hey steveyd, I'm not in a USD/JPY trade simply because I've already got my Yen exposure with my GBP/JPY shorts. Remember, this is a swing trading thread so we're targeting some bigger moves which also means (especially if trading GBP/JPY) bigger stop losses. So consider taking smaller positions or ones that would coincide with tolerable risk on a reasonable stop loss. I like GBP/JPY shorts with a stop at ~167.50 I'm looking for an initial target of 157.00 and if I'm feeling really saucy, somewhere around 153.50 or so. Sounds crazy, yes......
Sorry my bad i actually meant GBP/JPY . i took a short and its looking goos so far. I will stick with you on this one
  • #349
  • Feb 9, 2016 7:00pm Feb 9, 2016 7:00pm
Nice hourly candle... just closed to engulf the last five hours of bullish candles.
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  • #350
  • Feb 9, 2016 7:16pm Feb 9, 2016 7:16pm
Quoting Geppy
Nice hourly candle... just closed to engulf the last five hours of bullish candles.
It looks like a lower low on the cards if it makes it past 146.60, at last im on the right side of it after yesterdays episodes lol
  • #351
  • Feb 9, 2016 7:16pm Feb 9, 2016 7:16pm
Quoting Geppy
{quote} I don't trade it. But I'd have the same bias there as I have with Yen in general... I think Yen strengthens in the short term (negative for AUD/JPY).
i hope you're right man. just got stopped out of a long position and immediately went short big.
  • #352
  • Feb 9, 2016 7:23pm Feb 9, 2016 7:23pm
Quoting mr305
{quote} i hope you're right man. just got stopped out of a long position and immediately went short big.
Hopefully not too big. I tend to make that mistake sometimes and I always have a bad night of sleep when I do.
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  • #353
  • Feb 9, 2016 8:17pm Feb 9, 2016 8:17pm
WTF just happened to drive GJ up so quickly?? WOW up 70 points in 5 minutes .. must be the BOJ people talking BS again .. I reckon this won't last long
  • #354
  • Feb 9, 2016 8:37pm Feb 9, 2016 8:37pm
Quoting JustUsePrice
WTF just happened to drive GJ up so quickly?? WOW up 70 points in 5 minutes .. must be the BOJ people talking BS again .. I reckon this won't last long
holy shit, that candle just broke my soul. accidentally had a stop loss for only HALF my position. this shit isn't fun anymore.
  • #355
  • Feb 9, 2016 8:40pm Feb 9, 2016 8:40pm
Quoting mr305
{quote} holy shit, that candle just broke my soul. accidentally had a stop loss for only HALF my position. this shit isn't fun anymore.
Gah its a slaughter today
  • #356
  • Feb 9, 2016 9:10pm Feb 9, 2016 9:10pm
Quoting mr305
{quote} holy shit, that candle just broke my soul. accidentally had a stop loss for only HALF my position. this shit isn't fun anymore.
Intervention can take many forms There's 'jawboning' - talking about a currency to influence the direction There's actively going to the market and buying/selling to push the rate and stop a few speculators out (there are different ways of doing this) In between those two there is the simple act of the central bank (in this case the BOJ) calling up some interbank dealers at the banks and asking for a 'check' on where the price is. This is often enough to trigger buying (of USD/JPY in this case). This is what just happened according to what I've heard.
  • #357
  • Feb 9, 2016 9:10pm Feb 9, 2016 9:10pm
LOL, you guys are killing me

It was a little BoJ intervention according to rumors. If you guys were actually swing trading this it wouldn't have mattered to you one bit.
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  • #358
  • Feb 9, 2016 9:12pm Feb 9, 2016 9:12pm
Quoting Mm8
{quote} Intervention can take many forms There's 'jawboning' - talking about a currency to influence the direction There's actively going to the market and buying/selling to push the rate and stop a few speculators out (there are different ways of doing this) In between those two there is the simple act of the central bank (in this case the BOJ) calling up some interbank dealers at the banks and asking for a 'check' on where the price is. This is often enough to trigger buying (of USD/JPY in this case). This is what just happened according to what...
At least give credit where credit is due, man...

http://news.forexlive.com/!/usdjpy-b...rates-20160210
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  • #359
  • Feb 9, 2016 9:18pm Feb 9, 2016 9:18pm
I know this is aimed at swing trading but my preferred trading style suits intraday or a few days max. I still can't stomach watching the swings at this point honestly. For me I use this thread/blog more as a road map and try to stick with it.
  • #360
  • Feb 9, 2016 9:19pm Feb 9, 2016 9:19pm
Quoting FSUtrader
I know this is aimed at swing trading but my preferred trading style suits intraday or a few days max. I still can't stomach watching the swings at this point honestly. For me I use this thread/blog more as a road map and try to stick with it.
Swing trades can go just for a few days. They don't have to be weeks long.
check out my blog: forexmademillionaire dot com
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