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Forex Made Millionaire Thread for Blog Swing Trades

  • #601
  • Feb 14, 2016 5:43pm Feb 14, 2016 5:43pm
Hi Geppy
Hope you were good to your wife.......Valentines Day and all

Here is my chart for GBP/JPY I have a limit Sell order at 165.135 being the top of the channel and intersection of trend line with tight stop at 165.60. Then further sell orders at bottom of channel to catch the mega fall to target of 156.00

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  • #602
  • Feb 14, 2016 5:46pm Feb 14, 2016 5:46pm
Quoting LittleDoc
What do you guys mean with "swap" short?
Small fee or credit for holding a position during daily close at 10PM GMT. Impacts equity while trade is open and works into balance when closing.
  • #603
  • Feb 14, 2016 6:12pm Feb 14, 2016 6:12pm
Quoting Good Lookin
I feel a little mixed about GJ shorting. I still want to see some rejection but i did put on 1 position due to the how it looks. Whats speculation without a little speculation eh?
Haha, true that!
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  • #604
  • Feb 14, 2016 6:14pm Feb 14, 2016 6:14pm
Bought some EUR/USD with a stop below the 200 hour moving average as per the weekly outlook.
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  • #605
  • Feb 14, 2016 6:18pm Feb 14, 2016 6:18pm
Quoting LittleDoc
What do you guys mean with "swap" short?

It's the interest you pay for an overnight hold of the position. If the funding currency has a higher interest rate than the currency you are buying, then you pay interest. If it's the other way around, then you get paid the interest. The latter is called a carry trade. But with ZIRP and NIRP, those glory days are long gone.

Q
  • #606
  • Feb 14, 2016 6:20pm Feb 14, 2016 6:20pm
Quoting Quinton
{quote} It's the interest you pay for an overnight hold of the position. If the funding currency has a higher interest rate than the currency you are buying, then you pay interest. If it's the other way around, then you get paid the interest. The latter is called a carry trade. But with ZIRP and NIRP, those glory days are long gone. Q
I remember back in the day I'd get like $40 for holding one standard lot of GBP/JPY overnight. Man!
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  • #607
  • Feb 14, 2016 6:29pm Feb 14, 2016 6:29pm
Quoting Geppy
{quote} I remember back in the day I'd get like $40 for holding one standard lot of GBP/JPY overnight. Man!
Don't I know it. These days you'd need to get cozy with RUB or ZAR or other illiquids just to get to that and take on a tone of risk doing so.
  • #608
  • Feb 14, 2016 7:52pm Feb 14, 2016 7:52pm
Kinda quiet in here.

Still seeing GBPJPY follow the uptrend so I went long at the last bottom and it's doing alright.
  • #609
  • Feb 14, 2016 8:02pm Feb 14, 2016 8:02pm
Quoting Rurozan
Kinda quiet in here. Still seeing GBPJPY follow the uptrend so I went long at the last bottom and it's doing alright.
Yeah, not much going on to be honest. I'm doing a bunch of cooking for my lunches for the week

I wouldn't trust longs right now, but that could just be my short bias speaking. I'm not one to buy into a wall of resistance. We'll see what the next few hours bring.

The Shanghai Composite is down about 2% but off its lows. I'm actually surprised to see GBP/JPY higher considering that.
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  • #610
  • Feb 14, 2016 8:40pm Feb 14, 2016 8:40pm
Data out of China was just U-G-L-Y -- http://news.forexlive.com/!/china-ja...terms-20160215

This should be bad for equities and bad for "risk" based trades which means GBP/JPY would head lower. Oddly, not seeing that yet.
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  • #611
  • Feb 14, 2016 9:44pm Feb 14, 2016 9:44pm
Quoting Geppy
{quote}I wouldn't trust longs right now, but that could just be my short bias speaking.
Yeah, started to stall so I got out with 70 pips.
  • #612
  • Feb 14, 2016 9:53pm Feb 14, 2016 9:53pm
Hey gang, got stopped out at 165.15 and decided to flip to longs. Doesn't feel right but it's what PA is telling me. Keeping the stop tight.
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  • #613
  • Feb 14, 2016 9:55pm Feb 14, 2016 9:55pm
sold gbp/jpy @ 165.39 looking for a re-test of the recent low of 159.78. longer term a low of 156.50 might be on the table
  • #614
  • Feb 14, 2016 10:30pm Feb 14, 2016 10:30pm
Quoting TrendDiscipl
Hi Geppy Hope you were good to your wife.......Valentines Day and all Here is my chart for GBP/JPY I have a limit Sell order at 165.135 being the top of the channel and intersection of trend line with tight stop at 165.60. Then further sell orders at bottom of channel to catch the mega fall to target of 156.00 {image}
Got stopped out, and I thought I was being really clever...bah
  • #615
  • Feb 14, 2016 10:37pm Feb 14, 2016 10:37pm
GBP/JPY could roll over here soon. I see some nice CCI divergence for one. Coupled with overlaping fibs and resistance from our upper trend line.
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  • #616
  • Feb 14, 2016 10:39pm Feb 14, 2016 10:39pm
GBP/JPY Long at 165.48 TP is 167.0 SL at 165.0

My analysis - MACD, CCI. & RSI are all saying long Hope I am right.
  • #617
  • Feb 14, 2016 10:43pm Feb 14, 2016 10:43pm
78.6 of the downmove from 2-10 to 2-11 is right before 166.0, may have some action there.
  • #618
  • Feb 14, 2016 10:48pm Feb 14, 2016 10:48pm
Quoting Geppy
Hey gang, got stopped out at 165.15 and decided to flip to longs. Doesn't feel right but it's what PA is telling me. Keeping the stop tight.
Still in; hanging onto my Shorts for now (for now). Price-action is compelling, but so is the Analysis.

Will bail out if Upper Channel gets taken out

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  • #619
  • Feb 14, 2016 10:55pm Feb 14, 2016 10:55pm
I'm flat and looking at potential shorts. Gotta take a step back and not over trade here.
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  • #620
  • Feb 14, 2016 11:14pm Feb 14, 2016 11:14pm
Quoting krismitt
{quote} Still in; hanging onto my Shorts for now (for now). Price-action is compelling, but so is the Analysis. Will bail out if Upper Channel gets taken out {image}
You're right Kris. The analysis is sound and we haven't broken through the upper bound of the channel... so that does say something. The resilience is getting annoying though
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