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Forex Made Millionaire Thread for Blog Swing Trades

  • #981
  • Feb 18, 2016 2:53pm Feb 18, 2016 2:53pm
G/J 1h wedge breaking south
Attached Image (click to enlarge)
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MarK
  • #982
  • Edited 3:14pm Feb 18, 2016 3:00pm | Edited 3:14pm
Quoting Mr0791
G/J 1h wedge breaking south {image}
Still needs to break support @ 162.207 and 161.8 (Previous Bullish engulfing pattern) once it breaks then happy days! Also notice below 15min hammer after "diagonal breakout" + Stoch is over sold.
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  • #983
  • Feb 18, 2016 3:16pm Feb 18, 2016 3:16pm
Quoting Striker314
Hi Geppy, Currently, I am a 4 month old noob trader... I trade the crosses and comdolls. I have been reluctant to hold long trades.. noob fear and all lol. I took your advise last Sunday.. set up GBP/JPY weekly short 161.250, I didn't like the way it was moving through so I closed early at 161.831 ....took some profit ($35.00) better than zero! ... patience is my next hurdle. Your TA/FA is much like mine. This has somewhat relieved that "fear factor" Thanks for your insight and continued success to you. Striker
Hey, Striker! Not sure how you sold lower than you re-bought at and managed to make money, but I assume that was a typo on the first one

Glad you've found our humble little thread.
check out my blog: forexmademillionaire dot com
  • #984
  • Feb 18, 2016 3:16pm Feb 18, 2016 3:16pm
Quoting tundeapt
Geppy has really boosted my confidence in holding winning trades, cos i used to opt out of trades after analysing possible targets which most times are actually correct. Thank you geppy for restoring my confidence.
Confidence is definitely a big part of things, tundeapt. Glad this thread is helping you refine your trading!
check out my blog: forexmademillionaire dot com
  • #985
  • Feb 18, 2016 3:23pm Feb 18, 2016 3:23pm
Hey gang,

As you can see, I've got a little break here between meetings today. GBP/JPY PA is looking good like Mr0791 and Evilzim have pointed out already. Seems we're really putting some pressure on that trend line support. I wish the trade was developing faster but I'm not complaining... we're still doing quite well with our position.

In terms of USD/CAD, I would have been filled on shorts had I readjusted my orders to the more accurate fib retracement. Price traded slightly lower than yesterday and I failed to redo my chart and change my orders. I still think I have a shot of getting filled though now that I've adjusted.

People seem to be getting increasingly interested in EUR/USD. I don't like a trade there quite yet, but if I had to pick a side I'd be on the short end for now. I've got some thoughts on that pair and a trade I see developing there in the weekly outlook I'll be writing this weekend.
check out my blog: forexmademillionaire dot com
  • #986
  • Feb 18, 2016 3:32pm Feb 18, 2016 3:32pm
USD/CAD I see a short position around 1.3817 with a 40 pip stop loss, looking for 150 pip gain. Would not enter trade without confirmation from CCI.
  • #987
  • Edited 3:55pm Feb 18, 2016 3:38pm | Edited 3:55pm
LOL ok you got me.... Binary Option. I bought my "sold" contacts back at lower price

Simply not ready to deal with "pipmania", MT4 scares me more than Yellen and all the others.

Someday, I will make that jump, but not yet..I,m way to green and don't want to end in RED!!!

It ranged just enough to grab that profit..

Contract: GBP/JPY >161.25 (3PM)
Expiration: Fri Feb 19 15:00:00 EST 2016
Direction: SELL
Quantity: 5
Price: 75.25

Contract: GBP/JPY >161.25 (3PM)
Expiration: Fri Feb 19 15:00:00 EST 2016
Direction: BUY
Quantity: 5
Price: 68.25

Keep up great works

Striker
  • #988
  • Feb 18, 2016 4:19pm Feb 18, 2016 4:19pm
Sorry to wuss out but I closed my shorts GJ and UCAD for now. After trading only for a month or so this is the first week I had a strategy of sorts and stuck to it (of sorts). A lot of mistakes and learning along the way; especially about (mis)placement of stops. I am in the UK and thinking a lot about the EU summit at the moment. Pretty much a forgone conclusion that they will strike a deal and its making me nervous that this could be bullish for GBP. Happy to close down on my first week with decent percentage profit.

For those of you continuing on the ride I sincerely hope it takes you to where you plan. I will be back for more next week. Thanks to Geppy and all. Great thread.
  • #989
  • Feb 18, 2016 5:10pm Feb 18, 2016 5:10pm
Quoting Striker314
LOL ok you got me.... Binary Option. I bought my "sold" contacts back at lower price Simply not ready to deal with "pipmania", MT4 scares me more than Yellen and all the others. Someday, I will make that jump, but not yet..I,m way to green and don't want to end in RED!!! It ranged just enough to grab that profit.. Contract: GBP/JPY >161.25 (3PM) Expiration: Fri Feb 19 15:00:00 EST 2016 Direction: SELL Quantity: 5 Price: 75.25 Contract: GBP/JPY >161.25 (3PM) Expiration: Fri Feb 19 15:00:00 EST 2016 Direction: BUY Quantity: 5 Price: 68.25 Keep...

@Striker314, would you not be in a loss either way then?
If GJ was > 161.25 at expiration you would win the BUY but lose on the SELL... and if GJ was < 161.25 you would win on the SELL but lose on the BUY.
Either way, taking into account the cost of the trades, would you not be at a loss overall?

I've been looking at binary options lately but still can't get my head round hedged trads.

Geppy, sorry to go off topic...

Thanks
  • #990
  • Feb 18, 2016 5:32pm Feb 18, 2016 5:32pm
Couple facts about GBP/JPY today:

 

  1. Today's closing price (162.235) was the lowest close since November 20th, 2013
  2. Today's closing price (162.235) was below the weekly 200-bar moving average (162.755)
  3. Moving averages on the daily, 4-hour, and 1-hour charts are all purely aligned in a downtrend
  4. The average weekly range (high to low) of the last 10 weeks has been 561 pips; this week is currently at 452 pips

That is all

check out my blog: forexmademillionaire dot com
  • #991
  • Feb 18, 2016 5:58pm Feb 18, 2016 5:58pm
Quoting Geppy
Couple facts about GBP/JPY today: Today's closing price (162.235) was the lowest close since November 20th, 2013 Today's closing price (162.235) was below the weekly 200-bar moving average (162.755) Moving averages on the daily, 4-hour, and 1-hour charts are all purely aligned in a downtrend The average weekly range (high to low) of the last 10 weeks has been 561 pips; this week is currently at 452 pips That is all
how low you think she will go Geppy long term as plan to hold this as long possible
  • #992
  • Feb 18, 2016 6:08pm Feb 18, 2016 6:08pm
Quoting Pip-Miner
{quote} how low you think she will go Geppy long term as plan to hold this as long possible
I've been calling for 156.50 initially, but I'm watching this blue trend line too, which comes in a bit higher than that target:

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I'm going to play it all by ear though. Got a feeling that this thing could really get going. Maybe it won't be in this push, but one of these is gonna be a big one.
check out my blog: forexmademillionaire dot com
  • #993
  • Feb 18, 2016 6:13pm Feb 18, 2016 6:13pm
I saw that to about 2013 on 1D chart...i do hope it trends down.

As for Options, the base can range up/down from 20pts to 300pt, depending on time frame. with a 1 week expiry, it fell into 300pt range. If the trade closed below 161.25 at expiry, it had a potential payout of $490.00...my cost was total $123.75 alas... i choose the less greedy path... #1 lesson I seemed to have learned..."take it when you can get it"

I to apologize for the off platform topic...but with this forum, Geppy has shown me the benefits of long term swings and proper TA. for which I am grateful to be included.

Striker
  • #994
  • Feb 18, 2016 6:15pm Feb 18, 2016 6:15pm
this is how see the next short for cable ( usdcad) any thoughts much appreciated for confirmation
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  • #995
  • Feb 18, 2016 6:16pm Feb 18, 2016 6:16pm
Quoting Pip-Miner
this is how see the next short for cable ( usdcad) any thoughts much appreciated for confirmation {image}
Confusing.

Cable is used to refer to GBP/USD

USD/CAD is the Loonie.
check out my blog: forexmademillionaire dot com
  • #996
  • Feb 18, 2016 6:19pm Feb 18, 2016 6:19pm
Quoting Geppy
{quote} Confusing. Cable is used to refer to GBP/USD USD/CAD is the Loonie.
lol sorry USDCAD
  • #997
  • Feb 18, 2016 6:33pm Feb 18, 2016 6:33pm
Quoting Pip-Miner
{quote} lol sorry USDCAD
Well in that case...

I stacked two limit orders for USD/CAD shorts on the 38.6% and 50% fib retracement levels from yesterday's move down. I was just filled on the one sitting on the 38.6% and hoping to get the 50% too. We'll see.

Attached Image (click to enlarge)
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  • #998
  • Feb 18, 2016 6:40pm Feb 18, 2016 6:40pm
Quoting Evilzim
{quote} Still needs to break support @ 162.207 and 161.8 (Previous Bullish engulfing pattern) once it breaks then happy days! Also notice below 15min hammer after "diagonal breakout" + Stoch is over sold. {image}
G/J
support @ 162.207 cleared going towards 161.8
MarK
  • #999
  • Feb 18, 2016 6:54pm Feb 18, 2016 6:54pm
Quoting Mr0791
{quote} G/J support @ 162.207 cleared going towards 161.8
Let's do this!
check out my blog: forexmademillionaire dot com
  • #1,000
  • Feb 18, 2016 6:59pm Feb 18, 2016 6:59pm
Quoting Striker314
As for Options, the base can range up/down from 20pts to 300pt, depending on time frame. with a 1 week expiry, it fell into 300pt range. If the trade closed below 161.25 at expiry, it had a potential payout of $490.00...my cost was total $123.75 alas... i choose the less greedy path... #1 lesson I seemed to have learned..."take it when you can get it"
@Striker314 Thanks buddy
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