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Forex Made Millionaire Thread for Blog Swing Trades

  • #1,401
  • Feb 23, 2016 6:52pm Feb 23, 2016 6:52pm
yeah honestly I had a ton of unrealized gains and figured I'd just start over with a new, small position. Alternative was to keep some on but then I'd be inclined to keep my stop wider since the remaining position would be so far in the money.

This way I can start again and manage risk. Been a phenomenal week for me already.
check out my blog: forexmademillionaire dot com
  • #1,402
  • Feb 23, 2016 6:52pm Feb 23, 2016 6:52pm
Quoting Pip-Miner
what are the teams thoughts on usdcad . Agree on retrace due on gbp pairs
I'm remote so no charts. But I'm starting to think testing the waters with longs may be in order.
check out my blog: forexmademillionaire dot com
  • #1,403
  • Feb 23, 2016 7:04pm Feb 23, 2016 7:04pm
Quoting Geppy
{quote} I'm remote so no charts. But I'm starting to think testing the waters with longs may be in order.
Looks like. I have a pending order to long, with a tight stop and a decent target.

Attached Image (click to enlarge)
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  • #1,404
  • Feb 23, 2016 7:07pm Feb 23, 2016 7:07pm
Quoting Geppy
yeah honestly I had a ton of unrealized gains and figured I'd just start over with a new, small position. Alternative was to keep some on but then I'd be inclined to keep my stop wider since the remaining position would be so far in the money. This way I can start again and manage risk. Been a phenomenal week for me already.
Yea i could have got a whole lot more if i could on get my confidence up to stay in the trade longer rather than jumping out and waiting for a new entry. I think it just because i have such a small account at the moment but its growing slowly.
Are you staying short GBP/JPY Geppy or waiting for a retracement to get back in. Just when i closed i decided to go long hopefully to around 157.75 - 157.85 resistance area on the hourly charts then see where it wants to go then ??
Whats your thoughts mate ?
  • #1,405
  • Feb 23, 2016 7:09pm Feb 23, 2016 7:09pm
Quoting Pip-Miner
what are the teams thoughts on usdcad . Agree on retrace due on gbp pairs
I think USDCAD will retrace to 1.39 because Saudi minister just poured cold water on oil today. oil likely to drop 27 and change within this week
  • #1,406
  • Feb 23, 2016 7:26pm Feb 23, 2016 7:26pm
Quoting charron
{quote} I think USDCAD will retrace to 1.39 because Saudi minister just poured cold water on oil today. oil likely to drop 27 and change within this week
Interesting , in not convinced due to Geppy comments Overall, we are hoping to grab long-term longs in USD/CAD. But the pair has not been mirroring oil as much as it has in the past. For instance, oil traded at new lows just last week but USD/CAD remains 1,000+ pips off its previous highs.
seems to have strong support still from 130-130.20 so decided to hold my shorts for now
  • #1,407
  • Feb 23, 2016 7:28pm Feb 23, 2016 7:28pm
Quoting Pip-Miner
{quote} Interesting , in not convinced due to Geppy comments Overall, we are hoping to grab long-term longs in USD/CAD. But the pair has not been mirroring oil as much as it has in the past. For instance, oil traded at new lows just last week but USD/CAD remains 1,000+ pips off its previous highs. seems to have strong support still from 130-130.20 so decided to hold my shorts for now
138-138.20 sorry
  • #1,408
  • Feb 23, 2016 8:07pm Feb 23, 2016 8:07pm
Quoting wtmckee
There's another trendline here that it bounced off of nicely... That and the 80ma. She may hold up. I am adding a small short. {image}
noticed that trendline too , just got back in short 13805 stop 13822 but i really wanna see it stay under 13808, already closed 1/2 for -5 pips. think we might see 13870
  • #1,409
  • Feb 23, 2016 8:25pm Feb 23, 2016 8:25pm
Quoting spartanforex
{quote} noticed that trendline too , just got back in short 13805 stop 13822 but i really wanna see it stay under 13808, already closed 1/2 for -5 pips. think we might see 13870
Looks like it's testing that TL again, now.
I'm out of my UC with a minor loss.
I'm out of GY with a good gain.
Here's the UC... I think Long... just not tonight...
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  • #1,410
  • Feb 23, 2016 8:45pm Feb 23, 2016 8:45pm
if you get out and in all the time your not a swing trader and don't belong here..
  • #1,411
  • Feb 23, 2016 9:55pm Feb 23, 2016 9:55pm
Quoting JustUsePrice
GBPUSD is hitting the big ass round number of 1.4000 It might be time for a nice bounce up
1.39 vulnerable for now but yes I'd like to see it break above 1.40 so we can see a sizable retrace.
L.S./M.F.T.
  • #1,412
  • Feb 23, 2016 9:59pm Feb 23, 2016 9:59pm
Quoting Geppy
{quote} I'm remote so no charts. But I'm starting to think testing the waters with longs may be in order.
I'd like to see a convincing bullish candle on daily or bullish engulfing on 4hr to start testing the waters. Oscillators lining up as well. I agree, longs are due very soon.
L.S./M.F.T.
  • #1,413
  • Feb 23, 2016 10:43pm Feb 23, 2016 10:43pm
looking at a weekly chart the current down trend on USD/CAD is really not more than a speed bump on the longer term up trend-a retrace down to 1.3450 would just be a 23.6% fib level--which is not a true fib number--but a 134.50 there is a s/r level-- but we could very well be setting up for a retest of the highs--personally I am favoring longs at this point --flat right now --possible resistance upside at 1.3900 where the 200sma comes in on the 4h chart
  • #1,414
  • Feb 23, 2016 11:20pm Feb 23, 2016 11:20pm
Hey gang, I'm about to turn in for the night... early, but been a long day.

I've re-established some smaller positions in GBP/USD and GBP/JPY (both shorts, obviously). I've also taken some longs in USD/CAD with a tight stop. That could be too early, but I like the smaller time frames and I'm taking a flier on it.

Here are my average positions as of now. USD/JPY is doing well obviously and that trade is protected with a stop loss that's a few pips profit. So planning on letting that one run its course yet:

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check out my blog: forexmademillionaire dot com
  • #1,415
  • Feb 24, 2016 12:30am Feb 24, 2016 12:30am
Quoting Pip-Miner
what are the teams thoughts on usdcad . Agree on retrace due on gbp pairs
USDCAD currently @13800, I will look to buy around 13750-70. SL 13650, 1st TP with half the position @14000.
  • #1,416
  • Feb 24, 2016 1:28am Feb 24, 2016 1:28am
So, what's the latest on G/J? Will it bounce downward from the T/L (orange)??
It's moving so quickly that by the time anyone sees this it likely would have already happened
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  • #1,417
  • Feb 24, 2016 1:29am Feb 24, 2016 1:29am
think eu cover the positions when it opens
  • #1,418
  • Edited 1:54am Feb 24, 2016 1:33am | Edited 1:54am
Market sediment is still bearish given the uncertainty with the Brexit. However these are uncertain times and if you are not used to trading this level of volatility I would strongly caution your approach. That being said I've highlighted key levels I'm looking at for my current long position (provided we stay above 156.44) and that is the 158.11 lvl and the Monthly 50 day.
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the market can remain irrational longer than you can remain solvent
  • #1,419
  • Feb 24, 2016 1:48am Feb 24, 2016 1:48am
Quoting Bill618
So, what's the latest on G/J? Will it bounce downward from the T/L (orange)?? It's moving so quickly that by the time anyone sees this it likely would have already happened {image}
I have trend line slightly higher and it's bounced away from that line, as you said gbp/jpy is moving fast and might retrace by the time i posts this lol
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Don't Leave Money on the Table
  • #1,420
  • Feb 24, 2016 1:51am Feb 24, 2016 1:51am
Quoting Rad168
{quote} USDCAD currently @13800, I will look to buy around 13750-70. SL 13650, 1st TP with half the position @14000.
Looks like I'm under attack , still holding those usdcad shorts , 138.20 not breached yet . The retrace on gbp pairs well due as oversold in my opinion.
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