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Forex Made Millionaire Thread for Blog Swing Trades

  • #1,481
  • Feb 24, 2016 2:45pm Feb 24, 2016 2:45pm
Quoting Good Lookin
{quote} I am not confused. Monthly is an abstract idea for my type of trading. I don't hold positions through 200+ pip swings that last weeks. Also, i'm well aware of what economies import and export, kinda why i mentioned it . I mentioned earlier that i'm bullish above 3660 and bearish below. Take a look at this chart. {image} Daily is not noisy at all actually. There's a channel that has developed between 3850 and 3660. You can see 2 times prior there have been sharp moves to the downside that were pushed back. Taking shorts before seeing...
I have most of my shorts on 1.39 area after the close of last month. I have a lot of positions though I have made nice amount of money on the range you mentioned but I was covering some of my shorts and shorting again on the upper range .
I have never went long cox my convince that it is a downtrend now .
Although I am a swing trader but I also play the long term . I am doing this now with CAD & OIL.
  • #1,482
  • Feb 24, 2016 2:48pm Feb 24, 2016 2:48pm
Quoting Mr0791
{quote} UC I see possible range on lower TF 4H or 1H. Support at 1.365 was tested 3 times so let's see if survives {image} {image}
Thanx man for your charts. Let's see what happens .
  • #1,483
  • Feb 24, 2016 2:53pm Feb 24, 2016 2:53pm
Quoting embo
{quote} thanks mate but wasn't they on downtrend all day + bad US news.. shouldn't they go down still?
It looks like UJ followed US Equities which rallied off of their lows.
  • #1,484
  • Feb 24, 2016 3:01pm Feb 24, 2016 3:01pm
Quoting Good Lookin
{quote} GJ and UJ together my friend. They're making me take my profits. I was really hoping they'd run some more.
H1 resistance falls around 156.15, you don't see it holding up?
  • #1,485
  • Feb 24, 2016 3:15pm Feb 24, 2016 3:15pm
Quoting Good Lookin
{quote} I am not confused. Monthly is an abstract idea for my type of trading. I don't hold positions through 200+ pip swings that last weeks. Also, i'm well aware of what economies import and export, kinda why i mentioned it . I mentioned earlier that i'm bullish above 3660 and bearish below. Take a look at this chart. {image} Daily is not noisy at all actually. There's a channel that has developed between 3850 and 3660. You can see 2 times prior there have been sharp moves to the downside that were pushed back. Taking shorts before seeing...
Here is my 4H CAD graph, prices have been within the downward channel.
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  • #1,486
  • Feb 24, 2016 3:18pm Feb 24, 2016 3:18pm
Quoting Good Lookin
{quote} I am not confused. Monthly is an abstract idea for my type of trading. I don't hold positions through 200+ pip swings that last weeks. Also, i'm well aware of what economies import and export, kinda why i mentioned it . I mentioned earlier that i'm bullish above 3660 and bearish below. Take a look at this chart. {image} Daily is not noisy at all actually. There's a channel that has developed between 3850 and 3660. You can see 2 times prior there have been sharp moves to the downside that were pushed back. Taking shorts before seeing...
On the daily you will find prices retrace to the moving averages which is the perfect spots to add new shorts or intiate a new one.
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  • #1,487
  • Feb 24, 2016 3:26pm Feb 24, 2016 3:26pm
Guys , I think GJ and UJ has moved down in a semi straight line and became extremely oversold.
I myself anticipated this move yesterday and been out with a small loss , but I did it again today and went long few hours ago to get at least a decent reaction move.
  • #1,488
  • Feb 24, 2016 3:33pm Feb 24, 2016 3:33pm
Quoting Rurozan
{quote} H1 resistance falls around 156.15, you don't see it holding up?
Why 156.15???
  • #1,489
  • Feb 24, 2016 3:47pm Feb 24, 2016 3:47pm
Difficult day today I think - tomorrow feels like it might be similar as the price action we are seeing heavily hinges on what oil wants to do. I personally think that it will continue to fall regardless of todays spike, there is still a huge over supply issue which regardless of todays positive inventory data it hasn't gone away. This bodes well for our JPY positions and hopefully we can have some more big moves to the down side once we've allowed the price to pull back slightly and have a breather (which it has more than earnt considering the moves we have seen these past few days!!) I'm also going to be keeping an eye on EURUSD, it attempted to break higher today through the counter trend line but failed, its currently pressuring but whether it will go through we will have to see. On the flip side a move lower through our long term lower trend line could open up a big sell off. I'm sitting tight for now!
  • #1,490
  • Feb 24, 2016 3:48pm Feb 24, 2016 3:48pm
Quoting Forex147
Guys , I think GJ and UJ has moved down in a semi straight line and became extremely oversold. I myself anticipated this move yesterday and been out with a small loss , but I did it again today and went long few hours ago to get at least a decent reaction move.
I am down 1836 pip already with GJ still keeping my shorts in hope it will return to downtrend. omg.. hard day
  • #1,491
  • Feb 24, 2016 3:50pm Feb 24, 2016 3:50pm
the famous cad bottom has nearly arrived, is it time to buy ? Safe with a tight stop worth try people all tell me it needs to go 135.5 before it breaks out of the top of this channel, maybe it's true
  • #1,492
  • Feb 24, 2016 3:56pm Feb 24, 2016 3:56pm
Quoting Rurozan
{quote} H1 resistance falls around 156.15, you don't see it holding up?
That's too short term for me. I agree Geppy and Forex147 about exhaustion on this pair. I feel that at some point there's gonna be a retrace. I don't know when or how much so i just trail my stop. People who trade from the daily and such cannot see that number at all.
Just look at the retrace that happened from 164. I can't predict magnitude but i'm sure others are looking to cover shorts or just generally buy an oversold asset. Also i'd rather concentrate on the UJ for now since i feel its in a more predictable place.

EDIT: btw i was taken out @ 156. I'm now flat GJ
  • #1,493
  • Feb 24, 2016 4:03pm Feb 24, 2016 4:03pm
Quoting embo
{quote} I am down 1836 pip already with GJ still keeping my shorts in hope it will return to downtrend. omg.. hard day
Well done, then I don't think you will mind 200-300 pips to upside? So you can add more shorts.
I would be interested to know your plan for GJ and what's your target? Good luck .
  • #1,494
  • Feb 24, 2016 4:08pm Feb 24, 2016 4:08pm
I really didn't want to get dragged back into USDCAD for a while but I like this double bottom. Are we about to reverse?
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  • #1,495
  • Feb 24, 2016 4:16pm Feb 24, 2016 4:16pm
Quoting BGETrading
I really didn't want to get dragged back into USDCAD for a while but I like this double bottom. Are we about to reverse? {image}
Actually it will be the 4th attempt on this level , kindly review the past thread pages to read CAD discussion.
  • #1,496
  • Edited 4:54pm Feb 24, 2016 4:17pm | Edited 4:54pm
Quoting BGETrading
Difficult day today I think - tomorrow feels like it might be similar as the price action we are seeing heavily hinges on what oil wants to do. I personally think that it will continue to fall regardless of todays spike, there is still a huge over supply issue which regardless of todays positive inventory data it hasn't gone away. This bodes well for our JPY positions and hopefully we can have some more big moves to the down side once we've allowed the price to pull back slightly and have a breather (which it has more than earnt considering the...
I'm watching eurodollar closely too.. looks like that pair is starting to liven up again. But, here's my outlook i believe negative interest rates are a probable for the dollar sometime in the future even though yellen hasnt flat out said it yet. Thus, even if we have a break of the trendline to the downside I'll probably sit it out because I believe the stronger move is on the upside where the dollar is weak.
  • #1,497
  • Feb 24, 2016 4:19pm Feb 24, 2016 4:19pm
Quoting BGETrading
I really didn't want to get dragged back into USDCAD for a while but I like this double bottom. Are we about to reverse? {image}
I'm in stop loss below 100 day exponential ma on daily , see what happens , small position to start
  • #1,498
  • Feb 24, 2016 4:26pm Feb 24, 2016 4:26pm
Just a couple of points. This style of trading involves holding a position usually for a week or so and gently adding to it. It uses large stop losses of maybe a couple of hundred pips, if the trade moves the right way move the stop loss close to break even even if this is hundreds of pips away so the trade can ride. Before entering a position work out where roughly you will take profit. My gbp/jpy take profit was at 157, this was a bit early true but this was over 700 pips from my original entry and made over 2000 pips from added positions over about a week. Of course this was a good week as the GBP was under pressure and of course I watched as the 154's were hit but I had a target and stuck to it. At present I have nothing open at all as it is time to sit back and try to work out where to go next, do not be afraid not to trade, patience for opening trades and patience for closing trades. Watch and wait, confirm and then trade, these swing trades are less frequent but worth the wait.
  • #1,499
  • Feb 24, 2016 4:39pm Feb 24, 2016 4:39pm
Eur/ Usd long
I think a trade worth taking... What you think guys???
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  • #1,500
  • Edited 5:12pm Feb 24, 2016 5:00pm | Edited 5:12pm
Attached Image
Quoting Pip-Miner
{quote} I'm in stop loss below 100 day exponential ma on daily , see what happens , small position to start
Attached Image

Have any of you looked at the Monthly on U/Cad. Here's the levels I've marked. Last months candle looks very bearish.
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