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Forex Made Millionaire Thread for Blog Swing Trades

  • #1,641
  • Feb 26, 2016 7:43am Feb 26, 2016 7:43am
Quoting nairate
Data coming up: German Feb CPI and US Q4 GDP/PCE It's beena busy data calendar today and there's more on the horizon First up is the German CPI at 13.00 and the regional normally give us an accurate clue. That clue today is softer than expected readings and that's helped to the euro sales so far. Here's the forecasts: {image} Then at 13.30 GMT get the latest US GDP reading and, as importantly, PCE/personal consumption. With markets in Fed hike hype mode we'll expect a knee jerk on anything wide of the mark. {image} USD currently a real mixed bag...
I've never posted here before and for that i apologise - this thread has been a fantastic experience and Geppy you have changed my approach to trading almost overnight. From struggling to indentify a method to realising that i was simply too focused on the short term time frames.

What I don't need though is for people to come along like this and copy and paste quotes from forexlive.com and others - i'm sure i'm not the only one who isn't intersted in vague out of context updates - and if anyone doubts me just copy each of nairate's posts into google.
  • #1,642
  • Edited 9:01am Feb 26, 2016 8:35am | Edited 9:01am
taking small positions on (short) u/j 113.55 tp 112.20ish , (long) euro/dollar 109.60 tp open. 50 pips for stops. I think we'll get some profit taking today in the stock market which should put downward pressure on dollar/yen, atleast thats my thoughts, could be another ramp fest of higher oil and dollar/yen to force a short squeeze on equities though.
  • #1,643
  • Feb 26, 2016 8:40am Feb 26, 2016 8:40am
I think GBP/JPY is about to pop. ABC pattern formed on 5 min chart. Opened short at 15840. I hope this is the right call in my limited experience!
  • #1,644
  • Feb 26, 2016 9:32am Feb 26, 2016 9:32am
Hi gang, I slept in a bit this morning. Felt nice!

I don't have much on in terms of trades... just some GBP/JPY longs. Yes, longs.

I think we still have room to roam higher, so I'm sticking with them (in profit) for now and will probably hold through the weekend.

I doubt I'll be initiating any other trades though today.
check out my blog: forexmademillionaire dot com
  • #1,645
  • Feb 26, 2016 9:33am Feb 26, 2016 9:33am
Quoting Forex147
{quote} Hi Good Lookin; I wish that you stuck to your plan of CAD we discussed earlier as you were long and told me you will short below 1.3660. I am still keeping of shorts although my target of 1.3560 was reached. It just broke below the daily TL and seems it going a long way down. What you think?
I'm still on my plan AND i totally agree with you. I was waiting for yesterday to close below on the daily. I'll be taking shorts on pull backs next week and also if it breaks below this little channel that setup. For now i'll be flat this pair. I don't take trades on friday normally.
  • #1,646
  • Feb 26, 2016 9:34am Feb 26, 2016 9:34am
Quoting Geppy
Hi gang, I slept in a bit this morning. Felt nice! I don't have much on in terms of trades... just some GBP/JPY longs. Yes, longs. I think we still have room to roam higher, so I'm sticking with them (in profit) for now and will probably hold through the weekend. I doubt I'll be initiating any other trades though today.
I slept in too, lol. Came to work late. Life is good when you have options.
  • #1,647
  • Feb 26, 2016 9:45am Feb 26, 2016 9:45am
Quoting Good Lookin
{quote} I slept in too, lol. Came to work late. Life is good when you have options.
Well, sleeping in for me is 6:30am

And yes, options are nice to have!
check out my blog: forexmademillionaire dot com
  • #1,648
  • Feb 26, 2016 10:17am Feb 26, 2016 10:17am
I don't see much Eu talk, maybe i missed it. Is anyone else in on this?

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  • #1,649
  • Feb 26, 2016 11:43am Feb 26, 2016 11:43am
Quoting Bill618
{quote} U/J long scares me a little bit with this TL and CCI oversold. It may retrace lower for the next few hours... maybe... {image}
Agree on CCI, However, US equities is slowly rising, IMO, will continue to rise in March, possibly making right shoulder at 2047
SO, this is likely to power U/J Higher
  • #1,650
  • Feb 26, 2016 2:17pm Feb 26, 2016 2:17pm
Quoting charron
{quote} Agree on CCI, However, US equities is slowly rising, IMO, will continue to rise in March, possibly making right shoulder at 2047 SO, this is likely to power U/J Higher
Yeah i was talking about that moment in time - in the very short term - because someone had just placed a long and it looked like it was going to retrace for the next hours (which it did) before resuming its steady march north. But thanks charron for your analysis, i will study what you have said, very much appreciated!

Good to see U/J break through the resistance (chart) - i just wish i'd been awake to catch it, although i'm still hopeful of getting on-board. I'm expecting/hoping it to bounce down to the TL from the 100MA, the 114-114.5 RN's that have been S&R historically, the CCI is peaking too. Then confirm TL as solid support with some outstanding PA, then i'll be looooong.

To avoid missing these BO's i'm tempted to start placing limit orders but i'm wary of the false BO all the time. Having said that, BO trading always have small stops so i just have to take the plunge! After all, whilst your sleeping or away from your computer, if you average 3x 20 pip losses (false BO's) and 1x 120 pip gain, you're in front! Just got to convince my Brain of this

Have a great Weekend y'all
Love your work.
Bill
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  • #1,651
  • Feb 26, 2016 2:23pm Feb 26, 2016 2:23pm
Quoting Good Lookin
I don't see much Eu talk, maybe i missed it. Is anyone else in on this? {image}
I don't know what to say I had strong conviction last night we would see the dollar weaken took a long at 4am obviously turned horrible, oh well. Everything in the world literally says the Dollar needs to lose its strength. Regroup for next week
  • #1,652
  • Feb 26, 2016 2:29pm Feb 26, 2016 2:29pm
Closed out my GBP/JPY long for an 8 pip profit (hehe ). I am still holding my USD/JPY short, added to it at 113.94. I am going to hold this position over the weekend and will regroup for next week. I am calling it a week friends, going to catch a hockey game in a baseball stadium . have a good weekend!
  • #1,653
  • Feb 26, 2016 2:37pm Feb 26, 2016 2:37pm
Quoting FSUtrader
{quote} I don't know what to say I had strong conviction last night we would see the dollar weaken took a long at 4am obviously turned horrible, oh well. Everything in the world literally says the Dollar needs to lose its strength. Regroup for next week
Yeah well its the last Friday of the month. Portfolios re-balance, salaries need to be paid, orders (goods) need to be filled. The market is part speculation and part facilitation. Our opinions, while they may be correct, are only a piece of the pie.
Just remember, even the best economists in the world with super computers and inside information can't predict exchange rate fluctuations consistently.
  • #1,654
  • Feb 26, 2016 2:39pm Feb 26, 2016 2:39pm
Quoting Bill618
{quote} Yeah i was talking about that moment in time - in the very short term - because someone had just placed a long and it looked like it was going to retrace for the next hours (which it did) before resuming its steady march north. {image}
Ok I see what you mean. I don't look at short term noise
  • #1,655
  • Feb 26, 2016 9:10pm Feb 26, 2016 9:10pm
That's smart charron.

Looking forward as usual to Geppy's weekly review/preview but in the meantime wanted to post this ripper chart!
E/U Daily. There is a beeeeuwdiful large enguilfing BEOB (bearish outside bar) that has broken through AND closed below a well respected TL. This may retrace nicely to the TL or just inside leaving a small risk, then may move solidly south. The 3 orange lines are major trouble areas so not sure how far it may go. Unless there's some unexpected fundamentals over the weekend, this chart, to me at least, looks great for some pip-idi-do-daas!
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  • #1,656
  • Feb 27, 2016 9:39am Feb 27, 2016 9:39am
Quoting Bill618
That's smart charron. Looking forward as usual to Geppy's weekly review/preview but in the meantime wanted to post this ripper chart! E/U Daily. There is a beeeeuwdiful large enguilfing BEOB (bearish outside bar) that has broken through AND closed below a well respected TL. This may retrace nicely to the TL or just inside leaving a small risk, then may move solidly south. The 3 orange lines are major trouble areas so not sure how far it may go. Unless there's some unexpected fundamentals over the weekend, this chart, to me at least, looks great...
Yep, thanks man!

I actually cranked the weekly outlook out last night because I have a super busy weekend. Mrs. Geppy and I are getting a puppy... a Goldendoodle this morning. So I didn't know how much time I'd have. But it will be out tomorrow morning as usual.
check out my blog: forexmademillionaire dot com
  • #1,657
  • Feb 27, 2016 1:15pm Feb 27, 2016 1:15pm
Quoting USJ
Closed out my GBP/JPY long for an 8 pip profit (hehe ). I am still holding my USD/JPY short, added to it at 113.94. I am going to hold this position over the weekend and will regroup for next week. I am calling it a week friends, going to catch a hockey game in a baseball stadium . have a good weekend!
Hey USJ, At what level did you first get in on your USJ short ? You seem to be in the middle of a retracement and i see the 38.2 at a nice round 115.00 and the uber strong 50% at 116.25 [Fibo Retrace from 11Feb low] . So unless the BOJ goes on one of its yen weakening spree you will be living out quite a "suspenseful" ride up. Have fun at the games.
Live life king size !
  • #1,658
  • Feb 27, 2016 1:17pm Feb 27, 2016 1:17pm
Quoting Bill618
That's smart charron. Looking forward as usual to Geppy's weekly review/preview but in the meantime wanted to post this ripper chart! E/U Daily. There is a beeeeuwdiful large enguilfing BEOB (bearish outside bar) that has broken through AND closed below a well respected TL. This may retrace nicely to the TL or just inside leaving a small risk, then may move solidly south. The 3 orange lines are major trouble areas so not sure how far it may go. Unless there's some unexpected fundamentals over the weekend, this chart, to me at least, looks great...
Certainly is pretty picture isn't it ?
Live life king size !
  • #1,659
  • Feb 27, 2016 1:32pm Feb 27, 2016 1:32pm
Quoting neo1993
Is it the right time to go long on eur/usd?
If we strictly go by the chart and the trend, it reads sell. Go back a few posts and you will find out more.
Live life king size !
  • #1,660
  • Feb 27, 2016 1:42pm Feb 27, 2016 1:42pm
Quoting 2+2=4ex
{quote} 2% doesn't always make sense though. If you are entering a trade in which you plan that your target or stop won't be reached for a couple years minimum, then 2% might not be the best use of your capital. I think the money risk should be proportional to the trade risk. If you have information that makes the trade very confident you could risk more money than say a trade of less confidence.
I think your reasoning does not apply to a big percentage of people who trade with a small capital. Risking 2% of your capital per trade and using mini / micro lots is a prudent way to build your account not to mention learning the rules of the game. I figure you are some whale for whom this does not apply ?
Live life king size !
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