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Forex Made Millionaire Thread for Blog Swing Trades

  • #1,721
  • Edited 3:59pm Feb 29, 2016 3:42pm | Edited 3:59pm
I took a small short GJ at 156.9 because GJ is staying below down TL & below my MAs. Will add more if it continues.

I spent last week with gold, where study and patience paid off nicely, just like it does here.

ADD: On H1, stp 157.30 (a little close?) and lmt 155.07
  • #1,722
  • Feb 29, 2016 3:47pm Feb 29, 2016 3:47pm
Quoting Don96
why does this always happen to me... {image}
There is a small hint of your enemy in the chart - "M5"
  • #1,723
  • Edited 5:04pm Feb 29, 2016 4:31pm | Edited 5:04pm
Well USD/JPY short just blew through my target set at 112.55. About to trigger my second target order. I will be at starter size once that gets triggered, going to keep that for a while and let it run.

I just posted the chart I am looking at, it is messy but you can clearly see the head and shoulders pattern, as well as the neck break.
Attached Image (click to enlarge)
Click to Enlarge Name: GHUs85.png Size: 32 KB
  • #1,724
  • Feb 29, 2016 4:43pm Feb 29, 2016 4:43pm
Nice 70 pip spike short about 10 minutes ago for those of us in GJ...
  • #1,725
  • Feb 29, 2016 4:44pm Feb 29, 2016 4:44pm
Quoting Don96
why does this always happen to me... {image}
Hi Don:

Just wondered if you had a chance to read the first post of this thread. It makes very good reading and is highly recommended.

http://www.forexfactory.com/showthread.php?t=576717

Cheers.
  • #1,726
  • Feb 29, 2016 4:54pm Feb 29, 2016 4:54pm
Quoting Bill618
{quote} So for the novice like me, what does this mean for price?
As to your earlier question.

Did you notice that the market moved through that level (112.50) with the greatest of ease? There were no huge buy orders sitting there, or if there were they were pulled very quickly as the market approached.

Moral of the story....don't listen to gossip. Listen to the market by analyzing it, studying it, and listening to what it is telling you via PA.

GREEN pips to you Good Sir.
  • #1,727
  • Feb 29, 2016 5:27pm Feb 29, 2016 5:27pm
Quoting SmoothTrader
{quote} As to your earlier question. Did you notice that the market moved through that level (112.50) with the greatest of ease? There were no huge buy orders sitting there, or if there were they were pulled very quickly as the market approached. Moral of the story....don't listen to gossip. Listen to the market by analyzing it, studying it, and listening to what it is telling you via PA. GREEN pips to you Good Sir.
Lesson for the day: Don't listen to gossip!
Thanks for the info ST

@Geppy, @Good Lookin, when you have time could you please explain in more detail why you shorted G/J when you did. Yes there was a TL/resistance but what were the other confluences? This would help me (and others i'm sure)

Thanks,
Bill
  • #1,728
  • Feb 29, 2016 5:37pm Feb 29, 2016 5:37pm
Quoting krismitt
Question Geppy: Having regard to the Analysis showing that EURUSD is clearly in an Up-trend (your H1 Chart) What are your thoughts on the Chart below... {image} Regards.
Post No. 591, EURUSD. Looking like a major top for real Geppy.

Attached Image (click to enlarge)
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Update:

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I recall the focus on parity in early 2015!. I wonder?.

Attached Image (click to enlarge)
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  • #1,729
  • Edited 7:07pm Feb 29, 2016 5:54pm | Edited 7:07pm
Quoting spartanforex
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.

112.20ish hit (112.13-16 support) i missed this level to grab a long with a very tight stop (was painting my daughters room and didnt place an entry order, market usually doesnt move during sydney hours)

levels below 111.91, 71, 68, 49, 33.
  • #1,730
  • Feb 29, 2016 7:30pm Feb 29, 2016 7:30pm
Quoting Bill618
{quote} Lesson for the day: Don't listen to gossip! Thanks for the info ST @Geppy, @Good Lookin, when you have time could you please explain in more detail why you shorted G/J when you did. Yes there was a TL/resistance but what were the other confluences? This would help me (and others i'm sure) Thanks, Bill
Hey Bill, for me it came down to three simple observations (the first you already mentioned):

1) The trend line resistance held price and price came up again and was clearly stalling out.

2) The 50-hour moving average was acting as resistance and price couldn't get through this area on several attempts.

3) The overall downtrend. It's trite but true, the trend is your friend.
check out my blog: forexmademillionaire dot com
  • #1,731
  • Feb 29, 2016 7:32pm Feb 29, 2016 7:32pm
Quoting krismitt
{quote} Post No. 591, EURUSD. Looking like a major top for real Geppy. {image} Update: {image} I recall the focus on parity in early 2015!. I wonder?. {image}
Great charts, krismitt. I'm still not in any EUR/USD trades as per the weekly outlook. I just don't see a lot of potential for a juicy swing trade yet.
check out my blog: forexmademillionaire dot com
  • #1,732
  • Edited 7:50pm Feb 29, 2016 7:34pm | Edited 7:50pm
grabbed a long 112.20 stop 112.09 tp open. i dont think this will hold but it should give it some bounce, probably close 1/2 and let rest run fo a free trade chance.

there should be resistance around 112.70's. took about a 1/3 off at 37.
  • #1,733
  • Feb 29, 2016 7:54pm Feb 29, 2016 7:54pm
Quoting spartanforex
grabbed a long 112.20 stop 112.09 tp open. i dont think this will hold but it should give it some bounce, probably close 1/2 and let rest run fo a free trade chance. there should be resistance around 112.70's. took about a 1/3 off at 37.
I don't understand what's going on here. Isn't it a downtrend? I mean USJ was just talking about broken support...
  • #1,734
  • Feb 29, 2016 8:07pm Feb 29, 2016 8:07pm
Quoting Rurozan
{quote} I don't understand what's going on here. Isn't it a downtrend? I mean USJ was just talking about broken support...
U/J looks bearish but it's also in "no mans land", trading in a short term (4H) wedge/range.
Attached Image (click to enlarge)
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  • #1,735
  • Feb 29, 2016 8:09pm Feb 29, 2016 8:09pm
Quoting Geppy
{quote} Hey Bill, for me it came down to three simple observations (the first you already mentioned): 1) The trend line resistance held price and price came up again and was clearly stalling out. 2) The 50-hour moving average was acting as resistance and price couldn't get through this area on several attempts. 3) The overall downtrend. It's trite but true, the trend is your friend.
Thanks man, much appreciated!
  • #1,736
  • Feb 29, 2016 8:24pm Feb 29, 2016 8:24pm
Got my uj short stopped, lesson learnt is never jump into the market too soon, watching closely for the chance to bull now. On ucad, im thinking on short @1.355, watching closely now, llls
  • #1,737
  • Feb 29, 2016 8:49pm Feb 29, 2016 8:49pm
Quoting Gullit
Got my uj short stopped, lesson learnt is never jump into the market too soon, watching closely for the chance to bull now. On ucad, im thinking on short @1.355, watching closely now, llls
How did you get stopped out on USD/JPY if you were short, it has been in a consistent downtrend since the open yesterday... unless you had a 20pip stop, which even then isn't close to ideal for swing trading.
  • #1,738
  • Feb 29, 2016 9:08pm Feb 29, 2016 9:08pm
Just sign up to this site, do you call out long or short on your email ? providing stop and TP ? Thank you
  • #1,739
  • Feb 29, 2016 9:09pm Feb 29, 2016 9:09pm
Lols, it was long. U can read my post earlier,i just had short in mind when i type it. Lols
  • #1,740
  • Feb 29, 2016 9:14pm Feb 29, 2016 9:14pm
Quoting pilotevan
Just sign up to this site, do you call out long or short on your email ? providing stop and TP ? Thank you
No, this is not a signal service.
check out my blog: forexmademillionaire dot com
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