Forex Made Millionaire Thread for Blog Swing Trades

Agreed. Also there is bullish outside "green" bar. No problem long to about 116 at least. There is strong resistance around 116 which will give us shorting oppurtunity

I accepted defeat on GJ short when it closed a strong bull well above the h1 trendline.

I've been long since and having trouble really figuring a target.
I have a fibo extension on h1 with 100% landing on 160 and 161.8% at 162.34
Or I see a 61.8% retrace of the big downswing would be at 161.73
For now I'm just chasing the upward channel with a SL.

Sorry for the cropped chart but I wanted to exclude my trades as well as a bunch of clutter.

Remember the grain of salt because I'm a noob.

wish i had drawn this out yesterday. the yellow circle had support there that got over run by sellers but price rejected the lower move quickly. maybe we drop back into the channel again. the stock market is up a lot today hopefully we get some selling into the close.

good job....that 3400 was first target so we may be waitin till 3300 the daily bottom

I went short usdjpy @113.95

This will be interesting, can price be supported or false BO?
Hoping for false BO...

I'll be there

Cheers

My Bet on Positive breakout on U/J, because Nikkei will open positive as well
I am long since 113, plan to trail it until 116

anybody notice the api weekly crude numbers that came out just a little while ago ?

http://www.investing.com/news/econom...orecast-387370


9.9+ build

makes me even more bullish on usd/cad. my thesis on oil is the supply is going to get so out of hand that we'll see a ridiculously low price to force producers to shut in their production.

That is some serious numbers. Curious to see how the market views them.

no trades taken this week on any pairs , waiting for clearer trends . As a novelty been trading gold using this methodology, obviously not on this thread.

Waiting for a good trade is a skill I need to learn.

Well i'm in U/J, aiming for just below 116.000. Ignore the divergence lines as they are not particularly valid.
It's a small risk so see how she goes...

]Hi Guys

Here's my take on GPY/JPY in the medium term

You see the pink dot on my chart...well that's a gap that needs to be filled, it also coincides with the .618 fib of the last major move down. I have placed a sell limit order here at 161.745. Just in case the move doesn't go all the way to the .618 I have place another sell limit order at the .50 fib level of this retracement at 160.403. ( the .50 retracement also coincides with the current AB BC movement target)

Target of sell orders is 150.00, which is major psychological barrier and 100% extension of the movement

Attached Image (click to enlarge)

That is Very close to Geppys original target for shorting in the blog

Hey gang, I won't lie I've had my ass handed to me this week already for a few reasons.

I was short yesterday and got too aggressive with it. This even after I outlined on the blog why I think we're heading higher. I did some revenge trading and things got uglier. I should have stayed out of the market all together. I'm definitely not perfect or a trading master. I hate that some of you seem to think so. I got pwned this week just like many of you do.

But I'm working on recovering from it. And this is what I'm seeing in GBP/JPY right now. Now that I've had some time to recover and get my head straight:



This is a 1-hour chart. Notice I've drawn an obvious channel. This formation is usually known as a bear channel; it's a continuation pattern. Given that the main trend is down, we'd expect it to (eventually) break to the down side.

Something that's also interesting is the bearish divergence I've illustrated. Notice how price has made a higher high but CCI has failed to follow suit.

Although not marked on my chart, notice the low from Feb. 11th that comes in at 159.80 -- now, we didn't trade that high today, but we came darn close. Remember, support/resistance lines are drawn in crayon, not pen.

If you don't follow, I'm basically saying that price does not have to exactly touch a support or resistance line to make it valid. Those "lines" are really zones. So, today could be a valid test of that low as resistance.

What all this means is I'm taking some shorts here because I like the risk/reward of at a minimum a test of the lower bound of the channel a bit below 157.00 with the added potential of breaking down through the bear flag and continuing the downtrend.

On another note, my apologies for being more MIA this week but I'm afraid it's going to be the new norm for a bit. Mrs. Geppy and I got a puppy on Saturday and man is she a lot of work! I'm also fundraising for my company which is insanely time consuming.

I'll be here and around as much as I can though. I hope the rest of you help keep the thread going and high-quality.

Good to have u back Inman @Geppy. Dont worry man. I think my trading this week went south mosyly because my own analysis and judgement especially what happened with uj. And ur weekly outlook sure has helped a lot of us to level our game. Im seeing the same thing with u on gj. But im waiting for a couple chart to be drawn first just to be sure.

Heads Up, U/CAD is very closed to breaking 1.3430 resistance,
if it breaks it strongly (with a big candle), I will be a buyer

I think the trend now for GJ, and UJ is long more than short. I will buy long when the highs of last night been taken.

You will notice in this 4H UJ that prices tried to penetrate the green line( 100 day MA) at the point 113.95 and failed, and tried again and penetrated the line and now it acts as support.
My second point is UJ was trending upwards for the 3 days and was reversed for one day and came up aggressively today, with in my experience is a bullish sign.