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Forex Made Millionaire Thread for Blog Swing Trades

  • #2,241
  • Mar 10, 2016 1:33am Mar 10, 2016 1:33am
Excuse my ignorance but how will non-european currency pairings such as USD/CAD be affected by this "much anticipated" ECB announcement???
Bill
  • #2,242
  • Mar 10, 2016 1:44am Mar 10, 2016 1:44am
Quoting Bill618
Excuse my ignorance but how will non-european currency pairings such as USD/CAD be affected by this "much anticipated" ECB announcement??? Bill
I think the theory is if the announcement was a disappointment for the Euro currency, people will dump the euro for the dollar which will affect commodities such as Gold and Oil and which in turn affect the CAD.
  • #2,243
  • Mar 10, 2016 2:36am Mar 10, 2016 2:36am
Anyone trading the Dragon???
  • #2,244
  • Mar 10, 2016 2:53am Mar 10, 2016 2:53am
Quoting Forex147
Anyone trading the Dragon???
no. GY is unclear to me at this point.
Im trading E/U as per my analysis from last page.
40 pips in profit so far. Hoping for a lower low today.
  • #2,245
  • Mar 10, 2016 3:15am Mar 10, 2016 3:15am
Quoting SulikFXer
{quote} no. GY is unclear to me at this point. Im trading E/U as per my analysis from last page. 40 pips in profit so far. Hoping for a lower low today.
Sorry , I didn't go over the previous pages. Congrats on the GJ position, but why didn't you keep it after all that risk??

I'm blaming myself that I missed to buy GJ at 159.50 as shown in my last chart... Anyway I took the trade at 160.55 yesterday, and doing fine so far. For me the Euro is confusing now coz it is more like on hold till ECB. Good luck anyway.
  • #2,246
  • Mar 10, 2016 3:20am Mar 10, 2016 3:20am
Quoting Forex147
{quote} Sorry , I didn't go over the previous pages. Congrats on the GJ position, but why didn't you keep it after all that risk??.
Psychology man. Still learning this here. I just wanted to have it behind me and stop checking my phone every 5 minutes. I guess I went in with too big lot size and couldnt deal with probable loss. I know it was stupid, but .. yeah well. better to walk away and trade another day sometimes.
  • #2,247
  • Mar 10, 2016 5:06am Mar 10, 2016 5:06am
Quoting Forex147
{quote} I think the theory is if the announcement was a disappointment for the Euro currency, people will dump the euro for the dollar which will affect commodities such as Gold and Oil and which in turn affect the CAD.
Thank you.

Boy oh boy, this is like watching paint dry...
Bring on the ECB
  • #2,248
  • Mar 10, 2016 6:18am Mar 10, 2016 6:18am
Quoting Bill618
{quote} Thank you. Boy oh boy, this is like watching paint dry... Bring on the ECB
It's generally like this when great uncertainty abounds. Traders not keen to risk their cash in any way shape or form.
I'm struggling to see how this event can be positive for the euro. But then again, I was thinking the same thing before Dec 3rd's announcement and I got horribly stung. Actually I suppose euro data has got slightly better in the last few weeks and hence there may be a glimmer of hope for it.
Hmmm. It's all a mystery. Mr Draghi shall dictate......
  • #2,249
  • Mar 10, 2016 6:29am Mar 10, 2016 6:29am
Quoting lancedes
{quote} It's generally like this when great uncertainty abounds. Traders not keen to risk their cash in any way shape or form. I'm struggling to see how this event can be positive for the euro. But then again, I was thinking the same thing before Dec 3rd's announcement and I got horribly stung. Actually I suppose euro data has got slightly better in the last few weeks and hence there may be a glimmer of hope for it. Hmmm. It's all a mystery. Mr Draghi shall dictate......
I have had a look at the U/C daily trading range/volatility on the days of the last 4 ECB monetary meetings and there wasn't even a hint of a spike or any evidence of panic (there was with the european currencies of course, particularly the last one December 3).
So it seems... seems... that U/C may be largely immune?
  • #2,250
  • Mar 10, 2016 7:13am Mar 10, 2016 7:13am
Quoting SulikFXer
{quote} no. GY is unclear to me at this point. Im trading E/U as per my analysis from last page. 40 pips in profit so far. Hoping for a lower low today.
Yep. Struck gold.
  • #2,251
  • Mar 10, 2016 7:17am Mar 10, 2016 7:17am
Looks like the party started early.

Attached Image (click to enlarge)
Click to Enlarge Name: EU 2016.03.10 Pre ECB.png Size: 131 KB


Could get wilder later though.
  • #2,252
  • Mar 10, 2016 7:34am Mar 10, 2016 7:34am
well the ecb has boosted their QE program to 80bn a month. along with a few other meaning less programs dealing with interest rates. the ECB is absolutely clueless on how to fix their economy. they've guaranteed more deflation is coming to them after a short boost of speculation. im going to be watching the 10740 level to start buying the euro maybe lower even if the market gets carried away with what this actually means.
  • #2,253
  • Mar 10, 2016 7:47am Mar 10, 2016 7:47am
Quoting spartanforex
well the ecb has boosted their QE program to 80bn a month. along with a few other meaning less programs dealing with interest rates. the ECB is absolutely clueless on how to fix their economy. they've guaranteed more deflation is coming to them after a short boost of speculation. im going to be watching the 10740 level to start buying the euro maybe lower even if the market gets carried away with what this actually means.
Whats your reasoning for 10740 as the level to watch. Proximity to Jan lows?
  • #2,254
  • Mar 10, 2016 7:58am Mar 10, 2016 7:58am
Quoting Good Lookin
{quote} Whats your reasoning for 10740 as the level to watch. Proximity to Jan lows?
i spent a weekend a few weeks ago and marked a bunch of levels for a possible pulback when the eurowas over 110. the 10828 level was one of them and 10740 , basically yes the january low was the reason. the euro i used to trade mostly and i noticed it didnt follow an elliot wave rules. it basically does wave 1 up, wave 2 pullback, wave 3 makes a higher high than 1 then wave 4 pullbacks all the way back deep into wave 2 then wave 5 is the monster wave that keeps going. so thats why i believe we will see a move in the euro going up that doesnt stop atleast 124 possibly as high as 132. i think it will happen during this summer.
  • #2,255
  • Mar 10, 2016 8:00am Mar 10, 2016 8:00am
wow 10820 level is being defended heavily !!
  • #2,256
  • Mar 10, 2016 8:06am Mar 10, 2016 8:06am
Lol and there goes the EU getting wilder later. Retracing almost all of that drop.
  • #2,257
  • Mar 10, 2016 8:18am Mar 10, 2016 8:18am
whipsaw in effect wow i wouldnt rule out a move lower today lol
  • #2,258
  • Mar 10, 2016 8:31am Mar 10, 2016 8:31am
Quoting spartanforex
whipsaw in effect wow i wouldnt rule out a move lower today lol
Yep, liquidity drops on big news and the search creates these whipsaw like moves. It's always a risk if you're gonna take news plays. Just gotta get in some free positions that won't break the bank if you get a little slippage.
  • #2,259
  • Mar 10, 2016 8:54am Mar 10, 2016 8:54am
Target I marked on my charts yesterday with a green dashed line on 1.0830 was hit, then crossed by 3 pips and EU whipped back.
Good my TP was triggered and the broker didnt try to weasel his way out of this with slippage. 3 pips was close
anyway 172 pips worth of short was closed.
  • #2,260
  • Mar 10, 2016 8:54am Mar 10, 2016 8:54am
got to add to my usd/jpy long on that whipsaw action. thank you euro traders
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