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Forex Made Millionaire Thread for Blog Swing Trades

  • #2,501
  • Jun 1, 2016 11:16pm Jun 1, 2016 11:16pm
good to see this thread back in action. I caught 90% of GJs move down but lost a little entering a long position at the bottom of the channel
  • #2,502
  • Jun 2, 2016 4:14am Jun 2, 2016 4:14am
Where to for Gbp/Jpy? I have little experience with this pair...
Don't Leave Money on the Table
  • #2,503
  • Jun 2, 2016 6:23am Jun 2, 2016 6:23am
Quoting calderone
I am short at 157.62, sl 157.60. Plain chart.....will post charts from time to time. I usually use weekly and daily to find my direction. Geppy mentioned the 4hr and I liked it so I took a trendline break on a lower tf.
I got stopped out while I slept. I have an ea that moves my stop after so many pips profit. I haven't traded gbpjpy a lot so it is likely I had the wrong setting for this trade. I'm back to the drawing board. lol

I did take a loss on gbpnzd. I entered off the daily and price consolidated as can be seen on the 1hr. Price never moved enough for my ea to get me to break even. -90 pips.

This will be much better when I start posting charts. haha Patience.
  • #2,504
  • Jun 2, 2016 6:37am Jun 2, 2016 6:37am
Quoting calderone
{quote} I got stopped out while I slept. I have an ea that moves my stop after so many pips profit. I haven't traded gbpjpy a lot so it is likely I had the wrong setting for this trade. I'm back to the drawing board. lol I did take a loss on gbpnzd. I entered off the daily and price consolidated as can be seen on the 1hr. Price never moved enough for my ea to get me to break even. -90 pips. This will be much better when I start posting charts. haha Patience.
Great to see you again buddy. Been a Loooong time man. Hope all is well with you and yours.
Ghost Rider - WWTBMD?
  • #2,505
  • Jun 2, 2016 6:42am Jun 2, 2016 6:42am
Quoting albchr
{quote} Great to see you again buddy. Been a Loooong time man. Hope all is well with you and yours.
Thanks Chris. Major changes on my end......Glad to see you here!!
  • #2,506
  • Jun 2, 2016 6:54am Jun 2, 2016 6:54am
Quoting calderone
{quote} Thanks Chris. Major changes on my end......Glad to see you here!!
Shot you a PM. Hope the changes are all for the good. As for the Geppy, imo she's gonna sit and spin until we get past some noise here.
Attached Image

Carnage will shake things up me thinks ... lol

Couple of the more major weekly levels to watch.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYiWeekly.png Size: 45 KB
Ghost Rider - WWTBMD?
  • #2,507
  • Jun 2, 2016 6:55am Jun 2, 2016 6:55am
Quoting albchr
{quote} Shot you a PM. Hope the changes are all for the good. As for the Geppy, imo she's gonna sit and spin until we get past some noise here. {image} Carnage will shake things up me thinks ... lol Couple of the more major weekly levels to watch. {image}
I would like to see how the weekly closes. If we keep that bearish candle (big shadow) I will look for shorts below the low.
  • #2,508
  • Jun 2, 2016 8:03am Jun 2, 2016 8:03am
Yessss.... Finally U/J broke through 109.00,
it is cleared to 108.30 level now
  • #2,509
  • Jun 2, 2016 9:19am Jun 2, 2016 9:19am
I added some shorts here at 157.00 -- not much, just a bit to add to my total position.

Nice action so far since yesterday in a market with few opportunities IMO.
check out my blog: forexmademillionaire dot com
  • #2,510
  • Jun 2, 2016 11:17am Jun 2, 2016 11:17am
Hey gang, I just wanted to let you all know I'm setting my target profit for my GBP/JPY shorts to 156.15 and have moved my stop loss down to 158.00.

My average position is 157.67 (down from 157.81 because I sold more). So worst case is I lose 33 pips:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-06-02 09.14.18.png Size: 74 KB
check out my blog: forexmademillionaire dot com
  • #2,511
  • Jun 2, 2016 11:19am Jun 2, 2016 11:19am
Hi Gang

Do you consider EUR/USD long opputunity or no?
Here is what I see in my chart

Attached Image (click to enlarge)
Click to Enlarge Name: eu.PNG Size: 43 KB
  • #2,512
  • Jun 2, 2016 11:43am Jun 2, 2016 11:43am
Quoting charron
Hi Gang Do you consider EUR/USD long opputunity or no? Here is what I see in my chart {image}
I've been looking at a similar chart (daily instead), but I just don't think it's worth my time to be in a Euro trade right now. It's been so rangebound I feel like it's dead money until we see a breakout of the range:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-06-02 09.32.56.png Size: 225 KB
check out my blog: forexmademillionaire dot com
  • #2,513
  • Jun 2, 2016 2:09pm Jun 2, 2016 2:09pm
Hey gang, just a quick note...

I just sold some USD/JPY at 108.87 -- I'm putting my SL at 109.40 and leaving the profit target open for now.
check out my blog: forexmademillionaire dot com
  • #2,514
  • Jun 2, 2016 2:20pm Jun 2, 2016 2:20pm
GBP/JPY seems to be struggling here. A couple things I'm seeing on the 15-minute chart:

- Trend line resistance is holding back the current retracement. It was old support and is now starting to look like solid resistance.

- The 50-bar SMA is containing PA so far with the 100-bar not far above. That's a positive for bears.

- Some slight divergence (drawn in magenta) with price making a higher high, but CCI failing to do the same. I'm a big fan of divergence, but usually much more so on the higher timeframes. So we'll see if this plays out well or if it's just a false signal.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-06-02 12.18.15.png Size: 232 KB
check out my blog: forexmademillionaire dot com
  • #2,515
  • Jun 2, 2016 4:09pm Jun 2, 2016 4:09pm
Hey gang, just published the daily roundup: http://www.forexmademillionaire.com/...oundup-622016/
check out my blog: forexmademillionaire dot com
  • #2,516
  • Jun 2, 2016 4:33pm Jun 2, 2016 4:33pm
I agree with your going long on USDCAD. Main long term trend is still up. Until we break above the last high of 14690, main trend will be up. Time frame in getting there is unknown. I added a position a little earlier at 131065 thinking it was headed higher at that point but it continued down to 13096 up to this point.
  • #2,517
  • Jun 2, 2016 5:05pm Jun 2, 2016 5:05pm
Quoting Michigan
I agree with your going long on USDCAD. Main long term trend is still up. Until we break above the last high of 14690, main trend will be up. Time frame in getting there is unknown. I added a position a little earlier at 131065 thinking it was headed higher at that point but it continued down to 13096 up to this point.
Yeah, I'm not crazy confident in the trade. The weekly is still technically in an uptrend like you say, but the lower timeframes are muddled. I need to see some alignment between the weekly, daily, and 4-hour to really feel confident riding it awhile. But for now I'm happy playing for smaller targets on the lower TFs.

P.S. Just noticed your name. I'm originally from Harbor Springs, MI.
check out my blog: forexmademillionaire dot com
  • #2,518
  • Jun 2, 2016 5:20pm Jun 2, 2016 5:20pm
Battle Creek myself. Agree with smaller TF being muddy. It came down a long ways from Jan - May that probably will take time to build momentum to continue back up. I've been knocked out several times trying to buy more on these small downturns and sideways moves. Gets frustrating for sure and it test ones patience and beliefs in the direction one believes it's going.
  • #2,519
  • Jun 2, 2016 10:50pm Jun 2, 2016 10:50pm
Hello
I hope Geppy won't mind. I would like to invite gang to discuss Brexit effects on GBP/USD and EUR/USD and how we can profit from it
If Brexit votes yes and GB leave EU, where do you see these pairs in a year or so after brexit?

IMO,
if Brexit is yes, G/U could drop to 1.25 or so and E/U might go to 1.0 or lower by mid 2017
If Brexit is NO, G/U would rally back to 1.65 and E/U might see 1.35 by mid 2017

Attached Image (click to enlarge)
Click to Enlarge Name: GU.PNG Size: 36 KB
  • #2,520
  • Jun 2, 2016 11:11pm Jun 2, 2016 11:11pm
Quoting charron
Hello I hope Geppy won't mind. I would like to invite gang to discuss Brexit effects on GBP/USD and EUR/USD and how we can profit from it If Brexit votes yes and GB leave EU, where do you see these pairs in a year or so after brexit? IMO, if Brexit is yes, G/U could drop to 1.25 or so and E/U might go to 1.0 or lower by mid 2017 If Brexit is NO, G/U would rally back to 1.65 and E/U might see 1.35 by mid 2017 {image}
My view is the damage of a "Yes" Brexit is so huge on UK as well as EU. The collapse is not limited to GDP but it will extend to EUR as if there is no tomorrow for EU. Therefore, this option is almost impossible. Media and all machines will bombard voters with the impacts of exiting EU.
This said, until June 23rd, poll results will be so close which will weaken the Pound over the board.
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