Currency trading (Sept. 4th > 8th)

[wasp]

...For now I am still looking at 1.8926...

Good call coolTrader

 

[City Bound]

How do you guys make your calls? There seem to be a few people who are consistently accurate. Is it just experience? My intution tends to be pretty good at short timeframes but I don't really have much joy when it comes to medium/longer moves.

 

[wasp]

How do you guys make your calls? There seem to be a few people who are consistently accurate. Is it just experience? My intution tends to be pretty good at short timeframes but I don't really have much joy when it comes to medium/longer moves.

Personally, I cheat and let the indicators do it for me, I can blame them when it all goes wrong then!

 

[hornblower]

How do you guys make your calls? There seem to be a few people who are consistently accurate. Is it just experience? My intution tends to be pretty good at short timeframes but I don't really have much joy when it comes to medium/longer moves.

have a look at 1 month chart draw a few lines , and you will have your answer

 

[zuke]

I am now long from 8917 with stop loss at 8867 and First TP at 9007.

 

[hornblower]

I am now long from 8917 with stop loss at 8867 and First TP at 9007.

good luck with that zuke
at the moment the 1 hour and the 15 min chart , indicators looks if its going to sideways for a while

edit the 40 day ma is just crossing the price and , lots of times there is a change of direction
edit 5 min chart

 

[coolTrader]

Good call coolTrader

Thanks Wasp

 

[martin brown]

strange day.

looking at the daily chart (esp for the eur/usd), one would normally expect a final spike and then reversal for a sell off such as today. but it was pinned to the highs on fri & this monday, and yet today the bottom just fell out. there was no US data either.

today's candle looks really bearish, but without a spiky top i'm not sure this is the start of a real downtrend just yet.

17th & 25th August have similar bearish candles, yet they marked significant lows. that said they were also the 2nd day of a correction, so perhaps this is all it is, and we get one more day of down and then up?

anyone have any thoughts on the bigger picture?

 

[dc2000]

i'm not sure this is the start of a real downtrend just yet.

neither am I

and a small rally into close would confirm rather than drop to 840 today

 

[dc2000]

not bad end of day action, the close couldn't be closer for me 1 pip

 

[martin brown]

neither am I

and a small rally into close would confirm rather than drop to 840 today

close?

what time would that be?

I thought forex only closes on friday...

 

[hornblower]

close?

what time would that be?

I thought forex only closes on friday...

the close of the us markets

 

[hornblower]

traded over a narrow range overnight ,
beige book today, 2pm us time ,
7 pm uk time

 

[dc2000]

close?

what time would that be?

I thought forex only closes on friday...

Hi Martin hornblower is correct its the US, inorder to do my calculations I divide the day up into three sessions

 

[Baruch]

traded over a narrow range overnight ,
beige book today, 2pm us time ,
7 pm uk time

Yes, the Beige Book is very important, but we will also get ISM 14.00GMT.

 

[coolTrader]

gm all chops this morning.. Again.

 

[zuke]

I am now long from 8917 with stop loss at 8867 and First TP at 9007.

I moved my stop to b/e when this trade when 40 onside..sadly that turned out to be the daily high thus far! Still, it's still 10 pips or so onside so not all bad I guess.

 

[Baruch]

Yes, the Beige Book is very important, but we will also get ISM 14.00GMT.

And UK industrial production in 3 min.

 

[zuke]

I moved my stop to b/e when this trade when 40 onside..sadly that turned out to be the daily high thus far! Still, it's still 10 pips or so onside so not all bad I guess.

Stopped out at b/e. On sidelines until entry set up comes along

 

[martin brown]

ok, so here we have it. 2nd day of down.

would like to see how it acts @ 1.8880