Forex Day Trader's Thread

[RidderTrade]

eur / gbp

I mean EG pair

could be.., looking at the charts.. de decline after the BIG rise from yesterday looks corrective till now..

i'm long eur/gbp 89.00

gbp stochastics are topping, however euro also high, then it just matter which one of the two will perform the worst


if eur/gbp moves above 90.00, there will be a lot of speculators jumping in, to go for the parity

its not the most volatile pair, so plenty of time to cut a loss if needed

 

[RidderTrade]

also the eur/gbp stochs are on the lower side of the charts.. this means the odds that it will rise from near current levels are higher.

 

[cpngtw]

I think it'll eventually visit the 0.90 level and pass that S/R. But right now I see it has downward pressure on daily, weekly and monthly to have a pull back to at least the 0.38 fib level of the last upward move.

 

[RidderTrade]

also notice yesterday there were new lows in the euro/gbp and then it sharply reversed to finish sharply higher.. which is called a bullish reversal candlestick

 

[cpngtw]

Yes, it's on a holding pattern since yesterday. I still think there is a pull back here before it could bounce up again. Need to run now and be back in an hour. Have my trade TP = 0.875 & ST = 0.895. This is not a long term trade, just a short term counter trend trade. I may get stopped out though.

 

[RidderTrade]

eur/gbp

I think it'll eventually visit the 0.90 level and pass that S/R. But right now I see it has downward pressure on daily, weekly and monthly to have a pull back to at least the 0.38 fib level of the last upward move.

could be.., there is some support for a bearish case as a bearish H and S is forming on the weekly ,

also there could be a bulish reversal on the weekly charts, if it finishes up today..

reviewing it again, todays close could be important indicator,

we will see.. looking at the hourlies.. at this moment says dont want decline far..

but things could change, there is a lot of market to go..

 

[RidderTrade]

Tp

Yes, it's on a holding pattern since yesterday. I still think there is a pull back here before it could bounce up again. Need to run now and be back in an hour. Have my trade TP = 0.875 & ST = 0.895. This is not a long term trade, just a short term counter trend trade. I may get stopped out though.

you mean TP = 0.885 ?

 

[cpngtw]

you mean TP = 0.885 ?

ew, stopped out it is. Yeah, I meant 0.885. Looking for entry to switch to long

 

[RidderTrade]

up, will keep it

 

[cpngtw]

Target 0.945 for EG. Also my buy order for EJ hit on break out. Target 137. Let's see how it goes...

 

[cpngtw]

Target 0.945 for EG. Also my buy order for EJ hit on break out. Target 137. Let's see how it goes...

Typo again, EG target is 0.905 If it pass 0.92 then it'd be on way to 0.94...

 

[RidderTrade]

euro getting strong.. a sudden jump.. gbp under pressure.. vs euro.

 

[cpngtw]

Yes, also strong against the Yen.

 

[cpngtw]

Just add one more position at the pull back, beautifully at 0.38 fib

 

[cpngtw]

Are you watching Eur/Usd RidderTrade?

 

[Pippy5000]

Long EUR/USD on the pullback.. pretty tight stop

 

[cpngtw]

Yeah, I have enough in eur so pass it.

 

[Pippy5000]

ok.. well I banked 35 pips in 10 minutes! nice to way to start the day!

 

[cpngtw]

cool! are you short term or long term on this?

 

[SSINGH]

long USD/SWISS