Forex Day Trader's Thread

For a much longer term, 1.42. But right here there is a lot of registance to pass. But again, I may be wrong 🙂
 
It's currently in a congestion area, it may take a few days before having another push. It may also have another correction. Let see how it behaves. This is position trade, not hit & run.
 
I'm still looking to grab EJ at 130.. otherwise I'm just watching on the sidelines.. Nikkei ended up tanking pretty hard..
 
130.2 actually.. EUR/USD is being propped up right now by massive USD/JPY sales .. EUR/JPY is tanking and might hit my entry this afternoon..
 
So quiet today? Long on GBP/USD,short term may get to today's high, long term to 1.57 level
 
I see EJ is bouncing back to around 131.95 or 132 then it may resume its downward move. It may move down further than 130.2
 
I figure it will get a bounce and I can move my stop to 0 in case that isn't the bottom.. I'm actually long EUR/USD today.. up 40 ..
 
Up earlier today and then lost half my pot of gold staying short on the Dow. Disaster 🙂

Do you see Eur/USD going higher later guys?
 
Watch out for UJ, it is bouncing back to around either 96.95 or 97.45. When confirm that it resumes its downward move then jump in for a few hundreds pips
 
sullystocks said:
Do you see Eur/USD going higher later guys?
Click to expand...

As I said earlier, it's in congestion area, maybe for a few days before moving up again. I'm wawtching it closely since I still have a long position (position trade). If it breaks support at 1.35 or so, then it's a false break out & time to short
 
RidderTrade said:
dont see that much upside in gbp/usd short term.. heavy resistance around 1.55
Click to expand...

agree about 1.55. But my guess is it'd make it to 1.57 or above although it may take a while (zig zag). Best way if it plays out as plan then take profit at 1.55 and have a position left to run the rest with tight trailing stop. But first thing first, need to be correct 🙂
 
If you look at GBP/USD 4hr chart, it's in a nice channel since Apr 23. If it break the lower support of that channel, currently about 1.515 or so, then the up trend may change. I can't post the chart here, unless someone wants to do it.
 
Heres the chart lads. Don't mock my channel lines, i'm only a rookie 🙂
 

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