Forex Day Trader's Thread

[cpngtw]

equities rally is short live

 

[cpngtw]

Ridd, how are you doing

 

[Pippy5000]

going to get a long in on EJ as it is bouncing off hourly SMA support after a 100 pip selloff..

 

[RidderTrade]

ok

Ridd, how are you doing

i'm ok, what about you

 

[Pippy5000]

actually I banked EJ because equities seem too heavy.. I turned $100,000 into $100,005.30 .. pure genius..

 

[cpngtw]

i'm ok, what about you

I'm alright

 

[Pippy5000]

I think that SMA support will break by the time the NY session is over and I'm grabbing it at the lowest SMA at 130.. below that and I'm out..

 

[Pippy5000]

oh no.. that's right EJ.. go ahead and skyrocket after I bank 5 bucks you &*%@#)

 

[SSINGH]

oh no.. that's right EJ.. go ahead and skyrocket after I bank 5 bucks you &*%@#)

eur/jpy

 

[Pippy5000]

Are you getting those charts from FXCM? They look familiar..

 

[SSINGH]

Are you getting those charts from FXCM? They look familiar..

no bro...Trading Central

 

[Pippy5000]

USD/CAD sell stop 1.1385 t/p 1.1315 .. my broker says there are tons of stops sub 1.14

 

[Pippy5000]

hmmm... got 20 on my EUR/USD stop .. my USD/CAD seems to be having a little trouble..

 

[cpngtw]

My take on EJ

On monthly, EJ is facing heavy resistance at this level 135 +/- 400
On weekly it has upside up to 137.
On daily it's currently at a critical junction where it tries to breaks 200ma with the support of 50ma & 20ma
H4, it is traveling along the 200ma & trapped by the 50ma, however it looks like that after the .38 correction from the recent running up, it has a high chance to break up, but may take up to a day or 2 & have a trading range 130-131.5

- disclaimer: just my take, it may not be correct

 

[Pippy5000]

one more thing.. hourly and daily SMA coincide at 130 .. should be great support .. right above 130 is a buy with a -35 stop

 

[cpngtw]

Yeah, since I guess it may take a day or 2 to break up (or in case what I said is wrong, down!), then H1 would be sideway from 130-131.5, good to do range trading for 1 or 2 times

 

[Pippy5000]

well I got 7 on USD/CAD but stocks are tanking and I don't like my chances for further gains at this time..

 

[Pippy5000]

changed EJ entry to 130.3 with a 55 pip stop

 

[SSINGH]

aud/gbp short paid me 70 pip gain

 

[RidderTrade]

geithner

geithner has spoken, can cause profit taking in us equities

went short usa indices after i heard that geithner has spoken,
i am gonna convert now 107 dow points

best of luck friends