Forex Day Trader's Thread

[wh92stang]

I wouldn't say that it will concretely lead to a significant drop. The Support/Resistance is more of a 860-880 range, not just one point. After that I'd say 810-830 is the next support range.

With the way this market acts though, who knows what will really happen.

 

[SSINGH]

I wouldn't say that it will concretely lead to a significant drop. The Support/Resistance is more of a 860-880 range, not just one point. After that I'd say 810-830 is the next support range.

With the way this market acts though, who knows what will really happen.

lets pray for a breach of 880 then!!!!!!

 

[Pippy5000]

tenkan line is at 877 and represents the previous breakout level.. I'm going to short Euro anyway at 1.39 with a stop and reverse above

 

[cpngtw]

I think euro still has upside room to go

 

[wh92stang]

I think I might put a buy stop in for EU at 1.3908 targeting 1.40, S/L 1.3863

I don't know if it's my inexperience, or perhaps it's a good thought, but I get nervous entering a long position after it has already made such a large run-up, I feel like I missed the move.

 

[cpngtw]

probably another 100 pips

 

[Pippy5000]

stopped and now long.. I don't see any resistance until 1.41 other than psych round number resistance.. Anyone see anything else.. I might jsut hold onto this one.

 

[Pippy5000]

we're looking pretty good so far boys..

 

[cpngtw]

I think I might put a buy stop in for EU at 1.3908 targeting 1.40, S/L 1.3863

I don't know if it's my inexperience, or perhaps it's a good thought, but I get nervous entering a long position after it has already made such a large run-up, I feel like I missed the move.

It depends, if it makes a big move but is just about 1/3 or 1/2 of the way it suppose to go, then buy on a dip is a good idea. But if it has 1/3 or 1/4 of the way to go, then be careful. Usually the last 1/3 leg is the most difficult with all the zig zags and unexpected retracing before it reaches the target. So if you have to enter the last leg of the big move, then stay small & try to hit obvious short distance.

 

[wh92stang]

I agree, round number at 1.40, next would be about 1.4125ish. What is your stop-loss? I got in at 1.3912 and my S/L is 50 pips below at 1.3862 which is below the last 1 hour pin.

 

[Pippy5000]

My s/l is 1.385 going to 1.399

 

[RidderTrade]

recovered from sharp losses, fought back to end daily green with 4 consecutive gains, i am finished for the week, closing weekly higher

will travel abroad tomorrow, best of luck friends

 

[RidderTrade]

will start trading from 31 may again

 

[cpngtw]

It depends, if it makes a big move but is just about 1/3 or 1/2 of the way it suppose to go, then buy on a dip is a good idea. But if it has 1/3 or 1/4 of the way to go, then be careful. Usually the last 1/3 leg is the most difficult with all the zig zags and unexpected retracing before it reaches the target. So if you have to enter the last leg of the big move, then stay small & try to hit obvious short distance.

That means the second 1/3 is the most profitable and usually the fastest (the 1st is hard to detect in general)

Just my 2 cents

 

[cpngtw]

recovered from sharp losses, fought back to end daily green with 4 consecutive gains, i am finished for the week, closing weekly higher

will travel abroad tomorrow, best of luck friends

Good trip Ridd! Is Monday a holiday there?

 

[RidderTrade]

today

Good trip Ridd! Is Monday a holiday there?

today was a holiday day in holland. see ya friend

 

[Pippy5000]

Windmill Day.. All of the people come out of their windmills and plant tulips

 

[RidderTrade]

Windmill Day.. All of the people come out of their windmills and plant tulips

lol

good luck pip

 

[Pippy5000]

well this buy stop is turning into a disaster... down 22

 

[Pippy5000]

if 880 holds in the S&P this will be a great place to get long though!