Forex Day Trader's Thread

[tripleogstar]

your all fighting the market with these longs..forget the charts look at the bigger picture!

exactly

 

[cpngtw]

Longer term euro is heading down to (potentially) 1.36

 

[cpngtw]

Longer term euro is heading down to (potentially) 1.36

that may take a week or 2

 

[cpngtw]

I'd say any long position on euro should be a short term one, it has the potential to drop to 1.36

just repeat my view

 

[tripleogstar]

just repeat my view

yea i mean at 1.40 you can get profit taking, and you did, because it did move up 10-15ticks. but market seems uncertain about where to go. there definitely aint a whole load of ppl taking profit at 1.40 otherwise u wud have seen a rally back up to bout 1.4040 region. who knows could happen. but when i trade i like the odds to be in my favour, therefore trading with the trend

 

[cpngtw]

and when swing against a strong move like this one, just go small. I have only 1

 

[cpngtw]

yea i mean at 1.40 you can get profit taking, and you did, because it did move up 10-15ticks. but market seems uncertain about where to go. there definitely aint a whole load of ppl taking profit at 1.40 otherwise u wud have seen a rally back up to bout 1.4040 region. who knows could happen. but when i trade i like the odds to be in my favour, therefore trading with the trend

There are a few strategies, either taking the first bound around 27-30% of the last small wave down (1.4105 - 1.4000), or taking a larger ~40% bounce from the last 3 waves down (1.4200-1.4000). Or combine the 2.

The 1st one would net 30p as we saw, and if I'm correct then the 2nd would net 60-70. The sl below H4/200 is not that a big one though in case I'm toasted

 

[Jumpinjack]

eur/usd goes lower wrong above 1.4070 area

there is good support for eur/usd at 1.40. if you wana profit of other people's profit taking then thats the level to get in

I don`t think you will see other people taking profit here (1.4000), at least not the profis, if anything they will be looking to add to their shorts for lower levels over coming days/weeks

 

[cpngtw]

um.. If I want to add short position then I'd add after a bounce from 1.4000, not right there though

 

[tripleogstar]

um.. If I want to add short position then I'd add after a bounce from 1.4000, not right there though

i agree

 

[tripleogstar]

i would be happy to short anywhere between 1.4040 and 1.4050

 

[Pippy5000]

I'm just playing the range.. I'm still alive .. risking 30 for 190 makes sense.. nothing is guaranteed but if 1.40 holds then we will have a strong double bottom and we should get a decent run up..

 

[Jumpinjack]

um.. If I want to add short position then I'd add after a bounce from 1.4000, not right there though

no of course not exatcly 1.4000 but probably the little rallies get sold! And there are most likely plent yof STOPS below the 1.4000 level which would open up 1.3680 as the next major support level to talk about...

 

[Jumpinjack]

I'm just playing the range.. I'm still alive .. risking 30 for 190 makes sense.. nothing is guaranteed but if 1.40 holds then we will have a strong double bottom and we should get a decent run up..

Glad you're still alive, it is after all, a deadly game!
Where are you in Texas??

 

[Pippy5000]

[arnold schwarzenegger in Predator]

What are you waiting for?? DO IT! KILL ME!

[/arnold schwarzenegger in Predator]

 

[cpngtw]

Pippy make sure you have a trailing stop (either manual or auto) after 1.4070, if it goes there as planned. I'd not bet higher than that tho

 

[Pippy5000]

I'm in the suburbs of Houston

 

[Jumpinjack]

I'm in the suburbs of Houston

Interesting!

I know someone who lives in that part of town and trades. He likes the Aussie!

 

[cpngtw]

Interesting!

I know someone who lives in that part of town and trades. He likes the Aussie!

You're sure he's not Pippy?

 

[Pippy5000]

I'm obviously not the only one who thinks 1.40 will hold..